1. Are you really a millionaire?
Yes, in September of 2016 we finally passed the $1 million mark. That number represents all the assets in our household. Our next goal is for both Edwina and I to amass $1 million individually. Then, we’ll both be millionaires. We are also trying to help our son on his path to FIRE. Here is our most recent net worth update.
2. Did you really build your wealth working as a teacher?
Yeap! Most of our wealth was saved working as public school teachers in Georgia. The first $100,000 of our wealth was earned while working as teachers in Saudi Arabia. While we worked in other professions earlier in our lives, we did not start building wealth until we both became teachers.
3. Who is Ed Mills?
Ed Mills is the Millionaire Educator. He is a selfishly employed educator who prefers to work short-term teaching gigs. He does not work for income; he works to save as much money as possible (see paycheck below). He has multiple certification areas, but he is most comfortable teaching Spanish. He is a husband, a father, and a coach. In a previous life, he was a D-1 basketball player.
4. Why are you guys working again? Would you ever consider working again?
After a taking the 2013-14 academic year off, we decided to take new jobs in another undisclosed location in south Georgia. We did this for two main reasons. First, we wanted to push through the the 7-figure threshold and hit the “magic” mark of $1 million. Second, our son expressed an interesting in attending traditional school. Since the schools are pretty good in our new town, we decided that we would all benefit from our new “crappy” jobs.
5. What is the ultimate goal of your blog?
The goal of this blog is to help teachers, and other working-class individuals, realize, understand, and act on the fact that it truly is possible to build wealth in the U.S. via a “normal” job. The ideas on this blog should help traditional teachers aspiring to work 30+ years, late starters aiming to accelerate their financial progress, and unconventional oddballs attempting to achieve financial independence after only 5 to 15 years of work. Ultimately, the ideas presented here should help readers dominate their financial affairs so that they can live the good life free from persistent money worries.
- FAQ #1: How Do You Save So Much Money?
- FAQ #2: What Do You Live on?
- FAQ #3: How Do You Invest Your Money?
- FAQ #4: How Did You Earn Such High Teaching Salaries?
- FAQ #5: What about Health Insurance?