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jebjebitz

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  1. jebjebitz

    questions to ask my plan manager

    Hi Matt, i would call and stay on top of them. You might have to call more than once. I think your main focus should be getting that account active and getting access to the online platform. I signed up using the Docusign online application and waited a long time before I had an established DirectInvest account. In contrast, I helped someone at work set up an account and they were good to go in just one week. Good luck. Let us know how it goes
  2. jebjebitz

    Aspire or NEA Direct Invest

    This sounds like total BS! Not sure why the TPA would say this.
  3. jebjebitz

    Aspire or NEA Direct Invest

    I’ve had accounts with both Lincoln’s PDP and Security Benefit’s DirectInvest. Security Benefit’s online platform is superior. Lincoln’s, at least when I used it two years ago, was very limited. Security Benefit waves the $35 annual fee for accounts over $50,000. Lincoln does not waive the fee. Lincolns fund selection is superior. They have a huge assortment of Vanguard Funds including Target Date Funds. If anyone would like a list of the fund selection I can supply a copy.
  4. jebjebitz

    Aspire or NEA Direct Invest

    If your district has Lincoln Investment, as a NJ teacher, you will have access to the PDP. If it is Lincoln Investment, call this number: 215-886-7695. They will send you the paperwork to start the account
  5. jebjebitz

    Question about 403b transfer/rollover

    Not looking to debate interested in the data though
  6. jebjebitz

    2018 was suboptimal.

    I like this advice. There’s a year to date return number of -7.16% at the top of the page when I log into Security Benefit but, I don’t think that’s what you guys are talking about. I rebalanced a bunch of times and messed around with asset allocation and what I thought was tilting to Small Cap and REITS. In the end I learned that this just confused me and made me nervous about my investments. My goal is to keep it simple and rebalance a few times a year.
  7. jebjebitz

    2018 was suboptimal.

    I don’t know how to figure out my return for the year. Any suggestions? My portfolio balance is 80/20 Total Stock:VTSAX - 50 Total International VTIAX - 30 Total Bond VBILX - 20
  8. jebjebitz

    Question about 403b transfer/rollover

    Good point. I don’t know what his investments are, how long he’s had them with AXA or how much. I personally paid a surrender fee to leave AXA even though I had an account with them for ten years. Their surrender charges never seem to go away. Although, looking back, I’m glad I got it all out at once. I think it ended up being a little over a grand in surrender fees but, I was free from AXA, my money went to low cost index funds and I only had to go through the frustrating transfer process once. It’s what I tell myself to feel better about giving up the grand anyway.
  9. jebjebitz

    Question about 403b transfer/rollover

    Thanks Tony. I think this was the main question I was aiming for. Specifically, can he have two 403b accounts, Roth and Traditional, at the same time. You definitely answered this. His next step would be to create a Tradional 403b with DirectInvest and then transfer his AXA funds to this to avoid getting hit with taxes. I recently went through the transfer process and agree that it is slow moving and frustrating. Luckily, he will be contributing to the Roth while that process takes place.
  10. A colleague of mine recently opened a Roth 403b using DirectInvest through Security Benefit. The account is open and he made appropriate changes to have payroll deductions go to this new account. His original 403b is with AXA and he has funds there ina Traditional account. It is assumed that he can’t roll that into the new Roth without being taxed. The value is somewhere around 50,000 and he would like to avoid getting hit with taxes on this. Question: What are his options for getting that money out of AXA and into a self directed low cost option? Are you allowed to open a Roth and Traditional at Security Benefit at the same time? I looked at a 457 option but it looks like you are not allowed to transfer from 403b to 457 while still employed with same employer.
  11. jebjebitz

    Perspective

    Excellent review here. In fact, if you don’t have the time to devote to this short book, this review sums it up nicely. However, if you skip the book you’d miss out on Clements writing style which I find very appealing. There’s a lot of great information and Clements provides it in a way that rarely goes over my head. In fact, somewhere in the introduction he mentions that he wrote it with his children in mind who were entering the workforce.
  12. jebjebitz

    Perspective

    I’m halfway through “The Little Book of Main Street Money” and I highly recommend it. I wish I had read it when I started teaching. I’ve also subscribed to the Humble Dollar blog. Thanks Tony
  13. jebjebitz

    Are Millennial Investors Smarter than Baby Boomers?

    I considered this while talking to these teachers. I didn’t help choose their funds. I just talked about how they could use sites like Vanguard to help them figure out the level of risk they’re comfortable with and possible asset allocations to match. However, to your point, if a 2008 happens tomorrow, and they did little to educate themselves further than filling out the questionnaire on Vanguard’s website, there’s a good chance they’ll second guess the move into a self directed account. I’m new to this myself but I’ve done a lot of reading lately ( just finished “A Random Walk Down Wall Street” which was excellent). I’m learning that the psychological part of investing is just as important as asset allocation. For some people, believing that a professional is watching out for your investment might be what they need to stay the course and sleep well at night.
  14. jebjebitz

    Are Millennial Investors Smarter than Baby Boomers?

    When I start saying something like this I notice eyes quickly glaze over. The mention of index funds and percentages is enough for people to decide. “Ok, this is over my head. It’s worth the 1% to put this in the hands of a “professional” This is my thought exactly. I think people will help themselves when they’re ready. I sent an email out about a year ago and I’m starting to get a few emails now. I’ve helped three people set up self direct accounts. I’ve had quite a few people say they wanted to talk to me about it when they get more time but then they never mention it again.
  15. Moe, In my own experience, it has been easy to make teachers aware of the high fees they’re being charged by insurance companies and other vendors but, they have had a tendency to shy away once they realize the low cost option involves investing on their own. I’m referring to self direct options here. This is assuming that a company like Vanguard or Fidelity is not available in the 403b vendor choices. How could you go about helping teachers once they’re ready to leave the high priced insurance company?
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