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tony

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Everything posted by tony

  1. tony

    Frequent trading policies; Best Fund Family?

    Yea, odds are not good. I do not understand why you would want to try and grow a retirement account by buying and selling often. Thats not a plan for success . If you want to gamble, open a 'play money' account and gamble away but not in a retirement account. Personally I don't buy into a play money mentality either but I guess it might help keep you from blowing your retirement fund.
  2. https://www.bloombergquint.com/onweb/2018/06/20/americans-still-aren-t-saving-despite-the-booming-economy This article is also interesting and somewhat related https://www.thetimes.co.uk/article/why-insecure-millennials-are-set-for-an-unhealthy-middle-age-825mjshs5
  3. Steve, some of us here have the experience now to know how to handle a major downturn (and you have life experiences to know that money is not everything)but the younger folks may not yet have experienced a crash. Its important they are psychologically prepared so they won't make rash decisions or are talked into making unnecessary changes by commission driven sharks.Most probably they need to do nothing as time is most likely on their side. When it happened to me the first time I was quite caught by surprise and realized that i should not have had 50% of my portfolio in Janus funds. It was a learning experience. I am 50/50 and I feel comfortable with that going forward. Incidentally Vanguard Prime money market is now paying 2%.
  4. Bear markets are always painful. Even if they bring us all cheaper stock prices, it’s never fun to see your savings drop in value. The enormous crash we saw during the Great Financial Crisis could possibly be the worst one we see in a generation. But how that bear market felt to you personally has a lot to do with where you were in your investing lifecycle. Even though stocks were down well over 50% from late-2007 through early-2009, your starting balance and saving habits throughout that period have a lot to do with how things looked and felt from a portfolio perspective. http://awealthofcommonsense.com/2018/06/why-the-next-bear-market-may-feel-more-painful/
  5. tony

    Total return vs. daily price of mutual funds

    This site might help. But not sure its exactly what you are looking for. It will let you do a 5 day ,one month ,three month and beyond comparisons of up to 24 multiple funds on a graph format. you can also compare a fund against its index or any other index. https://www.nasdaq.com/quotes/mutual-fund-comparison-charts.aspx
  6. When I taught Personal Finance I always introduced my students to the concept of occasion response. A marketing ploy where you create a holiday , you promote it heavily and people will then spend tons of money. I mentioned all the money companies can make by getting you to part with your money by creating guilt and a sense of obligation to overspend.. It works .Valentine's day is a good example as is Mother's day and Father's day. If you don't spend big money during these holidays you are nothing but an insensitive heel !! So follow the herd and please overspend . Ha Ha don't fall for it. Oh and all you fathers out there, Happy Father's Day!! https://www.thepennyhoarder.com/life/spend-less-fathers-day-gifts/?aff_id=2&aff_sub2=homepage
  7. It’s a great tragedy that despite its obvious importance to everyone, our educational system almost totally ignores the field of finance and investments. http://www.etf.com/sections/index-investor-corner/swedroe-financial-illiteracys-high-cost?nopaging=1
  8. Well, I ran into this article by chance. Granted its six years old, still it was a surprise to see teachers on this list. We've got teachers complaining about low wages and striking yet, as a profession they made this list. I guess its proof if your committed and savvy and hardworking , it can be done on any salary. The chart shows smart investing makes a difference . Don't have a clue how they reached their conclusions but if true its encouraging. https://www.aol.com/2012/03/26/surprising-job-that-gets-many-americans-into-the-millionaire-clu/
  9. tony

    Careers With The Most Millionaires

    Thanks Krow for all that info. I think you and Steve are right. It must include higher earning college and university professors , higher education administrators and dual income k-14 earners in higher paying states. But making more money in an expensive cost- of- living state must certainly neutralize the advantage of a higher income somewhat.Still ,I'm in that club and I never made over $60,000 a year and it took me 30 years to get to that salary for heavens sakes!. Granted my wife worked too but its still possible to make it happen for less than some folks might think. Here ,where I live , very few k-12 teachers end up being millionaires but I think its their mindset that is partly responsible. They don't really strive for it or have already decided before they even start that its a pipe dream. And ,of course ,part of the problem is lack of financial knowledge and the horrendous insurance annuities that most buy into.
  10. tony

    Careers With The Most Millionaires

    Good points Steve. The teacher umbrella might include college professors and administrators. I wonder if they included pensions in the equation. If they did then it makes it more logical to me. Still finding teachers ahead of doctors can't possibly be accurate.
  11. tony

    Why Teachers are Walking Out?

    I read somewhere and it was a scholarly article that if 50% of the administrative bureaucracy in education could be eliminated (and it probably could be eliminated), every teacher in the USA would get an instant 20,000 dollar raise. I believe it. I also wonder what the NEA is doing with all that money it collects from teachers. Note: The article was not talking about principals, and other essential administrative people. It was talking about the positions not even remotely needed to operate a school system.
  12. tony

    Why Teachers are Walking Out?

    ED The somewhat elitist educational community is partly to blame . Even in our community, taxpaying citizens see the school district as arrogant and big spenders and disrespectful to the folks who end up paying the taxes. Our school system tried to put forth a proposal for aTaj Mahal like new high school at a cost of 100 million dollars. It was stopped by local taxpayers and rightfully so. A lesser cost school will do just fine. I don't blame the teachers, but the powers that be in education don't seem to care about the impact their spending has on ordinary taxpayers. This is the part of education I don't respect. The elitist ivory tower administrators who like to spend too much.
  13. I am starting to worry about the next downturn when it comes and it will come. Some of you younger folks have seen nothing but good times in the last ten years. Things can change. Be prepared. Many pension funds for public workers already owe far more in retirement benefits than they have in the bank, and the problem will only grow worse if the economy slows down, according to a report released last week. The study from The Pew Charitable Trusts found that the New Jersey and Kentucky public pension funds are in such perilous shape that they risk running dry. https://www.cbsnews.com/news/study-some-public-pensions-funds-could-run-dry-in-downturn/
  14. SURPRISE! The traditional teacher pension plan is already gone in many states. In most cases these teachers are offered what's called a hybrid plan which combines elements of a traditional pension and a 403(b)-style account. Generally, they shift more of the investment risk to the workers. That makes it even more important for teachers to understand the underlying investments in their plans. Ed, in our state you can't even count on the union to do even the basic things you mention. The union state and local is pretty worthless here as are the local reps. They walk around collecting dues and then you never see them again. All you get from them is a monthly NEA magazine. I never joined and frankly I think teachers could do better without this huge organization. Just look what the NEA has done for teachers in the 403b arena. I don't see things getting better for teachers.Ultimately with the huge turnover now occurring most kids today won't even remember who their teachers were once they grow up.
  15. Jebjebitz I totally understand what you are saying.For your sake and others I hope it works out for you. Start writing your governor and representatives now and express your concern. The union should be looking into this. Share these articles with your Union rep. Make sure you elect the right people in your next elections. In the meantime keeping saving!! As a side note, being Italian I have always loved New Jersey, the boardwalks and the eateries and delis. I don't envy the taxes you guys pay up there however. Keep us up to date on your efforts and findings As Kennedy once said "The time to patch the roof is when its sunny" Yup start addressing this issue NOW!!
  16. Imua, Thank-You for adding your article. Scary .Here is an article that might give you some perspective on Virginia's past problem and how it was handled. .http://www.dailypress.com/news/watchdog/dp-virginia-retirement-system-faces-financial-crisis-20110426-story.html
  17. Luckily, Virginia has a strong retirement system at the moment ( I think).However back during the last major downturn, the system developed a tiered benefit system. I was in tier one based on my years of service so nothing changed for me. Others however with less years of service or newcomers ended up in tier two which was adjusted and not as beneficial as tier one. They also had to pay more into the system. I believe it was 6% of their income. Seems like teachers today have it tougher than ever in all aspects of their employment. So worse case scenario in my opinion is you might see your benefits reduced and payments into it go up by participants. I seriously doubt your pension plan would completely fail. If the situation was that bad I am sure money would be found to prop it up. Problem with New Jersey is your taxes are already very high . Ultimately it could fall on taxpayers or major reduction of other services. I feel teachers are getting the raw deal in so many ways. Lets hope reducing their pensions is not yet another blow against the profession. Here in Virginia there has been talk for years that teachers shouldn't have benefits other workers no longer have. Luckily we now have a balanced General Assembly. For years it was heavily Republican. I still say save all you can just in case something catastrophic does happen. Also make sure you have some risk protection in your savings like bonds and cash. Don't like predicting what lies ahead but this expansion has been going on for a long time and eventually things might turn. I realize some of you have never experienced employment while in a major downturn as of yet. Its no fun.
  18. tony

    Why Teachers are Walking Out?

    This site won't let me use the word S_E _X or S_ H_0-T. It always stops me after the letter S. is that normal?
  19. tony

    Why Teachers are Walking Out?

    And safety is a big issue now on top of everything else. I read some state instituted an instant 100,000 dollar payout if a teacher gets rifled or gunned while at work.
  20. tony

    Why Teachers are Walking Out?

    Nothing new here, I've been there and felt all of that. My wife and I stare at each other at times and wonder how we managed being in the teaching profession for 30 years!! I don't think bringing gender into this article was necessary as I see these things happening to all teachers regardless of their gender . Maybe its an issue because there are more female teachers than male teachers? What I don't like and what I am seeing more of is people going directly into administration or with little real time spent in the classroom to get more money and to get away from the stresses of being a teacher. I don't exactly blame them the way things are but a whole new tier of administative positions are being created and we are ending up with too much of the wrong thing. . The money should be going to the teachers and not to the ever growing educational bureaucracy.
  21. tony

    Frequent trading policies; Best Fund Family?

    Dear 403BIdiot So you want to time the market? This site does not believe that timing the market is very smart. You say it seems to work but will it always work? Probably not. You are going to get caught with your pants down sooner or later. If you want to buy ETF's and trade them often your 403b plan has to provide access to them and then you will have to consider if they will allow frequent trading. Chances are you will have to self direct into an ETF fund within a fund family that will allow what you want to do. Still, I think you taking a bad approach . Specifically, what is the point of this in a 403b retirement account??
  22. tony

    403b Questions/Options

    Dan My index funds did very well when I was with Aspire.I saw growth equivalent to regular directly owned vanguard index funds. The last 7-8 years before my retirement I owned Vanguard funds through Aspire. I also tapped into our state 457 plan that was too good to pass up. They had Blackrock index funds that rivaled Vanguard in cost and in some cases even cheaper!. The 457B plan had a .19 administrative fee but rock bottom fees on expense ratios. Personally, you are in a good place with Aspire and I don't think I would move. Your fees are very low. You should be content. You are correct about Security benefit. They sell many high fee products. I would focus on making sure you have a diversified portfolio . If you can, go help others move away from the bad guys who are ripping them off and towards Aspire. Also do you own any other fund besides Total Stock Market? You might want to add an allocation to total international and total bonds through Vanguard.
  23. tony

    403b Questions/Options

    Krow I owned Vanguard through Aspire before I retired. They did NOT convert the shares to Admiral. I was stuck in investor shares .At the time Admiral shares were not even available for me. Don't know if things have changed or not.
  24. tony

    403b Questions/Options

    Dan Direct Invest funds will have expense ratios. Every fund charges you something. The key is to go low as is possible and then focus on a good asset allocation. Study the links Dan Otter just sent.
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