Well, I still don't have my IRA. I am just thinking if I should open a Vanguard account for that or use my existing Scottrade account.
Suppose I buy a Index fund & put $100 per month; that would mean
Initial cost = $3000 + 100*12 = $4200
$10 + $10 = $20
$17 buy + $2 per transaction so that's $17 + 2*12 = $41
Of course if I do 'Systematic reinvestment' not every month but every 3 months; that would lower the expenses since I would have to pay 2*4 = $8 instead of $24. But then I'm keeping that $100 in my bank instead of letting it grow through this index fund.
But if I use Scottrade, I have the advantage of putting Stocks in my IRA & having just 1 investment broker for my IRA & taxable investments (of course I have Fidelity for my 401K)
I think I should not be worrying so much about $41 versus $20 in fees; Scottrade looks like a good option for my IRA. I should do this by end of February