Pushy 403(b)/TSA Salespeople: A True Story

Does this story sound familiar to any of you teachers out there?

Here is an excerpt from an email I recently received from one of my clients who teaches in Tustin USD.

Two guys stopped by my classroom yesterday [after-school, uninvited/unannounced] and tried to talk to me about investing… I told them I had it covered. They asked who helped me, and I told them your name and that you were a friend from college. They asked how loyal I was… I told them to get lost. 🙂

Awe… pushy 403(b) salespeople! 

I remember them all to well when I was teaching.  They treat teachers as “prospects” and the 403(b) as a used-car.

Unfortunately, from my experience teaching, and from what I’ve heard from many other teachers, this story is not an isolated one.

What most 403(b) salespeople fail to realize is that the 403(b) is an investment that teachers are going to rely on when they retire.  The 403(b) isn’t some kind of “product” that can just be sold and forgotten about.

We’re talking about people’s retirement here!

Here’s the problem with most 403(b) salespeople:

• They’re salespeople!  They work for a specific company, they’re told what “products” to push this month/quarter, and then they are told to sign up as many teachers as possible.
• They don’t stay in contact with their clients. The only time most teachers ever hear back from their 403(b) salesperson (if ever) is when there is a new product for them to push.
• Most 403(b) salespeople aren’t financial advisors.  Most 403(b) salespeople can only advise people on their 403(b).  They don’t know the first thing about taxes, about life insurance, budgeting, home-ownership, and having a family.  The fact of the matter is that all these factors work together – for better, or worse.  You need to understand how all these factors play a role in someone’s finances/retirement.  Assisting in one area can kill you in another area if you don’t know what you’re doing.

Can you relate to the above story?

Would you like to learn more about your 403(b) and all the options available to you?

If so, please feel free to share your story below, or contact me anytime.  We can look over your particular situation and see what option is best for you.