Thu Oct 03 2024, by Tyler Gardner

Five Essential Things to Know Before Investing with Primerica or Ameriprise

Hi, I'm Tyler, a former financial advisor and portfolio manager. Now, I create financial content for free to help you save money on advice!

1. Franklin Global Equity Fund

You are likely invested in Franklin Global Equity Fund. This fund might seem appealing for tracking the S&P 500, but it costs you 55 times more than Fidelity's S&P 500 fund for the same performance.

2. Franklin Utilities Fund

Most likely, you hold shares in the Franklin Utilities Fund. For a more cost-effective option, consider SPDR's Utilities Fund (XLU), which saves you eight times more money and avoids the 3.75% upfront fee.

3. Putnam Core Equity Fund

This fund is often referred to as Core Equity but is essentially the S&P 500. It's crucial to identify less expensive alternatives.

4. Putnam Global Health Fund

Paying up to 5.75% upfront to invest in companies like Eli Lilly and UnitedHealth isn’t healthy. Instead, explore Vanguard's low-cost health ETF (VHT) for the same investments at one-eighth the cost and no load fee.

5. Putnam Sustainable Leaders

Lastly, Putnam Sustainable Leaders charges excessively for names that sound appealing—30-55 times more to invest in top companies like Amazon, Nvidia, and Microsoft. Additionally, Putnam takes another 1% simply for having the opportunity to invest.

In conclusion, focusing on low-cost index funds means you keep more of your hard-earned money. Invest wisely!

Source