Also, just looked and the Vanguard 500 Index Admiral Fund ($10,000+) has an expense ratio of .05%. So in about a year I am going to reallocate and move a chunk over there. Pretty much the only things they have redemption fees on are their international stuff to discourage trading in and out of them. Some funds they will lock you out of re-investing for a period of time (through their site, you could always buy/sell at will through a 3rd party but you are defeating most of the point because of transaction fees).