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 issues for customers ages 55 and older who, information present, more and more fear about outliving their retirement financial savings, Financial institution of America mentioned.
The Retirement Revenue Portfolio capabilities for Merrill Guided Investing and Merrill Guided Investing with an Advisor present purchasers close to retirement age the flexibility to manage their retirement earnings whereas additionally permitting for flexibility and eliminating the necessity to withdraw Social Safety funds early, in accordance with the corporate.
Traders 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 Revenue Portfolios present enhanced money administration capabilities, supporting recurring distributions, cash actions and facilitating simple connectivity to purchasers’ broader Financial institution of America accounts. Shoppers should have a minimal of $50K in belongings to fund the account.