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  1. Yesterday
  2. Oops a slight error on my part in the heading. I missed a key. I agree with all the posts for the most part and can see all the angles of the discussion but getting rid of my mortgage for me was the best thing I did. I just got my property tax bill and as your house value rises so do your property taxes. Nice to know though that It's a one time yearly payment now instead of a monthly mortgage payment plus property taxes plus interest. The interest you pay on owning a mortgage is pretty significant. That's a huge fee IMHO worth getting rid of. Also the mortgage tax deduction is ripe for elimination.
  3. Last week
  4. OP. I remember the FEELING of paying off my mortgage when I was 57. What a relief! Here is another article that may help you decide: https://www.cnbc.com/select/what-age-to-be-debt-free/. In this day and age of tens of thousands of financial blogs, articles, discussions and podcasts, there are hundreds of articles on this one subject and multiple discussions on the Bogleheads forum. FWIW, it's not just the numbers, but the debt free experience that counts too. Heck, if you don't like being debt free, you can always borrow money and purchase Tesla stock like this fellow did: https://www.bogleheads.org/forum/viewtopic.php?t=330263
  5. After all of you newbies come here and get excellent information about changing from those annuities into something like Vanguard, Fidelity or NEA Direct Invest, you will get the returns that you deserve when you construct your diversified portfolio. I use mine as an example. My portfolio is very boring and conservative because I need my portfolio to fund my retirement. It's not for anybody who has pension(s) or are young. You want to be much more aggressive by increasing the stock allocation over the bonds. My Vanguard and TIAA portfolio YTD return is 6.8% for a 34/66 stock bond split after today's close. I am happy with this return. It's almost doubled from the Q3 report at the end of September. The second image is a report generated by Vanguard. It tells me I have too much value stocks, too little international bonds and stocks. Steve
  6. I'm probably the only one in a HUGE district who uses direct invest. I had no issues signing up at all either. Go for it.
  7. I don't think you should be concerned that you would be the first person in your corporation to use NEA Direct Invest. You should be PROUD! There may be no hangups. Every district/corporation is different. You can't predict these sorts of things!
  8. Interesting because with my relatively small sample set, I've never heard of Fidelity telling that to anybody. I wonder if somehow the two are connected.
  9. In Indiana, most public schools are part of school corporations instead of school districts. Not sure if there is a difference other than the name.
  10. I talked to another person at Fidelity today (they finally returned my message). This one didn't mention anything about having to have at least 10 members and $1M transferable assets for Fidelity to be interested. This guy said at this time Fidelity is not interested in being added as another choice for our 403b list. He said if we were able to get Fidelity as the only vendor for our 403b, then they'd be interested. I'm thinking that it's just not worth it to them to bother with our small corporation. From another teacher in a neighboring state that I talked to that went through this process a few years ago, Vanguard was going to be more expensive for his school district, which is why I had been focusing more on Fidelity than Vanguard. Looks like my best bet is to go through the trouble of trying to be the first person in our corporation to use NEA DI.
  11. I thought so too and that's why I PUSHED IT SO HARD. With expense ratios like that who needs Fidelity or Vanguard. This or something like it should be available to every teacher in every school district in every state.
  12. Earlier
  13. No. Why would I pay off your mortgage? 😛
  14. Here's a link that explains the fees, how to build a fully diversified portfolio, and the steps I went through to enroll. Wow, if I'm reading this correctly, that is an unbelievable plan (I must have forgot about that). Only a flat fee of $30.50 per year and expense ratios like these: S&P 500 (domestic stock): 0.01% MSCI ACWI ex-US (international stock): 0.06% Bloomberg Barclays US Aggregate Bond (bonds): 0.03% That's incredible. I encourage that. Think about getting Vanguard and Fidelity added as well.
  15. It's not that we are fast necessarily, just that business is slow on this discussion board. Covid 19 has seemed to make it even less active with so many folks working from home and struggling with other issues like teaching online or watching/helping their own children. Others may have lost a spousal income. Still if you are collecting a paycheck you should be involved in your financial future because if you don't look after yourself no-one else will. I know some teachers with small limited pensions and no savings and it's been a rough road in retirement for them and they have had to look for additional income. I probably over planned but I guess it's the better way to go. Looks like we are heading to another lockdown. Hope not. I've been doing what I normally do. i just wear a mask and carry hand sanitizer. Look to Sweden on how they have handled this Covid 19 without all the mass hysteria. I will have no problem getting the Vacine when it arrives. Others are swearing not to get it. WHY?
  16. here is a link if someone else in Virginia needs it. https://www.varetirement.org/dcp.html
  17. Wow you all are fast! Yes I have read about the direct invest option. I have more of a “fight for all” mindset so I will get the 457 plan added. I saw it was an awesome plan with great expense ratios. thanks so much for the fast replies! - David
  18. Here’s a link to the schools that are participating in the VA state 457b plan: https://www.icmarc.org/prebuilt/apps/downloadDoc.asp Tony is your man to help you get your school added to that list! Setting up an NEA Direct Invest 403b account with Security Benefit was covered in msucurt’s recent thread. After you read it over, please come back here with any questions.
  19. David I'm in Virginia and taught in Virginia. We have an excellent 457 state plan and teachers are eligible!! I got it added. Talk to someone competent who handles these things in your district about adding it. One call to VRS would give the info you need to add it. Its sooo easy to add but it's too good a secret for some reason and many school systems don't add it because they don't know about it. It has index funds galore and target /life path funds galore at Vanguard like expenses. No high fee insurance type products. Someone smart and savy was looking out for state employees with this excellent option. Also as was mentioned above by bash dash, you can put together a basic Vanguard portfolio at low cost going through NEA invest via security benefit. Read some posts about it in other recent threads on this forum before proceeding. We have discussed it ad nauseam tony
  20. NEA Security Benefit has a "direct invest" option. There are many posts about it on this board. It is DIY. Do not call a salesperson and ask about it. Good chance they will act like it doesn't exist. I use it and it is great.
  21. New teacher assessing 403b/457 options in Virginia. To my understanding this is my current plan. I am looking to get the most tax deferred money as possible, or at least max out a 457 tax deferred plan for 2021. 1. 9% into VRS hybrid plan (stock fund - S&P 500 index clone). This is the max I can contribute and captures the full employer match. 2. It has been difficult to find 457 choices but I will attached the picture provided by my county website that was under the 403b section. Looking to get the rest of the $19,500 max contribution into a good 457 plan and if possible more into a 403b plan. Hopefully this all makes sense! Any help would be greatly appreciated! David
  22. The White Coat Investor article, including comments, is excellent! Thanks MNGopher!
  23. When we start to talk about emotions and psychology, I'm not saying there is a right or wrong. However, I'd more easily relate to the emotional drive to rid yourself of a mortgage if it meant that no matter what happened your housing would be taken care of for life, but property taxes and all the rest make that impossible.
  24. Ed and Tony are having one of their classic left brain/right brain friendly disagreements. It think it can be shown that mathematically, investing the money will beat paying off the mortgage more often than not, but that doesn't necessarily make it the best choice for everyone. You can't really put a price on peace of mind. Let me be the centrist here. In my case I bought a new construction 2,000 sf home in a medium cost of living area for $104,000. This was in 1995 and my original interest rate was 7 point something. I didn't know a lot about investing and only had annuities through my employer plan, so I plowed most of my extra money into the mortgage and paid it off in a little over 11 years. With the mortgage paid off, I started saving and eventually started investing more around the time of the great recession, which turned out to be a good time to start. Now, I was lucky on the timing here, and looking back at the rate of return of the stock market during the years that I held the mortgage, it probably would have worked about the same if I had invested the money vs. paying off the mortgage. My timing was lucky and it worked out for me, but in today's environment it certainly seems that keeping the mortgage and investing is the better choice. However in the future, who knows? Jim Dahle, "The White Coat Investor", wrote an interesting blog recently on the this topic of paying off debt vs. investing. https://www.whitecoatinvestor.com/pay-off-debt-or-invest/
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