YOU HAVE FOUND OUR OLD WEB SITE. BE SURE TO CHECK OUT OUR NEW AND IMPROVED SITE!     403(b) Stories In an effort to personalize the 403(b) plan so that participants can learn from one another, 403(b)wise will be profiling real people who contribute to the 403(b) retirement plan.     Joe, 58, Los Angeles Elementary School Teacher How He Got Started Twenty years ago a principal urged Joe to start a 403(b) plan. It was great advice. Today, Joe's 403(b) balance stands at more than $250,000.   In His Words "I opened a 403(b) account with Western National twenty years ago. About 10 years ago, I started transferring my 403(b) funds from Western National to Vanguard via the 90-24 transfer because of their index fund choices and low fees. I no longer have any funds at Western National. I started my 403(b) with $2,000 a year. The amount has varied over the years depending upon my financial situation. I now contribute $12,000 a year to TIAA-CREF.   "I have also fully funded a Roth IRA since it has been available (1998). I do not contribute to a 457(b). The combination of my saving accounts, taxable funds, IRAs, and 403(b) makes me a Voyager Client (must have balance of more than $250,000) at Vanguard. At the present time my portfolio is 5% cash, 35% bonds, and 60% equities.   "I don't use an advisor, but I have read a number of books on investing and money management. My favorite books are by John Bogle, Larry Swedroe, William Bernstein, and Frank Anderson. I also follow the discussions on Morningstar.com, especially the Vanguard Diehard Forum, and of course, 403bwise.com. I believe that by having a diversified portfolio of large caps, small caps, REITs, international, and bonds and using mostly index funds for these asset classes that it will give me the best chance for my portfolio to grow. I do not try to time the market.   "I do not have any definite plans for when I am going to retire. I am going to slowly increase my bond holdings, however, as I get closer to retirement.   "A young investor who is starting out needs to begin saving with a 403(b) and a Roth IRA, if possible. Time and compounding are the friends of the beginning investor. You can begin funding a 403(b) with a small amount of money, and increase it each time you get a pay increase. Keep part of the pay increase for yourself, and give part of it to the 403(b). This is a great way to fund a 403(b).   "An older employee should also consider funding both a 403(b) and a Roth IRA. It is not too late to begin doing something. It is doubtful that any investor, young or old, will regret having saved some extra money for retirement; however, I can imagine someone wishing that they had put away a little more."   Would you like to share your 403(b) story? If so we want to hear from you! We are especially interested in participants who use an agent or advisor, and participants who have a 457(b). For your participation we will send you a complimentary copy of The 403(b) Wise Guide. If you are interested email us at: contactus@403bwise.com and type "403(b) stories" in the subject line.   Home | Disclaimer | © 2004 bWise Guys, LLC. All rights reserved.				Back to the most recent 403(b) story