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tony

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  1. Vanguard Total Stock Index up 27% YTD without a stumble along the way but : Vanguard’s chief economist and investment strategist warned in mid-November:Our near-term outlook for global equity markets remains guarded, and the chance of a large drawdown and other high-beta [more volatile] assets remains elevated and significantly higher than it would be in a normal market environment. (Marketwatch, 11/19/2019)High-quality fixed-income assets, he says, “remain a key diversifier.”
  2. ! I agree with Ed , forget the percentages, save all you can. We were saving 50% of our income but early on much less than that but always more than 15% . We always upped the ante and never missed it.
  3. Jeb Whyme is right SS worry is overblown. It will still be there when you retire in some way or form. Didn't mean to create a false alarm by mentioning it as possibly insolvent but changes do occur. The other thing to consider is the inheritance factor and your health and projected longevity.
  4. Jeb This is a personal decision. No one percentage fits all. With a pension IF you plan to hang around teaching to reach your full payout, that would be one factor to consider. If you are going to exit the teaching profession early and receive a reduced pension that also is a consideration. If your wife/partner works and will also have a pension plan or other saving plan and you think you guys will stay together, that is yet another factor. Personally, We are living comfortably on just our pensions. Wife is 9 years younger than me so she can't collect Social Security for a while. I can collect now but I haven't filed for it yet. I think the article I recently posted about not saving too much or too little offers some insight. It never hurts to save more than you think you will need since no-one can predict the future. They say SS is not solvent and some states have reduced benefits and or formulas for teacher pensions. So personally I would save that 15% if not more in a low cost 403b plan and see how the other things pan out. Medical expenses keep rising so you want to consider that too.
  5. Your wife has a frozen account. I had one of those and since it was no longer available in my plan due to changes I had to leave it be until I retired. But luckily it was with Vanguard so I sort of had your problem in reverse. If its not a huge amount of money I would let it be and just move on to a better option. Maybe a new IRA or taxable account. Unless of course you wish to try and do what you mentioned above with a 401k. Do you have Security benefit? Or Aspire? on her list? You could go to Direct Invest or Self direct into Vanguard or Fidelity. if you do. I'd look into that. I can tell you Vanguard will be a challenge to add. Fidelity might be easier. I would keep up the pressure. Let us know what you accomplish as your information/situation could help others.
  6. Do you have other 403b choices besides the one you want to escape? Do you have a 457b state plan? If you are in an annuity, I believe transferring it to something different won't stop the insurance company from still socking you with surrender fees.Have you considered an IRA as an option, Saving in taxable accounts? Please supply more in-depth information on your situation. I think i remember you posting before but don't remember your post's content
  7. Chris I'm probably of no help with this but maybe you should investigate this topic on investopedia or the IRS website for details. As you know these things can get complicated and none of us know the current facts completely and exactly. Plus this is an unusual question we don't usually get. I'm sure you would want to investigate this yourself instead of relying on a forum. Still see if this helps any: https://www.investopedia.com/ask/answers/roll-into-403b.asp The IRS says that you can roll a 403(b) plan into a 401(k) plan if you now work for an employer that offers a 401(k). You can also roll a 403(b) plan into a solo or independent 401(k) plan if you are self-employed. However, if you work for an employer that does not offer a 401(k) plan, then you cannot roll a 403(b) plan into any type of 401(k) plan. If your employer offers a SEP plan or 457 plan, then you can roll a 403(b) plan into one of those.
  8. Folks wishing to Fire and others planning for retirement might very well consider these factors in choosing where to live. I thought it was interesting. https://mymoneywizard.com/how-much-it-costs-to-live-in-every-state-ranked/
  9. What was once a scrappy underdog now has a market share greater than that of its next three biggest competitors combined https://www.marketwatch.com/story/this-chart-shows-how-vanguards-explosive-growth-has-taken-on-a-life-of-its-own-2019-11-20/print
  10. Here are live links https://www.varetirement.org/dcp/forms.html https://www.ncompliance.com/howmuch.asp https://www.investopedia.com/articles/personal-finance/111615/457-plans-and-403b-plans-comparison.asp
  11. Jane Your guiding light will be-should be be a knowlegeable Virginia state VRS 457b customer representative. Call them yourself to gather info.They will direct you to the 457b specialist. Then have a district rep , perhaps your HR call them after you supply them with you gathered facts and info.. If the district signs off on it, the state plan will be added to your provider list. It will probably have to be approved by the school board. Your HR will have to make a brief presentation. I doubt the school board will object ti its inclusion. From there all info. needed will be on the VRS website to enroll including all forms (https://www.varetirement.org/dcp/forms.html). I think it makes great sense to have your supplemental retirement savings tied to the VRS retirement system which teachers know and trust and which is highly regarded and solvent. Plus the investment choices and fees are very very good, including target funds which are self managed for the teacher who wants a hands -off approach. Other options as well are also available for more sophisticated hands -on investors .In a way, it does compete with your Voya 403b plan although you could actually max out both. That is a huge advantage for some one wanting to speed up their retirement. By VRS offering such a decent 457b plan, it is reassuring because it protects state employees (teachers)from sales people selling them inappropriate or high fee products. You can max out both to a total over $40,000 a year!! in some circumstances (https://www.ncompliance.com/howmuch.aspx) or you can use both to diversify your account's holdings. Also both 403b and 457b have pros and cons. The differences offers more flexibility. BUT , teachers and other school employees won't have the luxury of a sales rep to help them.They will have to do everything themselves online but it's pretty easy to sign up for it online and online reps. can help. An in-service would help introduce the plan to teachers and other employees and the state rep I believe will come do a presentation if requested. I'm not sure how else I can help because all I did was gather info. and then I suggested to HR that I thought it would be a good idea to add it. They followed through and It was a quick easy process with minimal paperwork. I worry your 403b Voya plan will resist wanting it added for self serving reasons. But they don't make the final decision nor should they be able to dictate what options are offered especially since the 457b is not even in the 403b universe. Please stay in touch about what you do going forward. Others can benefit. Tony
  12. According to a September report from the Center for Retirement Research at Boston College, half of retirees are afraid to use their savings, often refusing to touch money they spent decades socking away expressly so they could enjoy leisure activities in their 60s, 70s and 80s. https://www.nytimes.com/2019/11/06/your-money/retirement-savings.html
  13. If true that's great I don't look at the details as closely as you but it wouldn't hurt to get the state plan on board too as a option.Super savers could then max out both!
  14. Good advice!! I didn't think of that!
  15. Here is some info Articles that puts the confusing info we talk about here in snippets all in one place How To Build a Three Fund Portfolio https://www.forbes.com/advisor/investing/how-to-create-a-3-fund-portfolio/?utm_source=category&utm_medium=edit&utm_campaign=etfs Fees you need to know about: https://www.forbes.com/sites/davidrae/2019/07/01/variable-annuity-fees/#2079e3517de2 Should I roll my 403b over to an IRA? https://www.merrilledge.com/ask/retirement/rollover-a-403b-to-ira-retirement-account
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