Do any teachers here use Aspire for 457 or 403(b) plans

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
User avatar
Topic Author
Socrates
Posts: 294
Joined: Sun May 13, 2018 10:27 pm
Location: Margaritaville

Do any teachers here use Aspire for 457 or 403(b) plans

Post by Socrates » Sun Jun 09, 2019 9:53 pm

My school district recently added them as a 457 plan. I currently use Vanguard for my 403(b), but I am close to maxing that out and am looking to contribute to a 457 plan.

The pros: it offers a huge array of funds. They only charge .15 expense and $40 a year, unlike CalSTRS Pension 2 (.25 expense) and Calpers which is even more. I could add low cost Vanguard funds that are missing from the limited Vanguard 403(b) list. For example: Wellesley or VBILX (which I am very interested in) or other funds such as Baird, Dodge and Cox, etc. I think if the fund is fairly low cost to begin with (e.g., VBILX), the extra .15 is not a deal breaker.

Cons: It looks like they push you to use an adviser, which I would not use. It looks like it is optional, but I have to call tomorrow to clarify. I do think I have the option to waive it.

Any thoughts on this would be greatly appreciated. I do max my Roth IRA.
“Don't waste your time looking back. You're not going that way.” ― Ragnar Lothbrok.

orange2334
Posts: 6
Joined: Sat Nov 19, 2016 9:23 pm

Re: Do any teachers here use Aspire for 457 or 403(b) plans

Post by orange2334 » Sun Jun 09, 2019 10:02 pm

Never pushed an advisor on me. Also, you can request a Vanguard, or any fund. One time I was denied, but mostly all of my fund requests were honored.
403b457services@aspireonline.com

I believe you will be pleased

renue74
Posts: 1515
Joined: Tue Apr 07, 2015 7:24 pm

Re: Do any teachers here use Aspire for 457 or 403(b) plans

Post by renue74 » Sun Jun 09, 2019 10:25 pm

My wife has aspire 403b. She’s a teacher in SC.

I set it up and uses the self service option. Never have to deal with an advisor.

We use it for our total bond fund allocation...as part of our overall AA.

sschullo
Posts: 2472
Joined: Sun Apr 01, 2007 8:25 am
Location: Rancho Mirage, CA
Contact:

Re: Do any teachers here use Aspire for 457 or 403(b) plans

Post by sschullo » Sun Jun 09, 2019 10:36 pm

here is another discussion thread: viewtopic.php?t=273016

and more good news about Aspire: viewtopic.php?t=242155
Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

EdLaFave
Posts: 379
Joined: Fri Dec 26, 2014 2:31 am

Re: Do any teachers here use Aspire for 457 or 403(b) plans

Post by EdLaFave » Mon Jun 10, 2019 3:07 pm

I documented Aspire here. You don’t need and shouldn’t use an advisor.

It isn’t as good as elite plans like Vanguard and Fidelity. It’s in the next tier and still very much worth using if you’re already maxing out the Vanguard 403b and your IRA.

If you’re in the right state, they may offer a state sponsored 457b that is superior to Aspire.

I’d recommend you trying to get the district to add Fidelity because their 457b is excellent. I was able to get my district to add them.

User avatar
CyclingDuo
Posts: 2311
Joined: Fri Jan 06, 2017 9:07 am

Re: Do any teachers here use Aspire for 457 or 403(b) plans

Post by CyclingDuo » Mon Jun 10, 2019 7:50 pm

Socrates wrote:
Sun Jun 09, 2019 9:53 pm
My school district recently added them as a 457 plan. I currently use Vanguard for my 403(b), but I am close to maxing that out and am looking to contribute to a 457 plan.

The pros: it offers a huge array of funds. They only charge .15 expense and $40 a year, unlike CalSTRS Pension 2 (.25 expense) and Calpers which is even more. I could add low cost Vanguard funds that are missing from the limited Vanguard 403(b) list. For example: Wellesley or VBILX (which I am very interested in) or other funds such as Baird, Dodge and Cox, etc. I think if the fund is fairly low cost to begin with (e.g., VBILX), the extra .15 is not a deal breaker.

Cons: It looks like they push you to use an adviser, which I would not use. It looks like it is optional, but I have to call tomorrow to clarify. I do think I have the option to waive it.

Any thoughts on this would be greatly appreciated. I do max my Roth IRA.
Kudos to you for going beyond the 403b and adding the 457b option. Especially if you are dual income household, it's nice to have an option to sock away even more pre-tax income into these plans.
"Everywhere is within walking distance if you have the time." ~ Steven Wright

User avatar
Topic Author
Socrates
Posts: 294
Joined: Sun May 13, 2018 10:27 pm
Location: Margaritaville

Re: Do any teachers here use Aspire for 457 or 403(b) plans

Post by Socrates » Tue Jun 11, 2019 11:21 am

Kudos to you for going beyond the 403b and adding the 457b option.
Thank you all for your responses. :sharebeer


I am trying hard to sock away money so I can retire by 60. I realize these are my wheelhouse years for earnings. Hit a little snag with a divorce, but back on track!
“Don't waste your time looking back. You're not going that way.” ― Ragnar Lothbrok.

Post Reply