Working in the field of academe has become tough for many. Even before the pandemic, it had been difficult to secure a tenured position, while the investment needed is high. You need postgraduate degrees and some published researches to get even a part-time teaching position in a good university.
Teachers in the basic education levels might have more stable opportunities, but the pay is rarely good. Sure, it could get you and your family by. But if you dream of a comfortable retirement plan, a teacher’s pay is hardly enough. While you are still at your prime, you could already think of a financial strategy for your retirement. You could, at the very least, consult with an advisory firm to help you manage your finances.
We also have here some ideas of small businesses educators would have expertise on. If you start them now, you could depend on it for passive income once you retire from your teaching post.
Tutorial Center
Parents could be very competitive about their children. It is not enough that the child gets passing marks. The aim is always to be the best. Many tutorial centers bank on this mentality. However, you could opt to deviate. Offer, instead, holistic academic experience to the children. While they are learning their numbers and letters in school, why not offer complimentary life skills?
There are already tutorial centers that have adopted Eastern philosophies in their approach to education. They teach children how to meditate, how to practice a life of gratitude, how to do mindful living. As an educator, you would know the best methods in cultivating among the children the values they need to have to face challenges in the future. Since it is not yet offered widely to children, you could find a niche in this field.
It doesn’t mean you wouldn’t be offering the basic subjects in your center. You could still hold the regular tutorial sessions, but offer them something else at the same time. It would set you apart from the other tutorial centers.
Review Center
Truth be told, many university students slack off in classes and just cram when they need to do their licensure exams. This makes review centers essential now.
It is a challenge, however, to establish yourself when there are so many universities offering review sessions as well. Start by focusing on two or three potential students who could make the tops of the exams. Their success could make a name for your center. Once you are known, that’s when you could expand. Get enough people to give appropriate attention to the number of your clientele.
Reviewers often bank on their short term memory to pass professional exams. Help them tap their long-term memory when they review. This will not only improve their performance in the exam but will also contribute to the efficiency and competence of professional workers.
Consultancy Firm
Even beyond retirement, experts in the field are still sought after. In fact, the retired ones are preferred as they are assumed to have a lengthy experience in their field. Plus they don’t have the problem of being tied up to strict schedules. But you don’t need to wait for your retirement to start a consultancy group.
Of course, you need to check your employer if this is allowed. Usually, universities allow their professors to undertake individual researches and consultancies. The prestige of a professor adds to the prestige of the university.
While it is tempting for a consultancy group to cater to different fields, it is not the most viable option. You will be competing with other firms more specialized. Pick your field, and diversify your group with complementary fields. For example, if your expertise is in economics, you could get someone from the field of communications to make sure that your content could be translated into a language beyond the jargon of economists. You don’t have to hire them as full-time staff. You just need a pool of experts who you could tap on whenever a project comes up.
It’s tough to be an educator in a world where the corporate scene in the spotlight. But it is a vocation of some sort. Not everyone has the patience nor the tenacity to teach the younger generation. While this field is yet to be recognized properly and given its proper financial compensation, there are options you could take to remedy this aspect. Despite not being among the top-paying jobs, what profession enjoys semester breaks and long summer vacations?
