Recently, I spoke to university students about teacher retirement planning, emphasizing setting up 403(b)/457(b) accounts, researching investment options, and avoiding financial advisors’ high-fee products. Additionally, I highlighted the importance of understanding healthcare plans, being selective in the job market, and being open about discussing finances. I advised starting an LLC for tax benefits and stressed the importance of proactivity in securing one’s financial future.
With high interest savings accounts paying out at 4.5% currently, it is a great time to establish those emergency savings accounts! Here at Teachers Stacking 10’s, like many other financial gurus, we recommend having a few months income built up in a savings account that is easy to access. Experts vary in how much is…
The debt snowball method is the BEST way to pay off your debt!
The majority of homeowners don’t feel like they are able to do repairs around the house, but just a little research can save you THOUSANDS of dollars by learning to do it yourself.
I started a new business to add some summer income.
Final results of the 2023 MN Legislative Session..
2024 MN Legislative Update and How It Affects Your Teacher Pension
Minnesota’s 2023 legislative session offers minimal hope for Tier 2 teachers seeking pension reform. With limited funds and prioritized bonding cycle considerations, only a minor improvement to Teacher Retirement Association pensions has been achieved—shifting the Normal Retirement Age from 66 to 65 in 2024. This change barely addresses teachers’ needs for reasonable mid-career and full-career retirement rules without heavy penalties. Hopes now rest on a potential investigative revelation or a last-minute legislative save by May 20th.
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