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Broski499

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Everything posted by Broski499

  1. sorry guys, these looked way better when I had it formated in the original post. I'll clean this up later.
  2. I'm trying to decide on whether to use the CalSTRS Pension 2 or School's first Federal Credit Union Retirment Builder which is done through Nationwide. Here are the fees assosiated with School's first. Does anybody have any expereince with them? I switched over to them for my banking and have been very happy with the great customer service. They also have a lot of products deisgned specifically for teachers. Managed Account Services Amount: 0.70% When the Fee Applies: Pro-rated for days under management How the Fee is Computed: Percentage of account value Fee Waiver: No waiver if managed account services is used. The annual fee is pro-rated for number of days under management. Fee is deducted quarterly or at the time of termination of the managed account services option. Fee is in addition to the Asset Fee and internal fund expense of individual funds. Does not apply to accounts not using the service. Fund performance is not reported net of this fee. Breakpoint: None apply. Capped: Yes Asset Based Plan Administration Fee Amount: .21% When the Fee Applies: Daily How the Fee is Computed: Percentage of the account value Fee Waiver: No waiver. Fee is assessed to cover plan administration expenses and may be redetermined periodically. Prior year fund performance is reported net of prior year's Asset Based Plan Administration Fee in effect on 12/31/2013. Prior year's fee was 0.20%. Breakpoint: None Capped: No Asset Fee Amount: 0.04%, or 0.44% When the Fee Applies: Daily How the Fee is Computed: Percent of account value Fee Waiver: No waiver of Asset Fee. Asset Fee is based on assets in the plan and the funds selected. Different funds have a different Asset Fee. Asset Fee is in addition to internal fund expenses. Stated Asset Fee applies to current contract year beginning January 1 and may vary from prior year's asset fee. Fund performance is reported net of the prior year's Asset Fees in effect on 12/31/2013. Prior year's Asset Fee was 0.05%, or 0.45%. Breakpoint: Fee is modified annually based on total assets in the plan. Capped: No Exchange Fee Amount: 0 When the Fee Applies: At the time funds are withdrawn How the Fee is Computed: N/A Fee Waiver: If the fee is submitted hardcopy a $6 fee will apply. The fee is waived if exchange is processed by web or voice response unit. Fund performance is not reported net of this fee. Breakpoint: NA Capped: Yes Participant Recordkeeping Charge Amount: $4.00 When the Fee Applies: Annual Fee divided by 12 and billed quarterly How the Fee is Computed: Flat Dollar Amount Fee Waiver: None. Fund performance is not reported net of this fee. Breakpoint: Capped: Yes Or CalSTRS Administrative Fee Amount: 0.25% When the Fee Applies: Annually How the Fee is Computed: Percent of Annual Assets Fee Waiver: The 0.25% Administrative Fee is charged on a quarterly basis (0.0625% quarterly). Breakpoint: Capped: Yes Self Directed Brokerage Account Fee (Optional) Amount: $50.00 When the Fee Applies: Annually How the Fee is Computed: Flat Dollar Amount Fee Waiver: Breakpoint: Capped: Yes Fully managed account services provided by Voya Retirement Advisors (Optional) Amount: 0.65% When the Fee Applies: Annually How the Fee is Computed: Percent of Annual Assets Fee Waiver: This is an optional service offered for those individuals who prefer to hire a professional to manage their Pension2 account. If a participant decides to not partake in the fully managed account service option, there is no fees or charges for investment advice. Breakpoint: Capped: No Any help to decipher all of this would be great. Thanks for any and all help!
  3. I am in California. That is great news I will def look into that! So are you recomending I have a 403b through Calstrs pension 2 and also have a roth IRA open as well? Any adivce at which I should contribute more too? Thanks for all the help. Yeah I email the company that I got signed up for and they start going off on all of the benefits and what not, such a joke. Luckily I can pull my money out within 60 days of opening the account so I won't have to pay a fee or anything.
  4. I guess my question to you is how do I know if I have good choices? Vanguard isn't one of my availible choices but I have access to vanguard funds through some of my choices if that makes sense. I've combed over the compare403b and I think i'm to the point where its becoming obsessive. I am only astute as my instinct told me somethign wasn't right with the people I met in the lunch room, then I found 403b wise and boom. Spent a few hours reading up and now I at least feel like I'm starting to understand all of this lingo. Really a lot to take in and I don't understand why a district would give you so many choices, really makes it a headache trying to go through and find the best one.
  5. Interesting. My fiance and I have a foundation, been saving up for the past 5 years. We dont' have any debt. I have a Roth IRA through betterment with a 90% stock 10% bond diversification. .35% fee. My fiance and I are hoping to buy a house in a year to two years so that is where the bulk of our income is going to go. I just wanted to get started on a 403b because compounding returns, amiright! So from what I can tell you are not a fan of the Pre-tax accounts? How come? From what I have been reading you gain a lot by putting pretax dollars in. What do they say, by putting 100 bucks in it only takes 63 bucks off your paystub. I'm meeting with a retirement person from my credit union next friday to see what they offer. My plan is to start at depositing $100 a month and then up it once we get a house.
  6. I'm a first year teacher so everything is new to me. My Dad had been mentioning that I should look into starting a 403b to suppliment my pension when I retire. I was busy enough with being a new teacher that I didn't think about it. Then one day, there were sandwhiches in the lunch room and these people asking me when I wanted to retire. They said 403b and I thought, hey I need one of those. I scheduled a meeting and met with one of their reps. They started off by showing me where my pension would be by the year I retire and how to make up the difference with the income of a 403b. They talked about how the max I can put into a 403b is 18,000 and asked if I wanted to start puting in 1,800 a paycheck. They knew I was a first year teacher yet somhow they thought I could live off whatever was left after taking 1,800 out of my montly paycheck! Crazy. I say I can commit $100 to start and then go from there. They show me the return projection and something seemed off. Then I looked at what the projected return was and it was a crap 3%. Turns out it was an anuity. After having to email and call to get the thing cancled now I am trying to plan what to do next. I have so many options that my District allows but I'm not exactly sure where to start. I have a meeting with School's first credit union as they have a mutual fund option through nationwide. The fees are pretty low but I'm still a little lost. Features Portfolio Rebalancing Managed Account Services Managed Account Services .70% Asset Based Plan Administration Fee .21% Asset Fee .04% or, .44% Participant Recordkeeping Charge Annual fee flat $4.00 There are so many funding options. Not really sure what to do. I don't know if any of you have heard of reddit but they have a personal finance subreddit and this was the advice I was given in terms of how to diversify my mutual fund. For 403(b) funds, I would use: 54% US stocks:81% DFA U.S. Large Company Portfolio 0.08% (DFUSX ) 19% Vanguard Small Capitalization Growth Index Fund Investor Shares 0.24% (VISGX) 36% Nationwide International Index Fund Class A 0.7% (GIIAX) 10% Dodge & Cox Income Fund 0.43% (DODIX) Would appreciate any feedback!
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