Educators are getting taken advantage of. They have amazing benefits, like summers off and pensions. But their investing world is the opposite of amazing. It’s infamously predatory. Their 403b programs introduce them to suboptimal advisors who too often guide teachers into poor investments.
These astrologers are the boys who cried wolf. And we’re correct to not believe them, even when they happen to get one right. They’ve foisted it upon themselves.
“Jesse – I don’t understand why you hold bonds. I don’t know why anyone holds bonds. Can you explain the “problem” with a 100% stock portfolio?”
Common sense is a black hole until it’s been explained to you.
I’ve been playing a little golf in my own life, and I had a small epiphany after my latest adventure chasing balls through the woods: golf and financial literacy are basically the same.
An easy way to level up your finances is to bucket your money. It’s a mental accounting trick that helps both your objective financial plan and your subjective financial mindset.