Charting Paths to Financial Stability and Freedom

In my last few posts, I’ve discussed some of the bigger ideas in personal finance, offering general guidance with fewer details. I started this way because I believe that as educators navigate their personal finance journey, we must balance experience and efficiency, focusing less on numbers. At the same time, I think it is important to acknowledge the obstacles that can prevent teachers from achieving financial stability and independence including low salary, student debt, affordable housing, and health care. We cannot and should not ignore that folks within education are poorly compensated for their work. The choice to work within education comes with an acceptance of certain financial limitations. 

These challenges withstanding, I think we need to do a better job making the argument that it is possible to achieve financial independence and stability as an educator. Doing so requires thoughtful planning, strategic action, and patience. This is a primary reason that I'm writing this blog and working with clients through Coulee Financial Coaching. I want to help folks in education make informed choices and direct their personal finance journey. 

A view of the Chautauqua Trail in Boulder, CO

With these goals in mind, I'm going to craft a series of of posts that provide illustrative examples that outline possible paths that I see as viable for educators. In doing so, I'm hoping to demonstrate how destinations (goals) and vehicles (behaviors) need to be coordinated with a path (mathematics). I'm also going to do my best to consider managing typical obstacles that folks encounter. A few disclaimers before I get too far:

  1. The content is intended to be educational. It should not be taken as investment advice, legal advice, etc. I'm hoping that by discussing different paths, I can spark conversation, engage curiosity, and encourage readers to lean into understanding their financial opportunities.
  2. Paths are contextual. The path a person follows should be grounded in their goals and behaviors. Although I plan to highlight a few paths, I'm not necessarily trying to value one path over another. 
  3. I value consistency over speed. I think it is better for folks to pick a longer path that they can reliably follow at a slower pace than to pick a shorter path that is harder to follow.
  4. To help illuminate a particular path, I'm going to have to make assumptions about a lot of things. 
I'm going to start with a base path with the following underlying assumptions: 
  1. It is accessible to most folks in public education in Wisconsin.
  2. It does not require complicated financial structures.
  3. It does  not require complicated behavior.
  4. It provides flexibility to adjust direction as life circumstances change.
Let's see how this series shakes out! If you have ideas, thoughts, questions, feel free to comment or reach out!

First posted 11/14/2024

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