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  1. Exactly what I was thinking. I was spurred on again by my mother, an 18+ year veteran of LAUSD who set up some TSAs a long time ago, and has no idea what they are, where they are, what they are worth, etc. The son of a friend visited her a few weekends ago and tried to talk her into cashing them all out and investing the money (after a few *minor* penalties and fees) with his firm. Something didn't smell right, and things I had read here and on other boards told me that it was a bad idea, so that is what I told her. So now she's asking me what to do with her TSAs, and, well, here I am again. Looks like I have a lot of reading to do. Again, thanks for the help.
  2. sschullo, et al, Thank you all for your help. Sorry it took me so long to reply and thank you. I got sidetracked and, well, you all know how that goes. jyork, Yes, we are in the middle of debt snowballing as we speak. Great advice, and we hope to be debt free soon. Once we are free of those shackles, then we'll begin saving for retirement. Again, thank you all for the great advice. I hope to become a regular here.
  3. Steve and Walthomc, thank you both for your replies. Just to provide some background info. I'm 31, the wife is 28. We haven't really discussed what our retirement plans will be just yet, so I figured we better start thinking about it soon. Essentially, we both want to retire in our late fifties, if possible. By then, both daughters (7 & 2) *should* be done with undergrad and post-grad. I've set up an appointment for next week with OCTFCU to discuss the options they offer. So far I've figured out to look for items with low/no fees, and stay away from insurance investments. What else should I be looking for or asking about when talking with these people? Again, thanks for your help, and I'll continue doing my homework.
  4. Hello, I just have a few general questions. My wife and I just began our careers at two separate school districts, both offering pension and 403b and 457b. In doing some research, it appears that the 457b is preferable to the 403b. My district (LAUSD) goes through Valic, and in reading other posts, I've surmised that the Vanguard Extended Market Index suggested by "sschullo" would be the way to go. My wife's district allows for a variety of vendors, and in doing research, I've found that OCTFCU charges no fees for members. Basically, I just wanted to get some input to determine if I'm heading down the correct path or not. I was thinking about starting each of us off with $500/month into the individual 457b's (as well as $500/month each of us into a 529 for our daughters). With our new jobs, we've tripled our income and I don't want to get used to spending that much before we put aside some of it for retirement and college (I used to work as a financial aid counselor and met too many families in that situation). Any subsequent raises I was thinking of splitting 50/25/25, with 50 going to our spending, 25 to retirement, and 25 to college. These are just general numbers to start off with, and I just wanted to see if I'm on the right path. Thanks for any help you can provide.
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