Millionaire Teacher

Millionaire Teacher

The Nine Rules of Wealth You Should Have Learned in School

Book - 2017 | Second edition.
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"Adopt the investment strategy that turned a school teacher into a millionaire Millionaire Teacher 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 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."--
Publisher: Hoboken, New Jersey : Wiley, [2017]
Edition: Second edition.
Copyright Date: ©2017
ISBN: 9781119356295
1119356296
Branch Call Number: 332.6 HALLA 2017
Characteristics: xiii, 238 pages : illustrations ; 23 cm

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n
nanane
Jul 02, 2019

Great book for an intro to personal finance. It’s very approachable and digestible.

t
TootinMoose
May 16, 2019

I've been looking for a book to give college graduates to help them on their personal finance path. This one started out great. It checked all the boxes: live within your means, simple low cost investments periodically balanced. However, perhaps as a result of this millionaire teacher aging, a bit of crankiness comes in at the end. While I appreciate the warning about people wanting to slip between me and my wallet, the book harped on this a bit too much. All in all, a great resource for a person new to personal finance.

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.

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