Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School Audible Audiobook – Unabridged
|New from||Used from|
Audible Audiobook, Unabridged
|Free with your Audible trial|
MP3 CD, Audiobook, MP3 Audio, Unabridged
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 expect from a gifted educator, Hallam demonstrates how average people can build wealth in the stock market by shunning the investment products peddled by most financial advisors and avoiding the get-rich-quicker products concocted by an ever widening, self-serving industry.
Using low-cost index funds, coupled with a philosophy in line with the one that made Warren Buffett a multi-billionaire, Hallam guides readers to understand how the stock and bond markets really work, arming you with a psychological advantage for when markets fall.
- Shows why young investors should hope for stock market crashes if they want to get rich.
- Explains how you can spend just 60 minutes a year on your investments, never open a financial paper, avoid investment news, and still leave most professional investors in the dust.
- Promotes a unique new investment methodology that combines low cost index funds and a Warren Buffett-esque investment philosophy.
Millionaire Teacher explains how any middle-income individual can learn can learn the ABCs of personal finance and become a multi-millionaire, from a schoolteacher who has been there and done that.
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
- 1 credit a month good for any title of your choice, yours to keep.
- The Plus Catalogue—listen all you want to thousands of Audible Originals, podcasts, and audiobooks.
- Access to exclusive member-only sales, as well as 30% off your purchases of any additional titles.
- After 30 days Audible is $14.95/month + applicable taxes. Renews automatically.
People who bought this also bought
Related to this topic
|Listening Length||6 hours and 24 minutes|
|Audible.ca Release Date||July 10 2020|
|Best Sellers Rank|| #19,262 in Audible Books & Originals (See Top 100 in Audible Books & Originals) |
#247 in Budgeting & Money Management (Books)
#290 in Personal Finance (Audible Books & Originals)
Top reviews from Canada
There was a problem filtering reviews right now. Please try again later.
The only criticism is that the book is only about 10 years old, but already showing its age for a Canadian reader. TD e-series funds are now just wrappers for ETFs (for what it's worth), and Vanguard has been in Canada for a while now. May be due for a revision.
Rule 1 : Spend like you want to grow rich, which means cultivating
frugality whether buying homes, cars or daily items.
Rule 2 : Take advantage of compound interest by starting investing
as early in life as possible — but only after high-interest debt is
eliminated. (I agree!)
Rule 3 : Pay attention to the negative impact of high fees and thus the case for
indexing: “Small percentages pack big punches.” Here he takes a
skeptical view of the motivations of the financial services industry
Rule 4 : “Conquer the enemy in the mirror.” It looks at the
problems of stock-picking and market timing, fear, greed and other
emotions that can sabotage investing.
Rule 5 : Build a “responsible portfolio” that includes both stocks
and bonds. Here Hallam introduces what he terms the Couch Potato
Rule 6 : Look at indexing in the U.S, Canada, Australia and Singapore.
Rule 7 : “Peek inside a pilferer’s playbook.” It looks at
common sales practices of financial advisors and brokers. He starts by
suggesting that those planning to own their own indexed account at a
discount brokerage may want to find a fee-only adviser who can set it
up for you.
Rule 8 : “Avoid Seduction,” and looks at the various distractions
that some term “financial pornography” — investment newsletters and
magazines, junk bonds, gold and hedge funds, which Hallam describes as
“the rich stealing from the rich.”
Rule 9 : Those who love to pick their own stocks if “they can’t
help themselves.” Hallam’s solution is to stay 90% indexed but to
allocate 10% to individual stocks if you find it enjoyable.
This helped me to understand my money so much better. And gave me the strength to tell my financial advisor to invest my money in index funds and not let him talk me out of it.
It's also awesome because it's written by a Canadian so the investing terminology makes sense.
I have recommended this book to many people who have purchased it as well, and lent my copy out a few times too.
(My brother recommended A Random Walk down Wall Street many years ago when I asked for investment advice, but it was like reading War and Peace! Couldn't take it, let alone understand it. I also read Rich Dad, Poor Dad a year or two before this one as well. And while I like it, this is still by far a better investment book.)
I was happy to see that there's a 2nd Edition of this book which I've just purchased.
The only person that benefits from your success in investing is you... so you need to learn how to manage your money yourself for the best results. Since I bought this book in late 2014, I've made over a 10% return on my portfolio while making buy/sell orders on less than 5 occasions. Hallam will teach you how to structure a similar portfolio, why crashes are some of the best things that can happen to you, and how to hedge against risk as you grow older to retire in comfort. I happen to agree with the author - this should be taught in grade school.
If you're looking for something simpler: check out Rich Dad Poor Dad. If you're looking for something more complex: try The Intelligent Investor.
Top reviews from other countries
The summary is:
* Spend only what you need to, in order to have a reasonable life style. Save as much as possible to invest for the future. Eliminate debt before you make new investments.
* Start investing as early as possible, to enjoy the benefit of compound interest.
* Invest in low-cost index funds.
* Split your investments into two segments: bond indexes and stock indexes. Weight the bonds according to your age, so if your are 38 years old, hold 35-40% of your entire portfolio in bonds.
* Over time the bond component will grow/fall at a different rate than the stock component. So when you invest new money, buy more of the under-performing component. For example, if stocks have done really well so your portfolio is now weighted 30% bonds and 70% stocks, buy bonds with the new money. Then every year, rebalance the portfolio, selling enough of the higher performing component to buy more of the worse performing component. Note that most people would do the opposite, and buy more of high performing component.
This strategy forces you to sell high but buy low. That's exactly what you'd do when buying and selling any other product.
I can't recommend this book highly enough. If I could, I'd give it ten stars. Buy it, read it, digest it, follow its advice. Ignore almost everything else.
No, I'm not related to the author, I'm totally independent of him.
I have bought 2 copies of this as gifts for others and cannot recommend it enough, it is the single greatest investment I have ever made.
However, I think every parent should purchase this book for their child. It is one of the best presents you could ever give them.
I have read the 'Intelligent Investor' and a few other highly recognised investment books but for me this book gives me confidence that I can now trust my investment decisions.