What Might Actually Cost Less After Teaching?

I’ve been driving approximately 30 miles round trip to school for years. It’s just part of my routine, and most mornings I don’t give it a second thought.

But when I retire next May, that daily drive will no longer be necessary. Over 180 school days, that’s roughly 5,400 miles I won’t have to put on my vehicle just to get to work.

Of course, knowing me, I’ll probably find plenty of other reasons to be out driving. Still, it got me thinking about the other expenses that have become such a normal part of teaching that I hardly notice them anymore.

How much does it actually cost us to go to work?

Think about the money you spend simply because you’re working five days a week. There’s the daily commute, the occasional lunch purchased at school, professional clothing, and all those little things we pick up for our classrooms.

I spend money on lunches and occasional classroom supplies myself. Most educators have probably purchased more classroom materials out of their own pockets than they’d care to calculate. Those purchases may have been worthwhile, but they still cost money.

And it’s not just the larger purchases. A drink on the way to work, a quick meal after a long day, or something extra for a classroom activity might not seem like much at the time. Over the course of a school year, however, those expenses can add up.

Retirement won’t necessarily eliminate all those costs, but some may disappear while others become optional. And having a little more control over those choices could make a difference.

One thing I’m looking forward to is having more flexibility with my schedule. We’ve talked before about traveling outside the usual school breaks, but that freedom can also come with financial benefits. Choosing less expensive travel dates or taking advantage of off-season rates may help stretch a retirement budget.

Even our everyday routines might change. Preparing lunch at home, running errands when it’s convenient, or simply not needing certain things for work could mean spending less without really feeling like we’re giving anything up.

But I’m also trying to be realistic.

I plan to continue working after retiring from education, and depending on the job I choose, I may still have a commute, buy meals away from home, or face other work-related expenses. Some of what I save by leaving teaching could simply be spent somewhere else.

And let’s face it, having more free time doesn’t guarantee we’ll spend less. Hobbies, travel, and other activities can easily replace some of those old expenses.

That’s not necessarily a bad thing. Enjoying the years after teaching is part of the reason we’re looking forward to retirement in the first place.

Here’s something worth trying, whether you’re retiring this year or still several years away.

Take a look at what you’re currently spending because you’re working. Think about your commute, lunches, professional clothing, classroom supplies, and anything else directly connected to your job.

For example, if you spend $25 a week buying lunch during a 40-week school year, that’s approximately $1,000 annually. Preparing lunch at home wouldn’t eliminate your food costs, but it could certainly reduce what you’re spending.

And while you’re looking at those numbers, don’t forget about the deductions coming out of your paycheck. They’re not quite the same as everyday expenses, but they matter when comparing your current earnings with your future retirement income.

In Missouri, I currently contribute 14.5% of my covered salary to PSRS. Once I retire, I won’t be making those contributions from my teaching paycheck anymore. That’s a significant deduction I won’t need to account for in the same way. Other educators may have similar contributions that will end or change when they retire.

Of course, some expenses may move in the opposite direction. Health insurance is a big one for many retiring educators, and travel, hobbies, or another job may bring additional costs.

That’s why I think it’s worth looking beyond the difference between your current salary and your future pension. Some expenses may disappear, some deductions may end, and other costs may take their place.

The encouraging part is that retirement might not cost as much as we initially expect. We just need to take the time to figure out what will actually change.

1. Find the hidden costs of teaching. Look at commuting, lunches, classroom supplies, and other work-related purchases. Track them for a month or review a full school year’s spending to get a better idea of what they cost.

2. Look beyond your salary. Pension contributions and other payroll deductions may end or change when you retire. Comparing take-home pay with projected retirement income can give you a more realistic picture than comparing gross amounts.

3. Consider what might replace those expenses. Continuing to work, traveling more, or enjoying new activities may offset some of your savings. Health insurance is another important expense to examine.

4. Put together a retirement version of your budget. The Consumer Financial Protection Bureau offers free budgeting resources to help you look at your spending and prepare for changes.

I doubt I’ll miss spending money on classroom supplies or filling up my gas tank just to drive to school. It’ll be interesting to see what those little changes actually add up to.