Review: Millionaire Teacher

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

Andrew Hallam’s Millionaire Teacher, is my favorite personal finance book, period.  It is an entertaining read – I read the entire book the first time over a weekend (Who knew a finance book could be entertaining?).  Millionaire Teacher is informative.  Hallam even makes the world of investment seem simple!

Who is this book for?

If you’re a Canadian and you’ll only read one book about investing, this is the book.  If you are feeling like the world of investing is intimidating, and aren’t sure where to start, this is the book.  If you have money to invest and you’re not sure how to invest it, this is the book.  If you’re looking at an index investing approach, and are trying to wrap your mind around it, this is the book.  If you are feeling like you don’t have enough money to spare to think about saving or investing, this is the book (you can get the kindle version for $12).

Andrew Hallam shares his story, telling you how he managed to accumulate a million-dollar portfolio before the age of 40, on a modest school teacher’s salary.  Hallam demonstrates the value of maximizing savings and describes how he did it.  He explores the impact of investing early, the effect high-fee mutual funds can have on your investment returns and the benefits of using index funds as an alternative.  One aspect I really enjoyed, was his take on how an investor should think or react to large profits or losses in their portfolio.

This is the book I wish I had read, when I first started investing.  If I had found this book before I purchased my first mutual funds, even if I had gotten the worst deal on the book and it had cost me $100, it would still have been the best investment I could have made.

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