December 24th was my last work day - Yeah!
The business manager at our relatively small non-profit spent a little time with me and told me that I have a 180 day window to roll my 403B money into an IRA or it will be stuck in the emplyer's plans. That seems odd to me but I was going to roll it over anyway. I essentially have two questions related to doing this.
1. I'm trying to chose between T. Rowe Price and Vanguard for the company to roll into. The bulk of the ~ $170,000 that I'll be rolling over is int T. Rowe Price (my employer changed companies a few years ago and I left my Price money there as their funds had better returns and lower expenses). I've been very happy with the help I get from Price when I have questions. Though their funds are actively managed, I've been able to match or better indexes with modest expenses. Both companies have brokerages so I could potentially buy funds from other families though with brokerage fees. TR Price has higher brokerage fees though I don't do much moving of money except an occasional rebalancing or in the even less often situation where I don't like a fund. Vanguard's advantage is that they are simply cheaper. Their funds have lower expenses and their brokerage fees are lower. I will most likely stay in mutual funds for this money. I understand them and see no reason to change into individual stocks or anything more complicated. Any thoughts on making this choice?
2. I might like to use a brokerage for mutual funds outside of either company's own funds. If I chose TR Price, to pick up additional index fund choices. For either of the companies to perhaps buy a socially responsible fund. How does that work exactly? If most of my money is in the companies funds are those exempt from brokerage fees? When does one incur a brokerage fee?
Thanks for any thoughts on this.
The business manager at our relatively small non-profit spent a little time with me and told me that I have a 180 day window to roll my 403B money into an IRA or it will be stuck in the emplyer's plans. That seems odd to me but I was going to roll it over anyway. I essentially have two questions related to doing this.
1. I'm trying to chose between T. Rowe Price and Vanguard for the company to roll into. The bulk of the ~ $170,000 that I'll be rolling over is int T. Rowe Price (my employer changed companies a few years ago and I left my Price money there as their funds had better returns and lower expenses). I've been very happy with the help I get from Price when I have questions. Though their funds are actively managed, I've been able to match or better indexes with modest expenses. Both companies have brokerages so I could potentially buy funds from other families though with brokerage fees. TR Price has higher brokerage fees though I don't do much moving of money except an occasional rebalancing or in the even less often situation where I don't like a fund. Vanguard's advantage is that they are simply cheaper. Their funds have lower expenses and their brokerage fees are lower. I will most likely stay in mutual funds for this money. I understand them and see no reason to change into individual stocks or anything more complicated. Any thoughts on making this choice?
2. I might like to use a brokerage for mutual funds outside of either company's own funds. If I chose TR Price, to pick up additional index fund choices. For either of the companies to perhaps buy a socially responsible fund. How does that work exactly? If most of my money is in the companies funds are those exempt from brokerage fees? When does one incur a brokerage fee?
Thanks for any thoughts on this.
