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

4.25  ·  Rating Details ·  1,308 Ratings  ·  171 Reviews
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 weal ...more
ebook, 256 pages
Published September 15th 2011 by Wiley (first published January 1st 2011)
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Brahm
Dec 23, 2011 Brahm rated it it was amazing  ·  review of another edition
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
Dania
Aug 21, 2015 Dania rated it it was amazing  ·  review of another edition
Shelves: investing
Out of the four books (The Wealthy Barber Returns; Wealthing like Rabbits; Personal Finance for Dummies) I read about personal finance - this was no doubt the best, and the shortest, one.
If you're a newbie to investing: this is the book for you! Seriously just check it out. You have nothing to lose and A LOT of money to gain.

Basically it boils down to: index funds are the best! But it has a lot of other helpful content as well- it has some very solid advice on cars.

If anyone I knew was intere
...more
Toki
Oct 10, 2013 Toki rated it really liked it  ·  review of another edition
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
Mireille
May 26, 2016 Mireille rated it really liked it  ·  review of another edition
I think this is a very good introduction to investing for most people. Some parts are too detailed (too much repetition in the "why you must pick index funds" parts, and then discussion of single stocks?), some parts are cut almost completely when they could actually be an entire book (how to actually find money to invest/cut dumb stuff out of your budget - the never-turning-the-heat-on, biking-70-miles-a-day examples he gives are obviously way too extreme), but all in all it's a good start for ...more
Alex Ristea
Jun 22, 2016 Alex Ristea rated it really liked it  ·  review of another edition
Decent look into the basics of passive index investing. Highly recommended if you're not familiar with the topic already.
Dele Omotosho
Oct 22, 2015 Dele Omotosho rated it it was amazing  ·  review of another edition
Shelves: from-lib
This book can be summarized with this Warren Buffet quote (referenced in the book, pp. 77):

A short quiz: If you plan to eat hamburgers throughout your life and are not a cattle producer, should you wish for higher or lower prices for beef? Likewise, if you are going to buy a car from time to time but are not an auto manufacturer, should you prefer higher or lower car prices? These questions, of course, answer themselves.

But now for the final exam: If you expect to be a net saver during the next
...more
Neal
Aug 23, 2014 Neal rated it really liked it  ·  review of another edition
Shelves: my-library
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
Iman
Jan 02, 2016 Iman rated it really liked it  ·  review of another edition
This book was recommended to me by a friend. It's a quick read, funny in many instances, and educational. Having a degree in English Literature, I really appreciated all the literary examples, especially in the first couple of chapters.
For someone who has no clue about investing, Hallam lays out the scene in the simplest of terms (your future), clearly pinpoints the protagonist (all those lovely indexes) and the antagonists (actively managed funds), the co-conspirators (your average - or not so
...more
Jenny
Feb 04, 2015 Jenny rated it liked it  ·  review of another edition
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
Justin G
Jun 22, 2016 Justin G rated it really liked it  ·  review of another edition
A bit dated now, perhaps, but still some good advice about the lazy portfolio model to investing. Although I wouldn't go to the extremes the author has in trying to save money to invest, it definitely made me way less terrified to manage my own stock investments with a few simple (like, really simple) pieces of advice. It's all backed up by MATH which I appreciate too. It's a little broad, so it served as good inspiration to dig into the specifics by reading The Value of Simple: A Practical Guid ...more
Maggie
Jun 29, 2014 Maggie rated it really liked it  ·  review of another edition
Shelves: read-in-2014
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
Taaj F
Nov 22, 2015 Taaj F rated it it was amazing  ·  review of another edition
Recommends it for: investors
Andrew Hallam has made me rethink a lot of decisions I've made in the past regarding my investment decisions and will alter how I invest in the future for sure!

This 180 page book gave me a ton of information I would have probably only learned through trial and error. I've been investing in the stock market for the last 7-8 years but I'm not an active investor / day trader but more of a passive investor.

This book touches everything from how to spend like a TRUE MILLIONAIRE to what makes Index Fu
...more
Teresa
Jan 29, 2013 Teresa rated it it was amazing  ·  review of another edition
Shelves: finance
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
Michael Heneghan
Jul 25, 2013 Michael Heneghan rated it really liked it  ·  review of another edition
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
Achtung Englander
Dec 08, 2015 Achtung Englander rated it it was amazing  ·  review of another edition
Shelves: business
You cannot fault this advice on simple sound economics. The advice is pretty simple, nothing beats Index Linked Funds when it comes to long term investing. If planning for the future, be it for pensions or long term saving, this book is a god-send. Simple to read backed up with very strong compelling evidence.
This is not a quick rich or self improvement book. This is even better, it speaks to the 99%. Whether you are a blue or white collar worker, self employed, employed or even well off, if ti
...more
L
Sep 06, 2016 L rated it really liked it  ·  review of another edition
Recommends it for: Everyone
Shelves: non-fiction
Written in accessible and easy to understand language this is a great book on index investing for the beginner and intermediate. There are plenty of resources and further readings if you are inclined. Here are my paraphrased takeaways.

1. Spend on assets that appreciate, not depreciate like cars.
2. Start early to maximize compounding.
3. Low cost index funds will beat actively managed funds.
4. Control your emotions and understand the factors influencing stock prices as to not fall prey to the ups
...more
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
Cole
Oct 14, 2015 Cole rated it it was amazing  ·  review of another edition
Shelves: my-favorites
At the risk of being overly dramatic, I would say that this book was life-changing for me. The gist is that investing is simple and can be done in an intelligent and beneficial way if you remember a few key things: mutual funds and investment advisers have never (and will not) beat the market over an extended period of time; adviser fees kill your money's growth potential; investing in broad market index funds is the only way to go; compounding interest is incredibly powerful in the long run.

The
...more
Murray deBoer
Apr 08, 2015 Murray deBoer rated it it was amazing  ·  review of another edition
I've read a number of money and finance books over the years, and they all make sense in some way, but this is the first one at I can say fits my investing style and proves over and over again to be the best way to invest to get the best returns. Maybe I am biased a little, in the fact that the book reinforces a number of things I sort of knew, but may not have fully put into practice. I listen to the "experts" who are trying to sell me investment a little to much. This book has encouraged me to ...more
Katelynne
May 04, 2015 Katelynne rated it really liked it  ·  review of another edition
1) I need to reread certain parts of this book
2) I feel a little more comfortable with the things that I have been listening to/reading lately.
3) I need to read some more on this

Overall, I thought it was an easy to understand book and it put it in language that the podcasts I've been listening to couldn't. I especially enjoyed the section where they broke it down between 4 countries, one of them being my own.

I feel a bit more knowledgable but again, I definitely have to revisit some of the part
...more
Kristin Johnson
Dec 20, 2015 Kristin Johnson rated it it was amazing  ·  review of another edition
An excellent, easy to read and simple to understand guidebook to investing. As a newbie in the investment world, this book gave me enough information to begin my investment journey. It made me excited to put to use the wealth of knowledge I gained from Andrew Hallam's personal experience. It taught me the pitfalls of emotional investing and taught me the difference between diversified index funds and mutual funds (and what you should choose for yourself). I truly believe this subject is vital an ...more
Danny Torkelson
A bit repetitive, and a lot of the same advice you'd come across if you go browsing Quora for investing advice for a day, or if you just read the forewards before every chapter of Graham's Security Analysis.

Also, it turned me off a bit when Hallam would constantly insult investors and others in the financial industry, always trying to come up with a different humorous comparison to illustrate how dumb or ineffective they are. Yes, we get the point... on a long enough timeline, they don't beat t
...more
Eric
Feb 19, 2015 Eric rated it it was amazing  ·  review of another edition
Shelves: nonfiction
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
Ben Peyton
Those looking for a clear, concise introduction to personal investing, you can do worse than this book. It is a short book and I read it in almost one sitting and the author is pretty good at keeping the reader's attention through some dry topics. There are no get rich quick schemes included, just basic education on what to do with money you save. I found some of the stories about how this author saved money to be a little impractical so I skipped over most of those. Also, the sections on invest ...more
Alaine Davis
A disappointingly simplistic approach to the topic, with some inaccuracies that made me doubt the rest of the author's advice. (Sample: "The average return on the stock market is 8%, so that means half of the time it was higher than 8% and half the time it was lower." No, no, no!) A few useful tricks are shared here, which could easily have been a two-page essay. Definitely not an entire book.
Christina Jain
May 15, 2014 Christina Jain rated it it was amazing  ·  review of another edition
Must-read for any person interested in making millions for FREE. The lessons are tried and true, though Hallam does a far better job of explaining the whys and hows of personal finance standards than I've seen anywhere else. Excellent recommendation for high school and college students - the younger the better. ;)
Christina Jain
Jun 23, 2015 Christina Jain rated it it was amazing  ·  review of another edition
Must-read for anyone interested in making millions for FREE. The methods are tried and true, but Hallam's clear explanation of the whys and hows of personal finance standards are far better than I've seen anywhere else. I highly recommend for high school or college students - the younger the better ;)
Hilary Kissinger
Aug 26, 2015 Hilary Kissinger rated it really liked it  ·  review of another edition
This book, along with Suze Orman's (pretty corny) Money Book for the Young, Fabulous & Broke, has given me confidence to start investing for retirement with some simple guiding rules like buying indexes, balancing your stocks and bonds, and not letting financial advisers sell you expensive products. Pretty basic but just what I needed.
Tran Khoa
Jan 24, 2015 Tran Khoa rated it it was amazing  ·  review of another edition
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.
Jean
Aug 14, 2015 Jean rated it it was amazing  ·  review of another edition
Excellent read. I think that this book has the potential to have a profound positive impact on any reader's financial future. It was written in a way that any layman could understand and it provides a clear direction for novice investors to follow as they attempt to wade into the shark infested waters of retirement investing. I would highly recommend reading this book to everyone I know.
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