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sschullo

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  1. Never had the time nor the interest. Bogle is plenty enough for this ordinary investor. I love and respect what he is doing with his money in the Gates foundation.
  2. Hi Tony, I have been reading the huge gains in the last year. Its cherry picking the would of, could of, should of gotten in the market at the EXACT bottom of a major crash a year ago to record highs now. Useless information. I am quite happy with my 9.34% 2020 return and with the .87% return Q1.
  3. Hi, Way late for this Q1 report which concludes March 31st. Less than 1.0% return for the first quarter, 2021. Enjoy, Steve
  4. Hey Matt, Good to see you here. This site is the oldest forum for enlightening teachers on the hazards of the 403b. These days, most people are joining the FB page and tuning in on Scott and Dan's Zoom meetings. I enjoyed your information about Aspire as you were a guest one of their Zoom meetings a few months ago. Aren't those Zoom meetings terrific? Sometimes over a hundred teachers from all over the country listen in and ask questions. This week, I will be on a panel with three other people. We are all retired. Two are teachers, one a brilliant school district custodian who just retired at 55, and one a 36 year old author. She is part of the FIRE movement. I just adore both the FI and FIRE movements. Heck I didn't start saving for retirement until I was 37! These young people are the future and they are making us older folks rethink this thing called "RETIREMENT." Again good to see you.
  5. Are any of these companies good choices? NO! None. As you already know, "they all suck."
  6. sschullo

    Lisa

    I have used TIAA for years and currently have money in their traditional annuity paying 3.0%. I am a retiree also. I can take it out at any time with no surrender fees. Like the others I have never heard of TIAA keeping your money to pay for health premiums! The most common complaint about TIAA is people sign up for the higher interest product and don't know that TIAA has either a 7 year or a 10 year surrender period on those higher paying products. As krow36 said, there have a product that pays more interest than I get but it is frozen. But the health premium connection makes no sense. We're here to help answer your employer plan and IRA questions. CHAT WITH US We're currently unavailable. Please try us again soon. CHAT WITH US REQUEST A CALL We're currently unavailable. Please try us again soon. REQUEST A CALL CALL US 800-842-2252 WEEKDAYS 8 AM - 10 PM (ET) Our busiest time is 12 - 2 p.m. on Mondays. For personalized advice: Schedule a session now
  7. Hi Magatuck, Also known as a Single Premium Immediate Annuity (SPIA). This is the only time when an annuity is appropriate. You are helping you mom purchase a pension, a private pension to get a guaranteed payout for the rest of her life. These products may have riders such a inflation protection and pay out to a descendant upon her death. But with each rider, it costs in the monthly benefit. May sure you and your mom understand what you are getting into. The sales people are very good at taking care of their interests, and not your moms. We are teachers here on this forum and we have been sold terrible annuity products during our working years, which is a big problem with public K12 teachers. Whyme suggested bogleheads and there are tons of discussion threads already available. Here is the Boglehead wiki: https://www.bogleheads.org/wiki/Immediate_fixed_annuity Do not purchase a variable annuity! or any other annuities. ONLY A SPIA from a low cost company such as TIAA. Others may have suggestions for other low cost companies. good luck, Steve
  8. This will be interesting! Talking to a salesperson about fees is like talking to a salesperson about fees! This is another one of those creative topics for T-shirt slogans. Any ideas? Sorry Warsad, for going off your topic. We will wait for your update.
  9. Hi CT, Below is my pie chart AA for a 73 year old retiree with a teachers pension. As I said in my PM to you, I have 50% of my money in the 3 fund portfolio. It looks complicated because I have different types of bonds, muni bonds for tax purposes, Treasury Direct for inflation protection, and international bonds for more diversification. 1. I do not factor my pension into my asset allocation. However, I constructed a conservative portfolio because my pension is not enough to fund my retirement, and so I need my investments. Also, if you look at this Vanguard chart (https://investor.vanguard.com/investing/how-to-invest/model-portfolio-allocation) where I made the decision to have a 30/70 stock bond split, you will see that the past returns are 7.7%. I can live with that! 2. I use the simple strategy. I do not dabble in factor investing. Too time consuming, too complicated because it encourages risk taking to "beat the market." Here is a lengthy discussion on the topic: https://www.bogleheads.org/forum/viewtopic.php?t=199165 Good luck, Steve
  10. I agree with Tony. The insurance salesman is going to mislead you. They are not financial advisers who would point you in the direction of taking care of your interests. I would not waste my time. As krow said, you can still find information on 403bcompare.com.
  11. Hi CTinker, Sorry about the disappointment. But people still use it. I can think of a few disappointments (and cheers) of my own when it comes to corporate America. The egregious, unethical, self-conflicted and aggressive selling of high cost 403(b) annuities to our colleagues for the sole purpose of collecting a commission or high costs, or both. Steve PS I have cheers for Telsa and the vision of clean and sustainable energy production and consumption.
  12. I guess I am lucky as I have never been vandalized on Facebook. I also have accounts on Twitter and LinkedIn. In fact I have two Facebook accounts, one personal and one business for the books I am giving away. Never had any problems. Oh, once in awhile on the FB messenger site somebody posts some scam. No big deal. I will continue to frequent facebook 403bwise.org private group because that's where the action is, going on 2500 teachers who are bright and ACTIVE for teaching their colleagues about the hazards of 403b everywhere. This site has been dead for years now. It has tons of good content and is a good resource for the FB groups, but the discussion part is good for the few teachers who come here for help, but not so good for reforming the system. What I have done over the years is not post anything personal such as my birthdate and I have had my SS# frozen for years. My credit union will shut me down if I don't tell them I will be out of town and using my credit card. Security is on everybody's mind, but we have to do our part too.
  13. Scott is right, there is more to life than just saving money and watching it grow. I stayed motivated because of values that extended beyond myself and realized that material things were not just expensive, but didn't make me happier. Thankfully, I think most people realize this, but they still purchase new cars every 3 or 4 years, which is extremely wasteful. What made me happy was doing things that I loved, such as reading, going to school, writing, doing things for free, or even paying for the experience. For example, I earned a Phd at UCLA because I had a research idea and it resulted in a paper presented at the American Educational Research Association annual convention, or I wrote a Op-Ed article supporting bilingual education that was published in the LA Times. I also wrote investment articles for my union newspaper for 13 years, all for free. I also write reviews on many books both financial and novels published on Amazon. Here is my review of Your Money or Your Life by Vicky Collins that Scott quoted: https://www.amazon.com/gp/customer-reviews/R34XCX7436D7ZK/ref=cm_cr_srp_d_rvw_ttl?ie=UTF8&ASIN=0143115766
  14. This is standard response to day traders and gamblers: Not so smart "investor" Dad: “If you just match the benchmark, you are getting an average return. Why would you ever want to be average?” he asked. And I like the genuinely smart son's answer which is also decades old: Smart Investor Son: “Well, Dad, that still would put me ahead of most active investors.” Nothing ever wrong with the "average" return over many years. The fact is that the average return from the stock market since the 1870s according to Morgan Housel: United States capitalistic system produces about 6.8% return minus inflation since the 1870s (3.1% average inflation generates a total return of 9.9%). Has anybody else read Housels book, the Psychology of Money? Here is my 4 star review on Amazon: https://www.amazon.com/gp/customer-reviews/R30TAIVAFIZBC8/ref=cm_cr_arp_d_rvw_ttl?ie=UTF8&ASIN=B084HJSJJ2
  15. Thanks guys, Here is another chart I created to show how fees eat into your investments in DOLLARS. Many times when we say to our colleagues that 2% is way over the top in costs, some people think that 2% is very low! I have posted this chart before but I think it's worth posting again. For the record I pay a miniscule $1132.00 in 2020 for my entire portfolio! And that $1132 is calculated by the value of my portfolio at the end of the year. Vanguard as with most companies get their costs by the quarter. The value of my portfolio is about 10% lower at the end of Q1 last year because of the pandemic correction. But its too much work calculating my costs every quarter when the primary point is clear enough that my costs are extremely low. That's the point. If I paid 1.0% AUM for a financial adviser, for example, instead my current cost of $1132.00, I would be paying over $17,000! Oven ten years, that's $170,000 lost to fees and that's just 1.0%! ONE PERCENT FOLKS! Jack Bogle said it a long time ago and kept saying it until he died two years ago at age 89 on January 16, "FEES MATTER!"
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