I'm considering teaching abroad. However, I'd be forgoing a career in software development in the US where the salaries (but also cost of living) are much higher and we get retirement plans such as 401Ks/social security. From what I've gathered, international schools don't offer retirements plans and international school teaching is not a lucrative career: https://andrewhallam.com/2012/05/why-in ... ative-gig/
So do you still think international school teaching is worth it? And that it's not an issue to save enough money for retirement? What age range do international school teachers usually retire at?
I also read from Andrew Hallam's advice to invest in index funds from Vanguard. However, is it true that Vanguard does not allow US expat teachers to have an account with them? What if I already have an existing Vanguard account, but I'm currently in the US but could move overseas to teach very soon?
Questions about savings/retirement for IS teachers
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Thames Pirate
- Posts: 1150
- Joined: Fri Jul 05, 2013 8:06 am
Re: Questions about savings/retirement for IS teachers
The answer is "it depends." You can make good money teaching abroad--but generally not if you aren't a teacher. The good schools are unlikely to hire someone with no credential and no experience. You would end up at a low or mid tier school. Also, some schools offer benefits while others don't. The career can be lucrative--or absolutely not. There is no single answer. A teacher in Botswana and one in Denmark will give you vastly different answers! A teacher at Shanghai American School and one at Shanghai-Teachers-R-Us will give different answers--on everything from salary and benefits to working conditions to cost of living.
If you are looking at teaching as a way to get rich, keep looking. You are better off in software. If you are looking at teaching because it appeals to you for its own sake, do it. Then make good decisions about contracts you take and how you invest that money.
If you are looking at teaching as a way to get rich, keep looking. You are better off in software. If you are looking at teaching because it appeals to you for its own sake, do it. Then make good decisions about contracts you take and how you invest that money.
Re: Questions about savings/retirement for IS teachers
If you have already opened and are contributing to a Vanguard acccount, you will be fine making continued contributions from a US based bank account.
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Thames Pirate
- Posts: 1150
- Joined: Fri Jul 05, 2013 8:06 am
Re: Questions about savings/retirement for IS teachers
Technically this is true, but with a catch: You can absolutely keep your current Vanguard account. If you keep your permanent residence (own a house, for example) in the US, you can probably do it, and if you don't but you are tie dot a US account, your risk of being found out on that is very very low.
Your other alternative is an ETF (Exchange Traded Fund)--which does the same thing as an index fund. This is 100% allowed for expats as long as it's traded through a US firm. Vanguard might even do that directly; otherwise look at Charles Schwab or any other broker.
**Note that all financial advice is not legally guaranteed to be correct, but is based on my understanding and mostly that of my husband, who is the one who really knows this stuff. Please do your own research on this and don't just take my word for it!
Your other alternative is an ETF (Exchange Traded Fund)--which does the same thing as an index fund. This is 100% allowed for expats as long as it's traded through a US firm. Vanguard might even do that directly; otherwise look at Charles Schwab or any other broker.
**Note that all financial advice is not legally guaranteed to be correct, but is based on my understanding and mostly that of my husband, who is the one who really knows this stuff. Please do your own research on this and don't just take my word for it!
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snowphantom
- Posts: 19
- Joined: Wed Feb 01, 2017 4:42 am
Re: Questions about savings/retirement for IS teachers
Most (top) international schools do offer retirement plans where they generally match between 5-17% of employee contribution. This generally isn't enough to fully retire on so we usually save and invest one full salary each year (we are an experienced teaching couple with kids) in addition to this in vanguard index fund ETFs and should comfortably retire by the time I am 55 with a nest egg of 1.5 million to 2.5 million depending on rate of return and continued savings. I can't say the same for Americans/Canadians back home. I see many of my friends and relatives with very little of a nest egg saved up (CPP and social security will not pick up the slack). So yes, international teaching can be worth it from a financial perspective. We find the advantage of a relatively low cost of living combined with the fact that schools generally pay for housing to allow for a high savings rate.
We have a Vanguard account in addition to an offshore brokerage account and were able to do this as expats although you need to put in a US residence. Don't forget that capital gains are subject to tax from the US government unless they are protected in a 401K/ROTH IRA, etc.
We have a Vanguard account in addition to an offshore brokerage account and were able to do this as expats although you need to put in a US residence. Don't forget that capital gains are subject to tax from the US government unless they are protected in a 401K/ROTH IRA, etc.
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wrldtrvlr123
- Posts: 1173
- Joined: Sat Feb 06, 2010 10:59 am
- Location: Japan
Re: Questions about savings/retirement for IS teachers
In general, if you have an open pathway to an alternate and lucrative career and money/retirement quality of life is of primary importance to you, then you should not go into teaching (international or domestic).
That said, teaching internationally can offer a very nice lifestyle (travel, living overseas, living a higher quality of life then a teacher would in their home country). For me, the key is to do something you actually enjoy doing and find highly rewarding when you are not on vacation/enjoying weekends/days off.
You don't say if you have any experience with teaching and that should be the first decision. Do you actually enjoy being a teacher? As for retirement, most teachers seem to teach until they reach the usual retirement age (60's) and end up doing a combination of private arrangements, school sponsored (if they are in a really good system) and SS.
That said, teaching internationally can offer a very nice lifestyle (travel, living overseas, living a higher quality of life then a teacher would in their home country). For me, the key is to do something you actually enjoy doing and find highly rewarding when you are not on vacation/enjoying weekends/days off.
You don't say if you have any experience with teaching and that should be the first decision. Do you actually enjoy being a teacher? As for retirement, most teachers seem to teach until they reach the usual retirement age (60's) and end up doing a combination of private arrangements, school sponsored (if they are in a really good system) and SS.
Re: Questions about savings/retirement for IS teachers
Thames Pirate wrote:
> If you are looking at teaching because it appeals
> to you for its own sake, do it. Then make good decisions about contracts
> you take and how you invest that money.
Sure, teaching appeals to me. I'll have to start out at a 3rd tier since I don't currently have a license, but I hope to work at a mid-tier once I get a license and experience
So how do international school teachers invest that money? How does it compare to the 401k, social security, etc that they would receive if they stayed in the US?
Thames Pirate wrote:
> if you don't but you are tie dot a US account, your risk of being found out on that is very very low.
What's "tie dot"?
snowphantom wrote:
> Most (top) international schools do offer retirement plans where they generally match between 5-17% of employee contribution.
What about mid tiers? Do some of them offer retirement plans? Or is it only 1st tiers and elite tiers?
snowphantom wrote:
> This generally isn't enough to fully retire on so we usually save and invest one full salary each year (we are an experienced teaching couple with kids) in addition to this in vanguard index fund ETFs and should comfortably retire by the time I am 55 with a nest egg of 1.5 million to 2.5 million depending on rate of return and continued savings. .. So yes, international teaching can be worth it from a financial perspective. We find the advantage of a relatively low cost of living combined with the fact that schools generally pay for housing to allow for a high savings rate.
That's what I was looking for. That's great to hear.
wrldtrvlr123 wrote:
>money/retirement quality of life is of primary importance to you, then you should not go into teaching .. Do you actually enjoy being a teacher? As for retirement, most teachers seem to teach until they reach the usual retirement age (60's) and end up doing a combination of private arrangements, school sponsored (if they are in a really good system) and SS.
I've only taught university students before. I enjoyed it and want to live abroad, so that's why international school teaching appealed to me. I was just concerned the salaries and benefits would be too low to retire.
What do you mean by private arrangements, school sponsored?
> If you are looking at teaching because it appeals
> to you for its own sake, do it. Then make good decisions about contracts
> you take and how you invest that money.
Sure, teaching appeals to me. I'll have to start out at a 3rd tier since I don't currently have a license, but I hope to work at a mid-tier once I get a license and experience
So how do international school teachers invest that money? How does it compare to the 401k, social security, etc that they would receive if they stayed in the US?
Thames Pirate wrote:
> if you don't but you are tie dot a US account, your risk of being found out on that is very very low.
What's "tie dot"?
snowphantom wrote:
> Most (top) international schools do offer retirement plans where they generally match between 5-17% of employee contribution.
What about mid tiers? Do some of them offer retirement plans? Or is it only 1st tiers and elite tiers?
snowphantom wrote:
> This generally isn't enough to fully retire on so we usually save and invest one full salary each year (we are an experienced teaching couple with kids) in addition to this in vanguard index fund ETFs and should comfortably retire by the time I am 55 with a nest egg of 1.5 million to 2.5 million depending on rate of return and continued savings. .. So yes, international teaching can be worth it from a financial perspective. We find the advantage of a relatively low cost of living combined with the fact that schools generally pay for housing to allow for a high savings rate.
That's what I was looking for. That's great to hear.
wrldtrvlr123 wrote:
>money/retirement quality of life is of primary importance to you, then you should not go into teaching .. Do you actually enjoy being a teacher? As for retirement, most teachers seem to teach until they reach the usual retirement age (60's) and end up doing a combination of private arrangements, school sponsored (if they are in a really good system) and SS.
I've only taught university students before. I enjoyed it and want to live abroad, so that's why international school teaching appealed to me. I was just concerned the salaries and benefits would be too low to retire.
What do you mean by private arrangements, school sponsored?
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Thames Pirate
- Posts: 1150
- Joined: Fri Jul 05, 2013 8:06 am
Re: Questions about savings/retirement for IS teachers
boss14 wrote:
> Sure, teaching appeals to me. I'll have to start out at a 3rd tier since I don't
> currently have a license, but I hope to work at a mid-tier once I get a license and
> experience
Great! Welcome to the profession! You can often work your way up reasonably quickly if you are smart about it and good at it. And yes, not having a license hurts, but as you say, you are working on that. Long term you should be fine!
>
> So how do international school teachers invest that money? How does it compare to the
> 401k, social security, etc that they would receive if they stayed in the US?
Again, that depends heavily on country/region. If you are in Western Europe, for example, the pension system is pretty good compared to most places! However, the straight cash situation is a lot worse, so you have to work harder to save straight cash (and you should be saving privately). You can do it, but it isn't as easy as it is in, say, Saudi Arabia. Depending on the country and how long you are in it, you can either collect it upon retirement or cash it out and then invest it yourself. So you could end up cobbling together pensions from your home country (if you worked there first), three other countries, and private investments. A pain, but not necessarily financially a bad choice depending on the countries. Those are the types of decisions you would need to consider when looking at contracts, though. Many people say they don't want to work in Europe because they "can't save," but when I look at the pension plans here, I think that I might be better off than many people saving cash privately. So there is no clear answer! Also, investment depends heavily on your age/time horizon and willingness to take risks. Younger people can afford to be more aggressive in their investments, for example.
Honestly, I think the answer is partly that it varies far more than in the US--there are investors, savers, and spenders in the US and in IT. The safety net in the US is better than in a lot of places (if you never save a dime while making those big salaries in places with no pension plans, you are screwed), but worse than others (again, Europe). If you aren't receiving any pension, then you need to make sure you have a cash salary that would allow you to save the equivalent of your domestic school's pension plan and invest it similarly (index funds).
>
> Thames Pirate wrote:
> > if you don't but you are tie dot a US account, your risk of being found out on
> that is very very low.
>
> What's "tie dot"?
>
A phone typo--should say "tied to" ;)
> snowphantom wrote:
> > Most (top) international schools do offer retirement plans where they generally
> match between 5-17% of employee contribution.
>
> What about mid tiers? Do some of them offer retirement plans? Or is it only 1st tiers
> and elite tiers?
Depends! Again, partly on region, too.
> I've only taught university students before. I enjoyed it and want to live abroad, so
> that's why international school teaching appealed to me. I was just concerned the
> salaries and benefits would be too low to retire.
What is enough for you to retire? What lifestyle do you want?
>
> What do you mean by private arrangements, school sponsored?
Pensions from three different countries paid into by your school (school sponsored) plus your private investments (Vanguard account).
> Sure, teaching appeals to me. I'll have to start out at a 3rd tier since I don't
> currently have a license, but I hope to work at a mid-tier once I get a license and
> experience
Great! Welcome to the profession! You can often work your way up reasonably quickly if you are smart about it and good at it. And yes, not having a license hurts, but as you say, you are working on that. Long term you should be fine!
>
> So how do international school teachers invest that money? How does it compare to the
> 401k, social security, etc that they would receive if they stayed in the US?
Again, that depends heavily on country/region. If you are in Western Europe, for example, the pension system is pretty good compared to most places! However, the straight cash situation is a lot worse, so you have to work harder to save straight cash (and you should be saving privately). You can do it, but it isn't as easy as it is in, say, Saudi Arabia. Depending on the country and how long you are in it, you can either collect it upon retirement or cash it out and then invest it yourself. So you could end up cobbling together pensions from your home country (if you worked there first), three other countries, and private investments. A pain, but not necessarily financially a bad choice depending on the countries. Those are the types of decisions you would need to consider when looking at contracts, though. Many people say they don't want to work in Europe because they "can't save," but when I look at the pension plans here, I think that I might be better off than many people saving cash privately. So there is no clear answer! Also, investment depends heavily on your age/time horizon and willingness to take risks. Younger people can afford to be more aggressive in their investments, for example.
Honestly, I think the answer is partly that it varies far more than in the US--there are investors, savers, and spenders in the US and in IT. The safety net in the US is better than in a lot of places (if you never save a dime while making those big salaries in places with no pension plans, you are screwed), but worse than others (again, Europe). If you aren't receiving any pension, then you need to make sure you have a cash salary that would allow you to save the equivalent of your domestic school's pension plan and invest it similarly (index funds).
>
> Thames Pirate wrote:
> > if you don't but you are tie dot a US account, your risk of being found out on
> that is very very low.
>
> What's "tie dot"?
>
A phone typo--should say "tied to" ;)
> snowphantom wrote:
> > Most (top) international schools do offer retirement plans where they generally
> match between 5-17% of employee contribution.
>
> What about mid tiers? Do some of them offer retirement plans? Or is it only 1st tiers
> and elite tiers?
Depends! Again, partly on region, too.
> I've only taught university students before. I enjoyed it and want to live abroad, so
> that's why international school teaching appealed to me. I was just concerned the
> salaries and benefits would be too low to retire.
What is enough for you to retire? What lifestyle do you want?
>
> What do you mean by private arrangements, school sponsored?
Pensions from three different countries paid into by your school (school sponsored) plus your private investments (Vanguard account).
Re: Questions about savings/retirement for IS teachers
Thames Pirate wrote:
> Great! Welcome to the profession! You can often work your way up reasonably quickly
> if you are smart about it and good at it. And yes, not having a license hurts, but
> as you say, you are working on that. Long term you should be fine!
What do you mean by reasonably quickly if I'm smart and good at it? As in, I can get a math or physics teaching role at a mid-tier after just 1 yr. experience and teaching license. How do you become good and smart at it?
> Depending on the country and how long you are in it, you
> can either collect it upon retirement or cash it out and then invest it yourself. So
> you could end up cobbling together pensions from your home country (if you worked
> there first), three other countries, and private investments.
I was planning to spend my first year in China. Then, if I don't like China, I could move to another country elsewhere in Asia or South America
> What is enough for you to retire? What lifestyle do you want?
I don't need a very extravagant lifestyle. On the other hand, I don't want to have to keep staying frugal like a college student for too long. But it would be nice to eat out at nice restaurants at least a few times per week, travel every holiday, have no money worries, and even get my own maid. I don't need to . alot or buy super fancy electronics or furniture. I heard this lifestyle is possible on a salary at a mid-tier in China
> Great! Welcome to the profession! You can often work your way up reasonably quickly
> if you are smart about it and good at it. And yes, not having a license hurts, but
> as you say, you are working on that. Long term you should be fine!
What do you mean by reasonably quickly if I'm smart and good at it? As in, I can get a math or physics teaching role at a mid-tier after just 1 yr. experience and teaching license. How do you become good and smart at it?
> Depending on the country and how long you are in it, you
> can either collect it upon retirement or cash it out and then invest it yourself. So
> you could end up cobbling together pensions from your home country (if you worked
> there first), three other countries, and private investments.
I was planning to spend my first year in China. Then, if I don't like China, I could move to another country elsewhere in Asia or South America
> What is enough for you to retire? What lifestyle do you want?
I don't need a very extravagant lifestyle. On the other hand, I don't want to have to keep staying frugal like a college student for too long. But it would be nice to eat out at nice restaurants at least a few times per week, travel every holiday, have no money worries, and even get my own maid. I don't need to . alot or buy super fancy electronics or furniture. I heard this lifestyle is possible on a salary at a mid-tier in China
Re: Questions about savings/retirement for IS teachers
Just keep your vanguard account open and keep contributing. You'll be fine. I actually opened mine from overseas. Online. In about five minutes. You just need a US address.
As for saving and retiring, it matters far less how much you earn and far more what you do with the money. Many of my friends back home earn more, spend more, and will retire later than me with less money to play with. People who save will save on just about any (non poverty) salary, and people who don't save, won't save, even on a lush salary. So which are you?
If you're not a saver, stay home and work tech. At least you'll be contributing to social security.
As for saving and retiring, it matters far less how much you earn and far more what you do with the money. Many of my friends back home earn more, spend more, and will retire later than me with less money to play with. People who save will save on just about any (non poverty) salary, and people who don't save, won't save, even on a lush salary. So which are you?
If you're not a saver, stay home and work tech. At least you'll be contributing to social security.
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Thames Pirate
- Posts: 1150
- Joined: Fri Jul 05, 2013 8:06 am
Re: Questions about savings/retirement for IS teachers
boss14 wrote:
>
> What do you mean by reasonably quickly if I'm smart and good at it? As in, I can get
> a math or physics teaching role at a mid-tier after just 1 yr. experience and
> teaching license. How do you become good and smart at it?
Okay, honestly, you are going to have to think for yourself a bit. The answer is, of course, IT DEPENDS. Reasonably quickly can be your first international gig or working at a top school in just a few years or finding a job that works for you . . . . You get good at teaching by working on your practice, self-evaluation, taking feedback, being reflective, etc.--like anything else. You can be smart about how you apply to jobs, how you develop your career, etc. There is NO ONE ANSWER to most of the questions you are asking. I get that you are a black-and-white answer person, but there is simply no simple answer that we can give you. Be observant, take in information, and draw your own conclusions regarding your own behaviour.
>
>
> I was planning to spend my first year in China. Then, if I don't like China, I could
> move to another country elsewhere in Asia or South America
Well, contracts are typically two years, but you can find one years, particularly in China. However, as you work your way up, having one year contracts aren't great on a resume--certainly not a resume killer, but two year contracts are more common. Choose the CONTRACT that works for you.
>
> > What is enough for you to retire? What lifestyle do you want?
>
> I don't need a very extravagant lifestyle. On the other hand, I don't want to have to
> keep staying frugal like a college student for too long. But it would be nice to eat
> out at nice restaurants at least a few times per week, travel every holiday, have no
> money worries, and even get my own maid. I don't need to . alot or buy super fancy
> electronics or furniture. I heard this lifestyle is possible on a salary at a
> mid-tier in China
I guess the better question would be how you envision your retirement. You don't need a firm answer, but you do need an answer to yourself. If you want a maid, don't plan on Europe. You are the one who knows what works for you (mega-city vs. more green space, access to certain amenities or conveniences, school culture, etc.), and you are the one who knows what you will need to retire. What you re describing is an extravagant lifestyle to many. However, it is also not out of the realm of possibilities in many places and easy in others. So again, it depends.
So we can help you to a point, but it's clear you haven't done much of your own thinking about these questions or other research if you ask such open questions and try to press those of us willing to answer into specific responses. We don't know what you want out of life, what is important to you, your current financials, or even your age. We don't know about your teaching experience or ability or your marketable skills. We can only give general advice and ultimately, even if we did know all of those things, we can't make your pro-con list for you. You are going to have to settle for the information we can provide. Don't get me wrong--ask questions! That is the point of the board. Just recognise that the answers are by nature vague and that at some point, you have to take the information and run with it.
>
> What do you mean by reasonably quickly if I'm smart and good at it? As in, I can get
> a math or physics teaching role at a mid-tier after just 1 yr. experience and
> teaching license. How do you become good and smart at it?
Okay, honestly, you are going to have to think for yourself a bit. The answer is, of course, IT DEPENDS. Reasonably quickly can be your first international gig or working at a top school in just a few years or finding a job that works for you . . . . You get good at teaching by working on your practice, self-evaluation, taking feedback, being reflective, etc.--like anything else. You can be smart about how you apply to jobs, how you develop your career, etc. There is NO ONE ANSWER to most of the questions you are asking. I get that you are a black-and-white answer person, but there is simply no simple answer that we can give you. Be observant, take in information, and draw your own conclusions regarding your own behaviour.
>
>
> I was planning to spend my first year in China. Then, if I don't like China, I could
> move to another country elsewhere in Asia or South America
Well, contracts are typically two years, but you can find one years, particularly in China. However, as you work your way up, having one year contracts aren't great on a resume--certainly not a resume killer, but two year contracts are more common. Choose the CONTRACT that works for you.
>
> > What is enough for you to retire? What lifestyle do you want?
>
> I don't need a very extravagant lifestyle. On the other hand, I don't want to have to
> keep staying frugal like a college student for too long. But it would be nice to eat
> out at nice restaurants at least a few times per week, travel every holiday, have no
> money worries, and even get my own maid. I don't need to . alot or buy super fancy
> electronics or furniture. I heard this lifestyle is possible on a salary at a
> mid-tier in China
I guess the better question would be how you envision your retirement. You don't need a firm answer, but you do need an answer to yourself. If you want a maid, don't plan on Europe. You are the one who knows what works for you (mega-city vs. more green space, access to certain amenities or conveniences, school culture, etc.), and you are the one who knows what you will need to retire. What you re describing is an extravagant lifestyle to many. However, it is also not out of the realm of possibilities in many places and easy in others. So again, it depends.
So we can help you to a point, but it's clear you haven't done much of your own thinking about these questions or other research if you ask such open questions and try to press those of us willing to answer into specific responses. We don't know what you want out of life, what is important to you, your current financials, or even your age. We don't know about your teaching experience or ability or your marketable skills. We can only give general advice and ultimately, even if we did know all of those things, we can't make your pro-con list for you. You are going to have to settle for the information we can provide. Don't get me wrong--ask questions! That is the point of the board. Just recognise that the answers are by nature vague and that at some point, you have to take the information and run with it.
Response
IE can be lucrative, when you get to leadership levels you can make comparable or better comp compared to congruent levels of management in other fields. Ownership is another option, It can be done. I agree with what Andrew writes, because most of the utility in DE (outside the UK) is really easy wealth in retirement. The forum Gnome is a staunch supporter and reminder of this all the time. You are taking a salary cut to go into IE, especially at later stage DTs who have to 1) Contend with the salary cap in most of IE. 2) Reduced coin in raw salary potential (depending on region). 3) The lack of protections in IE. 4) Difficulties in trans versing career pathways.
ITs at higher levels on the comp scale have comparable or better coin to averages in various "soft" fields. On one end of the spectrum IE and edu in general is the only practical way for certain fields. Being a music or art IT is stable coin and access to materials as well as a means of practicing as art or musicians compared to working at Starbucks, because those ITs cant make any coin as musicians or artists. In ICT you are going to take a major reduction in comp moving into IE. It simply doesnt make sense unless 1) You are at the ceiling in your specialization (youre more a web designer, than a programmer) or 2) You want to go OS and its not available to you through your company.
Retirement plans differ across the tiers and in different ways depending on region. If youre in the WE (western Europe) you will have high taxes but they provide a social insurance scheme that typically includes a pension (much like social security). In other high tier ISs you find private pension programs similar to the ones you would find available in the US at a corp. In lower third tier ISs you dont get anything, and you might find some portion of your salary withheld to insure you return. In mid third tier ISs you typically find fixed bonuses (IE you get X coin). Upper third tier ISs provide a bonus in the form of a 13th month of salary or some portion of your salary. 1st tier ISs as noted above, provide some form of private pension/retirement plan. Second tier ISs are somewhere in between either offering better bonuses (in terms of value or distribution) or a private pension plan thats either matching funds (too some cap) or offer an optional pension plan thats advantageous in terms of costs and fees but the IT fully funds any contributions. Elite tier ISs provide fully funded pension programs (with low vestment requirements) as well as bonuses in some form.
This is all extremely broad, and you will find exceptions and variation at all tiers.
I believe its worth it because I value experiential opportunities or financial opportunities. I also have implemented a comprehensive retirement strategy and have minimized expenses (such as kids).
ITs generally have to be proactive in planing for retirement. It doesnt take a lot but it does take coin, and fiscal discipline. Its not like DTs who have most of their retirement planing done for them, in the background and behind the scenes. ITs have to do a lot of the work by themselves, and for most ITs (even business studies ITs) it takes some education/learning to figure out the basics. There are however a LOT of ITs that are broke or unprepared for retirement, which is why many ITs have to 1) Get into Elite tier ISs or 2) Get into the WE and can work long enough to get a pension.
You generally have to be in your nesting IS in your mid 50s unless you are in leadership. At that point your starting to see visa or policy restrictions on appointments or visas and you need to build up senior scale steps on the salary scale, from lost steps in transitioning between ISs.
As long as you have a US address you can open a US domestic Vanguard account. You are probably thinking of IRAs such as Roth IRAs that require US earned coin, which you can transition threw an owned corporate entity (takes more resources). Some ISs have formed corporate entities (such as NPO charities) so they can offer Social Security and/or IRA type investment structures (which they have usually partnered with).
If you already have a Vanguard account there is no restriction or challenge in maintaining and contributing to your account, unless your manager has instituted a restriction (which some have).
I agree with @Thames Pirate, that for you you are going to frustrated and likely laugh at the salary ISs are going to offer you. ISs want a certain level of subject competency but what they value more is your ability in knowledge transfer. There are a lot of very smart and talented individuals who cant teach themselves out of a box, and you are a very unknown quality. A credential ensures some minimum level of meds/peds/asst proficiency. There are practitioners in ICT who are gods in their fields, but transferring those abilities to children is a whole other skill and tasking set.
In general IE requires a credential and 2 years post experience in a K12/KS environment. You have no experience and no credential. Getting a credential isnt difficult. You can complete some tests, complete an application and get a credential that will make you legal. You can then likely find some lower tier ISs that will think they are really lucky to have you, but ISs typically use a salary scale (open or closed) that is based on degree and years of edu experience, and at the bottom of that scale the salaries are going to be laughable to you. The average IT salary is USD$30K, and you would get around that at an upper tier IS and as little as half that in bottom tier hardship ISs.
You would do better consulting in ICT in an OS capital city
I disagree with @Thames Pirate ETFs do the same as funds and can do more than funds in regards to diversity, but compared to no fee funds like Vanguard your ETF broker/manager is going to extract a fee, making an ETF a poor investment for most ITs. ETFs are various assets (stocks, bonds, funds, commodities, etc. that are put in a portfolio and the portfolio divided into units that are then sold as shares that can be traded like stocks. Without getting into details, the investment and retirement planing ITs are primarily interested in are going to be cheaper with a typical low/no cost index fund than an ETF indexed fund, as you will avoid/minimize costs.
ITs have different retirement plans. It takes 1) Fiscal discipline, 2) Educating yourself on foreign and OS investment options (Just about everything you could do in the US has a comparable product OS). 3) Sacrifice (in most situations its all your own coin). The biggest difference is that in the US you have more opportunities that include matching funds or DS contributions whether a 401K, a pension, an IRA, etc.. In IE you have to fully fund the investment opportunities yourself.
You could be at a 1st tier IS. In most of IE the typical contract is two years and the rule is in general you can move up a tier or over to a more desirable location with each contract. As such ITs can be in 1st tier ISs within about 6 years. The biggest challenge is in the second tier where your waiting for a vacancy to open up where you want to be.
Private arrangements are investment you make yourself.
School Sponsored are investment/retirement plans offered or mandated by the employer.
University instruction is very different from K12/KS instruction.
Yes, that lifestyle is available at a mid tier, and even a floater third tier IS (floater means a third tier IS at the top of the third tier).
Getting "smart" and "good" at teaching in IE is the art part of teaching. Take Shakespeare for example; critical ana1ysis of the play "Hamlet" from a literary standpoint is the "science" part of teaching, performing it is the "art". EPP/ITT programs, classes, books, magazines, journals, seminars, workshops, etc. are good at the science part. Experience is where you learn the "art" portion. A lot of DTs/ITs never do, some leave and go on to other paths in life. Some just muddle through their classes and their day, doing enough not to get dismissed, or quickly earn tenure.
I agree with @Sid, as Ive addressed earlier, fiscal discipline is a significant factor in IE as you have to do a lot of the work yourself and with your own coin. That being said its not all fiscal discipline, you need the coin to make it work efficiently.
ITs at higher levels on the comp scale have comparable or better coin to averages in various "soft" fields. On one end of the spectrum IE and edu in general is the only practical way for certain fields. Being a music or art IT is stable coin and access to materials as well as a means of practicing as art or musicians compared to working at Starbucks, because those ITs cant make any coin as musicians or artists. In ICT you are going to take a major reduction in comp moving into IE. It simply doesnt make sense unless 1) You are at the ceiling in your specialization (youre more a web designer, than a programmer) or 2) You want to go OS and its not available to you through your company.
Retirement plans differ across the tiers and in different ways depending on region. If youre in the WE (western Europe) you will have high taxes but they provide a social insurance scheme that typically includes a pension (much like social security). In other high tier ISs you find private pension programs similar to the ones you would find available in the US at a corp. In lower third tier ISs you dont get anything, and you might find some portion of your salary withheld to insure you return. In mid third tier ISs you typically find fixed bonuses (IE you get X coin). Upper third tier ISs provide a bonus in the form of a 13th month of salary or some portion of your salary. 1st tier ISs as noted above, provide some form of private pension/retirement plan. Second tier ISs are somewhere in between either offering better bonuses (in terms of value or distribution) or a private pension plan thats either matching funds (too some cap) or offer an optional pension plan thats advantageous in terms of costs and fees but the IT fully funds any contributions. Elite tier ISs provide fully funded pension programs (with low vestment requirements) as well as bonuses in some form.
This is all extremely broad, and you will find exceptions and variation at all tiers.
I believe its worth it because I value experiential opportunities or financial opportunities. I also have implemented a comprehensive retirement strategy and have minimized expenses (such as kids).
ITs generally have to be proactive in planing for retirement. It doesnt take a lot but it does take coin, and fiscal discipline. Its not like DTs who have most of their retirement planing done for them, in the background and behind the scenes. ITs have to do a lot of the work by themselves, and for most ITs (even business studies ITs) it takes some education/learning to figure out the basics. There are however a LOT of ITs that are broke or unprepared for retirement, which is why many ITs have to 1) Get into Elite tier ISs or 2) Get into the WE and can work long enough to get a pension.
You generally have to be in your nesting IS in your mid 50s unless you are in leadership. At that point your starting to see visa or policy restrictions on appointments or visas and you need to build up senior scale steps on the salary scale, from lost steps in transitioning between ISs.
As long as you have a US address you can open a US domestic Vanguard account. You are probably thinking of IRAs such as Roth IRAs that require US earned coin, which you can transition threw an owned corporate entity (takes more resources). Some ISs have formed corporate entities (such as NPO charities) so they can offer Social Security and/or IRA type investment structures (which they have usually partnered with).
If you already have a Vanguard account there is no restriction or challenge in maintaining and contributing to your account, unless your manager has instituted a restriction (which some have).
I agree with @Thames Pirate, that for you you are going to frustrated and likely laugh at the salary ISs are going to offer you. ISs want a certain level of subject competency but what they value more is your ability in knowledge transfer. There are a lot of very smart and talented individuals who cant teach themselves out of a box, and you are a very unknown quality. A credential ensures some minimum level of meds/peds/asst proficiency. There are practitioners in ICT who are gods in their fields, but transferring those abilities to children is a whole other skill and tasking set.
In general IE requires a credential and 2 years post experience in a K12/KS environment. You have no experience and no credential. Getting a credential isnt difficult. You can complete some tests, complete an application and get a credential that will make you legal. You can then likely find some lower tier ISs that will think they are really lucky to have you, but ISs typically use a salary scale (open or closed) that is based on degree and years of edu experience, and at the bottom of that scale the salaries are going to be laughable to you. The average IT salary is USD$30K, and you would get around that at an upper tier IS and as little as half that in bottom tier hardship ISs.
You would do better consulting in ICT in an OS capital city
I disagree with @Thames Pirate ETFs do the same as funds and can do more than funds in regards to diversity, but compared to no fee funds like Vanguard your ETF broker/manager is going to extract a fee, making an ETF a poor investment for most ITs. ETFs are various assets (stocks, bonds, funds, commodities, etc. that are put in a portfolio and the portfolio divided into units that are then sold as shares that can be traded like stocks. Without getting into details, the investment and retirement planing ITs are primarily interested in are going to be cheaper with a typical low/no cost index fund than an ETF indexed fund, as you will avoid/minimize costs.
ITs have different retirement plans. It takes 1) Fiscal discipline, 2) Educating yourself on foreign and OS investment options (Just about everything you could do in the US has a comparable product OS). 3) Sacrifice (in most situations its all your own coin). The biggest difference is that in the US you have more opportunities that include matching funds or DS contributions whether a 401K, a pension, an IRA, etc.. In IE you have to fully fund the investment opportunities yourself.
You could be at a 1st tier IS. In most of IE the typical contract is two years and the rule is in general you can move up a tier or over to a more desirable location with each contract. As such ITs can be in 1st tier ISs within about 6 years. The biggest challenge is in the second tier where your waiting for a vacancy to open up where you want to be.
Private arrangements are investment you make yourself.
School Sponsored are investment/retirement plans offered or mandated by the employer.
University instruction is very different from K12/KS instruction.
Yes, that lifestyle is available at a mid tier, and even a floater third tier IS (floater means a third tier IS at the top of the third tier).
Getting "smart" and "good" at teaching in IE is the art part of teaching. Take Shakespeare for example; critical ana1ysis of the play "Hamlet" from a literary standpoint is the "science" part of teaching, performing it is the "art". EPP/ITT programs, classes, books, magazines, journals, seminars, workshops, etc. are good at the science part. Experience is where you learn the "art" portion. A lot of DTs/ITs never do, some leave and go on to other paths in life. Some just muddle through their classes and their day, doing enough not to get dismissed, or quickly earn tenure.
I agree with @Sid, as Ive addressed earlier, fiscal discipline is a significant factor in IE as you have to do a lot of the work yourself and with your own coin. That being said its not all fiscal discipline, you need the coin to make it work efficiently.