Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: Cas3yMachu1a Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5138  
Subject: 403(b) ING account with dismal returns Date: 10/11/2007 12:12 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hello All,

I work at a Northern Arizona University, which does not provide matching funds for retirement savings on 401Ks etc. We pay into a mandatory state savings dealy-wop, which is matched by the university (thank you Jesus); but, it doesn't pay much after retirement.

So I took out an account with ING, withholding $600 every two weeks from my paycheck, now that I'm divorced and my kids are grown and I'm pretty frugal, riding my bike to work and limiting purchases to necessities etc. I paid in about $2000 from my Valic account (which actually *lost* me money -- that's right *lost* money) during the bear market over the summer. In short, ING has done very poorly. I should have seen a decent gain in my value given the recent upturn in the market following the Feds' lowering of interest rates. But ING has done about as well as a standard passbook savings account at a local bank, without being FDIC insured, no less.

I'm wondering if there's a 403(b) plan anywhere that's worth a damn? I'm thinking I'd do a lot better if I just took the money and invested it in index funds on, which was recommended to me by the fool, and which I've been pretty happy with.

Any comments, suggestions, insights?

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.