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jebjebitz

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  1. I started getting serious about looking into my 403b after someone anonymously placed a copy of the NYT article in everyone’s mailbox. I doubt they cleared that with the office though. Since then, I’ve tried to send out information about the only self direct options available to staff members through email. The email was flagged by our district’s BA and she prevented it from going out. My only option now is to use our union website and post info there.
  2. Article on pension reform Act 5 found here may have some answers Krow: https://www.pennlive.com/opinion/2019/01/tax-proponents-biting-the-carbon-that-feeds-them-opinion.html
  3. Hi Debo, Does your district list Vanguard as an option to use for your 403b?
  4. Hi Matt, i would call and stay on top of them. You might have to call more than once. I think your main focus should be getting that account active and getting access to the online platform. I signed up using the Docusign online application and waited a long time before I had an established DirectInvest account. In contrast, I helped someone at work set up an account and they were good to go in just one week. Good luck. Let us know how it goes
  5. This sounds like total BS! Not sure why the TPA would say this.
  6. I’ve had accounts with both Lincoln’s PDP and Security Benefit’s DirectInvest. Security Benefit’s online platform is superior. Lincoln’s, at least when I used it two years ago, was very limited. Security Benefit waves the $35 annual fee for accounts over $50,000. Lincoln does not waive the fee. Lincolns fund selection is superior. They have a huge assortment of Vanguard Funds including Target Date Funds. If anyone would like a list of the fund selection I can supply a copy.
  7. If your district has Lincoln Investment, as a NJ teacher, you will have access to the PDP. If it is Lincoln Investment, call this number: 215-886-7695. They will send you the paperwork to start the account
  8. Not looking to debate interested in the data though
  9. I like this advice. There’s a year to date return number of -7.16% at the top of the page when I log into Security Benefit but, I don’t think that’s what you guys are talking about. I rebalanced a bunch of times and messed around with asset allocation and what I thought was tilting to Small Cap and REITS. In the end I learned that this just confused me and made me nervous about my investments. My goal is to keep it simple and rebalance a few times a year.
  10. I don’t know how to figure out my return for the year. Any suggestions? My portfolio balance is 80/20 Total Stock:VTSAX - 50 Total International VTIAX - 30 Total Bond VBILX - 20
  11. Good point. I don’t know what his investments are, how long he’s had them with AXA or how much. I personally paid a surrender fee to leave AXA even though I had an account with them for ten years. Their surrender charges never seem to go away. Although, looking back, I’m glad I got it all out at once. I think it ended up being a little over a grand in surrender fees but, I was free from AXA, my money went to low cost index funds and I only had to go through the frustrating transfer process once. It’s what I tell myself to feel better about giving up the grand anyway.
  12. Thanks Tony. I think this was the main question I was aiming for. Specifically, can he have two 403b accounts, Roth and Traditional, at the same time. You definitely answered this. His next step would be to create a Tradional 403b with DirectInvest and then transfer his AXA funds to this to avoid getting hit with taxes. I recently went through the transfer process and agree that it is slow moving and frustrating. Luckily, he will be contributing to the Roth while that process takes place.
  13. A colleague of mine recently opened a Roth 403b using DirectInvest through Security Benefit. The account is open and he made appropriate changes to have payroll deductions go to this new account. His original 403b is with AXA and he has funds there ina Traditional account. It is assumed that he can’t roll that into the new Roth without being taxed. The value is somewhere around 50,000 and he would like to avoid getting hit with taxes on this. Question: What are his options for getting that money out of AXA and into a self directed low cost option? Are you allowed to open a Roth and Traditional at Security Benefit at the same time? I looked at a 457 option but it looks like you are not allowed to transfer from 403b to 457 while still employed with same employer.
  14. jebjebitz

    Perspective

    Excellent review here. In fact, if you don’t have the time to devote to this short book, this review sums it up nicely. However, if you skip the book you’d miss out on Clements writing style which I find very appealing. There’s a lot of great information and Clements provides it in a way that rarely goes over my head. In fact, somewhere in the introduction he mentions that he wrote it with his children in mind who were entering the workforce.
  15. jebjebitz

    Perspective

    I’m halfway through “The Little Book of Main Street Money” and I highly recommend it. I wish I had read it when I started teaching. I’ve also subscribed to the Humble Dollar blog. Thanks Tony
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