Episode 5- Becoming a Millionaire on a Teacher\’s Salary


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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 Episode 2, 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. 

In this episode with Ed, we discuss:

  • How he paid off $45,000 and saved $100,000 in 5 1/2 years
  • The benefits of a 457 Plan and how to figure out if you have access to one
  • Why the fees that you pay on your investment accounts matter
  • How to become more tax efficient and how tax planning can substantially increase your ability to save and invest
  • Ways to save and invest no matter your income
  • How to live a good life while saving more than half of your income


[bctt tweet=\”I\’m listening to Episode 5 of the #JourneyToLaunch podcast, Becoming a Millionaire on a Teacher\’s Salary w/ @Ed_Mills_ \” username=\”journeytolaunch\”]

[bctt tweet=\”It\’s up to you make a plan and start saving @Ed_Mills_\” username=\”journeytolaunch\”]

[bctt tweet=\”Somone else has a claim on your paycheck until you pay off your debts @Ed_Mills_\” username=\”journeytolaunch\”]

[bctt tweet=\”If you keep your expenses in check, you\’ll be able to ramp up your savings @Ed_Mills_\” username=\”journeytolaunch\”]

[bctt tweet=\”Wrestle control of your financial life so you can live the life you\’re supposed to live @Ed_Mills_\” username=\”journeytolaunch\”]

Other related blog posts/links mentioned in this episode:

Ed\’s post\’s- 2017 Free Money , How We Saved $500,000 in 4.5 Years,

YNAB Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link

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