'You can't outearn stupidity': Dave Ramsey explains why teachers — with a median salary of $61K — become millionaires so often. And why doctors don't even crack the top 5

There is some justice for school teachers, who have the dubious distinction of playing a vital role in society while earning a comparatively low annual income.

That justice comes in the form of the millions of dollars that many of them consistently hold in their savings and investment accounts, according to the “National Study of Millionaires,” a research project by Ramsey Solutions, whose CEO is the personal-finance expert Dave Ramsey.

Teachers rank third, behind engineers and accountants, on a top-five list of careers most likely to have millionaires within their ranks. Business professionals and lawyers ranked fourth and fifth.

How could it be that teachers, who earn an average annual income of $61,000 according to the U.S. Bureau of Labor Statistics, take third spot, while physicians don’t even rank in the top five?

Please help put parents in charge of their child’s education by forwarding this article to other parents, family, friends and voters.
Money by Braňo is licensed under Unsplash unsplash.com

Other Articles

A quick guide to reading the newest California School Dashboard data
After a three-year hiatus, the California School Dashboard has been released, giving California educators and families a detailed snapshot of how the education system has been running post-pandemic.
Read More
California public school enrollment continues decline, still reeling from pandemic plunge
Enrollment at California public schools has continued to decline this academic year, without any recovery from the steep drops seen during the pandemic — although the pace of the decrease has slowed.
Read More
When culture wars rip through California school boards, should the state intervene?
Last week’s tussles between state officials and a pair of Southern California school boards may have died down, but they’ve thrown a spotlight on deeper tensions over who makes decisions for local schools — a rift that’s likely to grow as the culture wars escalate.
Read More
Attorneys Seek to Compel Calif. District to Reinstate Teachers
Attorneys for two San Diego middle school teachers who were put on administrative leave after refusing to abide by a school district policy regarding their students' gender identity are seeking to sanction the district for disobeying a court order to reinstate the teachers.
Read More
Teacher retirement benefits protection bill signed by Gov. Newsom
A bill seeking to protect the monthly benefits of retired public school teachers is set to become law after receiving approval from Gov. Gavin Newsom.
Read More
Is Scholastic letting schools exclude books on race and LGBTQ issues at its fairs?
Book fair season is here, and controversy is swirling around a new diversity collection that Scholastic is allowing schools to opt into or out of at its pop-up sale events. 
Read More
Test scores in Berkeley have rebounded faster than in most California districts
A new study shows Berkeley elementary and middle school students are actually doing better academically than before the pandemic.
Read More
California Jewish families fight for equal rights in education of disabled children
Three orthodox Jewish families in California who sued the state of California over a law that they say discriminates against religious families with disabled children are appealing a judge’s dismissal of their case.
Read More

Get latest news delivered daily!

We will send you breaking news right to your inbox

© 2025 educationopportunity.org, Privacy Policy | FPPC #1460602