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StateFarm offers investment products such as Mutual Funds, Retirement and IRA accounts and often has sign-up promotions that you can find here.
When you make the decision to start investing, you’re going to want to make sure that you choose the best investment accounts for your financial situation and the goals that you want to meet. Commonly seen as an insurance provider, State Farm agents are also capable of telling you about their investment accounts and ensuring that you invest your money wisely.
*Also see our Best Brokerage Promotions Page for more offers.
State Farm Promotions: $500 In Free Shares
*This offer has expired
You can get up to $500 in shares with an Individual Retirement Account from State Farm.
- $500 in shares offer set to expire on 06/30/2016
- Roll over, transfer or add to a new/existing Traditional or Roth IRA and you’ll receive additional bonus shares.
- Bonus size depends on contribution amount:
- $200 bonus for contribution of $25,000 to $49,999
- $300 bonus for contribution of $50,000 to $99,999
- $500 bonus for contribution of $100,000 and more
- For the bonus, State Farm will purchase Mutual Fund shares at NAV.
- You must make your contributions within 90 days from the date of the first qualifying rollover or transfer purchase.
- Your additional bonus shares are typically bought and placed in your Mutual Fund IRA account within two weeks.
- If net deposits from external sources less assets withdrawn or transferred out of the Account equal to at least the minimum required amounts (minus trading losses) do not remain in the account for at least one year after the date of the first, then State Farm may, in its sole discretion, charge the amount of the bonus shares back to the Registered Account.
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State Farm IRAs
Open a State Farm IRA and you can grow your money tax deferred, which lets it grow faster than a taxable account. Even if you already participate in a retirement program at work, you can still contribute to a State Farm IRA.
Choose between a Traditional IRA or Roth IRA (read about the differences here).
- Your contributions here may be deductible on your federal income tax return.
- There aren’t any income limitations for making contributions. Keep in mind, deductibility for tax purposes IS affected by income.
- Your earnings are exempt from federal income tax until withdrawn.
- When you reach the age of 70.5, you must start taking withdrawals.
- Your contributions here are not tax-deductible, but they can be withdrawn at any time tax-free.
- Earnings are tax-free for qualified distributions.
- There are no mandatory withdrawals at any age.
- Your contributions are subject to income limitations.
State Farm Mutual Funds
State Farm’s offerings are better for people that want to build wealth and for people that are interested in a short-term investments. There are several different types of mutual funds that they have available including: LifePath Funds, Stock Funds, Bond and Money Market Funds, and Index Funds.
If you’re the type of person that isn’t particularly interested in managing your investment portfolio on a regular basis, LifePath Funds might be the mutual fund to take into consideration. These portfolios are designed to grow with you over time and take your personal financial situation into account. This gives users the ability to avoid maintaining and spend their time on other activities while their wealth grows.
For small and large companies that are interested in long-term growth, stock funds can be incredibly useful. The main purpose of this service is to give business owners the ability to have stocks that match the growth potential of your business and risk.
Index funds are designed to work with well-known stock indexes. These are typically recommended for people that have a general idea of what investing is, how to manage portfolios, and have an interest in the stock market. Two examples of well-known stock indexes that you’ll have access to with index funds include: Russell 2000 and S&P 500. This type of mutual fund is recommended for individuals that are interested in long-term growth.
Bond and Money Market Funds
As the last type of mutual funds that you can get from State Farm, bond funds and monkey market funds are known to provide a steady stream of return. With money market you’ll be investing in high-liquid markets that have shown positive historical trends. This is one of the least risky mutual fund options, especially when compared to stock funds.
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