Reply to Any reason to stay with TIAA-Cref?

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[quote=Anonymous][quote=Anonymous]Where is your Roth IRA?
Should have never had that much money in a 403b unless it up to the match and ended up being 1 million. The fees and investment choices have been eating your returns since you opened it. 
You don't want to buy annuity. Buy a dividend ETF in a regular investment account if you want steady income.[/quote]

This is bad advice. A taxable account is almost never going to be better than a 403b/401k. First of all, you pay income tax today so you have 25% less money to invest. Then you pay tax on dividends every year, plus 15% on the gain when you sell -- whereas you pay 0% on both in the 403b. Yes, you pay income tax on the withdrawal, but that's equivalent to the income tax you paid for the taxable account (and likely lower, since you're withdrawing in retirement when you have less income). Assuming you at least have some kind of S&P500 index in your 403b, you'd have to beat this by at least 15% in your taxable account (and probably more like 25% with dividend-tax drag) to make this worth it.

But to answer OP's question, yes, go ahead and transfer to Vanguard. I agree with PP that the annuity is not worth it.[/quote]

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