A little bit of knowledge is a dangerous thing, and last week the New York Times published a pearl-clutching article that contained a little bit of knowledge. They reported that a TIAA (formerly TIAA-CREF) insider had filed a whistleblower complaint alleging: "that TIAA began conducting a fraudulent scheme in 2011 to convert 'unsuspecting retirement plan clients from low-fee, … [Read more...] about How you might be, but probably aren’t, affected by the TIAA “scandal”
Workplace 403(b) retirement plans are, very roughly speaking, the non-profit and public sector's answer to the 401(k) retirement plans offered by private companies. If your workplace 403(b) account is administered by Vanguard, you probably recently received a letter explaining some changes to your account. The most important changes are: a change in fee structure from a … [Read more...] about What should you do if your Vanguard 403(b) account is getting access to Admiral shares?
Here at Saverocity, our glorious leader Matt and I have a difference in opinion, which is always more fun than agreement, so I thought I'd take a few minutes to give the strong form of our disagreement. I don't think either of us actually holds the strong form of these opinions, but the strong form illustrates the difference most dramatically. Anyone who has met Matt knows … [Read more...] about Accelerating payments versus making good decisions
The other day someone on Twitter linked to this very interesting essay by Marc Andreesen of Andreesen Horowitz, the prominent venture capital firm, which I highly recommend if, like me, you missed it when it was published in 2014. I think the essay crystalized for me two points in the cryptocurrency/blockchain discussion that are sometimes passed over or muddled. The … [Read more...] about Bitcoin seems fine, but there’s no reason to own any
Roth IRA's are interesting vehicles because, among other things, contributions can be withdrawn at any time penalty-free. Since contributions are capped annually but can be withdrawn at any time penalty-free, this leads to the following logic: make your maximum contribution each year whether or not you intend to invest it. After all, if you need the money later you can always … [Read more...] about How good are Roth IRA’s for emergency funds?