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Financial institution of America has launched retirement-oriented portfolios designed to supply predictable, steady revenue alternative over 25 years whereas girding towards market fluctuations and inflation.
The brand new providing goals to assist alleviate issues 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 Revenue Portfolio capabilities for Merrill Guided Investing and Merrill Guided Investing with an Advisor present purchasers close to retirement age the power to regulate their retirement revenue whereas additionally permitting for flexibility and eliminating the necessity to withdraw Social Safety funds early, based on the corporate.
Buyers can select methods starting from “secure revenue” to “revenue and development” to greatest 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 Revenue Portfolios present enhanced money administration capabilities, supporting recurring distributions, cash actions and facilitating simple connectivity to purchasers’ broader Financial institution of America accounts. Purchasers will need to have a minimal of $50K in property to fund the account.
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