Teach and Retire Rich

More than 20 years ago legislation (AB2506) was proposed to allow California school districts who wanted to reform their 403(b) plan to be able to reform their 403(b) plan. The industry  hated the proposal. It threatened their multi-vendor, high-cost, agent-driven model. We speak with former TIAA-CREF Regional Manager, Dick Shafer, whose company spearheaded the effort to fix the broken California...

Equitable fires agent who threatened teacher. Delaware has an excellent low-cost, state-run 403(b) plan. We discuss.  Equitable Agent Threatens Teacher (blog) Equitable Agent Threatens Educator (pod) Truth About SIOs (pod) 403bwise Facebook Group 403(b) & 457(b) Basics: How to start a 403(b) (pod) 403(b) & 457(b) Basics: Asset Allocation (pod) Nothing presented or discussed is to be construed as i...

In episode three of our new pod series: 403(b) & 457(b) Basics, Scott and Dan explain how to get exit a bad 403(b). It's often difficult but very possible.  Stuck in a Bad 403(b)? How to Get Out of Equitable/AXA Bad 403(b) Vendors w/Good Choices 403bwise Facebook Group 403(b) & 457(b) Basics: How to start a 403(b) (pod) 403(b) & 457(b) Basics: Asset Allocation (pod) Nothing presented or discussed...

We check in with Jeff York on how retirement's going and discuss his attempts to hire an estate fiduciary who would act as the trustee of his estate.   The Wealthy Custodian (pod) The Wealthy Custodian in Retirement (pod) Questions to Ask a Professional Fiduciary   Learned by Being Burned  (short pod series about K-12 403(b) issues) 403bwise.org Meridian Wealth Management Nothing presented or disc...

No doubt that summer is a great time to relax. It can also be a good time to make sure your financial house is in order. Dan & Scott discuss wise money moves, and Dan talks about taking out his first ever car lease.  State of Student Loans? Chaos (pod) The Importance of Asset Allocation   Tripit Learned by Being Burned  (short pod series about K-12 403(b) issues) 403bwise.org Meridian Wealth Manag...

Plan consultant Barbara Healy, CFP® and her colleague Jackie Fabitore-Matheny, had the solution to what woes the K-12 403(b) more than 25 years ago. Imagine if districts had listened? We talk with Barbara about what could have been (and what might still be).  Barbara Healy EGTRRA Industry Lobbyist Brian Graff Describes How Many Vendors His Retirement Plan Has (1:03 mark) Learned by Being Burned  (...

Student loan expert and financial planner David Gourley updates Dan and Scott on the volatile state of student loans (particularly PSLF loans) right now.  K-12 Planning Public Service Loan Forgiveness Learned by Being Burned  (short pod series about K-12 403(b) issues) 403bwise.org Meridian Wealth Management Nothing presented or discussed is to be construed as investment or tax advice. This can be...

Tennessee passes an anti-pubic employee law that will subject teachers and others to private company financial sales pitches. We break it down into three parts: 1) What it is 2) What we dislike about it 3) What teachers and state employees should do. Tennessee Throws Teachers to the Wolves (Blog Post) Tennessee Legislators Illegally Voting with Sticks (John Oliver) Learned by Being Burned  (short...

The Los Angeles Unified School District created its own 457(b) plan, and it's excellent. It has won not one, but two awards. We speak with two members of the LAUSD Retirement Investment Advisory Committee who were and are instrumental to its success.   LAUSD 457(b) Deferred Compensation Plan Fund Lineup Learned by Being Burned  (short pod series about K-12 403(b) issues) 403bwise.org Meridian Weal...

Who better to make sense of the tariff situation than one of our favorite guests, Cullen Roche, economist, and founder and chief investment officer of the Discipline Funds, a low-fee advisory firm.    An Autopsy of American Exceptionalism Three Things - China Deal Learned by Being Burned  (short pod series about K-12 403(b) issues) 403bwise.org Meridian Wealth Management Nothing presented or discu...

Scott finds out just how much commission Equitable salespeople get for selling EQUI-VEST products. No wonder they fight reform so hard. No wonder they love to initiate exchanges.  The Price of Enrollment Podcast on SIOs Plan Fee Disclosure Form for University of Jamestown Equitable Plan Fee Disclosure Brochure Learned by Being Burned  (short pod series about K-12 403(b) issues) 403bwise.org Meridi...

Who better than best-selling author Morgan Housel to help put April's market volatility in perspective? Well we couldn't get Morgan on the pod but we have the next best thing: Morgan Houselisms! Enjoy.  9 Charts on Trump's First 100 Days in the Markets Learned by Being Burned (short pod series about K-12 403(b) issues) 403bwise.org Meridian Wealth Management Nothing presented or discussed is to be...

Retired Los Angeles Unified School District teacher, principal and district administrator, Mary Ann Sullivan, is now officially a CFP®! Not only that, she is opening an advice-only, fee-only firm.  Note: Mary Ann meant to say that the number of experience hours needed for a CFP® is 4,000 for apprenticeship and 6,000 for standard pathway (not the 2,000 and 4,000 hours respectively that she mentione...

In episode two of our new pod series: 403(b) & 457(b) Basics Scott and Dan look at asset allocation. They describe what it is, why it's important and they go over several strategies for allocating a 403(b) and a 457(b).  Importance of Asset Allocation by Barb O'Neill The Price of Peace: Why diversification is difficult, but necessary by Nick Maggiulli Risk Tolerance Assessment Cullen Roche Discipl...

Barbara O'Neill, PhD, CFP, AFC, owner/CEO of Money Talk: Financial Planning Seminars and Publications, and a monthly columnist for 403bwise talks spring cleaning your personal finances.  Spring cleaning is more than deep cleaning and decluttering. It is a great time to neaten up your finances.  Spring Cleaning Your 403(b) and Personal Finances The Truth About So-Called "No Fee" Products Meridian W...

Nicole and Larry Dubill, two Buffalo, NY area educators, share passion for education, music, and 403(b) advocacy.  Cleveland Hill School District 403(b/457(b) Vendor List Hamburg Central School District 403(b)/457(b) Vendor List The Truth About So-Called "No Fee" Products Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can...

Teacher who sought to educate colleagues about the 403(b) gets threatening email from Equitable. We read and discuss correspondence. Read the letter The Truth about Structured Investing Options (SIOs) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Erin Witte, Director of Consumer Protection for the Consumer Federation of America, discusses the work she does protecting consumers in the face of a very anti-consumer climate.  Erin Witte Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Anonymous attendees dish on remarks made at a recent conference by leaders of lobbying group working to keep broken multi-vendor, sales agent-driven K-12 403(b) market in place.  Audio + Transcript of Brian Graff LAUSD Appearance Video of Brian Graff LAUSD Appearance NTSA Puts the Tax in the K-12 403(b) Vanguard Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be constr...

We debut a new pod series: Basics of the 403(b) & 457(b) . In this series, which will eventually get its own channel, we will go over the basics of how these plans work, and how they can be used to save wisely for retirement. First off: How to Start a 403(b).  403(b) Basics CalSTRS Pension 2 Enrollment Fidelity Enrollment (need an Employer Plan number) Vanguard Meridian Wealth Management 403bwise....

Teacher gets phishy email from Equitable salesperson. Does it violate FINRA section 2210(d)(1)(A) and (B)? Equitable to Pay $50 Million Penalty What's That Phishy Smell in Your Inbox? Learned by Being Burned  - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax adv...

Lucretia Ryan, financial writer, educator, philanthropist and founder of FinancialFreedomforWomen.org., discusses the options for getting health insurance before age 65. Dan discusses his sudden need for a new healthcare policy.  Retiring Before 65: How to Avoid Health Insurance Nightmares Choose the Best Medicare Plan Congressional District Interactive Map: How Much Will ACA Premium Payments Rise...

We catch up with New Jersey high school business and personal finance teacher Chris Nye, one of the best 403(b) advocates in the country. He talks teaching personal finance, how teachers may have an excellent 403(b) choice already available and don't know it, and pension drama in New Jersey. Fight for Better (our first pod with Chris) Adding a 457(b) is As Easy As 1-2-3 (Chris's second appearance)...

Scott and Dan look at the Employee Retirement Income Security Act (ERISA) which brought a fiduciary standard to most retirement plans. The act went into effect in 1974 but is beginning to show its age.    How a 50-year-old law changed retirement and why it needs a facelift Dawn of ERISA Man with a Better Plan - We almost had a simpler retirement system Learned by Being Burned  - Short pod series a...

Barbara O'Neill, CFP®, AFC® and Scott Dauenhauer CFP® break down the recently passed Social Security Fairness Act and what it means for some educators. They cover why the WEP and GPO were first put in place and what it's repeal means for: Those currently collecting Social Security benefits Those new eligible to collect Social Security benefits Those lacking enough credits to qualify for Social Sec...