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tony

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Everything posted by tony

  1. Not that Vanguard requires an overhaul, because it does not. But it will need to respond to a growing threat: imitation. Across the industry, rivals are challenging Vanguard's brand. It is becoming difficult for casual observers to distinguish between Vanguard and its major competitors. Read more: https://www.morningstar.com/articles/912928/can-vanguard-remain-alone.html
  2. tony

    Can Vanguard Remain Alone?

    Vanguard was not opposed to it. They recommended that the DOL should revise, not revoke, the rule. They offered their reasons is a letter to the DOL.
  3. tony

    Can Vanguard Remain Alone?

    Steve , I realize it irritates you when I post articles, it's pretty obvious to me but we need to promote investment literacy and a broader view of what makes saving a successful endeavor . Not everyone who comes here is going to go out and read our favorite books we recommend here. So the articles are useful to many and some folks have messaged me and told me so. We are starting to give the impression here that if you get a low fee fund than you will be a successful investor. And ,if you pick a fund a few basis points higher, its the equivalent of total failure. It 's just more complex than that. You can be in a low fee investment and still underperform someone in an annuity if you are not doing other things right. Being 403bwise is more than just a low fee. And the math alone does not tell the whole story. Just how I feel about it. And I don't write any of this with any hostility just that the feeling is we may be helping people less than we think when we focus only on low fees and not much more.
  4. tony

    Can Vanguard Remain Alone?

    Ed, It confuses me that fees alone seems to be the only thing that matters to you when deciding who or what is best. That is a huge blind spot when you reduce everything down to who has the very very lowest basis points when in truth it's insignificant. You obviously are not considering other important things like corporate culture and corporate mission and breath of low cost choices. Fidelity may have the lowest fund fee on a very few funds but on their part its just a ploy to draw investors in and then cleverly move them into higher fee investments. I don't understand the obsession among some of you that want the absolute lowest fee at all costs when other factors in the funds structure may also affect performance . This reminds me of the housewife who drives miles all over town to save a dime on toilet paper, saves that dime, but then realizes her new cheaper brand has thinner sheets. As mark Twain once quipped. "Some may have the words but they don't have the music"
  5. This is somewhat intense reading. I doubt most will follow it to the very end but it is very interesting. This is the last article you will ever need to read on market timing. It’s a bold claim, but I’m not messing around. So strap in, because the training wheels are off on this one. To start, let’s play a game: Imagine you are dropped somewhere in history between 1920 and 1979 and you have to invest in the U.S. stock market for the next 40 years. You have 2 investment strategies to choose from. https://ofdollarsanddata.com/even-god-couldnt-beat-dollar-cost-averaging/
  6. tony

    Can Vanguard Remain Alone?

    and if that is the case Ed, who do you have to thank for this low fee environment? Think about that. So if it wasn't for Vanguard being alone in the first place, you wouldn't have alternatives now. And while not at the top of the heap in assets under management they are close with only Blackrock edging them out. The other players aren't close. So they must be doing something right.
  7. tony

    Aspire or NEA Direct Invest

    Good luck you are doing a good thing for yourself. Spread the word to your fellow teachers.
  8. tony

    Aspire or NEA Direct Invest

    Over how many years did you get this 36% return and what were you invested in? Just curious.
  9. tony

    Aspire or NEA Direct Invest

    ED I agree I just don't want him to be in shock if he sees the surrender fee applied. I've been a few situations when I encouraged others to transfer and they later reamed me out about not warning them about the surrender charge.
  10. tony

    Aspire or NEA Direct Invest

    Unless I'm wrong looks like you can do the Direct Invest through Security Benefit because its in your plan after all.. If Aspire is available you need to make sure it gets on the list. So Tony the best move is transfer to SBDI. Surrender charges possibly apply. Do you understand what a surrender fee is?
  11. By the way, in my household made up of three folks we eat very well on about $300 a month.
  12. Saving at the grocery store . Not as off topic as you might think. https://mymoneywizard.com/how-i-spend-less-than-35-a-week-on-groceries-my-full-shopping-list-exposed/
  13. tony

    Aspire or NEA Direct Invest

    I take blame, I probably shouldn't have commented past my first two posts.
  14. tony

    Aspire or NEA Direct Invest

    Krow I think we may be giving too much advice/information and confusing TonyZ. He also started a separate thread asking basically the same question. I think maybe his first step might be to just get Aspire on board and then expand from there into working on his 457b plan...In his other thread he started I mentioned why adding Security Benefit might be a bad idea because it sells expensive products outside of the Direct Invest option. You gave similar advice. All this advice we are giving him might be making things difficult for him as a new investor. I may be totally wrong but all this info we all are giving might be overwhelming him. Tony
  15. tony

    NEA Direct Invest 403b - NJ teacher

    No problem. Read through those posts and if it still is not clear let us know. If you are new to all this it can sound complex but the more you follow this discussion board the easier it becomes to understand the ridiculous complexities of the 403b world in education. All of us here are very passionate about helping you and others improve their 403b choices.
  16. tony

    NEA Direct Invest 403b - NJ teacher

    TonyZ I would like to make a suggestion. Go see the person in charge of investments and ask them about addingSecurity Benefit/ NEA invest and Aspire. Unfortunately though adding Security benefit might not necessarily be a great idea because besides offering availability to NEA Direct Invest, they also sell some high fee products that educators might end up signing up for. It would be up to you to tell others to avoid other Security Benefit products besides NEA invest. So maybe Adding Aspire might be a better idea and go self direct into Vanguard Index funds or even fidelity.. I remember we had security benefit on our list and they sold funds with fees as high as 3%.
  17. tony

    NEA Direct Invest 403b - NJ teacher

    Tony Z We have already answered your question in previous posts every which way we can. Have you read them? I mean we would just be repeating ourselves at this point. It must be offered by your school system or you cannot sign up for Security Benefit/NEA DIRECT INVEST in a 403b Best wishes Tony
  18. Currently, almost half of all American families do not have any retirement savings. More than one-third of all private sector workers do not have access to a workplace retirement plan. We face a looming retirement crisis that will impact millions of elderly and soon-to-be elderly Americans, as well as our children and grandchildren who will have to bail out those generations, writes former Sen. Heidi Heitkamp. https://www.cnbc.com/2019/02/10/the-looming-retirement-crisis-in-america.html
  19. Steve mentioned in a post recently that most teachers can't save much these days in 403b's or choose not to. This article spells out the plight teachers are facing across the country. It's very real . However, while I don't mean to appear unsympathetic some of these teachers are making more than I ever did at their age. I get it that perhaps this is a different time but I wonder how much of this stems from millennials not having learned to live within their means and a general lack of financial finesse and literacy. It's not how much you make necessarily it's how much you keep and that may mean making more of a sacrifice than many today (I have noticed)are willing to make.. I had friend teachers who complained daily about not making enough money and who were unable to save a penny but were spending up to 15$- $20.00 dollars a day on breakfast and lunch treats and coffee drinks. On top of that they talked about all the dinners out they were eating. Those are the kind of things I gave up plus I worked two jobs for a while.The fact millennials are returning to night class to learn basic skills indicates to me that our school system is failing our students in essential learning like personal finance. So while teachers are underpaid certainly, personal habits matter. Most folks in 9-5 non state jobs are envious of the pensions and days off teachers have. The grass sometimes does seem greener on the other side. https://www.cnn.com/2019/02/10/us/denver-teacher-strike-multiple-jobs/index.html
  20. Thanks Ed I knew I had read it. And it looks like it was not fake news after all. Perhaps just a poor choice of words which has now been corrected.
  21. Gosh it's my day for corrections. I also overestimated the starting teacher salary for my old school system. It's actually $44,500.
  22. LOL Could not find any comments about the origin of security for/unwillingness to work wording of the green deal instead I found this on snopes.com Congresswoman Alexandria Ocasio-Cortez has experienced two "sheriff evictions," two closed checking accounts, and a credit score of 430. Snopes says it's false. Goes to show how much fake news is floating around out there.
  23. Just looked over the link. Yea I must have read someone's interpretation of the Green Deal because if that's the real document it doesn't sound as bad as it was made out to be from what I read. I wasn't interested in reading the whole document because i assumed it would be treacherously long as is often the case with government documents. This wasn't as bad. I still think its a good vision but highly unrealistic considering human nature and politics.
  24. Thanks Ed Its sounds too utopian, idealistic, and unrealistic if not impossible to achieve. I realize it's not law . I better read the facts before I comment further. Or maybe we better just stick to 403b issues:)
  25. Thanks Whyme Gosh I hate to spread falsehoods. I wonder if it was in the original draft and subsequently removed or fake news? Or Politics? What are we becoming????I didn't actually read the whole thing I read excerpts from it and it was disturbing. Naive Idealism to use your own words is a good way to define it.If it was represented falsely than I apologize and will review your document link. I did not get it from Fox news however but it was an online source on Apple news but I can't remember where exactly . I'm going to go to snopes.com to get the truth. I have no interest in reading the whole thing actually. Fake news is everywhere these days and I may have fallen for it. I will check it out. Thanks again.
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