005- Becoming a Millionaire on a Teacher's Salary

<p>Is it possible for a millionaire to become a teacher salary? In this episode, I talk with Ed the Millionaire Educator. I first learned about the 457 plan from Ed when he was a guest on another podcast. If you listened to <a href= "http://www.journeytolaunch.com/episode2/" target="_blank" rel= "noopener">Episode 2, </a>How We Saved $85K, you'll know that I credit access to a 457 plan through my husband's job as one of the ways we were able to maximize our savings last year. It really changed the game for us. </p> <p>In this episode with Ed, we discuss:</p> <ul> <li>How he paid off $45,000 and saved $100,000 in 5 1/2 years</li> <li>The benefits of a 457 Plan and how to figure out if you have access to one</li> <li>Why the fees that you pay on your investment accounts matter</li> <li>How to become more tax efficient and how tax planning can substantially increase your ability to save and invest</li> <li>Ways to save and invest no matter your income</li> <li>How to live a good life while saving more than half of your income</li> </ul> <p><strong>Other related blog posts/links mentioned in this episode:</strong></p> <p>Ed's post's- <a href= "http://www.millionaireeducator.com/2016/10/2017-free-money.html" target="_blank" rel="noopener">2017 Free Money</a> , <a href= "http://www.millionaireeducator.com/2017/01/how-we-saved-500000-in-4-5-years.html" target="_blank" rel="noopener">How We Saved $500,000 in 4.5 Years</a>,</p> <p><a href= "https://www.youneedabudget.com/referral/?ref=Bb6QAPK_Hzv-9cqz&utm_source=customer_referral"> YNAB</a> -  You can try it free for 34 days and after that its $5 a month or $50 a year. I recommend you at least sign up for the free trial. If you don’t want to continue after the trial, you will have at least practiced active budgeting for a month. If you sign up beyond the 34-day free trial using my <a href= "https://www.youneedabudget.com/referral/?ref=Bb6QAPK_Hzv-9cqz&utm_source=customer_referral"> referral link</a>, you’ll get a month free and I’ll get a month free, seems like a win-win