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Archive for August, 2014

Millionaire Teacher by Andrew Hallam (Book Review)

August 9th, 2014 at 09:32 pm

"Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" by Andrew Hallam (2011)

This is an EXCELLENT beginner personal finance and investing book, written by a private school teacher who built a million dollar investment portfolio on a teacher's salary. His advice is down to earth and sensible (spend less than you earn, start investing early, invest in low-fee index funds, resist the sales pitches from financial planner salespeople, etc.) What I especially liked was the way concepts were explained intelligently, clearly (in plain English), and with humor. He uses an analogy that compares the stock market to a dog on a leash that helped me understand stocks even more clearly than before. Of special note for our non-American friends is a chapter devoted to investing if you live in Canada, Singapore, or Australia. This is my new favorite basic PF book. I wish my niece were old enough to read it, but at 13 she's probably still a little young. Big Grin

To give you some idea of just how credible this book is:
- The blurbs on the book jacket recommending the book include those written by Burton Malkiel, Scott Burns, William Bernstein, etc.
- The authors he quotes in his book include Thomas Stanley, John Bogle, Larry Swedroe, Burton Malkiel, Daniel Solin, etc.
He's in pretty good company.

This book is worth a read (check your local library, which is where I got the copy I read over 2 days) and would make an excellent gift for a college student or grad.