Tag Archives | retirement accounts

403b Plans And What Teachers Need To Know

403b Plans And What Teachers Need To Know

Retirement investing for teachers can be confusing. In addition to pensions, teachers can have access to 403b and 457 plans. There are also considerations related to Social Security. It’s no wonder many teachers are scratching their heads. 403b plans were first introduced roughly 50 years ago. They are sometimes called Tax Sheltered Annuities or TSAs. Long ago, annuities were the […]

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CalSTRS Won't Be Enough

CalSTRS Won’t Be Enough For Retirement

CalSTRS won’t be enough for your retirement and I know that sounds harsh. While having a pension can bring a sense of comfort, teachers must resist this false sense of security. Relying on your teacher’s retirement pension alone might be harmful to your financial health. According to the California Teachers Association website CTAinvest.org “the median CalSTRS pension […]

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403(b) and 457 Plans

How 403(b) and 457 Plans Work Together

If you’re a public school teacher in California, there’s a lot to consider when saving for retirement. In fact, teachers have more choices than employees in the private sector and the options can be confusing. In addition to some of the nuances involved with CalSTRS and Social Security, many teachers are eligible for 403(b) and […]

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Avoiding The IRA Early Withdrawal Penalty

Avoiding The IRA Early Withdrawal Penalty

Avoiding the IRA early withdrawal penalty is not always always top of mind for IRA owners. These accounts have special advantages when compared to traditional investment accounts. With an IRA, the account owner incurs no annual tax liability resulting from interest, dividends, and capital gains. As long as there are no withdrawals (distributions) from the IRA, […]

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Required Minimum Distributions: The IRS Loves It When You Turn 70

Required Minimum Distributions: The IRS Loves It When You Turn 70

The IRS loves it when you turn 70, but you won’t get a gift or even a card. The Infernal, I mean Internal Revenue Service can’t wait to get their hands on your hard earned dollars. Happy birthday and get ready to pay more taxes thanks to three little letters, RMD. Required Minimum Distributions or […]

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