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Kim

Comparing 403bs

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FT,

If you are not disagreeing with me, why do you threatened by the constant references to books, articles and information that argue the point over and over that fees matter, avoid wall street values, hire a fee only adviser, learn about the real value of advice and from each other's portfolio. I am gratified that my portfolio looks similar to yours and Joe's. Thanks for sharing. I feel a little more confident. This is scary business. But you want to be divisive by your repeated claim that I don’t read your posts. When it comes to investing, I know the language, the values of just about any perspective poster. Your posts are very easy to understand. I know where you are coming from. I don’t have to read each and every word. After years and years of reading posts on this and other forums, when it comes to investments I know in a glance what that poster is saying. Nothing personal nor do I think I know everything. But I can size up posts pretty fast because I have been doing it for years.

 

Believe or not, my thinking about investments and life has never been clearer for a long time, thanks to your opinions. I have a lot to learn by explaining why I do and believe based on what I have read, learned from others and experienced with investments over the years. There is this strong part of us to be different. I thought I was a big s in the nineties with the tech sector explosion. I was right there all the way up and all the way down. That was painful, but also maturing and humbling. But maturity provides a huge advantage because there is a time to join forces behind new ideas. Personal investing has made revolutionary gains in the last ten years. I knew about the low fees but something else was missing and that was allocating across asset classes and understanding how Wall Street media misleads investors. I have learned that the financial management profession is the most lucrative profession in the world. Now I am advocating asset allocation over true asset classes. I knew all along that there are high fee companies and low fee companies. Much to your dismay, I wonder why you find the need to defend yourself especially when I believe that ING is a high fee company and will encourage others to avoid them.

 

I believe I have tried to the best of my ability to explain all that I know respectfully, if I have not and I can be blunt sometimes, I do apologize. But this can be a rough business. I got my share of threatening emails and phone calls over the years by agents. You made your position quite clear, you want to be the voice of moderation. Well, that’s nice but we have another problem: I know you vehemently disagree with me but the 403b is not in a position to have a voice of moderation. While there are tiny parts of 403b world that is fine, most of it stinks. Moderation IMHO will have little effect but to support the status quo. This is where we disagree. What we need is reform.

 

But there is hope, lots of hope. We can agree about our feelings about our portfolios. I like mine. You like yours and I believe Joe likes his. GREAT! If you are happy with your portfolio, who cares? You should obviously care about yours, and I should care about mine, but it should end there. Nobody else really does, nor should they.

Have a nice day,

Steve

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Guest Sierra

What a horrible example to reveal to one's students that I as your teacher need someone to motivate me to be responsible for my own financial future. OK you're encouraged by the commissioned operator to get started which you did at age 22 but to still be with that shark 2,4,8,16 years later really says that you do not practice what you preach to your students and to your own children and grandchildren everyday of the year which is to be self reliant, a self motivator, responsible for your own affairs. To ask questions, do research, gain confidence and make your own decisions, to have courage of your own convictions.

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But there is hope, lots of hope. We can agree about our feelings about our portfolios. I like mine. You like yours and I believe Joe likes his. GREAT! If you are happy with your portfolio, who cares? You should obviously care about yours, and I should care about mine, but it should end there. Nobody else really does, nor should they.

 

I guess I find a gentle irony in your starting one thread with "Let's have a portfolio sharing discussion" and ending this one with "Nobody really cares about each other's portfolios, nor should they." But that's neither here nor there.

 

Steve, I don't feel "threatened" by your citation of various books, articles, authors, etc. I've actually read some of them, believe it or not! I'm just not going to be the guy to throw up a reading list from the opposition, because I don't represent them. You see things in a very black and white way, where I tend to see them in shades of grey. That's neither good nor bad, it just is...it's two different ways of looking at the world.

 

You seem to suggest that you've sized me up, and you know where I'm going with my posts. Well, OK. I think you've missed the mark in sizing me up, more than once...but I promise to keep writing if you promise to keep reading. And vice-versa.

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Guest Sierra

You see things in a very black and white way, where I tend to see them in shades of grey.

===============================================

PROVE IT BY MOVING HALF (JUST HALF) OF YOUR 403(b) BALANCE TO ONE OF THE NO-LOADS OFFERED BY YOUR SCHOOL DISTRICT-----THEN AND ONLY THEN CAN YOU ASSERT TO US THAT YOU SEE THINGS IN SHADES OF GREY.

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You see things in a very black and white way, where I tend to see them in shades of grey.

===============================================

PROVE IT BY MOVING HALF (JUST HALF) OF YOUR 403(b) BALANCE TO ONE OF THE NO-LOADS OFFERED BY YOUR SCHOOL DISTRICT-----THEN AND ONLY THEN CAN YOU ASSERT TO US THAT YOU SEE THINGS IN SHADES OF GREY.

 

Am I "chicken" if I don't?

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Thanks for the info on the "no-loads" that was very helpful. I am definitely going to check on that. Also thanks for suggesting the resources, and giving some examples about the investing to me. I did want to have this all settled by the holidays, now that I am more informed and have done some research during the break, I think that I am on my way! Thank you again to all of you for all of your help.

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Wow! this thread is over a decade old. We had agents masquerading as teachers. Who knows? Can't prove it, and they know it. Thank goodness FT left years ago. He or she defended the status quo with cleverness, salesmanship mixed in with a little gentleman or gentlewoman manners--the perfect sales person.

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