Hello,
I started a new position and noticed some of my retirement options seemed rather expensive. I work for a county hospital and have access to a 403(b), 457 and a defined benefit pension plan. The funds available in my 403(b) and 457 are nearly all 'American Funds' which, based on what I've read, are all actively managed funds. The total annual operating expenses for all the funds available to me are all between 0.93%-1.49% with the majority funds having expense ratios just above 1%.
I started a new position and noticed some of my retirement options seemed rather expensive. I work for a county hospital and have access to a 403(b), 457 and a defined benefit pension plan. The funds available in my 403(b) and 457 are nearly all 'American Funds' which, based on what I've read, are all actively managed funds. The total annual operating expenses for all the funds available to me are all between 0.93%-1.49% with the majority funds having expense ratios just above 1%.
I would ideally like to invest in low cost index funds, but it appears there are none to select from. I do moonlight on occasion in some area hospital emergency departments. Is it possible to start a Individual 401k this year using that income and then roll-over my 403(b) or 457 periodically into the Individual 401k (with Fidelity or Vanguard) to bypass the poor funds and expenses in my employer sponsored plan? If I decide to no longer moonlight in the future does that change the opportunity to do this? Pros and cons of doing this?
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