Hi there,
I was in a similar boat as you. My background: American, taught in SK from 2013-2018. Had a non education-related BA+TEFL, was stuck in EPIK and wanted a uni job or something better around my 3rd year. I also married a Korean woman - and I can tell you, despite all the crazy stuff happening in America, I'm glad to be back here (for now). I started a distance (but accredited) Master's program that had a teaching certification tacked on to it my 4th year, it was 45 credit hours. I started it in SK to save money and use the desk-warming time to get a lot of coursework done. I returned to America with my wife to spend the next year doing my student teaching in an American public school. I secured a full-time teaching job in a good public school in the suburbs and I'm about to begin my 2nd year there.

Truth be told, EPIK is really a job that should only be done a few years at most, and for single, young people. Getting married really makes you realize the glass ceiling in that job. Uni jobs are extremely competitive, downright cutthroat. I wanted to get a uni job initially, but the International School system is far more robust and has more opportunities. You could even get into administration... if you teach at uni, you're most likely going to be teaching freshmen English for ~2.5 million won and nothing else. Lots of free time to pursue side hustles, however, especially with that F visa.

Grad school was extremely expensive, time-consuming, and stressful. But, getting through that crucible, I can tell you with a graduate degree and a teaching license, there are so many more opportunities for me. I never have to worry about a job because there is a dire shortage of teachers in America, and I've even pursued further teaching licenses just to give myself more hats to wear. That being said...

My advice would be to get the most out of your investment. Is it worth it to get a Masters just to teach uni ESL for a few years? I'd say no. If I were to do this all over again, I'd have done TeacherReady/Teachnow to get a license, teach a few years, then pursue a Master's in something that grants more utility (educational leadership/counseling/instructional technology). That way, I could teach but still get paid at the graduate level, but have the option to do other things outside of the classroom if I so desired. Right now, I'm just sitting on a Master's in Teaching, which while useful, locks me completely in the classroom. I'd have to pursue further credentials to open more doors.

My wife is getting a teaching credential in Secondary Math, and we are keeping the option open to go back abroad once we get more experience.

I suggest you try something like that - flexibility is key.

Hope this helps.

Thank you all for the replies. I'll check out that Hallam book and definitely research more about IRAs and mutual funds/ETFs for Charles Schwab (I've heard great things about them from other coworkers.) Honestly the most financially frustrating things about working in America are having to deal with a car (insurance, maintenance, gas upkeep) and dealing with your own housing (rent or mortgage are both rough on an educator's salary). Don't get me started on health insurance - Korea spoiled me. My state in particular is facing an issue with large class sizes due to a shortage of teachers - though I think this is becoming a problem on a national level. I'm saving a little bit each month, but if something were to happen to my car, that's it. Or God forbid a Medical emergency. It's tough here, but living here is forcing me to be extremely frugal, so there's that. I plan on staying here a few more years before making a major decision about going abroad again. In the meantime, I'll keep researching and educating myself about this stuff.

Hello,
I am currently teaching in a public school here in America. My state offers a retirement system for teachers, and in addition my district offers 403(b)s. There is also the option of course to use ROTH IRAs. The real challenge is that the cost of living in America is really, really high, making it really hard to put savings away, especially on teacher salaries. I used to work in South Korea with EPIK and while my paycheck was modest, I found it much easier to save money each month.

I was wondering what retirement systems or plans international educators use, especially for long-term? I guess if you were at a school that didn’t offer any formal retirement, you could use a Roth IRA. Just trying to figure all of this out and increase my financial literacy every day. Thank you!