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Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School
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Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

4.19 of 5 stars 4.19  ·  rating details  ·  623 ratings  ·  96 reviews
The incredible story of how a schoolteacher built a million-dollar portfolio, and how you can tooMost 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 ...more
Paperback, 184 pages
Published November 1st 2011 by John Wiley & Sons (first published January 1st 2011)
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Brahm
Probably the most important book about finance I've read.

First, if you don't have RRSPs, go read the Wealthy Barber first - it's a good general financial information book.

Millionaire Teacher focuses very closely on investing. I think this is a very important book for anyone who's started an RRSP or is thinking of buying stocks to read.

If you are (were) like me and felt pretty good about yourself by walking into an RBC or a Scotiabank and having a financial adviser tell you which mutual fund y
...more
Toki
I don't know why I'm always embarrassed to tell people I'm reading books about money. Maybe I just assume they'll all think I'm a financial dunce? Well, I am. And so is everyone else I know.

You should read this book. Not only does it discuss frugality but it gives you basically "The Idiot's Guide to Investing" that makes sense, is backed up by research, and also makes you feel like a moron for the ways you "save" money.

I rank this right up there with Ramit Sethi's book "I Will Teach You to Be
...more
Michael Heneghan
After seeing it referenced so many times on international school teacher forums, I thought I'd take a gander. So far, the best advice: live like a millionaire, not like you want everyone to think you're a millionaire.

Author is an international school teacher too.

...finished.

This was a very easy read and, based on some of the discussions I've had with some of my peers this summer, something most people should read (or something like it). It seems there are a lot of folks my age (38) who are doin
...more
Teresa
Best intro to investing that I've read. Say no to mutual funds and yes to index funds. Some useful advice at the end for how to invest in stocks, if you want to play. Borrow this book again if deciding to invest in individual stocks.

Notes:
- when inflation/interest rates rise, bond prices fall.
- if you're going to get bonds, make them short term. You can also get a short term govt bond index fund
- put your age percentage in bonds and the rest in stocks. If markets drastically rise or fall (by
...more
Jacks Aradio
I would give the book five stars if it left off all the parts about the author himself and his anecdotes on his own financial picture. Also the title would have to be changed to something less obnoxious like "The Safe Way to Manage your 401K" but that may be the book I write and no one would read it. Basically removing all the fluff and human interest you could write this in a 30 page pamphlet with just the necessary information to guide you to a sound and secure financial strategy for your mone ...more
Jenny
Recommended by a colleague. Too beginner for me overall, but I did learn a few things that made me steaming mad at my personal banker for constantly derailing my investment plans....which I now see is her job. I'm finally pissed off enough to move my money, and this book helped me focus on finding out exactly how to do it.

This book is great for high-school students and young adults. I learned that giving kids financial gifts is a bad idea, so I'm going to focus on giving my time and experiences
...more
Maggie
I recently came to the realization that I was never going to become a millionaire by being granted a million dollars either through salary or lottery winnings, so I figured I'd better take a different approach. This is a no nonsense, easy to read book about investing that just makes sense. The author is Canadian but includes information about US investing options (and options for residents of other countries too, which is nice). A lot of it already rang true to me - I am by nature a saver - and ...more
Eric
I think this has been the best beginning investing book I've read, and I'll make a few changes to how I invest in the future. Although the book is simple, I like Hallam's 'dog on a chain' metaphor for how share price will follow profit increases. I also think it's prudent to own some index funds, especially if you are taking a hands-off approach to investing. Personally, I like dabbling in different investments and try to keep positions small and to have fairly consistent returns. However, an in ...more
Kevin
I would probably give this book 3.5 stars. This is not a revolutionary book, but repackages and reframes some conservative investment advice. By living within his means, and saving vigilantly while young, Andrew Hallam amassed over $1 million in wealth before he hit the age of 40 on a teacher’s salary. This might be slightly misleading, because he clearly is involved in other activities, writing columns and holding seminars among other things. While he is a firm believer in the stock market, he ...more
Ashley
Hallam gave some of the best descriptions of how the stock market and bonds actually work that I've read. It's definitely strong on index investing, so he was preaching to the choir on that one, but there's a lot of good information here. Clarifying how the markets work and what people should know about companies before buying them as stocks was a strong argument for not trying to pick stocks yourself at all. He also outlines the pitfalls of managed mutual funds well. A quick, worthwhile read. I ...more
Tara Mc
I was attracted to this by the title, obviously! Andrew Hallam, a teacher at a Singapore International School, did manage to become a millionaire on a teacher's salary while still in his thirties. This has appeal to the many, many teachers I know who are working outside their home country, earning enough to save, but perhaps not planning for retirement according to any particular principles.

The topic is investing, so it's not a general introduction. The book is not like most which give financia
...more
Monica
I rate this 5 starts because there are just too few books on personal financial management and investment that contains common sense,yet is simple enough for the layman to understand. What I am trying to say is, there are just too few of such books that truly wants to do some good for humanity and the average man. But I tell you this is one of the rare ones.

Andrew Hallam is truly the teacher - he goes down to your level and is here to educate you, not to make a fast buck from his book.The basic
...more
Tran Khoa
This book teaches me the most important basic rules in investing in a very simple and intuitive way. The author explains how to build an investing model in detail without any complex math or calculation, and with concrete proofs. Definitely I will re-read this book multiple times along with my early investing journey.
Dave
This sounds like a really smart investment plan/philosophy that I may very well follow this with my money (after double-checking with a few other trusted experts to be sure). It makes a lot of sense to me. Really glad to have found this book.

Well written, explained in a way that was easy to understand and follow the logic. Didn't start over my head and didn't oversimplify--explained really well for every-day joe's.

Probably best for those really interested in the topic, motivated to read throug
...more
Laura
I've read a few financial books and I particularly liked this one, because it has no gimmicks, and the author doesn't profit from your investments. The plan is relatively simple - do all your investing in index funds which have low expenses (he recommends Vanguard). Purchase a total stock index fund, total bond index fund (he mentions short-term at one point) and a total international stock fund. One rule is to buy bond funds equal to your age - if your 50 you can buy 50% in bonds and split the ...more
Bryan Wiedeman
A great read for any expatriate teacher living overseas. Andrew Hallam does a fantastic job making investing easy for expats. He also lets teachers know the pitfalls they need to avoid in order to be successful investing
David
This book is the equivalent of reading advice from a blog. The advice is concise and straightforward. Well recommended to any beginners who have no idea about personal finance. It does a good job covering the basics.
Shannon Whitney
This was refreshingly simple to read. Usually financial books have me glazed over by page two. I'm not well-versed in this subject, but he made he think I can manage my own money (yikes).

He's very passionate about index funds over mutual funds. After reading his argument, I have to agree that they sound like a solid choice for long-term growth. I would be interested in reading someone's opposing perspective just because he makes his argument seem so obvious. It has me feeling suspicious about b
...more
Jeannelle
I liked this book.

However, a friend and I created excel spreadsheets with his ideas and theories and we never quite got the numbers to work the way he says. Even if we didn't factor in the recession.
Tim Harsch
Draws heavily from The Little Book of Common Sense Investing by Bogle and even references it at times. That said, it is a good overview for modern index investing and the rationale behind it.
Justin
This was the first book I read about personal investing, something that I oddly did not learn about in Business School.

Written specifically for those people who don’t know A SINGLE THING ABOUT FINANCE, this book I would recommend everybody to read. You learn about the deception of mutual funds and Andrew provides actionable steps to start building a million-dollar portfolio using stock index funds and bond index funds.

What was great about this book is that he provided steps for Canadian invest
...more
Natalie Barnes
My second book on my quest for financial literacy. This one (as far as I know) wasn't on a best seller list but the reviews i read were really positive to so i took a chance. It was great. Clear, very easy to understand, and pretty transparent. The guy became a millionaire off of a high school teacher's salary. He has nine rules which boil down to just a few: spend like a millionaire (the majority of which live quite frugally), invest in index stocks to avoid high mutual fund fees,and invest ear ...more
Caitlin
Very clear and useful advice regarding personal finance. Thought each step was relevant and I now feel much more confident in the idea of beginning investing next year.
Ethan Fleck
I want to start with this by saying that this guy became a millionaire by his 30s on a teacher's salary, which is pretty damn cool! This was a great, fairly quick read on how to use tried and true methods to gain wealth. I really enjoyed it because it was easy to read and I definitely heard the authors voice through the text. As far as finance books go it was mostly easy to understand and kind of funny some of the time, never too cheesy. The basic takeaway I got was to use index stocks and bonds ...more
barbara
The only financial investing advice you'll need, and in clear layman's terms. Great book.
Jennifer Davis
Interesting read about a school teacher that managed to make $1 million dollars through easy and strategic investment decisions. I find it especially interesting how he describes the financial education you receive through school (virtually non-existant) and how that sets us up to fail by buying trendy consumer items with high interest credit cards that we can't afford. Many of his tips are easy things for college kids (and even high school) kids to do that they can afford and aren't going to pu ...more
Devin Partlow
Finally! A book about how to become rich that doesn't involve shopping at the Goodwill and riding your bike 50 miles back home to your cardboard box. Easily the most practical, easy to digest, stock market strategy I have encountered! They definitely need to teach this in school.

Oh and the similes in this book, LOL!
Kelly Hayes
A good into to inviesting, but the writing could get really preachy.
Timothy Dengate
Easy read. Good overview of sound investment principles.
Ryan
Read this book... then fire your useless financial planner.
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