Is it possible to transfer monthly $200 from my bank account to buy vti/voo (etf)... tia!!! #personalfinance #investments #vanguard
You can autoinvest in the mutual funds VTSAX or VTIAX
I am investing for the first time , which is better for longer run etf or mutual fund
It's just a different wrapper. It can hold the same assets. Google index etf vs index mutual funds
No you can't auto invest in etf. They are actively traded and needs to be actively bought or sold. Though some brokerages like fidelity let you buy fractional etf shares which means you can auto transfer the money and login once a month to buy whatever fractional amount $200 gets you. Should you get etf or mutual fund depends on whether you have taxable or retirement account. Mutual funds generate capital gains which increase your tax bill and hence are good for retirement accounts since they are tax deferred or exempt. For taxable account always pick etf since you only realize gains when you actually sell your shares. Only exception is if you have your brokerage account with vanguard then their mutual funds are also tax efficient and good for taxable accounts. They hold a patent which let's them avoid distributing capital gains on mutual funds. Personally I prefer etf since its very easy to manage and available universally across brokerage accounts with no commissions.
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You should open a Roth IRA to invest your money with because it is tax free. Setup automatic transfer from bank account to IRA each month and most IRA will offer option to invest automatically into ETF of your choice
My household tc is reaching its limit and think I am not eligible for Roth IRA
You can always do backdoor Roth ira