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  1. Thanks for the reply. I'm not going to a Roth, just a traditional IRA. So it's no cost but down the road I may start converting g some money to a Roth.
  2. Since I am now retired from service as well as turning 59 1/2 in a few weeks, I am planning to rollover my Vanguard 403B to a Vanguard IRA. This will now allow me to use Admiral Shares which weren't available in the 403B. I was just wondering if there was any reason to not do the rollover. Thanks
  3. Thanks. The only thing with VG 403b is that I do not have access to Admiral shares, but that is a small difference. I am very glad I found this site as I learned a lot and have a lot more than I would have if I didn't read this board.
  4. I had asked this question awhile back, and now that I am at retirement, I would be interested in seeing if there are other opinions or information. Even accountants I spoke to give different answers and don't seem to know how to handle this. Thanks
  5. I am retiring from teaching next week and will be collecting my NJ pension while it's still there. Separation from service allows me to move my 403b and and 457 even though I'm not 59 1/2, so I am considering rolling them over to an IRA. Since we have Vanguard at our school, it's not a bad deal and the basic difference is it doesn't allow me to buy Admiral Shares. The other issue is, here in NJ we pay NJ State tax tax upfront when we put money into the 403b/457. So if I withdraw money from the IRA later, I would think it would be a little messy dealing with state tax issue, especially if I move to another state that has a state income tax I would get double taxed on the state level. One accountant told me that other states will try to get their share even though I paid it in NJ upfront. So I am thinking maybe I should just leave money in these accounts since it is VG and not an insurance company. Any suggestions or comments?
  6. Not sure if this works the same in other states, but NJ takes out state tax before money is put in the 403b as well as the 457b. (Also, this is not told to employees when they sign up for their 403b). Since I am close to retirement and plan on rolling it over to an IRA, I am worried about being double taxed by NJ upon withdrawl, and also if I move to another state who has a state income tax, will they also put their hand in my pocket?
  7. Hi Green,I didn't understand your last sentence about Wellington. Steve Sorry, I meant I was moving some money from Wellington to Wellesley and I am lowering my equities as I am getting older.
  8. Hi Steve I enjoyed the read on Bogleheads as I read that site fairly often. I learned a lot there, on this site, and reading your book. I am thankful I caught The Retirement Gamble as it woke me up from a 30 year financial sleep. I have a lot in Wellington, but as I get closer to retirement, I will probably move that fund to Wellington. Good luck!
  9. I wanted to read the article and I tried to open it, but the link did not work.
  10. Greenwich3


    It is my opinion that the companies put in a $20 fee so people think that is all they are paying. I know it works because everyone on our faculty thinks that because they have over $20,000 with one of our vendors, that they waive a $30 fee. So they think that they are getting the product for free and therefore don't look for the hidden fees built into each fund. Gee, I wonder if that plan was carefully thought out by these companies. Ya think?
  11. I noticed that as well, but I think it is because they paid an end of the dividend, so therefore the price of the fund goes down. So if you have that fund, you should see a dividend paid to you. Others could chime in and let you know more about this or if I am correct.
  12. It's funny you are mentioning OMNI. They just started in my district so I now am going to get some info on the deal they struck with our school. Before them, our school did not use a 3rd party.
  13. While trying to get vanguard, I was told over and over that because vanguard was self directed and does not send an "advisor" to our school, they were afraid they would be sued by an employee who would sue because they lost money in their account and the board would be responsible for using a company that didn't supply someone to advise us. I kept reminding them that the advisor is just a salesman who wants commissions and the employees would profit by not paying them. I have to assume someone on the BOE understands why this was good thing and gave it to us as it doesn't cost them anything. I have a lot of issues with NJEA on all this. They do not help teachers understand finances such as buying back years that are available when a teacher takes time off for let's say a pregnancy leave. They find out years later and it costs them thousands. Finances should be a high priority for them, but teachers also have an obligation to help themselves and not waste 30 years as I did.
  14. We are in agreement. Our board doesn't really care and only did this because I bothered people.
  15. Joel Your link took me to your "bleeding in NJ" post so my answer went there. I have also pasted it here below in this thread. Here it is I had read this awhile ago when you posted it. I was under the impression that SACT would be offering better choices as of last July like TIAA-CREFF which I believe you said. But, at that time, I started on the powers that be at my school to give us Vanguard which finally succeeded last year. Assuming you are right about the state being the culprit, not having any power personally and a union that is on the ropes for their survival, I don't see too much hope in getting compensated. The attorney fees would be huge if someone sues.
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