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Great Mutual Funds for Kids
By JLP | June 14, 2006
Today’s Getting Going column by Jonathan Clements talks about four mutual funds that are great for kids:
AARP Aggressive Fund (Minimum Investement: $100 / Annual Expenses: .50% / Ticker: N/A) - It seems strange to start a kid out in a fund managed by a group associated with retirees, but Clements likes the fund’s performance and its low expenses.
Homestead Value Fund (Minimum Investement: $500 / Annual Expenses: .76% / Ticker: HOVLX) - Solid performance from a value fund and a very low turnover rate of 13%, something to consider for taxable accounts.
Pax World Balanced Fund (Minimum Investement: $250 / Annual Expenses: .96% / Ticker: PAXWX) - A mutual fund for the “socially-minded” kid.
Vanguard STAR Fund (Minimum Investement: $1,000 / Annual Expenses: .36% / Ticker: VGSTX) - Most Vanguard funds require a $3,000 minimum investement. The STAR fund only requires a $1,000 minimum investment. Clements suggests using this fund as a way to get into Vanguard and then switch to their Target Retirment funds once there is $3,000 in the account.
For some reason I can’t find the ticker symbol for the AARP Aggressive fund. If you know the symbol, please let me know.
Topics: Getting Going, Investing, Jonathan Clements, Kids and Money, Mutual Funds |