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Some mutual funds want you to pay for the privilege of them (or your investment adviser) taking your money to invest. It's called a load, and it works like a cover charge to get into a nightclub. Luckily, there are such things as no-load funds. As the name implies, shares of these funds are sold without a fee paid to a broker or investment advisor.
The entire amount you invest in no-load funds goes to work for your returns. On the other hand, with load funds, right off the bat you're charged commission (not to mention other fees incurred over the life of the investment). Let's say, for example, you invest $25,000 into a load fund that charges a 5% commission. This costs you $1,250 off the top, bringing your actual investment down to only $23,750.
The often-cited horse race analogy argues against investing in load funds. Here's the logic behind it: Would you place a bet on a horse that had to start a race 200 yards behind the others? Well, maybe you would if you got a tip from a sketchy, trench coat-clad man in a dark alley. However, under most circumstances, it's not smart to put your money on that handicapped horse.
But some argue that at times that man in the trench coat (aka your broker) knows more about the horses than you do, and has a better shot at picking a winner. Also, sometimes these fees are unavoidable because some funds are available only through investment advisers.
Cost-benefit analysis can help determine when a load fund is worth it (in other words, when it will score you a load) and when it is better to "do it yourself" and avoid the fees. Load-fund fees range depending on share class and can cover a variety of costs, such as paper work and fund management.
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Saturday, May 17, 2008
Lutherans Responding to People Affected by Iowa Immigration Raid
Comtex
CHICAGO, May 17, 2008 /PRNewswire via COMTEX/ ----Members of St. Paul Lutheran Church, Postville, Iowa, are responding to the needs of people who have been affected by a May 12 federal immigration raid at a Postville meat processing plant. Hundreds of family members of those arrested have taken refuge inside St. Bridget's Catholic Church, Postville, said the Rev. Stephen P. Brackett, St. Paul Lutheran Church.
On May 12 U.S. Immigration and Customs Enforcement (ICE) agents arrested 390 people, and were seeking an additional 300 people who were not at the kosher meatpacking plant, Agriprocessors Inc. The purpose of the raid was to secure evidence of possible identity theft, stolen Social Security numbers and illegal immigration, said an ICE spokesperson. Federal officials said the raid was the largest operation of its kind in U.S. history.
Church members and others in the community have stepped in to help family members who were affected, Brackett said. He estimated that as many as 30 members of St. Paul are helping out at St. Bridget's by providing food and clothing, tutoring students and reading to younger children. Several students from Luther College, Decorah, Iowa, one of 28 Evangelical Lutheran Church in America (ELCA) colleges and universities, are also helping, he said.
For those arrested a significant need will be securing legal help, Brackett said. The cost of meeting with a lawyer is at least $150 per person, he said.
No one is staying at St. Paul because most people affected are Roman Catholic and afraid to leave the church building for fear of arrest, Brackett explained.
Calling the situation "very traumatic" for those affected, Brackett said some family circumstances are "excessively complicated" because some children are U.S. citizens and their parents may not be U.S. citizens. Families could be broken up if members are deported, he said.
"Families and friends are suffering tremendous loss and grief," said the Rev. Steven L. Ullestad, bishop, ELCA Northeastern Iowa Synod, Waverly. "The long-term implications for these families, as well as the impact on the schools and businesses of Postville, are significant."
The synod is developing a list of pastors who speak English and Spanish to assist families, Ullestad said. He asked Lutherans to pray for the people of Postville, and the bishop invited congregations to talk about immigration concerns.
SOURCE Evangelical Lutheran Church in America
http://www.elca.org/
Copyright (C) 2008 PR Newswire. All rights reserved
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