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I work for a small non-profit and worked with a local finance guy to set up a 403(b) for us (6 person office). He told us the only company that would accept such a small group was Mainstay, and of all their funds they offer 9 for their 403(b). I'm invested in Capital Appreciation, International Equity, Total Return, and Value Funds. I have Class B shares, which I know I need to hold to avoid load charges (I think). Other funds available are Government, High Yield Corp. Bond, International Bond, Money Market, and Strategic Income Funds.

I also have a previous nest egg from a for-profit company invested in an S&P index fund and Davis NY Venture Fund, which I'm considering rolling over into a Vanguard IRA.

I'm going to be 48 this year, and am saving the max per year, as is my husband (teacher). Planning to retire mid-60s, sooner if I can afford it. Everything out there is tanking, as we all know, but in addition to the losses, Mainstay funds are not rated well at all by Morningstar.

Do you think it's better to save tax-deferred in this circumstance, or do something else?

Thank you.

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