Retirement Planning Savings Plans All Day Investment Workshop Results

LAUSD/UTLA 403b/457b Investing Workshop

Saturday, November 15, 2014

Here were the workshops presented:

1. Rick Rodgers Keynote and Lunch time talk
2. Art Wexler 457b Presentation
3. Teacher Crystal Mendez’s Story, how she saved $160,000 by age 33.
4. Retired Teachers Steve Schullo/Dan Robertson (Financial Journey with 403b/457b plans). What happened when they experienced two of the biggest stock market crashes in history and what they did to sustain their retirement plan.
5. Q and A’s
6. Informal discussions with presenters

37 out of the 50 filled out the evaluation questionnaire: ALL BUT ONE LOVED THE WORKSHOPS and the objective information provided! Below is what they said about their experience:

1. Did today’s workshops meet your expectations? Why or why not?

34 said “YES” 1 said more or less and 1 said “boring”.

Detailed comments:

1. Yes, although I’ve been two previous times, still learning at the workshop.
2. Yes, but I feel it just touched the surface.
3. More or less. I have a better understanding of the difference between a 403 and 457.
4. Yes, understanding of retirement investments.
5. Not bad, very informative.
6. Yes, I got a lot of information about investing 457b and 403b.
7. Boring, 3 or 4 presenters presented slowly and confusingly.
8. Yes, I learned a lot and learned I need to learn more.
9. Yes, Rick Rogers very knowledgeable/personable/organized.
10. Yes, great workshop!
11. Yes, very informative.
12. Yes, it was very informative.
13. Yes, I attended the conference in the spring, just came today for a refresher.
14. Yes, Identified elements crucial in preparing and planning for retirement.
15. It was great! Thank you so much!
16. Yes, I am so new to investments some questions were answered.
17. Yes, I think more interaction would help maintain attention.
18. 1st time attending. found info interesting and useful.
19. Yes, learned difference between 2 different kinds of investments.
20. Yes, now I understand that I have more options.
21. Yes, lots of useful information and points of view from the presenters.
22. Yes, good informed speakers. The importance of investing.
23. Yes, as always Mr. Rodgers is very clear in his explanation. Do we have someone like him locally?
24. Yes, it taught me more about the 457 (b).
25. Yes, the information was well presented.

2. What was the MOST important workshop or information provided?

Nine participants said that Rick Rogers was great.

1. Three said Q&A
2. Three said each for Steve/Dan, Art’s 457b presentation and Crystal’s story.
3. Two said, that learning to use bonds as part of asset allocation.
4. Three mentioned information about the 457b plan.
5. Two wrote only one word: “DIVERSIFICATION!”

Other comments:

1. It’s very good to listen to people who have gone though the ups and downs of the market.
2. Speech from Art (on 457b plan).
3. Financial products available.
4. Comparing investments and longevity, charts and risk vs. reward chart.
5. How to take your money out at retirement.
6. The difference between active vs. passive funds and Target date fund, front & back load to be checked in the prospectus.
7. The importance of investing to supplement the teacher’s pension.
8. Clarification of fees and penalties.
9. All the information was important for me.
10. Stock, mutual funds info.
11. Types of investment strategies and explanation of investment tools.
12. Rick was very helpful. Please put it on the website.
13. I learned to invest in the 457b rather than the 403b.
14. Rick did a good job of outlining issues facing retirees.
15. Last time I attended, I was determined to develop a budgeting system. I had a spread-sheet previously, but I frequently went over budget. I researched Quicken and Mint.com, but ended up using YNAB (you need a budget) and it has been very helpful.
16. Rick was great. He gave a great overview. Very educational, informative and clear and direct.
17. Fundamentals of investing and info about 457b plan.
18. Rick’s overview of investing.
19. That I need to stop contributing to my annuity account! and that I need to have a plan!
20. I liked the information Dan and Steve’s story provide. They are detailed and good advice.
21. Information by Rick was quite valuable.
22. How to invest in retirement.
23. Understanding the differences between stocks, bonds and mutual funds.
24. Really enjoyed everyone, but Rick was hilarious and informative. I really appreciate Art’s honest answers (not that anyone was dishonest). I just know some things he said were very unbiased.
25. It helped me plan my future. It provided me with the best plan to put my money in.
26. All of the info was important.

 3. What was the LEAST important workshop or information provided?

27 people left this BLANK! Almost all said everything was great!

1. 4 mentioned about too many personal questions.

Other comments:

1. Convincing us of the importance of investing at the beginning since we are already part of the “choir.”
2. The 457 presentation was OK, but still a little fuzzy on how it works/differs from 403b.
3. I think Rick’s presentation covered too many things. I hope thy are more focused and less info (Only one person said this).
4. Info about credit unions/insurance.

4. What material and topics should be covered in future investment workshops?

       1. Three participants mentioned more in depth about mutual funds and the difference   between 403b and 457b.

      2.Two people wanted to know how much to save per month

3. Two wanted handouts of Rick’s presentation.

 Suggestions for topics:

1. ETFs
2. Finding Fee Only financial advisers
3. College savings plans, show more specific examples of how much I should be investing every month.
4. More case studies of how individual teachers/investors have fared as a result of the decisions they’ve made.
5. Move the podium to the side so we can see the presentation.
6. Talk about the 457 vs. Roth IRA as an option.
7. How to actually enroll. I did, but I had to call.
8. Examples of portfolios
9. More info on every typical teacher-for example, not dwelling on accounts you should have.
10. More info on mutual fund research and suggested reading. i.e. Bibliography or sources.
11. Portfolio selection advice.
12. Strategies and examples of individuals with lower assets.
13. Internet connections so info is readily available.
14. More on stocks, bonds and mutual funds.
15. I would like to repeat this workshop.
16. More detailed information on late starters-how many (amount or %) to take out of paycheck, balancing risk vs. age when starting investing later in life.

Suggestions:

1. How to get more teachers involved?
2. Rick Rodgers/need PPT handouts and font on his PPT was too small.
3. Something similar to bagels, but not refined flour, please.
4. Share budget sheet, more breaks.
5. Small chunks, this is heavy stuff, takes time to process.

 5. How did you hear about this workshop?

5. Friend or Spouse                                                                    Two
6. UTLA or LAUSD Staff Meeting announcement                       Nine
7. Social Media (Facebook, LinkedIn, Twitter, other: ________ (Nobody picked SM)
8. United Teacher Newspaper Ad                                              Twenty-two
9. Other (please elaborate), use back of form if necessary.    Two from Emails from the Coordinator.