How much should California teachers be putting into a 403b/Ira, since we also get a pension? I’m looking for a percent (not including the 10.25% we our required to contribute to a pension)
If you don’t get a match for your 403b then I can tell you exactly how much you should put in. You should put in zero. $0.00. Instead you should fully fund your Roth IRA at one of Clark’s favorite brokerage companies, also your spouse should do it.
403bs are generally laid in with high fees and poor investment choices. Clark talks about this at length
Both of you together can put in $12,000 for 2022 and I think $13,000 for 2023 there you go that’s a lot of money. Save until it hurts.
If one of you stops working and the other one continues working, the one who isn’t working can continue to make spousal Roth IRA contributions with no problem
I’ve never heard of a match on a 403b plan. I maxed out my Roth, had a Vanguard account and also dollar cost averaged into a 403 b, as it didn’t change my take home pay. Some districts have a few good choices. Mine had a few Vanguard funds. It does cost me $5/ month in addition to Vanguard’s expense ratio but my only alternative is to roll it into an account that is not protected, according to Vanguard. A retirement vehicle is superior to a taxable fund because it is sheltered from attack in the event you are sued, etc. You can check if most districts have a decent plan at 403b Compare. Some districts haven’t been included yet, though.