Why Teachers Consistently Become Millionaires

Amazing. “ITS TIME TO BE RICH, DO THIS”

As an accountant, I agree. Professions like accountancy and teaching and engineering don’t attract people who want excitement or a flashy lifestyle. We’re not impulsive. We value stability. We don’t feel the need to impress others. We’re a little boring and that’s ok. Like the turtle who beats the rabbit in a race, we make slow, steady progress toward our goals.

I’m an accountant married to an engineer. We’re logical and methodical and follow rules easily. I was completely on track to be a millionaire when I was single. Once we got married, the size of our shovel is unbelievable because we still have the same mindset of when we were each doing this on one income. Looking forward to paying off the mortgage before the end of this year.

As a teacher who is in that group, it's the realization that my income was not going to get me there. So, I needed to learn how to save and invest wisely which could get me there.

It's not about how much money you make, it's about where the money goes

I worked for a large package delivery company and my husband was a teacher, he is retired for many years. We never made over $80,000 per year. We helped pay for our kids college degrees, helped them out with down payments for their houses, kids had no college debt and kids have no debt other than their house payments. We were very frugal in our marriage and now we are everyday millionaires, totally debt free for 15 years now. I have been retired for 12 years. Live below your means.....

Because teaching at its core is about planning and self-control. You need to have strong skills in both to succeed in the field.

"You can't earn your way out of stupidity" is probably the best thing I have ever heard about building wealth. It is just so matter of fact.

I am going into my first year of teaching. And in the midst of all the fear and chaos, I plan on being a darn good one. This is encouraging.

I think a big part of teachers' success as a group is that they don't get the pressures to spend beyond their means. No having to impress the co-workers or neighbors.

I’m 35 y.o. and a music teacher at a private Christian school. I started investing at 27 the very second I finished paying off my loans and car. Through max contributions for my Roth IRA and 403b for these past 7 years, the compounding interest will have me well over 1.2 million by age 60. Live below your means, pay off debts and wait until you are married to have children. Those three things will have you living comfortably on a modest salary. I’ve no desire for extravagance.

A MAJOR factor is that there are a lot more teachers than say lawyers, doctors, high level execs, etc. They looked at percentage of millionaires that are teachers, not what percent of teachers become millionaires. Additionally, teaching salaries/benefits have lagged the greater professional market…boomer and genx teachers had much better compensation than someone getting into the field today should expect.

This is soooo true! I became a service advisor in my mid 20’s when I was hired as a service receptionist in a car dealership. I absolutely loved it. Because I loved it and started therapy at the same time due to childhood trauma, I started saving and investing for the first time in my life. My whole world turned upside down, in a good way. My therapist would occasionally reminded me to protect myself financially, which I did. 27 years later I had to retire at the age of 51 due to an illness. I was only able to do this because of what I did in my 20’s, 30’s and 40’s. I now only have to worry about my health, not my finances.

As a teacher (and single Mom of two kids for 11 years) I can relate to this. Live well below your income, save aggressively, work a second job when you can, do not fall into the trap of dressing to impress, buy reliable used cars, etc. Plan for the long term future and watch it grow.

My mom retired as a teacher and is doing very well. Her and my step dad travel all over the place now

I’m a financial advisor and one big thing is that teachers all have a pension and they both simultaneously aren’t sure it will be enough to take care of them so they save well and then when the pension IS enough, they don’t spend any of their investments and they have large nest eggs that just keep growing

My dad retired as a diesel mechanic in 2020. And he's currently living off the interest in his investments. He always told me, it's not how much you make it's how much you spend.

Finance and Business books have been so helpful. I’m 55 and my wife 50 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early, even till now we earn weekly

Best thing about COVID for me was forced me to think about how I was wasting money on all kinds of lifestyle rubbish choices none of which were necessary. Love living on a restricted budget with discipline.

God Bless teachers!!!! They don't receive half the credit they deserve and I'm so dang proud to be the daughter of a dedicated teacher!