Job Discussion Forums

[jobe3x]

I've been considering ESL teaching as career. One of the biggest questions on my mind is what happens to someone who teaches ESL for 20 years? What do most teachers end up doing for retirement?

[denise]

I am almost afraid to follow this thread because I, too, am in this crazy business for life, and I really don't want to think about how impoverished I will be in my twilight years...

d

[Gordon]

The idea is to save up enough to actually retire. However, it's easier said than done I suppose. Hopefully at the end of your career you could be a teacher trainer or curriculum developer and use your experience as best you can.

[Roger]

A frightening thought.
I do see an increasing number of retirees here in China, that have come to teach.
Some say they can't afford to be retired back in the USA.

[dmb]

Many get to certain age. Panic. Then come to the Gulf

[jobe3x]

I've seen other posts ESL teachers talk about buying houses back in the states. However, I just can't fathom a teacher being able to afford a house back on $24,000 a year. Do most of these people teach in the gulf?

Their must be some ideas out there. What are people planning to do for retirement?

I betting most can't retire back in the states because of the high cost of living. What about retiring to South America or Costa Rica?

[Dave Kessel]

I am now in the Gulf. Came out here USD 26,000 in the hole. Now, after almost six years of working here on and off and taking long breaks and travelling to all these exotic places, sending my girlfriend to college and running a mini-art studio ( Alhamdurillah) I have still been able to pay it all off and save over $53,000.

If I had been a bit stingier, I would have saved much more.

The only serious way to make money in this field is to work in the Gulf, Saudi in particular. You will work less and save more. If you still think you haven't sowed your wild oates, sow them some more and then come out here. Work 5-10 years, buy a house back home and rent it out. Then you can retire in a cheaper country- Philippines is my choice.

If you think that you cannot afford to buy a house in the US on $24,000 a year, think about the look on your banker's face when you show him your tax returns for the years you spent in Thailand making $9,000 ( !) a year.

If you do not want to travel or work abroad, get K12 qualifications/teacher's credentials and get into a school system in your country. They will provide for a retirement.

[MELEE]

I'm 31, I started teaching EFL when I was 22, long before I wanted to think about retirement. After a 1 1/2 years in Japan, I put 10,000 US in mutual funds--that was in 1998, it turns out not to have been "a very good idea" after all, but I've left it there and tried not to worry about it, its for the long term.

I didn't decide to due this "as my career" until I got the job I currently have. It's a good, full time job in Mexico with a retirement fund. I've bought land and I'm building a house. I've made a budget that will allow me to have it paid off in about 5 years. (knock on wood). I got married and am hoping that my husband will eventually run out of hire degrees to get and stop being a student and get a job, then I will be able to save more of my income. I'd like to buy a bigger piece of land. While growing up, my parents always had a vegetable garden which produced quiet a lot of our food, I learned about raising vegetables and canning (but I need a refresher course!), and now that I live in a more favorable climate I dream of producing my own food. We were given a pair of turkeys for a wedding gift (this is Oaxaca) Now, if I can just figure out how to keep the dogs from stealing the eggs....

[dduck]

I got into EFL so that I wouldn't have to retire. I don't plan on stopping.

Iain

[XXX]

You can iether hit the lotto or starve. I myself am now teaching in an urban hell hole in the US. I had my fun, now it is time to pay.

[nomadder]

To those knowledgeable about the Gulf. After Saudi what would be your next choice? What kind of money are we talking?

[Minhang Oz]

I came into EFL late, after many years of home-country "mainstream" teaching, so I'm covered with a reasonable superannuation account when its time to say "no more".
However, I believe my use by date as a teacher has been extended here in China, where teaching is comparatively stress free, and the hours can be very light if that's what you want. I could easily handle working here for another 10 years. At home, I'd be looking to retire in two or three. I'm saving as much here as I did at home: minimum USD 800 a month.
For a younger person starting out in EFL, probably money is a major consideration. For me, it's quality of life. I've got a 90 minute class coming up, and that's it for the day - I can go home. In Australia, it would take me most of the weekend to wind down, and then front up for more of the same on Monday.

[Wolf]

[once again]

Normally when I retire I like a good bottle of wine (or bad depending on finacial status) and a good movie to watch.

[dmb]

Nomadder, at my place in Qatar it is possible to save $2500 a month. teachers are given a room in shared accommodation, 3 meals a day, a car with petrol paid, no bills, no tax 4 flights a year, medical insurance, cable tv, holiday pay and end of contract bonus. so if you are stingy you can save about $40,000 a year. I, however choose to stay in my own flat, smoke cigarettes, do sport and go to the bar a couple of times a week. Without really trying to save I save about $1600 a month. Things are generally cheap here.