2022 Financial Planning Cheat Sheet
403b plans are a common retirement account for teachers. Retirement investing for teachers can be confusing. In addition to pensions, teachers can have access to 403b and 457 plans. There are also considerations related to Social Security. It’s no wonder many teachers are scratching their heads.
⚠ Please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and investment advisors. 👍
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Tell me arent a teacher. Please.
Thanks for not clearing this up.
Awesome video! What would be the easiest way to determine if the investment you invested in is a mutual fund, index fund, or annuity?
So my district discovered that my investment company was contributing to my roth ira and not a 403b. So the company wants to move the money (3000) into a 403b and they offered to pay me the lost gains as well (500) if I sign a release that will indemnify them. They claim that both of these money moves will be non taxable events. Is that true? My teacher spidey sence tells me maybe not.
I let it randomly choose my 403b investment. the 20k 1yr has lost me 2k. my friend keeps telling me get fxiax. its still positive for him
My retirement plan is to work until I die.
Great video!
Thank you for sharing.
Hello and thank you for taking the time to break this down. Very informative. I know you’ve posted this a while back and I’m just seeing this now but, my wife was recently hired as a professor at a university and offered a 403b. Sadly did not know we had to manually set everything up. They have it automatically allocated between four different places at 25% each but that just seems too much to keep track of – they have it with TIAA, Fidelity and two other places I can’t remember offhand. We’re thinking about just having it at Fidelity and wanted to know if you recommend splitting it between different places or keeping it with one? Thanks.
I work for a school district in California and the only plan that was offered to me was the following: 403(b) Tax-Sheltered Annuity Plan and within this contract, the money is invested in the following: Vanguard total stock, mid-cap, and large cap mutual funds. I did have a positive return in 2020.
I'm a teacher and complete rookie to the finance game – I have the option within my 403b plan to choose Vanguard Total Stock Market Index (VITSX) – is that a solid option?
maybe talk about IUL insurance?
so how many Roth IRAs can one open?or does it have to meet the limit overall?
You speak in a way that is very humble and enjoyable to listen to. Thank you
Few harried teachers have the energy to become financial experts. So they just do what the retirement investment companies recommend while they have a few minutes to spend listening to the pitch and signing up. Few harried teachers make enough to put large monthly amounts in the plan – if all they have is their salary to live on. The various retirement plans are a relic from the past. Smart young people are beginning to realize there is no future, given the climate collapse and all the consequences.
403b plans have so many downsides to them…it is time to revamp the entire system. I made a video on all the dangers of investing in 403b plans. Change starts with education and awareness.
Thanks again for your super clear and informative videos! I really appreciated how you kindly noted that these retirement plans are very confusing, especially for someone new to investing. Would love to see a similar clip from you on CalSTRs. Are CalSTRs invested? Are there any interest rates or are they idle cash? Can we roll them over pre-retirement to invest?
Is VALIC good?
Thank You Sir!
I’m a teacher and have the 403b plan for about 10 years . Somebody told me to put the minimum and get the Lincoln plan. Im putting $500.00 every month on the 403b . Which Will you suggest for me? I’m in my 21 years of teaching and planning to retire in 8-9 years more.
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