Teachers finances are intentionally made to be unnecessarily complicated and expensive. This is the result of the toxic combination of conflict driven salespeople combined with mass financial illiteracy.
Helaine Olen and Harold Pollack just came out with a great book that reinforces the fact that personal finance does not have to be complicated. In fact, so called “sophistication” is a deliberate strategy that is shrewdly implemented by financial companies and the media.
Their intent is to separate people from their hard earned money with deception and subterfuge. Most people could get all the financial advice they need from a simple index card rather than a complex computer algorithm.
Teachers are often victims of deceptive practices involving their 403(b) plans. Complexity often serves as a hiding place for egregious fees and unsuitable investment products.
Being a former teacher, I understand that most people are visual learners. Images and diagrams are often more effective than thousand word blog posts.
Here is a mind map on an index card designed specifically for teachers. Keep it nearby the next time a salesperson wants you to sign a fifty page variable annuity contract that even he doesn’t understand.