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- What is Calsavers and should I opt out of it as a struggling . . . - Reddit
IRAs are accounts you (usually) open on your own, and you're probably better off doing that instead of sticking with CalSavers In fact, it might be smart to open a better IRA right now and transfer the money from your CalSavers account to it Even if you don't do that, CalSavers is a better retirement account than a regular savings account
- Is CalSavers a good idea? : r personalfinance - Reddit
The only administrative charge for CalSavers is in the form of an asset-based fee of approximately 0 825% to 0 95%, depending on your investment choice Source While there are certainly much worse expense ratios in some 401k plans you can easily get much lower expense ratios buying an index fund or target date fund from Fidelity, Vanguard, Schwab
- How to opt out of that CalSavers thingy? : r fresno - Reddit
California passed a law mandating employers offer a retirement plan CalSavers is kind of the "default" plan employers can use run by a company the state selected It is a Roth IRA type of account I believe there are limited investment options If an employer is already offering a retirement plan, they dont have to participate in CalSavers
- Is CalSavers worth it. Are there better alternatives?
But CalSavers is essentially a state run marketing scam to help employers look like they offer benefits packages Also, it will soon be mandatory for all businesses in the state who don't offer one of those other two alternatives and it will be an OPT OUT thing, which is something to look out for
- Any advice on what to do with my CalSavers? : r personalfinance - Reddit
CalSavers is an absolute joke and a racket Its a state run Roth so literally the worst of all worlds Any half shit employer should have their own deferred comp plan, they can call up any of the big names and get a plan going in a few days I would get any money moved somewhere else ASAP
- Calsavers’ Contribution Deducted from Pay Check but Not . . . - Reddit
According to my account my employer has not submitted a Calsavers contribution since June 2023, although my pay stubs show the deductions I reached out almost 2 weeks ago and have not received a response other than “I’ll look into it ” I also emailed Calsavers on Monday and am waiting for a response
- After reading about how bad calsavers retirement plan is, I am . . . - Reddit
Quick background: 36yo recovering addict, no money saved, I make 28k year and know nothing about finance in general I am eligible for calsavers for a few more days but after reading about it it sounds like there are much better options I absolutely need to start saving but I have no idea even who to talk to about starting this journey
- Opt out of CalSavers : r personalfinance - Reddit
CalSavers is a California state run retirement "plan" It is a mandate on all businesses with 5 or more
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