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I came across this article that allows smaller funds to start an IRA for young people. I did not understand the part that says minimum initial / IRA. Is Part IRA if you have a small IRA, or is this the minimum per year? Thank you!

How they have done well in 5 YEARS

More information about the funds discussed in this column:

Fund symbol Minimum Initial / IRA 5 years in total return1

Excelsior Value Mid-Cal (UMVEX) $ 500 / 250 $ 65%

Homestead Value (HOVLX) $ 500 / 200 $ 64%

Hennessy Cornerstone Growth (HFCGX) $ 2,500 / $ 250 86%

USAA Capital Growth (USCGX) $ 3000 / 250 88%

T. Rowe Price Equity Index (PREIX) $ 2,500 / $ 1,000 33%

T. Rowe Price Equity Income (PRFDX) $ 2,500 / $ 1,000 51%

1 - Dividends, gains reinvested through Wednesday; Sources: Lipper, Morningstar

The dollar amount listed first is what is required to open an investment account with a regular mutual fund ($ 500 for Excelsior Mid Cap Value). The second dollar amount is the minimum amount required to open an IRA for the same mutual funds ($ 250).

Because most people make deposits monthly or annual IRA account, the investment company is willing to accept initial deposits of account opening.

I would say that the minimum is the minimum allowed investement from a current account, while the IRA is the minimum if its from an IRA account.

If you go to TR price you can open an account w $ 50 if you make monthly contributions of $ 50 min. Otherwise, the minutes for an IRA is $ 1,000