Free Mutual Funds & Credit Freezes Are Now Here
Here are two cool recent personal finance developments that make my heart leap!
1) Credit Freeze Now Free
Starting September 21, we can now freeze our credit for free! We can request a free credit freeze through Equifax, Experian and Transunion by going to their respective websites.
Previously, these credit bureaus charged $5 or more to freeze and unfreeze people’s credits.
We can also request to freeze our child’s credit for free because of this new law.
All these can help prevent thieves from stealing our identity. In 2017, close to 15 million Americans were victimized by identity theft.
Here are other ways to protect yourselves from fraudsters.
2) Free Mutual Funds Have Arrived
Do you know that all mutual funds you own in your 401(k) and IRA charge fees? They’re not itemized, so you don’t see them anywhere in your statement. But they exist. High fees are like termites; we can’t see them but they’re eating away our retirement future.
As more consumers and investors have become more aware of these fees, there has been a lot of pressure from mutual fund companies to reduce these fees (or expense ratios).
Earlier this month, Fidelity introduced two mutual funds with zero fees. As in zilch.
Other brokerage firms like Vanguard, TD Ameritrade, and Schwab will feel the pressure to reduce their fees further.
This is good for all of us!
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