 |
|
02-27-2008, 05:55 PM
|
#21
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by FinanceDude
He doesn't have a withdrawal rate until he's withdrawing.........  That being said, I'll bet it's an insurance product through Principal or someone...........
|
Yea, I know there is no withdrawal rate now, but you get the picture.
Company is called AXA Rosenberg.
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
02-27-2008, 09:41 PM
|
#22
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by travelover
Yea, I know there is no withdrawal rate now, but you get the picture.
Company is called AXA Rosenberg.
|
Well, the "advantage" is that they probably do a match, he gets a tax-deferral credit on the money taken out, and he will in all likelihood NOT be working there for the next 30-40 years, so he'll get into a "better" plan someday...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
02-28-2008, 07:28 AM
|
#23
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 6,205
|
Quote:
Originally Posted by boutros
It would typically have a 5.75% load but it is not charged when I buy it for them.
|
So they give up income in the amount of 5.75% simply because you are a good friend? How nice of them.
|
|
|
02-28-2008, 07:46 AM
|
#24
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 8,918
|
I wonder what this guy would say if your sister told him to buy her one fund? A target retirement fund.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
|
|
|
02-28-2008, 07:57 AM
|
#25
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by FinanceDude
Well, the "advantage" is that they probably do a match, he gets a tax-deferral credit on the money taken out, and he will in all likelihood NOT be working there for the next 30-40 years, so he'll get into a "better" plan someday...........
|
There is no match. It is a big city fire department, so most guys do work there 30 + years. His wife works part time, so their tax bracket is low.
I don't know how long he will work there, but I'm recommending that he maximize their Roths instead.
|
|
|
02-28-2008, 10:09 AM
|
#26
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by travelover
There is no match. It is a big city fire department, so most guys do work there 30 + years. His wife works part time, so their tax bracket is low.
I don't know how long he will work there, but I'm recommending that he maximize their Roths instead.
|
No pension??
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
02-28-2008, 10:11 AM
|
#27
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by Dawg52
I wonder what this guy would say if your sister told him to buy her one fund? A target retirement fund.
|
The jury's still out on those..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
02-28-2008, 11:46 AM
|
#28
|
Recycles dryer sheets
Join Date: Dec 2007
Posts: 102
|
Quote:
Originally Posted by Marquette
Well, that got me motivated to look at my 401(k). The good news is that it looks like it's 0.51% for me.
One thing I'm not sure on is my bond fund, though. It's an internal fund (no public listing) that buys AAA-BBB funds with the largest holding in treasury notes. There's no expense fee, which sort of makes sense, but I can't find any info on what other fees there might be. Maybe the company is just encouraging investing to increase their overall fund size.
edit. By far the largest fee is the 0.83% for the oakmark equity & income fund (oakbx). Since I'm 32% in that, 16% in the bond fund, and 27% in Dodge and Cox Stock Fund (dodgx), maybe I should rebalance out of the oakbx and into the bond and dodgx fund... if I throw it on m*, I'm guessing there's a lot of overlap in the equity holdings between dodgx and oakbx (they're both lv-weighted)
|
Funny, I hold both OAKBX and DODGX as well. Both have done very well for me for several years.
|
|
|
02-28-2008, 11:57 AM
|
#29
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by FinanceDude
No pension??
|
Sure there is a pension, but what does that have to do with the high ER on the 401(k)?
|
|
|
02-28-2008, 02:02 PM
|
#30
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by travelover
Sure there is a pension, but what does that have to do with the high ER on the 401(k)?
|
Not directly correlated, but I assumed a fulltime firefighter would have a pension. The AXA annuity in the 401K is not going to change anytime soon. No doubt it's some buddy of the higher ups that "hooked up" his buddy...........
I would do the Roth thing and maximize them. If there is extra money left over, he can do the 401K. Better still, forget the 401K and build up a joint account in tax-efficient low cost funds or ETF's...........he will lose the tax benefit of pre-tax contributions but if the performance has been bad, he could make more in the joint account.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
02-28-2008, 03:49 PM
|
#31
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by FinanceDude
............... The AXA annuity in the 401K is not going to change anytime soon. No doubt it's some buddy of the higher ups that "hooked up" his buddy...........
|
Yea, that's what I figured, too. What a racket.
Quote:
Originally Posted by FinanceDude
I would do the Roth thing and maximize them. If there is extra money left over, he can do the 401K. Better still, forget the 401K and build up a joint account in tax-efficient low cost funds or ETF's...........he will lose the tax benefit of pre-tax contributions but if the performance has been bad, he could make more in the joint account.........
|
Thanks for confirming my thoughts on this. This is what I've recommended to him.
|
|
|
02-28-2008, 08:49 PM
|
#32
|
Thinks s/he gets paid by the post
Join Date: May 2006
Location: Orlando
Posts: 2,498
|
What does Bernstein write in one of his books about FA's? Something like "A FA's long term goal is to transfer all of the money in your account into his account."
Disclosure - I use a financial planner who charges a fixed fee not based upon my account balance.
|
|
|
02-29-2008, 08:51 AM
|
#33
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
02-29-2008, 07:58 PM
|
#34
|
Thinks s/he gets paid by the post
Join Date: May 2006
Location: Orlando
Posts: 2,498
|
FinanceDude - I'm not totally sure what your post means but if it is that I'm getting my pocket picked too, you are correct. That's why I wanted to make that clear given my post.
I wanted access to DFA funds (after reading Bernstein) and some assistance for now so I picked the cheapest route I could find. At least I know an increase in the value of my portfolio doesn't mean an increase in my ees. On the flip side, a decrease in my portfolio value does not mean a decrease in fees.
|
|
|
 |
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|