Why Teachers Are Leaving the Profession

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!

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• Teacher Money Show: If you’re an educator, look for the Teacher Money Show wherever you listen to podcasts.
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