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SJP-3

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  1. SJP-3

    403-b

    I'm loving the feedback and can see the value in all sides. I've heard your suggestions and here's what I'm going to run by the Vanguard folks before the roll over: US Bond Fund Intermediate Term (VBILX) 45% US Stock Fund Total Stock Mark (VTSAX) 30% Small Cap Value (VSIAX) 15% International Stock Fund FTSE All World (VFWAX) 10% I agree with simplicity and fees matter too. This can probably be improve upon down the road but it beats the heck out of the 47 funds I have now. I feel much better with this array and I'm sure it will change over time but this is a good starting point. Thanks so much for your contributions. I'll post the fees TIAA is charging after September 7th, so others can see games they play.
  2. SJP-3

    403-b

    This would represent my total portfolio.
  3. SJP-3

    403-b

    Hey Folks, I've been looking at some funds to roll into and thought I'd share. I'm looking a 6 ( much better than 47). I well come any comments or insights. Bond Fund: Long-Treasury (VLGSX) Intermediate (VBILX) US Stock Funds: Large Cap Index (VLCAX) Mid Cap Growth (VMGMX) SMALL CP Value (VSIAX) GLOBEL: FTSE All world ex US (VFWAX)
  4. SJP-3

    403-b

    And I got a chance to see Steve on youtube!!!
  5. SJP-3

    403-b

    Yeah, thanks all. I'll be talking with Vanguard before I pull the trigger to make sure things are right. I'm looking at constructing the portfolio now and will have a clear idea before I make the move. I don't want to come this far and miss up. This has been really good. I've pass the site info to another group of folks in our age group with a heads up about TIAA.
  6. SJP-3

    403-b

    You know, I feel like I should contribute .03 to this site. who knows how much TIAA has hit me up for.
  7. SJP-3

    403-b

    Ed, I was not able to find the fund symbols looking at my account. They don't appear to be listed. While many of the funds were accumulated as result of working on several campuses, I've been asking for the last three years about the efficacy of having so many funds and was told repeatedly this was a good thing. "It provided more diversity". And when I asked about being charged fees on all the funds, I was told it was not excessive and was within an acceptable range (I know...acceptable to who?). This same line was repeated at my last meeting and only after a long conversation did the supervisor admit there was some duplication, still claiming that he held 30 funds. At one annual meeting two years ago, I was showed a list of the fees. Yet, at my last meeting the new guy was not able to provide a list. What prompted my request for a new advisor was a change in the attitude of the last advisor when I decline his offer to manage my account for a fee (I think it was .03% not 3%). I was told that was a very small amount. I believe the large number of funds and the fees accompanying each benefits TIAA. This was not the work of one advisor. I believe it to be systemic . My Meeting with the advisor on Sept. 7th will give me additional clarity. I really think I've been Played. Its not illegal just dishonest. I do have a question. Once the account is fully rolled over to Vanguard and rebalanced will it remain untaxed as it grows until I make a withdrawal? As of now the funds are not taxed until I take money out. I've been checking out lots of investment info on youtube and have a much better understanding. But still learning.
  8. SJP-3

    403-b

    Hey Tony, there is "0" opportunity for TIAA to change my mind. I want to see how much they have been ripping me off for and I want to post what I find so that other can see and learn from my experience. I won't be liquidating any of the 403-b funds, it will all go into the IRA. I may make a withdrawal before the transfer to ensure an easy transition (cash flow). That would take two days as I have done this before. Still lots to learn for this site and I'm on it. Many Thanks
  9. SJP-3

    403-b

    So here's the latest; this afternoon, I called Vanguard and created an account. That's Right, I have a Vanguard account. Once I submit the paperwork TIAA, I can let Vanguard bang on them to transfer the funds. I'm going to hold off on the roll over until Sept 7th to see what TIAA has to say about the fees I'm being charged and to hear their pitch about fees for managing my account going forward. I do have some concerns about TIAA holding up the transfer and what that might mean if I need cash as this process unfolds. I do take funds out of my account as needed. I'll be rolling over the account into a Vanguard IRA, not having the funds in the account mailed to me. But if I need cash as this process is happening and TIAA drags its feet transferring the account, it could cause a hardship. To avoid this possibility I may request some cash now, just in case. I don't expect a two day turn-a-round to complete the process. I'm thinking it might take weeks if I'm lucky. They are not going to want to make this transfer. I'm sure about that. Without the insights, support and information gained on the site, I would have continued to be taken advantage of by people that see their job as shaking us down. Its amazing. How did we get here. This is so hard for me to believe. Am I being naive? Anyway, many thanks to all and my learning will continue.
  10. SJP-3

    403-b

    OK, My eyes are open. Thanks so much to all. Ed, I really enjoyed your article. As you can imagine, I'm now reading everything. Where can I get Steve's book, whats the title? I'm also pissed. TIAA needs to be exposed or at least Educators need to be made aware that they are just salesman. Or maybe this has happen and I'm late to the party. I have questions about the administrative atmosphere at Vanguard. I can withdraw funds from TIAA and its in my bank account in two days. Is this similar at Vanguard? How easy was it to roll over funds from one company to another? How much time did it take? I'm going to do some more research but the dishonest at TIAA has turned me off and pissed me off. Great information folks, I'm still reading stuff.
  11. SJP-3

    403-b

    Ireally drank the kool aid on TIAA. I thought they were fellow educators and would look out for us. Its just another get what you can get company. On reflection, it feels like a car dealership operation. I'm so glad I found this site. Thanks again for all the help.
  12. SJP-3

    403-b

    Tony, its good to see that you woke up. I was getting concerned. I'm actually embarrassed by this situation. I had to think about the best way to copy and post all of these funds. Well here they are: 11.03% Total TIAA Traditional View interest rates Sub total Equities 76.43% TIAA Access International Equity Index Fund T1 TIAA Access-T. Rowe Price Institutional Large Cap Growth T1 TIAA-CREF Small-Cap Blend Index Fund - Retirement Class TIAA-CREF Quant Small-Cap Equity Institutional TIAA Access Quant Small-Cap Equity Fund T1 TIAA-CREF International Equity Fund - Retirement Class American Funds EuroPacific Growth Fund - R6 TIAA Access Real Estate Securities Fund T1 American Funds EuroPacific Growth R5 TIAA Access Social Choice Equity Fund T1 TIAA-CREF Large-Cap Value Index Fund - Institutional Class TIAA-CREF Real Estate Securities Fund - Institutional Class TIAA-CREF Quant Small-Cap Equity Retirement TIAA-CREF International Opportunities Fund - Retirement Cl CREF Global Equities R2 TIAA Access Large-Cap Value Index Fund T1 American Funds Washington Mutual Investors Fund R6 TIAA Access Vanguard Selected Value T1 Vanguard 500 Index Fund Admiral CREF Equity Index R2 TIAA-CREF Emerging Markets Equity Fund - Retirement Class Vanguard Extended Market Index Fund Institutional TIAA Access Vanguard Small-Cap Value Index T1 TIAA-CREF Social Choice Equity Fund - Retirement Class TIAA-CREF International Equity Index Fund - Retirement Class TIAA-CREF Real Estate Securities Fund - Retirement Class Vanguard Small-Cap Index Fund Institutional TIAA Access-American Funds Euro Pacific Growth T1 TIAA-CREF International Equity Index Fund - Instl Class TIAA-CREF Large-Cap Growth Index Fund - Retirement Class TIAA-CREF Large-Cap Value Index Fund - Retirement Class TIAA-CREF Emerging Markets Equity Index Fund - Retirement Cl CREF Stock R1 Vanguard Institutional Index Fund Institutional MFS International Value Fund Class R6 Carillon Eagle Mid Cap Growth R6 CREF Stock R2 TIAA-CREF S&P 500 Index Fund - Retirement Class Vanguard Total International Stock Index Fund Admiral CREF Stock R3 TIAA Access S&P 500 Index Fund T1 TIAA Access Emerging Markets Equity T1 TIAA Access DFA Emerging Markets Portfolio T1 Sub total Real Estate 8.02% TIAA Real Estate Sub total Fixed Income 4.51% TIAA-CREF Social Choice Bond Fund - Retirement Class CREF Bond Market R2 Sub total
  13. SJP-3

    403-b

    Hey Folks, so let me say that I value the information and guidance shared from all and I plan on acting on it. The gift of this site is too good to wast. I will absolutely listen to the information offered on this site. That's why I'm here. And for clarity, I have 43 different equity funds, 1 guaranteed TIAA fund and 1 real estate TIAA fund and 2 fixed TIAA income funds, all of these are in the one TIAA account. This happen due to my work on six different campuses. The advisor was not able to give me information on the fees. He had another person sit in on the session, his supervisor. After some debate they agreed that 47 different funds maybe too many (you think?!?). The supervisor said he had 30. I will get a breakout of fees on September 7th and some suggestions about consolidating the funds. The supervisor said there was some duplication. This is very sad, (Ed I think you are right), I think they want to sale me an opportunity to have my account managed for a fee. They put it out there but don't go too far down that rabbit hole. I actually feel sad about this. Its like the whole world is trying to take or sale. Anyway, I'm not buying and will not let them manage my account for a fee. I'll see what they are talking about but i'm really considering rolling over to a different company or stay there and managing the funds myself. The Folks here that shared their experience and information on this site seem to due so to help and its much appreciated. Tony I do hope you wake up as I need your wisdom going forward. Wow, what an experience. TheTIAA account will let me self manage. but I don't like the duplicity. If I stay with them I will need to make the right moves without assistance from them (the advisor). So I need to research whats best (do I stay or do I go). Looking forward to any insights, To be continued.
  14. SJP-3

    403-b

    Amendment: Sorry I should have typed custom portfolio. Something he would've put together.
  15. SJP-3

    403-b

    Hey Folks, thanks so much for your replies. I feel there's much to learn. I have 47 accounts, 76% equities, 10% guaranteed, 7% real estate, 4% fixed. This is the result of 30 years in Higher Ed. I'm retired and don't want to give up a bird in the hand for the several in the bush. So leaving TIAA and doing the investing on my own seems scary and other than the question of fees I not sure of what is the concern with TIAA. How dose TIAA compare with other companies on returns. I noticed that some of the accounts in my portfolio are Vanguard while still in TIAA. I don't seem to be able to view fees on line or maybe I lack the skill set to find them. I will get a clearer picture of fees later today when I meet with the advisor. This is my second advisor. I asked for a change because I felt a change in attitude from the first advisor after I declined his offer for a customer portfolio at 3%. This is what started my search for more information. Thanks again to all and I'll post an update on fees later.
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