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sschullo

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Everything posted by sschullo

  1. Sorry for your loss. Lost my husband 3.5 years ago too. I am a retired teacher with a CalSTRS pension, and I was not eligible from my husband's SS either. Here is the law that affects both of us: https://www.ssa.gov/pubs/EN-05-10007.pdf
  2. Hi Megan, You got excellent feedback. BTW, welcome to the 403(b) world with K12 school districts.
  3. Pushing this financial literacy announcement up. Register here: https://www.utla.net/contact/financial_literacy_101_signup
  4. Pushing this up. Register here: https://www.utla.net/contact/financial_literacy_101_signup It's a FREE workshop with tons of useful information. 5 PD credit hours are provided for LAUSD educators.
  5. I second what krow said. Thank for the info! 2018 was the first year for my RMD and I paid 16% tax rate on $100,000 income (SS, pension, two tiny businesses, and RMD). It is the most taxes I have ever paid in my entire life. My donations or my business losses did not put a dent in my tax bill. I am thinking about converting some of my IRA to a Roth, but I will pay even more taxes now to pay less taxes later with the rates go back up in 2025, or 26.
  6. Rick Ferri, author of several books on indexing investing, and a Boglehead says this about Assets Under Management (AUM), the most frequent and popular business model used by financial advisers. Buyer beware of how much AUM they charge: https://www.thinkadvisor.com/2019/04/12/rick-ferri-is-back-in-business-challenging-the-aum-fee-model/?fbclid=IwAR3hVq0qvj_L9cL_8K-9iHMHOMdVnuLR5uAXQhFamySb4eS7Jf8AfyEv6dc
  7. Hi Nancy, The union leadership had very little to do with this and previous investment workshops. It provided the room, an assistant and duplication of handouts as the union would do for all workshops. It is sponsored by UTLA's Pre-Retirement Issues Committee which is one of the dozens of subcommittees. The former committee Chair Sandy still handles much of the coordination. She was the one who got the PD hours. Dan Otter and Barbara Healy are presenters. Barbara is our financial consultant to our advisory committee. Kevin of CalSTRS will discuss 403bcompare.com. Its been well received for the last 12 years. Those that attend love the information. Some have come more than once. Attendance varies between 40 and 70. The very first one was done in 2000. But some years the union voted down the presentation. But in the last 12 years, these popular workshops have been held just about every year. Steve
  8. No, not yet. There will be phone discussions starting today on setting up time and place for financial education workshops in the coming months. The California SEC SF and L.A. offices have been doing similar things.
  9. Update. Looks like my letter has had an effect. We are going to meet and discuss with one of the attorneys on staff.
  10. I am glad you brought this up. Keeping a "perspective" is a requirement for long term investing success. We have preached and preached for years that after every crash, correction, downturn, or any type of pullback, the market recovers. The book "stocks for the long haul" shows the growth since the early 1800s, over 200 years. We are reminded first hand that this is happening right now. As you said, the markets have recovered much of the losses experienced by 2018 Q4. This is nothing original from me, but from my readings and from Jack Bogle. Buy, hold and rebalance, nothing complicated or original. The only thing I trust about investing is that the stock and bond market will grow over many years, stocks more than bonds. Sometimes bonds more grow more than stocks but taken together stock and bonds reflect the world economies and all of the energy of people working together.
  11. Hi Nancy, Thanks so much for the kind remarks. Yes, I use Excel to create the charts. Here is more information about TIAA annuities. It gets a little complicated to be eligible to use it. My former school district has TIAA and I used to use TIAA back when I was working. So I had transferred $250,000 of my IRA from Vanguard back to TIAA because Vanguard does not have a similar fixed and guaranteed stable value like fund. If Vanguard had it, I would not have used TIAA. The point is that you have to have TIAA available in your school district 403(b) plan and then you are eligible to use it. The interest rate might be higher than 3.0% now. https://www.tiaa.org/public/retire/financial-products/annuities/ for more information. Steve BTW Georgiana and I just got back from Morocco and Paris! At the great Sahara! It is sooooooooo beautiful. That's why I live in the desert! And then there is Paris! We had a wonderful 2.5-week trip. I have been around the world, but Morocco and Paris are different but both exotic as hell. Every building in Paris is a classic!
  12. Ed and Nancy, Yeah, my "boring" portfolio earned over $65,000 since January 1st (nothing boring about that). I took out $22,000 both in RMD and to fund my house remodeling. It was not only stocks but bonds were very helpful too. Look at my international bonds soaring at 3.09%! Wow! And the total bond market index also went up 2.94%. Vanguard's total bond market index is one of the greatest bond investments around. I have had money in it for about 15 years. NEVER ever listen to the professionals who have been warning for years that bonds will crash when interest rates go up. Well they went up, and yeah bonds took a hit, but what the financial media never says that if you hold on to the bonds, just like stocks, they will recover too. Steve
  13. YTD Return: 4.1% I took out money from my bond allocation to meet my 2019 RMD (required minimum distributions, or RMD for us over 70.5) and the equity markets soared this past quarter. Consequently, my stock allocation has crept up to 33% about 3% above my target. My stock-bond split original target since 2006 is 30% stock / 70% bonds and cash. Details of my portfolio: It's been the highest single quarter returns since 2009. Anybody else want to share?
  14. Yes, I use VBTLX, and TIAA's traditional Annuity product, Treasury Direct iBond, international bonds and just plain ordinary cash.
  15. Yea, Ed, and you krow36, could not only be a tax professional but a tax attorney as well. I kept things simple and used only the regular Roth IRA and the 403(b). I have plenty in my Roth currently. The 403b Roth, 457b Roth and the 401k Roth are a recent addition to employer-sponsored retirement plans, came along after I retired.
  16. Hi Ed, Let me get this straight: You are talking about four different retirement vehicles that the same money is passing through: 1. traditional IRA, 2. employer 401k, 3. nondeductible traditional IRA and 4. finally the Roth IRA. This looks like one of the biggest tax loopholes that the tax code gives us. Fascinating.
  17. TIAA half billion in low cost, passive assets should also be included. As far as I know, as I once owned a CREF REIT Roth and the .99% ER was way too expensive. I get the Sunday-only LA Times, and don't have time to read much of it!
  18. Great Thanks. Looks like good news. Of course, most of us here are especially fond of 8!
  19. WOW! In California! In the land where secrecy and behind-closed-doors discussion rules with an iron fist by the districts, state insurance commissioner's office, and teachers' unions. Everybody here has known this for years about the complete lack of public discussions of anything about financial literacy for either adults or the students. Out of nowhere appears this bill. https://sacramento.cbslocal.com/2019/02/22/financial-literacy-high-school-course/ However, I cannot find any details about this new bill, AB 1087. At first glance, it looks like it is sponsored by Bank of American as this article, along with USA Today, cites their comprehensive survey of financial literacy among young people in 2016. https://about.bankofamerica.com/assets/pdf/BOA_BMH_2016-REPORT-v5.pdf Steve
  20. Hi krow, Dan and Scotty can speak for themselves but I seriously doubt that NEA would take any outside advice. But I have been wrong before! :- ) Nobody knows the reason why NEA came up with the Direct Invest but the eerie coincidence of NEA creating this option came right after their lawsuit when two teachers sued NEA for breach of fiduciary duties. The general consensus around here is that NEA created this option as an added protection against future lawsuits. They can argue with clear evidence and say with a straight face to future judges and juries, "look we have this fiduciary (and low cost) option but as you can see your honor hardly anybody uses it." NEA case against them was beaten back twice because the judges threw it out as the 403(b) is not under the department of labor fiduciary regulations. The teacher's attorneys argued a brilliant case IF the 403(b) had fiduciary mandates. In fact, if the 403(b) was under fiduciary mandates as the 401k world, this website could be closed down and we all could go home. It's that simple. But that isn't going to happen, YET. Steve
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