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  1. Admin

    John Bogle has passed away

    It is with the utmost sadness that I share the news of the passing of John Bogle. I had the supreme honor to meet him several years ago. Dan Otter The genius of John Bogle in 9 quotes
  2. Universal Pictures has delivered a third (!) "Grinch" flick that I am not sure anyone asked for. Meanwhile, public school teachers continue to be subjected to horrific 403(b) plans. Sadly, one of our oldest stories continues to be one our most relevant. The 403(b) Grinch Continues to Steal the 403(b).
  3. Plus healthcare access, uncertainty, and cost.
  4. Admin

    Vanguard lowering er on target date funds

    Heard this was coming. Great to see it indeed did! Thanks for sharing.
  5. Great story by Ron Leiber and great work by MoeMoney!
  6. Reason 5,062 why we need a Fiduciary Standard: The Federal Thrift Savings Plan is considered gold standard by many (low fees, manageable number of choices, etc). The SEC alleges that four brokers targeted TSP participants nearing retirement with sizable balances. Guess what product they recommended? http://retireaware.com/2018/11/27/retirement-plan-providers-profit-from-participant-confusion/ The Allegations The SEC’s complaint alleges that four brokers (doing business as “Federal Employee Benefits Counselors”) targeted federal employees who were nearing retirement and who had sizable funds invested in the federal employees’ defined contribution plan (the Thrift Savings Plan or TSP). The complaint alleges that the brokers misled TSP participants concerning significant details about recommended variable annuity investments, including the associated fees and guaranteed investment returns. Most significantly, the brokers allegedly fostered the misleading impression that they were in some way affiliated with or approved by the federal government. In some instances, these TSP participants were led to believe that their funds would be invested in a product that was offered, vetted, or specifically selected by the TSP. According to the SEC’s complaint, the brokers sent investors written materials that obscured that the investment was a privately issued variable annuity with no connection to the TSP. According to the complaint, the brokers sold approximately 200 variable annuities with a total face value of approximately $40 million to federal employees, who used monies rolled over from their TSP accounts to fund their purchases. The brokers collectively earned approximately $1.7 million in commissions on these sales. (It should be noted that these are allegations by the SEC and the matter has not been fully adjudicated. However, two of these individuals settled the claims brought by the SEC and, as part of the agreement, have been barred from selling securities. Additionally, these four individuals are no longer registered to sell securities.)
  7. 403(b) Contribution Limit Increases to $19,000 for 2019; IRA limit increases to $6,000
  8. Admin

    TEACH and Retire RICH book review

    Steve, This is awesome and so thorough! Love how you weaved in your experiences. So clever! Thanks too for pointing out that rich means: "“Rich” is the ability to retire early with financial peace of mind, no debts, owning a nice home located at a retirement resort community, traveling, donating to worthy causes, with a financially comfortable nest egg." - Dan
  9. Admin

    ‘Magical’ or ‘Unsuitable’?

    Glad you were able to access.
  10. Admin

    ‘Magical’ or ‘Unsuitable’?

    Hey Tony, Hmmm. It opened for me. Try pasting: http://www.philly.com/philly/business/Fixed_Index_Annuities_Magical_or_Unsuitable.html?mobi=true or searching Magical or unsuitable. Let me know how it goes. - Dan
  11. Why fiduciary rule was needed
  12. Thank you, Michael! Looking forward to seeing the formal announcement.
  13. One of my favorite FIRE reads is the Mad Fientist. He just posted this on withdrawal rates: https://www.madfientist.com/safe-withdrawal-rate/
  14. https://www.ssa.gov/cola/ Maybe bump for 403(b) as well?
  15. Along with Scott Dauenhauer, Steve Schullo, Sandy Keaton and many others, I attended last week's RISE of California Retirement Investment Summit on Education in Sacramento. Here's my take: The Elephant in the Room. It would be good to hear perspective of others who attended.