In this episode of *The Teacher Money Show*, Shaun Morgan sits down with Rashad Muhammad to discuss setting realistic retirement goals, building wealth, and maintaining financial discipline as an educator. Rashad shares his inspiring journey from financial struggles, including bankruptcy, to achieving financial independence and planning for early retirement.

Explore the show notes at:

https://www.teachermoneyshow.com/show69

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https://www.teachermoneyshow.com/guest

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Key topics covered include:

- **Rashad's Personal Finance Journey**:

Rashad turned his finances around after taking a Financial Peace University course and set a goal to retire at 52 with $1-2 million in investments. He talks about how it isn't easy, but it is doable!

- **Retirement Planning**:

We discuss using the 4% rule for sustainable withdrawals and leveraging pensions as part of a retirement strategy.

- **Avoiding Lifestyle Creep**:

Rashad emphasizes directing raises and bonuses into savings and retirement accounts to stay focused on long-term goals. Lifestyle creep inevitably means you need more to retire.

- **Budgeting & Living Below Your Means**:

Retirement goal setting and planning won't matter if you can't live below your means. We discuss how to approach that.

This episode is packed with actionable advice to help teachers design a financially secure and fulfilling retirement.

👉 **Don’t forget to like, subscribe, and share for more financial tips for teachers!**

🎧 **Listen now to start planning your retirement goals!**

#TeacherMoneyShow #RetirementGoals #FinancialDiscipline #PersonalFinance #TeachersWhoInvest #BudgetingTips #FinancialIndependence #MoneyManagement

In this episode of *The Teacher Money Show*, Shaun Morgan interviews Clifton Corbin, author of *The Richest Person in Babylon*, a reimagined version of the classic tale The Richest Man in Babylon to explore timeless money principles from his modernized version of the classic financial guide. Clifton shares how he updated the language, characters, and stories to make the book more inclusive and accessible for today’s readers, especially children and young adults while keeping the principles the same for all to enjoy.

Explore the show notes at:

https://www.teachermoneyshow.com/show68

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

The Richest Person in Babylon (affiliate link):

https://amzn.to/40etu1e

Main Take Aways

- **Paying Yourself First**: We spend considerable time focusing on the main idea from the book, pay yourself first. In other words, setting aside a portion of your income before expenses can ensure consistent wealth-building.

- **Investing Wisely**: Then we talk about avoiding "get-rich-quick" schemes and focusing on informed, diversified, and strategic investments.

- **Paying Down Debt**: WE had a fun discussion on the "best" way to pay down debt and Clifton emphasizes the value of structured and intentional debt repayment while continuing to save and invest.

- **Mentorship & Knowledge Sharing**: Lastly we discuss the value of mentorship and the power of sharing financial lessons with others to uplift communities and empower the next generation.

This insightful discussion offers actionable tips to help teachers and anyone striving for financial security apply these timeless lessons in their own lives.

👉 **Don’t forget to subscribe for more financial tips and strategies for teachers!**

🎧 **Listen now and start building wealth today!**

#TeacherMoneyShow #RichestPersonInBabylon #FinancialLiteracy #PayYourselfFirst #DebtFreeJourney #InvestingWisely #MentorshipMatters #PersonalFinance

In this episode of *The Teacher Money Show*, Shaun Morgan sits down with Joel Allen to explore his inspiring journey to financial independence as a teacher. From $150,000 in debt to financial freedom in less than 10 years with kids as a teacher! This story will blow your mind. Explore the show notes at: https://www.teachermoneyshow.com/show67 Become a guest on the show: https://www.teachermoneyshow.com/guest Leave a voicemail question: https://www.speakpipe.com/teachermoneyshow Starting Place for Getting Out of Debt https://www.teachermoneyshow.com/debtinventory Discover how Joel and his wife tackled $150,000 in student loans and mortgage debt within just a few years using Dave Ramsey's debt snowball method. Joel explains how they lived on one income, focused on intentional financial planning, and ultimately became debt-free. Learn how Joel's entrepreneurial ventures, including a thriving wrestling camp and apparel business, provide additional income streams and the flexibility to homeschool their five children. He shares the importance of designing a life aligned with your values and taking calculated risks to achieve both personal and professional fulfillment. Whether you're looking for practical financial advice or inspiration to pursue financial independence, this episode is packed with inspiring insights and encouragement. 👉 **Subscribe for more tips on teacher finances and financial freedom!** 🎧 **Listen now to transform your mindset and your future.** #TeacherMoneyShow #FinancialIndependence #DebtFreeJourney #TeacherFinance #EntrepreneurialTeacher #LifestyleDesign #PersonalFinanceTips

In this episode of *The Teacher Money Show*, Shaun Morgan breaks down the essential investment vehicles every teacher should consider to grow their wealth and achieve financial independence. From Roth IRAs to 457Bs and Health Savings Accounts (HSAs), Shaun provides a comprehensive guide to selecting the best options tailored to your financial goals.

Explore the show notes at:

https://www.teachermoneyshow.com/show66

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

Recommend using Fidelity (affiliate link):

https://fidelity.app.link/e/oCNKRWIuoNb

Learn why Roth IRAs are ideal for flexibility and low fees, and discover the unique benefits of 457B plans, especially for teachers planning early retirement. Shaun also highlights the tax advantages of HSAs for those with high-deductible health plans and shares tips for navigating 403b plans effectively using trusted resources like 403Bwise.

If you're curious about taxable brokerage accounts or wondering why 529 plans aren't ideal for retirement savings, this episode is packed with insights to help you make informed decisions. Whether you’re just starting your financial journey or looking to optimize your retirement strategy, this discussion will give you the tools to build a secure future.

👉 **Subscribe for more tips on teacher finances and retirement planning.**

🎧 **Listen now and take control of your financial future!**

#TeacherMoneyShow #InvestingForTeachers #RothIRA #457B #RetirementPlanning #FinancialFreedom #HSABenefits

In this episode of the Teacher Money Show, Shaun Morgan sits down with Kanwal Sarai, founder of Simply Investing, to explore the power of dividend investing. Kanwal shares his insights on how to create a consistent income stream through dividends, making it possible to build financial independence and stability.

Explore the show notes at:

https://www.teachermoneyshow.com/show65

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

How to Save Money on a Teacher's Salary

https://www.teachermoneyshow.com/save

**What You’ll Learn:**

- **Dividend Investing Basics**: We talk about the basic vocabulary you need to understand what dividends are. We also talked about why dividends are better for reliable income for investors that regular stock investing.

- **Kanwal’s 12 Rules of Dividend Investing**: This is where the magic happens. Learn the step-by-step process to select high-quality dividend stocks, from understanding the business to analyzing debt levels and profitability. These 12 steps, if followed, will guarantee long term wealth generation!

- **Stock Picking vs Index Funds**: It might surprise some listeners that I'm okay with Kanwal's method for picking individual dividend stocks. His explanation for why he does that instead of dividend-focused ETFs or mutual funds works, so be sure to listen to that!

- **Key Takeaways**: Gain actionable advice on prioritizing education, maintaining discipline, and leveraging Kanwal’s strategies for long-term financial success.

Whether you’re new to investing or looking to refine your strategy, this episode provides the tools and knowledge you need to make informed decisions.

🔔 **Subscribe to the Teacher Money Show** for more insights on how educators can build wealth, reduce financial stress, and achieve their goals. Don’t forget to like, comment, and share!

In this episode of *The Teacher Money Show*, Shaun Morgan talks with **Eric Creeger**, an educator who defied the odds and retired early at age 50—even though he started his financial journey later in life. Eric shares his inspiring story, from financial mistakes early in his teaching career to taking control of his finances and achieving financial independence.

Explore the show notes at:

https://www.teachermoneyshow.com/show64

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

Recommend using Fidelity (affiliate link):

https://fidelity.app.link/e/oCNKRWIuoNb

### **What You'll Learn in This Episode:**

💡 **Eric's Financial Awakening**

Eric came from humble beginnings and made common money mistakes, like overspending on a teacher's salary. After ending his first marriage, he decided to turn things around by self-educating and adopting smart financial habits. Educators have a great ability to self educate.

🚀 **How Eric Retired Early at 50**

Eric made these changes to achieve financial freedom:

- Making a plan to get out of debt.

- Living intentionally and below his means

- Making strategic career moves to boost income

- Optimizing his teaching schedule for financial growth

🎯 **Transitioning to a New Chapter**

Now retired, Eric shares how he transitioned to consulting work in education—a passion-driven path that lets him work on his own terms. In other words, he has removed what he didn't like about work to do only what he loves. He retired to something!

📌 **Key Advice for Teachers**

Here are Eric's top tips to have a richer wallet, classroom, and life.

1. **Educate yourself** on personal finance principles.

2. **Leverage the flexibility** of the teaching profession to try new roles and grow financially—especially during summers!

---

🎧 **Subscribe to The Teacher Money Show** for more tips on how educators can build wealth, retire comfortably, and create a life they love. Don’t forget to hit the 🔔 **notification bell** to never miss an episode!

#TeacherMoneyShow #EarlyRetirement #PersonalFinanceForTeachers #RetireEarly #FinancialIndependence #EducatorWealth #TeacherFinancialTips

Join me, Shaun Morgan, as I sit down with Stacy, a veteran special education teacher and administrator with over 15 years of experience, to discuss her inspiring journey out of the classroom and into a life aligned with her personal and financial goals.

Explore the show notes at:

https://www.teachermoneyshow.com/show63

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

Recommend using Fidelity (affiliate link):

https://fidelity.app.link/e/oCNKRWIuoNb

⏰ **What We Covered:**

***Early Financial Strategies**

Stacy built financial flexibility through 403(b), 457, and Roth IRA contributions while supplementing her income with side hustles like officiating and online tutoring.

**Deciding to Leave Teaching**

By taking the right steps early on, Stacy was able to make the decision to step away from the classroom and spend time with her new born son.

**Life After the Classroom**

Stacy didn't just stop working entirely. She continues to work on her own schedule including her financial coaching business, Rewire Behavior, and her contract work in early childhood education where she continues to work with the kids she loves.

📢 **Don't miss this insightful episode packed with practical advice and inspiration for teachers looking to build financial freedom and make life-changing decisions.**

👉 Subscribe for more episodes of The Teacher Money Show, where we help educators achieve financial success!

#TeacherMoneyShow #FinancialFreedom #LifeAfterTeaching #FinancialPlanning #TeachersFinance

In this episode of *The Teacher Money Show*, I sit down with Rob Phelan, a passionate advocate for financial literacy and creator of engaging personal finance resources, to explore how educators can bring financial education to life in their classrooms.

Explore the show notes at:

https://www.teachermoneyshow.com/show60

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

Recommend using Fidelity (affiliate link):

https://fidelity.app.link/e/oCNKRWIuoNb

### **Highlights from the Episode**

⏰ **Limitations of the Dave Ramsey Curriculum**

If you are just starting out teaching personal finance at your school, you probably use the Dave Ramsey curriculum. While informative, it isn't engaging. Now that you've taken baby steps into personal finance education, it's time to look into new resources.

⏰ **Key Principles of Rob’s Teaching Approach**

Teaching personal finance is more than just the numbers, it is teaching students to become informed, value-driven decision-makers. If done right they should be able to encounter a new financial problem and handle it well without being taught it in your class.

⏰ **Impactful Teaching Moments**

Teaching personal finance can have very powerful and very real results for your students. Rob shared about one student who, at age 20, was already investing in a ROTH 401K and an IRA, etc. The impact of this will be astronomical!

⏰ **Advice for Teachers**

If you are just starting your journey into teaching personal finance, remember that your best ally is being a good learner. Keep learning in the way that best fits your personality!

### **Empowering Teachers and Students**

Rob’s story is a testament to the power of engaging, student-centered education. If you’re a teacher looking to make a difference in your students’ financial futures, this episode is packed with actionable ideas and inspiration!

💬 **Join the Conversation!**

What’s your favorite way to teach personal finance? Share your thoughts in the comments!

🔔 Don’t forget to **like, subscribe, and hit the bell** for more episodes of *The Teacher Money Show*.

#FinancialLiteracy #PersonalFinanceForStudents #TeacherMoneyShow #RobPhelan #ChooseFI #FinancialEducation #ClassroomResources