WELCOME Los Angeles Educators

(September 2015, update: Dan, on the right, died later that year from cancer)

Late Bloomer Wealth!  Scroll down for a CALL TO ACTION!

Our names are Steve Schullo (Taller one) and my late hubby, Dan Robertson, with our dog Sammi in front of our home in Rancho Mirage, CA. We are retired educators. Our blog and our personal finance books are about how two educators without any formal financial training did just about everything wrong:

• started saving late,
• bought horrible annuities for our 403(b) retirement plan,
• didn’t have a financial goal,
• got too confident during the run up of the tech bubble and ultimate 2000-2002 stock market crash,
• made mistakes,

But what we did right is that we did not blame each other but learned from these negative, and sometimes, painful experiences and still managed to save enough for our retirement so we could say adios to the classroom earlier than most educators, and we wrote a book about it so you will not make the same mistakes! 

I (Steve) worked as an elementary teacher at Hoover, Politi and Alta Loma, and was a technology coach for Cochran MS for 24 years before retiring in 2008. Dan is a retired teacher from LAUSD, where he started teaching sp. ed. in the 1960s, went on to Cal-State Los Angeles and subsequently developed a computer training program at the LGBT Van Ness Recovery House. He also wrote Special Ed grants.

We both saved for retirement in our 403(b) plans. But before you start your plan, read my free downloadable book: Just scroll down on the right, register for our blog and get the free book: Fighting Powerful Interests. You can always opt-out later. We have tons of information and links to financial experts that Dan and I trust relating to personal finance. All of our information is based on our experience. We are not professional financial advisers.

Take a look around. But first, to help you get started here are some important prior articles and links about the LAUSD’s 403b and 457b plans specifically for LAUSD employees.

Click here for numerous reviews from people who know about what we have done to help teachers save for retirement. Here is one book reviewer’s example: Pure, unadul­ter­ated and hon­est finan­cial advice from a cou­ple of guys who have per­se­vered through every­thing life has thrown at them. It’s rare to get such a per­sonal account of someone’s finan­cial life, Late Bloomer Mil­lion­aires is really a finan­cial mem­oir.  Steve and Dan walk you through their finan­cial lives and give you an all access pass to their strug­gles, tri­umphs, defeats and their vic­to­ries. I can tell you this, you will NOT read another per­sonal finance book like this one. It is more than just a finan­cial book, it’s a heart­warm­ing jour­ney of love, rela­tion­ship, and growth that uses per­sonal finance as the cen­tral theme. This is non­fic­tion at its best and an adven­ture worth expe­ri­enc­ing. By the end, you will feel smarter and empow­ered finan­cially and full of hope that you can do this thing called life…I mean, retire­ment!
—Scott Dauen­hauer CFP, MSFP, AIF scott@meridianwealth.com 

A. CALL TO ACTION: The 457(b) Roth is Coming to LAUSD. BUT Teacher Larry Shoham from Hamilton HS needs your support: roth4lausd@gmail.com . Check out his guest article about the Roth’s phenomenal strategy and incentive to save for retirement. https://old.latebloomerwealth.com/retirement-planning/a-case-for-the-roth-457b-at-l-a-unified-school-district-or-your-employer You are not required to do anything. Larry and the advisory committee that I serve need to show the higher ups at LAUSD a list of people who want the 457b Roth. Please, PLEASE send a message to Larry. If you have questions, just ask either Larry or me.

B. All Available 403(b) and 457(b) Options to LAUSD employees: https://old.latebloomerwealth.com/lausdretirementinvestmentadvisorycommitteemeeting

C. Web­sites: Financial Literacy For Teachers

1. Next Gen Personal Finance: WOW! All the resources and free training in your neighborhood. All you need to teach your students the newest social justice movement, financial literacy! Click here for the website.

2. National Endow­ment for Finan­cial Edu­ca­tion (NEFE) • 1331 17th Street, Suite 1200 • Den­ver, CO 80202 • 303–741-6333. NEFE High School Finan­cial Plan­ning Pro­gram — http://www.hsfpp.org — LOGIN FOR TEACHER OR STUDENT MATERIALS.
3. FINANCIAL LITERACY SCHOLARSHIP (HIGH SCHOOL SENIORS) –
Cal­i­for­nia Con­tact — http://www.hsfpp.org/state-programs.aspx
4. Uni­ver­sity of Cal­i­for­nia Coop­er­a­tive Extension–Riverside
Con­nie Costello:  connie.costello@ucr.edu   (951) 827‑5241

D. Here are Materials for Teaching Personal Finance to your students for all grade levels. Inspired by LAUSD award-winning teacher Rafe Esquith and developed by Vanguard. All grade levels. Check it out: https://about.vanguard.com/community-involvement/promoting-financial-literacy/