I did a search to find a no load (no commision) index mutual fund with the lowest minimum requirement to open an account. The AARP Mutual Funds allow you to open an account with an investment of $25 if you sign up for a monthly contribution of $25 or you can set up an account with a single investment of $100. Additions to the account can be made at any time with a minimum of $25.

Now who can't afford to start an account with the AARP Funds?

You do not have to be an AARP Member to open an account and anyone who is a US Resident and has a Social Security number can invest in the funds. There are no minimum balance fees and a $10 annual maintenance fee charged by the custodian for IRA accounts.

Some other great things about the funds: they offer 4 index funds and a money market, they are managed (sub-advised) by State Street Global Advisors, they have low expenses capped at .50% and you can sign up right online.

I think even most young adults with or without debt issues should give this a try. Take a look at the AARP Aggressive Fund as it has a nice balanced portfolio including some international exposure.

Start an account today! No excuses.

The Div Guy is not associated with or compensated by AARP Funds. I did open two UGMA accounts with AARP Funds for my children.