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  1. Joel, I agree. I wish I would have known from day 1. I will just have to do what I can now and spread the word.
  2. Hello everyone, I have an update on my 403b option. I found out last night on the bogglehead website from a fellow poster that Ohio public employees are able to enter into the Ohio Deferred Benefit program. It offers a 457b with extremely good mutual fund choices like VG, Fidelity, Dodge & Cox to name a couple of companies there are no additional fees other than the fund's MER, which every offering is below 1%. Therefore, because I am a Ohio public employee, I am eligible to enroll in the program thus I contacted the company to send the paperwork to our school district. So, I will not be pursuing VG in light of this new information. I just wish somehow I would have known this years ago, since it has been available since 1976. I will keep everyone updated once this actually occurs.
  3. Hello everyone, I emailed my treasurer VG's information last night. I have not heard anything today. As soon as I find out, I will let everyone know. Greg
  4. Thank you. If we are approved, I will ask VG about both to make sure it applies to our situation. I will keep everyone informed. Thanks again. Greg
  5. Greenwich3 This keeps encouraging me that will be able to get them as long as the stipulations on our end is met. Just curious, are you not able to get Admiral shares because they do not offer them in 403bs or is it because the individuals in the plan do not meet the minimum requirement for admiral shares? Also, I believe you are not able to purchase ETFs in the 403b, correct? Thanks for information! I will keep everyone updated. Greg
  6. Tony, I got off the phone with VG a little while ago and talked to their Concierge Dept and they told me that our treasurer just neede to contact them to tell them we are interested to get them as a vendor and fill out the paperwork to send in to them. It seemed like we can get them as a direct vendor without any stipulations. I am cautiously optimistic. So, I will let everyone know when I find out. Greg
  7. Tony, I understand what you are saying about the average teacher, it makes sense. I think we all have made investing mistakes. I probably still do, but i want to learn from them. I will start looking through those posts from the people you have mentioned to learn more. I have been on the Bogleheads website the last couple of days. It has given me some good insight. I will have to look into Dan Otter's book. It has been a good experience searching and joining this site so far, as well as, the information I have learned from your replies. Thanks again. Have a great Easter as well, Greg
  8. Tony, Thanks I appreciate it. It is extremely ironic and funny you mention that about the younger teachers. In an earlier post, I told you that I met with a Horace Mann rep yesterday and it was a follow up meeting that he did with our entire teaching staff about 1-2 months ago. In between that first and second meeting with him, I talked to some of the younger and middle of the road teachers like myself to find out if they were interested in going in a different direction because I thought we could get a better vendor. I had about 7-10 teachers said they were very interested or basically to put them down as in. So yesterday through the course of conversation with the HM rep, he told me there were a couple of teachers that signed on with him in the past week. It just so happens that one of those names was of a younger teacher who said they were in with our group. When I heard that, I felt on the inside I was stunned and upset. Maybe you can identify with this. Trust me, I do not claim to be a self-proclaimed financial guru far from it. However, I feel that I try to really research, constantly try to learn and find out the correct information so it would financially benefit me and any other person I would share this knowledge with. I was as honest as possible with these teachers and told them the only interest i had in this was to get the best vendor for us (me included) and so they could start an investing program to have something more for them when they retire. So after reading your latest post to me, I almost felt like you were at our meeting yesterday listening in and trying to save me from some disappointment and frustration. I feel the same way now because I was not in a suit giving a presentation probably created by the main branch company and giving away prizes. It makes you feel because of this that I know nothing. I also talked to another young teacher before we left break and told him I would let him know what vendor we would be pursuing and told him I was meeting with the HM rep this week. He then preceded to tell me that he was meeting with him next week when we get back from break. He told me he scheduled this on the day the rep met with the staff. I hope this is true. It will be interesting to see if this teacher signs on with the rep. They were nice people, however as we both know, they are salespeople trying to make a living and deep down not concerned if they can maximize their financial investments. It seems like the old saying is true, ' Nice guys finish last.' Sorry about the rant and 5 page paper:). As like you, I will see how this situation plays out. If they are persuaded by the rep, I will stay the course for myself and only help the ones that seek it. I will let you know how it turns out. Thank you. Greg
  9. Sorry for some of the spelling errors I am usually not that bad. I need to proof read more :)
  10. Tony, If you were replying to me and not Greenwich3 on the first reply, thanks again for the advise it is greatly appreciated for sure. I have been maxing out my regular Roth IRA starting around 27 yrs old. For me, I do have my regular Roth IRA funds in VG. I am currently contributing the $5500 max for me until I am 50 when i can then contribute $6500 per year. I was just figuring when it comes time to retire at 35 years of service I will have a regular retirement plan through our STRS which is a tax deferred plan and when I retire, it will become taxable income. I figured the regular Roth IRA will be tax free income in retirement. So, I was hoping the 403b option I could use it as a Roth 403b, since I will be paying taxes on my regular retirement plan. I do not want to have to pay taxes again even though in retirement I will more than likely be in a lower tax bracket. I just like the fact of letting my money grow tax free and withdrawn tax free, even though I know it is taxable income instead of tax deferred. I have talked to VG on a number of occasions and they told me they have no plans on offering a Roth 403b plan. I believe the answer they gave me was because of the costs associated with it, so I did not go into discussions of why with VG. So, if I can get VG in our 403b plan I will be happy because it is low cost and by far more cost effective than any other plan we have even though they do not offer the Roth 403b. I am trying to get the younger teachers to start investing for retirement, so I feel it is my obligation to get the best option available for everyone involved, so we can maximize the money we do invest. I know at the age of some of our younger teaches, I would have appreciated someone to do this for me and help me along. Which in my case, I had no one to so me the ropes. I had to do it through the school of hard Knox. Sorry for the long response, I just wanted to explain my situation in a little more detail. Thank you. Greg
  11. Tony, I do see what you are saying about the new regs and having an intermediary. I appreciate the knowledge. It was also a concern of mine as well talking to the VG rep wondering if the information he was giving was 100% accurate. Even though they are a quality company with quality staff, the rep may not have given me all the facts knowing my school's situation. That is why I am going to call back on Monday to double check this information. As for our school, my treasurer told me as long as we had at least 5 employees wanting a new vendor like VG, she said it was OK to use them on our part. As for VG, the rep did not give me a certain number of employees that had to be signed up or a certain amount of money that needed to be available to invest. So, I am optimistically hoping I can get this to go through. So, we shall see on Monday. I will keep everyone posted. I know it is a Holiday weekend, but I thought I would have more input from other 403b wise members. The more information for me the better. Unless everyone agrees with Tony (which I respect every word you are giving), which I have said earlier, I really was leaning towards VG anyway. I did some more research last night on the VG vs AF through HM choice. All of my research has pointed to VG. One of the only reasons I looked at American Funds through Horace Mann was the fact that they offered a Roth 403b option. However, it is tough to stomach knowing that I will have a front end load everytime I put money in the AF choice. For example, if I am investing $100 per pay I will have a front end load or 5.75% on this amount up to $25,000 then it goes down to 5.00%-Yippee!:) So, I will actually only be investing $94.25 every pay instead of the full $100 plus AF have a higher MER. I can not bring myself to do this just for a Roth 403 b option. Any other thoughts. Thanks again. Greg
  12. Tony Thanks for the reply. I had the same concern as you about getting VG but when I contacted them on the phone the rep told me we could use them and then i was emailed the forms that our treasurer needed to fill out to get them in our plan. My only concern would be what you said about the new regulations I am not sure if it has to do with a certain number of employees in the plan, the total amount of money that would be invested in the plan per year, or you need to have $1,000,000 in plan assets. When I contacted Fidelity and Tiaa-cref, they both told me this information. Thus our district did not meet their qualifications. When I talked to the VG rep, he did not mention this to me, so we will see. I think I am going to contact VG again on Monday to double check if my district can use them. Please keep the feedback coming, it is appreciated. Greg
  13. Hello everyone, This is my first post. I just wanted some more input on a 403b decision I need to make. I can either choose a 403b/roth 403b option with horace mann who is offer earring all American funds A class shares and they go by the loaded schedule plus MER fees. Or as long as I have enough teachers to join, I should be able to add Vanguard according to our school's treasurer. After talking with the HM rep today and actually seeing that their is a front end load fee, it looks like a no brainier to me to choose Vanguard. I would appreciate any and all help in this matter. Thank you. Greg
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