welcome to the organic green doctor blog

i am a family physician who was diagnosed with
early mild cognitive impairment(mci) amnestic type on december 21, 2010
this is a precursor to alzheimers disease
because of this diagnosis i have opted to stop practicing medicine
this blog will be about my journey with this disease
please feel free to follow me along this path
i will continue blogging on organic gardening, green living,
solar power, rainwater collection, and healthy living
i will blog on these plus other things noted to be interesting

Monday, September 25, 2023

how a teacher becomes a millionaire


millionaire teacher
now i havent read this book above or read or heard any interviews by the author. i dont know if i agree with what he says but i intend to read his book to find out what he says

here is what i know
i know more than one millionaire teacher actually i know several

if a 25 year old teacher just out of school and who has a 30 year teaching career were to invest about $850 a month in their 403 b plan and invested it at a 7% return for 30 years
they will be a millionaire at retirement

a 403b is what a teachers 401k is called

first the student should consider going to a community college for two yeas then transfer to a public university to get their degree thus lowering their cost of college
the goal is little college debt at graduation

remember what do you call someone who graduates from a public university and someone who graduates from an expensive university like say harvard
your kids call them both teachers

so they enter their career with little or no debt

then when they start teaching they start putting back $850 a month into their 403b investing it based on their age 
dont buy a new car buy an old one
remember the purpose of a car is to get you from point a to point b

make sure they teach at a school that pays into social security 
failing to do so can cost you around $1800+- a month in lost social security later in life
the government offsets your retirement from any social security leaving most teachers with zero social security 
eg my wife she gets $500 a month instead of about $1800 she would get if she wasnt a teacher
when i die she will get around $1000 a month

dont ever tap into your teacher retirement 
never ever

live within your means
dont get into credit card debt or other debt except maybe a home mortgage
dont overbuy on your home

doing this above will leave you a millionaire + when you retire

a $20,000 a year social security check is like having $500,000 in your 403b
a $30,000 a year teacher retirement is like having $750,000 in your 403b

thats like having a million in the bank
add that extra million they accumulate in their 403b over their teaching career
thats how a teacher becomes a millionaire

the organicgreen doctor

No comments:

Post a Comment