Millionaire Teacher

Millionaire Teacher

The Nine Rules of Wealth You Should Have Learned in School

Book - 2011
Average Rating:
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The incredible story of how a schoolteacher built a million-dollar portfolio, and how you can too

Most people wouldn't expect a schoolteacher to amass a million-dollar investment account. But Andrew Hallam did so, long before the typical retirement age. And now, with Millionaire Teacher , he wants to show you how to follow in his footsteps. With lively humor and the simple clarity you'd expect from a gifted educator, Hallam demonstrates how average people can build wealth in the stock market by shunning the investment products peddled by most financial advisors and avoiding the get-rich-quicker products concocted by an ever widening, self-serving industry.

Using low cost index funds, coupled with a philosophy in line with the one that made Warren Buffett a multi-billionaire, Hallam guides readers to understand how the stock and bond markets really work, arming you with a psychological advantage for when markets fall.

Shows why young investors should hope for stock market crashes if they want to get rich Explains how you can spend just 60 minutes a year on your investments, never open a financial paper, avoid investment news, and still leave most professional investors in the dust Promotes a unique new investment methodology that combines low cost index funds and a Warren Buffett-esque investment philosophy

Millionaire Teacher explains how any middle-income individual can learn can learn the ABCs of personal finance and become a multi-millionaire, from a schoolteacher who has been there and done that.

Publisher: Singapore : J. Wiley & Sons (Asia), 2011
ISBN: 9780470830062
0470830069
Branch Call Number: 332.02401 HAL
Characteristics: xxi, 184 p. : ill. ; 23 cm.

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b
britprincess1ajax
Apr 02, 2017

There aren't nine rules here; that is a fluffed-up exaggeration. However, it is a personal finance fundamental curriculum without question, which is what I believe Hallam had set out to do with MILLIONAIRE TEACHER. I value the advice in the earlier chapters, especially on bond indexes and stock indexes, as well as dollar-cost averaging, the power of falling markets, and advice regarding cars. Unfortunately, the further you venture into the page count, the greater the chance that Hallam will be repeating himself. To conceal some of the redundancy, he envelopes it in an anecdote or nine. Regardless, for a book about personal finance, I found the writing style flowed nicely and never got caught up in the dryness of the subject matter. I would definitely recommend this book for everyone to read at least once, starting in their teens or younger. In fact, it's a good idea to have this book as reference material in your home.

d
dch930
Mar 08, 2016

I learned not to be afraid of rebalancing my portfolio through selling funds. Before reading the book, I did not see the value in rebalancing other than through cash flow.

h
HandyFellow
Jun 02, 2015

Indexing has worked for a vast majority of investors, because it removes the two main obstacles that most people face; greed and fear. A majority of people cannot achieve adequate diversification of risk without indexing, and this book illustrates why. Combine this book with Gordon Pape's TFSA strategies book, and you have a potentially powerful long term paper wealth generating system for Canadian investors.

v
vaidybala
Dec 29, 2014

The approach with results is a good show piece to follow. Many feel this is not challenging like risk taking growth and momentum style of investing. Ultimately what is the NAV that counts and here it is. Why not follow the inexpensive advice?

mmg2681 Nov 11, 2013

I will save you a lot of time on reading this book: He suggests index funds and lots of them! The rest is just fluff to prove his point. Very dry - not fun to read at all (except for the first 2 rules).

j
jendee
Nov 11, 2012

I only had a basic understanding of the 'investment world' prior to reading this book. I found it extremely helpful and learned a great deal. If you have little to no knowledge about investing then this book is for you as Hallam explains concepts without financial jargon. I think everyone should read this book!

v
vplbibliophile
Jun 29, 2012

Save yourself the reading time (and take yourself off the 'hold' list). In a nutshell, Andrew Hallam's 'secret' bullet is to buy index funds and save yourself expensive MERs/fees. There's not much else in this book. I read it all the way to the end, as I was anticipating more from this author, but it was painfully redundant.

Also, I don't usually leave comments but I wanted to save people the time. If you want to learn more about investing, etc. subscribe to the Canadian Moneysaver - it's been around forever and gives some good information on all things financial without glossing it up with advertising. Also, Millionaire Journey (just Google it) has some good topics.

e
ermi711
Mar 12, 2012

Take his advice with a grain of salt. Do your own due diligence before investing. Some of his advice is just plainly wrong. For example, he suggests not to invest in precious metals. The fact is precious metals have outperformed the stock market consistently since 2000 and will continue to do so for many years to come.

d
dirtbag1
Mar 09, 2012

Some really good basic information. This book concentrates on how and why people should buy generic funds as opposed the more expensive salesman/commission high fee brands. Good advice except what he doesn't touch on is that it doesn't matter whether a fund is a mutual fund or an stock market index fund, if the fund tanks your money is gone. No recourse. Gold which he doesn't like will hold value despite what the markets are doing. If you are thinking of finding a financial adivsor, read this book first. It will save your money from a predatory industry.

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