As the adage goes, charity begins at home. And I hope that school district administrators and teacher unions will see this dire situation for what it is: an opportunity to take a stand for their colleagues. For too long, teachers have suffered at the hands of salespeople peddling investments with offensively high fees in their 403(b) plans. What is supposed to be a great benefit and a responsible way to prepare for retirement has turned into a deceptive dance, with teachers blissfully unaware Read on...
Break Free
One of the ways to assess how well an investment serves you, is to look at the fees. Yet many investors have no idea what they are paying. When teachers ask me to assess their current 403(b) plan investments, many are horrified to learn they are paying over 2%. How could they be unaware of the fees, you ask? It’s simple. I’ve come across many an investment statement has a line item that says FEES $0 (or a minimal administrative fee, like $30 for the year). Clearly, there Read on...