In order for us to get money into our Ameritrade account we had to establish a business checking account with Klein Bank. We chose Klein Bank because of their fee free business account that didn't have a minimum balance mandate.
At our last meeting, 12/29/10, we collected the initial deposit of $450 per person and deposited that into the Klein Bank account on 12/31. Peter Rolando is the Broker Liason and established the link between Ameritrade and Klein on Sunday as the Vikings were stuck in the Lions Den. Finally this morning, 1/4/11, the link was verified and we were able to put in a deposit request of $4500. Hopefully by days end, the money will be available for the purchase of securities.
Our plan once the money is in place is to purchase ETF's, or Electronically Traded Funds since we like how diversified they are. Once we feel more comfortable putting together our own diversified portfolio we will purchase stocks.
What we are currently looking at purchasing:
40% into the Dow Jones ETF (DIA)
60% split up between another Domestic Broad Based ETF, Domestic Sector Based ETF, and an International ETF.
We'll update you as we have news.
LSCM
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