Hi all,
I'm in my Late 20's and started as a school district employee in NJ last November. I'm in the process of deciding who to have service my 403(b) so I asked my district for a list of vendors approved to visit the district. It is as follows and to be honest, from my research and interactions, I'm not entirely thrilled:
Ameriprise
AXA Equitable
Lincoln Life
Met Lite
Siracusa
Valic
I've met with two of the above (AXA and can't remember the other) and both suggested high expense ratio funds/fees. One of them said that higher fees/expenses means more potential for earnings (he also assumed I was going to sign up and got annoyed when I said I was still looking) and both were very heavily focusing on the passed performance charts during conversation and then switched to the morningstar ratings when I kept on the high expenses. And they both wanted to put me heavily in tech. Now I'm not risk adverse by any means but it was kind of the final straw that gave me the sense they aren't concerned about my financial well being and may be looking to meet quotas or something.
My question: Does anyone use any of the above or have experience with them? Are they good and my experience just bad luck and flawed research? To be honest, I'm at a loss as the outlook doesn't look too well and I'm unsure of my options, short of petitioning the board to approve more reliable companies like Vanguard or Fidelity.
Also, thoughts appreciated on my basic draft of a plan:
Income: ~$58,600
Open 403(b): ~20% /mo for the school year
Continue my Roth IRA: starting 500/mo for the school year
Submitted July 21, 2018 at 12:19PM by UltraInvest https://ift.tt/2uNKFIi
