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karenn

Tiaa-cref Vs Ing Vs Aig

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I am young and working for a University in Louisiana and they offered me a 403(b) with three choices: TIAA-CREF, ING, and AIG-VALIC. I've learned from this site that AIG-VALIC might not be a good idea because it is an insurance company likely to sell me annuties with high fees.

 

What about ING? It's a bank, so is it different?

 

I like TIAA-CREF, but a co-worker claims that her mother lost money with them (no details on this).

 

I asked the HR person at work about what to choose, told her what I had learned, and I realized within 30 seconds that she had no intention of even listening to me. Apart from a money market account I open a month ago (to get rid of my US Savings Bonds), this is the only investment I've ever done. My instincts tell me to go for TIAA-CREF, but I can't go ahead without asking you smart people about it.

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Guest Sierra

I am young and working for a University in Louisiana and they offered me a 403(b) with three choices: TIAA-CREF, ING, and AIG-VALIC. I've learned from this site that AIG-VALIC might not be a good idea because it is an insurance company likely to sell me annuties with high fees.

 

What about ING? It's a bank, so is it different?

 

I like TIAA-CREF, but a co-worker claims that her mother lost money with them (no details on this).

 

I asked the HR person at work about what to choose, told her what I had learned, and I realized within 30 seconds that she had no intention of even listening to me. Apart from a money market account I open a month ago (to get rid of my US Savings Bonds), this is the only investment I've ever done. My instincts tell me to go for TIAA-CREF, but I can't go ahead without asking you smart people about it.

 

 

Stay away from all firms that assign a human being to your account. That means the firm must pay that human being. The pay comes in the form of a commission YOU pay. Using that as a guide we have just eliminated all your choices EXCEPT Tiaa-Cref. TIAA-CREF is a legal reservice life insurance company chartered under the laws of the State of New York. As a life insurer they are very unique insofar as they distribute their products directly to YOU. They do not have a commission sales force. They are what we call in the trade a "no-load" firm. GO WITH THEM!!!!

 

Joel

 

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check into the fees and structure of each, but almost without a doubt, it will be TIAA Cref.

 

As far as "the mother of a friend losing money with them" - There are times where almost everyone loses money and there are times when almost everyone makes money. If this individual was perhaps approaching retirement in 2000-2003, when the market dropped substantially, she could have lost a fairly good chunk of accumulated assets - but, being invested in a different company would not have changed that fact. More than likely, another company could have been even worse. That is why becoming more knowledgeable about long term investing and asset allocation will also be important to you.

 

You can learn a lot of the basics from sites like this.

 

motleyfool.com and morningstar.com are two other sites that have some good, general information on getting started and learning about asset allocation.

 

You are doing well to be checking into all of this before investing, rather than after 10 or 20 years of uninformed choices.

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