AlmostDone
Recycles dryer sheets
- Joined
- Oct 4, 2006
- Messages
- 92
I really appreciate all that I have learned here and the help you all have given us already. We just have a few more ML funds to get out of and I've been waiting until the back-end fees are gone. Can someone tell me if I am correct in the following:
ML advisor put $85,000 in ML Global Allocation fund on 12/18/03 with a 6 year (6%) back-end load. ER is 1.86%. We just passed year 3, so the load should now be 3%. At 1.86% ER for 3 years on $85,000, we will be paying $4,743. This year the fund returned 13.7%.
VG International Stock Index has an ER of .31%. If we move it now, the ER fee for the next 3 years would be $790. This year the fund returned 22.9%.
Difference in ER expense for 3 years would be $3953 (we would save). Fee to come out of ML now would be 3% of 85,000 = 2550. Net savings = $1403.
Is this correct? The VG fund has beaten the ML fund every year for the past 4.
ML advisor put $85,000 in ML Global Allocation fund on 12/18/03 with a 6 year (6%) back-end load. ER is 1.86%. We just passed year 3, so the load should now be 3%. At 1.86% ER for 3 years on $85,000, we will be paying $4,743. This year the fund returned 13.7%.
VG International Stock Index has an ER of .31%. If we move it now, the ER fee for the next 3 years would be $790. This year the fund returned 22.9%.
Difference in ER expense for 3 years would be $3953 (we would save). Fee to come out of ML now would be 3% of 85,000 = 2550. Net savings = $1403.
Is this correct? The VG fund has beaten the ML fund every year for the past 4.