I’m glad I could be some help!

I would try to make a budget possibly using a service like Mint or Rocket Money. Determine where your money goes and cut back on areas where you can spend less. You should treat yourself sometimes but don’t overdue it. Create a balance and you’ll be happy and financially stable.

That’s not a horrible mentality because it’s true but you are here right now and will need money in the future so it’s important to save.

if you’re saving for a house you should research teacher home loan programs in your state. Many states offer those programs to help get teachers homes as teachers pay often leave them left out of getting a decent home. For your home savings goal you should save for that in a HYSA or CD’s.

You should ensure you have an emergency fund in a HYSA account (eg. Sofi, Ally).

If you have any debt like credit cards work on paying those off AFTER building up the emergency fund. If you have student loans as a teacher look into the PSLF program if your loans are federal.

I would also consider checking to see if your employer has matching contributions to a 403(b) or 457(b) plan. I would of course max out the IRA first but if you max it out the next step in saving for your retirement would be contributing to one of those above mentioned plans. Be forewarned though you may or may not know this but 403(b) plans are known to have high fees with products like annuities and managed accounts. You can use a website called 403bwise.org to compare 403(b) providers. If you employer doesn’t offer a good 403(b) plan check out the 457(b) or push HR at your school to add a better provider you can get fellow teachers to help support you in this effort. You said you are investing on the side which is good however you may consider diverting more income into a tax advantaged plan.

Do you have any other choices or is this your only choice? TransAmerica isn’t horrible but they aren’t amazing they are known to have some high fee products and funds.

Even if you don’t you should still try to raise the contributions on your employer sponsored 403(b) plan. If you have the ability contributing 10-15% towards retirement would be good. If you can’t do that all at once start small an increase as you can.

If you do have other choices for your plan administrator you may consider switching to Aspire Financial Services (non advisor) CalSTRS Pension2 (only in California) Fidelity Investments MissionSquare (formerly ICMA-RC) T. Rowe Price TIAA Vanguard WEA Member Benefits (Wisconsin)

Do you have any other choices or is this your only choice?

May I also ask who is your 403(b) Plan administrated by? Do you have a choice of providers because 403(b) plans are notorious for having high fees with administrators like Life Insurance Companies.

You can add to a traditional or Roth IRA until April 18th of 2023 (tax day)! So you could wait to max out until later into next year but if you do make sure you make the contribution for 2022 and not 2023.

You most likely don’t have time do add to the 403(B) plan for the 2022 year if you do you should add it their first. However if you don’t you should open up a Roth IRA with and big brokerage eg. Fidelity, Vanguard, Schwab, TDAmeritrade you should then max out the contributions. If you are not an experienced investor you can always invest in a target date fund just like your 403(b) plan should be invested in eg with vanguard a Vanguard Target Date 20__ (insert year of retirement)

As the person below me said their is no risk involved. Same FDIC insurance up to $250,000. I will say I don’t personally have SoFi but know others who do and they absolutely love it. You could always give both a try and close the account you don’t like.

Upvote for Ally it’s where I store my emergency fund as well as some savings goal! Of course I keep a little cash with my standard bank savings account at USAA but Ally has been fantastic as a HYSA!