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lincoln16

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  1. Thank you for the info and kind words. Ultimately is wasn't a financial thing on the foreclosure. It was a bad relationship thing and the ultimate mistakeg of buying a home together without being married and putting both our names on the loan. Never AGAIN! Thanks
  2. Hello, I just went thru a foreclosure and am getting sued by the 2nd lender who did not get their money back in the sale. I am mulling over a possible bankruptcy filing but, thought I might try to get some money from my 403b. I am sure that many people have tried or at least asked about this. I called American Funds today and they said they do not do "hardships" anymore as of 2009. They said they only thing I could do was move my money to my company's other provider, Vanguard, for a 125.00 dollar fee and try to do it through Vanguard. Is this possible? Does Vanguard allow hardships due to foreclosure and eviction? Thanks
  3. Jim, You were totally right. I talked to AF and asked all the questions you mentioned and you were right. There are no penalties but, there is the CDSC which would be $351.91 on the 12 grand I have in AF 403B. Now, I asked her if the years go on will it be less money. You provided that chart over time for me. She said that my shares were purchasd in July of 2002. My 6 years would be up in July. With that said I wouldn't have to pay the CDSC if I waited to transfer to Vanguard until then. I told her it seemed like a no brainer to wait till then and she told my she couldn't answer that but, alluded to the fact that I should wait. Sound right?? Seems like I should hold onto them until July and then move them to Vanguard. Thanks for your advice and thoughts Lincoln
  4. They did say "no penalties" as long as I get the shared agreement paper signed and such. But, your right they may be just saying no penalties and not telling my about surrender charges. I will check and add all those questions when I call them tomorrow. Tony, in my first post I mentioned I had Wash Mutual and Europacific. I said my advisor wanted to put me in the Capital Bond Fund. And he did. I have .998 percent of 1 capital bond fund share class B!!! I figured he would start buying them for me only when I upped my money per paycheck. I didn't even do that and he went ahead and purchased one??
  5. Tony, are you saying transfer the 13 grand into the VGTI fund?
  6. I read Dan Otter"s Book. It took me about 3 hours. Very informitive and helpful. I am sold on the no load index funds and simplicty of target retirement funds although the Life Strategy funds I just read about seem intriging. My last definitive question: I have heard arguments on both sides. I just don't know what to do with the 13 grand I have with American Funds. Should I keep it and stop contributing or roll it over into the new Vanguard 403b? The Europacific Fund I have with them is doing well. However, there are no penalties to roll it over? Can someone give me some advice here? Thanks
  7. I got a return email from Vanguard that said this regarding transfers from my current American funds 403b (which has B shares): TRANSFERRING A 403(b)7 Under Revenue Ruling 90-24, 403(b) plan participants have generally beenpermitted to transfer 403(b) assets from one account to another withoutrestriction. However, the final regulations published on July 23, 2007impose new requirements on transfers, including a requirement that theemployer and the investment provider enter into an information sharingagreement. In order to proceed your employer must enter into an information-sharingagreement with Vanguard before a transfer may be completed. At this timeyour employer has not yet sent remitted this documentation back toVanguard. For more information, we ask that you or your employer pleasecontact us using the number provided below. Hi Lincoln, I am in the same situation and have just opened an account with VG. My school and Omni have not, I've been informed, created the necessary documents to meet the new requirements (above). So, I will stop contributing to AF and only contribute to VG. After January 1, 09, I will transfer the assets from AF into VG. Right now I think I'm going with VGTSX. Next January I will add index funds covering domestic stocks, bonds, mid and small caps, and perhaps REIT's. I have seriously considered the Target funds from VG but as you already noted, they are quite conservative with roughly only 70% stocks allocated. dcfas This sounds interesting. Explain to me why you are waiting till after January 1st again?
  8. Sorry if there is confusion. My school offers Vanguard so I am able to go with them. In a later post I found out that they will waive the 3000 dollar minimum for the Target Retirement Funds if it is for a 403b. I talked to American Funds and asked specifically and emphatically what the penalty/charge is to switch all my American Fund money over to Vanguard. I even checked with Vanguard and they said that sounds correct. I have to get and sign a distribution sheet then I am ready to go with Vanguard. Lincoln, You're confusing me a bit. You said in an earlier post that Vanguard wouldn't accept a transfer: Will Vanguard even let you open a new 403b account? Not that you couldn't invest directly with them through a Roth IRA or non-qualified account. Jim p.s. If you asked if there were no "penalties" AF probably took that as tax penalties, which would be none as they described. You should read the prospectus, page 23. Excerpt below: Class B and C shares ...The contingent deferred sales charge is based on the original purchase cost or the current market value of the shares being sold, whichever is less. Contingent deferred sales charge on Class B shares Year of redemption: 1 2 3 4 5 6 7+ Contingent deferred sales charge: 5% 4% 4% 3% 2% 1% 0% Ask American two questions: How much is my current balance? How much is the deferred sales charge if I redeem my shares? That said, you indicated that VG isn't an option for your AF holdings at this point anyway.
  9. I talked to AF today and they said that there are NO PENALTIES if I move my 403b fund money to Vanguard. Could this be true? This sounds way too easy. They only said I needed to fill out a 403b Distribution Form and send it to them and they need notification from Vanguard that they are a provider from my school. I was shocked to hear there was no penalty. More importantly, I have read here and other places that the Vangurad Target Retirement Funds I am interested in are a little conservative. How about if I just go with an earlier plan out of my age range that is more aggressive? That may offset the conservative nature. I am 31. -the 2045 Fund is suggested for ages 24-28 and currently is priced at $14.23/share -the 2040 Fund is suggested for ages 29-33 and currently is priced at $22.41/share Thoughts? Thanks
  10. Jim, not sure how to explain the allocation so here it is: https://personal.vanguard.com/us/content/Fu...2040Summary.jsp How about 95/5 Target/Reits? Lincoln, What's the allocation of the target fund? Jim
  11. Tony and Skeptic, Lastly, Should I put the entire 100 percent of my 200 dollars per paycheck into the Target Retirement Funds? Or put a little something into one of those Reits? Thanks
  12. Celia, I am in a similar situation as I posted briefly before. I had several different scenarios going on in my head and can empathize with Lincoln. I also have a chunk of money in AF and have before me right now five or six allocation pie charts, several Morningstar style boxes and a file I have been putting together with information from several sources, including this forum. At this point, keeping it simple sounds very attractive. Lincoln: Omni has responded to my questions about transferring assets from AF. In short, they are telling me that there is a freeze on until January, 09. If this is the case I may begin at Vanguard with one large cap fund, wait until 1/09, and then transfer the AF to VG, at which point I will add other funds. The fee for each fund is $15 (403(b). I'm not sure about the 403(b) but in the non-retirement accounts they will drop that fee if you are going all electronic (e-service). I still haven't been able to figure out if my sales guy is going to charge me for having the AF account even though I will not be contributing. Great forum, dcfas DCFAS, Yes sounds like my situation. However, I beleive I am going to keep the American Funds and start the 2040 Vanguard Target Retirement Fund. That sounds like the most simple plan which people have advised me to do. Let me know what you hear about letting the AF sit there and what you will be charged. Thanks
  13. Taking a look at my friends 403b plan. He has been putting in for 9 years and has met with the person twice: Here's the specks: Product name: Commodore Spirit-IND Tax Sheltered Annuity Broker: Great American Advisors Accounts/Funds: AIM-VI Cap Development Dreyfus-Tech Growth JA-International Growth I never heard of any of these? Any insight? Is this a good fund?
  14. VFTSX- that must be the ticker for the SRI Chrysopylae suggested. VGSIX must be it at 20.40. I gotta start reading more and asking less questions. I anxiously await Otter's book in the mail. Thanks
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