Family Mutual Funds 2
Now in the 10th year
History: For Christmas, 2000, a new family mutual fund gift was made to each family member. The old family mutual fund (FMF1) requires $500 a month in contributions. The new family mutual fund (FMF2) is more modest; it requires only a $250 initial contribution plus $100 a month in contributions ($25 per family member x 4).
Rules: Funds must be selected from TIAA-CREF mutual funds. Rule change [5/30/02]. Funds may be selected from any fund family with a $500 minimum purchase that will allow a $25/mo or $50 every other month additional investment. Rule change [12/24/04]. Family vote to liquidate investments in TIAA-CREF for poor performance. TIAA-CREF sales occurred May 20, 2005. New funds chosen in order of standings (poorest picks first.) Family members must remain fully invested at all times (cannot go to cash) in mutual funds (cannot own individual stocks). No two family members can own the same fund at the same time. First come, first choice. Initial contribution of $250 per fund and $25 per month in contributions is covered by gift. Rule change [12/25/08]. The entire annual contribution of $300 per family member is to be invested all at once, rather than at $25 a month or $50 every two months. Monies may be spent by a family member at any time, which ends the gift. There is no matching savings account for comparison purposes.
End: A divorce effective August 5, 2010 ended the family mutual funds 2 effective that date. Contributions through Dec. 31, 2010 are reflected in final totals and holdings.
Current values of FMF2 (is dollar cost averaging working?)
Contribution schedule (future)
Past values (year end 2001 - ):
Recent values:
Copyright 2000-10 by familymutualfunds.com. All rights reserved.