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Natman29

Should I stop my 403(b)

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I recently started a 403(b) with National Life Group for a very small amount.  I honestly don't know anything about them other than they came into my office and I blindly signed up. (I am the onsite computer tech at a high school in Las Vegas).  I'm starting to do research on this 403(b) and am understanding that there are better investment options out there.  My question is do I stop this plan that has only been active for four months and go with another company? ( I've heard Vanguard is reputable)  Or do I look outside of the district and invest in something like a Roth IRA?  Any advice would be greatly appreciated.

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Yes, I think you should stop contributing to the National Life annuity. You should check out you district’s 403-b vendor list. And post it here. Contributing to a Roth IRA is always a good option. Do it directly with Vanguard or Fidelity. Hopefully one of them will be on the district’s 403b vendor list!

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If you save less than the IRA contribution limit (6k for those under 50, 7k for those over 50) the just stop the 403b and only use an IRA.

If you save more than the IRA contribution limit then figure out what 403b and 457b vendors you have access to, stop National Life group, and fund some combination of an IRA and a better vendor (we need more information to be more specific on that split).

NOTE: Your IRA doesn't have to be a Roth, it can also be a traditional. The same can be said for most 403b and 457b plans. The choice between Roth and Traditional should be made intentionally, you shouldn't simply default to a Roth IRA and a Traditional 403b.

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