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Financial institution of America has launched retirement-oriented portfolios designed to offer predictable, steady earnings alternative over 25 years whereas girding in opposition to market fluctuations and inflation.
The brand new providing goals to assist alleviate considerations for shoppers ages 55 and older who, information present, more and more fear about outliving their retirement financial savings, Financial institution of America stated.
The Retirement Earnings Portfolio capabilities for Merrill Guided Investing and Merrill Guided Investing with an Advisor present shoppers close to retirement age the flexibility to regulate their retirement earnings whereas additionally permitting for flexibility and eliminating the necessity to withdraw Social Safety funds early, in keeping with the corporate.
Buyers can select methods starting from “steady earnings” to “earnings and progress” to finest align with their time horizon, threat tolerance and extra, Financial institution of America notes. The portfolios present recurring distributions right into a Financial institution of America checking account or different financial institution or investing account of their selecting.
Designed and maintained by the chief funding workplace, the Retirement Earnings Portfolios present enhanced money administration capabilities, supporting recurring distributions, cash actions and facilitating simple connectivity to shoppers’ broader Financial institution of America accounts. Shoppers should have a minimal of $50K in property to fund the account.
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