How Wealth Adds Up for Teachers ft. Crystina Cardoza

Today, we have featured guest Crystina Cardoza who is a math specialist and financial literacy educator. She shared her passion for teaching math and encouraged others to be more confident in their math abilities to thrive in their finances.

Teachers, Families, and Wealth

As a long-time educator and math specialist, Crystina Cardozo has the privilege of working with students as young as kindergarten to college. As a bonus, she gets the opportunity to engage with their parents and most importantly, other educators.

Throughout her journey as a teacher, she discovered the lack of financial literacy in the school system itself. While society often blames teachers for not teaching this or that, no one wonders who is teaching the teachers.

Through self-directed education, Mrs. Cardozo was able to empower herself by studying the stock market, learning the advantages of different types of retirement/taxable accounts, buying wealth-building assets, and overall learning how to make effective decisions that have increased her net worth. In doing so she was able to change the trajectory of her family’s future. We discussed how she is aiming to not only inspire others but to get them in gear.

Additionally, she created a Parent & Me course where parents and kids openly discuss and learn about the once-taboo topic of money. Her goal is to have money talk be an open topic in the household and to let it be the bridge that closes the wealth gap.

Ways that Teachers Can Become Millionaires

According to Investopedia, teachers can build wealth by simply starting to save and invest early. Teachers can consider contributing to retirement accounts like their 403Bs, 457Bs, and/or Individual Retirement Accounts (Traditional or Roth IRA). While you might not be able to maximize your contributions of up to $23,000 in 2024 (403B) or $7,000 (for the IRA), you can still make a massive dent in your savings with every discretionary dollar.  

Additionally, make note of your vesting schedule as well as your pension. The pension is a lucrative source of future income. You are looking at an easy $40,000 annually. There are three essential elements of wealth building: 

• Cover your basic needs, with the leftovers toss those into Savings
• Manage investments on the front end and then manage your spending to maximize tax savings
• Invest money in a variety of assets to diversify and grow your wealth.

According to Quora, teachers should increase their probability of becoming wealthy by: 

• Pivoting their instructional knowledge to social media platforms,
• Open up to certifications or other school activities for additional sources of income,
• Lean into chaperoning college tours or international trips,
• Invest in real estate, especially those that provide housing for teachers i.e. 4/4, and
• Pursuing advanced degrees if need be.

What’s the Financial Griot?

The Financial Griot is a play on two words (Finance + Griot) that hold significance in closing the wealth gap while embracing our differences. We tell the stories that others don’t. Stories about growth, opportunity, and embracing changes. Beyond that, we talk about Finances. Specifically, how to become Financially literate, incorporate actionable steps, and ultimately build generational wealth.

Can you imagine being a Millionaire in 20 years or less? Yeah, it’s possible. 80% of millionaires are the first generation. That means they didn’t come from wealth. We teach you how. Join a community of subscribers who welcome a fresh take on money.

So there you have it, The Financial Griot, or TFG for short. The hosts were able to amass over $2 Million in wealth in about eight years and are on track to retire early. We will gladly share the secrets if you want them since the opportunity is abundant and Win-Win.

Most importantly, we have a soft spot for teachers. They are the silent superheroes of our society.

Connect with the TFG crew on Instagram: 

• Alainta Alcin – Blogger, Travel and Money Enthusiast @alainta_alcin
• Lawrence Delva-Gonzalez, Financial Foodie and Travel Blogger @theneighborhoodfiinanceguy
• Lovely Merdelus – Entrepreneur and Small Business Growth Specialist @lovelymerdelus
• Featured Guest – Crystina Cardozo, Math Specialist, Entrepreneur and Financial Literacy Educator 

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