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.
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.
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.
We talk 403(b) Church Plans with Chicago area rabbi Evan Moffic of the Congregation Sole.
Mark Eichenlaub, a 7th grade teacher in Illinois, discusses how he was able to get his employer to add a quality, low-fee vendor.
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.
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.
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.
Debby Karton of IPPFA Benefits helps employers move to a single vendor.
Dan's daughter Lily discusses the process of choosing a college. She also offers tips for high school kids just starting this process.
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.
Retired teacher Steve Schullo and 403bwise founder Dan Otter share what it is like to lose a spouse. They also discuss the financial implications of losing a loved one.
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.
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.
What do you need to know when working with an advisor?
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.
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.
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.
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.
Dan and Scott take a look back at their 2015 investing successes and failures. They also share 2016 savings plans and investing goals.
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.
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.
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.
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.
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.