Millionaire Teacher Quotes

“Many have jeopardized their own pursuit of wealth or financial independence for the allusion of looking wealthy instead of being wealthy.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“The best way to own common stocks is through an index fund.3”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“When I tell young parents about the power of compounding money, they often want to set money aside for their children’s future. “Setting aside” money for a child, however, is very different from encouraging a child to earn, save, and invest. ​Giving money promotes weakness and dependence. Teaching money lessons and cheerleading the struggle promotes strength, independence, and pride.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“I've found that being responsibly conservative is better than stretching over a ravine to pluck a pretty flower.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“Gold is for hoarders expecting to trade glittering bars for stale bread after a financial Armageddon.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“35% Vanguard U.S. Bond Index (Symbol VBMFX) 35% Vanguard Total U.S. Stock Market Index (Symbol VTSMX) 30% Vanguard Total International Stock Market Index (Symbol VGTSX)”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“The surest way to grow rich over time is to start by spending a lot less than you make.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“Over an investment lifetime, it’s a virtual certainty that a portfolio of index funds will beat a portfolio of actively managed mutual funds, after all expenses. But over a one-, three-, or even a five-year period, there’s always a chance that a person’s actively managed funds will outperform the indexes.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“A Fortune magazine writer once said, “By day, we write about, ‘Six Funds to Buy NOW!’. . . By night, we invest in sensible index funds. Unfortunately, pro-index fund stories don’t sell magazines.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“Many financial writers wish for one thing at Christmas. They want their readers to suffer from classic, daytime soap opera amnesia. Steve Forbes should know. The publishing executive for Forbes magazine said, “You make more money selling advice than following it. It’s one of the things we count on in the magazine business—along with the short memory of our readers.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“As I mentioned before, we don’t tend to be rational. Most people like buying shares that have risen in value and they like selling shares that have fallen in value. Smart investors don’t do that. They add money to their investments every month. They rebalance once a year.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“remember to rebalance. If the international stock market goes on a tear, don’t chase it with fresh money. If your domestic stock index and the international stock index both shoot skyward, add fresh money to your bond index.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“When asked to share his investment holdings in an interview with PBS News Hour in 2009, the first thing out of Merton’s mouth was the global index fund that he owns. It charges eight basis points. That’s”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“The most efficient way to diversify a stock portfolio is with a low fee index fund.5 —Paul Samuelson, 1970 Nobel Prize in Economics”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“My advice to the trustee could not be more simple: put 10 percent of the cash in short-term government bonds and 90 percent in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.)”4”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“Interviewed in 1999 by Jason Zweig, Aronson said, “Small-caps don’t outperform over time . . . Sure, the long-run numbers show small stocks returning roughly 1.2 percentage points more than large stocks . . . [But] the extra trading costs easily eat up the entire extra return—and then some!”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“Gold is for hoarders who expect to trade glittering bars for stale bread after a financial Armageddon. Or it’s for people trying to “time” gold’s movements by purchasing it on an upward bounce, with the hopes of selling before it drops. That’s not investing. It’s speculating. Gold has jumped up and down like an excited kid on a pogo stick for more than 200 years. But after inflation, it hasn’t gained any long-term elevation. I prefer the Tropical Beach approach: Buy assets that have proven to run circles around gold (rebalanced stock and bond indexes would do). Lay in a hammock on a tropical beach. Soak in the sun and patiently enjoy the long-term profits.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“To paraphrase the discussion, she shocked us with this: First, we get a feel for the client. The bank suggests that if the client doesn’t know much about investing, we should put them in a fund of funds, for example, a mutual fund that would have a series of funds within it. It tends to be a bit more expensive than regular mutual funds. This sales job only works with investors who really don’t know what they’re doing. If the investor seems a little smarter, we offer them, individually, our in-house brand of actively managed mutual funds. We don’t make as much money with these, so we push for the other products first. Under no circumstances do we offer the bank’s index funds to clients. If an investor requests them and we can’t talk them out of the indexes, only then will we buy them for the client.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“As Upton Sinclair said long ago, “It is difficult to get a man to understand something when his salary depends on his not understanding it.”8”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

“Greed might be the greatest hallucinogenic known to man.”
― Andrew Hallam, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School