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Edd

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Everything posted by Edd

  1. Hello. I have posted more in the past than recently. Much to do with my time. This site should be viewed by anyone who has a 403b or a 457b. Great place to learn. Ask questions so you can expand your understanding. This is always, in my opinion, better than going to an "advisor" who looks for the commision products to help HIM out. Come, read, ask, learn, be a better investor for your future well-being. This site has much to offer. In my opinion--this site helped me develop my opinion over the past 10 years or so--keep costs low, make the 1(800) phone calls yourself, come here to read and learn FOR FREE, expand your horizons, and save big for your benefit. Edd/Edy
  2. Hello. I have not been on in a while. I really do not know what my YTD is, as I am in several mutual funds and actively contributing--Fidelity, CalStrsPension2 with some still in TRP, Vanguard, and TiaaCrf. Just haven't moved it and most is way over in stock very light in bonds. As always, tout the no loads/lowest fees, no annuities. I have read of the impending correction, etc. and ignore it. I am heavy stock, light on bonds, again, not fully following it. I know I should have more bonds given my age, but I, like Steve, weathered the two big drops, and will survive this correction, or recession if it turns to that. In short, I am not panicking or changing my plan. Eventually, I will shift to more bonds as my age increases and move closer to retirement. I am off, by recommended standards, but am DCA and will continue. No great worries--it will come back and as always long term, will go up. Edd
  3. Edd

    Rmd Strategy

    Hello. In my case, I do not expect to still be working in my 60s, rather living on my teacher pension, will will drop my final salary to about 75% of what it was. Age, I suppose, does not have anything with the ability to pay taxes. However, if there is need to work a bit to pay some annual tax in this strategy, I would be prefer to work at 65 rather than 75, for example. Other than that, I do no know why paying younger would be better than paying older. Thanks, Edd
  4. Edd

    Rmd Strategy

    Hello. I recently read of this strategy and would like your opinion. I have not heard it before, has anyone else or do you know of anyone who has tried it? The suggested strategy is to take out large portions of the 403b/IRA/401K during your 60s prior to being required. Perhaps over 8 years not in one move. Of course, pay the tax accordingly each year. Put the money each year into a highly tax efficient fund/s such as ETFs and recreate a well balanced portfolio. The idea is basically that the taxes will be easier to pay the younger one is rather than post 70. Has anyone heard of this or do you know of anyone doing this? Thanks, Edd
  5. Yes, I understood, totally, your caveat. Edd
  6. Thank you, Joel. So from your thinking, I as a teacher retiring in 5-8 years with a state teacher pension, should save only equities in my 403b and 457 plans? You post frequently and seem knowledgeable, so your opinion would be appreciated. I have always felt that I might be uncomfortable in 2030, for example, at losing a large portion in a big bubble recession (2000, 2008). Over the long run, the equity portion should come back, of course. For my wife and I, our teacher pensions will be the main retirement funding that we will have, and the 403b is more icing on the cake--which I want to see survive, and not have to rebuild every 8 years or so. No one can predict the future, understood. Just planning and curious as to others thoughts and strategies. My retired friend has a very different view from what Tony described above. Thanks, Edd
  7. Edd

    403Byes-Or-No?

    Tony, I am curious as to your asset allocation within your strategy. Can you share what you have in the each--deferred, taxable, Roth? Not amounts, of course, simply what funds you put into each. International, domestic, bonds, reits, etc. Thanks, Edd
  8. Joel, what do you think for the retiree who does have a pension? Should that serve as the "bond--conservative" portion and then go with a 100% equity portion? Edd
  9. Tony, what is your percentage strategy for bonds versus the stock portion of your 403b/457? Have you been adjusting according to your age and retirement year? I am looking at my own strategy, hence my question on your strategy. Over the years since I began the 403b, I have much overweighted my stock portion and as I approach my retirement age, about 5-8 years, I have been increasing my bond portion. Then, when I read an author explain that stocks always come back and with less need for bonds in a retirement account--and think about my now retired teacher friend, I wonder how much in bonds I should actually have. Thanks, Edd
  10. Edd

    403Byes-Or-No?

    Interesting, Tony. I will ponder your strategy. I am simply asking what others are thinking/doing with regards to saving in tax deferred vehicle or in something else. The tax impact in retirement is the issue, and would like to not be overburdened by taxes when retired. I have long been a believer in the idea that now I can work more now or longer if necessary, but when I am 72, for example, I do not want to have to fret over needing more income (from work) if taxes eat up more than I have planned for. Of course, in that case, living more frugally will be top priority as well. Thanks, Edd
  11. Edd

    403Byes-Or-No?

    Hello. I am looking at the Roth option. I had a Roth 403b previously, but as has happened so many times, that option was dropped off our list some years back. When I posted the question, I was only thinking on the taxable account question and not the Roth. When you mentioned the Roth 403b, I will look at that. Of course, we are limited to the options available to us, while the taxable account can hold any stock or mutual fund. My question was regarding the most tax efficient route to living out the retirement years. In looking at 403bcompare, I do not see which can be Roth and which cannot, or perhaps they all can. I called the TPA and he did not know, he just told me to call the mutual fund company. So, at this point, I am considering both and will continue to look into the Roth 403b options. I am getting closer to retirement, 5-8 years, and am studying the issues more closely, and am still trying to accumulate as much as I can before I go out. Edd
  12. Hello. I have read of this strategy by financial authors over the years. One of my teacher colleagues buys into it completely and I have never been sure which way to go. As a teacher in CA, I will have a pension when I retire. My friend, and those authors, say that the pension serves as the "conservative" protion of the portfolio, and thus the saved portion in the 403b should be the riskier stock portion. That is, in the 403b, my now retired teacher friend, and perhaps my portfolio, is 100% diversified stock funds with 0% in "conservative" bond allocation. My friend, and the authors, say to simply sell some shares when money is needed. When the tech bubble burst, my friend's portfolio dropped quite a bit, but then came back nicely. The same as with the 2008 bubble burst. Stay in, and the stock portion always comes back--and the pension will continue plugging away. I am still accumulating and will not retire for 6-8 years. When I do retire, my 34 years in the California STRS system will provide for the pension. I have always thought I should have some bond action, but regularly think that my friend, as a teacher with a pension, has the right formula Any thoughts? Thanks, Edd
  13. Edd

    403Byes-Or-No?

    Hi. I contribute to the 403b that we have available. I do not know which of the options also offer the Roth. I had not thought of that, but will now call them and ask. I spoke with the TPA yesterday and he was not sure, so I will have to call myself. Edd
  14. Edd

    403Byes-Or-No?

    I am not sure what our options are. If they are good, then that would be a possibility. If the options stink, however, I am back to the same question as my original. Edd
  15. Edd

    403Byes-Or-No?

    Hello. Forgive me if this topic has been discussed previously. I am a teacher in California, will have the state pension for teachers, and currently save some in the 403b that is available to me. Does anyone think that saving in a taxable account in a low turnover fund such as an index fund or some other low turnover fund is a better idea than the tax deferred saving in the 403b? I have long thought about this in my planning/saving phase. Now it is tax deferred but I will pay full income tax rate upon taking it out, or save now after tax and then pull as a capital gains which is taxed at a much lower rate than what I expect to pay in retirement with my pension and pulling from the 403b. Our AGI is currently too high for a RothIRA. The tax savings when I am retired seems like a good idea given that we will live on what we have and want to keep expenses, taxes etc., at that time as low as possible. I see being able to afford it now as better than when I am old living on less. Any thoughts would be appreciated. Thanks, Edd
  16. Edd

    Valic-Tiaacref

    Good morning, Steve. Yes, I and always will direct my colleagues, and anyone else who will listen, to go with a TC or Fido type rather than with a shark who sells a commission. ALWAYS! I did not care for my friend's sentiment attached to his frustration about the cost and service, because I do not believe that is the case with VALIC vs TC (Fido, VG, etc.) I simply was looking for any insight to share with him--ie--the building burned down and they are behind business temporarily, their computers crashed for some reason etc. I still and will continue to believe in TC and never in VALIC. He is there and I never will be. I hope he gets his wife's situation fixed. Joel Frank, I will share your recommendation with my friend. Obviously, I will not be calling TC on their behalf with their SS# or their account#. I have been here before and he has not so I offered to ask the question here in case anyone had any insight as to what was going on. ***I will continue pushing low cost firms and never the high cost outfits. TC, Fidelity, CalSTRSP2, etc.Yes--VALIC etc. no. Have a wonderful day. Edd Now that you and your friend realize we have no definitive answer ("insight") for his wife waiting 3 months for her money, what will be his next step in getting his wife's money out of the 403(b) with T/C? Hello. I spoke with him this morning and told him that you suggested that he call to the corporate headquarters and speak with someone to try and find out. I also suggested that he come to this site and read about my inquiry on his behalf. I hope he gets it worked out,(he is frustrated), because as I have previously stated, I like TC and plan to continue using them and the others I use. Edd Has your friend and or his wife come to this site to at least read what I have posted? Do they want to keep us abreast of their issue? Joel Hello. I will ask him how it is going on Monday with getting their funds. I did suggest that he come to the site to read several days ago and even post if he wants, but I have not seen him recently. Edd
  17. Edd

    Valic-Tiaacref

    Good morning, Steve. Yes, I and always will direct my colleagues, and anyone else who will listen, to go with a TC or Fido type rather than with a shark who sells a commission. ALWAYS! I did not care for my friend's sentiment attached to his frustration about the cost and service, because I do not believe that is the case with VALIC vs TC (Fido, VG, etc.) I simply was looking for any insight to share with him--ie--the building burned down and they are behind business temporarily, their computers crashed for some reason etc. I still and will continue to believe in TC and never in VALIC. He is there and I never will be. I hope he gets his wife's situation fixed. Joel Frank, I will share your recommendation with my friend. Obviously, I will not be calling TC on their behalf with their SS# or their account#. I have been here before and he has not so I offered to ask the question here in case anyone had any insight as to what was going on. ***I will continue pushing low cost firms and never the high cost outfits. TC, Fidelity, CalSTRSP2, etc.Yes--VALIC etc. no. Have a wonderful day. Edd Now that you and your friend realize we have no definitive answer ("insight") for his wife waiting 3 months for her money, what will be his next step in getting his wife's money out of the 403(b) with T/C? Hello. I spoke with him this morning and told him that you suggested that he call to the corporate headquarters and speak with someone to try and find out. I also suggested that he come to this site and read about my inquiry on his behalf. I hope he gets it worked out,(he is frustrated), because as I have previously stated, I like TC and plan to continue using them and the others I use. Edd
  18. Edd

    Valic-Tiaacref

    Good morning, Steve. Yes, I and always will direct my colleagues, and anyone else who will listen, to go with a TC or Fido type rather than with a shark who sells a commission. ALWAYS! I did not care for my friend's sentiment attached to his frustration about the cost and service, because I do not believe that is the case with VALIC vs TC (Fido, VG, etc.) I simply was looking for any insight to share with him--ie--the building burned down and they are behind business temporarily, their computers crashed for some reason etc. I still and will continue to believe in TC and never in VALIC. He is there and I never will be. I hope he gets his wife's situation fixed. Joel Frank, I will share your recommendation with my friend. Obviously, I will not be calling TC on their behalf with their SS# or their account#. I have been here before and he has not so I offered to ask the question here in case anyone had any insight as to what was going on. ***I will continue pushing low cost firms and never the high cost outfits. TC, Fidelity, CalSTRSP2, etc.Yes--VALIC etc. no. Have a wonderful day. Edd
  19. Edd

    Valic-Tiaacref

    Hello. Yes I meant to post and did not do it correctly, my apologies. I am a public school teacher along with my friend and his now retired wife. I asked a simple question on his behalf. I do not troll and I do not work for anyone other than the public school district. The responses to my inquiry were quite interesting to say the least. I cannot stand outfits like VALIC or any other that charge high fees. I have Fidelity, TC, and CalSTRS Pension 2 and am very pleased with them. These are the same that I recommend. I talk up low cost, high quality investments whenever I can. I refer people to this site whenever I can. The friend I referenced asked me once how I knew so much about 403bs and I told him that I read to learn and will not go with a high fee outfit that is run by a "shark". My friend came to me in a meeting recently to vent about his frustration with not getting thru to the high quality comapany that I tout. He finished with the comment about the cost/quality issue and I was befuddled. So I said I would send in a question to see if anyone on this site had any insight as to why TC was not responsive to his situation. I could not understand it because I think they are a great company--universes better than the VALICs of the world. Hence, no trolling, no suspiciousness, no sleaze. Only strong belief in high quality, low cost investment choices--TC, Vanguard, Fidelity, TRowePrice, etc. As always, no need for groin kicking. Yes, he can write in questions next time, but he seems not to frequent this site. Oh well. Toodles, Edd/Edy
  20. Edd

    Valic-Tiaacref

    Hello. The wife of a friend (both teachers in CA) recently retired. She has a 403b with CalSTRS Pension2 which is managed by Tiaa-Cref. She also has some money with VALIC. When she called VALIC to take some money, they were very responsive and she received her money in 3 weeks. When she called TC, the first call was in early May. She has called a total of 6 times to date. She has still not received any of her 403b money from this account. The husband, my coworker, is disgusted and ready to dump all his TC money into VALIC and only go with "highly responsive" VALIC going forward. His last comment to me on this today was that this is a case of getting what you pay for--high fees/better service, low fees/terrible service. I have TC and hope I do not have this problem when I go out to pasture. Is this normal for TC? Thanks, Edd
  21. Edd

    Erisa

    Joel, thank you. Edd
  22. Edd

    Erisa

    Hello. I am not sure I even fully understand ERISA but here is my question. It was my understanding that public school districts were under ERISA guidelines. 1. Is this correct? 2. Can one public school district be under ERISA and another not be under ERISA? Anyone with a clear understanding, please clarify. Thank you much. Edd
  23. Edd

    Starting A 457

    Hi Scotty. Yes, I am in San Bernardino County. Why do you ask? Is there something you know that I do not, or am I misunderstanding something? Edd
  24. You might also consider T Rowe Price and/or Dodge and Cox. These companies are also highly respected with low cost high quality mutual funds. Edd
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