Joel married into a family of teachers. His father-in-law has spent nearly 40 years in the classroom, his mother-in-law has taught for 30, and his brother-in-law is an outstanding Spanish teacher. While it’s clear that every one of them truly loves their work, we also know that passion alone doesn’t pay the bills. Teaching requires some real sacrifice, especially in today’s economy. And while no one enters the profession expecting to get rich, we believe that shouldn't mean teachers are destined for a life of financial stress or a mediocre retirement. In fact, our guest today argues that those assumptions are flat-out wrong. While educators face unique financial hurdles, they also have powerful, underused advantages. When those tools are understood, retiring comfortably isn't just a dream - it’s a reality. Shaun Morgan is a full-time teacher who is just as passionate about teaching personal finance to his fellow educators as he is about his work in the classroom. Some of the topics covered in this episode:
How teachers can achieve financial independence with the right strategies
Public service loan forgiveness is a significant advantage for teachers
Overcoming the “teacher vow of poverty”
Budgeting on teacher pay cycles
Stop spending on classroom supplies
Pensions vs defined contributions plans
Understanding 403b and 457b plans
The role of side hustles
And plenty more!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:
Teacher Money Show: If you’re an educator, look for the Teacher Money Show wherever you listen to podcasts.
Credit card perks: Check out our favorite credit cards that we use to maximize rewards and optimize our spending.
Money Gears: knowing what to do with your money is crucial to your personal finance journey.
Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group!

 

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

 

Best friends out!

Joel married into a family of teachers. His father-in-law has spent nearly 40 years in the classroom, his mother-in-law has taught for 30, and his brother-in-law is an outstanding Spanish teacher. While it&rsquo;s clear that every one of them truly loves their work, we also know that passion alone doesn&rsquo;t pay the bills. Teaching requires some real sacrifice, especially in today&rsquo;s economy. And while no one enters the profession expecting to get rich, we believe that shouldn't mean teachers are destined for a life of financial stress or a mediocre retirement. In fact, our guest today argues that those assumptions are flat-out wrong. While educators face unique financial hurdles, they also have powerful, underused advantages. When those tools are understood, retiring comfortably isn't just a dream - it&rsquo;s a reality. Shaun Morgan is a full-time teacher who is just as passionate about teaching personal finance to his fellow educators as he is about his work in the classroom. Some of the topics covered in this episode:
<ul>
<li aria-level="1">How teachers can achieve financial independence with the right strategies</li>
<li aria-level="1">Public service loan forgiveness is a significant advantage for teachers</li>
<li aria-level="1">Overcoming the &ldquo;teacher vow of poverty&rdquo;</li>
<li aria-level="1">Budgeting on teacher pay cycles</li>
<li aria-level="1">Stop spending on classroom supplies</li>
<li aria-level="1">Pensions vs defined contributions plans</li>
<li aria-level="1">Understanding 403b and 457b plans</li>
<li aria-level="1">The role of side hustles</li>
<li aria-level="1">And plenty more!</li>
</ul>
Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:
<ul>
<li aria-level="1">Teacher Money Show: If you&rsquo;re an educator, look for the <a href="https://teachermoneyshow.com/">Teacher Money Show</a> wherever you listen to podcasts.</li>
<li aria-level="1">Credit card perks: Check out <a href="https://go.nextcard.com/shau19-htmomny">our favorite credit cards</a> that we use to maximize rewards and optimize our spending.</li>
<li aria-level="1">Money Gears: knowing <a href="https://www.howtomoney.com/start-here/">what to do with your money</a> is crucial to your personal finance journey.</li>
<li aria-level="1">Newsletter: Sign up for the weekly <a href="https://www.howtomoney.com/newsletter/">HTM newsletter</a>. It&rsquo;s fun, free, &amp; practical.</li>
<li aria-level="1">Other money nerds: Find a thriving community of fellow money nerds by joining the <a href="https://www.facebook.com/groups/1623670287732189">HTM Facebook group!</a></li>
</ul>
&nbsp;
And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you&rsquo;re not already a regular listener, and <a href="https://podcasts.apple.com/us/podcast/how-to-money/id1337718773?mt=2">give us a quick review in Apple Podcasts</a> or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
&nbsp;
Best friends out!

Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living a rich life.

How to Money

Are Teachers Doomed to a Broke Retirement? w/ Shaun Morgan #1112

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6ce9fdec-b9ad-4fcb-939a-b3d801540b34/transcript