Teacher 403b Plans - Must Know if You are a K - 12 School Employee

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  • čas přidán 8. 09. 2024

Komentáře • 19

  • @briankelly7920
    @briankelly7920 Před 3 měsíci

    Thanks dude...only 25 years too late!!

  • @uppercut147
    @uppercut147 Před 2 lety

    For all of the reasons stated in this video and more, I have a self-managed Roth IRA, as well as a regular investment account. But this is all good to know to explain to my other teacher friends if they feel a 403b is really best for them and their needs.

  • @lacquerhead2665
    @lacquerhead2665 Před 2 lety

    Thank you for this so much. I’m a teacher in PA and I’ve had a 403b for about 10 years and it never seems to grow much. I will look at my statement closer and check into the fees. This video was very valuable to me, I appreciate it!

    • @SchoolofPersonalFinance
      @SchoolofPersonalFinance  Před 2 lety

      Thanks Lacquer!! I’m so glad it was helpful.

    • @kurpal8904
      @kurpal8904 Před rokem

      Does your school match any % you put in?

    • @lacquerhead2665
      @lacquerhead2665 Před rokem

      @@kurpal8904 they don’t match my 403b. That’s just an extra account I did through the school.

    • @kurpal8904
      @kurpal8904 Před rokem

      @@lacquerhead2665 okay, so it’s not like a private sector where they match up to 5% 401k? Thank you.

  • @aykanushkeshishyan1641

    Thank you Rick for this valuable info. Being a nurse , signed up for 403b that was offered by employer, even though its great that they do match 100% for up to 5% contributing to the plan, but i should check my statement for all of thoae fees that you talked about and brought to our attention.
    Thanks again

    • @SchoolofPersonalFinance
      @SchoolofPersonalFinance  Před 2 lety

      Thank you!

    • @wendycampbell8380
      @wendycampbell8380 Před měsícem

      Also remember all of the fees are not always listed on your statement. Many of them are hidden fees and spread out all over the place. I think the website he mentioned is a place to help you start uncovering the information. The high fees can cost us a difference of hundreds of thousands of dollars in the end.

  • @YenVo-ve3br
    @YenVo-ve3br Před 2 lety

    Hello Rick,
    Great tips as always.

  • @lanceheu8258
    @lanceheu8258 Před 2 lety

    How do feel about Transamerica 403b plan with a company match up to 6%? I really don’t know what that means also they won’t match Roth IRA or any other plan

  • @kurpal8904
    @kurpal8904 Před rokem

    Is it normal for public school not to have any matching for their 403b plan? I noticed that whatever she put noting was getting matched. School in CA.

    • @SchoolofPersonalFinance
      @SchoolofPersonalFinance  Před rokem +1

      Yes it is common for public school district 403b plans not to have any match….which sucks.

  • @ret4kind
    @ret4kind Před 2 lety +1

    I always thought you're a sussy baka but turns out you're a gigachad for telling the plebs about their fees.

    • @SchoolofPersonalFinance
      @SchoolofPersonalFinance  Před 2 lety +2

      I think this is a compliment??

    • @Alvin_1914
      @Alvin_1914 Před 2 lety

      @@SchoolofPersonalFinance susa buka = shifty person, gigachad = Thee Man, Plebs= everyday people. It is indeed a compliment.