Jump to content

jwils118

Members
  • Content count

    4
  • Joined

  • Last visited

Community Reputation

0 Neutral
  1. jwils118

    Choosing 403B Plan, is it worth it?

    Thank you for all the advice! I think I will end up doing something similar to what you described since I'm okay with a little risk at this stage in my life. Hopefully, the returns show up after a good amount of time. This forum has been great and I will be back. My brother works in the same district, as do many of his friends, so I will be spreading the word about our district options. Thanks for everything guys.
  2. jwils118

    Choosing 403B Plan, is it worth it?

    Tony and Krow, Thanks so much for all the help. I didn't even know that the 457 would be a viable option. I contacted HR and found out that we do have two options for 457 plans: Ohio 457 Deferred Compensation Plan and OASBO 457 (VOYA) Deferred Compensation Plan. I looked a bit into the first one and I believe this is the one that Krow mentioned in the previous post. After you pay the .14%, they seem to run their own type of retirement fund with a .06% ER https://www.ohio457.org/iApp/ret/cmd/RetFundProductInformation;jsessionid=0F1B4D83F1C18E6FCA7C7C3E3FFEF555?ENTITY=null&userSite=OHIO&pageNum=2 They also have a few Vanguard and Fidelity funds by the looks of it, but those would require some asset allocations every few years. I've never heard of VOYA though for my other option?
  3. jwils118

    Choosing 403B Plan, is it worth it?

    Thanks Tony and Krow, I did get my expense ratio from adding in the admin fee (which probably isn't what I was supposed to do..) but you made great points on that when I get more money into the account, I will have less of an admin fee added in. I teach in Ohio and unfortunately, my district doesn't have a 457 from what I've been able to gather. I will most likely bite the bullet and try to invest as much as possible these next few years into the Aspire option. HR did mention in our yearly 403b letter: Contact the Treasurer’s office if you would like to use a Provider that is not on the approved list. In general, in order for a Provider to be made available under the Plan, at least five employees must make a request to use that Provider. In addition, before a Provider can be approved, the Provider will have to agree to follow the terms of the Plan and to provide other documentation to the Treasurer’s office. This seems like a bit of work though. Not sure how successful or much of a stir I would have to make to get someone like Vanguard included.
  4. My current best option from the following list looks to be Aspire... Ameriprise/ RiverSource Aspire AXA Equitable D & E Financial First Educators/ FEIC GALIC/ Great American Lincoln Financial Group The Legend Group VALIC Voya I was thinking about Aspire but once I added up even the low fees without an advisor, I'm not sure if it would be worth it. I would probably try to invest somewhere around $4,000-$6,000 a year. So after their $40 annual fee plus 15 basis points, plus another 15-20 basis points from Fidelity (probably their cheapest option), that would cost me somewhere around 1..2 - 1.4% annually in fees. Seems pretty high to me.
×