Karla Kirkling, executive director of healthcare and benefits at Chicago Public Schools shares how she used data, facts, and common sense to create one of the best single-vendor K-12 403(b) in the country. It is plan that will save employees tens of thousands of dollars in fees over the lifetime of their careers.    City of Chicago 403(b)/457(b) Plan 403bwise Grade of City of Chicago Plan Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Cullen Roche is an economist, author, father and Founder and Chief Investment Officer of the Discipline Funds, a low-fee advisory firm. Jan Hatzius FRED Economic Data (St. Louis Fed)State 457(b) Plan Rating Project Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Every state runs a generally excellent 457(b) plan that firefighters, police, and other state employees contribute to. These plans often have large assets under management which leads to extremely low-cost investing options. Many states permit educators to contribute to these plans. Unfortunately not all do. We discuss our new tool that allows users to search state 457(b) plans for eligibility, plan costs, availablitly of low-cost index funds and other metrics.  State 457(b) Plan Rating Project Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Audio recording of our September 25, 2024 event with Lucretia Ryan about the dangers of choosing Medicare Advantage. It is recommended that you click link (below) to visual accompanying Lucretia's presentation before listening to audio.  Visual Resource to Accompany Lucretia's Presentation  Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Little known role — Compliance Administrator — can have massive effect on 403(b)/457(b) quality. Many school districts are being misserved and they don't even know it. Dan also shares a private jet story.  Are Educator Retirement Plans Getting Hijacked by Compliance Administrators? Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Former custodian Jeff York talks retirement and the joy it has brought him. He also talks finances — including a bold approach to homeowners insurance — and a little fishing. 2019 Podcast with Jeff Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Jesse Cramer went from designing satellite telescopes to financial planning. The host of The Best Interest Podcast talks career transition, Rochester, N.Y., and financial planning.  Best Interest Podcast Best Interest Blog How Much Life Insurance Do You Need Equitable SEC Settlement Our Pod on the SEC/Equitable Settlement  

Pennsylvania advisor Gibson McCracken talks about his time at Equitable and how he's serving educators now.  Flick Financial The Teacher Tribune Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Scott and Dan have a heart-to-heart about new 403bwise.org tools to help pre-service teachers get wise to the 403(b) and teacher retirement plans.  On-Demand Learning Module for Pre-Service Teachers YouTube video for Pre-Service Teachers Blog Post: Inoculating Pre-Service Teachers From 403(b) Sales Sharks Equitable SEC Settlement Our Pod on the SEC/Equitable Settlement Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Award-winning meteorologist and fin lit fan Greg Dee of ABC Action News in Tampa, FL talks investing, forecasting, and a day in the life of a weatherman. Greg Dee, ABC Action News Tampa, FL Award for Broadcast Meteorology (for life saving work) Equitable SEC Settlement Our Pod on the SEC/Equitable Settlement Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

The law firm of Dicello Levitt LLP filed a class action lawsuit against Equitable Financial Life Insurance Company. They allege that Equitable charged investors significant undisclosed fees on their EQUI-VEST variable annuities.  Case Summary Contact Law Firm Equitable SEC Settlement Our Pod on the SEC/Equitable Settlement Bills Fan Wins Fanatics Fest Costume Contest and Tickets to Every Major Domestic Sports Championship Our Pod with Bills fan Sarah Petersen Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Part two of our inteview with Joel Larsgaard and Matt Altmix of the How to Money website and podcast. How to Money Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Popular podcast hosts and best friends Joel Larsgaard and Matt Altmix of the How to Money website and podcast, talk friendship, podcasting, and money (pt. 1).   How to Money Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

On more than one occasion we have heard red-rated vendors declare that fixed insurance products are now subject to a best interest standard for 403(b) sales in most states. This is false.   Comparing CFP Board’s Code of Ethics and Standards of Conduct to The NAIC’s Suitability in Annuity Transactions Model Regulation #275 Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Dan and Scott discusses Dan's medical scare and market volatility.  From Soft Landing to Emergency Landing? by Cullen Roche Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Dan shares some of his financial mistakes. He also takes a quick trip down his journalism career memory lane.  Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Episode 1 of the 5-part series Learned by Being Burned the short pod series where teachers share how they were sold high-cost annuity products, the barriers they face to getting better, lower-cost investment choices, and the growing advocacy movement working to fix the K-12 403(b). Note: This episode previously ran two years ago. We thought our growing audience would enjoy hearing this first episode. We will return with regular Teach and Retire Rich episodes next week. The entire series is available on all major podcast platforms. Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b). Episode transcripts also available via this link. 

Scott and Dan get a little personal before talking about NTSA’s so-called Elite Advisor Awards. Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org  

Greta Tinaglia, Deputy Chief Financial Officer at Fulton County Schools in Georgia, describes the process of moving their 403(b) plan to one low-cost vendor. The result? Less confusion, bureaucracy, and an 80% fee drop.   Fulton County Public Schools 403(b) Plan  Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

The 403(b)ill of Rights is one of the first 403(b) blog posts Dan ever wrote. It first appeared around July 4, 2000. Over the years we have made incremental improvements to it. What follows is a refresh. The new Amendment 12 may be considered radical. Frankly, it's radical that it is even needed.  403(b)ill of Rights Refreshed Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

After a career at IBM, Lucretia Ryan founded Financial Freedom for Women, an organization whose goal is to help women gain financial independence. In addition to writing about financial issues, she puts on free retirement optimization workshops for women. After helping her late mother navigate healthcare in retirement, Lucretia warns about the dangers of Medicare Advantage.   Financial Freedom for Women 9.25.24 Event: Medicare "Advantage" Dirty Little Secrets Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org

Teacher and podcast host Shaun Morgan talks saving for retirement. The Teacher Money Show Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

We talk journalism, 403(b), and the personal finance beat with Anne Tergesen, reporter for The Wall Street Journal.  Anne Tergesen Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Maggie Mason is a retired English teacher from Santa Barbara who put on a highly successfully free financial seminar to benefit her colleagues.  Santa Barbara Education Foundation Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Illinois educator-turned state legislator Karina Villa — who was once sold an unsuitable, high-cost 403(b) — proposed a K-12 403(b) reform bill that would have ended front-end and back-end loads. It would have capped advisor fees and administration fees at 0.50% respectively, and it would have required vendors to offer low-cost index funds and low-cost target date funds. Of course, the bad actors in the industry hated it. And of course they flooded the zone with money, lobbyists, distortions, and outright lies.  Senator Villa discusses the legislative process, the pushback from high-cost vendors, lobbyists, and the National Tax-Deferred Savings Association, and how close the bill came to becoming law. She also shares what's next for 403(b) reform in Illinois.  Senator Karina Villa SB2568 Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Teachers-turned fiduciary advisors Emily Maretsky and Andrew Katz-Moses, CFP® share their journey from the classroom to full-time planners in this live 403bwise Event.   Emily Maretsky Teacher Financial Planner Katz-Moses Financial  The Externship (deadline May 24, 2024) Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Scott refutes National Tax-Deferred Savings Association research claim, among other things, that the multi-vendor environment leads to more enrollment than single vendor.   Debunking the NTSA’s 2018 "Improving Retirement Savings for America's Public Educators" study NTSA "Study"  403bwise Zoom Event on May 21: Curious About Becoming a Fiduciary Advisor? Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

We check in with fiduciary advisor Andrew Katz-Moses CFP® five years after the big move to full time advisor.  Katz-Moses Financial 403bwise Zoom Event: Curious About Becoming a Fiduciary Advisor? Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Well that was quick. As is this pod. Something called — perversely, I might add — the Federation of Americans for Consumer Choice, Inc. (“FACC”) has filed a lawsuit to stop the new Fiduciary Rule even before it goes into effect on September 23, 2024. New DOL Fiduciary Rule Fact Sheet New Fiduciary Rule Not All Bad for K-12 403(b) Participants FACC Lawsuit Against Fiduciary Rule Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Does the new Fiduciary Rule have teeth? Does it apply to the 403(b)? We also discuss our May 21 event for those curious about becoming a fiduciary advisor.  New DOL Fiduciary Rule Fact Sheet 403bwise Zoom Event: Curious About Becoming a Fiduciary Advisor? Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Former teacher and NGPF alum, Brian Page, shares his new endeavor designed to help couples have better conversations and make better decisions around money and the sharing of family responsibilities. Modern Husbands Brian Page Money Magazine Money Hero ngpf.org Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

We address anti-union charges leveled at 403bwise.org  Shark Attack  NEA Valubilder Expose Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Rachel is a middle school math teacher from Western, NY. She paid off student loan debt in one year. At age 33 she has a Roth IRA, a 403(b), a 457(b) and a brokerage account. Oh, and she was born on 4.03b day — April 3rd. Instagram: @teachertomillionaire Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Dan and Scott talk discuss their keynote address to the Association of Teacher Educators.  ATE 403bwise Enlists Teacher Educators in Fight to Fix K-12 403(b) Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

To celebrate hitting 15,000 Facebook Group members we ask and answer 10 recent questions posted in this vibrant community.  Bad Vendors Who Have Good Plans How to Get Out of a Bad 403(b) How to Get Out of AXA/Equitable Working with a Financial Professional Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Veteran educator and 403(b) advocate Rose Mendonca of Lowell, Massachusetts is on her way to becoming a CFP®. She talks teaching, helping colleagues, and her next career act.  Teachers Talk Money Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Grab bag of topics: Illinois single vendor 403(b) legislation (AB 2568); Scott banned (again); IPX transitioning to Aspire; LAUSD adds Vanguard and the 403bwise Facebook Group is very close to hitting a milestone.   Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Jeremy Schneider talks selling a tech company, getting wise to financial literacy issues, and starting Nectarine, which aims to offer low-cost fiduciary advice. Nectarine @personafinanceclub Personal Finance Club Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Hockey playing (soon to be!) New York math teacher Sarah Peterson helps colleagues get wise to the 403(b) and the 457(b).  Peekskill City School District Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Wyoming 8th grade physical science teacher talks teaching, mountain guiding, and recovering from a house fire. He also discusses the excellent financial guide for teachers he has created (available below).   Trevor Deighton Retirement Planning Resource Black Diamond Presents: Safety First Photos of Cirque of the Unclimbables/Lotus Flower Tower Photos Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

The former personal finance columnist for The Wall Street Journal and current editor of the excellent HumbleDollar.com talks career, money lessons, and how he's approaching the next phase of his work life.  The Money Pit Things I Have Picked Up Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Liz Weston CFP®, longtime personal finance writer, jumps off the retirement cliff.  Retiring Wasn’t Easy Even After Years of Writing About It Investing for Retirement: Why You Might Want to Reconsider That 403(b) Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

A retired educator and administrator who used F.I.R.E. principles to retire early talks about earning her CFP®, passing the exam, and working with clients.  Mary Ann Sullivan Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

School custodian turned-accountant describes how the mentorship of Jeff York, who listeners to the podcast might better know as the Wealthy Custodian, helped set her on a path to financial stability.  The Wealthy Custodian The Wealthy Custodian Retires (pt. 1) The Wealthy Custodian Retires (pt. 2) Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).   

Indiana middle school teacher Thomas Ferguson cares as much about his colleagues retirement savings as he does his own. Not only does he help educate them on saving, he also runs the engaging Instagram account @IndianafinLit Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Did a Southern California benefits consortium fail to act in the best interests of educators? Normally we drop our pods on Friday morning. But this is a time-sensitive episode because of a meeting that will occur Friday, January 12th at 11am PST. In our opinion a Southern California consortium has failed to act in the best interests of educators. We describe the issue in this episode in the hope that educators and others will weigh in by submitting written comments before the meeting and/or attend the meeting via Zoom, which we readily acknowledge is very difficult given teaching schedules. FBC Board of Directors 1/12/24 Meeting (Zoom link) Meeting ID: 829 1185 8849 Password: 363162 403bwise.org Comments Submitted to FBC Board San Diego County Schools Retirement Program Outsources Financial Advisers Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Annual beginning of the year check-in with Barb O’Neill, CFP, AFC (Accredited Financial Counselor), and owner/CEO of Money Talk: Financial Planning Seminars and Publications, and a regular contributor to 403bwise. She shares what 403(b) participants need to know in 2024.  2024 Changes Affecting 403(b) Participants Secure Act 2.0 (pt 1) Secure Act 2.0 (pt 2) Secure Act 3.0 Pod Secure Act 3.0 Podcast Your Future Self: How to Make Tomorrow Better Today Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®). 

Happy Valley, PA Elementary teacher, Scott Fritz, is the co-author of a Fin Lit book for Pennsylvania teachers. He's also the go-to fin lit person at his school and district.  TL: DR: Financial  Literacy for Employees of Pennsylvania Public Schools Scott Fritz Website Learned by Being Burned - Short pod series about how teachers got burned then got wise to the 403(b) Meridian Wealth Management 403bwise.org Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).