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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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Monday, May 05, 2008
PA Governor Says Financial Analysis Shows Nothing Stands in Way of Senate Action to Help Pennsylvania's Uninsured
Comtex
HARRISBURG, Pa., May 5, 2008 /PRNewswire-USNewswire via COMTEX News Network/ ----Governor Edward G. Rendell today urged the Senate to immediately enact Pennsylvania Access to Basic Care (PA ABC) for the uninsured now that an analysis shows the proposal is financially sound and stable.
"The financial analysis released today by the Governor's Budget Office proves that we have the funds to do two things: help hundreds of thousands of Pennsylvanians by offering them access to affordable health insurance through PA ABC; and continue to help doctors pay their medical malpractice insurance," the Governor said.
"The budget office did a thorough analysis that shows program costs and demonstrates to the taxpayers of Pennsylvania and their elected leaders that this is a financially responsible plan. With the additional revenues from the proposed 10-cents-per-pack increase in the cigarette tax and the first-time-ever tax on smokeless and other tobacco products, we will be able to fully fund this program.
"This analysis answers the argument from critics that the bill does not have adequate funding. We do. Now all we need is the political will to get this done.
"The uninsured do not have powerful Harrisburg lobbyists to represent them. They are hard-working individuals who are trying to make ends meet and worrying about how they are going to afford to see a doctor if they get sick. It's time we do something for them to make their lives a little easier. That's what public service is supposed to be about.
"This budget analysis is the final piece to the puzzle and, with it, I hope the Senate debates and takes action on this crucial program. The biggest holdup we have been hearing is, 'How are you going to fund it?' Well, this analysis answers that question. Now it's time to take action and help the people of Pennsylvania."
The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: www.governor.state.pa.us.
EDITOR'S NOTE: A copy of Budget Secretary Michael J. Masch's letter describing the Governor's Budget Office analysis of Senate Bill 1137, which includes the PA ABC program, is available at the Governor's Office of Health Care Reform Web site at www.rxforpa.com. Select the link for "ABC Financial Analysis."
CONTACT:
Chuck Ardo
717-783-1116
SOURCE Pennsylvania Office of the Governor
http://www.governor.state.pa.us
Copyright (C) 2008 PR Newswire. All rights reserved
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