NGPF Podcast: Dina Isola and Scott Dauenhauer share insights on managing your 403(b) and 457 plans

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Nov 13, 2020
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Podcasts, Investing, Tips for Teachers, Behavioral Finance, Advocacy

Dina of Ritholtz Wealth Management) and Scott of Meridian Wealth have a shared goal: for every teacher to have access to high quality vendors for their 403(b) and 457 retirement plans. At a recent NGPF Speaker Series event, they shared insights gained from working with scores of teachers and analyzing thousands of plan documents. Listen to this podcast and walk away with practical knowledge you need to analyze your own plan as well as tips on how to advocate for better plans. Enjoy!

Details:

  • 0:00~0:45 Introduction
  • 0:45~4:31 Dina speaks about her work at Ritholtz Wealth Management
  • 4:31~9:30 Scott speaks about his work at Meridian Wealth Management and 403bwise
  • 9:30~15:46 The impact of COVID on the economy 
  • 15:46~22:35 403(b)s and 457(b)s
  • 22:35~30:27 What makes a good plan for teachers?
  • 30:27~33:13 Why index funds are considered to be a good choice?
  • 33:13~41:32 What questions should you ask your financial advisor?
  • 41:32~49:46 Teachers advocating and teaching about 403(b)s and 457(b)s
  • 49:46~50:40 Conclusion

Resources:

Quotes:

  • “The person who shows up to your lunchroom with sandwiches, pizza, or breakfast items is not there to feed you. They are there in order to feed themselves. Those sandwiches are a loss leader to get you into products that aren’t good for you. Even if they are a high-quality sandwich, I’m going to call them junk food because they eventually lead to product sales that are not in your best interest.” -Scott

  • “I had testified before congress about inequities and investor protections that I thought were lacking. And I came back from DC so angry and disgusted by what I saw and what was being defended that was indefensible in my opinion. To me, the only solution was education. We were going to a local school to teach financial literacy and frankly, that’s the only thing that lifted my spirits because I was so steamed about what had gone on and we really have to educate people.” -Dina

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Ren Makino

Ren has been working part-time at NGPF since 2014, interning through high school and college. With his knowledge growing alongside NGPF, after graduating from college in 2020, he joined the team to work full time with a focus on teacher onboarding. He is also the editor of the NGPF podcast and makes sure it is accessible to teachers on iTunes, Stitcher, and Google Play Music. During his free time, he likes to try out coffees from different roasters across the world and try out new brewing methods, even though personal finance gurus tend to caution against buying a cup of joe.