Increase in 2023 HSA Contribution Limits

The IRS recently announced the contribution limits for HSAs for 2023. So when January 1st rolls around, check the amount you (and possibly your employer) are contributing and make adjustments if necessary. As I've written about before, maxing out your HSA contributions and using it as a stealth retirement account can be a great idea … Continue reading Increase in 2023 HSA Contribution Limits

Why I’m Writing the Personal Financial Literacy for Educators Series of Books

I've mentioned the books I've written (and am continuing to write) a few times on here, but I realized I haven't really shared why I'm writing them or what got me started. I talked about it a little on the Teach and Retire Rich podcast, but I haven't put it all together in one place. … Continue reading Why I’m Writing the Personal Financial Literacy for Educators Series of Books

More on Purchasing Service Credit

I’ve written before about purchasing service credit, but I wanted to dive in a bit more here. Note that the following is specific to Colorado PERA and uses Littleton Public Schools’ 2021-22 salary schedule for reference. Having said that, the same logic will generally apply to almost all pension systems, although the details will be … Continue reading More on Purchasing Service Credit

Do You Feel Lucky?

Whenever the topic of investing comes up with teachers (and other folks, but most of my experience is with teachers), two common obstacles often appear: fear and overconfidence. While these obstacles are on opposite ends of a spectrum they both can be very damaging. Let's take a brief look. Fear Probably the more common of … Continue reading Do You Feel Lucky?

401ks and 403bs and 457bs, Oh My!

The Individual Retirement Account (IRA) is well-named. (Technically, the 'A' actually stands for "arrangement", not account, but everyone just says account.) It describes really well what the account is for (although the details around it can still be confusing), and people quickly grasp the concept. The same can't be said, unfortunately, about employer-sponsored retirement plans. … Continue reading 401ks and 403bs and 457bs, Oh My!