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Mooney_Lupin

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  1. Okay, so I'm back with another question. 😀 One factor that keeps popping up in my head is the fact that I can't rollover my 403b to the 457b. I have approx. 40k with AXA and I hate to lose that jumping off point as I know it can make a big difference in 20+ years. I've been so caught up with the 457 that I didn't really think about how my SC Deferred Comp program also offers a 401k option. I would assume the 403b would rollover into that. If I could get the rollover with a 401k, would that be the better route? The investment options previously discussed look to be the same whether or not I choose the 401k or 457b. It's just a matter of what I start out with... $40k or $0. Thanks again for your help and guidance!
  2. Thanks so much for all the help! I have a lot to think about and this whole process has been very enlightening. My poor wife is tired of hearing about retirement plans, but I keep reminding her how much she'll appreciate it when she's 60+. Her 403b is with another district and it's via TIAA. That's ultimately how I figured out something was wrong. Hers is rocking and mine is sinking. I'll keep you guys posted on the outcome, but I feel so much better about my financial future as I move toward the 457. Please keep up the great work and keep fighting the good fight.
  3. I'm waiting to hear back, but my school district's website has a link to the State's 457 plans linked above and indicates it's an option for us as employees. All signs point to the fact that I am eligible.
  4. I'm back with a couple more questions. Looking at the enrollment form, it appears that I can mix and match things. Is this correct? If so, how would that work if one percentage is with Fidelity and another is with TIAA, etc.? Are these lumped together in one big fund not directly controlled by TIAA, Fidelity, etc? Would I end up paying more in fees this way? I'm not opposed to a timed/target fund, but I do like the idea of choosing and piecing together my own investments. Since I'm pretty new to all of this and considering I'm almost 40, what would be the ideal build if you pieced together these various funds? I do realize that I would need to adjust these percentages over time as I get closer to retirement. Hopefully I'm understanding this enough and my questions make sense. Thanks again for all of your help!
  5. Thanks for the info and assurance regarding these new investment opportunities. I was curious about the 403b rolling into the 457b. I am with the same school district that I began my 403b with. The IRS rollover chart indicates that a rollover is possible, but with the caveat that they "must have separate accounts." Does that refer to what you mention above about previous employer? Please understand that I'm not challenging your expertise, just looking for some clarification on what you said vs the IRS chart. It will be a bummer if I can't roll over, but in the long run it's better to switch.
  6. Thanks for all the help with finding the best way to move from the 403b. It does look like I qualify for a 457b. Here's the main page from my state (employer) and what they offer. https://southcarolinadcp.empower-retirement.com/participant/#/login Here's a breakdown of the plans being offered - https://southcarolinadcp.empower-retirement.com/participant/#/articles/SouthCarolina/investmentInformation Finally, here's a performance chart for the various plans - https://docs.retirementpartner.com/ioag/98955-02_IOAG.pdf It's a lot to choose from, but I'm glad to see some of the companies recommended here. Given the choices, I'm leaning toward the Large Cap Vanguard account (fees look low with pretty good returns). I'm kind of lost, so I would appreciate thoughts on what's offered above. Hopefully you guys know something or will see something in the various plans that I'm missing. Thanks again for your help and guidance!
  7. Thanks for your response, Ed. It's unclear if I have access to a 457. The webpage linked above mentions the 457, but then the list of companies specifically says "403b." I'll reach out to my district office and see what I can find out. The 457 sounds like the better option for sure. If that fails I will look into the Traditional Roth route. Of course it's ultimately my fault for being so uneducated on these things, but you would think a district would work harder to provide its employees with education on these topics and access to better financial options. I didn't even know there was such a thing as a 457 until you mentioned it. Thanks for your help and guidance!
  8. I currently have a 403b account with AXA via my school district. Your site has helped me realize that I am paying for one of the more expensive annuities out there! Yikes! I've had the 403b account for about 15 years and I've seen very little growth beyond my own contributions (I feel like it's nothing more than a money market account!). Now that I'm almost 40, I am really beginning to look more closely at my retirement account options. I was wondering, given my choices, which company would offer me the cheapest option with "best" returns (i.e. mutual funds). Here's a link to the providers my district offers - https://www.tsacg.com/individual/plan-sponsor/south-carolina/greenville-county-school-district/ Any advice would be appreciated. If none of these companies are any better, do you recommend stopping payments to the 403b and opening a Roth IRA with Vanguard or another reputable company? Thanks for your help and guidance! I'm grateful for your site and resources. They have been very eye opening!
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