I am a new school hire (but a previous public school employee). I have an old pension plan from the schools that started in 1989 that I will continue contributing to. I also have a ROTH IRA and personal investments through Vanguard.
I need to figure out the best funds to put my 403(b) into. It will amount to about $6500/year but is starting from scratch. The management company charges 0.50% plus any expense ratios from the funds I chose. No other annual fees, etc. They offer quite a few Vanguard funds to chose from including Target retirement funds, VTIAX, VTSAX, VBLTX, VFIAX, and many others. They also offer some actively managed funds.
How do you chose the best ones? Since I have other retirement savings, I do have the ability to take on a bit more risk but yet I will be accessing the funds starting in 15-20 years.
What % of stocks vs. bonds should I look for? Is it better to "do it yourself" with the much lower expense ratios of the individual funds, or just pick a higher expense ratio of a 2035 or 2040 target fund?
I will be fulling funding my ROTH IRA as well and there are other reasons why I need to put the money into a 403(b) for now vs. other investments. I just need some guidance on the best funds to look for.