TIAA-CREF - Frequently Asked Questions ❓

[@christophersaylor1180]

Roger Ferguson Thank you for keeping our Educators First ...

[@DominiqueHendersonCFP]

You’re welcome!

[@catchili]

VERY HELPFUL! Thank you!! Whiteboard would be great too!

[@DominiqueHendersonCFP]

Info AT djh-capital DOT com to get more information.

[@viszwapriyaprakash4390]

Thank you for the explanation. I am an Indian citizen. And I worked in USA for one and a half years and have TIAA CREF account. Now I have moved back to India for good. Can I close my account without suffering penalty or federal tax ?

[@DominiqueHendersonCFP]

Closing an acct has no tax implication just withdrawing money.

[@westafoya6772]

I make a living through my investments in the market. So I do not get 'earned income' as I do not work for someone. I read Tony Robbin's book "Money, Master the Game" and his interview with some of the top billionaire investors said to use TIAA-Cref as a tax shelter. I am confused about how this is done. Can I directly use TIAA-CREF or do I go through a fiduciary (you said one can go through an investment expert...)... what to do?

[@FKtdyvan]

They told me that I have $30,000.00 in my TIAA-Cref that accumulated during the time when I taught as a professor at universities. I am now retired, and so what do you recommend I do with this money. Also, how do I find out if the funds are earning any dividends? I look forward to hearing from you. F. Kustaa

[@DominiqueHendersonCFP]

Hi F. Kustaa. Thanks for watching. Probably best to schedule some time to chat about your situation. You can use this link to schedule: calendly.com/djhcm/portfolio-review

[@fkustaa]

@@DominiqueHendersonCFP Thank you Mr. Henderson for your reply. As you suggested I will schedule some time to talk to you. Dr. Kustaa

[@yeager6882]

Let me see. My employer doesn't pay me enough to live on, but I have an account with TIAA. But I can't touch that (my) money without being taxed to death. Remind me again how this is a benefit to poor people that don't have any money? So how much will I be taxed? 30-40%? More? Ridiculous.

[@Herhighness211]

I participate in TIAA. I’m on a target date fund but I would like to get out for hat fund because I think that I’m leaving money on the table. I looked at what I’m invested in within my TIAA account and I don’t even know what/who these companies are. Can I move my TIAA money out of this target date fund and into stocks and bonds that I know? Stocks like Pepsi and Apple and dividend paying ETFs?

[@DominiqueHendersonCFP]

Her Highness usually you're restricted to funds on the platform unless you do a rollover. We can discuss if you want to book an appt:. calendly.com/djhcm/portfolio-review

[@lettyadorno]

I saw that Fidelity has an expense ratio less than 0,2%. What expense ratios does TIAA offer? It can make a big difference and shouldn't be underestimated.

[@DominiqueHendersonCFP]

You can probably find out by visiting their website. I don’t know.

[@wendybennett6703]

Letizia, I agree with you. I looked at some of the expense ratios in my Tiaa account. Most range from 0.48 - 1.20%. I would really like to move my money into funds with a lower expense ratio

[@DominiqueHendersonCFP]

calendly.com/djhcm/intro

[@MrPeterschmit]

Hello. I'm very glad to have found your channel. I could really use some help. My 75 yo aunt has had an account with Tiana cref for years and years. He husband set it up and always made the money decisions but he died 8 years ago. My aunt doesn't need this money, which is apparently over 1.2 million dollars. She has another fund with Morgan Stanley, she has a huge stack of savings bonds, and she gets approximately 5 thousand dollars a month from various pensions. The poor thing is totally lost and scared of making a mistake. She recently asked me to execute her estate, and now her chaos has become mine. My simple question is, couldn't she move all of her money into a Robinhood account or something similar?( A lot of her money is returning virtually nothing at all. She had over 240 thousand dollars in a damned checking account! ) What do I need to do to comfort her and help her organize herself? Id really appreciate any help you can provide.

[@DominiqueHendersonCFP]

Send me an email at Dominique AT djh-capital DOT com.

[@RetrieverTrainingAlone]

Withdraws without penalty start at age 59, maximum annual withdraw from TIAA traditional account is 10 percent, the other accounts like CREF, no withdraw limits. Retirement can be allocated among a diversity of investments including TIAA traditional, real estate, bonds, inflation linked bonds, equities, etc.

[@DominiqueHendersonCFP]

👌

[@MrJimmy-d2r]

How long it take to get my cash out from the TIAA

[@DominiqueHendersonCFP]

Depends on the plan rules, your age, etc

[@jayg9173]

Saving money is for suckers......invest in yourself.......dame dash taught me that

[@levzak1251]

thank you so much. Very good explanation.

[@socorrolopez3767]

Im a caregiver for a non-profit organization which is is funded through a University. I tried to withdraw but I was told I couldn’t, wasn’t given an explanation as to why I couldn’t withdraw, I even spoke to a supervisor, They just didn’t give me an answer as to why I couldn’t withdraw. Would you happen to know why I’m not able to withdraw?

[@DominiqueHendersonCFP]

+socorro lopez depends how you're invested. I have a client that had part of the funds in an annuity and you can't have it at once has to be payments over set amount of ears. That maybe the same for you.

[@awashteklehaimanot7754]

AT: How does the expense ratio compare with those of Vanguard or fidelity?

[@DominiqueHendersonCFP]

Haven’t done the comparison

[@lettyadorno]

I saw that Fidelity has an expense ratio less than 0,2%.

[@fkustaa]

I am 69, and can I withdraw some funds from my TIAA-Cref account to pay a debt without being subject to a 10 percent withholding and federal tax?

[@DominiqueHendersonCFP]

There are exceptions to the 10% penalty. The CARES act suspends those penalties for withdrawals made prior to age 59.5. But you can't avoid the federal tax--it has to be paid.

[@fkustaa]

@@DominiqueHendersonCFP Please explain this federal tax issue vis a vis this federal tax-it that you are referring to here. This is the main problem with this TIAA retirement account because the issue of taxes is always not adequately discussed. This federal tax issue is so confusing that I decided not to touch the money or invest it in some way.

[@DominiqueHendersonCFP]

@@fkustaa probably just best to schedule a session to get your questions answered.

[@fkustaa]

@@DominiqueHendersonCFP Who talked about federal tax avoidance? I am talking about the TIAA-CREFF that I did not choose to handle my money and retirement investment. I just don't want my money or investments to be handle by an organization like TIAA-CREFF that did I not choose because I cannot stand their nonsensical restrictions which they call federal tax avoidance. I just don't want to work with this organization because I find them to be an authoritarian and fascist organization. I have the right to take my retirement money anywhere I want. I am not married to TIAA-CREFF.

[@DominiqueHendersonCFP]

Download my ultimate pre-retirement checklist to make sure you're prepared at: djh-capital.com/blog/ultimate-pre-retirement-checklist/

[@DominiqueHendersonCFP]

SW no problemo 😉. Just to clarify you are referring to the overall plan or investment choices being “hybrid”? If the plan, it’s really because they’re so big. Larger companies have the challenge of scale just as others do when they don’t thoughtfully create a process or system to deploy/dispense actionable advice. Unfortunately you as a participant can’t say: “ I’ll not use you then.” With no incentive to change it stays the same.

[@durgmankikar]

Location of TIAA in Livingston, NJ

[@debravanausdale1063]

YES!

[@Dstromb232]

Nice video!

[@DominiqueHendersonCFP]

Thanks for watching!

[@ydkoo4193]

Is Tiaa one of 401K?

[@DominiqueHendersonCFP]

Usually 403b but it works the same

[@jdm4998]

I always thought that you can take out what you put in, just can't withdraw the earnings on what's put in until later in years.

[@DominiqueHendersonCFP]

As it pertains to what I said here JDM (kzbin.info/www/bejne/hXLRamV4gt2Jo8U) You might be referring to "after-tax" contributions (e.g. Roth) that allow you to take out contributions (or basis) tax-free, but not without penalty before age 59 1/2 (unless you meet exceptions). I know a ton of caveats. All pre-tax contributions will be taxed at withdrawal though. Hope that helps.

[@uceflucas20]

my job do not offer 401k. could i still open tiaa acount

[@DominiqueHendersonCFP]

Ucef Lucas you can open a self-directed IRA at TIAA or any other custodian like Vanguard, Fidelity, Schwab, etc.

[@uceflucas20]

@@DominiqueHendersonCFP thanks! Also do I could choose the amount I want to save or do they select that for me.

[@DominiqueHendersonCFP]

Ucef Lucas you can save up to the IRS max every year: www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-contributions. It is $6000 per year currently.

[@robertvazquez8706]

I had money in tiaa since I was 20 yrs old. I have nothing to show for it. This is the worst place to invest your money. I'm going to be retiring soon and I literally have nothing 😢to show for it. Thank tiaa for stealing my money

[@DominiqueHendersonCFP]

You can always roll it out. I’ve done that for several of my clients

[@Terrell_McClain]

Can someone who is enrolled in a TIAA take that money and roll it into an ira without penalty?

[@DominiqueHendersonCFP]

Typically yes. Unless it's in an annuity then you get payments vs a lump sum.