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Lexey, age 28

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Lexey works in Belleville, IL where she is the main speech therapist for pre-K/early childhood students. She loves interacting with, and teaching students who are just beginning their educational journey. Her biggest challenge is getting support and follow through from families of the students.

We asked Lexey some questions about what he knows or wants to know about the 403(b) and saving for retirement, and this is what he said.

On a scale of 1 to 10, with 10 being total understanding, how well do you understand saving for retirement? Why did you pick this number?

I picked 4 because I have been doing research and feel like I have some understanding but not nearly enough.

What is your biggest money worry?

How to invest my money for the best return. I'm concerned that my 403(b) isn’t the best option for investing.

Do you have a 403(b)? If yes, are you satisfied with your investment? If you do not have a 403(b), why not?

I have a 403(b) with American Fidelity. I’m unsure if it needs changing. I don’t know how to determine what changes may need to be made. On a scale of 1 to 10, my satisfaction with my 403(b) plan is 4.

Did you ever hear about the 403(b) in your teacher preparation program?

No.

Do you know what a fiduciary financial advisor is? If yes, how would you describe a fiduciary to a colleague?

Yes. A financial advisor who is obligated to give objective financial advice that is in the best interest of their client.

If you could ask a financial advisor one question what would it be?

Should I invest into my 403(b) or invest in a 457(b)?

Anything else you would like to share with us?

I feel like school districts do a poor job of informing their staff of their retirement options and how the state retirement system works.

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