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Posted on 7/24/18 at 2:10 pm to anc
I wonder how they do the net worth calculations on educators..
If you are a public educator and have a pension, do you calculate the payout as what you would you would need to have in a 401k to get that same income?
If you are a public educator and have a pension, do you calculate the payout as what you would you would need to have in a 401k to get that same income?
Posted on 7/24/18 at 2:21 pm to anc
Includes few of these
Includes lots of these
quote:
K-12
Includes lots of these
quote:
college professors
Posted on 7/24/18 at 2:23 pm to anc
According to that chart, the educational levels go through bachelor's, master's, doctoral and "professional." What is professional? And why is the health care professional so off the charts higher than anyone else?
Posted on 7/24/18 at 2:24 pm to slackster
quote:
It would be like a study saying 75% of millionaires are stay at home moms.
Exactly
Posted on 7/24/18 at 2:39 pm to anc
Are these families where both people are educators, families with one person who's an educator?
If it's the former I'm guessing it's mostly people who are college professors at major post-graduate programs or Deans at colleges. Also are they just looking at employees of schools, because a lot of places that would be the football or basketball coach.
If it's the latter, I assume the other spouse makes a lot of money.
If it's the former I'm guessing it's mostly people who are college professors at major post-graduate programs or Deans at colleges. Also are they just looking at employees of schools, because a lot of places that would be the football or basketball coach.
If it's the latter, I assume the other spouse makes a lot of money.
Posted on 7/24/18 at 2:47 pm to MLCLyons
quote:
If it's the latter, I assume the other spouse makes a lot of money.
It's mostly this.
There are many people who would teach if the pay was better. If income/wealth is no longer a concern due to outside factors, those people teach. Causation/correlation kind of thing.
Posted on 7/24/18 at 2:48 pm to TheCaterpillar
quote:
They took low paying jobs because they married rich or come from money. I know several super rich girls from money that became private school elementary teachers because it was an easy major and they had to have some job while searching for a husband.
Then being a educator would not be the source of their money, those cases are excluded from the book's statistics for obvious reasons.
Posted on 7/24/18 at 2:50 pm to anc
Wow. It's almost like there are 3.5x as many K-12 teachers in the US as there are attorneys or doctors. Now add in administrators and post-secondary educators and we are probably talking 4.5x as many. It shouldn't be a big surprise that there are "more" millionaires who are "educators".
A more meaningful statistic would be what percentage of educators are millionaire and what percentage of lawyers/doctors are millionaires?
A more meaningful statistic would be what percentage of educators are millionaire and what percentage of lawyers/doctors are millionaires?
Posted on 7/24/18 at 2:51 pm to EA6B
quote:
Then being a educator would not be the source of their money, those cases are excluded from the book's statistics for obvious reasons.
They aren't excluded though.
Posted on 7/24/18 at 2:51 pm to LSUBFA83
quote:Most teachers
bachelor's
quote:Very few teachers, mostly administrator and college
, master's
quote:Not sure any teachers outside of Universities some administration
doctoral
quote:Usually people who work in a particular field and considered "experts" that come and work for a University helping students and teaching them the craft
"professional."
Posted on 7/24/18 at 3:08 pm to slackster
quote:
Then being a educator would not be the source of their money, those cases are excluded from the book's statistics for obvious reasons.
quote:
They aren't excluded though.
What would be the point of compiling statistics relating a persons net worth to their career choice if sources of money outside there career were included, and just like the first book they are not.
Posted on 7/24/18 at 3:16 pm to anc
Loved the first one. Can’t wait for the sequel.
Posted on 7/24/18 at 3:32 pm to CFDoc
quote:
engineers
quote:
millionaires
frick, I'm doing it wrong.
Go work for a company like Shell for 20 years and lead a couple big projects and you'll be a millionaire. I know one Geologiest for Shell who made enough to purchase a crib in Jackson Hole and an engineer who owns a house in Telluride, Destin and a nice house Uptown. These guys are retired now but put in 30+ years for Shell.
Posted on 7/24/18 at 3:39 pm to anc
The only teachers I know who are millionaires either married up or inherited that. They only teach at private schools because they don't have kids are kids are in school and gives them something to do.
Posted on 7/24/18 at 3:42 pm to ellishughtiger
I know a couple of teachers that are either millionaires or close to it.
One has written a few published books on education, the other invested a small inheritance that helped him out tremendously.
They have several who write books, write lesson plans, do speaking arrangments who are still classified as "teachers" but haven't stepped into an actual classroom in years that make good money.
One has written a few published books on education, the other invested a small inheritance that helped him out tremendously.
They have several who write books, write lesson plans, do speaking arrangments who are still classified as "teachers" but haven't stepped into an actual classroom in years that make good money.
Posted on 7/24/18 at 3:46 pm to tduecen
My mother was an educator for 35 years with a few published pieces and she's no millionaire, haha.
But yea, not doubting that some are. I feel like being a teacher you have a lot of extra time on your hand to work on a book.
But yea, not doubting that some are. I feel like being a teacher you have a lot of extra time on your hand to work on a book.
Posted on 7/24/18 at 4:04 pm to ellishughtiger
The one I know who writes books he created a math book that a company bought and is used a lot then he is asked to update it every few years. So he got some upfront and he gets some residuals. Plus he has written other educational books as well.
Still teaches as well which is pretty cool, says he does it still for the insurance and the fact that he is a published author and the Parish has used his book before they will not fire him.
Still teaches as well which is pretty cool, says he does it still for the insurance and the fact that he is a published author and the Parish has used his book before they will not fire him.
Posted on 7/24/18 at 4:37 pm to anc
The same principles apply no matter which category, some just take longer to get there. If you use a budget, invest, and put away for retirement most could retire a millionaire. My pops was an engineer and made smart choices and retired a multimillionaire at 55. Wife and I both have great jobs, but say no to a lot of things now so we can be retired much earlier than 55.
Posted on 7/24/18 at 5:05 pm to anc
quote:
8% of millionaires are educators.
My parents are kind of in this group. Mom was a teacher her whole career. Dad sold his business and taught shop for another decade, while his investments made them millionaires before retiring. They were both big savers and dad was pretty good with investing, but it would have taken a lot of discipline to become a millionaire on just the teacher salaries.
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