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Rusty’s resource picks

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Brenda Echeverria Rusty Wulff, a teacher in the Fontana School District who started a financial mentor group with his colleagues last year (“The Reluctant Mentor,” Fall 2013 issue of your$ magazine), shared his favorite financial resources for those who want to beef up their knowledge about personal financial matters or start a personal finance group. We think you might find some favorites here, too.

The Retirement Gamble (Frontline, air date April 23, 2013), takes a critical look at inherent conflicts between the financial services industry and investors in an easy-to-understand manner. When discussing fees and how they eat into retirement savings, Rusty liked what Jack Bogle, the founder of The Vanguard Group, said: “It doesn’t take a genius to know that the bigger the profit of the management company, the smaller the profit the investors get.”

"Wise Guy" (article about Dan Otter, Summer 2012 issue of your$ magazine). Otter is a teacher, author, and
403(b) expert and advocate for quality, low-cost 403(b) options for public school employees. Rusty stated, “When I read the interview, I felt really good about what we have available to us here in Wisconsin. His book Teach and Retire Rich and podcasts are worth checking out as well.”

The Enrollment Booklet for the 403(b) and IRA programs offered by Member Benefits, which provides a step-by-step educational approach to retirement saving and investing. “If anyone How will you fund this portionwanted to start something up in their school with colleagues, this is a wonderful point of departure,” said Rusty. “Do the survey and then hand out this enrollment packet.”

Sources of Retirement Income pie chart developed by Member Benefits. This illustrates what most Wisconsin public school employees who have 25–30 years of service can expect from the three main sources of income in retirement: Wisconsin Retirement System (the state pension), Social Security, and personal savings.

Warren Buffet, widely considered the most successful investor of the 20th century. Rusty said, “When the market dived in 2008, he looked into the camera with that kind, wise face and said, ‘When everyone else is scared, I’m buying. Everything is on sale, folks.’ So, we did that as a family. We invested more. It was really scary to do, (laughs) because we just watched everything we had drop 40%.”

If you have questions about retirement savings, give us a call at 1-800-279-4030.

Brenda Echeverria, Financial Planner

This article is for informational purposes only and not intended to be legal or tax advice. Consult your tax advisor or attorney before taking any action. The 403(b) retirement program is offered by the WEA TSA Trust. TSA program registered representatives are licensed through WEA Investment Services, Inc., member FINRA.  The Trustee Custodian for the WEAC IRA accounts is Newport Trust Company.