I'm looking to get into investing a little more deeper than just CD's and savings accounts. I would like to start putting money into mutual funds and then from their into other things as I get more knowledgeable about the subject. As of right now I have a max rate checking account on E-trade and would like to open an account to start putting money into mutual funds. But here is the problem I have no clue which funds to put it into, what type of account I need to open, and also a solid starting amount needed to start with. Any help would be much appreciated from people who use etrade or have experience with other online sites.

I was hoping you had lost a bunch of monies and were looking for a point from which to literally jump off.

hahah no.

Mutual funds start with Morningstar.com.

k, ty.

For someone in your shoes, figure out how much you want to invest, then buy shares of Vanguard's Total World Stock ETF (VT). You can purchase shares on the open market through E*Trade just as you would purchase a listed stock.

If you want to try to beat the indexes used in VT, there are some highly regarded actively-managed world stock market funds such as the one from T. Rowe Price (PRGSX). Also, the seminal firm of Dodge & Cox is opening a new global fund (DODWX).

Is 1k a good starting point or should I move more money on there?

If that's how much you have to invest, then that's a good starting point.

If you're going to be making frequent, periodic investments, then a mutual fund might be better than and ETF because of potentially lower transactions costs. Every time you purchase an ETF, you pay a commission just as with a stock purchase. Many mutual funds don't charge a commission.

The Vanguard World Stock Index Fund (VTWSX) is a good choice for periodic investments.

also, i would recommend you start learning dollar cost averaging now so you can develop good habits. pick 5 dates in the next arbitrary period of time (a month, a year, whatever) and put in 1/5 of your thousand dollars on each of those dates....(most people do it monthly or quarterly for long term investments).

that way you are never buying on the day the market dropped the most it ever has (or the day it went up the most it ever has)....it is a tool to reduce exposure to market fluctuations.

more important than is 1k enough is to figure out how much you can put in each month and set that up for automatic debit....even if it is only 50 bucks or whatever...get in the habit of paying YOU first.

ok, ty u very much. I just opened my etrade investing account and will start researching no load funds. Will respond back on what i found and see what you guys think and hopefully help out other people in my same position.