The Clark Howard Podcast 08.11.25 Get Wise To Your Retirement Plan / Getting More For Your Money
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Aug 11, 2025 Dive into the confusing world of retirement plans, especially for teachers grappling with costly 403(b) options. Discover why individual Roth IRAs could be a better choice. Shift gears to quirky coffee trends, as some shops offer gigantic drinks contrary to the shrinkflation buzz. Gain insights on managing small business finances and the importance of tailored tax strategies. Plus, practical car-buying tips for students and a light-hearted take on the often-overlooked importance of travel insurance.
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Do Your Own Roth IRA
- Do your own Roth IRA rather than enrolling in high-fee 403(b) plans offered to many teachers.
- Clark Howard recommends checking 403bwise.org if your district does not offer good plans.
Teacher vs. Private Worker Example
- Barron's example shows a teacher contributing $250/month ends with $185,000 and a private worker with about $350,000.
- Clark Howard uses this to illustrate how fees devastate teacher retirement balances.
How Fees Devastate Teacher Retirement
- Teachers' 403(b) plans often charge huge commissions, ongoing fees, and surrender charges that lock you in.
- Clark Howard warns these fees can leave teachers with roughly half the retirement of private 401(k) savers.