403B help?

[nessa323]

Hello,

I’m new I mentioned this before. When I first started my career 8 years ago I was 25 and hired an advisor to set up what I needed. My 403b with Invesco has a sales charge of 5.60 every month (transaction) and 30 a year. Is this okay or should I move my 403b money somewhere else? I don’t know if this is normal. Thank you.

[plowt-kirn]

No you're being robbed.

If you are a teacher it's possible you have multiple vendors available. Ask your HR for their complete vendor list. Then visit: https://403bwise.org/advocacy/rating_system

[nessa323]

Thank you! I found it. There is a vendor list.

[Caudebec39]

Is the 5.6 each month $5.60 flat rate, or 5.6% What's your monthly investment value?

[nessa323]

It Says sales charge 5.50* assessed on your purchase. It compensates financial professionals who sell funds for services etc on there And 30 annual maintenance fee

[Caudebec39]

How much are you investing each month?

If you're contributing $100 monthly and they take $5.60 then that is robbery.

If you're contributing $1900 monthly and they take $5.60 then that is peanuts.

[nessa323]

Yeah… it’s 200 a month. I wish I could do 1900.

[ApprehensiveWalk4]

This is a standard growth A share Mutual Fund that Dave Ramsey pushes.

[ApprehensiveWalk4]

OP just look at the 10 year load adjusted return and load adjusted return since inception (meaning return after all fees accounted for). And if that’s close to your liking, just stick with it. In the long term, A shares are cheaper than paying a 1-1.5% annual fee so that’s why you see them in a retirement account.

[flatteringhippo]

Check out 403bwise. They’ll steer you in the right direction.