We’re kicking off a new collaborative idea here at One Money Design called Everyday Money Heroes. In short, the Everyday Money Heroes will contribute content across specific areas of personal finance (budgeting & spending, investing & retirement, Bible & Money, and Debt Management).
I’d like to introduce Danny Kofke who will be contributing to the Budgeting and Spending area and sharing how he is thriving on a teacher’s salary. This is an introductory post from Danny previously written for his blog. Danny has agreed to re-post it here for OMD readers and visitors to learn more about him and his book.
According to a recent 2010 report by PayScale.com, elementary education is listed as the second worst paying college degree. I want to show others that one can do well financially even if they don’t make a large salary.
My name is Danny Kofke and I am currently a special education teacher in Georgia. I am an elementary education major and taught kindergarten and first grade before moving into special education. I have done something to show others how they can do well despite earning a modest income.
I have written the book “How To Survive (and perhaps thrive) On A Teacher’s Salary.” I’ve been a teacher for ten years and am proud to say that passion for the craft keeps me in the classroom but smart savings and basic understanding of financial principles have kept my wife (willingly!) at home with our children.
Many find it hard to believe that one teacher can support a family of four, but “How to Survive” explains the steps necessary for others to follow suit and save for life’s journeys.
In my book I show others how to:
- Retire with a sizable nest egg
- Teach in a foreign country
- Own all of their possessions – including their cars and houses
- Invest in Roth IRAs and 403bs
- Establish a weekly budget
- Live a financially secure life on a modest salary!
I have been been featured in a number of publications including USA Weekend, The Atlanta Journal Constitution, Bankrate.com, PARADE, Instructor Magazine, CNN.com, CBS MoneyWatch.com, FoxBusiness.com, The Wall Street Journal, ABCNews.com, AOL.com, Yahoo Finance, Consumer’s Digest, Bottom Line Personal, Your Family Today and The Huffington Post.
I have also been interviewed on over 150 radio shows and on numerous television shows including The 700 Club, Fox & Friends, ABC News Now, CNN’s Newsroom, FOX Business Channel’s Varney & Company, The Clark Howard Show, and MSNBC Live.
A lot of people think that figuring out financial matters and investing are difficult and are intimidated by it. I want to show others that if this 34 year-old school teacher can figure it out then they can too.
What do you think are some of the biggest challenges with surving on lower incomes?
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