I finally made use of my new investment account with SNS Bank. See, a couple of months ago SNS Fundcoach informed me that investing would be merged with SNS Bank. Therefore, I waited until the merging of the websites was completed. Alas, a week ago that was finished and thus I was confident to take another step towards early retirement.
The first thing I did was phone SNS Bank in order to find out how to go about a monthly investment. I had figured things out on my own, but wanted reassurance. I have to make sure that before the 28th of each month I have wired the required amount to my cash account with them. I’m starting with €100 and that’s very easy to adjust. Unfortunately, they won’t automatically transfer that amount from my bank account into my cash account. So logged onto my bank account and gave the order to transfer that amount on the 25th of each month. Ahh…the joy of automatic payments.
I chose to invest that amount with the S&P500 Vanguard stock index each month. Unfortunately, I am not able to invest in the Vanguard Total Stock Market Index Fund like Americans can and jlcollinsnh recommends. At least the S&P500 is American-based which the kind Sir would probably approve of. Also according to MMM the S&P500 is a great way to invest without having to worry. I like the sound of that!
TER here in The Netherlands is 0.38% for the S&P500. There’s no currency exchange fee even though my euros are converted into dollars. Yay!
I am still a bit scared to drop a bigger amount in one go into my index funds. What do you reckon?