Join Shaun Morgan on *The Teacher Money Show* as he sits down with Ryan Cruz, co-author of *TL;DR Texas Pension*, to discuss Ryan’s inspiring journey toward financial independence. From overcoming debt to mastering pension rules, Ryan shares actionable insights every teacher can benefit from.

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:**

💸 **Eliminating Debt and Building Wealth** (@3:26):

Like many people, Ryan began his career with $50,000 in debt. When he got married they had $60,000 in debt. Within 10 months they paid off student loans, credit cars, and a car loan within the first year of marriage. That is impressive! He then switched these dollars to maxing out retirement accounts like Roth IRAs and 403(b)s to retire early at age 55. And so can you!

🏦 **Mastering Texas Pension Rules**

Each pension is so different it is important to know the rules of the Game. In Texas, for example, Ryan explains the “rule of 80” and how understanding your pension plan can lead to earlier retirement and better financial outcomes. If you are relying on your pension, make sure you understand it!

🌍 **Retirement Goals and Giving Back**

Whatever you do in retirement make sure you plan to do it! Ryan shares his plans including traveling, spending quality time with family, and using his resources to support teachers and organizations like NGPF.

**If you’re a teacher aiming for financial independence, this episode is packed with insights to help you build wealth, navigate pension systems, and create a stress-free retirement!**

🔔 **Subscribe for More**

Don’t forget to subscribe to *The Teacher Money Show* for expert advice on financial literacy, investing, and retirement planning for educators.

#TeacherMoneyShow #FinancialIndependence #TeacherPensions #PersonalFinance #DebtFreeJourney #Investing #EarlyRetirement #Teachers

In this episode, Shaun Morgan sits down with Mason Gomes, aka @budgetteacher, to explore the powerful strategy of house hacking to help teachers build wealth.

Explore the show notes at:

https://www.teachermoneyshow.com/show59

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

As an elementary teacher in Canada, Mason shares his own journey with house hacking, using his primary residence as an income-generating tool. Whether you’re considering renting a room or creating a basement suite, Mason explains how house hacking can offset housing costs and accelerate financial stability—perfect for teachers on a budget!

**Key Topics Covered:**

- **Intro to House Hacking**: What house hacking is and how it can help teachers achieve financial growth by creating passive income streams with their homes?

- **Mason’s House Hacking Story**: How Mason and his wife started renting out part of their first home and scaled up to a property with a self-contained unit, using rental income to achieve financial freedom by paying down their variable rate mortgage.

- **Tips for Successful House Hacking**: Remember, don't jump into this flippantly. Research your market and make sure what you have to offer is something you would use yourself. These are two of the great tips Mason offers, listen for more!

- **Tenant Management and Risk Mitigation**: Mason dives into tenant management essentials, including tenant screening, lease agreements, and handling tenant laws in areas with strong protections. Just because it is your personal residence doesn't mean you don't need to understand real estate to do this.

- **Financial Benefits of House Hacking**: Learn how Mason used rental income to accelerate mortgage payments, build an emergency fund, and even fund home improvements.

- **Advice for Teachers**: Mason’s top advice for educators—focus on spending aligned with your values and enjoy the simple joys in life.

For teachers looking to get started with house hacking, this episode provides a great starting point for understanding your first steps.

#TeacherMoneyShow #HouseHacking #BudgetTeacher #FinancialFreedom #PassiveIncome #RealEstateForTeachers #FinancialLiteracy #InvestingForTeachers

Explore the show notes at:

https://www.teachermoneyshow.com/show58

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

- **Investment Goals & Education**: Why setting clear financial objectives and reading up on your chosen investment strategy is essential.

- **Watch Those Fees**: The importance of keeping 403B investment fees under 1%, with resources like 403bwise.org.

- **Passive Investing**: How passively managed funds, like index funds, often outperform high-fee, actively managed accounts over time.

- **Risk Reduction Tips**: The benefits of rebalancing your portfolio and maintaining an emergency fund to cushion against unexpected expenses.

- **Avoiding Market Timing Mistakes**: How to make the most of dollar-cost averaging to reduce anxiety about market fluctuations.- **Yearly Portfolio Reviews**: Why regular asset allocation reviews and consulting with fee-only advisors can help you avoid costly mistakes.

- **Balancing Savings & Investments**: How to keep contributions consistent across both high-yield savings accounts and the stock market.

Stay tuned to learn how these strategies can build a more secure financial future, tailored for teachers. For personalized coaching on your investment journey, reach out to Shaun through the podcast for in-depth advice!

#TeacherMoneyShow #InvestingMistakes #FinancialLiteracy #403B #IndexFunds #InvestmentStrategy #FinancialGoals #TeacherFinance

Explore the show notes at:

https://www.teachermoneyshow.com/show57

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

### Key Ideas:

- **Wealth Beyond Income** – Wealth is about freedom and reduced stress, not just luxury. A stressed millionaire is poorer than a stress free potential millionaire.

- **Common Financial Pitfalls** – Things that cause stress consistently pull money out of your pocket. For example, credit card debt, lifestyle inflation, and overextending on big purchases like housing.

- **Strategies for Building Wealth on a Teacher’s Salary** – don't get me wrong, having more money helps reduce stress if you can keep it. So we talked about increasing the money you keep with geographic arbitrage, maximizing employer retirement contributions, and creating income/expense gaps.

- **Key Financial Habits** – If you want to be successful you need to build some key financial habits. For example, “Pay yourself first,” track your expenses, and consistently pay into retirement accounts.

Tune in to start transforming your financial mindset and find more wealth in a life of lower stress and greater freedom!

Explore the show notes at:

https://www.teachermoneyshow.com/show56

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

**Key Takeaways:**

- Long-term disability insurance can replace your income if you become disabled, but it’s important for teachers to understand their employer’s policy (which is likely not enough) and consider supplemental coverage.

- Disability can be either physical or mental, and statistics show that 1 in 4 people over the age of 20 will face disability in their lifetime. (It isn't just for people in manual labor jobs).

- Your district likely offers short term disability insurance with between 3 and 6 months of coverage. The long term disability coverage will then take over after that (hopefully). There might be a gap, so being prepared to fill that is essential!

- Going on disability can also impact your pension. It probably varies from pension to pension, but look into that and prepare accordingly.

Whether you're a teacher looking to better understand how disability insurance fits into your financial plan or an educator wondering how to protect your income in case of unexpected life events, this episode is filled with valuable insights to help you secure your financial future. Tune in now to learn how to protect your financial future!

In this episode of The Teacher Money Show, host Shaun Morgan delves into the essentials of investing in stocks using index funds, with a focus on practical strategies for educators.

Explore the show notes at:

https://www.teachermoneyshow.com/show54

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

In this episode, I explain why index funds are an ideal investment option for teachers, offering automatic diversification and low fees, making them easy to manage. He breaks down the long-term impact of investment fees, urging listeners to choose low-fee funds from trusted companies like Fidelity, Vanguard or Charles Schwab. I also touch on the power of dividend reinvestment for compounding growth.

The episode covers key elements of retirement planning, including setting clear income goals, considering pensions and Social Security, and using the 4% rule for safe withdrawal rates. I encourage teachers to start investing early, even with small amounts, and to use dollar cost averaging to build wealth consistently. Throughout the episode, I give strategies to help educators to share financial knowledge, both to improve their own financial futures and positively influence their students. Don’t miss this episode packed with actionable advice to kickstart your investing journey!

Explore the show notes at:

https://www.teachermoneyshow.com/show53

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

Colleen has great experience teaching young people finances and shared the importance of using real-life scenarios to make the lessons relatable and involving parents to break generational taboos around money discussions. It was a fun conversation!

Teachers interested in financial education will learn practical tips on balancing their careers while building financial knowledge, tracking personal finances, and even pursuing a financial coaching certification. Watch this episode to learn how teachers can better prepare for career uncertainties, improve their financial literacy, and help their students achieve their financial goals.

For more information, visit Colleen at salchowcoaching.com or follow her on social media @salchowcoaching.#TeacherMoneyShow #PersonalFinance #FinancialCoaching #TeacherFinance #Education #FinancialLiteracy

Explore the show notes at:

https://www.teachermoneyshow.com/show51

Become a guest on the show:

https://www.teachermoneyshow.com/guest

Leave a voicemail question:

https://www.speakpipe.com/teachermoneyshow

Then we dive into travel-related side hustles for teachers, including becoming a travel agent, content creator, or trip host. This allows you to either make money while traveling or tax write-off or both, or get bonuses that allow you to travel for free. It is up to you to discover which option is best for you.

For teachers looking to balance full-time jobs, travel, and side hustles, We discuss strategies for maintaining a healthy work-life balance and ways not to overcommit financially. Tune in for valuable insights and resources on how to make money while pursuing your travel dreams as a teacher!