Monday, 8 December 2014

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

Millionaire Teacher by Andrew Hallam

I have no idea which book to read when I first started.. but I am reading / have read the following book and think it is great. This is why I am recommending Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School to you. Get it from and have it delivered right to your doorstep.

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.

I remember reading this book a few years back when I began my investment journey. This is not a book about trading forex or swing trading, it is one of the books which reinforced the principles of long term investments and portfolio allocation techniques. You can follow the advise given (e.g. buying low-cost index funds in diversified areas) and build up your wealth over the long run. However, do take note that no one can ever promise you that their funds will not collapse (remember Lehmann Brothers?). Even the most reliable funds manager can undergo various issues (like board disagreement, i.e. PIMCO). So choose your funds wisely and be diversified. With consistent and disciplined investments into your allocated portfolio, I am sure you can be a millionaire when you retire too!

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Financial freedom = Passive Income > Expenses. Always remember that there are two sides to the equation of financial freedom. Beside working on how to improve our passive income through investing, we should never neglect the expenses portion. By striving to improve both side of the equation, we can achieve our financial goals and win in the game of money.

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