Late Bloomer Wealth

Late Bloomer Wealth

Dedicated to Helping K12 Teachers with their 403(b) & 457(b) plans.

Steve Schullo, PhD

“Genuine Financial Transparency Demonstrated” Part 1

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Part 1 (of 10) Genuine Financial Transparency Demonstrated 2006-2011 Alexander the Great untied the Gordian Knot with his sword. Previous attempts to solve the impossible entanglement were unsuccessful by conventional thinking. Whoever unraveled the maze would become King of ancient Phrygia. Zeus was so pleased with Alexander’s shrewdness he granted royal status and a lifetime of …

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Late Starters? Don’t Worry, get started now

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“ETF Funds For Late Starters” Excerpts: “One of the more unnerving facts about retirement investing is the illusion of knowledge. As we get older and more wise to the world, the tendency is to believe that we understand how things work.”  I agree! Excerpt: “Late starters to investing can avoid this trap by using index …

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Member of LAUSD 403b/457b Oversight Advisory Committee Died Suddenly

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All of us on the 457b/403b oversight advisory committee are shocked and saddened by Jack Moscowitz’s sudden death. The retired principal of some of the biggest high schools in our district, Los Angeles Unified School District, Jack was a natural leader and our committee’s alternate Chair. He represented the administrators’ union from the onset of our …

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Chapter 8–IRS’ Problem with 403b

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Chapter 8 IRS’s Problem with the 403b 2004-2010 The print media, American Federation of Teachers’s AFT_Special_Report Shark ATTACK and our legislative effort highlighted 403b troubles across America. In 2004 the Internal Revenue Service (IRS) entered the fray by proposing new 403b regulations! Why? Was their update going to fix the 403b as the 2001 Economic Growth …

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Veteran’s Day Deals: Max Social Security, Free Financial Plan and others

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To all follow Veterans let’s enjoy our day with a complimentary lunch, discounts at many retail stores and free financial information from Money Navigator to any Veteran and their spouse. Dan and I will be dining at the Olive Garden! I will be ordering the free financial plan. See below. Olive Garden Menu A Veterans Day deal …

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Chapter 7: California Assembly Bill 2506

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NOTICE TO READERS! This chapter 7 is an early version of my book, “Fighting Powerful Interests.” For the finished and completed published book, go to the home page and obtain the free pdf. (Click here and scroll down. Subscribe to our blog and download the book!). For­ward 2002. In this chapter we head for Sacramento …

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Chapter 5: American Federation of Teachers (AFT) seeks a National 403b Vendor

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NOTICE TO READERS! This chapter 5 is an early version of my book, “Fighting Powerful Interests.” For the finished and completed published book, go to the home page and obtain the free pdf. (Click here and scroll down. Subscribe to our blog and download the book!). Foreword to Chapter 5: Read what the American Federation …

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Some of our Favorite Financial Authors. Need Financial Advice?

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From Mr. Bogle to Mr. Roth. These gentlemen have the investing philosophy that Dan and I follow–indexing with low cost funds, diversification with a healthy allocation of bonds and rebalance as needed. Jack Bogle: Dan and I will be attending the Bogleheads conference in Philedelphia next week and hope to meet Mr. B. Here is an article …

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Chapter 6: TIAA CREF Effort to Get “Union Approved”

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The great TIAA CREF low cost 403b signed on to LAUSD’s 403b list in 2001. Then they tried unsuccessfully to get the United Teachers Los Angeles (UTLA) “Union Approved” stamp.   My decade-old story is timely today. The resistance to TIAA CREF entering the PreK-12 educational profession remains strong. Teachers seldom have low cost 403b plans. My story provides clues as to the reasons why the resistance to low cost 403b companies …

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