Living wealthy on a $40,000 salary

Posted on January 18, 2011 by Bill Faiferlick

It seems as if we are constantly hearing how tough times are right now (for some they are). Many of you are thinking that it would be great to save money for retirement and live a wealthy life but you just don’t make enough to do so. Today’s show will focus on how to thrive financially and create wealth for you and your family even if you don’t think you make enough money. Smart and common sense solutions can create financial independence and freedom to pursue whatever you want. If you do not like your job, you will have the security to try something new. If you become bored with where you live, you can leave. The possibilities that will exist for you are endless. My guest today is Danny Kofke, a special needs teacher in Georgia. He has written a book on “How to Survive and Perhaps Thrive on a Teacher’s Salary” of $40,000. His wife stays at home with their children and they have no debt except for their house while also investing a sizeable retirement nest egg.

Guest:
Danny Kofke, Teacher, Author and Financial Educator, US

Danny Kofke has been a teacher for ten years and is currently a special education teacher in Georgia. He has taught kindergarten and first grade. Danny’s love of teaching and finances led him to write the book “How To Survive (and perhaps thrive) On A Teacher’s Salary.” Danny’s passion keeps him in the classroom but smart savings and basic understanding of financial principles have kept his wife (willingly!) at home with their children. Danny has been been featured in USA Today, The Atlanta Journal Constitution, CNN.com, AOL.com, USA Weekend, Bankrate.com, PARADE, Instructor Magazine, CBS MoneyWatch.com, FoxBusiness.com, The Wall Street Journal, ABCNews.com, Yahoo Finance, Woman’s Day, Consumer’s Digest, Bottom Line Personal, Your Family Today and The Huffington Post. He has been interviewed on radio and numerous television shows including Fox & Friends, CNN’s Newsroom, The 700 Club, ABC News Now, FOX Business Channel’s Varney & Company, HLN’s The Clark Howard Show and MSNBC Live.