Education professionals around the country are working two jobs to make ends meet.
According to the Federal Bureau of Labor Statistics, 1 in 5 education professionals are needing to work a second job just to make it month to month. Average annual salaries are around $36,000 according to NEA (National Education Association), this compared to the starting wage of bachelor’s degree graduates of around $50,000 annually.
If you have read any of our previous blogs, you will also see that the educators are spending upwards of $3,000 per year on classroom supplies! We are seeing this number continue to increase as educators are taking on more classrooms and more responsibilities in their daily routine.
Recently, we have seen these numbers come to light as more and more educators throughout the country are coming together to repair this lagging industry. We can see pensions being repaired across the country, as well as, increases in income. However, this is all taking time that many educators do not have.
Now, as we work with more educators throughout the country, we see their goals being pushed back further than they would like. Through our experience in working with educators, we have seen how intimidating and convoluted their financial situation can be. All educators seem to hear is: “your pension is failing, you are losing retirement benefits, you are paying too much in your investments, and you are not on track to meet your goals.” In the meantime, they look at their financial situation and say, “I am needing to work two jobs just to make ends meet, where do I have the money to save for retirement?” With all these claims being made to educators, where can you turn for the answers?
Public Sector Investor has partnered with education experts in pensions, investments, benefits, and retirement accounts to holistically help education professionals. We have heard our educators concerns and become a one stop shop for education professionals throughout the country. We work to alleviate these pressures on educators and provide them true fiduciary advice on their situation.
If you have had advice from a financial professional in the past or have never taken the steps to review your situation, it is not too late. Schedule a free review with an expert to find out the answers to your concerns.