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

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4.31  ·  Rating details ·  4,738 ratings  ·  491 reviews
The incredible story of how a schoolteacher built a million-dollar portfolio, and how you can too 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 ...more
Paperback, 184 pages
Published November 1st 2011 by Wiley (first published January 1st 2011)
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 ·  4,738 ratings  ·  491 reviews


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Brahm
Dec 23, 2011 rated it it was amazing
Update: 7 years later...
Since 2012 this review has floated to the top of the stack. I'm glad people have found it useful!

I wanted to edit in this update to answer an unasked question: "Is this book still relevant and useful?" The answer is a resounding yes !

What I learned in Millionaire Teacher is every bit as relevant for me today as it was 7 years ago. Banks and are still trying to take advantage of our ignorance and sneak in fees. The strategies in this book have formed the foundation of
...more
Dania
Aug 21, 2015 rated it it was amazing
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
Dele Omotosho
Oct 22, 2015 rated it it was amazing
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
Patrick Sherriff
Apr 18, 2019 rated it it was amazing  ·  review of another edition
Shelves: business
The stock market is a mad dog on a long lead, and other insights... my proper review is here: https://patricksherriff.com/2019/04/1... ...more
Toki
Oct 10, 2013 rated it really liked it
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 Duval
May 26, 2016 rated it really liked it
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
Neal
Aug 23, 2014 rated it liked it
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
Robin Potts
Feb 03, 2021 rated it really liked it  ·  review of another edition
The early chapters discuss the exact errors I made with mutual funds back in the 80's when information gathering was difficult and controlled by the very shysters hawking the funds. I agree that index funds are now the way to go, but I also like the idea of holding back 10 to 20 percent for more risky and potentially higher return investments that help appeal the gambler in all of us. Jmho. ...more
Dickson Tan
Mar 18, 2020 rated it it was amazing  ·  review of another edition
TLDR: just buy it, the return on investment on this book will be enormous. Share what you've learnt with friends too.

> If a financial adviser tries to tell you not to invest in index funds, they’re essentially suggesting that they’re smarter than Warren Buffett and more brilliant than a Nobel Prize Laureate in Economics. What do you think?

This is one of the best books out there to learn about investing. With lots of well-researched statistics and information, this book basically makes the case f
...more
Jenny
Feb 04, 2015 rated it liked it
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
Celise
Second Edition. A good finance book to read after starting with The Wealthy Barber. Very accessibly written, but still packed with numbers and good information. If you've started investing recently, or are about to, the chapters on mutual funds versus investing in index funds on your own (or with a robo investor) would probably be really valuable to you, like it was to me.

Book a Week Experiment. 4.5/5
...more
Jean Buckland
Jul 21, 2018 rated it it was amazing
Good book on investing. Especially if you know very little about it. The author explains things in a way that is easy to understand and is it quite funny at times. Investing concepts that I have heard before that didn't make sense finally clicked. ...more
Barbara
Sep 20, 2014 rated it it was amazing
The only financial investing advice you'll need, and in clear layman's terms. Great book. ...more
Tammie
Nov 16, 2017 rated it it was amazing
Shelves: favorites
Amazing start to my financial literacy journey.
Taighe Selwood
Sep 01, 2019 rated it liked it
Pretty good intro to investing I think - if I'm a millionaire in 50 years I'll give it 5 stars ...more
Hind
May 09, 2020 rated it it was amazing
it is a good book to start with if you were wondering about investment.
Hidde
Nov 19, 2020 rated it it was amazing
Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

Introduction

The author is a former English- and personal finance teacher and managed to grow a millionaire before the age of 40 on an average high school teacher salary. In this book he shares the 9 proven rules which one have to consider to grow wealthy.

What the book is about

The premise of the book is to learn one to invest without having to read to newspapers, following the news and digging into other financial new
...more
Steve Granger
Jan 16, 2020 rated it really liked it
An incredibly helpful and accessible introduction to investing targeted towards those in the lower-to-middle income brackets. Highly recommended as a great place to start when considering how best to start saving money for your future.
Justin
Aug 20, 2019 rated it really liked it
Well worth a read. Gives a great overview of how to implement a passive investment plan.
Valentino Mpasinas
May 31, 2020 rated it it was amazing
This review has been hidden because it contains spoilers. To view it, click here.
Lily
Jan 02, 2016 rated it really liked it
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
Maggie
Jun 29, 2014 rated it really liked it
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
Justin G
Jun 22, 2016 rated it really liked it
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
Stephanie
Mar 13, 2018 rated it it was amazing
Highly recommended. To be fair I have some background knowledge on personal finance and index funds which made this an easier read for me. But I like seeing other people’s perspectives and see if their ideas align with mine. I like that this book really ranged from beginner topics to getting much more advanced so there’s something for everybody no matter where you are in the investment process.
David
Oct 23, 2014 rated it liked it
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.
Amanda
Mar 15, 2018 rated it it was amazing
Andrew Hallam writes in such a way that makes understanding investment easy. Loved the various chapters on how to invest in different countries. He gives us a global perspective.
Julia
Apr 12, 2021 rated it liked it
Good quality content on personal finance. Mostly introductory, so it was predominantly review for me, but I appreciated his clear explanation of the role of bonds in a portfolio.
Vỹ Hồng
Mar 18, 2018 rated it really liked it
Shelves: personal-finance
This is a good beginner book that explains basic investment concepts and argues for index investing.

Despite the title, the author does not come across as an arrogant, self-bloating individual. It is quite the opposite. The book's tone is friendly and casual. Just like... a teacher.
"The millionaire teacher" is knowledgeable about his subject matter. He can explain the core concepts clearly and convincingly. He gives enough data to support his arguments, but not too much that it boggles the reader
...more
Shivam Sharma
Sep 13, 2018 rated it really liked it
It's 7 in the morning and I have spent the last hour reading the final two chapters of this book. How has this book been to me? Worth every minute I have put into reading it. It introduced me to the working about indexed fund while making jokes about James Bond. There is the wisdom of Warren Buffet in it, you surely can't get enough of that. But most importantly, unlike most other finance books I've read, this is the first in the way that it is written. While most books focus on the fact and the ...more
Alexander Piccinin
Oct 20, 2020 rated it really liked it
I received this book from my brother as a Christmas gift last year and I’m happy to say it proved useful, easy to digest, and surprisingly accessible. While Hallam’s writing style leaves something to be desired, what he lacks in finesse he more than makes up for in practical advice and sound life coaching. If I could condense the book into one sentence it would be “Remain consistent with your investment portfolio despite market fluctuation, be frugal in your 20’s and 30’s, and opt for index fund ...more
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I have a romantic idea. It isn't the red roses, candlelight dinner kind of thing (although that's a nice notion too).

Instead, I want to help people spend time with the people and passions they love. Sound corny? Bear with me for a moment.

Financial independence buys time. That's where my books and talks come in. I want to show people how to invest. The financial industry says, "Hey, let us help!" B
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