Charles schwab question easy 10?

Question

I bought a mutual fund today which had a minimum of $2500. I know there is a 90 day hold on it untill i can do anything with it. After 90 days can i sell say $500 or however many shares that is and reinvest it in another mutual fund that i want?

I wanted this fund but did not really want to invest $2500 in just one fund. there was two others with $100 minimums that I would like to gets some after the 90 days.

Thanks

Answer 1

HONESTLY MY OPINION IS, YOU SHOULD TAKE A LOOK AT A MUTUAL FUND COMPANY LIKE VANGUARD OR T. ROWE PRICE. THEY OFFER MANY FUNDS AND ETF WITH LOW .MANAGMENT FEES. REMEMBER A  MAIN FACTOR WHEN IT COMES TO INVESTING IN FUNDS IS HOW MUCH YOU PAY IN MANAGMENT FEES. THE LESS FEES YOU PAY, THE MORE YOU GET TO KEEP.

I SUGGEST YOU VISIT

WWW.INVESTOPEDIA.COM

OH AND DONT FORGET TO READ THE PROSPECTUS CAREFULLY GOODLUCK.  

Answer 2

This is not really a Charles Schwab question.  The question relates to the particular mutual fund that you purchased.  Fidelity mutual funds for example have a minimum balance of $2000 and a minimum purchase of $2500.  T Rowe Price funds have a minimum balance of $1000 and a minimum purchase of $2500.  Both funds have certain exceptions to these rules relating to regular automatic purchases.  Almost every, if not every, mutual fund family is on the internet.  I suggest you go to the site of the fund that you purchased and find out what their particular rules are relating to minimum balances.  

Answer 3

It's fund specific.  Look at the prospectus.