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tlv107

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  1. I have been hearing that I should stay away from a 403(b) due to annuities. It has, however, been recommended that I set-up a 403(b)(7) plan which allows for mutual funds. Can I set-up 403(b)(7) plan by completing the reduction in pay form from my employer and have them send the amount of my deduction to the mutual fund I choose (i.e., Vanguard Retirment Fund)? Thanks again!!!!
  2. I appreciate everyones' responses, but I am still confused. So, if someone could please walk me through this scenario. First: I am looking to meet with a 403b vendor. Second: He/she will let me know what funds I can use to set-up my 403b. Third: If the fund is a low expense fund (i.e., Vanguard), then this would be a good fund for my 403b. Fourth: I have a voluntary withdraw form completed from my employer. Fifth: I start contributing each pay to the 403b. Is this a typical sequence in setting-up a 403b? Do I need a 403b vendor to set-up a 403b account? Can I use a discount broker? If I need the 403b vendor, how are they paid? Remember, I am new to all this. Thanks again!!!!
  3. Are approved 403b vendors capable of buying into a particular company (i.e., Vanguard and Fidelity) for us? Do we need such a vendor to set-up a 403b? And, how will a particular vendor make money from us? Thanks for all your help!!!!
  4. gadfly, The TSA vendors that are available are Emory Philips and Lincolcn Investments. Are approved vendors capable of buying into a particular company (i.e., Vanguard and Fidelity) for us? Do we need such a vendor? And, how will a particular vendor make money from us? Thanks again!!!
  5. We have no children yet--hopefully within the next year. I am 33 and my wife is 27. We both have a 403b at work, no match, and no 457. What is a 457? We are saving to build a house in 4 years (around $8,000 saved), recently paid off $15,000 in credit card debt, car will be paid off in June--that's about it. I came across a Fidelity Retirement Fund, FFFFX. It seemed pretty good (low fees and a positive return). Any thoughts on this one? Many Vanguard Retirement Funds seem to require a $1,000 minimum. Any thoughts on these diversified retirement funds? With our 403b, I was looking to find a Diversified Retirement Fund and have such a fund make up our 403b. Is this recommended? Thanks for your guidance Joe and gadfly!!!!!
  6. My wife and I are looking to start with a Roth IRA or a 403b. However, I am not sure which to start first. I make around $41,000/yr. and my wife makes around $40,000/yr. Just looking for opinions, I read the article on 403b. Also, in setting-up a 403b, I saw a retirement mutual fund with an initial minimum investment of $1,000, but we do not have that available. Is this amount a must before we can start investing in this particular fund? Lastly, with little to no money available for an initial minimum investment, does anyone know of any retirement funds with low/no minimums? Any recommended readings and/or web-sites? Thanks for your guidance!!! Rick
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