Are you a teacher, non-profit worker, or government employee? You may have access to powerful retirement tools that operate differently than the corporate world's standard 401(k). In this episode, we break down the nuances of 403(b) and 457 plans to help you maximize your financial future.

First, we explore the 403(b), a tax-advantaged plan available to public education employees, 501(c)(3) non-profits, and ministers. We discuss its history as a "tax-sheltered annuity" (TSA) and how modern regulations now allow for investment in mutual funds. We also cover how bankruptcy protections have evolved for these accounts, and the addition of Roth (after-tax) options for tax-free withdrawals in retirement.

Next, we dive into the 457 plan, a non-qualified deferred-compensation ...