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Step 1
Decide on a mutual fund company that offers no load mutual funds. Two examples are T. Rowe Price and Fidelity Investments (see Resources below).
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Step 2
Take a look at the funds available and choose one. Most companies have a website that lists each fund and gives you at least an overview of the fund's performance and makeup. Check out financial websites that rate funds and give information about their performance. Try Morningstar's website, listed in the Resources section below.
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Step 3
Contact the mutual fund company directly to set up your account. You may be able to set up the account online or through a call to the company. Give your personal information and details about the account setup. For example, you might wish to make a one-time purchase, or set up an automatic periodic purchase each month into the fund.
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Step 4
Pay for the purchase. Once you set up your account, you will have to have money available for the purchase. Most often, you'll need to mail a check to get the financing started. Once you have done that, future purchases can generally be made online or with a simple phone call.
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Step 5
Watch your investment grow. Since you have purchased a no load mutual fund, you won't be subject to any sales commissions for your purchase. You may have to pay fees, however, if you invest in certain types of accounts like an IRA account. Ask the company for any fees you may incur each year or quarter.
