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013 | Our guest: Millionaire Educator shows us how to invest your money. He shows how teachers, firefighters, police officers and public employees can leverage the power of pretax savings to supercharge their\\xa0retirement , and become\\xa0millionaires.

Take this information to learn how to invest your money and retires decades before your peers Ed\\u2019s journey from a college basketball player to a Spanish teacher Graduate school led to $45,000 total debt at age 33 Taught ESL in Saudia Arabia and paid off debt Returned to the US from Saudia Arabia with a $110,000 net worth Had to figure out the concept of FIRE before it even existed Taught in public school in Georgia for the next 7 years

The two retirement plans available to public sector employees: 403(b) and 457 Teachers can fully fund both of these accounts ($18,000 to each in current year) Putting away this money helps dramatically decrease your taxes

In 2007 his net worth was $400,000 2009: Next phase of their retirement journey 403(b) fees are significant, so it was to their benefit to move jobs to roll their 403(b) accounts to a lower fee (\\u2018separation of service\\u2019 clause) 457b is a special account as it doesn\\u2019t have the 10% penalty for pre-59.5 age withdrawals

Phase 3 of retirement plan: Starting in 2014 they worked for 2 years and saved $238,000 What they are living on: a) $90,000 from 457s b) 72-T withdrawals from IRAs How to control your tax bracket for big savings (potentially down to $0)

Debt avoidance: debt is paid with after-tax dollars Geo-arbitrage and living abroad or even just a lower cost state 457b account is an emergency fund that is pre-tax dollars

How Brad and Ed are not \\u201cperfect\\u201d with their investing Pay increases for teachers when attaining new degrees. Raises that last a lifetime Earning extra money for coaching and extended day teaching to max out retirement accounts How they saved over $100,000 in a year towards retirement accounts\\xa0