Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School Audible Audiobook – Unabridged

Andrew Hallam (Author), Peter Drew (Narrator), Tantor Audio (Publisher)

941 ratings

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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.

Listening Length

6 hours and 24 minutes
Author

Andrew Hallam
Narrator

Peter Drew
Audible release date

July 10 2020
Language

English
Publisher

Tantor Audio
ASIN

B08C5MMF6Q
Version

Unabridged
Program Type

Audiobook
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Product details

Listening Length	6 hours and 24 minutes
Author	Andrew Hallam
Narrator	Peter Drew
Audible.ca Release Date	July 10 2020
Publisher	Tantor Audio
Program Type	Audiobook
Version	Unabridged
Language	English
ASIN	B08C5MMF6Q
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)

Customer reviews

4.7 out of 5

941 global ratings

5 star		75%
4 star		19%
3 star		4%
2 star		1%
1 star		1%

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Top reviews from Canada

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CJ, Toronto

Honest, smart, and practical

Reviewed in Canada 🇨🇦 on October 3, 2020

Verified Purchase

Excellent guide to DIY investing, and worth its weight in gold when applied from a young age. When most people think of the stock market, it’s in terms of picking the winners from the losers, not in terms of passively managed index funds and fee avoidance. This book is not for the person looking to get rich quick from the market, which is a losing proposition in any case. It’s for the person that wants to get the most performance from their investible money over the long term at very little effort. Hint: it’s not by putting it in the hands of your bank’s financial advisor.

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.

4 people found this helpful

Helpful

Jorge Andreas

Good investor, but I don't know if I would like the individual

Reviewed in Canada 🇨🇦 on November 21, 2012

Verified Purchase

The first chapters sounded like common sense. They were not realistic considering that many people have children, emotions and recognize that prestige outweighs long term financial investments. I found a summary that would make the need of purchasing the book ( thus saving your money ) unnecessary :

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
generally.

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
Portfolio.

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.

31 people found this helpful

Helpful

FreshAirJunkie

Best purchase I've ever made.

Reviewed in Canada 🇨🇦 on February 13, 2017

Verified Purchase

I buy very few books but after borrowing this one from the library a few times I decided to just get my own copy a few years ago.
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.

Helpful

Brando

Good for all ages

Reviewed in Canada 🇨🇦 on September 14, 2015

Verified Purchase

So simple even a sixth grader can grasp. Round out your knowledge base with a mutual funds for dummies book or start with that and you're set. There's no get rich quick here, just a solid plan for steady wealth building and the strategy presented, if adopted en masse could buttress against stock market crashes created by speculation and bubbles so it's good for the individual and good for the whole. Obviously you're betting on the market as a whole to perform long term and the question is whether the North American economy will continue to grow as it's done for a century and you do learn from the book that the growth of some overseas economies have outpaced the growth of their stock index, so if stock prices should ultimately reflect a company's value then you wonder if our stock markets will continue to soar ahead of GDP growth. Nevertheless the principles are sound for example buy low sell high. Kinda makes you see conspiracy in wars as the market had always plunged at the outset of wars and the whole equity market underperformed through Vietnam. Anyway, excellent book, and also check out the footnotes/references and recommended reading.

Helpful

Satori Wholesale

Ideal intro to personal finance. Manage your money for fun and profit.

Reviewed in Canada 🇨🇦 on July 22, 2015

Verified Purchase

Great introductory book to personal finance. If you've ever wondered how that guy with the average-paying job down the straight has so much money, this book is for you! It's a fantastic introduction to how to invest on your own behalf, and STOP asking your local bank for their recommendations.

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.

3 people found this helpful

Helpful

Top reviews from other countries

Avid Reader

Buy a copy of this book for all of your friends and family

Reviewed in the United Kingdom 🇬🇧 on December 19, 2016

Verified Purchase

This is by far the best book on investing that I've ever read. And I've read several dozen of them, plus another few dozen trading books. It's very clear, very concise, and makes perfect sense. I re-read it every year. Hallam gives us a complete investment strategy, which works across all phases of the market. You'll need to do a little bit of research at the beginning, but you won't need to make any complicated decisions. It should take a few hours each year to implement.

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.

35 people found this helpful

Dave

Gutted this wasn't available 20 yrs ago!

Reviewed in the United Kingdom 🇬🇧 on April 3, 2017

Verified Purchase

This book will change your life in such a positive way. It does not give you a get rich scheme or some new cosmic method of making money, it is simple but immensely powerful advice.

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.

5 people found this helpful

Charlie

Every parent should purchase this book for their child.

Reviewed in the United Kingdom 🇬🇧 on April 18, 2016

Verified Purchase

Simply the best and most informative for the average investor. It is highly-recommended and the fact that it is so readable and full of common sense makes it so relevant for people of all ages.

However, I think every parent should purchase this book for their child. It is one of the best presents you could ever give them.

2 people found this helpful

Fran

By far the best investment book I have ever read.

Reviewed in the United Kingdom 🇬🇧 on January 3, 2017

Verified Purchase

By far the best investment book I have ever read. It educates you on investment costs, stocks and bonds.
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.

4 people found this helpful

Benjamin Franklin

Excellent investment advice

Reviewed in the United Kingdom 🇬🇧 on November 11, 2013

Verified Purchase

I highly recommend this book to anyone who wants straight forward, understandable advice on making investments over the long term. If you are after a get rich quick book then look elsewhere, but if you want to get rich slowly then this is the place to start.

7 people found this helpful

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Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School Audible Audiobook – Unabridged

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