Millionaire Teacher: The Nine Rules Of Wealth You Should Have Learned In School (2011) - Plot & Excerpts
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 other parts served as a reality check that made me realize I need to make some changes to the way I am managing my money. The author does make me feel a little panicky about not having started saving/investing when I was 19, but there's no time like the present. I think this book would be a great gift for high school or college graduates. I was attracted to this by the title, obviously! Andrew Hallam, a teacher at a Singapore International School, did manage to become a millionaire on a teacher's salary while still in his thirties. This has appeal to the many, many teachers I know who are working outside their home country, earning enough to save, but perhaps not planning for retirement according to any particular principles. The topic is investing, so it's not a general introduction. The book is not like most which give financial advice since this one is not selling one particular bank or policy. Instead the principles of index funds and why they are better than mutual (managed) funds is clearly explained. Some companies are suggested as examples, but this stops short of being product pushing, and seems to be in keeping with the rest of the book. It seems to be the kind of thing that most financial advisors would hate and I like the spirit of sharing knowledge that seemed to come with the book. Overall, I agree with him that if you are an ex-pat teacher, or ex-pat of any kind, you should be reading books like this for financial planning.
What do You think about Millionaire Teacher: The Nine Rules Of Wealth You Should Have Learned In School (2011)?
Read this book... then fire your useless financial planner.
—ceri86
Everyone should read this book. End. of. story.
—MissyMonroeVanity
