Can a teacher give up her lucrative side hustle?

[Anonymous]

Anonymous wrote:Serious question...my mother was a teacher, and she spent nights grading papers or doing lesson plans. How do you do the side tutoring during weeknights? Do you not need to do prep for the school day?[/quote

I’m not op but am a fellow teacher, more than 30 years in. I tell all of my younger colleagues that their nights and weekends are their own and to focus on something non school focused. I used to be like your mother and faced significant burnout feelings. When teachers practice self care and only work their contracted hours, burnout is lower and teachers have a healthier relationship with their work. I will work my a$$ off at work for my students but once the bell rings, the time is my own.

My only advice to op is to make sure you aren’t burning your self out. Working 65 hour weeks may not be sustainable long term.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some background:

I'm a 33 year old single teacher in NOVA. I am trying to see if I can stop working at my fairly lucrative hide hustle and just rely on my school salary.

I currently make around $83,000 from my NOVA school district and after taxes take home another $50,000 from my side hustle of tutoring. I really like the side hustle's money, but am SO tired from the nights and weekends. Does DCUM fam think I have enough saved up so I don't have to keep my side hustle or can slow down?

Finances:


Cash: $30,000

Taxable Brokerage: $185,000

403b: $126,000

457: $63,000

Roth IRA: $90,000

My home is worth about $615,000 and I owe about $450,000 on it.

I currently max out my 403b, Roth IRA, and contribute $2,000 a month to my taxable brokerage account.

Future Plans


Not really into getting married but may become a Single Mom by Choice one day.

I plan on staying with my district and will get a pension paying about 70% of my salary when I retire in my mid 50s.

Does DCUM think I can pull the trigger and stop tutoring?

Is this for real? Those pension numbers are SIGNIFICANTLY more generous than MoCo counterparts.

NP. Start your own thread and don't hijack OP's. Sheesh.

It's not a hijack. It's questioning the authenticity of the post when the numbers are nonsensical

OP here. All of the personal financial numbers are accurate. I am pretty sure that the pension is accurate but it may be closer to 65 percent instead of 70 percent.

I'll take you at your word. Can you share what jurisdiction? The best a MoCo teacher hired in the last 15 years or so will do is about 45% with 30 years of service.

Dude, start your own thread about MoCo vs Fairfax retirement plans. You clearly made a different decision in life about where to teach and you are questioning the veracity of something that does not impact you at all. Comparison is the thief of joy.

For the OP, along with raising your rates, which should naturally diminish the number of students (thereby reducing your hours), you should be taking the free cash flow and plowing it into the market now. This is the best time to buy since the market is low. What you want to start thinking about is having your nest egg produce passive returns for you so when you exit teaching, you still have income coming in. You can do that with the stock market or buying into real estate. Not sure what your living situation is and if you are comfortable with it but maybe airbnb a spare bedroom to generate some extra income as well. The way I see it, in your job and side hustle, you are trading time for money. You should start thinking about making money where it doesn't involve an investment of time.

You are clearly savvy and hard working. I salute you and wish you good luck in your endeavors!

[Anonymous]

What is your gap number, OP if you stopped tutoring?

[Anonymous]

No advice but good luck! You clearly work hard and I think can scale back a bit.

[Anonymous]

No advice, but I'm surprised you have the energy to teach full time and also work so many additional nights and weekends. I can see why you'd want to cut down. Good luck to you!

[Anonymous]

I'd give up the teaching job and increase the side hustle.

[Anonymous]

I don’t think you can give up the tutoring and keep saving at the same amount.

You are putting $50k away a year in investments ($20,500 403b (only opp to be pre-tax) + $6000 roth ira + $24,000 brokerage).
Your mortgage at a conservative rate without property tax is another $25k annually
That gives you ~$25 after you pay income taxes for heat/water/sewer, tv/internet/phone, food, maintain a car, other savings, travel, pay for any debt (student loans?)

[Anonymous]

Agree w PPs, cut tutoring, but pick and choose clients, and raise your rates. There is a serious teacher shortage, and you will be in demand, esp w/SPED students.

Adding a child to the mix will diminish your money, time, and energy (likely in that order).

[Anonymous]

May also want to consider bartering with some clients: house cleaning (huge shortage of ESOL teachers), meals, yard service, etc.

[Anonymous]

If you think you want to be a single mother by choice, do what you must to keep your sanity, but hoard money now to pay for both the fertility treatments and expenses of having the baby and all the costs associated with raising the child. You will be using a checkbook to do things that others do with a partner.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:also, OP .. can you share what your tutoring business is? How are you bringing in so much money?

as a teacher myself I do not believe that number. Something is off here in many ways. Not going to bother to poke holes in this, but anyone who is teacher in moco can figure it out.

either a Troll or got the money from someone.

And this person pops up here every 6 months or so and asks same exact question. Same numbers appeared last time

[Anonymous]

Outsource - hire a few friends to take over some of the clients you currently have and take a cut of their income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why not cut tutoring hours?

+1 I'd cut tutoring hours by 50% and see how that feels mentally and financially.

Cut turning hours by 50% and increase your rate. You might end up getting the same with less work. If you are good, people would pay.

[Anonymous]

Anonymous wrote:Troll

+1. Why won’t she share the district? It’s not PII.

It’s because she doesn’t want us fact-checking her.

[Anonymous]

Sick troll get a life