Some believe in generational wealth, while others plan to donate all their money to charity. Some use a financial advisor others scoff at the idea. Some spend big on houses, cars, or a Rolex watch, while others still stop at garage sales on the way home from their kids’ soccer games. Some have a desire to be really rich, even famous, others prefer to live a low-key life and retire early. Some swear on the Vanguard Total Stock Market Index Fund (VTSAX), while others do not understand why they would invest in the stock market – something they cannot control. There are those who invest 100% of their money in small business or inherited their money. Of the 200+ millionaires we have interviewed, some are 100% invested in the stock market while others are 100% invested in real estate (the majority are split between the two buckets). Is it too late for me to start investing? How does compound interest work?ĭoes money bring happiness or fulfillment? What is worth spending more money on? What is not worth the money? How much money do I need to retire? How much money is “enough?” How do I reach financial independence? How do I retire early? What should I do for health insurance upon retirement? How should I think about generational wealth? What should I do with my money? Thanks for reading.How did millionaires get started? How do I become a millionaire? Too often educators give while not taking care of their own financial health. I love education and supporting those who give their lives to help others learn. Now, I combine my two passions of teaching and supporting educators to write about our journey and how educators can defy the myth of the poor teacher to achieve financial independence. We’ve gone from being two broke teachers to reaching FIOR (financial independence optional retirement.) We can now choose to do what we want with our time – I’m walking away from my current role and TFI wants to keep teaching. The years of working hard to improve our income helped us course correct quickly. We created a financial plan and fought back against lifestyle inflation. I started studying personal finance and paying attention to how successful people think about money. Our net worth was $0.Ī dream purchase turned into the nightmare wake up call I needed. Suddenly, we were approaching 40 and had little to show for it and no real plan. Our lifestyle inflated – we spent as much as we earned. Then, we financially wasted most of a decade. We started out together as two broke teachers with a net worth of -$130,000.
I planned to be stupid rich and pursued a career in economics – that I ended up hating.įortunately, I met my amazing wife (TFI) and volunteered in her classroom. My childhood experiences and sense of limits created an early, and unhealthy, obsession with money and constant feelings of financial insecurity. How Did It Happen?įirst and foremost, I’m an educator. That’s the quick version, but keep reading if you want more. We started six-figures in debt and now have a seven-figure net worth and we did it all while working as public educators. Poor kid, to broke adult, to nearly financially independent.
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