LEAWOOD, Kan., Sept. 1, 2021 /PRNewswire-PRWeb/ -- Last year was difficult for many Americans, but especially teachers. From working through safety protocols to navigating virtual classrooms, teachers had more than enough to keep them occupied in and out of the classroom. Which is why as the fall semester begins in 2021, blooom wants to make finance and retirement one less item on their to-do list. Beginning today, blooom will offer a complimentary year of service - at any price level - for teachers across the country.
Public educators have a unique option when it comes to saving for retirement. In addition to pension plans, they may qualify for 403(b) accounts, which share similarities to the better-known 401(k). For 403(b) plans, money goes in pre-tax and is only taxed when it comes out during retirement. High fees and insurance products, like annuities, can unfortunately wipe out potential gains, making 403(b) accounts difficult to manage.
"I've always been frustrated that our teachers — including many of my family members — give so much of their time, talent and treasure to educating the next generation, can be put into a financially difficult situation due to 403(b) accounts," says, Chris Costello, Co-Founder and CEO of blooom. "Many plans are needlessly expensive and complicated, which is why we've decided to take this 'homework' off teachers' plates."
Starting today, all educators will be able to sign up for a complimentary full year of blooom's proprietary financial service at http://www.blooom.com/finance-for-teachers with the code "TEACH". Once a teacher links his/her account to blooom, the technology reviews the existing investments and makes recommendations based on several variables including: age to retirement, risk tolerance and, most importantly, expenses of the available investment options in their plan. By identifying the lowest cost options in line with the client's goals, blooom can possibly save a significant amount in investment fees alone.
"Our goal with this program is to better position participating educators for the retirement they so greatly deserve," comments Costello. "We also hope to drive awareness about the obstacles teachers and others who qualify for 403(b) plans face when it comes to navigating retirement investments."
To learn more or sign up for the program visit http://www.blooom.com/finance-for-teachers.
The information is provided for discussion purposes only and should not be considered as advice for your
investments. Blooom does not provide tax advice. Consult a tax expert for tax-specific questions.
The TEACH promotion is valid for new clients and the discount is on the recipient's first year of blooom's service only. The code must be used by 1/1/2022. This promotional offer cannot be combined with any other offer. Our General Promotion Guidelines apply.
Blooom is a digital financial management service working to bring affordable retirement advice to the masses. The retirement analysis is complimentary. Connect your IRA, 401k, 403b, 401a, 457 or TSP today for a free check-up of your investments.
About Chris Costello
Chris Costello is the CEO and Co-Founder of blooom - one of the nation's fastest growing robo-advisors aimed at helping millions of underserved retirement savers. Chris has earned the prestigious CERTIFIED FINANCIAL PLANNERTM designation and has been working with individual clients and building portfolio allocations for over two decades. Chris has personally coached people through the ups and downs of the market including the dot.com crash and financial crisis.
Prior to blooom he co-founded another investment advisory firm that grew to manage over $500 million for clients. At blooom, Chris leads the company in building innovative financial services to reach all under-served Americans. Blooom has been named one of the world's most innovative companies by Fast Company, and Chris was selected as one of the "Ten to Watch in 2016" by WealthManagement.
Elliott Scott, Will Gregory Public Relations, +1 4178381650, [email protected]