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Is there a way to add money to my Roth IRA index fund ONLY if they can buy it at or below a certain price?

Specifically Vanguard VTSAX since I already have met the minimum requirement (I don't have that much money, just learning). Is it possible to say for example that I only want to buy if the cost is $60.00 or lower? I've already connected to my checking account but my only option seems to be give them money and wait for them to give me however much Vanguard wants (because I say I am buying $x worth of VTSAX it means at whatever price it wants?). Thank you much.

For reference, closing Friday was about $60 and it was $66 in after hours (not sure what that means if I can't "execute" after hours anyway) and looks like the market went down today again.

I understand it doesn't affect much in the bigger scheme of things but I still want to make sure I am not missing out on something silly.

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  • For that particular fund, yes. Place a limit order to buy the ETF share class of the fund (ticker symbol VTI).
    – Ben Voigt
    Mar 16 '20 at 18:17
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If you send money from your checking account to your Roth IRA, that is a contribution to your Roth IRA.

Your Roth IRA can be invested into many different mutual funds, and no, you don't have to open a new IRA account when you make a Roth IRA contribution to a different mutual fund; your brokerage or even Vanguard itself (if you don't use a brokerage account for your investments) can put money that you contribute to your Roth IRA into a money market mutual fund such as VMMXX, and then when the price of VTSAX drops to below $60 per share, you can instruct Vanguard (possibly through your brokerage) to make an exchange of money from VMMXX to VTSAX, thus giving you VTSAX shares at less than $60 per share. Whether you can instruct Vanguard itself to make the exchange automatically is a different matter; my belief is that it is not possible to do so, unless you hold the Roth IRA through Vanguard's brokerage service which might permit such transactions.

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  • Brokerage means there would be extra costs, right?
    – a student
    Mar 16 '20 at 16:35
  • @astudent Well, it really depends on the brokerage, and the sorts of trades you're doing. If there is a cost associated with it, they'll show it to you (whether as an absolute value or a percentage) before you actually execute any trades.
    – Josh Eller
    Apr 15 '20 at 18:38

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