What Does Your Financial Pathway Look Like? |
As a fellow PTHEA member, I understand just how busy you are throughout the school year. You might be looking at this site and think this is too much information and I don't know where to start. The easiest thing to do would be to hire a Fiduciary Financial Advisor.
Yet, there are a few things you can do now. Start by: (1) Finding your retirement plan statement, Vendor name, and sales rep information. (2) Look through the statement to find the fees. These companies often have hidden monthly, transaction fees, or other fees. (3) Call the company's main number (not the local representative) to ask about all fees that are deducted from your account, which might be monthly, deposit, or withdrawal fees ("Surrender waiting period" or "Surrender Fee"). (4) Find another company with a plan that is best for your particular situation. (Found Below) Often, people tell me that everyone in our district should be enrolled in a zero fee plan. Yet, some plans might be worth the management fee if they yield a higher rate of return, but this will not be the case for most of us. If you are more tech and money savvy, you might want low to no fee (not managed by a professional) and manage the funds yourself. Most people prefer a low to no fee plan and leave the funds until retirement. Also, your tax situation and long term goal must be considered. |
PARSIPPANY-TROY HILLS BOARD OF EDUCATION
TAX SHELTERED ANNUITY COMPANIES
403(b) BROKERS
(updated August 2022)
For most people I would recommend going with a 457b with Aspire Financial Services.
This is just my personal opinion and you should learn more about your options to make an informed decision.
(Recommendation as of 3/2023)
This is just my personal opinion and you should learn more about your options to make an informed decision.
(Recommendation as of 3/2023)
PARSIPPANY-TROY HILLS BOARD OF EDUCATION
TAX SHELTERED ANNUITY COMPANIES
457(b) BROKERS
(updated August 2022)
For most people I would recommend going with a 457b with Aspire Financial Services.
This is just my personal opinion and you should learn more about your options to make an informed decision.
(Recommendation as of 3/2023)
This is just my personal opinion and you should learn more about your options to make an informed decision.
(Recommendation as of 3/2023)