Comments on: This question is for teachers. I am new to this profession and I am curious about retirement planning?

By: Alan J

Alan J — Fri, 05 Mar 2010 10:06:59 +0000

Here in Texas, a teacher’s retirement was always the best incentive to be a teacher. But now they have raised the retirement age and basically lowered how much salary you base your retirement on. Who knows what will be next. If you can, start your own 401. Teachers can have 403b plans, but a 401 is the same. Actually, it seems like you have more control over a 401. 403b’s are only sold by insurance companies and they only offer a few funds to invest in.
Hope you have a good year. Remember, be ready for the year before it starts. Not that you always can, but it helps to try. Good Luck!
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By: Ashlyn R

Ashlyn R — Fri, 05 Mar 2010 09:21:59 +0000

yup
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By: Kiki

Kiki — Fri, 05 Mar 2010 08:41:59 +0000

It really depends on the type of lifestyle you hope to have when you retire. Many teachers that I know have said that between the pension and social security, it is enough to live on comfortably, except for the health insurance. These teachers often continue to work part-time jobs or substitute teach (in order to pay premiums) until they are old enough to receive medicare (that's the one for senior citizens, right?)
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