MorningStar.com rates funds and is a good place to start your research. You will also find Money.com and Quicken.com very useful.
Some mutual funds will waive the minimum initial investment if you sign up for the automatic investment plan. This is a great way for people who don't have a lot of money to get started with investing. Once a month the fund will automatically withdraw a preset amount from your bank account.
After you find a fund that you are interested in, go to the funds web site. They will have a prospectus that you can view online. This is where you will find information on the required minimum investment. Look at the section that says how to purchase shares.
Below are some funds that will waive the minimum required investment if you sign up for the Automatic Investment Plan. There are over 9000 mutual funds and this list is in no way complete. We do not recommend any particular funds, you will need to do your own research. Please note that the minimum required investment may have changed since this page was published. Check the funds prospectus for the most up to date information.
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Evergreen Funds - requires $25.00 per month.
John Hancock - requires $25.00 per month.
AIM Funds - requires $50.00 per month.
Artisan Funds - requires $50.00 per month.
Armada Funds - requires $50.00 per month.
Dreyfus - requires $100.00 per month.
Janus Funds - requires $100.00 per month.
Berger Funds - requires $100.00 per month.