Jan 17

I’m looking to purchase some mutual funds (Traditional IRAs) for my 2006 tax write-off before the deadline comes in April. ING offers several ranges of risk/reward levels of mutual funds. Does anyone have anything good or bad to say about their funds?

3 comments so far...

  • VI Said on January 17th, 2010 at 3:17 pm:

    you are better off with an investment company than a bank.

  • Common Sense Said on January 17th, 2010 at 3:45 pm:

    ING is an average fund company. Many of their funds have “loads” (commissions). If you need advice they’d be “OK”. A great “loaded” fund family is American Funds.

    On the other hand;
    My wife and I only buy no-load funds. We have done very well vs. the loaded funds. (there is no statistical difference between the performance of loaded vs. no-loads, LOADED just costs a whole lot more).

    You can buy good funds through Schwab or Fidelity Brokerage….. or go to the fund families directly. Some examples are;
    Vanguard (best costs, good funds)
    T. Rowe Price (good performance, fair pricing)
    Dodge & Cox (great International Fund)

    You may also want to check out ETF’s like IVV & SPY. You can’t get cheaper & they’ll beat most Mutual Funds (over a 10 year period).

    Good luck. Your #1 job is;
    Pick funds with low costs (internal fees and no-loads)
    Don’t pick the “best” fund of last year.
    Have an “Asset Allocation” in mind

    PS: As a general rule; Avoid banks and Insurance companies for long term investing.

  • Douglas L Said on January 17th, 2010 at 4:28 pm:

    If this is your first dab into the market, I think you should use a more established company. Try looking at American Funds. Many options, and all with much longer track records.

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