2006-11-16 06:20:50 · 4 answers · asked by Kyle3701 2 in Business & Finance ➔ Personal Finance
You don't have a choice. Teachers are not eligible for 401k accounts through their schools, only 403bs
2006-11-18 13:29:36 · answer #1 · answered by ps2754 5 · 0⤊ 0⤋
Another issue to compare is the cost of funds. I know the 403B I have has lesser management fees. But the 401(K) I have through my current employer has matching contributions. You need to sit down and figure which one will give you more dollars to invest (matching funds for example) for the least cost. It is a confusing issue. You also need to be sure the investment options offered are ones you are comfortable with. good luck
2006-11-16 06:41:46 · answer #2 · answered by Confuszd 1 · 0⤊ 0⤋
You have to look at what the investment options are for both, as well as any matching. If the employer matching is the same, then it boils down to which product has the appropriate investment funds to meet your needs, based on your age, willingness to accept risk, future goals, etc...
There's probably some advisors available through the companies offering the plans. Find someone to advise you. Or go pay someone from a financial planning company a flat fee to advise you if the plan administrators can't help. I'd expect it to be worthwhile over 30 years to spend $250 today for some decent advice. Could be worth tens of thousands.
2006-11-16 06:34:34 · answer #3 · answered by Anonymous · 0⤊ 1⤋
401k
2006-11-16 06:23:04 · answer #4 · answered by steffy 3 · 0⤊ 0⤋