You should know all your tax advantaged options. Here are the 2021 403(b) and 457(b) max contribution limits!
It’s important to acknowledge mistakes as well as wins. We made a huge one by being underinsured.
Educators don’t talk about money, right? Well, these do! Learn about current and former educators writing about personal finance from a variety of perspectives.
We need great teachers in the profession! Most teacher hiring processes still include an interview component. This is your time to impress your future colleagues and supervisors. Yet, interviews can be daunting, and even unfair for some. I’ve provided this list of teacher interview questions to help you prepare in advance and represent yourself well.…
This may be the most subdued declaration of financial independence ever, but it’s launching us into a new phase of the journey.
Moments. We all have memorable ones, both good and bad. We instinctively recognize that these things define us. Hitting rock bottom. Achieving a pinnacle. That time our parents said something that always stuck with us. Moments impact us…
You’ve been asked to write another letter of recommendation for a teacher colleague. You want to be supportive but are already behind on so many other things. Fortunately, you can write a great letter of recommendation for a teacher (or other educator) quickly. Let me show you how. It’s no exaggeration to say that I’ve…
Over 18 months we made a series of choices to reduce our monthly housing expenses. Here’s the results. Spoiler – 80% reduction!
Fear has had a dramatic impact on my life. It can be crushing and hold you back, but it can also be used productively. . .
In many cities, teachers are being priced out of the housing market. This is horrible for the profession, and for schools. Our schools benefit when teachers live in the community and are connected with the families they serve. Unfortunately, housing costs make owning impossible for too many teachers. Ever-increasing rents drive living expenses higher and…
I’ve made mistakes. Picked the wrong option, turned down the wrong path, lost money in investments. You will, too. It is impossible to get everything right. The thing is – you don’t need to be perfect to make progress.
The new year school year is approaching fast and you don’t have a teaching job yet. You’re starting to get nervous. You really want a stable long-term position, but it may not be in the cards this year. You’re asking, “should I take a temporary teaching job?”
The best spies don’t look like spies. Similarly, you don’t need to look rich to build wealth. Practice stealth wealth to secure your financial future.
An international primary school teacher shares her passion and path for financial independence! Read Money Savvy Teacher’s story today.
Tax sheltered annuity is an inaccurate and misleading term. We should stop using it immediately.
Paraeducators are incredibly valuable to our schools. Unfortunately, the wages often aren’t adequate. Sometimes, the benefits are significant.
Paraeducators have had a dramatic impact on my time in education. They’re some of the most skilled and dedicated people, and have strong connections to the community. Yet, too few recognize their importance.
Being the principal of a school is like no other job I’ve ever had – and I’ve had some strange ones. It’s a balance of rewarding, frustrating, isolating, and sometimes outright overwhelming. I came to realize that everyone I interacted with had very different perceptions, misunderstandings, and expectations about the school principal.
Educator FI launched in July 2019. It’s been a year of learning, growth, and connection. Thanks to everyone. What comes next?
There are FAR more important things going on in the world! Yet, progress comes with consistency. So, we took a few minutes to review our financial goals at the end of Quarter 2.
We’ve never been great at budgeting. But using the anti-budget and automatic works well for us. This makes sinking funds a critical tool in our personal finance arsenal.
The long summer paycheck gap is a challenge for new teachers trying to make financial progress. Here’s how we learned to manage it.
A program that creates ties between community and schools, supports candidates with incredible potential, and meets workforce needs? Grow your own programs can be powerful levers for positive change.
You want to make more money, but prefer to focus on your career instead of side hustling. The good news is teachers have ways to increase their salary.
Education budget cuts are coming. How they’re implemented at the local level can reinforce the wealth gap. Here’s how.
A pause in posts today, to share a few of my core beliefs.
I changed assignments 8 times in my first ten years of teaching. Teacher moves can cause chaos and uncertainty. So, why do principals do it?
Financial independence isn’t about a life free from challenge. Instead, it’s about choosing those that are most fulfilling.
Being goal-oriented is a positive trait. Yet, the downsides can steal the joy from your life. You don’t need to be miserable in the pursuit of ever greater achievements. Instead…
When the economy turns down and state budgets start shrinking, school districts begin looking at furlough days for teachers and other educators.
RIF (Reduction in Force) is a painful and frustrating thing to go through. It’s not personal, many of us have experienced it. Learn what you need to know and how to get through it. You’ll be back to work in no time!
Recognizing both the power and danger of natural consequences, we should approach financial outcomes more like physically dangerous ones.
Teachers know firsthand the importance of good principals. Many wonder though: Is it worth going from teacher to administrator? Maybe.
Education is a great career option for pursuing financial independence. (That’s the whole point of this site – ha!) Both teaching or administration will get you there – just in very different ways and at different speeds.
Gerald has had big life changes. Now, he’s starting from scratch at 34 with a. new job. Read about his experience and plan.
We lost badly to lifestyle inflation. Then we woke up, fought back, and rolled our spending back almost 20 years. You can too.
This is one of the most frequent questions I’m asked about working in education. While simple to answer, it encapsulates some of the intricacy of personal finance as an educator. Sometimes the question is also a way of trying to make a point about teacher pay.
A pursuit of excellence will serve you well, but it’s not without a cost. Can you be more successful and happier by overcoming perfectionism?
I’ve reviewed hundreds of principal candidate resumes. I’ve submitted many of my own – with a 90% success rate. Here’s what I’ve learned about what will get your resume noticed.
I was a new teacher in 2001 and a new principal in 2009. These are the things I wish I’d known to prepare myself, and others, for a recession.
It’s a strange time to be doing a financial review. Yet, much of my progress in life is the result of continually moving forward even in the face of challenge. So, we gritted our teeth and did our quarterly review…
We’ve got some great investing options, but the variety can be confusing. Learn the order I use when choosing where to invest my money.
We are in the midst of the Covid-19 pandemic. The world has changed very quickly. Normally, I stick purely to financial topics. I hope you’ll forgive me a short pause while I, and we all, wrestle with our current situation.
The comedian Lewis Black claims aneurysms are caused by hearing something really stupid that gets stuck in your head. Recently, I think I read my future aneurysm…
It may be mathematically optimal to invest, but there are good reasons to pay off your mortgage. Here’s why we chose mortgage freedom.
Change can be hard. Teachers often stay in one school and miss out on financial and professional opportunities. Don’t be afraid of switching school districts!
The assistant principalship is a great entry into school administration. It provides a good balance of leadership while staying connected with students. The job market is competitive. This post will help you get hired.
Location matters in the pursuit of financial independence. Which state is best for teachers?
A special education teacher and her partner build a plan for financial independence and family. A net worth of $200,000 and 50% savings rate!
How much does a teacher need to retire? Understand the factors and learn the answer to this important question.
One year after selling our large beautiful home, we’re moving back in our original starter home. Here’s why we’ve decided to move back into our rental property.
Have you ever mapped how your money flows? Exploring our financial phases by money map highlighted our progress. Learn how!
Things are going well. Actually, they’re going GREAT. But….couldn’t they be going even better? You start looking around frantically for any opportunity you’re missing. There has to be something to improve! It’s the optimization twitch. I’ve got it bad. And it’s becoming a problem.
Two Texas teachers retired early to a house on the lake! Read their story here.
We didn’t choose this career for the money, right? Still – it’s important that we start talking about money. Here’s why…
It’s that time of year! Districts around the country are looking for good school principals. (Hint: it’s always that time of year.) You’re ready to be one. What does a school principal hiring process look like and how can you prepare?
Experiencing deep financial insecurity has a permanent impact on your money mindset. You can overcome those challenges! Here is how I’m working on mine.
Learn more about Kate -she’s a teacher, mom to four, and runs two blogs! She’s got a seven figure net worth and a great approach to balancing her pursuit of financial independence.
Confused by your teacher pension? Learn to understand the critical variables and estimate your potential benefit. Includes real examples!
To seek better life balance and achieve some goals for 2020, I’m shifting my posting schedule.
Teacher advantages for financial independence? Really? In spite of relatively low income, there are several things about our profession that are helpful for financial independence.
We conduct our annual financial review for 2019. It was a year of milestones and amazing progress!
It’s easy to become a cynic, and hard to stop. Read why I’m embracing optimism in the coming year.
Prepare for an effective interview by anticipating questions and practicing answers. Over 200 real principal interview questions to help you prepare to crush that interview!
We’ve got a target FI date! See how we plan to get there with our 2020 goals.
For the first time in a year, I’m not running an Educator on FIOR Interview. I’d love to feature more stories of educators taking charge of their money. Share YOUR story!
We’ve built an approach to setting financial goals that helped us transform our finances. I share how we effectively set financial goals, and even include a financial goal setting worksheet.
Interested in teaching abroad? Learn how to land an international teaching job – from an actual international teacher.
Tired of being broke? Ready to build a financial independence plan? Get the free ebook – An Educator’s Quick Guide to Financial Independence. Get started now.
Steven and Lauren from Trip of a Lifestyle share how they used education to build a strong foundation. Now they’re living an intentional life on the way to financial freedom.
All things in balance. I’ve always appreciated, and rarely embodied, this phrase. I’ve certainly failed consistently throughout my financial journey. Now, after a period of frenzied change, I’m trying to be intentional not obsessive with my finances. You should too.
Job Spotter is an easy to use app. I’ve found it to be a great way to make a little extra money integrated with my exercise. Here’s how.
Considering this challening, rewarding, and important job? Here’s exactly how to become a school principal.
Learn how a teacher built a path to financial independence through international teaching. JJ shares his experience from Tokyo, Japan!
Our income may not be the greatest, but we do have some great options for dealing with student loan debt. Learn how you can get up to 100% of your student loans forgiven!
Happy Veterans Day! Today, I’m thrilled to share a program that supports those who have served in the military to become educators. Learn more…
Christy of Financially Fit Teacher stops by to share her story of building financial independence as an elementary teacher. Check it out!
Have you heard someone excitedly talk about index funds, but didn’t want to admit your ignorance? Today’s post is for you! Read for a quick overview.
You can do the work you love while still building wealth! Today, we look at a viable teacher path to FIRE.
Effectively assess your financial progress by implementing a balanced assessement system. Learn how to use three tiers of effective assessment to improve your path to FI.
Can you build wealth while working as a public educator? Absolutely! Follow Kim as she pursues an administrative path to high net worth.
Rob is a high school teacher, new father, and published author. He’s building an incredible path to financial independence while working as an educator.
Educators can do the work we love and build financial security! An exploration of a two teacher household’s path to wealth.
Setting and tracking financial goals is important for long term progress. We review our annual goals and publish updates every quarter. Quarter 3 was great!
I’m on a solid financial track at 45. Yet, I made so many mistakes along the way! These are the big things I wish I’d done differently.
“1PF” shares the perspective of an independent school educator building a secure financial future.
You work hard. You balance that out by playing harder. Don’t fall into this lifestyle inflation trap!
When aggressively pursuing goals, it’s easy to get focused and miss things. Take a minute to look around, you might be surprised!
Do you have access to both a 403(b) and 457(b)? Learn about the differences and how to decide which to choose!
A first-year teacher starts on the path to financial independence. She has a goal to be a millionaire by 35!
Are you trying to educate people about personal finance? Every community has its own insider language. Be aware of how you use jargon to invite or exclude.
Do you have trouble focusing? In school, were you admonished to “sit still” or “pay attention!” Do you lose focus and change obsessions frequently or are you often tempted to tinker with your investments? Fidget toys may be the solution you need!
Explore the levers that allow any educator to make more money. Real examples of how you can earn 6-figures while doing the job you love!
Aaron spent his entire career in one school! Now, he’s retiring early with significant wealth. Read his unusual story.
Let me be clear from the start – I’m not advocating buying a vacation home. A vacation home purchase was our last glorious act of lifestyle inflation. Perhaps you’ve made a similar mistake or maybe you just really want your own vacation place. I’ll share how we own a vacation home without spending a fortune.…
I worked hard and got what I’d dreamed of. Then I realized I was creating a trap. How that moment woke me up and changed life for the better.
Have you ever been so upset, angry, or scared that you’ve done something totally out of character? Maybe you bought someting really expensive, were a jerk to your boss or an investor, or were reckless in a totally personal way. Afterward, you might not even remember doing it! You aren’t going crazy – the escalation…
Tawnya from Money Saved is Money Earned stops by to share her inspiring story of a single teacher well on her way to financial independence!
You may have heard the term 403b briefly in HR orientation. Or, perhaps when a salesman threw a pitch at you in the lunchroom (ugh…so annoying!) You probably ignored it or wrote it off as too confusing. Now, you’re interested in investing for retirement and want to actually understand the 403 b. I’m here! As…
A simple 4 step process that will set you up for a financially successful year!
- Education Theory
- Educator Income
- Educators on FIOR
- FI Basics
- Financial Independence
- Goal Tracking
- Make Solid Decisions
- Our FI Journey
- Understand Your Money