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I'm set to retire this coming June. In anticipation of this, the folks at TIAA-CREF (where my 403b money resides) invited me in for a financial checkup.

They offer this gratis, but they also let you know that you can engage them to manage your money for you ... for, in my case, 0.55% per annum.

Their computer took in all my personal info, objectives, etc., etc., and spit out the results for me. As it turns out, the advice is that I pay somebody 0.55% of my money to put 89% of it in various muni funds, 6% in a short-term bond fund, and 5% in a stock fund.

I'm supposed to pay someone $5K/year to do that? Hello?
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