So... What, exactly, are these 'nine rules' they should be teaching at school?
Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew Hallam shows you how to achieve financial independence through smart investing — without being a financial wizard.
Author Andrew Hallam was a high school English teacher. He became a debt-free millionaire by following a few simple rules. In this book, he teaches you the financial fundamentals you need to follow in his tracks.
You can spend just an hour per year on your investments, never think about the stock market's direction — and still beat most professional investors. It's not about get-rich-quick schemes or trendy investment products peddled by an ever-widening, self-serving industry; it's about your money and your future.
This new second edition of Millionaire Teacher features updated discussion on passive investing, studies on dollar cost averaging versus lump sum investing, and a detailed segment on RoboAdvisors for Americans, Canadians, Australians, Singaporeans and British investors. And then Andrew followed up with the Millionaire Expat Book for expats living overseas.
Financial literacy is rarely taught in schools. Were you shortchanged by your education system? This book is your solution, teaching you the ABCs of finance to help you build wealth.
- Gain the financial literacy to make smart investment decisions
- Learn why you should invest in index funds
- Find out how to find the right kind of financial advisor
- Avoid scams and flash-in-the-pan trends
Millionaire Teacher shows how to build a strong financial future today, you can become a millionaire on a middle-class salary.
Here's the secret that most financial advisors and Wall Street firms don't want you to know. Peer-reviewed, financial academic studies say you can beat most investment professionals with a simple strategy. It takes just an hour a year. You don't need to search for a bunch of hot stocks or winning mutual funds.
You don't need to pay attention to investment news, economic trends, or the market ups and downs. Nobel Prize winners in economics have been saying this for years. Warren Buffett echoes it. Andrew Hallam brings it all to life with Millionaire Teacher, Second Edition.
With clarity and humor, Andrew shows how any patient, middle-class income earner can build a million dollar investment portfolio. He provides a guide for Americans, Canadians, Australians, Singaporeans, and British investors. You can spend responsibly, invest effectively, and build a solid financial future. Let Millionaire Teacher, Second Edition show you how.
Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School
Rule 1: Spend Like You Want to Grow Rich
What does it really means to be ‘rich’ or ‘wealthy’, looking beyond houses and cars. This section also looks at how to buy a car as an appreciating asset (hint: buy second hand) and how to spend money to be able to contribute as much as you can to his retirement investments.
Rule 2: Use the Greatest Investment Ally You Have
Rule 2 talks extensively about the benefits of compound interest, and the power of combining compound interest with long term investing. When asking when to get into investing, this chapter brings the point home of ‘the earlier the better’.
Rule 3: Small Fees Pack Big Punches
Find out why actively managed mutual funds are bad for you! This chapter looks at how mutual fund managers aren’t any more likely than index funds to succeed, and that the fee you pay to invest in an actively managed fund immediately puts you behind when looking at growing your investment.
Rule 4: Conquer the Enemy in the Mirror
How do our natural own behaviors work against us as investors. This chapter highlights how to not get caught up in emotions and hype, and how to be calm and patient when investing in index funds. Take the emotion out of investigating s to succeed.
Rule 5: Build Mountains of Money with a Responsible Portfolio
This chapter clearly explains the difference between stocks and bonds. Learn about level of safety or risk that comes along with investing in either, and the importance of diversifying your index portfolio between different markets. It's quite simple. Just use a ratio based on your age.
Rule 6: Sample a “Round-the-World” Ticket to Indexing
Learn about specific examples of index portfolios from different countries and the variety of ways to build an index portfolio. This section provides helpful information by providing examples of specific index funds and how to start investing in them.
Rule 7: No, you don’t have to invest on your own
While it seems every financial advisor is trying to take you for a ride --or worse -- there are financial advisors who are ethical and are able to assist for a reasonable fee. Yes, really. This chapter shows you how to find them.
Rule 8: Peek Inside A Pilferer’s Playbook
Banks and financial advisors will likely try to guide you away from investing in index funds. They are often wrong and looking at their own self-interest. This chapter provides some good tips on how you can respond to a financial advisor who isn’t actively helping you in you quest into index funds.
Rule 9: Avoid Seduction
Everyone makes mistakes when investing, and that’s nothing to be ashamed about. Andrew details mistakes he’s made, and describes how easy it is to be seduced into seemingly ‘easy-money’ investments.
Praise for Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School
"Contrary to financial services industry mythology, saving and investing for your future doesn't have to be difficult. You'll learn just how easy it can be in Andrew Hallam's Millionaire Teacher, Second Edition. With nine simple rules, he gives you easy, step-by-step instructions. Follow them and you'll be on your way to a successful (and possibly early) retirement."
— Scott Burns, US Syndicated Finance Columnist
"In the second edition of Millionaire Teacher, Andrew Hallam shows how the son of a mechanic who became a high school teacher could become a financially independent millionaire by following a few simple, albeit difficult to follow, common sense rules. If more young people followed his advice, it would be a richer, more stable world."
— Michael O'Higgins, author of Beating the Dow, Beating The Dow With Bonds, O'Higgins Asset Management, Inc.
"Andrew Hallam's Millionaire Teacher, Second Edition. is full of wisdom and wit—a combination that makes the book an easy read. This is not another writer's set of opinions, this is an evidence-based project and draws on the wisdom of many Nobel Laureate winners. Their work is translated and distilled into easily understandable chapters. The basic principles espoused in the book should be required educative reading for every investor."
— Ben Sherwood, director for and on behalf of Satis Asset Management Ltd, principal, Hillier Hopkins LLP
"There are lots of books on personal finance but blessed few that discuss the topic with wit and even fewer that do so with soul. Andrew Hallam's second edition of Millionaire Teacher is to my mind the best. Read it. You'll be entertained. You'll also be richer in every sense."
— Ian McGugan, The Globe and Mail
"Andrew is a rare breed. He makes complex financial topics easy to understand for the masses, but his in-depth knowledge also ensures that even the most well-versed can learn a thing or two. Whether you're a millennial, approaching retirement, or already retired, his second edition of Millionaire Teacher is a must-read for anyone looking to take control of their finances."
— Jason Heath, CFP, Fee-Only Financial Planner, Financial Post and MoneySense columnist