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How to Become a Millionaire on a Teacher’s Salary in Ghana

Millionaire on a Teacher's Salary

The latest comments on teachers by President Nana telling teachers that they should not expect to be millionaires as educators is rather unfortunate however, we challenge teachers not to wear themselves down nor allow this negative comment to derail their efforts, rather see this as an opportunity to become financially independent and free from government’s insensitivity to the needs of teachers. There is every opportunity to become a millionaire on a Teacher’s salary.

Probably you are thinking as to How can someone become a millionaire on a teacher’s salary? It sounds impossible. But the truth is it is highly possible than you think.

It is, first of all, a mindset, secondly, systems put in place to make the teacher remain poor while contributing to the moral, social, and human improvement and economic development of this nation. Systems put in place to play critical roles in ensuring the hard-working educator remains an average income earner so much so that even the students in the classrooms do not have the quest to be teachers in this country.

Want to be financially independent and prepare to become a millionaire as a teacher? Join our WhatsApp lets team up and make it a reality – WHATSAPP

Every Ghanaian teacher has the potential and equal chance of becoming a Millionaire on a Teacher’s Salary.

The president, while making the statement, also said indicated that teachers need to do some other things if they intend to become millionaires. Thus, they need other sources of income to prepare for the millionaire dream. Let us take advantage of their statement and innovate new but unchartered paths to become educators who are millionaires.

Teacher unions are part of the reasons why Ghanaian teachers will be prevented from becoming millionaires.

The question is, is are teacher unions ready to initiate strategic plans of making teachers millionaires?

The answer is a big no, at best they keep teachers unsatisfied with negotiations for better conditions of service. Teachers educate all the nation’s manpower including the politicians yet they struggle even with teacher unions being their voices to remain relevant and not mere pushovers at the negotiation table.

The teacher unions are supposed to be independent but they are sometimes influenced by the government. If our teacher unions will come together and form a strong force that regulates the supply of teachers to schools so that, the government comes to them to negotiate for the number of teachers needed in public schools, then the teacher unions which would have become an industrial union and a professional body like the accountants have in the form of ICA will be able to determine how much teachers should be paid. In case the government is not ready to pay the rate quoted by the teachers’ industrial union, the government does not get the needed numbers.

This will also ensure teacher supply is regulated so that we do not have supply exceeding supply as is the case now. The current situation creates a sad outlook. There are more teachers constantly waiting for posting than the government needs. Due to this, we are in the consumers market and the employer who consumes the services of teachers is therefore at liberty to determine how much they pay teachers no matter the efforts of trade unions or teacher unions when it comes to the negotiation of conditions of service and others in the collective bargaining agreement.

Again, why should teachers expect the government to pay them allowances while in school, and then when they graduate, they expect to be paid huge sums of money as monthly salary? This will not happen. Once the government is providing you these freebies, it is also manipulating and weakening your bargaining power and independence. In plain language, you may become a modernized slave waiting for the government to post you.

Can you imagine the salaries teachers in this country will receive if the professional certification of teachers is done by the teacher unions if they had become institutes like the Institute of Chartered Accountants and bankers do? They regulate the supply of qualified bankers and accountants and thereby creating some level of supply shortage. They determine the minimum salaries and benefits that should go to chartered members and persons seeking the services of these professionals know their average income and benefits for the services they render. The professional licensure examination of teachers and their powers and benefits after becoming professionals cannot match that of ICA and ICB. In fact, the government is the one organizing it so you cannot determine how much you should be paid and your bargaining power is weakened.

Become a Millionaire on a Teacher’s Salary, overcome the systems that keep you poor

Teachers as millionaires is possible but how can you become a Millionaire on a Teacher’s Salary when all the tides are against you? If teachers in Ghana want to become millionaires with the current state of the mindset of the leadership of this country, the unions, and the teacher himself or herself, then it will not happen.

We need leadership right from schools to unions, the Ghana Education Service, the Ministry of Education, and the first gentleman of the land if the current story of the Ghanaian teacher will ever become better.

If the enabling environment is created for teachers, and the peanuts as salary with near-zero increments are reconsidered, should our leaders put in place strategic plans to make at least 50,000 teachers millionaire in the next 15 years then the narrative will change.

Our teachers would have themselves to blame if they decide to remain in the teaching profession all their lives in the name of passion. There is the need for teachers themselves to have their short- and long-term goals well thought of, they must not lack the initiative to innovate.

You just wonder why teachers teaching the same subjects with vast experience cannot team up and write approved textbooks or handbooks on the subjects and get them published to educate and make extra income. At best the individuality mentality sets in and such initiatives die too early.

Why is it that teachers cannot team up and establish private schools where parents pay good money as fees and once the teaching standard and the results of students are at their best parents will flood the school with their wards?

Doctors and other health workers are doing it today, they have their own private clinics and sometimes transfer patients to such facilities for better care and so having teachers as millionaires will require educators to begin to be innovative.

Teachers to can become Millionaires on a Teacher’s Salary. The over-dependence on a government that feels you do not deserve to become a millionaire must stop.

At worse, teachers in pre-tertiary must upgrade themselves and move to the tertiary level after not more than 12 years of graduating from college. As a lecturer in a tertiary institution, you will be better off compared to being a teacher at the pre-tertiary. There is so much teachers can do to prove President Nana Addo and the politicians wrong.

Today in Ghana, there is an insurance company that has the ambition to make 50,000 Ghanaians millionaires in the next ten years. The question is how many teachers are aware? The teacher unions can support teachers to become millionaires just because of their members. It is possible to make 1 teacher a millionaire out of every twenty in the next 5 to 10 years. Ask us how is that possible and we shall open up on this opportunity which is already giving Ghanaians who have bought insurance policies from the company the needed financial freedom.

Want to be financially independent and prepare to become a millionaire as a teacher? Join our WhatsApp lets team up and make it a reality – WHATSAPP

READ: Education and locked-up opportunities, the Ghanaian Youth Wahala

It is time to act. Teachers in Ghana can become millionaires even on their current income, whether the government likes it or not. Let us change the narrative and take concrete steps to ensure teachers who are millionaires are produced in Ghana.




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