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Shannon

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Everything posted by Shannon

  1. Shannon

    District 457 Approval

    Good Morning, My district is willing to approve the 457 vendor Fidelity and/orCalSTRS. I was told that Vanguard does not offer a custodial or group 457 for the Public School Sector. I was wondering if you clarify something for me? It was told to me that "NOTE: Fidelity does not offer online services for its 457 and is currently all manual processes. If the participant wants to select Fidelity for the online convenience and/or from previous experience with a 403(b), 401(k), IRA, or similar, this will not apply to a 457)" I am not sure what this means? Can you clarify? Also, I started the process of rolling over my previous 457 into my Vanguard 403 (b) account. If I open the Fidelity 457 should I roll it into there or just keep in the 403 b? Does it matter? It is going to make any difference?
  2. Shannon

    District 457 Approval

    I was told that information by my third party rep. We have Tax Deferred Solutions. I told him that I would like to move forward with the Fidelity 457, so I will definitely keep you posted after I enroll. He says there will be a wait, so it may take some time. ~Shannon
  3. Shannon

    District 457 Approval

    Thanks everyone for the feedback. Yes, that is the plan-to contribute fully to the IRA and 403(B) both with Vanguard and open a 457 with Fidelity contributing very low until I can work up to a higher contribution. I do plan to do an index fund, so I guess I would be just fine with paper statements. I do plan put my inherited 457 into the 403(b) and I believe that it still remains a "457" at least that is what I was told. I was told by the third party that if I did call, I would be told otherwise, but it wasn't the case..he says I really appreciate the feedback. I wanted to make sure that it all checks out with you all who are WAYYYY better informed than me. I am still learning about invest, but I want to learn. Thanks for the input @krow36 @EdLaFave @sschullo
  4. Shannon

    District 457 Approval

    @krow36Knowing that the 457 Fidelity would not have online access, would you still go with it? You would do the "Freedom Index"...I am 38 years old. Is that based on age and when you retire?
  5. Shannon

    District 457 Approval

    @krow36I asked-- "Just to clarify—does the Fidelity 457’s manually mean that the management chores will be done by telephone and snail mail? Will I be able to see the 457 account online or just by statements?" The reply: "Yes, that is correct. Based on feedback we have received, most of the Fidelity 457 is still on paper and via telephone, and not online. Please note that if you call their Customer Service Line they may tell you otherwise, mostly because their 457 products are still new and being upgraded."
  6. Shannon

    403(b) help!

    Thank you, ElLaFave!! Will do!
  7. Shannon

    403(b) help!

    Good Morning, I am an educator and currently researching 403 (b) plans. It is so overwhelming because my district has so many product to choose from. I have been looking at the CalSTRS Pension2 and the Vanguard 403(b). Does anyone have an insight into which product to go with? This is all new to me, so anything i should be "looking for" or anything to "steer away" from? Any insight would be helpful! Below are ALL of my approved vendors. Thanks!
  8. Shannon

    403(b) help!

    Hi Sorry for the late reply! So this morning I cleared some things up. My 403(b) account is set with Vanguard and will begin to contribute next month. My ROTH IRA with Vanguard is set up and will contribute $500 a month. Both are set to the default target retirement "2045" (they choose for me). My Vanguard 403( b) will accept my 457 to rollover. I just cleared up with Voya, that I can keep the account but I would have to begin to make the minimum withdrawals by IRS when my dad becomes 70.5 on the account. He was the original account/employee of City of La. Therefore, I am going to rollover into my 403(b) or Vanguard says I can put into a Traditional IRA with them. Thoughts?
  9. Good Morning, I would like any input in the best way to invest my $!! I am an educator and just opened a 403 (b) with Vanguard that I will start contributing starting next month. Come to find out my school district does offer a few 457 which I have attached. I was planning on getting Roth account with Vanguard as well? At this point, I have roughly $2,000 to invest a month. How would you allocate? In addition, I have an account (457) that I inherited with the City of LA (Voya is the record keeper) that has about $30,000 in it. I need to roll those fund over to my own account. Should I roll over into the 403b? Open a 457 (in addition to my 403b)? Roll to a Roth? Any input would be greatly appreciated. All this is very new to me! Trying to learn and figure all this out! Did I mention that I AM NOT a Math teacher! ~Shannon
  10. Shannon

    Seeking Financial Input 403 (b)/457/Roth

    @EdLaFaveThank you so much for taking the time to reply with this wealth of information! It is so helpful! I am still learning!! Ok, I am taking all this in. I will see where I can get with the district 457...!! Fingers crossed!
  11. Shannon

    Seeking Financial Input 403 (b)/457/Roth

    @EdLaFaveI appreciate you responding and your links. I have checked them all out. Thank you.. I call Voya which has my 457 and they said it could be rolled over to my 403 b if VG accepts it. If not, she said I would have to create a traditional IRA for the 457 money because it already has been taxed. I also inquired about withdraws. With this account (457 inherited City of LA) I would be penalized if I made withdrawals... Would it be best to put into a traditional IRA or in my 403 b (assuming VG accepts)?@edlafav@krow36@tony BTW-You guys are super smart!!!
  12. Shannon

    403(b) help!

    @krow36 I have not made any withdraws from this account. They told me in 5 years I have to start withdrawing (when my dad is 70.5). I inherited the account in 2011after my mom's passing, which was her account (spilt accounts after divorce). My dad is still alive and he was the City of LA employee who the account was through. I don't have a link, it was info I was told by the account representative. Hopefully this make a little more sense?
  13. Shannon

    Seeking Financial Input 403 (b)/457/Roth

    @tony I will do the Target Fund! I am hands-off! Thanks for the input. @tonyand Krow36--Yes, the $30,000 is with the City of LA (previous employer) that I have to dissolve in 5 years. I can work to get a low cost vendor, which I have some time. But if Temple City doesn't, then roll it into VG 403b or the expensive 457's that are offered to me?
  14. Shannon

    403(b) help!

    @krow36Hi Krow. Yes, the Pension2 does have a 457, but it isn't available to us. I had a rep from there get in contact with my district to no avail. The problem with my "old 457" is, I have until my dad is 70 years (about 6 years) to roll it over because the account was originally his and he was the employee. My "old 457" is 100% Asset Allocation (Aggressive Portfolio), which I don't have rights to contribute. I will pursue my district to add a lost cost vendor. What would you do if they don't? I do have some time before I have to roll over the 457 account. Thanks!!
  15. Shannon

    Seeking Financial Input 403 (b)/457/Roth

    @EdLaFaveI will do that...I just opened the Vanguard ROTH IRA today and waiting for my account to be processed. Is there an "index" of some sort so they can choose for me? I wouldn't even know how to choose the funds?! Should I roll over my $30,000 from the old 457 into the ROTH or 403b? Do you have any thoughts on that? Thanks for all your insight with my posts-it has been very helpful!!
  16. Shannon

    403(b) help!

    @krow36 I now see what you are saying about the 457...Are you familiar with Roth IRA's?
  17. Shannon

    403(b) help!

    @krow36Thanks so much for the input!! Will do!
  18. Shannon

    403(b) help!

    @sschulloHi Steve. I am at Temple City Unified. Thanks for the input about Vanguard. I will go with that!
  19. Shannon

    403(b) help!

    @EdLaFaveI will do that! Thanks for your time!
  20. Shannon

    403(b) help!

    @tonyThe input is much appreciated! Thank you
  21. Shannon

    403(b) help!

    @tonyYeah, it makes it stressful for the everyday person!
  22. Shannon

    403(b) help!

    @EdLaFaveThank you for your input! I really appreciate it! Ok, so I did check and I do not have access to a 457. I plan to open a 403(b) account with Vanguard, and I would like to also open a Roth IRA and contribute. How do I go about opening a Roth IRA? Is there a certain company your suggest? It is completely separate from the 403 b, correct?
  23. Shannon

    403(b) help!

    Thank you so much, Tony! This helps. It confirms with what I have been leaning towards, but felt unsure! Thank you!
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