Don and his wife are both teachers. They have combined teaching income of about $125K. On top of teaching, they earn about $20K in additional income from side hustles. He discusses how he earns income on the side and the positive attitude needed to increase your earnings. They have about $350K in retirement accounts, $10K in cash, $7K in gold, and $7K in a 529 plan. Don also discusses his pension and provides advice to others who are pension eligible. Furthermore, he and his wife spend about $75K annually.
- Gender Male
- Age 30’s
- Profession Teacher
- Net Worth $630k
- Retirement Accounts $277k
- Home Equity $217k
- 529 $6,500
- Cash $10k
- Other $7,500
- Investment Philosophy Primarily Pension/Index funds
- Household Annual Spending $74K
- Range of Annual Income $74K – $144K
- Financial Goal Simple Life with little financial commitments
Highlights
Don’t go spend money. Once you pay off the bill, it put it in the stock market, put it savings bond, put gold, put it in something that expects, caused a return, don’t go buy another car. He would always, you know, we would, we’d be sitting in his house and a new car would go buy a new day. Yeah, that’s a nice new car. He’d always say, remember this though, you know you get the new car and everybody tells you how nice it is the first day you have it. And then the second, second month you have it. People tell you a little bit glass. And then what happens is three or four years down the road, nobody’s telling you how, how great your car is, but you still have the big payment and you don’t think your car is nice, but you’ve got the payment.
I tell you what, if there, if, if somebody said to you, if somebody is asking me and said, hey, we’re writing a book, what do you think is the biggest key to saving money? I would tell them flat out, stop eating out. Right. As a biggest thing we did, we, we’ve eaten out. Maybe we have eaten a meal outside of our home that we didn’t cook maybe four times in the last year except for when we’re traveling, like when we go see family and stuff, but we just all don’t eat out. That’s not our lifestyle. And it’s interesting to see. Just to add, when you know, when you work in a big office environment, people that bring food every day or the people that you know, a couple of times a week they go out or the people that go out every day don’t get me started on that.
Leave a Comment