Supple do you have the discipline to be able to save money in a savings account or money market for a bit? Because you'd be much better off saving up the $450 or so to buy a GOOG share, then opening a discount brokerage account and paying one $10 fee once to get your share. On a percentage basis you're getting creamed by fees right now.
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Originally Posted by Supple Cow
I just started using Sharebuilder in January because I have this irrational need to own at least one Google stock. Once I signed up, I got carried away and decided I wanted to hold a piece of Disney and Netflix, too, but my investment strategy was stupid. If you choose the free account (which I, a poor youngster, did) you just sign up for a monthly automatic investment and you don't pay any annual fees. They just take a $4 fee out of what you are having automatically taken out of your bank account, so for example, they would invest $96 for each automatic deposit of $100. What I figured out after two months was that they take that $4 out for EACH STOCK, so I was stupidly having $12 of my measly $50 a month go into fees just so that I could own GOOG, NFLX and DIS. Lesson learned.
Now I'm sticking with one stock at a time. I only own about three-tenths of one Google stock at this point, but this is enough to keep me on my quixotic path to owning a WHOLE one some day. Then I'll probably switch my automatic investment plan over to NFLX to support my other habit.
I'm not sure if this was actually helpful or relevant to the OP, but since soma mentioned it, I thought I'd chime in with my personal experience.  |