403(b) on a Card

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.


This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.