We have 403b available to us. I work for a large University and was given a list of vendors which I may use for the 403b. After sitting with several salesmen I was not impressed with their mutual fund choices. They all had high 12b-1 fees and front or back end loads and rather high turnover rates, according to the Fools information on 401k's these are excessive costs. I was going to invest %10 into the funds. All the salesmen say no load S&P 500 Index funds are not available to me under the 403b because of restrictions the University has placed on them. Now I am considering opening a Roth IRA. I have been told I can open a S&P index fund as a Roth IRA, is this true? I would invest as much as possible of the 10% into the IRA and the remainder in the 403b with the lowest cost that most closely matches the S&P 500. Despite the fact that money for the IRA will not be deducted pre tax will I be better off than with higher cost 403b mutual funds?Your input is appreciated.
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