Wealth Management Partnering with Teachers

Guiding Teachers Towards Financial Security

Teachers do an amazing job of educating and looking out for our children, but who is looking out for them when it comes to their retirement?

As the New York Times pointed out in an October 2016 article titled, "Think Your Retirement Plan Is Bad? Talk to a Teacher," there are a tremendous amount of pitfalls when it comes to planning a teachers retirement.  Don't let your 403(b) keep you from the retirement you deserve.

Be confident about your investing plan. Give us a call today. 

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3 Retirement Mistakes Teachers Make

1. Not Paying Attention to Cost - You're paying too much! Many 403(b)'s have very high costs and excess fees will reduce your ability to save and retire. More than 75% of 403(b)'s are in high cost annuities or high up front commission product. 

2. Getting Stuck in an Investment - Many 403(b)'s have surrender penalties which cause a lack of flexibility. Don't get stuck with a 5%-10% penalty which locks you into paying higher fees for a longer time. 

3. Not Having a Financial Plan - Is your 403(b) rep doing a financial plan or just selling you a product? Do you know if you will have enough to retire confidently?

Even Teachers Benefit From Teaching

You can rely on us to:

Add an extra layer of confidence about your retirement decisions by working with our experienced financial advisor who can teach you about investing and educate you about the best ways to save for retirement.

• Develop your retirement investing plan

• Keep you on track for the long-term

• Review all of your options and how they work together to give you a secure future —a retirement that offers you a choice of travel, visiting family or even volunteering your time to continue training young minds.

Reach out to your trusted advisor for a second opinion

As independent financial advisors, we can guide you towards the 403(b) that is in your best interest. 

No high up front commissions.  No lengthy surrender periods.  No expensive annuities.  No hidden fees.

A typical cost savings of 1% will save you $1,000 each year on a $100,000 account balance.

Jim Pilat           734-681-7575          jim@peakwm.com

Schedule a no cost second option today!

Additional Resources

Retire With Confidence 

EP 51: NYT: Think Your Retirement Plan is Bad? Talk to a Teacher

Financial Planning expert Nick Hopwood, CFP® and Jim Pilat, AIF® of Peak Wealth Management talk about the 403b investment landscape, focusing on a NYT article from a few years back. Fortunately we have arrangements with non-profit institutions such as Universities, school districts, and hospitals which all us to represent employees such as teachers, professors, doctors, and nurses with their 403b accounts at investment companies such as Fidelity and TIAA-CREF.

If you're looking for a second opinion on your workplace 403(b) account, please give us a call at 734-681-7575. 

Listen here

Retirement Blogs 

5 Mistakes Teachers and Making with their Retirement - Our thoughts on the biggest mistakes teachers are making

SEC Probing in 403(B) Plans for Teachers - Over 75% of K-12 teachers are in a high cost plan. Are you one of them? 

The Ultimate 401K, 403B, 457 Catch-up ContributionIf you work for certain tax-exempt organizations such as a hospital, university, or state/local government, you may be eligible for the mother of all catch-up contributions.

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Peak Wealth Management

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