Show 63 - Leaving when you're ready with Stacy from Rewire Behavior
In this episode, I talk with Stacy about how she got to the point of stepping away from the classroom.
12/11/20241 min read
The decision to leave the classroom can be one of the hardest decisions you ever make, but sometimes it needs to happen. In fact, staying in the classroom past your expiration date does more harm than good. Fortunately, Stacy knew exactly when it was time to go, so she could spend more time with her infant, AND she had the means to do that. Find out how she was able to step away in this episode!
Show Notes
FB rewirebehaviorfinancialcoaching
Episode about Long Term Disability
Recommended Books (Amazon Affiliate Links)
TL;DR Retirement System Book Series
This series will help you understand how your pension will effect your desire to leave the classroom.
Key Ideas
Make a lofty goal such as maxing out your 403b and your 457! Even if you fall short, it will drive you to your absolute best.
Look into the 457 if you have that option to create more flexible wealth. Since a 457 allows you to draw on it penalty free after you stop working for that employer it is an ideal early retirement account.
Prioritize your goal over unimportant things. If something doesn’t matter to you, why are you spending money on it? Put your money where your goals are.
If you leave the classroom, go to something else, not just away from teaching. Having a next phase in life with help you transition and have a more fulfilled life.
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
Another great retirement account that people don’t often think of is the HSA. An HSA is made for medical expenses but can be drawn upon just like a retirement account after retirement age. Tax free going in, tax free growth, and tax free coming out. If you have access to it with a good provider, don’t pass up on that!