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Everything posted by Admin

  1. Hi Megan, Welcome to the site and I apologize for my tardiness in getting you approved to post. Do you have a Roth IRA? If not, you could start with that at say Vanguard and then work to get better 403(b) choices. Here's a story comparing the 403(b) and the Roth IRA: https://403bwise.com/k12/content/23 Also, what state are you in? - Dan
  2. Scott and I had the privilege of attending (along with 403(b) warrior Nancy Bachety) and presenting at the Next Gen Personal Finance Changemaker Summit 2019 in San Fransisco this weekend. You can read about this amazing event here. So many highlights including Steve Schullo getting a shout out from the great Bill Bernstein. - Dan
  3. Hat's off to you as well, whyme. I am hoping this becomes a growing trend. I know NY Times digital subscriptions have been growing: https://www.nytimes.com/2018/08/08/business/media/new-york-times-earnings-subscriptions.html I still contend that of all of the 403(b) stories, no series meant more to the movement than Tara Siegel Bernard and Ron Lieber's work for the NY Times https://www.nytimes.com/2016/10/23/your-money/403-b-retirement-plans-fees-teachers.html
  4. Good to hear about LA Times subscription. Their new owner is pumping money into them. Several years ago I decided to subscribe to a wide variety of media. When you get the Sunday NY Times delivered like we do, you get access to online as well. - Dan
  5. An Unlikely Effect of Jack Bogle’s Creation: Helping to Keep Inflation Low by The New York Times Excerpts... In January alone, the Bureau of Labor Statistics found, overall portfolio management costs in the United States “plunged 5.2 percent,” Michael Feroli, the chief United States economist at J. P. Morgan, said in a note on Feb. 14. By December 2018, Vanguard accounted for 24.8 percent of all stock and bond mutual fund assets in the United States, according to Morningstar. And Vanguard and BlackRock together controlled more than 34 percent of those assets. The two companies continue to attract enormous sums of money around the world: $176 billion flowed into Vanguard last year; $167 billion went to BlackRock. Fidelity was a “distant third’ with $24 billion, Morningstar said. --- Note: I am a NY Times subscriber and we need great journalism more than ever. I hope you will support great journalism. - Dan Otter
  6. Thanks for posting Tricia C., and thanks to the community for their feedback.
  7. Great discussion. It was asked if this was a new article by Joel and it is. - Dan
  8. Tax Deferred Investing: The Unexpected Tax Trap Many assume taxes will be lower in retirement. This may not be the case when Required Minimum Distributions (RMD) kick in.
  9. Hey 403Learning, Glad site can be of use. We have a great discussion board community. Did you try checking his CFP credentials: https://www.cfp.net/utility/verify-an-individual-s-cfp-certification-and-background
  10. Hi and welcome to the board. You mentioned that this individual was a Certified Financial Planner. Can you confirm that was the case? Thanks. - Dan
  11. Hey Diosanny, Welcome to the board. Do you have a 457(b) option?
  12. 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
  13. 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).
  14. Plus healthcare access, uncertainty, and cost.
  15. Heard this was coming. Great to see it indeed did! Thanks for sharing.
  16. Great story by Ron Leiber and great work by MoeMoney!
  17. 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.)
  18. 403(b) Contribution Limit Increases to $19,000 for 2019; IRA limit increases to $6,000
  19. 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
  20. 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
  21. Thank you, Michael! Looking forward to seeing the formal announcement.
  22. One of my favorite FIRE reads is the Mad Fientist. He just posted this on withdrawal rates: https://www.madfientist.com/safe-withdrawal-rate/
  23. https://www.ssa.gov/cola/ Maybe bump for 403(b) as well?
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