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

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

by Andrew Hallam (Goodreads Author)

Reader Q&A

To ask other readers questions about Millionaire Teacher, please sign up.

Answered Questions (1)

Call me a cynic, but I'm usually suspicious of janitors, teachers, military men and the like claiming they've achieved millionaire status. Without generous family members or luck, I don't see their after-tax, after-cost of living income being more than 20k. Is it too good to be true? Is the author just trying to get us to buy the book?
Cameron This depends a lot on where they live, if they have kids, if they're the only income in their household, etc. Two teachers easily have a six figure ho…moreThis depends a lot on where they live, if they have kids, if they're the only income in their household, etc. Two teachers easily have a six figure household income in most places. Teachers also tend to have good benefits and a path to student loan forgiveness.

Without kids and with a reasonable cost of living, they could have much more than $20k to invest if that's the priority. Even at that, if you could invest $20k/yr for 30 years, you should be well above $1 million. You're correct that a single income household with kids relying on a teacher's salary would have a really difficult time with this.

Also if you look into the details, most teachers with "too good to be true" levels of wealth tend to have played the international game at some point. Go teach in Dubai for 5 years, housing covered by the school, tax free income, and save nearly every dollar that they make. Then there's also the fact that teacher have about 10 weeks off in the summers, which is an opportunity to earn more if they have a lucrative seasonal job.(less)
flag

Unanswered Questions

About Goodreads Q&A

Ask and answer questions about books!

You can pose questions to the Goodreads community with Reader Q&A, or ask your favorite author a question with Ask the Author.

See Featured Authors Answering Questions

Learn more