Job Discussion Forums

Trebek · Joined: 30 Oct 2003 Posts: 401 Location: China

I'm 47 taught public school in my home state of Texas for 10 years, moved to Utah 4 years ago and put a little money in that states retirement system. Since Texas teachers pay no Social Security, I have very little retirement coming.

My life here (now that my kids are grown) is boring. I don't care to spend 10 more years going through the motions just for a better retirement. Teaching 30 class hours and 15 non-contact hours with 37 kids per class has my blood pressure going crazy. I've gained 40 lbs since I moved here, (yet I still look good). I'm too tired to exercise which is needed for a guy my age. I don't know if I can live for 10 more years like this.

So time to throw caution to the wind and work a low hour/low paying Uni job in China. It certainly won't be boring, I'll probably get much more exercise, and I can learn new things. I'll worry about retirement some other day, for now, I just want to live.

My point is: To some of us the PRESENT quality of life supersedes worrying about the future. Hell, any old man can buy an old RV and live cheaply in a RV park in this country, hopefully close to the border, where one can afford to see the doctor when needed.

markcmc · Joined: 18 Jan 2010 Posts: 262 Location: Taiwan

I still enjoy teaching, even after more than 20 years in TEFL. If I'm in a lobster pot - and perhaps I am - then it's no more than any other job holder I've met. Most jobs (TEFL or not) have poor security, and many have low pay. I don't see any security in our world, and I think chasing it is chasing an illusion.

Relying only on pensions & investments is just as risky as planning to stay in a TEFL job until you are 70+. If you really want to escape the lobster pot by finding another job, you are just jumping into another lobster pot. Perhaps bigger or prettier, but still a trap.

Lack of freedom is one of the problems of having any job. The antidote is money. As I'm not going to make it as a rap star, hot actor or top football player, I plan to continue setting up businesses. I guess that this is my retirement plan. I've had a few TEFL related businesses and plan more in the future - not only TEFL related.

Oriented · Joined: 27 Apr 2011 Posts: 29 Location: China

markcmc makes a good point. Job security isn't what it was, certainly not in the US, with even hospital staff, police, fire fighters and (yes) teachers being laid off in large numbers. So an ESL teacher may not be any worse off than they'd be at home.

I guess the only real difference is, the people who pursued "safe" careers at home can at least tell themselves (and family, friends and colleagues) they did everything "right" and their circumstances aren't their fault.

Trebek · Joined: 30 Oct 2003 Posts: 401 Location: China

Good points, I'm giving up a decent income to teach ESL in a Uni, and taking a 5x paycut just to do it, but after taxes and increased prices at home, I will still make out the same by the end of the month (minus the little amount I pay into retirement).

I just want a job with half the contact hours, and one that allows for a more interesting (maybe not better?) lifestyle.

Living in China, hopefully picking up the language, learning new things about an amazing place, is what it should be about. Not watching the clock slowly tick each day until your old enough to retire.

posh · Joined: 22 Oct 2010 Posts: 430

Just walking out of the door in China is interesting. I lived there for 2 years and it seemed like 2 months. Everyday was different.

And after all, as nobody is going to heaven, you might as well make the most of it!

http://www.guardian.co.uk/science/2011/may/15/stephen-hawking-interview-there-is-no-heaven

Perilla · Joined: 09 Jul 2010 Posts: 792 Location: Hong Kong

Trebek · Joined: 30 Oct 2003 Posts: 401 Location: China

Yeah, I agree Perilla, best not to leave too early, but it's tough to know how early is too early? I do have the luxury to return to my job here in the US after one year in China.

I think the best time to go is when you've had enough. I'm pretty sure that I have had enough of the US public education system for a while.

Perilla · Joined: 09 Jul 2010 Posts: 792 Location: Hong Kong

pandaman · Joined: 01 Apr 2009 Posts: 2

Let's pretend living costs stayed the same indefinitely.

In an Asian country, you can live relatively cheap, whereas living off a pension in the West is very expensive.

Retirement does not worry me one bit, just save as normal, you will always get by, even with private teaching.

Besides, by that time maybe you will have children paying your way Very Happy

PC Parrot · Posted: Sat May 28, 2011 2:42 am Post subject:

Shimokitazawa · Joined: 16 Aug 2009 Posts: 458 Location: Saigon, Vietnam

dmocha · Joined: 06 Mar 2010 Posts: 30

[/quote]
My initial concern with this is that the interest you're paying on your mortgages would be higher than any tax advantages. People should pay off their mortgages as quickly as they can. Owing the bank money on a mortgage is very expensive.[/quote]

Perhaps you're missing the main point: the tenants are paying the mortgage(s), not you personally. You need to have multiple properties. Paying off your own personal mortgage is not unlike stuffing your matress with your life savings. Money has to work for you. You don't work for money. When you are old and gray it may make sense to live in one paid up place. Make it a duplex or triplex so you still have tenants giving you income streams.

A wage slave is just that...