Why I hate AXA 403(b)s [REVISED]

As part of the job that clients hire me to do, I review products that they are using. Recently, I’ve been looking at 403(b) products and was shocked with what I found. You would think that every 403(b) would be similar in price and structure as they do the same job, right? Wrong. As I found out through researching AXA 403(b)’s, they are, in my opinion, one of the worst products on the market. Yet, over 50% of teachers are using them to save for retirement.

 

Financial Security

 

Find out why I suggest every teacher dump their AXA 403(b):

 

[VIDEO REMOVED FOLLOWING PRESSURE FROM AXA’S LEGAL COUNSEL]

 

If you’re wondering why the video is no longer here, I have taken it down following written conversation with AXA’s legal counsel. They did not like some of the opinions I had about their 403(b) products and claimed my statements were inaccurate and misleading (Dave: but true). Being a one-man company, I’m surprised that my views are even on their radar – but they are. Given the resources that AXA has versus my own, it was easier to comply than fight on. 

If you’re interested in my thoughts on this product and why I don’t recommend it to any teacher, it’s all about the fees, poor fund choices and lock-in periods. You can read more about that here in the New York Times