Meet The School Teacher Now Making $20,000,000 | Teri Ijeoma
Added: May 29, 2024
In this podcast episode, Teri Ijeoma, a former elementary school assistant principal turned successful trader and entrepreneur, shares her inspiring journey from making $60,000 a year to achieving a net worth of $20 million in a single year. Teri discusses her humble beginnings, her passion for finance, and how she transitioned from a traditional career in education to becoming her own boss and teaching others how to achieve financial freedom.Key takeaways
Teri's journey underscores the importance of resilience and learning from mistakes. Despite significant setbacks, including a $300,000 loss in a single day, she remained focused and used these experiences as learning opportunities to improve her trading skills.
Teri attributes her success to a combination of timing, preparation, and skill set. She emphasizes the necessity of thorough research and not rushing into decisions, as illustrated by her experience with a poorly researched business deal.
Teri discusses how her financial success has affected her personal relationships, with some friends expressing jealousy or resentment. This highlights the importance of surrounding oneself with supportive and genuine people.
Teri's story demonstrates the power of setting ambitious goals. Her initial aim to make $300 a day evolved into a goal of making a million dollars a month, eventually leading her to surpass $20 million in a year.
Teri's approach to money management has evolved over time. While she no longer follows a strict budget, she acknowledges the importance of tracking spending and making wise investments, balancing modest living with occasional splurges that expand her horizons.
From humble beginnings to trading
Teri begins by discussing her upbringing in a family where money was tight, which instilled in her a strong work ethic and a desire for financial stability. She recounts her experience working as a school teacher and feeling undervalued and underpaid, which led her to explore other opportunities to increase her income. She dabbled in various side hustles, including real estate and stock trading, before making the bold decision in 2017 to leave her job and focus on trading full-time.
From $300 a Day to $20 Million
Her initial goal was to make $300 a day trading, which would allow her to replace her assistant principal income. Despite facing significant challenges, including a substantial loss of $300,000 in a single day, Teri remained she and focused on learning from her mistakes. Her hard work and dedication paid off, and by 2018, she had achieved her first million-dollar year. The following year, in 2020, with the surge in interest in investing and market volatility, her business experienced astronomical growth, with her making over $20 million that year.
Lessons in Timing and Preparation
Teri attributes her success to a combination of timing, preparation, and skill set. She emphasizes the importance of learning from mistakes and shares a personal story about a business deal where she didn't do enough due diligence and ended up losing money. This experience taught her the value of thorough research and not rushing into decisions.
Impact on Personal Relationships
The impact of Teri's success on her personal relationships is also discussed. She talks about how some friends have expressed jealousy or resentment towards her newfound wealth, and she reflects on the importance of surrounding herself with supportive and genuine people who truly care about her well-being.
Setting ambitious goals for success
When it comes to setting goals, Teri initially aimed to make a million dollars a month, which eventually led to her surpassing $20 million in a year. She now focuses on serving a specific number of students each month as a measure of success and impact. She confidently states her belief in becoming a billionaire, drawing inspiration from other successful individuals who share her background, such as Rihanna, LeBron James, and Kevin Hart. She believes that seeing people who look like her achieve such heights makes her own aspirations feel more attainable.
Teri's Evolving Money Management Approach
Teri's approach to money management has evolved over time. While she no longer follows a strict budget, she acknowledges the importance of having one to track her spending and ensure financial stability. She remains transparent about her spending habits, including investments in ventures like a private jet company, where she is a part-owner. Despite her wealth, she continues to live modestly, saving and investing her money wisely. She did splurge on a luxurious house in Puerto Rico, which cost $150,000 a month to rent, but she saw it as a valuable experience that expanded her horizons and showed her what was possible.
The Importance of Family Time
Teri also shares her perspective on the importance of family and personal time. She recalls a pivotal moment when a friend highlighted the limited amount of time she would have to spend with her family if she continued on her traditional career path. This realization motivated her to prioritize freedom and flexibility in her life.
Embrace Mistakes and Strive On
In closing, Teri leaves listeners with a powerful message about resilience and growth. She encourages others to embrace their mistakes as learning opportunities and to continue striving for success despite setbacks. She believes that anyone can achieve financial prosperity with determination and a willingness to learn.
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