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Dan Otter

New 403(b)wise Book Coming

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Greetings all,

 

Just wanted to let you know we are busy working on a new book called "Teach and Retire Rich." While the title sounds like something straight out of the oxymoron hall of fame the concept is this:

 

While the average teacher salary in 2003 was just $45,930 (according to the NEA), teachers have some powerful wealth building tools at their disposal: defined benefit plan, 403(b) plan, 457(b) plan and Roth IRA. The book details how teachers who wisely participate in one or a combination of these plans will be able to accumulate an attractive nest egg. But of equal importance is the fact that teachers have the ability to retire "rich" knowing they have made a significant contribution to the betterment of society. The book will espouse all of the mantras of 403(b)wise: starting early; investing in quality, low cost products; wise allocation; using fee-only financial planners when necessary; etc while espousing the intrinsic rewards of teaching. One of our goals is that the book be used as a tool for both teacher recruitment and retention--two huge challenges for the profession.

 

Here is my question. We can go the self publishing route which we did quite successfully with "The 403(b)wise Guide." The site attracts more than 35,000 visitors a month so plenty of eyeballs will be on this new book, or we can seek out an agent or publisher. I am curious if any visitors to this board have agent or publisher contacts for "Teach and Retire Rich." Thanks for any help you can provide. Feel free to post here or email me at: dano@403bwise.com

 

Thanks,

 

Dan Otter

403(b)wise

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Guest jeff

There are hundreds of books which already cover that topic.

 

Good luck getting it published.

 

Youll need it!

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Guest Richard

This site might get 35000 hits but its being viewed by 34000 Financial services industry employees not the intended audiance.......teachers.

 

Hey Otter hows the delta house!

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Hi Jeff,

Actually there is not one book that specifically addresses the unique needs of teachers. My sense is that "Teach and Retire Rich" is a book (like 403(b)wise, 457(b)wise and "The 403(b) Wise Guide") that annuity sales people simply don't ever want to see the light of the day. Bad news. It will. We have great belief that "Teach and Retire Rich" will be much more well received than: "Sell High-Fee Annuities to Teachers and Get Rich."

 

Hi Richard (Is that you again, Jeff?, sure wish you had the courage to list your real and full name),

Thanks for the data on the site. We are thrilled to learn that the financial industry is paying so much attention to 403(b)wise.

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Hi Dan,

 

Why not ask both NEA and AFT offices for their support via access to their members and publications. As teacher advocates they could find ways to "sponsor" your (and my) cause for greater finacial freedom. I am a veteran teacher (and a 403b/457 contributor) and my daughter continues the tradition.

Best wishes on getting this book into the hands and minds of our educators.

PAB

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Hi,

 

Could you include in your new book just not teachers but all school employees. I feel all school employees should know their retiremet benefit options. Your new book would be able to address their needs if you target them.

 

jyork

Pacheco School District

Redding, California

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Hi Dan,

Good luck on the book.

Suggestion that you probably already thought about is to require all posters to register with an email address before they can post.

 

Richard or Jeff or whoever you are:

Wow, I am too impressed that 34,000 of the pros read what many of us educators write about investing. Maybe 99% of the pros will learn something, but I am not holding my breath. But I am more impressed that 1000 educators are reading this site. That is a lot of educators that will not need your business.

 

pab,

 

Unfortunately, NEA and AFT will never "sponser" Dan's book. That's been tried about five years ago. After one ad about a 403b book for teachers was published in the NEA newspaper, the author was called and given a lame excuse about discontinuing the ad. We all know exactly what happened. The "union approved" pros, of course, called the NEA and complained about "educating teachers" is dangerous and/or this guy did not go through the "approval process." NEA pulled the ad immediately.

Heck, I can't even get my local union give TIAA CREF a chance to present for the "union approval" status. Unions are a conduit for the TSA companies at the expense of the members. They will not educate its members about 403b. Dan's book is about educating.

 

Best wishes,

Steve

 

 

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Dan,

 

This new book should be written for all public employees not just for those employed by public school systems (k through higher education). Remember, this website is also entitled 457(b) wise. There are about 18 million people employed by state and local governments. About 4 million come from public school systems. The same sharks that prey on public school personnel perform their dirty tricks on 457(b) participants which is a much larger market.

 

As far as the unions are concerned it is my belief that the left hand does not know what the right hand is doing. Is is not bizzarre for the AFT/NYSUT to publish "The Shark Attack" and then go ahead and collect an endorsement fee for sponsoring ING products?

 

Peace and Hope,

Joel L. Frank

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Dan, Bless you...

 

It's a tough road...but there is a market...but I've always thought there was a market for motivating teachers to "rise up with the facts and demand" better defined contribution plans. Shows you what I know.

 

I've lost contact with Alan Feigenbaum, author of "Raising Financially Savvy Children," published by Parent's Guide Press at publisher@marspub.com Perhaps you'd want to co-author with Alan a title " Raising Financially Savvy Teachers." ;-)

 

Later,

Ted

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Hi,

 

I applaud your efforts. Allow me to generalize (knowing full well that exceptions exist). I've thought about it for a long time. Why would someone, an educator, spend part of their weekend, buying supplies, thinking about children and their curriculum and enagaging in discussion on how to improve education and not be willing to spend 5 minutes to deal with their financial future?

 

I have come to believe that, by and large, we are an altruistic crowd. We got into the profession because we like kids, we want to improve the world, etc. etc. Acquiring wealth is somehow considered antithetical to the altruistic mission. There seems to be a collective guilt about acquiring wealth.

 

I have also noticed that many of the teachers I interact with are so into their jobs that they just don't have any energy left to think about financial issues. Others find it just too confusing.

 

That is why I believe your book should address these factors. Of course, these factors are what might prevent educators from buying it in the first place!

 

Gadfly

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