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Bashdash

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  1. Kind of fun charging this brokerage a roughly 1% AUM fee
  2. Vanguard will not offer a bonus and I am happy that they won’t 🙂
  3. Just wanted to say a quick thank you to all on this board and the plethora of amazing info. Quick tip for new retirees: If you move your 403b to an IRA at fidelity or one of the other many brokers make sure you take advantage of any bonus offers. Probably can get a quick thousand depending on the size. Of course make sure low cost index funds are available first. Quick tip of those with a taxable brokerage account. I first moved my taxable account to a brokerage who happily paid me 600$ to have my money. ( not a big account by the way). Better yet, in around five months after I had the money there in which was required I then called up and asked them for paperwork to switch to another brokerage. I really didn’t have plans to do so. Next thing I know they offer me a 400 retention offer to stay another six months. I was very nice throughout the whole process and even said I have been happy with the service I have been receiving but could not resist an offer my sister had emailed me from another brokerage. This phone call took ten minutes. Fast forward another six months and I do the exact same thing. The rep says they probably won’t be able to help me this time and puts me on hold. Comes back on and offers me another 400$. This is account just has me invested in VTI and I pay no other fees or commissions. Doubt this will put a dent into the huge amount of fees I paid as a new teacher to the sharks. Thought this might some of the kind folks on this board. I do have a vanguard Roth IRA which I won’t mess with regardless of any offers. Those with existing IRAs at fidelity or anywhere other than vanguard should be consistently asking for retention offers.
  4. Bashdash

    Why Insurance Companies will not do Self-directed 403bs

    Which do you want your legacy to be? 403b annuity salesmen:. Thank you for signing me up in the beginning of my career to an inappropriate insurance product. Yes this was my fault too but I do appreciate you clearly disclosing the fees associated for my account and their long term impact on me. Most of the extra work i did outside of the classroom went straight to your fees. I helped fund part of your retirement. Krow36: Thank you for anonymously opening my eyes to the high fees my account was generating. Thank you for teaching me what a expense ratio, 12b-1 fee, management fee, mortality fee, and others. Also thank you for teaching about asset allocation and how to create one that fit my family's risk tolerance. Thank you for spending hours checking my many questions even when they were very novice questions. All while my friendly salesmen was dodging my questions once I smelled a skunk. My salesmen was not responding yet krow36 who doesn't even know me is clearly and concisely answering all questions patiently.
  5. Good point. Only difference is if a car salesmen sells you a lemon he doesn't get 2% every year.
  6. My understanding is that those providers can be added for "free". I don't think those are the only ones that can be added although I'm not sure. The problem is there is no official procedure to get a vendor added. I once heard on the phone from HR that if I got ten more people then I can add another vendor. Instead, went to anonymous people online to learn about SB direct invest.
  7. Bashdash

    403b Vendor Options

    The ny 457 plan is amazing and low cost. It is ale known as the ny deferred compensation plan. You should ask for access to it. I didn't even know I had it available to me due to my ignorance. It will take a lot less aggravation to open up compared to security benefits direct invest. You can contribute equal amounts to both believe it or not. If you don't have access to the ny 457 plan make some noise and get it.
  8. I love the security benefit direct invest auto rebalance feature. Thanks to this site and bogleheads I got rid of my hideous variable annuity and decided on the vanguard balanced index fund ( 60-40). However, that did not have any international holdings so I just created a 60-40 allocation on the direct invest but also included some international in the equity portion. I set the auto rebalance to yearly and I am not going to look at it for another thirty years. I think they have options to rebalance quarterly, semi annual or annual. They do send some snail mail each time the rebalance occurs. I originally had quarterly but was getting sick of the mail so I changed it to annual since I don't think it makes too much of a difference. Thanks 403bwise!
  9. Bashdash

    New NY state teacher 457b vs 403b

    Duncan, The ny 457 aka deferred compensation plan is amazing. I only wish I knew about it earlier. Amazingly low fees and transparency. I moved my crappy 403b to security benefit direct invest and make all my new contributions to the ny 457. You can easily create a three fund portfolio. The names are kind of funky so ask if you need help making a three fund portfolio.
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