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San Diego Unified: Vanguard Without A Middle Man?

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My wife has started teaching high school in San Diego and wants to open a 403(b). On the 403bcompare site, it looks as though she should be able to deal directly with Vanguard. She also met with a salesman at school. When she told him "no annuities" he showed her a list of companies, including Vanguard, that he could provide (for .7 percent).

 

I'm going to look at the paperwork this weekend, but wondered if I am missing something. Can she go directly Vanguard without a salesman?

 

Thanks,

John

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Absolutely. She can go to Vanguard without a middle man. The forms for Vanguards application are at their site and San Diego Unified should have a salary reduction agmt.

 

Scott

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This is precisely what I have been suggesting to folks. If a person is knowledgable and comfortable investing on his/her own, why on earth should that person pay a middle man?

 

Choice #1: Go with the agent and pay .70 for Vanguard.

Choice #2: Do it yourself and pay .20 or so for the same fund.

 

Sounds like an easy choice to me.

 

 

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Yep. Do it yourself and save the 0.5%. My wife is a LA County teacher and I helped her with the forms and it probably took 6-8 hours to fill everything out and get it into her district office so that they could start the salary reduction. We went with Fidelity but the process should be the same. As long as you can be patient (Fid/Van sets up the account in your name, you get the account number and put on the salary reduction forms, you turn in the forms, in 30-60 days your check is reduced, 10-15 days after that you have money in your 403b) it is easy. And once you fill out the forms, you can use those originals as the boilerplate for future modifications; although my wife's forms have a smaller (easier) section to change the reduction vs. starting one.

 

 

 

 

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