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Admin

Admin
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Everything posted by Admin

  1. Admin

    403b loan question.

    Hey Michael, Great to hear from you. Thanks for superb contribution. I hope all is well. - Dan
  2. This is great news! Well done!
  3. Admin

    Disability Protection

    Important article on need for disability insurance from one of the members of our 403(b)wise Fiduciary Directory: Disability Protection
  4. Admin

    Why Teachers are Walking Out?

    This is the single best story I have seen on this topic. As Steve, points out, it really helps explain, without even mentioned the plan, why the K-12 403(b) largely stinks. As MoeMoney mentions, there is much original thinking in this story. - Dan
  5. Admin

    403(b) Choices

    Sorry for being a little late to this discussion. Kevin, thank you for sharing this, and thank you for trying to make sense of the insane world that is the K-12 403(b). Thank you too to all of the 403(b) advocates helping you out. I don't believe this was shared but if you want to use an advisor ask them these questions: https://403bwise.com/pdf/403bwise_Advisor_Questionnaire.pdf and make them sign this pledge: https://403bwise.com/pdf/403bwise_Fiduciary_Pledge.pdf We have created a special directory of fiduciary advisors who pledge to answer these questions and to sign the Fiduciary Pledge. These advisors will work across state lines. I know that Amy and Anthony are in the New York area: https://403bwise.com/directory
  6. Admin

    403b Questions/Options

    403bwise Discussion Board http://board.403bwise.com/topic/6120-security-benefit’s-neadirect-invest-vanguard-admiral-funds/ http://board.403bwise.com/topic/6400-security-benefits-nea-directinvest-vs-lincoln-investments-partic/ http://board.403bwise.com/topic/6803-choosing-a-403b-plan/?page=2&tab=comments#comment-37383 Bogleheads https://www.bogleheads.org/forum/viewtopic.php?t=180418
  7. I thank Steve Schullo for sharing this article. Brief in University of Pennsylvania 403(b) Lawsuit Points Out Differences From 401(k)s An amici curiae brief filed by the American Council on Education and other higher education associations details the history of higher education 403(b) plans. My Take: It’s an interesting argument being made by the American Council on Education: original design of University retirement plans permitted/acknowledged movement of faculty + 403(b) plan just different than 401(k). On one hand, I fear defendants in any K-12/non-ERISA lawsuits could use a similar argument: plan is different; high fees are part of the culture, but other argument would not fly: plan designed for employee movement. I suspect most K-12 teachers stay in place or move among one state. - Dan
  8. https://403bwise.com/k12/story/382
  9. Agreed. Let's hope he's successful!
  10. Some Colleges Bail from TIAA, Objecting to Increase in Fund Fees Groups in Wisconsin, Virginia combine members’ retirement assets to gain scale after TIAA raised fees on small clients. BTW: Will need subscription to read entire article.
  11. Admin

    Great resource for teaching Personal Finance

    Super helpful. Thanks for sharing.
  12. Admin

    LAUSD financial literacy workshop report

    Thanks, Steve. You, Sandy and the other organizers should be very proud. What a great event!!
  13. The NY Times and Tara Siegel Bernard and Ron Lieber, in particular, are killing it with this 403(b) series.
  14. Finally (!) a directory of fiduciary advisors for the 403(b) and 457(b) audience. 403(b)wise launches the 403(b)wise Fiduciary Advisory Directory Public 403(b) plans are notorious for expensive 403(b) products pushed by non-fiduciary sales agents. “Teachers, professors, nurses, and those who work at educational institutions, and non-profits don’t know who to trust when it comes to financial advice,” said Dan Otter, a teacher, and founder of 403(b)wise.com, a website that provides news and information, and advocates for better 403(b) plans. “It’s long been my goal to provide a resource of fiduciary advisors who understand the 403(b) and 457(b) plans.” The directory launched March 1, 2018 with eight CFPs®. In addition to being a CFP®, each has agreed to sign The 403(b)wise Fiduciary Pledge. Individuals who have been authorized to use the CFP® certification have met rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when dealing with clients. The minimum designation for inclusion in the directory is a CFP®. Currently 403(b)wise is not accepting applications from Registered Representatives or those licensed to sell insurance. The directory will will only feature fee-only, fiduciary financial advisors. For more information on applying to The 403(b)wise Fiduciary Advisory Directory.
  15. Good idea. Do you have any contacts?
  16. Admin

    We've cloned Scottyd

    New Wise : Speaking Directly (About Advice and Cloning)
  17. Admin

    We've cloned Scottyd

    Cloning takes years off your life (in a good way!).
  18. Admin

    Retire Early

    First of all, congratulations on how well you have planned for early retirement. Well done. Health care is always the biggest concern in this country when contemplating an early exit (sigh). I wouldn't be able to comment on the language of your employer's health care policy, but have you looked at the "Obamacare" exchanges in your area? This could provide a bridge to eligibility. Dan Otter
  19. Good summary of various financial professionals from Daily Worth: Excerpt: CFP. A Certified Financial Planner has earned professional certification from the U.S.-based Certified Financial Planner Board of Standards or one of its international counterparts. To use the designation, a financial planner must meet education, examination, experience and ethics requirements, as well as pay an ongoing certification fee. You might consider hiring a professional with the CFP designation if you are looking for someone to manage your investments or assist you with financial planning. (In order to sell securities, the professional must have a FINRA license.) CRPC. A Chartered Retirement Planning Counselor has completed a study course and examination from the College for Financial Planning and has in-depth knowledge of retirement planning. These professionals are trained in various sources of retirement income, retirement cash flow, asset management, estate planning and other related topics. RIA. A Registered Investment Advisor is an investment advisor who is registered with the Securities and Exchange Commission or a state’s securities agency. RIAs are held to a fiduciary standard, meaning “they must put the needs of their clients above their own,” Gabrielsen says. “They must put their clients in what they believe to be the best and lowest cost investments, regardless of how it impacts the advisor.” Other advisors, such as those on the broker-dealer or insurance sides of the business, are held to a suitability standard, which means they are allowed to sell a client a product that benefits the advisor as long as it is also suitable for the client’s needs. Professionals with the CFP, CRPC or other designations will be held to a fiduciary standard if they work at a RIA firm. click here to read entire story. --- Dan Otter
  20. Admin

    How To Find The Right Financial Pro

    Finally (!) a directory of fiduciary advisors for the 403(b) and 457(b) audience. 403(b)wise launches the 403(b)wise Fiduciary Advisory Directory Public 403(b) plans are notorious for expensive 403(b) products pushed by non-fiduciary sales agents. “Teachers, professors, nurses, and those who work at educational institutions, and non-profits don’t know who to trust when it comes to financial advice,” said Dan Otter, a teacher, and founder of 403(b)wise.com, a website that provides news, information, and advocates for better 403(b) plans. “It’s long been my goal to provide a resource of fiduciary advisors who understand the 403(b) and 457(b) plans.” The directory launched March 1, 2018 with eight CFPs®. In addition to being a CFP®, each has agreed to sign the 403(b)wise Fiduciary Pledge. Individuals who have been authorized to use the CFP® certification have met rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when dealing with clients. The minimum designation for inclusion in the directory is a CFP®. Currently 403(b)wise is not accepting applications from Registered Representatives or those licensed to sell insurance. The directory will will only feature fee-only, fiduciary financial advisors. For more information on applying to the 403(b)wise Fiduciary Advisory Directory
  21. Admin

    This Index Card Says It ALL

    Savers Celebrate As Stocks Go On Sale!
  22. Admin

    2017 Return, costs and asset allocation

    Steve, This is such great information. - Dan
  23. Hey all, It's finally happening: We are launching an Advisory Directory made up of CFPs knowledgeable in the 403(b) and 457(b). If you know any advisors who might be interested please share: http://403bwise.com/advice/advisor_request It will take time to build a national network but we are confident we can help provide a valuable resources for those looking for quality advice. - Dan
  24. Admin

    Vanguard 403b Services A Mess

    Hey Tony, I am thanking you for both sharing this and helping this person. I am also pointing out that I have had trouble with them as well. It may take the Newport folks some time to get up to speed. But again, this is good info for the 403(b) community. - Dan
  25. Admin

    TIAA Traditional

    My experience with TIAA Traditional: http://403bwise.com/wisecracks/entry/309
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