Late Bloomer Wealth

Steve Schullo, PhD

Stopping Financial Conflict of Interests

Stopping a $17 Billion Conflict of Interest A new U.S. Labor Department rule proposes that broker dealers, insurance agents, wealth managers and other financial planners put their clients’ interests ahead of their own. Doing the exact opposite for decades by putting their interests ahead of clients earns Wall Street and Insurance  companies $17 Billion annually. …

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John Bogle says….

John Bogle is in the news and quoted often for a damn good reason. It’s time to find out what the indexing giant has been doing while celebrating his 85th birthday. Below are links to four recents articles about this great man and the company he founded in 1975, Vanguard Group. His story and comments …

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CBS Money Watch’s “Report Card:” Teachers Earn an “A” on Investing!

CBS Money Watch Interviewed Dan and I about investing and teachers. The following articles are not just for teachers, but for ALL investors.  CBS Money Watch financial reporter, Kathy Kristof, published her article here based on data from this website Openfolio. Here is another article, “Why Teachers Make Good Investors,” for more information about teachers and their remarkable investment acumen. But …

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Looking for a GREAT Employer-Sponsored Retirement Plan?

Image courtesy of debspoons at FreeDigitalPhotos.net   The educational leadership is beginning to look out for your best interests. In case you missed it, Click here for my earlier post about the Los Angeles Unified School District’s 457(b), 2nd largest school district receiving a “Plan Design” award. In this blog post, I am thrilled to …

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Rebalancing Our Retirement Portfolio and Our 40-Year Relationship

  From Fighting Over Money Issues: To Working Together: We think we have something valuable to say about couple disagreements as we celebrate our 40th anniversary this year. We believe our experience with financial decisions will encourage and inspire all couples, whether lesbian, gay or straight, to see how we worked together despite some inherent money-related …

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How Does Irony Explain the 403(b)/TSA “Safe” Money “Guarantees”?

Tax-sheltered Annuity’s (TSA) Long, Sordid, and Lucrative Sales History with the Public PreK-12 Educational Culture Since 1961 in California, the Tax-sheltered Annuity (TSA) retirement plan has had runaway sales in the billions of dollars to a very specific clientele: public school PreKindergarten-12th grade educators. Public school employees are familiar with the “TSA” label, which has been …

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Welcome UTLA Members

My name is Steve Schullo, retired LAUSD elementary teacher and former UTLA member. Dan Robertson, also a retired educator, and I created this blog to start a conversation about retirement planning using our district’s volunteer retirement savings plans. This topic is rarely talked about in educational circles. Far too many of our colleagues have no …

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Book Review: Author did the job for her client’s best interests, now is the time us K-12 educators to demand ours!

Section 403(b) Compliance Guide for Public Education Employers by Ellie Lowder Book Review and an Editorial by Steve Schullo As a retired teacher serving on my district’s 403(b)/457(b) Retirement Investment Advisory Committee, I read this book with great interest. While it’s a compliance guide written for district employers and their benefit administrators, every public education …

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What Does the White House, Supreme Court and Los Angeles Unified School District have in Common?

We are Steve Schullo and Dan Robertson, retired teachers who wrote a couple of books about personal finance. Welcome to our blog. Our purpose is to encourage everybody to learn the basics of do-it-yourself retirement planning, at least until many in the financial profession cleans itself up. Looks like they are getting a boot in …

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205 Ways to Find Money to Invest

Dan and I are retired educators who did not earn exorbitant salaries! Yet, we managed to invest in our 403(b) constantly for decades. How?  We discovered how to control three of the most expensive consumer purchases: 1. House. When we bought our first house 35 years ago, we rented out the third bedroom and bath …

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