This could be good news for anyone just starting out with investment accounts. Schwab lowered the minimum starting balance to $1,000 from $2,500 (or $2,000 for IRAs)and removed below-the-minimum fees for all their investment accounts as long as at least $100 is deposited into the account on a monthly basis. (Source: BusinessWeek.)
Vanguard requires a $2,000 or $3,000 initial deposit (depending on the fund), but a minimum balance of $5,000 per fund to avoid maintenance fees. I’ll have to bring that balance up in the new few months.
Updated February 6, 2012 and originally published April 20, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.