AZ is a state where you can collect both state retirement and Social Security. So, teachers pay another 6.2% for that. Then you have Federal and State taxes, and the deductions for health care insurance. Many teachers also have to pay out of pocket for supplies for the classrooms.
My neighbor makes 38k with 10 years experience (No masters). My sister makes 49k with a masters. My wife topped at 42k with a masters before she quit. When you are working on salaries like that there is not much for additional personal savings.
It's no wonder there is a teacher shortage in Arizona.