What are people's thoughts on additional retirement accounts besides just TRS? A financial guy visited my sister's school and all he mentioned to them were annuities. She later contacted him and said she wasn't sure about annuities and he then told her he had other options available.

Just looking to see what the consensus is on pros/cons for annuities, 403b, Roth IRA and any other option that may be available for teachers.

I'm a teacher and I think teachers should have a 403(b), Roth IRA, or other vehicle (i.e. rent houses) to retire comfortably. I personally stay away from annuities because I bet the broad market will beat them over a long period of time, and I don't plan on dying early.

TRS is a great retirement system, but I'm betting it will not fully cover my desired retirement nor my coworkers' desired retirement. And who knows what it will look like in 30 or 40 years...

gvine07 said:

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And who knows what it will look like in 30 or 40 years...

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Hopefully a lot like a 401K

She should have access to the texasaver program. Some great funds in there at institutional share expense ratios.

https://texasaver.gwrs.com/login.do

My wife contributes to a 403b, Roth and Sep for her contract work.
I have faith in trs, but why not have more.

Edit: nevermind

This answer really depends on the spouse.. Do they have a pension also? just 401(k)? Nothing?

My wife did TRS for 5 years. Now she's in another state's pension, but we are in process of rolling over that trs into her ira (or possibly buy a few years in the state pension). Once kids are out of daycare, we will both be maxing out IRAs. She also contributed to a 403(b) while she was in TRS.

She plans to retire at 57ish, and I anticipate her paycheck to cover all of our basic living expenses, while my retirement savings will be for travel/fun.

gvine07 said:

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CS78 said:

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She should have access to the texasaver program. Some great funds in there at institutional share expense ratios.

https://texasaver.gwrs.com/login.do

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I may be wrong, but I think that's only available to ERS members. There are similar options for TRS though

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I'm on TRS with A&M and I make use of the Texasaver. Highly recommended for anyone that can get it.

Does Texasaver work for MD Anderson employees?

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A financial guy visited my sister's school and all he mentioned to them were annuities...

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not suprising

im not a teacher, but given the income, i think they should max match for 403b, then max ROTH, then max 403b, then if they want more move to taxable vs real estate

I readily admit my ignorance here, but why the Texa$aver in particular, and which one of their options? I'm also a teacher, but don't know much about this world at all. We've been working with a guy from NW Mutual, but so far have only done basic life insurance and short term disability.

I have some 401k to roll over somewhere from a previous job also, nothing major, but something. The guy I've worked with has his biases, and I'm too ignorant to this world to really make educated decisions.