When opening an Individual Retirement Account (IRA), it’s important to consider any fees that might be involved. Typical IRA fees may include annual maintenance fees and account closure fees. You may also pay a fee to roll funds over to an IRA or close your account and transfer funds elsewhere.
Factoring in fees matters when deciding where to open an IRA. The more you pay in fees, the less of your investment dollars you get to keep. Understanding the various IRA fees you might encounter can make it easier to choose the right option for your retirement savings.
Key Points
• IRAs, including traditional and Roth, may incur fees such as maintenance (custodial) fees, and account closure fees.
• A good IRA maintenance fee is ideally below 1% annually, with some brokerages waiving fees entirely.
• IRA fees can be charged one-time, monthly, yearly, or per transaction, affecting overall investment returns.
• Roth IRAs are funded with after-tax dollars, offering tax-free qualified distributions, while traditional IRAs typically use pre-tax dollars with taxable distributions.
• Comparing fee schedules of different brokerages is crucial to minimize costs and maximize retirement savings.
Fees IRAs Can Charge
Brokerages and banks that offer retirement accounts can charge a variety of IRA fees and some are more fee-friendly than others. Some of the most common fees you might encounter with an IRA can include:
• Account maintenance fees. Some brokerages charge IRA maintenance (or custodial) fees simply for having an account. You may pay a flat fee or a percentage of the assets in your account on a monthly or yearly basis. It doesn’t matter what type of account you have, as there’s typically no real difference between traditional IRA and Roth IRA maintenance fees.
• Account closure fees. If you open an IRA at one brokerage, then decide to close it, you may pay a fee to terminate your account.
It’s difficult to determine how much an investor might pay in IRA fees on average, as every brokerage follows a different fee schedule. For example, you might pay a small account maintenance fee at one brokerage, while another charges no maintenance fee at all.
As for fees for opening a Roth IRA or traditional IRA, many financial institutions don’t charge this fee. If they do, account setup fees may be in the neighborhood of $25 to $50. Additionally, it could cost $100 or more to close your account and move it elsewhere.
How Are IRA Fees Charged?
Traditional IRA fees and Roth IRA fees are set by the financial institution that’s offering the account. Typically, there are fours ways fees can be assessed:
• One-time
• Monthly
• Yearly
If you’re worried about losing money in an IRA, it’s important to know when fees can apply and how much you’ll pay. You may be focused on making sure your investments do well to avoid losses, but fees can easily leech away your earnings little by little if you’re not paying attention.
Reviewing a brokerage’s fee schedule before opening an IRA can give you a better idea of what you might pay in terms of upfront fees and ongoing costs. You can also review the prospectus for each mutual fund or ETF you plan to invest in to see how much you might pay for the expense ratio. The expense ratio is set by the mutual fund company, not the brokerage.
The Takeaway
Opening an IRA can get you closer to your retirement savings goals, while allowing you to enjoy some tax benefits along the way. When deciding where to open an IRA, it’s important to zero in on the fees as that can affect your overall account growth long-term.
If you’re ready to get started with retirement planning, it’s easy to open an IRA with SoFi. You can get your account up and running in minutes online, and choose between automated or DIY investing to help you reach your goals.
Prepare for your retirement with an individual retirement account (IRA). It’s easy to get started when you open a traditional or Roth IRA with SoFi. Whether you prefer a hands-on self-directed IRA through SoFi Securities or an automated robo IRA with SoFi Wealth, you can build a portfolio to help support your long-term goals while gaining access to tax-advantaged savings strategies.
Help build your nest egg with a SoFi IRA.
FAQ
What is a good IRA maintenance fee?
A good IRA maintenance fee is no fee at all, as some brokerages waive annual and monthly account maintenance fees.
How are fees paid in an IRA?
Some IRA providers charge account maintenance fees that you may pay one time, monthly, or annually. Check with the financial institution offering the account.
Are IRA fees higher than 401(k) fees?
A 401(k) can charge its own fees and whether they’re higher or lower than IRA fees largely depends on who manages the plan. Fees for a 401(k) may outpace IRA fees in some instances.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/supersizer
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest is a trade name used by SoFi Wealth LLC and SoFi Securities LLC offering investment products and services. Robo investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Brokerage and self-directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC.
For disclosures on SoFi Invest platforms visit SoFi.com/legal. For a full listing of the fees associated with Sofi Invest please view our fee schedule.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Individual retirement accounts (IRAs) are retirement savings accounts that offer certain tax-advantages. Some types of IRAs, including traditional and inherited Roth IRAs, are subject to required minimum distribution (RMD) rules.
What is an RMD on an IRA? In simple terms, it’s a withdrawal you make from an RMD every year once you reach a certain age. RMDs are a way for the IRS to ensure that retirement savers meet their tax obligations. Failing to take distributions when you’re supposed to could result in a tax penalty, so it’s important to know when you must take an RMD on an IRA.
Key Points
• Required minimum distributions (RMDs) are mandatory withdrawals from IRAs that account owners must start taking at age 73, as per IRS rules.
• RMDs apply to traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, and other defined contribution plans.
• The RMD amount account holders need to withdraw is calculated using the IRS Uniform Lifetime or life expectancy tables.
• Failing to take RMDs can result in a 25% excise tax, reduced to 10% if corrected within two years.
• RMDs are taxed as ordinary income, and qualified charitable distributions (QCDs) can be used to reduce tax liability.
Required Minimum Distribution (RMD) Definition
A required minimum distribution is an amount you need to withdraw from an IRA account each year once you turn 73. (In 2023 the SECURE 2.0 Act increased the age that individuals had to start taking RMDs to age 73 for those who reach 72 in 2023 or later.) You can take out more than the minimum amount with an RMD, but you must withdraw at least the minimum to avoid an IRS tax penalty.
The minimum amount you need to withdraw when taking an RMD is based on specific IRS calculations (see more about that below).
Special Considerations for RMDs
RMD rules apply to multiple types of retirement accounts. You’re subject to RMDs if you have any of the following:
You must calculate RMDs for each account separately.
Failing to take RMD distributions from IRAs or other eligible investment accounts on time can be costly. The SECURE 2.0 Act allows the IRS to assess a 25% excise tax on the amount you failed to withdraw. That penalty might drop to 10% if the RMD is properly corrected within two years.
Why Do You Have to Take an RMD?
The IRS imposes RMD rules on IRAs and other retirement accounts to prevent savers from deferring taxes on earnings indefinitely. Here’s how it works.
When you contribute to a traditional IRA, SEP IRA, SIMPLE IRA, 401(k), or a simple retirement plan, you fund your account with pre-tax dollars (meaning you haven’t yet paid tax on that money). In exchange, you may be able to deduct some or all of the contributions you make.
Your account grows tax-deferred, and when you make qualified withdrawals in retirement, you pay ordinary income tax on earnings. If you were to leave the money in your IRA untouched, the IRS couldn’t collect tax on earnings, hence the need for RMDs.
Roth IRAs generally don’t have RMDs. When you make contributions to a Roth account you use after-tax dollars — in other words, you’ve already paid taxes on that money. So you don’t have to pay taxes again when you make qualified withdrawals in retirement. However, if you inherit a Roth IRA, you will be required to take RMDs.
RMDs for Roth and Traditional IRAs
When you open an IRA, you will typically choose between a Roth IRA or traditional IRA. There are differences between them when it comes to RMDs. Traditional IRAs are always subject to RMD rules. If you contribute to a traditional IRA, whether you max out the annual contribution limit or not, you can expect to take RMDs from your account later. RMD rules also apply when you inherit a traditional IRA.
Are there RMDs on Roth IRA accounts? No, if you’re making original contributions to a Roth IRA that you own. But you will need to take RMDs if you inherit a Roth IRA from someone else.
The IRS determines when you must take distributions from an inherited Roth IRA. The timing depends on whether the person you inherited a Roth IRA from was your spouse and whether they died before 2020 or in 2020 or later.
If you inherit an IRA from a spouse who passed away before 2020, you may:
• Keep the account as your own, taking RMDs based on your life expectancy, or follow the 5-year rule, meaning you generally fully withdraw the account balance by the end of the 5th year following the year of death of the account holder
OR
• Roll over the account to your own IRA
If you inherit an IRA from a spouse who passed away in 2020 or later, you may:
• Keep the account as your own, taking RMDs based on your life expectancy, delay beginning distributions until the spouse would have turned 72, or follow the 10-year rule, generally fully withdrawing the account balance by the end of the 10th year following the year of death of the account owner
OR
• Roll over the account to your own IRA
If you inherit an IRA from someone who is not your spouse and who passed away before 2020, you may:
• Take distributions based on your own life expectancy beginning the end of the year following the year of death
OR
• Follow the 5-year rule
If you inherited an IRA from someone who is not your spouse and who passed away in 2020 or later and you are a designated beneficiary, you may:
• Follow the 10-year rule
IRA withdrawal rules for inherited IRAs can be tricky so if you know that someone has named you as their IRA beneficiary, you may find it helpful to discuss potential tax implications with a financial advisor.
How To Calculate RMDs on an IRA
To calculate RMDs on an IRA, you divide the balance of your account on December 31 of the prior year by the appropriate life expectancy factor set by the IRS. The IRS publishes life expectancy tables for RMDs in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs). You choose the life expectancy table that applies to your situation.
IRA Required Minimum Distribution Table Example
The IRS uses the Uniform Lifetime Table to determine RMDs for people who are:
• Unmarried account owners
• Married IRA owners whose spouses aren’t more than 10 years younger
• Married IRA owners whose spouses are not the sole beneficiaries of their account
Here’s how RMD distributions break down.
Age
Distribution Period (Years)
Age
Distribution Period (Years)
72
27.4
97
7.8
73
26.5
98
7.3
74
25.5
99
6.8
75
24.6
100
6.4
76
23.7
101
6.0
77
22.9
102
5.6
78
22.0
103
5.2
79
21.1
104
4.9
80
20.2
105
4.6
81
19.4
106
4.3
82
18.5
107
4.1
83
17.7
108
3.9
84
16.8
109
3.7
85
16.0
110
3.5
86
15.2
111
3.4
87
14.4
112
3.3
88
13.7
113
3.1
89
12.9
114
3.0
90
12.2
115
2.9
91
11.5
116
2.8
92
10.8
117
2.7
93
10.1
118
2.5
94
9.5
119
2.3
95
8.9
120 and over
2.0
96
8.4
Source: IRS Uniform Lifetime Table
And here’s an example of how you might use this table to calculate RMDs on an IRA.
Assume that you’re 75 years old and have $1 million in your IRA as of last December 31. You find your distribution period on the chart, which is 24.6, then divide your IRA balance by that number.
$1 million/24.6 = $40,650 RMD
You’ll need to recalculate your RMDs each year, based on the new balance in your IRA and your life expectancy factor. You can use an online calculator to figure out RMD on an IRA annually.
Withdrawing Required Minimum Distribution From an IRA
There are two deadlines to know when making RMDs from an IRA: when distributions must begin and when you must complete distributions for the year. The SECURE 2.0 Act introduced some changes to the timing of RMD withdrawals from an IRA.
When Do RMDs Start?
Beginning in 2023, the minimum age at which you must begin taking RMDs rose to 73 (that’s the same age you must begin taking RMDs for 401(k)s, in case you are wondering). The deadline for the very first RMD you’re required to make when you turn 73, is April 1 of the following year. So, if you turned 73 in 2025, then your first RMD would be due no later than April 1, 2026.
Once you make your first RMD, all other RMDs after that are due by December 31 each year. So, using the example above, if you make your first RMD on April 1, 2026, then you’d need to make your second RMD by December 31 of that same year to avoid a tax penalty. Just keep in mind that taking two RMDs in one year could increase your tax burden for the year.
Qualified Charitable Distributions (QCDs)
Qualified charitable distributions (QCDs) are amounts you contribute to an eligible charity from your IRA. QCDs are tax-free and count toward your annual RMD amount, and you can contribute up to $100,000 per year. Using your IRA to make QCDs can lower the amount of tax you have to pay while supporting a worthy cause.
For a distribution to count as a QCD, it must be made directly from your IRA to an eligible charity. You can’t withdraw funds from your IRA to your bank account and then use the money to write a check to your favorite charity.
Note that QCDs are not tax-deductible on Schedule A, the way that other charitable donations are.
How RMDs Are Taxed
RMDs are taxed as ordinary income, assuming that all of the contributions you made were tax-deductible. If you have a traditional IRA, your RMDs would be taxed according to whichever bracket you fall into at the time the withdrawals are made.
With an inherited Roth IRA, withdrawals of original contributions are tax-free. Most withdrawals of earnings from an inherited Roth IRA are also tax-free unless the account is less than five years old at the time of the distribution.
The Takeaway
The IRS requires you to take RMDs on certain types of IRAs, including traditional IRAs and inherited Roth IRAs. Knowing at what age you’re required to take money from an IRA and your deadline for withdrawing it can help you plan ahead and avoid a potentially steep tax penalty.
In general, coming up with a financial plan for your future can help you work toward your retirement goals. You can consider different options for saving and investing, including IRAs, 401(k)s, or other types of savings or investment vehicles, to help determine the best fit for your money.
Prepare for your retirement with an individual retirement account (IRA). It’s easy to get started when you open a traditional or Roth IRA with SoFi. Whether you prefer a hands-on self-directed IRA through SoFi Securities or an automated robo IRA with SoFi Wealth, you can build a portfolio to help support your long-term goals while gaining access to tax-advantaged savings strategies.
Invest with as little as $5 with a SoFi Active Investing account.
FAQ
What happens if you don’t take RMDs from an IRA?
Failing to take an RMD from an IRA on time can result in a tax penalty. The current penalty is generally a 25% excise tax, assessed against the amount you were required to withdraw.
Do you have to take your IRA RMD if you are still working?
You do have to take RMDs from an IRA even if you’re still working. It’s worth noting that the IRS does typically allow you to defer RMDs from a 401(k) while you’re working — however, that rule doesn’t extend to IRAs.
Are you required to use IRA RMD money for specific purposes?
You can use RMDs money in any way that you like. Some common uses for IRA RMDs include medical expenses, home repairs, and day-to-day costs. You can also use IRA RMDs to make qualified charitable donations (QCD), which could minimize some of the tax you might owe. QCDs must be made directly from your IRA to the charity.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/FG Trade
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest is a trade name used by SoFi Wealth LLC and SoFi Securities LLC offering investment products and services. Robo investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Brokerage and self-directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC.
For disclosures on SoFi Invest platforms visit SoFi.com/legal. For a full listing of the fees associated with Sofi Invest please view our fee schedule.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
An IRA recharacterization allows you to make changes to the type of contribution you made to one IRA by transferring it to a second IRA within the same tax year. For example, you might recharacterize traditional IRA contributions as Roth contributions, or vice versa.
This process is different from an IRA conversion, which is not limited to the tax year in which you made a contribution. A conversion typically involves moving funds from a traditional IRA into a Roth IRA, not the reverse. In most cases, you would owe income tax on the amount converted to a Roth.
There are different reasons for the recharacterization of an IRA, and some important IRS rules to know for completing one.
Key Points
• An IRA recharacterization allows you to change the type of IRA contribution made within the same tax year, such as from traditional to Roth IRA or vice versa.
• Executing a recharacterization typically involves notifying the IRA custodian, opening a second IRA, if needed, and meeting the tax-filing deadline or extension.
• Reasons for recharacterization may include avoiding tax penalties for excess contributions, or taking advantage of certain tax benefits.
• A recharacterization differs from a conversion, which can be done anytime with contributions from multiple years, and typically involves moving funds from a traditional IRA to a Roth IRA.
• Following the Tax Cuts and Jobs Act passed in 2017, a conversion from a traditional IRA to a Roth IRA cannot be reversed using a recharacterization.
What Is an IRA Recharacterization?
An IRA recharacterization allows you to treat contributions made to one type of IRA as contributions made to a second, different type of IRA. The IRS allows taxpayers to recharacterize contributions to traditional or Roth IRAs only up until the tax-filing deadline each year, assuming you meet relevant income limits and other restrictions for the second IRA account.
For instance, say you deposit money in a Roth IRA, but when it’s time to file taxes you realize that you’ve made contributions in excess of what’s allowed for your tax filing status and income (see details below).
You could execute a recharacterization to have some of that contribution amount treated as traditional IRA contributions for the tax year, and transfer the assets (and any earnings or net losses) to the second IRA.
In that scenario, a recharacterization of Roth IRA contributions could allow you to avoid the 6% excise tax penalty the IRS imposes on excess contributions.
How Do IRA Recharacterizations Work?
IRA recharacterizations work by allowing you to change your IRA contributions for the year from one type of IRA to another. The process is fairly simple; you’ll just need to notify the company, a.k.a. the custodian that holds your IRA, that you’d like to recharacterize your contributions, and open a second IRA for that purpose (unless you have an existing IRA).
You can also transfer the amount you want recharacterized to an IRA at a different institution. This is known as a trustee-to-trustee transfer. In most cases, either one of these methods is preferable to withdrawing the money and redepositing it yourself, which can be tricky and could lead to taxes and/or a penalty if you fail to transfer the money within a 60-day window.
Again, you have until the annual IRA contribution deadline to complete an IRA recharacterization. If you filed an extension, then you’ll have until the October extension-filing cutoff. You should receive a Form 1099-R documenting the recharacterization that you’ll need to file with your tax return.
Reasons for a Recharacterization
Why would you need to recharacterize IRA contributions? There are reasons for doing a recharacterization in either direction (Roth to traditional IRA, or traditional IRA to a Roth). You might consider recharacterization if you:
• Contributed too much to a Roth IRA for the year and need to shift some of that money to a traditional IRA in order to avoid a tax penalty.
• Made traditional IRA contributions, but later learned that you can’t deduct them because you’re covered by a retirement plan at work and your income puts you over the threshold to claim a deduction.
• Contributed to a Roth IRA, but believe you’d benefit more from getting a deduction for traditional IRA contributions.
• Initially contributed to a traditional IRA, but later decided that you’d prefer to contribute to a Roth IRA to enjoy its tax benefits later in life.
Sample Calculation of IRA Recharacterization
How you calculate an IRA recharacterization can depend on whether you’re recharacterizing some or all of your contributions for the year. To keep things simple, let’s assume that you contributed $5,000 to a Roth IRA at the beginning of the year. The IRA earned $1,000 in investment gains.
You’d now like to recharacterize the entire amount to a traditional IRA. You’d tell your IRA custodian that you’d like to do a full recharacterization. This strategy does not require a separate calculation of investment earnings, because the entire balance of the IRA is being recharacterized.
However, if you only wanted to convert $3,000 of your contributions you’d have to do a separate calculation to figure the amount of earnings that need to be recharacterized.
The IRS offers a formula for doing so, which looks like this:
Net Income = Contributions x (Adjusted closing balance – Adjusted opening balance) / Adjusted opening balance
If you don’t want to do the math by hand, it might be easier to plug the numbers into an IRA recharacterization calculator, or consult with a tax professional.
Pros and Cons of Recharacterizing an IRA
There are pros and cons to using a recharacterization strategy.
Pros
IRA recharacterization offers some flexibility with regard to how your IRA contributions are treated, if your financial circumstances or tax considerations change.
If you start off the year making one type of IRA contribution, you can decide to switch things up at any time before the tax filing deadline. There’s no penalty for changing your mind about what type of IRA contributions you’d like to make, as long as you’re doing so before the filing or extension deadlines.
Recharacterizing an IRA is a simpler process than converting IRA assets, which we’ll discuss shortly. There’s less paperwork involved, and since the transaction can be completed by the custodian without any money being withdrawn from your IRA, a recharacterization can be a more tax-efficient way to adjust your contribution choices.
Cons
That said, there are downsides to a recharacterization. For one thing, you’ll need to be mindful of the tax filing deadlines if you want to recharacterize IRA contributions. If you miss the tax or extension deadline, you won’t be able to recharacterize your contribution amount.
If you recharacterize traditional IRA contributions as Roth IRA contributions, you will owe taxes.
If you recharacterize Roth IRA contributions as traditional IRA contributions, you can only claim the tax deduction a) if you qualify and b) you cannot deduct any earnings on the original contribution, if there were any.
Recharacterization vs. Conversion of an IRA
Recharacterization of an IRA and an IRA conversion are not the same thing. When you recharacterize IRA contributions, you’re changing the type of contributions you made for that specific tax year.
When you convert an IRA, you’re moving money from one type of IRA to another that may include contributions from multiple years. Generally, an IRA conversion refers to moving money from a traditional IRA to a Roth IRA.
If you have a Roth IRA, there would be little benefit to doing a conversion to a traditional IRA since you couldn’t then take the tax deduction. Also, if you first converted a traditional IRA to a Roth, it’s no longer possible to convert it back to a traditional IRA, thanks to changes implemented by the 2017 Tax Cuts and Jobs Act.
For example, you might have chosen a traditional option when opening your first IRA but later decided that you’d like to have the tax benefits of a Roth IRA. Converting an IRA to a Roth would allow you to make contributions to a Roth IRA if you’d otherwise be prevented from doing so because your income is too high.
As noted, you’d have to pay taxes on the money you’re converting to a Roth IRA, because the money you deposited in your traditional IRA originally was tax deductible. Roth IRAs are funded with after-tax contributions.
IRA Recharacterization
IRA Conversion
How It Works
Recharacterization allows you to change the type of IRA contributions you make for the current tax year.
Conversion allows you to move amounts in one type of IRA to another, typically a traditional IRA to a Roth IRA.
Rules
Recharacterizations must be completed before the annual tax filing deadline.
Conversions can be done at any time and may include contributions made over multiple years.
Advantages
IRA recharacterization allows some flexibility in deciding what type of IRA contributions you want to make.
Converting a traditional IRA to a Roth IRA can allow you to take advantage of tax-free withdrawals in retirement.
Disadvantages
You must complete a recharacterization by the tax filing deadline or extension deadline; you cannot recharacterize IRA contributions pertaining to one year in a subsequent year.
You will likely owe taxes on converted amounts, which can increase your tax bill.
The Takeaway
Recharacterization of an IRA could make sense if it allows you to gain a tax advantage, or avoid a tax penalty for excess contributions. If you’re unsure whether a recharacterization makes sense, it might be a good idea to talk to a tax professional first.
Prepare for your retirement with an individual retirement account (IRA). It’s easy to get started when you open a traditional or Roth IRA with SoFi. Whether you prefer a hands-on self-directed IRA through SoFi Securities or an automated robo IRA with SoFi Wealth, you can build a portfolio to help support your long-term goals while gaining access to tax-advantaged savings strategies.
Easily manage your retirement savings with a SoFi IRA.
FAQ
Are IRA recharacterizations still allowed?
Yes, the IRS still allows IRA recharacterizations. There are some limitations, however, as converted IRAs cannot be recharacterized back, after the fact. You also can’t recharacterize rollovers from a 401(k) or 403(b) to a Roth IRA either.
What is the reason for recharacterizing an IRA?
One of the most common reasons to recharacterize Roth IRA contributions is to avoid a tax penalty for having made excess contributions. It may also be necessary to recharacterize Roth contributions in order to be able to claim a tax deduction for traditional IRA contributions.
Meanwhile, one reason to recharacterize traditional IRA contributions might be that you don’t qualify for the full (or any) tax deduction, and therefore a Roth might look appealing from a tax standpoint.
What is the difference between an IRA conversion and recharacterization?
Converting an IRA means moving assets from one type of IRA to another, typically involving amounts you’ve contributed over several years. Recharacterization of IRA contributions is more limited, and it means you’ve changed your mind about the type of contributions you want to make for the current tax year. A recharacterization of IRA contributions can only be done only for the tax year the contributions were made; an IRA conversion can be done at any time.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/nortonrsx
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest is a trade name used by SoFi Wealth LLC and SoFi Securities LLC offering investment products and services. Robo investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Brokerage and self-directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC.
For disclosures on SoFi Invest platforms visit SoFi.com/legal. For a full listing of the fees associated with Sofi Invest please view our fee schedule.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Disclaimer: The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Wine investing may appeal to investors seeking exposure to alternative asset classes. Owning wine as an investment can add diversification to a portfolio, which can act as an inflationary hedge and a buffer against market volatility.
And while investing in a tangible asset has its own risks, wine can potentially offer returns over time. Online platforms have made it easier to invest in wine, though some investors may prefer to build a physical collection of their own. There are pros and cons to both approaches to investing in wine.
The Rise of Wine as an Alternative Investment
Wine holds some attraction for investors, and it’s gained popularity as an alternative investment in recent years. Fine wine assets recorded an average growth of 146% during the 10 years ending in the fourth quarter of 2023.
Technology has also reshaped the wine investing landscape. Investors are no longer limited to setting up their own wine cellar; online platforms offer access to diversified portfolios of fine wines and premium whiskies. The barrier to entry can be lower in some cases, making wine a more accessible investment overall.
In addition, investing in wine is an opportunity to explore your passions. If you consider yourself a wine connoisseur, holding wine as an investment could be a natural fit. As with any type of investment, it helps to be engaged in the assets you own.
Alternative investments, now for the rest of us.
Explore trading funds that include commodities, private credit, real estate, venture capital, and more.
Is Wine a Good Investment Option?
Wine offers some unique advantages for investors who are interested in adding something different to their portfolio. Historically, investment-grade wine returns an average compound annual growth rate of 10%. As a point of comparison, since its inception the S&P 500 has also delivered historical returns of about 10% annually.
To better track the wine market, investors may want to become familiar with benchmarks like the London International Vintners Exchange (aka, the Liv-ex). Similar to how the S&P 500 index is the benchmark for U.S. equities, the Liv-ex tracks the international wine market.
While it’s possible to debate whether wine should be considered a commodity vs. a security, there’s no question that many investors turn to wine as an investment. Following are some of the reasons investors find it to be an attractive option:
• Investing in wine allows for diversification with little to no correlation to stocks, bonds, and other traditional asset classes.
• Like real estate and other alternatives, wine is generally less susceptible to disruptions in the market that may result in increased volatility.
• Wine investments may hold steady during periods of rising inflation or market downturns, including recessionary periods.
• Fine wines can be an effective risk management tool when held alongside more traditional assets.
Risks and Considerations of Wine Investing
Before exploring wine investments, it’s helpful to consider the potential risks. For example:
• Wine may require a sizable initial investment if you’re purchasing individual bottles or buying into a private placement wine fund.
• Similar to the risks of investing in art, transporting and insuring physical wine collections can be expensive, and you face the risk of bottles being damaged or spoiled.
• Wine generally requires a longer holding period than other investments, which may not be ideal if you don’t want to be “locked in” for a certain time frame.
• Wine investment requires thorough due diligence to ensure that you’re working with a reputable platform, auction house, exchange, or private seller.
• Supply and demand, weather and climate conditions, and geopolitical events can all influence the value of fine wines.
Lastly, remember that nothing is guaranteed with wine or any other alternative asset class, like gold or real estate. While it’s certainly possible to generate substantial returns through wine investments, it can be just as easy to lose money.
Building a Portfolio
There are several ways to build a portfolio that includes wine investments. Your options for investing in wine include:
• Purchasing physical bottles of wine
• Investing in wine funds
• Buying wine stocks
• Investing in wine futures
The first step in building a wine portfolio is deciding which investment option makes the most sense.
Buying Fine Wine
Owning physical wine assets can be time-consuming and expensive, as you’ll need to research the wines you want to buy, arrange for their purchase and delivery, and ensure they’re stored appropriately to prevent spoilage. You may need to insure the wine you buy.
If you’re interested in collecting wines, you may use online or in-person auctions or wine exchanges to seek out your preferred vintages.
Wine Funds and Wine Stocks
Investing in wine funds may be more appealing if you don’t want the burden of maintaining a physical collection, or you want exposure to a diversified mix of wines. Investors can trade mutual funds or exchange-traded funds (ETFs) that include alcohol-producing companies, as well as companies in the wine sector.
It’s also possible to buy individual shares of stock in wineries and wine companies. Getting to know the wine industry, various technologies, and the relevance of different companies and products is key, as it would be when investing in any type of stock.
Wine Investing Platforms
Private placements are another option. Wine investing platforms allow access to actively managed portfolios of fine wines and premium spirits through private placement. One thing to note is that you may need to be an accredited investor to pursue private wine investments. The SEC defines accredited investors as individuals who have:
• Net worth exceeding $1 million (not including their primary residence), OR
• Income over $200,000 individually ($300,000 for married couples) in each of the two prior years, with a reasonable expectation of the same income in future years, OR
• A valid Series 7, Series 65, or Series 82 securities license
Wine Futures
If you’re comfortable with speculative investments, you might consider investing in wine futures. Similar to investing in commodities futures, this strategy involves investing in wines before they’re bottled. You can purchase specific vintages via futures contracts before they’re released, which may allow a competitive edge in the market if those vintages are highly sought after upon release.
As with commodities futures, there can be substantial risks to this strategy. Futures are derivative investments, meaning their value is determined by the price of the underlying asset, i.e., the wine you’re agreeing to trade. And outcomes rely largely on investors making correct assumptions about which commodity prices will move. It’s possible to lose money on futures contracts if you’re expecting prices to increase but they decline instead.
Managing a Wine Investment Portfolio
How you manage wine investments can depend largely on how you own them. If you’re collecting physical bottles, for instance, then your primary considerations include:
• Storage
• Transport, if you need to move your collection or are ready to sell at auction
• Timing and when it makes sense to sell, once a wine matures
• Wine insurance to protect your investment against losses stemming from theft, damage, and other covered perils
With wine funds and stocks, you’ll need to consider diversification and what you’re gaining exposure to, as well as the overall cost of owning those investments. It’s also important to look at the minimum investment required, as well as the holding period where wine funds are concerned.
Wine typically requires longer holding periods than stocks or bonds and you need to be comfortable with how long you may have to wait to sell your investment.
How much of your portfolio should you dedicate to wine investments? The answer can depend on how much money you have to invest, the degree of risk you’re comfortable with, and your goals for investing in wine. There’s no fixed rule of thumb for deciding how much of a portfolio to invest in alternatives. For some investors, 5% is more than enough while others may be comfortable with 10% or more.
Reviewing the entirety of your portfolio, your time horizon for investing, and your goals can give you a better idea of how much to invest in wine.
Wine is just one way to diversify a portfolio. If you’re ready to explore alternative investments, SoFi Invest offers access to a range of choices, including commodities, private credit, and real estate. Almost anyone can invest, and high net worth isn’t a requirement.
Ready to expand your portfolio's growth potential? Alternative investments, traditionally available to high-net-worth individuals, are accessible to everyday investors on SoFi's easy-to-use platform. Investments in commodities, real estate, venture capital, and more are now within reach. Alternative investments can be high risk, so it's important to consider your portfolio goals and risk tolerance to determine if they're right for you.
Invest in alts to take your portfolio beyond stocks and bonds.
FAQ
What factors make wine a viable alternative investment?
Wine is considered an alternative investment thanks to its low correlation with traditional asset classes like stocks and bonds. Investing in wine can act as an inflationary hedge and provide some protection against market volatility. It’s also an opportunity to invest in something you’re passionate about if collecting or enjoying wine is one of your hobbies.
What are the potential risks of investing in fine wines?
The main risks associated with wine investing center on changing valuations and the potential for damage or spoilage of physical wine collections. Changing supply and demand or poor weather can influence wine prices while maintaining a wine inventory has its risks. If you plan to own wines, it’s wise to purchase wine insurance to protect your investment.
How can investors build and manage a diversified wine portfolio?
Building a diversified wine portfolio begins with deciding how you’d prefer to own wines. Physical ownership has its pros and cons and some investors may choose to invest in alt funds, wine stocks, or wine futures instead. Managing your wine investments requires regular review of performance and asset allocation to ensure that you’re maintaining a diversified mix that aligns with your risk tolerance.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/arismart
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest is a trade name used by SoFi Wealth LLC and SoFi Securities LLC offering investment products and services. Robo investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Brokerage and self-directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC.
For disclosures on SoFi Invest platforms visit SoFi.com/legal. For a full listing of the fees associated with Sofi Invest please view our fee schedule.
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. This and other important information are contained in the Fund’s prospectus. For a current prospectus, please click the Prospectus link on the Fund’s respective page. The prospectus should be read carefully prior to investing.
Alternative investments, including funds that invest in alternative investments, are risky and may not be suitable for all investors. Alternative investments often employ leveraging and other speculative practices that increase an investor's risk of loss to include complete loss of investment, often charge high fees, and can be highly illiquid and volatile. Alternative investments may lack diversification, involve complex tax structures and have delays in reporting important tax information. Registered and unregistered alternative investments are not subject to the same regulatory requirements as mutual funds.
Please note that Interval Funds are illiquid instruments, hence the ability to trade on your timeline may be restricted. Investors should review the fee schedule for Interval Funds via the prospectus.
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by emailing customer service at [email protected]. Please read the prospectus carefully prior to investing.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Disclaimer: The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Palladium investment is gaining popularity as investors seek precious metal options beyond gold and silver. That’s in part because alternative investments, such as precious metals, can provide portfolio diversification and the potential for returns. Though there are significant risks to be aware of, too.
Palladium investing may be attractive to some investors due to its relative rarity and affordability compared to gold, and it’s fairly easy to buy and sell. But it’s important to understand how this asset class works before diving in. Let’s look at how to invest in palladium and the pros and cons of holding precious metals in a portfolio.
Key Points
• Palladium prices are influenced by supply and demand, with major production in Russia and Africa.
• Significant demand for palladium comes from the automotive industry, especially for catalytic converters.
• Major companies in the palladium industry include Norilsk Nickel, Anglo American Platinum, and Sibanye-Stillwater.
• Investment options in palladium include physical bars, coins, ETFs, futures, and shares in mining companies.
• Investing in palladium offers diversification and inflation protection but involves storage costs, price volatility, and liquidity risks.
What Is Palladium?
Palladium is a silvery-white element that assumes a solid form at room temperature but can be heated to a liquid state. Part of the platinum group of metals, palladium was first discovered in 1803 by William Hyde Wollaston, an English chemist. It was named after the asteroid Pallas, which was discovered around the same time.1
Common uses for palladium include:
• Watch springs
• Surgical instruments
• Dental fillings and crowns
• Electrical contacts
• Catalytic converters
Palladium can also be used to make jewelry and forms white gold when alloyed with gold.
Explore trading funds that include commodities, private credit, real estate, venture capital, and more.
The Palladium Market
Interest in palladium investments has grown in recent years as demand for it remains steady.
Supply and Demand Dynamics
Supply and demand can influence pricing for any good, including palladium and other precious metals. Palladium’s relative scarcity influences the supply side, while demand is determined by the market. Several factors affect the availability of palladium and demand for it, including:
• Production. In its pure form, palladium is most often found in Russia and Africa, with smaller concentrations in Australia, Canada, the U.S., and Finland. Slowdowns in production can affect supply and in turn, drive up prices if demand remains high.2
• Recycling. Recycling can re-introduce palladium into the supply. When recycling increases, the supply can increase to help meet demand and keep prices stable.
The largest demand for palladium comes from the automobile industry, according to the World Platinum Investment Council (WIPC). An uptick in global vehicle production in 2023, in particular, sparked a surge in demand for palladium which led to a supply deficit. However, that deficit is on track to become a surplus by 2026 thanks to recycling, according to the WIPC.3
Key Players in the Palladium Industry
Several companies operate in the palladium market, though one claims the title as the largest producer. Norilsk Nickel (Nornickel) is a global leader in palladium production and mining. It holds the largest position for palladium and nickel production in the world market and is also a key producer of platinum, rhodium, and copper.4
Other top palladium producers include:
• Anglo American
• Platinum, LTD.
• Sibanye-Stillwater
• Impala Platinum Holdings, LTD.
• Vale
These companies mine palladium along with other platinum group metals, though on a smaller scale than Nornickel.
Investment Options for Palladium
Investing in precious metals like palladium is not one-size-fits-all and there are several ways to do it. The most common ways to own palladium as an investment include:
• Buying and selling palladium bars
• Trading palladium coins
• Investing in palladium exchange-traded funds (ETFs)
• Trading palladium futures
The first two options may be preferable if you’d rather make a tangible investment in precious metals. Palladium bars or coins are relatively easy to buy, though they do require proper storage to preserve the metal’s integrity.
Palladium ETFs offer exposure to a basket of investments in a single vehicle, without requiring any type of physical holding. Palladium futures, meanwhile, are speculative investments that can offer higher returns but carry more risk.
Factors Influencing Palladium Prices
Palladium prices can fluctuate based on a variety of factors, starting with supply and demand. When supply shrinks and demand increases, that can result in a higher price. As of January 23, 2025, the price was around $1,000. That’s significantly below the average closing price of $2,388.36 registered in 2021.9
Supply and demand can, in turn, be affected by factors that affect palladium pricing. Geopolitical events that disrupt production in countries where palladium mining has a sizable footprint, for instance, can send prices soaring if there’s a significant reduction in available supply.
The global economy also plays a part. If the global economy is strong overall, that can lead to more demand for palladium and potentially higher prices. When the global economy begins to slow, on the other hand, prices may fall if demand declines.
Palladium and precious metals in general can offer some advantages to investors. Here are some of the best reasons to consider palladium investment.
• Diversification. Alt investments like palladium can add a degree of diversification to your portfolio.
• Accessibility. Some alternative investments, like classic cars, often have a higher barrier to entry. Investing in palladium, by contrast, is relatively easy and there are multiple ways to do it.
• Inflationary protection. Palladium and precious metals are considered to be an inflationary hedge, which can help protect your purchasing power if consumer prices rise.
You can even use palladium to fund your retirement through a self-directed IRA. Along with gold, silver, and platinum, it’s one of four precious metal investments the IRS allows with these tax-advantaged accounts.
Risks Associated With Palladium Investment
Palladium investing is not risk-free and it’s important to consider the potential downsides before adding precious metals to your portfolio. Here are some of the most significant risks associated with owning palladium as an investment.
• Storage costs. If you’re buying palladium bars or coins you’ll need to store them properly, which may require an additional investment of both time and money.
• Pricing volatility. Palladium pricing is highly sensitive and a change in market conditions or a geopolitical event could result in a substantial shift overnight.
• Liquidity. Precious metals are liquid assets since they can easily be sold for cash, but the price you get may be below your expectations depending on the timing of the transaction and the overall condition of the market.
The initial investment for palladium bars or coins is also a consideration. If you have $1,000 to invest you’d have to consider carefully whether you’d rather use that to buy one palladium bar, or invest in 10 shares of a palladium ETF that’s trading for $100.
💡 Quick Tip: All investments come with some degree of risk — and some are riskier than others. Before investing online, decide on your investment goals and how much risk you want to take.
How to Buy and Store Physical Palladium
If you want to invest in physical palladium you can purchase bars or coins from a reputable dealer. You may buy palladium through a local bullion dealer that sells palladium bars and coins, or from an online company.
The advantage of buying locally is being able to physically see what you’re buying before you make a purchase. You can ask questions and should you decide to buy, walk away with your bars or coins in hand without paying a shipping fee. If you plan to sell your bars or coins, you could take them back to the same dealer to get an offer.
With an online dealer, you’re limited to reading descriptions and viewing pictures of the coins or bars you plan to buy. Once you’re ready to invest, you’ll have to arrange to send payment and pay shipping costs to transport your bars or coins to you.
When it’s time to store your coins or bars you may choose to do so at home or in a safe deposit box at your bank. If you store your palladium at home you may want to invest in a specially-made box that’s designed to hold precious metals and keep it inside a fireproof safe.
Should you go the bank route, note that safe deposit boxes and their contents are not FDIC-insured.
Palladium ETFs and Mutual Funds
Palladium ETFs and mutual funds offer exposure to palladium and precious metals investments in a single basket. Exchange-traded funds trade on an exchange like stocks while mutual funds settle once per day.
If you’re considering a palladium ETF, look at the underlying investments to know what you’ll own. For example, Aberdeen Physical Palladium Shares ETF (PALL) holds palladium bars in a secure vault so you can own physical precious metals indirectly. Other palladium ETFs, meanwhile, may invest in palladium mining companies instead.
Aside from holdings, consider the expense ratio, which is the price you’ll pay annually to own a palladium ETF or mutual fund. Also, look at the fund’s history to see how its price and return profile have trended over the years. Just remember that past history is not an indicator of future performance.
Investing in Palladium Mining Companies
If you’re comfortable trading individual stocks you might trade shares of palladium mining companies. trading stocks versus investing through an ETF or mutual fund has pros and cons.
You’ll need to decide how much to invest and which companies to invest in, based on their performance outlook, risk profile, and share price. You’ll also need to have a strategy for holding those stocks. Ask yourself:
• How long will you hold the shares?
• What are the tax implications of selling those shares at a gain?
• How much of your total portfolio will you allocate to palladium and/or other precious metals?
You’ll need a brokerage account to buy and sell stock shares online but it’s relatively easy to get started. The first step is finding a brokerage that offers access to palladium stocks or futures. From there, you’ll just need to set up an account to start investing.
Palladium vs. Other Precious Metals
Palladium has one notable characteristic working in its favor compared to other precious metals. It’s much rarer than gold or silver, which can potentially drive up the price through imbalances in supply and demand.
The downside, however, is that palladium prices tend to be more volatile than gold or silver prices. That means you’re trading off a certain amount of stability and taking more risk with palladium investments.
Liquidity is also a concern, as gold and silver investments may be easier to sell on the fly. Palladium, though gaining ground as an investment, is still a relatively new player compared to gold and silver. Investors who are looking to buy precious metals may bypass palladium for investments they perceive as being more price-stable.
Investing in palladium may be new territory for you and if it is, it’s important to do your research beforehand. Specifically, you should have a good understanding of what can affect palladium prices and how its risk/reward profile aligns with your risk tolerance.
If you’re brand-new to online investing, consider looking for a brokerage that charges minimal fees and offers an easy, online account setup. The sooner you start investing, the sooner you can get on track with your financial goals. In the meantime, check out our guide to alternative investments to learn more about building a portfolio with precious metals.
Ready to expand your portfolio's growth potential? Alternative investments, traditionally available to high-net-worth individuals, are accessible to everyday investors on SoFi's easy-to-use platform. Investments in commodities, real estate, venture capital, and more are now within reach. Alternative investments can be high risk, so it's important to consider your portfolio goals and risk tolerance to determine if they're right for you.
Invest in alts to take your portfolio beyond stocks and bonds.
FAQ
What industries drive the demand for palladium?
The automotive industry is the biggest demand driver for palladium, according to the WPIC. Vehicle manufacturers use palladium to make catalytic converters which help power cars and trucks.
How does palladium compare to other precious metals as an investment?
Palladium has a higher scarcity factor than gold, silver, and other precious metals. When supply is low relative to demand, prices may soar. The biggest risk with palladium investments, however, is price volatility. That’s something to consider if you’re debating how to invest in gold vs. palladium or other precious metals.
What are the ways to invest in palladium?
You have several possibilities for owning palladium as an investment. You might choose to buy palladium bars or coins and store them, or you could invest online with palladium ETFs or mutual funds. Trading individual shares of palladium mining companies is also an option.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/Delmaine Donson
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest is a trade name used by SoFi Wealth LLC and SoFi Securities LLC offering investment products and services. Robo investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Brokerage and self-directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC.
For disclosures on SoFi Invest platforms visit SoFi.com/legal. For a full listing of the fees associated with Sofi Invest please view our fee schedule.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. This and other important information are contained in the Fund’s prospectus. For a current prospectus, please click the Prospectus link on the Fund’s respective page. The prospectus should be read carefully prior to investing.
Alternative investments, including funds that invest in alternative investments, are risky and may not be suitable for all investors. Alternative investments often employ leveraging and other speculative practices that increase an investor's risk of loss to include complete loss of investment, often charge high fees, and can be highly illiquid and volatile. Alternative investments may lack diversification, involve complex tax structures and have delays in reporting important tax information. Registered and unregistered alternative investments are not subject to the same regulatory requirements as mutual funds.
Please note that Interval Funds are illiquid instruments, hence the ability to trade on your timeline may be restricted. Investors should review the fee schedule for Interval Funds via the prospectus.
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by emailing customer service at [email protected]. Please read the prospectus carefully prior to investing.
¹Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease. See full terms and conditions.
