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MoeMoney

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About MoeMoney

  • Birthday April 13

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  • Gender
    Female
  • Location
    New York
  • Interests
    Cycling, learning, teaching

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  1. MoeMoney

    Fire Savers Race To Retirement

    MMM has extreme tendencies. Any reason in particular why you disliked his blog, Ed?
  2. MoeMoney

    Brokers Targeted TSP Participants

    Thanks for posting Dan. I ended up exploring Principal Review's site for the first time. It's wonderful. I wonder how many conflict of interest audits they've done in the 403(b) arena. I suspect that in schools where a TPA is used, the school would refer such requests to them. Unless of course, the school had the result of an audit first.
  3. Tony, From what I’ve read here, most of you here sound like you are FiRE people too, following the same tenets naturally before it became a “thing”. The difference is here, you’re mostly teachers. The portfolios I’ve questioned too but along the lines of investors opting for index funds vs. individual stocks. But we all can’t buy indexes without stocks being sold, right?
  4. Thanks to Ron Leiber for continuing to report. This article showed up on my NGPF group too, so the word is spreading. I continue to refer members from my other groups to this site as well as several teachers in school, on Friday alone. One teacher had the copy of Dan's book for so long that she finally ordered his newest one and brought my faculty copy back. Two teachers immediately wanted it. I spoke to new-hires on Fri, one who told me he asked a teacher who to use for his 403b plan and was told AXA. He told me he had the paper work, I told him to tear it up and showed him this group. We searched "AXA" and he got the message. I give him a lot of credit, at 22, just hired three weeks ago as a sub TA for now. One can hope...
  5. MoeMoney

    Perspective

    Yes, I agree that this framing directs your attention away from the higher expected returns, the ones that we all want and apparently expect when paying an advisor. It could be an answer to those who will yell at you for the poor returns. I think to focus the attention of the investor to ways their money is spent, and without any control of the spender in some cases, is helpful. Because one item they can control is to buy loaded funds or not and to control the investment fees in general. The summary did capture my attention, either way. I'm glad I'm not selling a house (6% is negotiable where I live), divorcing, or overpaying for a car. I do, however, pay 8.65% sales tax.
  6. MoeMoney

    Perspective

    Thanks for sharing, Tony. Jonathan puts things in perspective, that's for sure!
  7. Ouch, Tony. I believe it. That must have been so frustrating for you! A smart, savvy teacher, a union VP, told me he knows I'm right but he 'needs' someone to blame. And besides, his 'guy' is a former teacher who grew a big financial company so he "has to be doing something right". I'd defer them to Aspire and its advisor, our Tony Isola, who speaks the right language. That helps them out and hands them off to an initialed agent at the same time.
  8. Meaning, too often I see people asking for credentials (initials after their name) and will discount the logic of others who know from experience or self-education. Lay people think, for example, if you aren't a certified financial advisor you aren't qualified to know as much about investing. Of course, we know better though. Perhaps I am limited by that notion based on the number of teachers I see who hear the message about fee-laden 403b's but listen to the advisors anyway. They have "initial-bias". Does that make sense? It's getting late for this teacher...
  9. MoeMoney

    How To Be Richer Than A Millionaire

    Ed, nice work on your spreadsheet. I realize you based your data on a single person however it is noteworthy to point out that the household income is considerably higher, according to the US Bureau of Census. Steve, you're probably the only person I know who sees your wealth after taxes are paid! - kudos to you, a shrewd man indeed. That is probably why the FI peeps resonate with you so much- they take taxes into account and strategize ways to reduce their income to just below the taxable amount. They understand it really well.
  10. Yes, that's true. The other obstacle is getting them informed. In a country where you have to be credentialed to cut hair and apply nail polish, logic is trumped by initials.
  11. That's a generous community service you're providing. Thanks for sharing the link. We are 403b Ombudsmen!
  12. Well, if it's one teacher a day, that's one more than yesterday. It's true that the law and regulations need to be revised but something else has to be done in the short-term.
  13. MoeMoney

    How To Teach Your Kids About Money

    It's a good thing we like talking about our finances:)
  14. MoeMoney

    How To Teach Your Kids About Money

    Most people are more comfortable talking about their life than their finances.
  15. Ed, I don't doubt that those who find you want only to fix their own problem. Most teachers who come here do the same. How is it that they found your website in the first place? What kind of marketing or media do you use for it? Can you share your website again? The truth is, teachers have to first feel like they are being ed and care enough. From what I see, they don't right now. Why is that? If one teacher, then two, then three, talk about the overpriced salesmen, maybe it'll start a trend of correcting the wrong within the teaching community. These questions are obviously not meant to be answered and we've beaten that topic to death, I know. It's getting front and center in the online teacher's world that I'm thinking about. Is it plausible to join teacher forums and social media sites, and post comments there? I think so. I generally do not hang out on such sites. Yet. Steve, thanks for the reminder of all would-be wake up calls to the comatose.
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