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Everything posted by Bashdash

  1. There is a pretty good thread on this board that gives more details. I estimate I've saved more than 20k in fees alone since I switched to direct invest from Voya.
  2. Go with Direct Invest. Just avoid advisor at all costs. Internet only and couple phone calls to set up. After set up, the website is great, automatic rebalance, and best of all nobody bothers me.
  3. I have the same Direct Invest option as you and it's great. I'm 5 years older and have it set up to 60/40 and it rebalances on my birthday. ( Great feature direct invest!). I couldn't decide on a allocation so I went with 60/40 figuring I could be doing MUCH worse in a hideous high fee 403b. I don't mess with small cap in fact I barely pay attention to the account at all and try myself busy with other things :). Have a pension too and am planning on using my roth 403b and 457 in around 5-6 years because I m thinking with two pensions (wife) that our retirement tax bracket could be similar to our working tax bracket.
  4. 457! Much more flexibility. I joke they should change the name of this website!
  5. Steve, I love reading your updates. You helped me develop my amazingly simple plan. While working we will be 60/40. When retired we change to 40/60. From your posts I know even 40/60 can provide nice results. All while keeping costs low. Hopefully all while trying to enjoy life and blocking all noise out.
  6. I'm probably the only one in a HUGE district who uses direct invest. I had no issues signing up at all either. Go for it.
  7. NEA Security Benefit has a "direct invest" option. There are many posts about it on this board. It is DIY. Do not call a salesperson and ask about it. Good chance they will act like it doesn't exist. I use it and it is great.
  8. Bashdash


    I believe I did read about catch up contributions while employed. ( Not the over 50 type)....
  9. Great responses. Find it very ironic to get help for this you have to go to anonymous strangers on the internet! Thanks Krow for helping many years ago save me thousands in fees!
  10. I would start by simply emailing personnel. Might be easier than you think?
  11. Go to omni403b.com and put your district in. Check to see if they are the administrator of your 403b and 457. The NY 457 is the best plan yet it is like a little secret that I doubt any of your colleagues even know exist. Super easy to set up too.
  12. Steve, I agree with you I bet I may be only enrollee in my huge district I am in. Same with the amazing state run 457 plan. Without krow36 I wouldn't have ever known. Yes, an anonymous helper saved my retirement!
  13. I enrolled a few years ago and had no problems at all. Couple calls and a little paperwork and it went through no prob. Website is great too. I have it rebalancing my allocation for me automatically on my birthday.
  14. What state are you in? Those choices look poor. Some states have a 457 plan available that few teachers even know exist.
  15. Maybe that will help avoid some wrap fees, advisor fees, asset under management fees, or other ridiculousness.
  16. I see "self directed" on the bottom. That is a good sign usually in this non transparent 403b world. Others will come along and chime in with more info.
  17. You mentioned Security Benefit. Why not just transfer to their amazing "direct invest" plan. Don't ask your advisor just call their customer service and they will help you. I use it and love it. Gives me access to cheap vanguard funds. With aspire be careful to use the self direct option. At my school if you don't you get set up with a Edward jones advisor!!!
  18. I use the security benefit direct invest. I found customer service to be no problem at all. Handled everything perfectly. If you ask a security benefit rep/"advisor" then I think you may get a blank stare of confusion about the direct invest. Website is great too. Set it up to rebalance automatically on my birthday as an annual celebration of low fees. I am hoping to lose the password over the years so years as a way of staying the course :). Just check out Ed's website it walks you through everything.
  19. A concern of mine with helping someone set up a self direct account is once the market starts taking and they start placing blame. Index funds of course go down too. Maybe with a professional this wouldn't happen they might think? Too risky to help someone set up an account. There has to be SOME desire to read, learn and ask questions before self directing. I would say it might be slightly uncomfortable when a 2008 occurs and everyone comes running back to complain about their "low fee" index funds. ( they wouldn't know that their "high fee" funds would have done just as bad)
  20. Kind of fun charging this brokerage a roughly 1% AUM fee
  21. Vanguard will not offer a bonus and I am happy that they won’t ?
  22. Just wanted to say a quick thank you to all on this board and the plethora of amazing info. Quick tip for new retirees: If you move your 403b to an IRA at fidelity or one of the other many brokers make sure you take advantage of any bonus offers. Probably can get a quick thousand depending on the size. Of course make sure low cost index funds are available first. Quick tip of those with a taxable brokerage account. I first moved my taxable account to a brokerage who happily paid me 600$ to have my money. ( not a big account by the way). Better yet, in around five months after I had the money there in which was required I then called up and asked them for paperwork to switch to another brokerage. I really didn’t have plans to do so. Next thing I know they offer me a 400 retention offer to stay another six months. I was very nice throughout the whole process and even said I have been happy with the service I have been receiving but could not resist an offer my sister had emailed me from another brokerage. This phone call took ten minutes. Fast forward another six months and I do the exact same thing. The rep says they probably won’t be able to help me this time and puts me on hold. Comes back on and offers me another 400$. This is account just has me invested in VTI and I pay no other fees or commissions. Doubt this will put a dent into the huge amount of fees I paid as a new teacher to the sharks. Thought this might some of the kind folks on this board. I do have a vanguard Roth IRA which I won’t mess with regardless of any offers. Those with existing IRAs at fidelity or anywhere other than vanguard should be consistently asking for retention offers.
  23. Which do you want your legacy to be? 403b annuity salesmen:. Thank you for signing me up in the beginning of my career to an inappropriate insurance product. Yes this was my fault too but I do appreciate you clearly disclosing the fees associated for my account and their long term impact on me. Most of the extra work i did outside of the classroom went straight to your fees. I helped fund part of your retirement. Krow36: Thank you for anonymously opening my eyes to the high fees my account was generating. Thank you for teaching me what a expense ratio, 12b-1 fee, management fee, mortality fee, and others. Also thank you for teaching about asset allocation and how to create one that fit my family's risk tolerance. Thank you for spending hours checking my many questions even when they were very novice questions. All while my friendly salesmen was dodging my questions once I smelled a skunk. My salesmen was not responding yet krow36 who doesn't even know me is clearly and concisely answering all questions patiently.
  24. Good point. Only difference is if a car salesmen sells you a lemon he doesn't get 2% every year.
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