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Whether you're managing your career, running the kids to events, maintaining the home, or all of these at once, life is busy. So it's easy to understand why sending a check to fund your IRAs or education savings account throughout the year can fall through the cracks. At the same time, you know that saving for important goals such as retirement or a child's education is important.
Why not make life easier, by establishing a periodic investment plan (PIP) for your mutual fund accounts? At no additional cost, a PIP allows you to make regular deposits into your account(s) through electronic funds transfer from your bank account. Your purchase amount will be deducted from your bank account on the day(s) and with the frequency you specify and a purchase will be made into your mutual fund account on the same business day.
Make paying yourself automatic with a disciplined schedule of investing. Regular investments go a long way when compounding has a chance to work for you over a longer period of time.
Use a PIP to dollar-cost average an excellent way to help lessen the effects of a volatile market environment. When you invest a fixed amount regularly, over a longer period of time, you may purchase more shares when prices are low and fewer shares when prices are high.
Setting up your PIP is quick and easy. And if you choose to make contributions to an IRA or education savings account, you can set up your plan so that the maximum allowable contribution is made automatically.State Farm agent.
Securities distributed by State Farm VP Management Corp.
Securities, insurance and annuity products are not FDIC insured, are not bank guaranteed and are subject to investment risk, including possible loss of principal.
Periodic Investment Plans and dollar cost averaging does not assure a profit or protect against a loss.
Neither State Farm® nor its agents provide tax or legal advice.