TIAA vs Fidelity

[fuzzy math]

I have the option to invest my retirement through TIAA / Fidelity or both. I've googled what TIAA is, but until I choose I can't really view (and hence can't quite get a grasp of) what they offer.
Could someone give me the "for dummies" version? Is it just access to the same funds that everyone buys elsewhere? Is there really an advantage to TIAA? My employer's Fidelity options include many low cost Vanguard funds.

[MrGville]

Is this for an employer sponsored plan?  If so, your question will be difficult to answer without knowing what funds are available. 

My IRAs are with fidelity and I am very happy.  Fidelity has their own family of funds that are essentially the same as their counter parts at vanguard. 

[terran]

The choice is highly dependent on the funds offered through each plan. You should be able to get that from your plan somehow.

My limited anecdotal experience looking at potential higher ed employers would say that TIAA is really only good when it's the only option offered because then it tends to have some good vanguard funds. If fidelity or vanguard is also offered, then TIAA tends to be all TIAA funds (which usually have higher than optimal expense ratios) and the other options are usually better. Go with whatever option offers the most vanguard and/or fidelity (index, not active) funds.

[CCCA]

I use Fidelity almost exclusively for taxable and retirement accounts (through work) but my mom's retirement is with TIAA.  WHen I help her with managing her accounts, I am always very annoyed by TIAA, both because their website is much worse than Fidelity's but also because her investmnet choices all have high-ish expenses.  Fidelity has funds that have expenses that are the same or even lower than Vanguard. 


So my suggestion would be Fidelity, but as others say, it pays to check the funds which will be available to you and their expenses.

[MrGville]

I use Fidelity almost exclusively for taxable and retirement accounts (through work) but my mom's retirement is with TIAA.  WHen I help her with managing her accounts, I am always very annoyed by TIAA, both because their website is much worse than Fidelity's but also because her investmnet choices all have high-ish expenses.  Fidelity has funds that have expenses that are the same or even lower than Vanguard. 


So my suggestion would be Fidelity, but as others say, it pays to check the funds which will be available to you and their expenses.

I completely agree about TIAA's website.  My wife's retirement plan is through TIAA, and it took me a while to get the hang of navigating their website.