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Starting from $0 at age 35 as a teacher and becoming "the Millionaire Educator" | BP Money 124


Gerry Born is a teacher who is married to a teacher. He started his FI journey when he was 33, with a wife, $45,000 in college debt, and a job in Saudi Arabia teaching English as a Second Language. He knocked out his debt in two years, then threw everything he could into savings. The ESL job provided everything but internet and phone, so he really didn’t need to spend much money if he didn’t want to. After September 11 happened, they moved back to the United States and got jobs teaching - and you know what kind of salaries teachers make! Unhappy with that particular school, they moved on to a different school - and discovered the magic of the 457 Plan. A 457 Plan is an additional retirement savings vehicle available to teachers and certain public employees. It has the same contribution limits as a 401k - but can be immediately accessed penalty-free as soon as you separate service from your employer. Gerry uses this to fund his life while reducing his taxable income to as close to zero as possible. If you’re starting late - or if you’re a teacher or public employee, this episode can give you tips for funding retirement that will blow your mind! Check the full show notes here: ...(read more)


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REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
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