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Dan's Blog

403bwise Teacher Lounge Makeover 👨‍🎨

September 14, 2021

Last week I wrote about how a Florida school district let high-cost 403(b) vendors AXA/Equitable and Horace Mann renovate Teachers' Lounges. It got us to thinking: What would a wise Teachers' Lounge look like? Immediately, my podcast partner — and struggling graphic artist — Scott Dauenhauer CFP® came up with the following...

Scott is very good with money. We'll just leave it at that. I think what Scot was saying is that he wants teachers to have access to a variety of financial education tools. We think the following should be in every Teachers' Lounge...

Books

  • The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle (and Uncle Sam above)
  • The Psychology of Money by Morgan Housel
  • It's a tad self serving but I do think my book Teach and Retire Rich can help a lot of teachers

Posters

Local 403(b)/457(b) Advocate

We are building a network of 403bwise Advocates. While not possible to have one in every district, we would love if every school in every school district had at least one knowledgeable colleague who could share best practices for saving for retirement. If you are interested in being a 403bwise advocate, email Jessica(at)403bwise.org 

Food

  • Daily, fresh healthy food provided, not by financial companies, but by schools or parents or some organization not selling financial products
  • Coffee machine that works
  • Fresh drinking water
  • Refrigerator free of month-old lunches 

 

I'm all for great furniture, lamps and plants, but we would rather Teachers' Lounges be places that offer real value to teachers.  

Stay wise and well (and staff your lounge with items that can help your colleagues secure a sound financial future).