Teaching isn’t typically synonymous with accumulating vast quantities of wealth but our guest today, Dan Otter, is here to say otherwise. And actually, it turns out that teachers have a way to totally supercharge their retirement by investing even more money than they otherwise thought possible – that’s just one of the many topics we cover. But Dan Otter is an elementary school teacher turned 403b hero in the world higher ed and teachers. He is the founder of the much referenced site, 403bWise.org, and we’re pumped to discuss the different ways that teachers (a massively underappreciated profession BTW) can financially prepare for their futures. We discuss how to know whether your 403b is any good, why more options doesn’t necessarily mean better options, alternative paths to consider if your 403b is crummy, and plenty more today!
Additional links:
- 403b Wise Website – 403bWise.org
- And we specifically called out their podcast, Learned by Being Burned, as a great wake up call to realize how bad of a situation many teachers find themselves in.
- For some one on one help, the next ‘office hours’ is August 21
- 403b Rollover – If you’ve got an old 403b plan from a previous teaching life, roll that sucker over to an IRA! There’s a free service — Capitalize — that can help you do this quickly and painlessly.
- HTM Newsletter – Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
- Credit Card Tool – Looking for the right credit card for you? Then check out our new credit card tool that’ll help you to easily filter through all the cards based on your preferred airline, whether or not they have an annual fee, or simply by the cashback offer! Just toggle the sliders and you’ll know which card to consider.
During this episode we enjoyed a Blanche De Nashville by Yazoo Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
