It should not be viewed as an investment but it certainly is an asset (as long as you really own it). I've never heard of a caller with that ratio of assets. Yes they are a millionaire but should probably diversify those assets.
When will you be able to retire?
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It should not be viewed as an investment but it certainly is an asset (as long as you really own it). I've never heard of a caller with that ratio of assets. Yes they are a millionaire but should probably diversify those assets.
Are you married? Because if you maxed for 24 years at 7% you would have $3 million
When you do get that break, you won't have to increase your grocery budget. Your cocaine budget will have to increase though.
My cocaine budget took a huge hit when we had a kid and that was exactly the time when I needed it the most.
4 years ago, haven't looked back
Any lessons learned are you transitioned? Do you think you were prepared? Pleasant surprises and unpleasant surprises?
I'm SSSOOOOO close I can taste it...
My point was its a myth that each person is paid the same, which it is. Yes, we all get the same increase year after year. But even if you are at 30+, you still get the increase that the union bargained for. So do all the nonunion teachers, I like to call them scabs. I pay my union dues, and they get the same raise that our union bargained for.
How is education any different than many factory jobs, they use a scale, and where you land on the scale is your salary.
Years ago I was teaching in a district that gave bonuses to teachers for meeting district standards or above. The only problem was no one except the shop teacher knew about it. He was good friends with the principle. We figured he made an extra 3 grand for each of those years. When the rest of us found out, we did the extra eval. I think I ended up with an extra hundred bucks like everyone else. That was dropped from the contract shortly after.
The problem with merit based pay in education is it just does not work real well. What do I base it on? Maybe one year I have a class of highly rated kids and then the next year I have a lot of poor to average students. Their basic skills ranking is going to up or down depending on how high the kids are. Take a teacher that only has upper level AP classes, how do you compare him to the teacher that has all freshman students? You can't, merit pay for teachers sounds good on paper, but generally does not work in the classroom.
Sure you can. Like any private business would. Managers find the best employees and negotiate pay. Pretty sure it wouldn't take me long to talk with some students to figure out who the good teachers are at the school.
There are ways to do a good eval, if the principals actually were willing to do it. When our kids were going through elementary, I requested kids that my wife told me to request. She knew who were the poorer teachers, who wouldn't communicate, had no issues teaching from a desk, showed twice as many movies (just plain movies to kill time) as any other teacher. My wife knew who the good teachers were and who weren't. I have had the current and last two former superintendents tell me that they have put notes in my wife's file that she is one of the strongest instructors at the school. We would have private conversations and with some language I can tell that they felt some of the instructors were definitely sub par.
The old contract had language in it that in the case of cuts, that the last hired would be the first let go unless there was noone else that could fill their position currently on staff. Thankfully the worst instructor was in that group, but a top 1/3 was also in it.
So how is that any different than any other job? You are correct the kids will be able to tell you who the good teachers are and the poor ones. We as a staff know the same thing.
But how do you prove it for merit based raises? Are you going to listen to parents, maybe they have a grudge against a teacher, hell I have personally witness fine teachers pushed out because they pissed off a parent or administrator.
Like I said, any district that continues to employee poor teachers, that falls on administration, they can get rid of the them if they want too.
I remember teaching with a science teaching years ago, many parents and kids thought he was the biggest prick on the staff, if many had the chance, they would have forced him out. I thought the guy was a jerk myself, the kids literally wrote the book in their notes. What I noticed later on, was the kids that went to college, when they came back, they always wanted to thank him, on how well they learned science and how he had prepared them for college.
So one persons great teacher maybe someone else's worst nightmare. Like I said earlier, teaching is just like any other profession, a few great teachers in any school, a few horrible teachers and many are just average or a little above. Why should teachers be any different than any other field of work. We sure are not being paid like many fields, with the same amount of education as we have. Its just easy to pick on education, and tell all of us, we need to do a better job.
You want a lousy paying job with high amounts of education? I ran a factory that was the job center for mentally and physically disabled. They needed a business person to run it. I was the only one with a bachelors, everybody else had a masters. I worked with people who had the same years experience as my wife. She made 33k teaching and they made 24k with a masters and 2 weeks vacation and on call for weekends if staff didn’t show up.
Anybody ever complains about their pay, I tell them to check out the people who get to work with physically and mentally ill and they will feel lucky.
I've followed this whole thread, if your so unhappy and life is so unfair quit. Go start a new job and enjoy your new life. Sounds like your just going to go teach somewhere else, hope it works out for you. If you really need a change start a new career in a new occupation. Near as I can gather the teaching profession has given you a pretty good lifestyle and the opportunity you retire at a relatively young age. I have no idea if your a good teacher or not but from most of your discussion in this I think you might be. But to once you start saying how terrible you've had it in a profession that is really pretty secure I'm beginning to wonder why you want to continue in it. Good luck with whatever you decide or do.
Never said I was unhappy in my job or life, in fact, I started the thread with the words "I love my present job." I just may have an opportunity to retire in Iowa and jump across the border and continue to teach, thereby earning more money.
Nor, did I say "I had it terrible in the profession." Just do not like to see people continue to say that "we have poor teachers" and complain about the way in which we are paid. Do I think we should earn more, ya, I do, but everyone says that about their job. But this idea that it should be merit based generally will just not work, I have pointed out why, but for some that is not enough. Hard to change peoples opinions.
Have a great day and a better weekend.
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Retired at 59. Between 401K, investments, real estate, SS, and inheritance, we should be fine. We are fortunate and thankful our Iowa State degrees yielded great careers.
Biggest concern for us (other than the market tanking) is state income tax. Our current home state is not friendly so we are investigating the next move. Most likely is splitting time between South Dakota (no state tax) and Arizona (no snow).
Biggest concern for us (other than the market tanking) is state income tax. Our current home state is not friendly so we are investigating the next move. Most likely is splitting time between South Dakota (no state tax) and Arizona (no snow).
Argent wants professional compensation to be determined by what 5th graders think of their teachers.
My neighbor's dad bought him anything he wanted. My dad was the opposite; he made me save half of my paychecks. As a 15 year old you know who the "better dad" was? The one who bought whatever my friend wanted. You know who is now broke, living paycheck to paycheck with no understanding of finances? You guessed it, my old neighbor.
Who was a better teacher?
planning on yoloing spy puts in 2023 and then retiring. i have discovered a fail safe market correlation between a certain insects migration patterns and market crashes.
Is anyone planning on retiring in the next few years? Are you planning to have a investment professional help get you there? I'm primarily concerned with tax hits from 401K, pension, etc.. I'd like to make reasonable choices but not spend a lot of money for an advisor. Many advisors I have found want a steady fee over time, but I'd like to just get periodical checks to make sure everything is going well.
I retired 8 years ago at 62 on my birthday. I now see I should have done more Roth saving. It is such a better deal IMO. I am 3 years away from RMDs and I have already started taking voluntary distributions trying to reduce my RMDs. Taxes on untaxed 401k or IRA are substantial. Plus, you get a double penalty because the retirement distribution also increases the amount of your social security that is taxed. I made all my investment decisions, never used an advisor.
Biggest surprise, after 8 years, we still have essentially the same amount of savings as we started with. Which means Social Security, a small pension and investment gains have been enough to pay the bills.
Biggest surprise, after 8 years, we still have essentially the same amount of savings as we started with. Which means Social Security, a small pension and investment gains have been enough to pay the bills.
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