Tutoring educators on financial matters

As an educator, you are in a unique situation when it comes to retirement planning. You may be eligible for a pension plan – and how much that pension will be worth may be determined by your years of service, ending salary, and a percentage established by your employer.

Depending on whether you teach for a public school or nonprofit private school, you’ll also typically have a defined contribution plan like a 403(b) or 457(b) plan. In addition, some teachers may be eligible for Social Security benefits when they retire, while others won’t be. Due to these variables, each teacher’s situation is different, but here are some general strategies teachers should consider when planning for retirement.

Our team has a long history of working with educators who are saving and preparing for retirement and understands the challenges they face. We can provide guidance for all aspects of your financial life, such as reviewing your income needs, providing protection from the unexpected, planning your estate and mitigating taxes.

A case study

An educator who had qualified and unqualified assets aspired to invest in real estate to generate an additional income stream for retirement. He wanted guidance on how to do this without spending all of his hard-earned savings. We introduced him to leveraging and pledging strategies that may help him secure properties.

This is for illustrative purposes only. Individual cases will vary. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Prior to making any investment decision, you should consult with your financial advisor about your individual situation. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.