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  1. Just listened to the Mad Fientist podcast about the producer of a new documentary that features all of the heavyweights in the Financial Independence Retire Early movement. I love the anti-consumerism built throughout. These young people get it, they will NOT be part of the borrow and spend, "keep up with the Jones" crap that the older generations have bought into 100%. The 90-minute documentary will be out sometime early next year. Can't wait to watch it.
  2. sschullo

    Feedback on SEC Rise Conference in Sacramento

    Hey Sandy, Welcome to this board. We need your voice! Steve PS Sandy and I have known each other for 20 years. We organized an informal informational group at a restaurant for years to help teachers. Back in the day, NOBODY was dealing with this problem that has not changed much in 20 years. She has also worked very hard to bring formal investing workshops to the Los Angeles teachers union.
  3. sschullo

    Feedback on SEC Rise Conference in Sacramento

    We don't know. All we know is this: The San Francisco and the Los Angeles SEC offices are the only ones I know who have stepped up to the plate to help the education profession deal with the predators in the 403b. They responded to the NY Times articles two years ago. The Consumer Federation of America has also chimed in. We are attempting to find out what they can do. Unfortunately, both CalSTRS and SEC have their own compliance hands tied behind the backs and probably cannot help much. At the summit, each speaker had to say "What I say here doesn't represent the SEC." Scott and Barbara (our committee consultant) who are the best fiduciaries in Calfornia and know the state insurance laws here were not asked to speak. The only two nonprofessionals who were on the panel were from the CTA, both were chairs of the CTA retirement committee. There was one member from the state insurance commissioner who only spoke about what they do for all insurance policies. Nobody mentioned the hideous 770.3. I was very happy they put this together. I met the Vanguard rep and some old friends from TIAA.
  4. sschullo

    $1.50 gain in my portfolio!

    Update! Today my portfolio, which is in the 7 figures, lost $2.54 today! I find that fascinating. It is amazing that so much money can either gain or lose so little on some days. But this is the 2nd time in two weeks. DOW up 122 but the NASDAQ down 37, yet my total stock market ETF went down with the international stocks. But my total bond market went up offsetting the losses in equities.
  5. Financial Independence Retire Early (FIRE). I attending one of their conferences last summer. Most of the information about frugal living is not new to us. But there is a generation of young people who get it at a very young age! They find the borrow and spend practice hideous and they abhor the stress over this totally unnecessary materialistic living (big homes, new cars, and all of the other crap). They are beginning to realize there is another way. But they are fighting a fierce competitor: American Consumerism Culture. And it is not going away anytime soon. Our teacher colleagues may not be into this. But as public school teachers, we all have something that very few young people in the private sector have--a pension. Yet, they strive for FIRE! Trailer: https://www.madfientist.com/travis-shakespeare-interview/
  6. Here is what Tony Isola wrote about this article: http://tonyisola.com/2018/10/teachers-retirement-plans-are-an-epic-fail/
  7. sschullo

    Q3 YTD return report

    I got a whopping 1.9% return after three quarters. My total bond market index has predictably dragged my return down by increased interest rates this year, 3 rate increases. BTW, I am not being sarcastic. That's how bonds work in an increasing interest rate environment. But we all want more return and will finally have a little more fixed account return in about five years when most of the bonds in the index fund will mature and the new higher interest bonds will replace the old bonds.
  8. This must be our primary job, to share these important but rare reports until enough teachers read them and start a buzz. I am told that Bloomberg or Forbes will be out with a report too.
  9. Update on the specific speakers at this Thursday's 403(b) and 457(b) summit: SEC Summit Oct 2018 AGENDA UPDATED.pdf
  10. NOTHING NEW HERE as we all know these stories well. This is probably the 35th or 36th article published since 1998. https://www.cnbc.com/2018/09/28/why-these-teachers-retirement-plans- arent-making-the-grade.html If you have colleagues on an email list, twitter, FB or LinkedIn accounts, pass it on.
  11. Pushing this up. A week from today!
  12. sschullo

    District 457 Approval

    Thanks for pointing this out. We all have horror stories. Its worth repeating what the sales person who has no compassion whatsoever, "They're on the list." Those people will NEVER change either. It is utterly incomprehensible that many teachers become these ice-cold people who ONLY think about their best interests. With my money in Vanguard, I know it is out of the hands of much of the insurance and financial institutions of this country. But it's not just me, it's you, Tony, Ed, Dan and Scott, and over 20 million additional Vanguard clients also sense that something stinks with the vast majority of industry people who get lucrative salaries and commissions to manage our money.
  13. sschullo

    $1.50 gain in my portfolio!

    What is wrong with reporting dividends? It's an important part of return also! That's why I keep my money away from all the brokerage houses. They play too many little useless and expensive games with the data. I used Schwab 20 years ago. But got simple with all of my money in Vanguard, and TIAA.
  14. sschullo

    Best 457 vendor?

    Great. let us know what happened. Steve
  15. sschullo

    District 457 Approval

    If you can roll over money from a previous employer, roll it over to Vanguard, not another employer's plan. Its called a 403b rollover IRA. You are getting lots of information from very smart people here (I am not one of them, I am more passionate about this than accurate) that took a long time for me to figure out. I would stop and take a breather. Do not worry about other IRAs for now. Just get started with your current employer and their current plan. There is no RUSH to do rollovers or transfers, first things first!