AboutJohn D Smith, CFP Expertise I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner practitioner and have performed fee only investment management and financial planning services for the past 11 years.
Expert: John D Smith, CFP Date: 8/31/2007 Subject: Mutual Fund decision
Question Hi, I was recently hired as an Associate teacher for an Intermediate Unit, an entity of the school district. I have the option of having a portion of my paycheck taken out for a Tax Shelter Annuity plan. 403(b). I have been given a list of 17 different companies.. i.e. Fidelity tax-exempt services co, The Vanguard Group, Oppenheimer Funds, etc. I am new to this thing and I am 27 years old and would like to pick a plan that will help me in the long run. Also, I don't know what the least amount of each paycheck I should take out, $50/$100/mth?
Answer Without having the opportunity to review the mutual fund choices at each company it is difficult for me to offer specific recommendations. however, in my past experiences of review 403b companies, Vanguard has always been a top choice. As far as how much you should contribute, this is based on what you can afford and what your goals are. Generally speaking I would say save as much as you feel you can afford to each paycheck. I hope this helps.
