Hello all,

I'd like to thank you for helping me to learn more about TIAA-CREF over the past few months as I've lurked here. Through a combination of your advice here and a bit of Boglehead advice, I think I am finally starting to understand my retirement investments.

I am 34 and currently have a total in the low five-figures invested in both a 403(b) account and a Roth IRA. All investments are with TIAA-CREF. I am just finishing graduate school right now and will be starting a tenure-track position in the fall. Once there, I will be contributing about 10% of my salary to a 403(b) with TIAA-CREF and the university will be kicking in another 10%. I will also continue to contribute to my Roth IRA. I want to get my ducks in a row before the busy first semester comes along.

Right now I have a very simple portfolio (intentionally so) that looks like this. This represents my combined retirement investments:

CREF Stock 80%

TIAA Real Estate 10%

TIAA Traditional 5% (403(b))

CREF Inflation-Linked Bonds 5% (Roth IRA)

The idea is that the guaranteed/fixed income instruments total 10%. When I start at my new university, my 403(b) contributions and matches will quickly dwarf my Roth and I will end up with more Traditional than ILB. I am just fine with that and am aware of both the benefits and restrictions of Traditional.

I have a few questions:

1) Does this seem reasonable?

2) As I get older, I will clearly be increasing the percentage of bond-like funds but I wonder if this can also be accomplished by first increasing allocation to TREA (up to a total of 15% or so). On a deeper level, does TREA function more like equity or more like bonds—and to what extent? Has your opinion changed based on the recent flattening out of returns?

3) For someone in the accumulation phase who will not be jumping in and out of funds but will instead try to "stay the course" (sorry for the Boglehead language), what percentage of TREA do you think would be beneficial? If it were an REIT I would probably not feel comfortable going over 10% but I know it is not an REIT...

I look forward to hearing your opinions (I know there is no "right" answer) and to participating in this forum over the next few decades!

Cheers,

Dan