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Retirement ideas for those of us in the EFL profession
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geaaronson



Joined: 19 Apr 2005
Posts: 948
Location: Mexico City

PostPosted: Thu Sep 09, 2010 4:02 pm    Post subject: Reply with quote

Good answers, good clarification. Glad to see that you answered beyond the imperative.

I could not agree with you more on these points. If you don`t enjoy what you are doing, you should find what you do enjoy. But the question the poster raised was not in regard to his dislike of teaching but the perceived lack of renumeration.

He may very well enjoy teaching. I don`t see any evidence to the contrary. However, he is concerned about his savings plan. He needs to make some difficult decisions, true enough. Should he stay in teaching? Should he go into import-export? Back to the states? Or simply, he needs advice and us to reorient him along a better savings plan, lower cost of living options, or more business. Those essentially are his options.

At the moment he sounds as if he is in the doldrums because of the lack of savings. He needs to address that. Can he make it worthwhile for him to continue teaching? If he needs to earn 25,000 pesos a month to live his desired lifestyle, then yes, no matter how much he enjoys teaching, he`s in the wrong business. Or if he feels if he doesn`t save 100,000 pesos a year then he will never be able to retire.

And yes, I have had students complain about their status and workload, but not here in Mexico. I have had students gripe there is too much work in my classes, etc. etc. In one case, one student had one full time job, one pt job, and was attending school full time. Other than that the student was near genius, I don`t know how anyone can possibly do that and maintain good work at any of those three(his work was good in my class, but I suspected him capable of outstanding work). I advised him to quit his pt job, and that`s exactly what he did.

I`ve had other students complain there was too much work in the class and unless it was an "A" student, I usually disregarded the comment. Yes, I give out a lot of work, and yes, it makes it hard on me as well as I spend more time correcting work than my peers. No, I am not complaining. I am proud of the fact and am bragging.

And yes, our conduct and attitude does have a powerful affect on the students. Our enthusiasm becomes theirs, our interest, theirs, our attitude, theirs. An exciting teacher is one who is interested in the subject matter he is teaching and the students who are in his classroom.
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gregd75



Joined: 14 Mar 2007
Posts: 360
Location: Tlaquepaque, Jalisco

PostPosted: Thu Sep 09, 2010 6:52 pm    Post subject: Reply with quote

I couldn't agree more with the post above!

The point I am trying to make is that it's a natural step for teachers to develop- into co-ordinating, into teacher training, into delivering workshops, into freelancing etc.

If one continues to be just a teacher and fails to use their experience, then how can there be an expectation of more money for doing the same job (the money would just rise in line with inflation), its taking your experiences and USING then which will help people move up- both professionally and in terms of renumeration.
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Professor



Joined: 22 May 2009
Posts: 449
Location: Mexico City

PostPosted: Fri Sep 10, 2010 10:02 pm    Post subject: Reply with quote

geaaronson wrote:

He may very well enjoy teaching. I don`t see any evidence to the contrary. However, he is concerned about his savings plan.


Thank you geaaronson, I do enjoy teaching, very much. I am concerned about retirement because EFL regardless if one is teaching, teacher training, or even a coordinator, the income seems to not be stable at times.
That was the point I was trying to make and like always when someone posts something trying to get some answers that others don't like, the OP gets attacked.
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PlayadelSoul



Joined: 29 Jun 2005
Posts: 346
Location: Playa del Carmen

PostPosted: Sat Sep 11, 2010 2:41 am    Post subject: Reply with quote

I have my AFORE in a private plan, a boatload of Infonavit that I can't touch and a little money saved. When I retire, I plan on moving to either Guanajuato or San Cristobal de las Casas, opening a small coffee shop and spending my days doing a whole lot of nothing. Well, if there is any money left after paying for my kids' college tuition. If there is not money, I will work until they box me up.
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gregd75



Joined: 14 Mar 2007
Posts: 360
Location: Tlaquepaque, Jalisco

PostPosted: Sat Sep 11, 2010 3:26 am    Post subject: Reply with quote

Fair comment PROFESSOR... but, other than people with their 'plaza' can you tell me any other stable jobs, as you describe it?

My point throughout this thread is that your information makes it sound like EFL is not a career option, or it cannot support you in retirement- this is very true in many many careers here in Mexico, not only EFL.

We need to look at this in perspective to other careers.
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Daddyo



Joined: 19 Jun 2008
Posts: 89
Location: Bogota, Colombia

PostPosted: Wed Sep 15, 2010 12:18 pm    Post subject: Why retire? Reply with quote

..I'm not sure what 'retirement' means in this case. I think retirement is a word invented by people who sell financial products. The last time I checked they were telling us we needed a million bucks by age 65.

Well, thanks guys.

Consider this: Instead of retiring, why don't you just amend, adapt, and adjust, and keep going? The happiest people I know in retirement are also the busiest. They paint and draw, they renovate and remodel, they are active investors, they have paying hobbies.

I suppose for others retirement means owning a home free and clear and puttering around the garden for the rest of your life. Nice! However, that option simply may not be available to you based on what kind of financial breaks you've had in life. However, I'm very glad I didn't spend the healthiest 30 years of my life planning and saving for the last 30.

Some stay home and let assets accumulate, and some don't. And if you're in the latter category, you need to find creative solutions.

Scary maybe, but not hard. Not really...
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Enchilada Potosina



Joined: 03 Aug 2010
Posts: 344
Location: Mexico

PostPosted: Wed Sep 15, 2010 5:18 pm    Post subject: Reply with quote

I'm looking to go completely independent with both teaching and translations or into something else entirely. I don't think I can face another 30 or so years of unis and grotty language schools that just don't provide any incentive or any kind of benefits unless you're full-time, but even then... like this 3 day holiday they kindly gave us - oh but by the way, you're not getting paid these three days. Now that's worth celebrating.
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Daddyo



Joined: 19 Jun 2008
Posts: 89
Location: Bogota, Colombia

PostPosted: Wed Sep 15, 2010 5:24 pm    Post subject: Reply with quote

Enchilada Potosina wrote:
I'm looking to go completely independent with both teaching and translations or into something else entirely. I don't think I can face another 30 or so years of unis and grotty language schools that just don't provide any incentive or any kind of benefits unless you're full-time, but even then... like this 3 day holiday they kindly gave us - oh but by the way, you're not getting paid these three days. Now that's worth celebrating.


makes sense to me, I know exactly how you feel ...
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mejms



Joined: 04 Jan 2010
Posts: 390

PostPosted: Wed Sep 15, 2010 10:04 pm    Post subject: Reply with quote

Quote:
.I'm not sure what 'retirement' means in this case. I think retirement is a word invented by people who sell financial products. The last time I checked they were telling us we needed a million bucks by age 65.


I think the OP was asking if there�s really any hope of accumulating enough savings over the years from teaching EFL in Mexico to take it easy later in life without the benefits of a social secuirty check in dollars every month.

I agree with you that it requires wise investments and making your money work for you. There isn�t much long-term money here, but saving up to buy land or a home in a growing area and then selling or renting it later on... well, that�s smart. You might not be getting a social secuirty check, but $3,000 pesos a month from renting out a house helps too.


Quote:
I'm looking to go completely independent with both teaching and translations or into something else entirely. I don't think I can face another 30 or so years of unis and grotty language schools that just don't provide any incentive or any kind of benefits unless you're full-time, but even then... like this 3 day holiday they kindly gave us - oh but by the way, you're not getting paid these three days. Now that's worth celebrating.


Like I said in another post, I think working on your own if you�re good at what you do is the advantage that Mexico holds out to innovative (and well-connected) entrepreneurs. Maybe some tenure uni positions can provide a decent salary and, what more, job stability, but I woulnd�t bank on anyone but myself to make a living and get ahead here.
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Dragonlady



Joined: 10 May 2004
Posts: 720
Location: Chillinfernow, Canada

PostPosted: Sun Sep 19, 2010 2:43 am    Post subject: Reply with quote

deleted

reply unrelated to TESOL


Last edited by Dragonlady on Sun Sep 26, 2010 8:36 am; edited 1 time in total
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Tretyakovskii



Joined: 14 Aug 2009
Posts: 462
Location: Cancun, Mexico

PostPosted: Sun Sep 19, 2010 12:52 pm    Post subject: Self-employment Reply with quote

Most of my years teaching have been spent in self-employment, or owning and operating small language schools. This seems to me to be the only way to make large enough sums to be able to accumulate enough to contemplate retirement. The more hours you put in on a "job", the less hours you have to devote to the more remunerative side of teaching.

I'm working 45 hours a week now, for a salary, which leaves few free hours with anything left in me to devote to self-employment. I chose this option because money was not the main issue, at this time. The hourly rate, if I wanted to consider it, is the lowest I've earned since my very first teaching job.
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