Since this is a blog primarily dealing with precious metals, I'm going to keep the narrative about the purchasing of our imaginary Vanguard 500 Index Fund shares to a minimum.
Suffice it to say, we called the 1-800 number for Vanguard, were told that there would be no up-front fees, and that given the amount of money we would be investing, we'd receive a discount on our expense ratio from the normal 0.18% to 0.07%. The price quoted to us per share was $119.85, and with $100,000 of our pretend money, we were able to purchase 834 shares. We wired the funds to Vanguard, the account was setup, and now we're good to go.
Huzzah.
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