What is a fund's minimum initial investment and how do I get around a high one?

Some mutual funds require a minimum first purchase, historically anywhere from $1,000 to $3,000 for popular index funds, though many providers have lowered or eliminated minimums in recent years. If a fund's minimum is more than you have, you have easy alternatives: buy the ETF version of the same index, which typically has no minimum beyond one share's price (or even less with fractional shares), or start with a broker whose index funds carry no minimum. Some funds also waive minimums if you set up an automatic recurring investment. Don't let a minimum stop you from starting; the ETF equivalent almost always lets you begin with whatever small amount you have, and getting invested early matters far more than which wrapper you use.