Published: Sun, 18 Sep 2016 19:19:08 +0000
Last Build Date: Wed, 21 Sep 2016 21:26:27 +0000Copyright: Copyright 2000-2016 Teach and Retire Rich. All rights reserved.
Sun, 18 Sep 2016 19:19:08 +0000
We interview planning couple Dina and teacher turned planner Tony Isola. Together they head up the 403(b) division at the powerhouse Ritholtz Wealth Management firm.
Dina strives to provide clarity and common sense to demystify the “jargon” of the financial world, so that investors stop feeling intimidated or inadequate when considering their financial planning options.
Tony is a former teacher who gets it. He saw first hand the abuses in the 403(b) world. While the profession lost a great classroom teacher, it gained a strong 403(b) advocate.
Wed, 31 Aug 2016 14:23:58 +0000
We interview one of the unsung heroes of the 403(b) world: Ed Derman, retiring Deputy Chief Executive Officer of the California State Teachers Retirement System (CalSTRS). Ed discusses the work he has done on behalf of teachers in the state of California.
Thu, 11 Aug 2016 21:43:47 +0000
We discuss recent class action lawsuits filed against Duke, M.I.T, N.Y.U., Penn University, and Vanderbilt University, and Yale University for excessive retirement plan fees.
Wed, 27 Jul 2016 15:24:36 +0000
We talk 403(b) Church Plans with Chicago area rabbi Evan Moffic of the Congregation Sole.
Wed, 13 Jul 2016 16:06:38 +0000
Mark Eichenlaub, a 7th grade teacher in Illinois, discusses how he was able to get his employer to add a quality, low-fee vendor.
Tue, 28 Jun 2016 14:30:19 +0000
Inga Chira brings a unique perspective to the Higher Education market. She is a professor and a CFP®. In episode 31 she talks to us about teaching and saving in higher ed.
Sun, 12 Jun 2016 20:51:02 +0000
In episode 29 high school social science teacher Dustin Voss talked about teaching financial literacy at Fenger Academy High School in Chicago, Illinois. In this episode, two of his students share what they have learned in his class.
Wed, 01 Jun 2016 20:45:47 +0000
Dustin Voss began teaching in 2007 in Chicago Public Schools. After his first year of teaching at South Shore School of Technology, he was laid off and did a year of substitute teaching. in 2009 he was hired at Fenger High School and has taught civics, personal finance, entrepreneurship, and other social science classes since. He has a masters degree in curriculum and instruction and achieved National Board Certification in 2013.
Wed, 25 May 2016 01:03:14 +0000
Debby Karton of IPPFA Benefits helps employers move to a single vendor.
Thu, 05 May 2016 19:00:00 +0000
Dan's daughter Lily discusses the process of choosing a college. She also offers tips for high school kids just starting this process.
Thu, 21 Apr 2016 19:00:00 +0000
Scott and Dan discuss how two groups — The NTSA and the NEA — make saving for retirement harder for teachers. They also discuss the redesign of 403bwise.
Thu, 07 Apr 2016 19:00:00 +0000
Retired teacher Steve Schullo and host Dan Otter share what is was like to lose a spouse. They also discuss the financial implications of losing a loved one.
Thu, 24 Mar 2016 19:00:00 +0000
Too many unions fail teachers when it comes to the 403(b). But not this Wisconsin-based union. Dan and Scott speak with Sonja Penner, manager of communication for WEA Member Benefits.
Wed, 09 Mar 2016 19:00:00 +0000
Dan interviews the author of Wild West: Providing Fiduciary Advice to Public School Employees, a book that details how advisors can serve the K-12 market.
Our guest drinks a True Brewmance IPA from 8 Bit Brewing Company of Murrieta, California. Dan drinks a Red Chair NWPA Northwest Pale Ale from Deschutes Brewery of Bend, Oregon.
Thu, 25 Feb 2016 19:00:00 +0000
What do you need to know when working with an advisor?
Thu, 11 Feb 2016 19:00:00 +0000
Dan and Scott examine the annuity. We look at the good, the bad, and the ugly.
Scott drinks a #9 Not Quite Pale Ale from Magic Hat Brewing Company of Burlington, Vermont. Dan drinks an Otra Vez Gose-Style Ale from Sierra Nevada Brewing Company of Chico, California.
Wed, 27 Jan 2016 19:00:00 +0000
Dan and Scott continue their talk with Lynn O'Shaughnessy of the College Solution, a website designed to help parents and students navigate the often stressful process of applying to and paying for college.
Scott drinks an Islander IPA from Coronado Brewing Company of Coronado, California. Dan drinks a Grapefruit Sculpin IPA from Ballast Point Brewing Company of San Diego, California.
Wed, 27 Jan 2016 19:00:00 +0000
Dan and Scott talk with Lynn O'Shaughnessy of the College Solution, a website designed to help parents and students navigate the often stressful process of applying to and paying for college. Topics covered include: the absurdity of college rankings; the dangers of focusing on a handful of schools; the metrics that lead to a happy college student; why research universities may not be the best choice for undergrads; and the realities of athletic scholarships.
Scott drinks an Islander IPA from Coronado Brewing Company of Coronado, California. Dan drinks a Grapefruit Sculpin IPA from Ballast Point of San Diego, California.
Thu, 14 Jan 2016 19:00:00 +0000
Dan and Scott talk with Ed Mills a.k.a. The Millionaire Educator. Ed and his wife, who is also a teacher, saved $104,000 in 2015. Not only are he and his wife hard-core savers, they are also willing to move from one school district to another to gain access to better 403(b) investment choices, or to trigger the separation from service provision that allows them to move their 403(b) assets to lower cost investments.
Beer (and Wine)
Ed drinks a red "Black Box" cabernet wine. Scott drinks a Chain Breaker White IPA from Deschutes Brewery of Bend, Oregon. Dan drinks an Adobe Igloo, a winter style brown ale by Santa Fe Brewing Company of Santa Fe, New Mexico.
Mon, 04 Jan 2016 19:00:00 +0000
Dan and Scott take a look back at their 2015 investing successes and failures. They also share 2016 savings plans and investing goals.
Wed, 16 Dec 2015 19:00:00 +0000
Dan and Scott visit Amy Biehl Charter High School in downtown Albuquerque, NM where every senior takes a hybrid economic and financial literacy course. This isn’t your typical course. Topics covered include: political ideology and economic policy, predatory lending, and red lining along with financing college, cars and mortgages. Dan and Scott interview students Jonathan, Alicia, Serina, and their teacher Bryan Wehrli.
Dan and Scott drank the following beer at Dan's AFTER the interviews were conducted: Bosque Lager by Bosque Brewing and Elevated IPA by La Cumbre.
Thu, 03 Dec 2015 19:00:00 +0000
Dan and Scott interview fiduciary planner Sheryl Garrett, CFP, owner of the Garrett Planning Network. Founded in 2000, the Garrett Planning Network has grown into a national network of hundreds of hourly-based, fee-only financial planners. The Network exists "to make competent, objective advice accessible to all people." Sheryl has been singled out by president Obama for her support of advisor fiduciary standards. In this interview, Sheryl discusses a variety of financial planning topics including what the Garrett Planning Network is and why it was needed. She also discusses the fight to get a fiduciary standard in place.
Beer (and Hard Cider)
Sheryl drinks a Wicked Apple hard cider by Redd's of Milwaukee, WI.; Scott drinks a Pumpkin Ale from Saranac Brewery of Utica, NY; Dan, who has a cold, drinks a Sugar Cookie Sleigh Ride tea by Celestial Seasonings.
Wed, 25 Nov 2015 19:00:00 +0000
Dan and Scott interview Warwick, N.Y. based planner Ken Ford owner of Warwick Valley Financial Advisors. Ken has begun to focus on working with K-12 teachers in the Warwick, N.Y. area. He talks about his effort to serve what he believes is an underserved market: K-12 teachers.
Ken drinks an Imperial Pumpkin Ale from Southern Tier Brewing Company of Lakewood, NY; Scott drinks a #9 Not Quite Pale Ale from Magic Hat Brewing Company of South Burlington, VT; Dan drinks a Slice of Hefen Wheat Ale from La Cumbre Brewing Company of Albuquerque, NM.
Wed, 04 Nov 2015 19:00:00 +0000
Dan and Scott interview Scott Senseney of Fidelity's Tax Exempt Market Business. Topics covered include: Fidelity’s approach to the K-12 market (they have approximately 4,000 client accounts); how to get Fidelity in your school district; Fidelity’s approach to the college/university and tax-exempt markets; and Fidelity's recent success at winning single vendor RFPs. We also asked Scott about the challenges of increasing enrollment in public K-12 403(b) plans, how Fidelity personalizes service, and his prediction for the public (non-ERISA) 403(b).
Dan drinks a Salted Caramel Brownie Brown Ale which is collaboration beer from New Belgium of Fort Collins, CO and Ben & Jerry's of Burlington, VA.; Scott drinks a Mission St. Hefeweizen from Trader Joe's of Monrovia, CA.
Wed, 21 Oct 2015 19:00:00 +0000
Dan and Scott interview Dave Grant, a Certified Financial Planner who specializes in working with teachers. Dave grew up in England and came to the United States because of a girl — a teacher — who is now his wife. Dave talks about his business model, working with teachers, and a new financial initiative he just launched called: The Finance for Teachers Network (FFTN). The goal of the network is to bring educator-focused financial advisors from across the United States into one place to learn best practices from each other, understand how to further their skills in working with K-12 and college educators, and get coaching in how to serve more educators than they currently are.
Dan drinks a Bosque Lager from Bosque Brewing of Albuquerque, NM.; Scott drinks an Arrogant Bastard Ale from Stone Brewing of San Diego, CA.
Wed, 07 Oct 2015 19:00:00 +0000
Dan and Scott interview Mark Luckinbill of Aspire Financial Services. Mark is head of 403(b), 457(b) and IRA products for Aspire. One way to describe the firm is an aggregator of mutual fund companies and investment products. Through the Aspire platform educators or staff can get access to most of the popular mutual fund companies including low cost, no-load funds like Fidelity and Vanguard. Aspire is available in more than 3,500 school districts across the country.
Dan drinks a Pumpkick Ale from New Belgium Brewing of Fort Collins, CO; Scott — in our continued effort to "Draft" Massachusettes Senator Elizabeth Warren" to share a beer with us and discuss financial issues — drinks a Downtime Pilsner from The Boston Beer Company of Boston, MA.; Mark drinks a Freak of Nature Double IPA from Wicked Weed Brewing Craft Beer of Asheville, NC.
Wed, 23 Sep 2015 19:00:00 +0000
Dan and Scott interview retired teacher and 403(b) advocate Steve Schullo and husband Dan Robertson. The couple, who co-wrote Late Bloomer Millionaires, share how they met, talk about their financial mistakes and successes, and discuss the financial challenges of same sex couples.
Note: Dan Robertson passed away shortly after the release of this episode. Words cannot express the loss we feel. RIP Dan Robertson.
Thu, 10 Sep 2015 19:00:00 +0000
Dan and Scott critique the podcast to date, explain the meaning of the phrase Teach and Retire Rich, discuss recent market volatility, and Scott announces a movement to get a certain financial hero of ours on the podcast.
Dan drinks a Black IPA from Santa Fe Brewing Company of Santa Fe, NM; Scott drinks an Inversion IPA from Deschutes Brewery of Bend, OR.
Wed, 02 Sep 2015 19:00:00 +0000
Dan and Scott interview retired Los Angeles teacher Steve Schullo, who almost single-handedly started the 403(b) reform effort. After being duped into buying a high-fee variable annuity as a new teacher, Steve began a decades long effort to help teachers get better investment choices. He’s battled administrators, benefits officials, unions, and financial industry lobbyists. Steve, along with husband Dan Robertson, co-wrote Late Bloomer Millionaires which details their investing mistakes and successes. Steve talks about growing up on a farm in northern Wisconsin, his service in Vietnam, teaching, 403(b) advocacy, investing, and meeting his partner Dan Robertson. Note: Dan Robertson passed away not long after the release of this episode. Words cannot express the loss we feel. RIP Dan Robertson.
Dan (Otter) drinks an Outlaw lager from Rio Grande Brewing Company of Moriarty, NM; Scott drinks an Inversion IPA from Deschutes Brewery of Bend, OR.
Wed, 19 Aug 2015 19:00:00 +0000
Dan follows up with 6th grade teacher Joe Minnuto about the bad 403(b) choices available to him and his wife, who is also a teacher. Dan and Joe also talk Buffalo sports including “Wide Right” and “No Goal!”
Dan drinks a Wet Mountain IPA from the Canteen Brewhouse of Albuquerque, NM; Joe drinks a Tangier IPA from Southern of Tier Lakewood, NY.
Thu, 06 Aug 2015 19:00:00 +0000
Dan and Scott try to help 6th grade teacher Joe Minnuto with his bad 403(b) choices. Topics covered include: 90-24 outside-of-plan exchange, 403(b) vs. a Roth IRA, Third Party Administrators (TPAs), Vanguard and TPAs, Aspire and open architecture plans, investor share class vs institutional share class, and the 457(b).
Dan drinks a Happy Camper IPA from Santa Fe Brewing Company of Santa Fe, NM; Scott drinks a Tower 10 IPA from Karl Strauss of San Diego, CA; Joe drinks a Buffalo Lager from Flying Bison Brewing Company of Buffalo, NY.
Thu, 23 Jul 2015 19:00:00 +0000
Dan and Scott offer advice on what to do if stuck with bad 403(b) choices. Topics covered include: How to know if you have a bad 403(b); Steps to take to get a better plan; and Foregoing a 403(b) for a Roth IRA. They also discuss the fee-finding resource 403(b)compare.com; Dan shares a bit about his recent trip to England where he took in a Liverpool football (soccer) match at Anfield. Scott shares a bit about his recent trip to Hawaii.
Dan drinks a Farmer's Tan Red Ale from Tractor Brewing of Albuquerque, NM; Scott drinks a Diesel Punk from World Brews of Novato, CA.
Thu, 09 Jul 2015 19:00:00 +0000
Dan and Scott continue their discussion on the much misunderstood 403(b). Topics covered include: pre-tax 403(b) contributions; post-tax Roth 403(b) contributions; options for a 403(b) when leaving an employer; penalty-free acess to the 403(b); hardship withdrawals and what happens to a 403(b) during a divorce. Scott gives his verdict on Dan's 2001 decision to roll over his CalSTRS pension into an IRA when he left California.
This is part 2 of our podcast on the 403(b) which was recorded right after part 1 where we drank beer. While two beers in one day of recording sounds like a good idea, it probably wouldn't make a good podcast. Two beers in one sitting might make us do something really unwise like recommend high fee variable annuities.
Thu, 02 Jul 2015 19:00:00 +0000
Dan and Scott discuss the much misunderstood 403(b) retirement plan. Questions addressed include: What is it? How does it work? How can it be invested? How much can be contributed? When can it be accessed?
Dan drinks a Riverwalker IPA from Bosque Brewing of Albuquerque, NM. Scott (with apologies) drinks a Blue Moon from Coors Brewery of Conglomerateville, INC.
Wed, 24 Jun 2015 19:00:00 +0000
Dan and Scott discuss how teacher pension plans work. Dan describes how in 2001 when he left the state of California he rolled over his CalSTRS pension into a Vanguard Rollover IRA. Scott is not sure that was a good idea.
Dan drinks a Wildflower Wheat from Marble Brewery of Albuquerque, NM; Scott drinks an Orange Wheat from Hanger 24 Craft Brewing of Redlands, CA.
Wed, 17 Jun 2015 19:00:00 +0000
Dan and Scott describe how they got into teacher retirement plan advocacy. They also lay out their vision for the Teach and Retire Rich Podcast.
Dan drinks a Red Ryeot from La Cumbre Brewing Company of Albuquerque, NM; Scott drinks an Upheaval IPA from Widmer Brothers Brewing of Portland, OR.