My first recommendation is to review your 403(b) materials and pinpoint the funds with the lowest expense ratios. Compare those expense ratios to mutual funds available through brokers such as Vanguard or Fidelity. [/quote]
This is how clueless I am... I had to google 'epense ratios'! I stayed up probably way to wait learning even more about even how to simply read my account summary.
And just by doing that, I think I need to make some changes to my investmentsCurrently im investing:
50% Large Cap Funds (T Rowe Price Growth Stock .70%operating expense and T Rowe Equity Income Fund at .66% OE)
15% in Mid Cap Funds (Vanguard Mid-Cap Index .10%OE)
10%in Small cap funds (t rowe price small cap .97% OE)
25% International Funds (fidelity diversified international .90% OE)
However, I do I have other options. For every fund I can pick from, there is a vanguard fund available, In the large cap its at 10%OE and small cap vanguard at .16%.
I'm also now more interested in the vanguard target retirement 2045 for a Roth IRA, but I probably need to do more research.
THANK YOU for all of your advice. I really have been on 'autopilot' and have realized this is something I needed to investigate, I just didn't even know where to begin. This blog has been great at providing me with motivation and resources.
I often struggle with juggling priorities ... and you have several ... so I have a couple of tidbits to add regarding those. If you have kids, the standard advice is that they can get student loans but you can't get retirement loans ... so make sure you keep your eye on the prize and don't lower your retirement saving in order to fund their education. Regarding the homeownership, there will always be another house ... as much as possible, try to keep emotions out of a homebuying decision ... it's the biggest purchase you'll ever make and it's pretty permanent ... take the time to figure out what you want and don't settle.
And thank you for the home advice, the more comments I've read, the more I realize that we need to do a lot more planning before being able to commit to such a pricey venture. Thank you again for your advice, it helped me to get the ball rolling.