I am in my second year of teaching. I know that teachers have a retirement plan, as it comes out of our checks.

Many companies visit our school trying to sell insurance, other plans, etc. I am interested in knowing whether or not I need to do an additional 401k plan. I was approached last year by a person at out school offering 403 plans. This year it was 401K. Do I need to take part in these plans? What do teachers really need? I have heard from retired teachers that their retirement was enough without these types of plans, but I know that times have changed. Any input would be greatly appreciated.
Thank you.

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!