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About MoeMoney

  • Birthday April 13

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  • Location
    New York
  • Interests
    Cycling, learning, teaching

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  1. Isn't it bizarre to think our emails get flagged and our helpful sharing of articles have to be distributed discreetly? You'd think we were....403(b) sales reps with something to hide! Oh that's right, they have free access. I don't think we're putting aside reform, but I do agree that we are taking one of the two-pronged approaches here. 100% right Ed, it's about building relationships, and face to face, and holding their hands. That is gold. Great work getting your former colleagues a lower cost plan.
  2. Cal Newport wrote a book called Deep Work. I just borrowed it yesterday from one of the many wonderful libraries in my area. From what I've read so far (and heard him say on his recent podcast interview) we all have period's of time during the day that is better suited for deep work. Mine is in the morning so I'll be reading your post then. Thanks in advance for sharing, Ed.
  3. I didn't either, but you brought it to the surface! That is why I begin the Fin Lit unit identifying and ranking values. Yes, behavioral economics is a relatively new field of study. Captivating to me too. And that is why I've been MIA for a while! I am a fan of letting things percolate after gathering as much information as possible, asking questions and exposing every possible scenario. I've sought guidance from several valued mentors and have done research, read and created. And physical workouts are always therapeutic for me. I am almost finished writing a PD to present to teachers on the state of 403(b)'s which includes the basics of financial literacy in language they understand, not in salesman language. I will be proposing it in June to the PD committee and pushing to present it a couple of weeks later. I'll collect data and market it to area schools and seek approval for CTLE credits for attendees. Looking ahead, I will seek sponsorships. What's the worst that will happen? I'll help a teacher and do a lot of volunteer work. I also have a teacher interview in May and today I had a Skype interview for an international teaching position! It would be easier for me to discard scenarios early but I usually don't do that. How did you manage during your mental volatility between job switches? Are you happy with your move?
  4. It is well worth anybody's time. I know you've posted it here in the past. Wish I could duplicate it on the east coast. Baby steps...
  5. I'm awed that the union gets to offer this AND members get to earn PD hours. Is the presenter a member of the union or a fin rep?
  6. On the other hand, it turns out the difference between 16 years of service credit and 17 years is $230 for the year in pension benefits, I kid you not. I think I'm going to throw in the towel. If I'm not going to make it until 20, why bother, other than the income. It's too risky to count on getting a year of service from year to year. I think I'm ready to re-create myself and my husband is ready to move onto the next chapter. Thanks for listening to me vacillate and for sharing perspectives. I'll keep you posted.
  7. With all the media surrounding the lowering of 401(k) fees recently, and some attention on the excessive fees of 403(k)'s, I was hoping to see new posts from teachers here, looking for guidance. There are so many of them that still need to discover how to make their plan better. Any thoughts on how to do that? I think about setting up a booth at teacher's conferences one day but that means time off and costs. What would this scenario look like and how would that go over? Just mulling it over here, not really looking for hard answers, just conversations about how to increase awareness.
  8. Update: it seems I could get a full year of service credit by teaching my .5 at half my salary and "teaching" as a permanent sub for the other .5 at half the current sub pay (way less than my salary). This would "buy" another year of service credit and some time to prepare for a departure the next year, with 17 years of credit. It would also free of my mental bandwidth by teaching 2 preps instead of 4 or 5 and allow me to focus on my next step.
  9. Well done! Do you have a date yet?
  10. Great questions. Some people in your situation might elect to do some pre-tax and some Roth as a way of diversifying and playing it safe if the tax brackets do change. What do you mean by: "b. 457 withdrawals subject to all taxes, but allowed $20,000 annual state deduction." I like krow's idea about adding in a Roth IRA if you don't already. That gives you extra retirement savings and tax diversification too.
  11. Hi Fbuchner, Call me a skeptic but I'd want to see it on my statements supporting what your security benefit rep told you. "The SBG ARP program is load-waived, i.e no sales or loads. Instead, SBG charges a flat 1% or .25% quarterly asset-based fee plus the individual fund expense". Of course, if you're transferring, it won't matter much to you, but then you can tell a colleague what you learned about the front-load charges and waiving. Good luck either way.
  12. Thanks krow. I randomly asked the superintendent about doing that this year, in light of the budget crisis. And today, I asked the union to ask again, seriously. It would save them money. I’ve covered a lot of ground this weekend and I’m in a good place for now.
  13. This is what I know: I'm not intent on continuing to work AT THIS job. Certainly under those terms for 8 years to qualify for the extra $26K. (65 years plus 8 years =....) What is "enough" money? Will it ever be enough? What is "enough" time? Will it ever be enough? I do want to dedicate time to family, friends and hobbies. I could be happier working at another job. Ed, are you sure you're not a financial therapist? I think you could define the job. What financial advisor would ask those kinds of questions? Not too many I'd guess. I could be wrong though.
  14. I think it's more like $2200/mo difference 12 but there are some federal taxes reducing that gap some. All said and done, I'm confidently thinking I'll do something in the private or entrepreneurial world to satisfy my yearning while "playing" too. I do love teaching my students and the content in which I teach but not under those terms I outlined. I am consider asking for something in return for retiring as you mentioned as they'd have to hire a PT teacher at half my salary. It is highly unlikely given the climate we are in but if I pose it correctly and confidently, what's the worst that'll happen? I have zero experience negotiating terms like that but some experience negotiating in general.
  15. I do share your broken psychology! But I suspected all along that I might not teach for 20 years, given our age gap, so it's not a new mindset I'd have to get over. It's more the math of ~$1800/month vs. ~$4000/month for just 4 more service credit years. Portfolio aside, it still is a psychological block.
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