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

22 snips

Mar 11, 2026

Shaun Morgan, a full-time teacher and creator of the Teacher Money Show who advises educators on retirement and pensions. He discusses teacher pay cycles and budgeting, Public Service Loan Forgiveness and student loan strategies, pensions versus 403(b)/457 plans, stopping out-of-pocket classroom spending, and smart side hustles and career moves to boost retirement prospects.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

INSIGHT

PSLF Can Make Teaching The Better Pay Choice

Public Service Loan Forgiveness (PSLF) often makes teaching financially superior to a higher-paying private job for borrowers.
Shaun explains many teachers' income-driven payments are near zero so 10 years of qualifying service can lead to tax-free forgiveness.

ADVICE

Automate Pay Raise Gains Toward Goals

Do prioritize controlling spend over chasing income hacks since teacher raises are predictable but limited.
Shaun advises funneling a portion of your known annual step raises directly to financial goals each year for compounding impact.

ADVICE

Stop Funding Your Classroom Out Of Pocket

Avoid spending personal money on classroom supplies; ask for existing school funds, department budgets, grants, or PTA support instead.
Shaun never paid for his classroom and used reimbursements, discretionary principal funds, grants, and hand-made alternatives.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

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!

See omnystudio.com/listener for privacy information.