I can buy a fund from Fidelity and will not have to pay a sales commission. Or, is it better to pay the load in exchange for the "money management" skills of the selling broker? Thanks.
Save your money and buy a no-load, low-expense ratio indexed stock fund. After they take their cut from your money, you'll find that only about 4 out of 10 money managers will be able to beat the index fund anyway — and you have no way of knowing which 4 they are, and they change randomly from one year to the next. They're not in business to make your money, they're in business to make commissions out of your investments.
Fidelity or Vanguard or Schwab — don't buy a fund with more than 0.50% per year in fees.
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For Bonds. I changed up my 401K from stocks to bonds and would to know what No Load funds are.
Thank you.
"No load" means no sales commision is paid by you. Most of the time it's the least costly way to buy Mutual Funds.
All Mutual Funds have internal fees… these fees go to the Mutual Fund company. Some funds are sold by brokers, sales reps etc.. they have fees averaging 5.75% (so… that's $575.00 per $10,000).
A no-load mutual fund has no commisioned sales rep…. so they only have an internal fee (just like the loaded funds)…….
BTW: You just made a horrible mistake by cashing out of stocks. It may turn out to be the worst financial mistake you'll ever make……….
Read about this stuff. Learn. Have an "asset allocation" that has Stocks, Bonds & REITS.
Start by reading;
Mutual Funds For Dummies
401K's For Dummies
You really made a big mistake. Learn this stuff. Understand it. Never make a move based on emotion. Always have an "asset allocation" plan, follow it & you'll do fine.
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1.2nd column
2.3rd column
3.4th column
4.elsewhere because you do not know the sales charge
No load means NO sales fees
Get the ticker symbol and type it into yahoo finance in the get quote box . It is just like getting the price of a stock.
The only thing is some funds have a minimum $$ amount to start and often another minimum amount to add .
Check out mutual funds in education center about 1/2 way down on the left . . .
http://finance.yahoo.com/
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My company goes through a local brokerage firm who says that we can choose any load fund. There is no pre-set list to choose from. We can essentially choose any fund from any fund family, as long as it carries a load. My preference would be a Vanguard index fund, but that has already been ruled out by them because we "cannot buy no load funds."
It might help if you list the options you have in your 401k. There are usually only a few funds to choose from, so there's no point in having people here spit out all the load funds they know of that might be good.
But I'm surprised you don't have at least one index fund offered within your 401k plan. If you really don't, then pick the fund with the lowest fees that is a broad based US stock fund (or better yet, a balanced fund or target retirement fund that includes some international stocks, too). And petition your employer for an index fund offering!!
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I'm looking for a fund that's tax-exempt for federal and states (mass) taxes, but a minimum balance of under $10,000. These 3 companies had none.
Please help
Oakmark
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