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  1. Yesterday
  2. Appreciate the honest feedback. In terms of Facebook Ethics (oxymoron?) this was a very tough call. Our hope is that a better, more ethical platform that is popular with teachers emerges. Steve M., we hope that you will still visit 403bwise.org. Always feel free to email me direct at dan@403bwise.org
  3. This is terrible news. I have learned much from the discussion board over the years. I will not do business with Facebook nor do I think should you. I'm very disappointed.
  4. Last week
  5. This has been a wonderful resource and I"ve learned so much. I don't love FB but if you want to reach folks, especially those starting out maybe needing the most assistance, then I guess FB is the way to go. You certainly have a good number of involved folks there. I hope you'll archive and maybe link to some/all of the great experiences shared on these pages. I'll continue to follow on FB. And always, thank you for ALL the hard work you've ALL done over the years--Scott, Dan, Steve (I hope I remember correctly) and the knowledgeable and helpful frequent responders from across the country. While it took awhile (and back when you couldn't contribute directly to Vanguard) the information on this board, and from the Bogleheads, supported me as I insisted on rolling over all my 403b7 and 457 funds when I retired (lots of arguments from my required 403b provider--I hated them!). Along with understanding the value of index funds, it was the best move ever. Kudos to all the younger folks who are learning about this through the FBG.
  6. Hey All, Given the popularity of the 403bwise Facebook Group we will be closing this Discussion Board on 12.14.21. It was a difficult decision as this Forum has been a space for the sharing of so much excellent information since 2003! We just don't have the capacity to monitor both the FBG and this forum. We are no fans of Facebook (or Meta) but FB Groups allows to control who is allowed in. Plus it is (currently) devoid of political and advertising content. We were skeptical about using FBG two years ago when we relaunched 403bwise as a non-profit. Frankly, we have been blow away by how popular our FB Group has been (5,400+ members as of today). So much excellent information has been shared there. We hope to see all of you on the FBG in the future. Thank you again. - Dan
  7. @sschullo Thanks for being a part of my group of young people πŸ˜‰ FIRE has had the utility of being a talking point for saving money. As I get older, I question how large of a movement it really is and if it is healthy for people to enact. If I retired early, I wouldn't be able to go back in time to gain additional pension years of service or social security credit. Rolling the dice with healthcare isn't something I want to do to myself or my wife, so calling a career quits would be a hard decision no matter the age. FI is an interesting marriage of frugality and investing. https://www.cnbc.com/2018/05/14/warren-buffett-says-the-most-important-decision-is-who-you-marry.html https://en.wikipedia.org/wiki/The_Five_Love_Languages If we could have afforded a home or felt more comfortable carrying a million dollars in mortgage debt, I'm not sure we would have investigated 403/457 accounts. It really took us going from SINKs to DINKs that made me start looking into optimizing where to invest our money to build toward something. The CNBC link above is an important reflection - I'm certainly fortunate to have a loving, frugal, and supportive spouse who I owe much of my growth and success to. We wouldn't be in the financial position we're in without each other. (That's certainly more of a hindsight reflection than financial advice you can push on people.) My dad is in his early 70's and taught me many of my thrifty ways. He's certainly a product of his time. He grew up in a single parent household, with two younger siblings, where making ends meet was a concern. They bought few things and self-maintained those things to get the most out of them. (To this day he still has a Rainbow D2 vacuum cleaner.) I'm not sure he would have attended college if not for the Vietnam War - enrolling was a means of delaying the military draft. The 4yr degree he obtained changed the trajectory of what he was able to earn, but the company he worked for went into bankruptcy, so his company stock became worthless. It's not the brightest Silicon Valley story, but it's also not the worst. https://affordanything.com/your-money-or-your-life/ https://yourmoneyoryourlife.com/book-summary/ "Your Money or Your Life" by Vicki Robin really echoed what I already been taught, with an extra focus on finding "enough" to be content in life. I used the income/expenses wall chart in Excel to help try to grow the difference between the two. It helped to visually focus on creating net income to invest. The author is 76yo, so a few people from your generation laid the foundation for good things. I've helped arrange 403bwise presentations and done a few of my own to motivate colleagues get their accounts started. Someday I want to pick your brain about how LAUSD arranged its 403/457 oversight/review committees, or I need to re-read your books over the holiday break.
  8. Earlier
  9. Hey Scott, Thanks for the update and congratulations on being a super advocate! We need more teachers who know the FI and FIRE community. Not all of this may apply to you personally, but hear me out. When I think about you, I think about those young people who frequent here such as you with the FI and FIRE communities. You are part of a very tight net group of young people that know how to support each other and communicate for the greater good. I really admire the courage you have to learn investing, frugal living, traveling from each other through these events all over the country, and to stand up against consumerism. You have shown that one doesn't have to work at a job that they don't like forever, have chronic car and mortgage payments with crap you never need and that's its possible to find financial independence at a much early age than ever thought possible. My generation changed retirement life from playing golf, reading the paper and drinking coffee and or martinis to doing something different and rewarding. But we thought we had to work till 65. My generation had an anti materialism movement but was abandoned for bigger homes and expensive cars, and going into debt like never before. Your generation lived through just too many stock market crashes and said enough is enough when you experienced your parents losing half their their 401ks in 2008. Keep up this great work. It takes a lot of courage to put yourself out there and spread the message of financial independence. Dan and Scott need more stories from teachers to get our movement off the ground. Thank again ScottO Steve
  10. https://teachandretirerich.libsyn.com/community-college-super-advocate-191 Dan & Scott interviewed me as a part of the Teach and Retire Rich podcast - Ask me anything. Here are a few of my fav resources: https://www.bogleheads.org/wiki/Prioritizing_investments https://www.bogleheads.org/wiki/How_to_build_a_lazy_portfolio https://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street https://business.fhda.edu/payroll/d-tax-shelter-annuities-403b-and-deferred-compensation-plans-457b/preferred-vendors-list.html https://www.reddit.com/r/Bogleheads/ https://www.reddit.com/r/personalfinance/ https://www.reddit.com/r/povertyfinance/ https://youtu.be/gvZSpET11ZY
  11. ScottO

    iBond offer

    @sschullo Very cool - thank you for sharing your mindset and approach to utilizing i bonds as a part of your portfolio. Sounds like it has been a beneficial toward meeting your investment return goals πŸ‘
  12. Why Me

    iBond offer

    I've recently bought some ibonds for the first time, though I'm contributing so heavily to tax-favored retirement accounts this year that I won't be able to find the full $10,000 for the year, unless I liquidate an investment. These have become interesting to me in a way that they would not have been in the past, because I'm on the verge of retiring. Available cash that will not decline at the whim of markets becomes much more attractive when planning to draw income from the portfolio rather than add to it. Scott, one reason you might consider these is as an emergency fund. I Bonds seem like a great option for that, safe and separate from other assets, and they can be built to a substantial amount over a few years. (As you know, one can't withdraw anything for the first twelve months. After that, the 3-month interest penalty through year 5 would be a non-issue in an emergency.).
  13. Hi Scott, I have had a tiny position in treasury direct since 2005. I don't anticipate making any more than the inflation rate. My strategy is to reduce risk that's all and diversify among the bonds. My iBonds allocation is tiny. Timeline? Interesting question to a 74 year old who has got about a decade left of quality life IF I am lucky. I have a ton of money sitting on the sidelines because of a recent sale of my home, and this is one place to DCA into my current portfolio. I am not adding any more investments. Ill let my descendants decide on what they want to do with it. In the meantime, there are no costs and my initial $10,000 grew to $16,512 in the last 16 years. According to my calculation the annual return is about 4.1% before taxes. Its a 30 year bond but I can cash it out after five years to get the full return without 3 month interest penalty. I don't intend on cashing it out as I will have to pay ordinary income taxes. Steve
  14. ScottO

    iBond offer

    Additional links: https://www.msn.com/en-us/money/savingandinvesting/savings-bonds-now-come-with-a-7-interest-rate/ar-AAQkBTR https://www.cnbc.com/2021/11/02/sweating-inflation-this-risk-free-bond-pays-7point12percent-for-next-six-months.html https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm https://www.msn.com/en-us/money/savingandinvesting/hidden-in-plain-sight-is-a-u-s-treasury-yielding-more-than-7/ar-AAQDMDf https://www.msn.com/en-us/money/savingandinvesting/the-little-known-type-of-bond-thats-paying-712-25-in-interest-right-now/ar-AAQf2Lj How much do you anticipate making on your $10k investment? What timeline are you looking at? 1 year? 15 months? 5 years? It's an interesting opportunity for a brief period. It doesn't fit into our current investment plan for the remainder of 2021. The "don't just do something, stand there," boglehead credo makes me hesitant to add another investment to our mix. (Another article referenced a net gain of $530 for all the effort.)
  15. Because of the inflation rate, my iBond rose significantly in the last few months. I will be adding to my tiny position $10,000 this year and $10,000 in 2022. Here is a discussion on Bogleheads for more info: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=362146&newpost=6325522
  16. Hi, Scott. I think this link will also work: https://board.403bwise.com/
  17. The discussion board link is still on the site: https://403bwise.org/community/board I joined the Facebook group for a moment, but then the whistleblower stories popped up and I felt dirty using it, so I deleted my account again. r/Bogleheads and r/PersonalFinance are pretty good on Reddit... Thanks for sharing the news about the IRS contribution increases πŸ‘
  18. Thank you, Deb. I like this format, too, but the board admin has phased out the discussion forum in favor of a Facebook group; this destination is more-or-less invisible to new users of 403b wise at this point, hence there's minimal activity. However, I see that a few well-informed members of the old guard do seem to keep an eye here, so you (or anyone) can probably still get good feedback if you/they post here. But there won't be a lot of eyes considering whatever you post. For that, I recommend the Bogleheads forum. (The Facebook group may be providing a robust 403b-centered discussion at this point, I don't know, I avoid Facebook.)
  19. Thank you for the heads-up. I still like the forum for what it’s worth.
  20. Hello to anyone still looking in at this board. The IRS has announced the contribution limits for 403b and 457 accounts in 2022. The basic limit is raised by $1000 (to $20,500), the over-50 catch-up amount remains unchanged at $6500. Details here: https://www.irs.gov/newsroom/irs-announces-401k-limit-increases-to-20500
  21. It seems foolish that your non-profit does not have a TPA. Their 2 vendors will pay the per employee TPA fee. Aspire will use part of their $40/yr fee they charge employees to pay TPA fee. They add only 0.15% to low-cost Vanguard or Fidelity funds. Vanguard will collect the fee from the employee and forward it to the TPA. I think it's likely that Vanguard is not interested in being a vendor for a non-profit that has no TPA. I think I would just invest in a Vanguard or Fidelity or Schwab taxable brokerage account. It can be tax efficient if you use stock index funds like the Total Stock Market Index fund. You can organize monthly withdrawals from your bank, so that it's all automatic.
  22. I work for a pretty small non-profit which offers a 403b as our only retirement account option. Unfortunately, the only vendors we have access to are Invesco and, you guessed it, Equitable (AXA). I've been going back and forth with our HR department (which essentially consists of one person) and executive director since the spring, trying to get an additional vendor added. After initially telling me I could use whichever vendor I wanted, when I connected HR with the Vanguard 403b department, they reversed course and said it was too complicated since we don't have a third party administrator, and if I wanted to contribute, it would have to be to one of our current options. Given how uninformed HR is about this, I highly doubt they are handling all the paperwork required of a plan sponsor. Is it possible that AXA and Invesco handle all that themselves? If so, are there any low-cost vendors that we could work with in the same manner, sans TPA? Since my work seems open to adding a new vendor, but HR is unwilling to do anything about this, I'm just trying to do as much of the work as possible for them in hopes of moving it along. Any suggestions are appreciated. Thanks.
  23. Some posters on teachandretirerich and Friends of Vanguard FB groups shared their 12 month return instead of YTD. Not sure why. My 12 month returned 10.4%. The equity allocation creeped up to 40%/60% is one reason my return was double digit. I sold my home last July and I inserted the cash in VG MM, and its going to sit there until I decide to DCA into my current AA. Now my stock bond split is back to about 31%/69%.
  24. You young kids and your tweets... I re-watched the episode over the weekend and it's all still very valid. Maintaining an understanding of the impact of fees and that "advisors" aren't working in your best interest are good concepts to revisit periodically.
  25. Next quarter at the end of the year, we will have this same conversation. LOLs!
  26. To change a percent to a decimal so you can multiply or divide, move the decimal point over 2 places to the left. So 0.064% = 0.064/100 becomes 0.00064. 😊
  27. Thanks for the fix. I been told that many times but my math phobia seeps in. 6.4/100 is my cost. For calculating the dollar amount would be .00064? or .0064? as I indicated in the footnotes, not sure how the Treasury collects fees or even if they have any. Tiaa fees are the spread as I understand it.
  28. Thanks Scott, I did not of the reposting. Ill see if Martin might be interested if I can connect with him on my twitter feed. Steve
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