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  1. This Index Card Says It ALL

    Savers Celebrate As Stocks Go On Sale!
  2. Good summary of various financial professionals from Daily Worth: Excerpt: CFP. A Certified Financial Planner has earned professional certification from the U.S.-based Certified Financial Planner Board of Standards or one of its international counterparts. To use the designation, a financial planner must meet education, examination, experience and ethics requirements, as well as pay an ongoing certification fee. You might consider hiring a professional with the CFP designation if you are looking for someone to manage your investments or assist you with financial planning. (In order to sell securities, the professional must have a FINRA license.) CRPC. A Chartered Retirement Planning Counselor has completed a study course and examination from the College for Financial Planning and has in-depth knowledge of retirement planning. These professionals are trained in various sources of retirement income, retirement cash flow, asset management, estate planning and other related topics. RIA. A Registered Investment Advisor is an investment advisor who is registered with the Securities and Exchange Commission or a state’s securities agency. RIAs are held to a fiduciary standard, meaning “they must put the needs of their clients above their own,” Gabrielsen says. “They must put their clients in what they believe to be the best and lowest cost investments, regardless of how it impacts the advisor.” Other advisors, such as those on the broker-dealer or insurance sides of the business, are held to a suitability standard, which means they are allowed to sell a client a product that benefits the advisor as long as it is also suitable for the client’s needs. Professionals with the CFP, CRPC or other designations will be held to a fiduciary standard if they work at a RIA firm. click here to read entire story. --- Dan Otter
  3. 2017 Return, costs and asset allocation

    Steve, This is such great information. - Dan
  4. Hey all, It's finally happening: We are launching an Advisory Directory made up of CFPs knowledgeable in the 403(b) and 457(b). If you know any advisors who might be interested please share: http://403bwise.com/advice/advisor_request It will take time to build a national network but we are confident we can help provide a valuable resources for those looking for quality advice. - Dan
  5. Vanguard 403b Services A Mess

    Hey Tony, I am thanking you for both sharing this and helping this person. I am also pointing out that I have had trouble with them as well. It may take the Newport folks some time to get up to speed. But again, this is good info for the 403(b) community. - Dan
  6. TIAA Traditional

    My experience with TIAA Traditional: http://403bwise.com/wisecracks/entry/309
  7. Vanguard 403b Services A Mess

    Tony, thanks for helping this person, and thank you for sharing your experience here. I love Vanguard. I got to meet John Bogle; he's written me several kind notes; and at one time it looked like Vanguard was going to sponsor 403bwise. Vanguard has saved me tens and maybe ultimately hundreds of thousands of dollars. But I too had some issues with them as I documented in this Wise story. To their credit the acknowledged this via Twitter (posted below). Let's hope my issue and the one Tony documented is isolated. Vanguard‏Verified account @Vanguard_Group 9 Oct 2017 Replying to @teachretirerich @meridianwealth and 8 others We're sorry for any inconvenience, Dan. We appreciate you taking the time to give this feedback & have shared it with the appropriate team.
  8. What are my options before I leave job?

    You mention in the title about leaving your job. Is that something you plan to do soon (within next few years)? If so, you may want to wait until you move on. At that point you can roll the AXA funds into a Rollover IRA with Vanguard, or Fidelity, etc. - Dan Job Change and the 403(b)
  9. Aspire?

    Hi Radase, We did a podcast on Aspire: http://teachandretirerich.libsyn.com/episode-11-mark-luckinbill-of-aspire-financial-services-0 NEA has notoriously taken advantage of teachers over the years http://403bwise.com/wisecracks/entry/30. In fact they were sued for this: http://www.nytimes.com/2007/07/17/business/17suit.html They do now have a lower cost option but until they cease their high fee arrangement via Security Benefit I would avoid them if possible. I think you are better off looking at Fidelity or Vanguard via Aspire. TIAA has been in the news for some very poor business practices. I have written about this http://403bwise.com/wisecracks/entry/315 and we just released a podcast about it http://teachandretirerich.libsyn.com/episode-54-tiaa-troubles. I happily use their fixed annuity account as you will read. Good to see you have some improved choices. - Dan
  10. TIAA, FIdelity and NEA (Security Benefit)

    I know all about TIAA's issues. As I said, because of SB's past and current behavior (other products) I am dubious. Have they ceased offering their other products/practices? Why reward that behavior when you have Fidelity for low cost mutual funds and TIAA for it's fixed annuity? I didn't say you have to use TIAA. But I happily do for the fixed portion of my portfolio: http://403bwise.com/wisecracks/entry/309
  11. TIAA, FIdelity and NEA (Security Benefit)

    You have two very strong choices (Fidelity and TIAA). As far as Security Benefit/NEA goes, I would be dubious: http://403bwise.com/wisecracks/entry/30 and http://www.nytimes.com/2007/07/17/business/17suit.html
  12. Tiaa Ny Times Article

    I really wish TIAA would come out with a detailed response.
  13. Hey All, Scott and I just had perhaps our most interesting podcast ever. Enjoy... Teach and Retire Rich podcast #53: Custodian Cleans Up His 403(b): From annuities to a high six figure balance.
  14. Forum Upgrade

    Thank you for kind words. Love the chart, Steve. So hopeful for people to be able to see this. - Dan
  15. Tiaa Ny Times Article

    EdLaFave, The internet is full of over the top hyperbole. We really don't want that here. Folks might begin to think you have ulterior motives. - Dan
  16. Tiaa Ny Times Article

    Latest Wisecracks: TIAA Thoughts
  17. Tiaa Ny Times Article

    Tony et al, Sorry for the access issues. As I mentioned, we have seen a heavy spike in traffic (most likely because of the TIAA story). Thanks for your patience! - Dan
  18. Tiaa Ny Times Article

    Hey Tony, All the activity has caused some issues with the board's availability. We are actually researching some fixes/alternatives. We will keep everyone in the loop if we make any changes. - Dan
  19. Tiaa Ny Times Article

    Hey Ed, I think "disgusting" is a bit harsh. I too am disappointed they are not loudly championing the fiduciary rule. These companies are not perfect and there are issues and challenges behind the scenes that we may not always be privy to. I am with Steve in proudly stating that I will keep my money with TIAA, and Vanguard (and Fidelity) for the rest of my days baring some reason to change. Steve also rightly points out TIAA's multiple efforts to change truly ridiculous California legislation that directly hurts teachers. I documented my issues moving money from Vanguard and they actually tweeted an apology to me. Let's not make the perfect the enemy of the damn good. :) - Dan
  20. Our Recent Experience With Axa

    This conversation makes me so proud of this board. GRW, your tenacity is to be admired. I think you have nothing to lose by pursuing action. It's doubtful anything concrete will come out of it but as Tony mentioned: too many teachers are too timid about this stuff. I know you are not a teacher but instead are helping your wife. But your efforts are helping all teachers. I would pursue the two tracks you mention (press AXA, seek to add a better choice). I have posted some resources below: How a 7th grade teacher got a better 403(b) choice K-12 Story: I have an AXA 403(b). Help! (share with employer) NY Times series on 403(b) woes California dreaming of better 403(b) plans (again) touches on issues Steve raised
  21. Hey All, As Steve points out we do want to avoid political discussion that strays into opinion. If we are stating factually what one political party or the other is doing or advocating I think that is fine. We just have make sure we avoid emotion and accusation. Ed, feel free to edit your post(s) that you think may be too political. Thanks again for everyone's participation here. - Dan p.s. I am with Steve in advocating for voting. I think we can also vote with our dollars. That is who we choose to do business with.
  22. Tiaa Ny Times Article

    If true this is sad and frustrating.
  23. I Moved Money Out of Vanguard by Dan Otter
  24. I Moved Money Out Of Vanguard

    Tony, It's true. I did feel guilty. It was like breaking up with a long time partner. Yet the breakup isn't total. Basically my fixed assets are with TIAA and my equities are with Vanguard and Fidelity. For my wife, it's also equities in Vanguard and Fidelity. It seems very similar to what Steve is doing. To Vanguard's credit they did tweet the following below. As you point out, I probably slipped through the cracks because of their tremendous growth. Vanguard‏Verified account @Vanguard_Group Oct 9More Replying to @teachretirerich @meridianwealth and 8 others We're sorry for any inconvenience, Dan. We appreciate you taking the time to give this feedback & have shared it with the appropriate team.
  25. A Primer On Church Plans