Before investing consider carefully the investment objectives, risks, and charges and expenses of the fund, including management fees, other expenses and special risks. This and other information may be found in each fund's prospectus or summary prospectus, if available. Always read the prospectus or summary prospectus carefully before you invest or send money.
Prospectuses can be obtained by contacting us. Expense Ratio — Gross Expense Ratio is the total annual operating expense before waivers or reimbursements from the fund's most recent prospectus. You should also review the fund's detailed annual fund operating expenses which are provided in the fund's prospectus. Banking products are provided by Bank of America, N.
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Type a symbol or company name and press Enter. How Are We Different? Help When You Want It. Find a local Merrill Financial Solutions Advisor franchise bankofamerica. Schedule an appointment. Ways to Manage Accounts. Investment Accounts. Life Planning. Market Overview. Research Overview. Education Resources. Other titles and acronyms may mean much less. Then set up an initial meeting with a few advisers. Ask each if he or she pledges to act in your best interest, always.
Here are 21 questions to get you started. Finally, compare your notes about each adviser you spoke to. So much of these money conversations are about feelings: our fears, our goals and our strongest values expressed through our spending, saving and giving. Does this person care about your feelings? If not, keep looking. Twitter: ronlieber. Start Early The best day to start saving is today, even if you can save only a little bit. The most important advice about saving for retirement is this: Start now.
Two reasons: 1. How Much Should You Save? Answers to Questions About b Plans. Talk to a Teacher. What to Know About I. What to Know About Roth I. What Are S. AND S. Creating Your Own Version of a k. Summer Job? Time to Start a Roth I. How to Give an I. Don't Get Fancy Dozens of books exist on the right way to invest.
Think humble, boring, simple and cheap. The Boring Glory of Index Funds Your best bet is to buy something called an index fund and keep it forever. How to Choose Index Funds How much of each kind of index fund should you have? Zen and the Art of k Maintenance. Fees Nothing in life is free, even when it comes to saving for retirement.
The Downside of Retirement Accounts Retirement accounts are not free, and the fees you pay eat into your returns, which can cost you plenty come retirement. Fees Too High? On the Hunt For a Better k Plan. Revealing Hidden Costs of Your k. Revealing Excessive k Fees. Routine Financial Tuneups Once you set them up, it only takes a few minutes a year to keep tabs on your retirement accounts. To Do 1. Save 1 Percentage Point More from Your Paycheck Time required: 5 minutes If you followed our earlier advice, you set it up so you have money automatically taken out of each paycheck for your retirement account.
Get the Your Money Newsletter Every week, get tips on retirement, paying for college, credit cards and the right way to invest. Your email address Sign Up Now. The good news: If you receive a loan from a k plan, you pay interest to yourself. Consider: What do you value most in life?
How can spending and giving support those values? Using will lead to a more aggressive portfolio; will skew more conservative. Or will I make a mistake and sell? If you live for that kind of thrill, you might take more. We have a risk tolerance quiz here. Stock funds are divided into categories. Your k will probably offer at least one fund in each of the following categories: U. If you have access to an international bond fund, you might put a bit of your savings in there to diversify globally.
Expense ratios are the fees carried by investments, and they range widely. You might find your k offers only one choice in some of the above categories, but when you have a selection, you should generally pick the lowest-cost option — often an index fund. Even small differences in fees can have a huge effect over time. One is a target date fund, available in virtually all k s.
These funds have a year in their names, designed to correspond to the year you plan to retire. You put all of your k money in this fund, which diversifies for you and automatically takes less risk as you approach that year. Based on age. Tweak your numbers below. Basic Monthly k contributions The percentage of your salary you contribute to your k.
Employer match The percentage of your contributions that your employer matches. Limit on matching contributions The maximum percentage of your salary that your employer will match. Retirement age The age at which you expect to retire. Rate of return The average annual return you expect from your k investments each year. Advanced Marital Status The marital status you report to the IRS single married, filing jointly married, filing separately head of household.
Type of k Roth k s contribute after tax dollars, traditional contribute pre-tax Traditional Roth. Life Expectancy. Include k fees Fees reduce your investment returns. Check this to include administrative fees, investment expenses and management costs in the calculation. Total k fees The total amount you pay in fees for your k each year, expressed as a percentage of your account balance.
Get started it's free. What is a k? Why should I use one?
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