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FnLuck34

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  1. Which 403(B) Is Best?

    Thank you for this information. I am reading over your Investing 101 page. I definitely need all the help I can get when it comes to investing and understanding investing. I'm officially with SB now and my HR did send me word that they have a slot for SB and as soon as I send them their paperwork with my deduction information they can start the deductions :D Yay! So I will start contributing to this new investment this month. I will ask about the 401k options that my husband has. When I was looking through his packet for benefits, I remember it saying that Wells Fargo is the provider for the retirement options. This experience has been an eye opener and has forced me to put in a lot of work into finding out what it takes to gain control over where my dollars are going toward my retirement. I understand there are risks no matter what. What triggered this is the fact that I didn't know I had options. Knowing that these options were out here all along...wow. This is good information to learn about because I've had younger teachers asking me if ValuTeach/LSW was worth the investment and having limited knowledge on this I never felt like I could give a complete answer of 'yes'.....I really didn't know. I'm trying to better understand diversification. These are couple of fund options that I'm considering through SB. Some of the other options have a higher expense ratio. What's the best way to determine what's too high? Vanguard 500 Index Prospectus Profile Page (PDF) Vanguard Growth Index Prospectus Profile Page (PDF) Vanguard Intermediate Term Bond Index Prospectus Profile Page (PDF) Vanguard Mid Cap Index Prospectus Profile Page (PDF) Vanguard REIT Index Prospectus Profile Page (PDF) Vanguard Small Cap Index Prospectus Profile Page (PDF) Vanguard Total International Stock Index Prospectus Profile Page (PDF) Vanguard Total Stock Market Index Invesco Mid Cap Growth Prospectus Profile Page(PDF) Invesco Small Gap Growth Prospectus Profile Page (PDF) Janus Growth and Income Prospectus Profile Page (PDF) Perkins Mid Cap Value T. Rowe Price Retirement 2040 Prospectus Profile Page (PDF) T. Rowe Price Retirement 2050 Prospectus Profile Page (PDF) T. Rowe Price Retirement 2060 Prospectus Profile Page (PDF) T. Rowe Price Retirement Income
  2. Which 403(B) Is Best?

    Ok, so here's the update: I have submitted by application to SB to start up a Direct Invest 403b. I have sent emails to my HR to let them know I want to deduct money from my paycheck to this vendor. I'll inform you later of what all they have to say. I enjoy the accessibility I have to seeing what I'm investing in and my options. SB provides a spread of various options and I can see the performance and profile of those options I choose to invest with....so I'm glad I was told about this. Thanks to all of you who helped with guiding me to this site. Also, my husband has set up his 401k with his company and is now contributing to it...his was way easier to set up than what I have to go through, lol. Go figure! My other question now is.....should I also invest with my state's Plan 457 through rsa-1? I'm wondering if I should just pool all of my money into SB and keep increasing what I contribute to that one retirement plan OR should I have another plan, like the 457, to see how it performances compared to the SB retirement? I don't know if I should put all of my eggs into one basket or spread my eggs out to other places. Is having more than one account better or worse or doesn't matter? Thanks for your help! :)
  3. Which 403(B) Is Best?

    I found this on the Alabama Education Association site. I know I have the information for SB through NEA, but would this also be a good company to go with for retirement? I have the 6k in ValuTeach that I'm trying to rollover into another 403b plan. Thanks for your help! Financial Benefits Financial Planning TIAA-CREF Investment Program – Collateral Financial Advisors, LLC, a registered investment adviser (RIA), offers you independent, unbiased investment advice designed to help you realize your retirement savings goals. Their partnership with TIAA-CREF, a leader in K-14 retirement programs, gives you access to a low cost approach to retirement savings.
  4. Which 403(B) Is Best?

    Thank you so much for providing this information. I've come to the conclusion that my HR isn't up-to-date on this area. It's only one person and she's giving me information that only refers me other sites. I feel like I'm learning that it's the environment where it's just 'go with what they send'.....as in these are the people who have the slots in our district so go with them. I had to go digging for information that was not provided for me through my district. Especially concerning the RSA-1 through my state, that I'm currently filling our papers to enroll in, and now this SB Direct Invest........no one from the state OR our district comes in and tells us any of this stuff at the beginning of the year. I had to go asking questions and demanding what was offered in order to find more. Now that I'm learning all of this I definitely intend to help new hires and new teachers coming in to better understand how important it is that he/she investigates and see what more is offered before agreeing to just sign up with whoever they send to the teacher's lounge.
  5. Which 403(B) Is Best?

    Hey guys, I thought this posted on Friday when I sent it to this website, but it did not. I did get information about our investment options through my school district. Looks like the choices all involve some insurance company. Which I'm very shocked by at this point. HR informed me of having the state's 457 Plan, BUT cannot transfer my 6k into that account. HR sent the following email to me that is below. At this point, I've stopped paying anymore money to LSW/ValuTeach and I"m trying to figure out a way to move my money to another vendor. Since that seems like a huge time consuming process and it's in the middle of the school year, I might have to wait until this summer to start digging into how to move my money OR at least get into a better plan offered through the district. Though I don't think it'll be smart to go with any of those insurance companies. Which means I'll have to start over with the investments and start off with the state's 457 Plan. I'm definitely wanting to open a Vanguard account or another account for a Traditional IRA. I do want to increase my contribution to my new retirement savings plan, but for right now I just want to start back investing with the amount I was doing with LSW/ValuTeach. I'd like the option to open my new IRA with no minimum amount needed to open the account...for example, I'd have to put $500-$1,000 into the account to start it. The way I'm tracking myself with my income I'll be able to increase my contributions to my new retirement account to $200 dollars a paycheck for the upcoming school year with my pay scale increasing, but right now I want to start investing my $160 into a traditional account as soon as possible. My husband just started a new trucking job and his company invests their 401k Wells Fargo. I'm trying to convince him to start contributing at least $50 a paycheck to his employer's plan and they match it up to 6%. The blessings of being a truck driver is that he gets paid every week! If only education was so awesome in that way! *Eye Rolls* EMAIL FROM MY DISTRICT'S HR/PAYROLL:
  6. Which 403(B) Is Best?

    I'm having the same thoughts with this money I have now invested with LSW/ValuTeach. I want to move it, but for now it's probably best to save myself some headache since it's here in the middle of the school year and I have many other things to consider. Over the summer I will take time to find a way to move it if I can. So at this point I need to focus on opening my Traditional IRA. Like I said before I was looking at some online spots that I had looked into through Nerdwallet and other sites about "Best IRAs"......... What I need to start this......low-cost, low minimum start up....I will start to invest the $160 that I've stopped with LSW/ValuTeach into this Traditional IRA. My husband just started his new truck driving job so we are in between his last paycheck and my paychecks. Once he's bringing in his income regularly again, then I will start investing $200. I do want to be able to contribute more to this new retirement. As time goes, I want to increase the contributions of course. These are some of the reasons why I thought Betterment or Wealthfront would be good. Which investments firms would be better? Thanks.
  7. Which 403(B) Is Best?

    So here's the email I got back from HR at my school district. Wow, they seem to offer only insurance agencies as options for investing. With the exception of a 457 offered through our Alabama Education Association. Where do I go from here? "The only other investment groups we offer through payroll deduction are: American General Life Insurance Company and Nationwide (offered through AEA). We do not have a payroll slot for Vanguard. We do have some slots for a Plan 457 but I don't think you transfer your 403 plan to a 457. I hope this information is of help to you."
  8. Which 403(B) Is Best?

    I"ve sent for a list of our other vendors. Payroll should get back with me soon. So basically when I get this list I'm looking for options that fall outside of an insurance company, correct? I've already spoken with LSW/ValuTeach and they couldn't give me any information about the funds or where my money is being invested. I can't transfer this over into a Roth IRA. So I have to find a vendor with a low expense rate to transfer over to into another 403b plan. I wish I had of done more research before I got into this plan. I went with the quickest and easiest way, but now that I'm learning more I feel overwhelmed and upset that I didn't ask more questions about things. I also feel like the school system as let me down by not giving me all my options and why was this the only company I had access to all this time. Speaking with Vanguard today about trying to transfer my 403b to them and I was informed I'd still have to find out if they are an approved vendor with my school system. Would you recommend starting a retirement plan with a company like Betterment and Wealthfront? I'm currently researching Roth IRAs.
  9. Which 403(B) Is Best?

    Right now I do not contribute to a Traditional or Roth IRA. I strongly know this needs to change. My budget is limited and I need to get readjusted in my investments.
  10. Which 403(B) Is Best?

    Right now I'm invested into two retirement plans. The first plan is with my state through TRS (State of Alabama Teacher's Retirement Plan). It is a mandatory plan that deducts 7.5% of my paycheck monthly. I have to be vested into the state of Alabama for 10 years of service and be 62 when I can request retirement and get my payout OR I give 25 years of service and retire at any age after that 25 years and get my payout for retirement...which will be adjusted for my final year of income (which will be the highest income I'd make for my career). The second plan I am in is the one with National LIfe Insurance Company/National Life Group of Southwest. They are the company that ValuTeach is affiliated with and who holds this account. I clicked around all over the site to find out exactly what funds my money is going into and it just guides me to a 'annuities" definition page. For information, I'll have to call, which I plan to do. I'm 33 and I believe that if I start making better investment decisions starting now I could have a better retirement plan without feeling like I've missed the opportunity to invest and get the most out of savings. I have my son invested in a college savings plan and it's only been a year of investing in his plan and it has grown a lot. I went to investigate the group that the plan is associated with and the plan invests with Vanguard. The rate is 0.15%. I also did more research when it came to putting my son in this plan and was guided to a list of states with the best 529Plans. I signed up for ValuTeach twice in my career. The first time was back in 2009 when I first started teaching. These are the people who came out to the schools and I didn't and still really don't understand the investment world, but I knew enough to understand that I would need supplemental retirement to go along with my state retirement. Since they showed up, I signed up. Then I get a new job back in 2014 and again ValuTeach is the company that shows up to this new school district and once again I sign up and start up this account. I'm not sure who all has shown up as an investment option for this district I am currently in and on my district's website there's no real information and I'd have to ask payroll who all they offer for investment. I know BB&T has shown up to sell their stuff .....banking, retirement, etc.
  11. Which 403(B) Is Best?

    I'm currently investing in a 403(b) with LSW/ValuTeach. I'm wanting to surrender and take all of my money and go to another investment company. Right now, the agent who enrolled me in the account says that the account has no fees and is risk free. I started out investing $150 into this account monthly and then they met with me last year and said if I was investing more I'd have way more money by retirement (which I get so started investing $160). It is an SP Platinum plan. My statements read that the money is going into S&P 500 at 100%. I don't know exactly what my money is being invested in. I also don't know what "premium tax" means and why it doesn't list a number or at least says 'none/o.oo'. This account has been opened since Oct. 2014 and has about $6k in it as of now. I think I could do better with another investment company, but I'm concerned about the tax penalties....however, if I move now I could get through the penalties and make better investments with my money. Thanks for any help you can offer!
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