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

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4.30  ·  Rating details ·  2,907 ratings  ·  325 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 clarity you'd extoo

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Kindle Edition, 208 pages
Published (first published January 1st 2011)
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Average rating 4.30  · 
Rating details
 ·  2,907 ratings  ·  325 reviews


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Brahm
Dec 23, 2011 rated it it was amazing  ·  review of another edition
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 o
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Dania
Aug 21, 2015 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 interested in
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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...
Dele Omotosho
Oct 22, 2015 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 s/>
A
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Toki
Oct 10, 2013 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
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Mireille Duval
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
Jenny
Feb 04, 2015 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
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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
Jean Buckland
Jul 21, 2018 rated it it was amazing  ·  review of another edition
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.
Justin Kimberley
Aug 20, 2019 rated it really liked it  ·  review of another edition
Well worth a read. Gives a great overview of how to implement a passive investment plan.
Taighe Selwood
Pretty good intro to investing I think - if I'm a millionaire in 50 years I'll give it 5 stars
Neal
Aug 23, 2014 rated it 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
Michael Heneghan
Jul 25, 2013 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
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Lily
Jan 02, 2016 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
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Justin G
Jun 22, 2016 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 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
Katelynne
May 04, 2015 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
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Tammie
Nov 16, 2017 rated it it was amazing  ·  review of another edition
Amazing start to my financial literacy journey.
Vỹ Hồng
Mar 18, 2018 rated it really liked it  ·  review of another edition
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
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Shivam Sharma
Sep 13, 2018 rated it really liked it  ·  review of another edition
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
Stephanie
Mar 13, 2018 rated it it was amazing  ·  review of another edition
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.
Amanda
Mar 15, 2018 rated it it was amazing  ·  review of another edition
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.
Nghia Ngo
Aug 26, 2018 rated it really liked it  ·  review of another edition
simple and easy understanding for the begginers of stock investment... with realistics guides and sample to let the readers know how to choose stock, when to sale, etc ...
Jane Dugger
3.5 stars

This is a very readable book. Please note the topic is about investing more than general finance.
ron btdtbttsawio
Mar 09, 2018 rated it really liked it  ·  review of another edition
Another easy to follow book on personal investments.
Of interest to me was the section on index funds and how to deal with financial advisors that try to push actively managed mutual funds.
Taaj F
Nov 22, 2015 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 ma
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Teresa
Jan 29, 2013 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 fal
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Achtung Englander
Dec 08, 2015 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
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Mustapha Safadieh
I didn't realize how dangerous my own financial practices were until I finished reading the first chapter of this book.

Andrew Hallam is a great teacher, and in this book he breaks down his rules to properly maintaining personal finances. While some of his rules are just common sense (to me at least) others really pave the way for young investors to actually be in control of the way they think about money, and where to stick your dollars for the best rate of return internationally. Thankfully, h
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L
Sep 06, 2016 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 a
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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 say
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“Many have jeopardized their own pursuit of wealth or financial independence for the allusion of looking wealthy instead of being wealthy.” 1 likes
“Gold is for hoarders expecting to trade glittering bars for stale bread after a financial Armageddon.” 1 likes
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