WILEY Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

This book is a must-read. From the first time I read it in 2014, to today, the principles of this book have guided my husband and I greatly. Before we read it, our net worth was around the $1 million mark, and now we have more than 6x-ed it. I recommend this book to ANYONE. The general principle is this: if Andrew Hallam was able to create a net worth of $1 million by age 38 on a teacher's salary, most of us can do it too. It's simple, clear, easy to follow and most of all, EFFECTIVE! I wish they taught this at school. This is truly a classic and continues to help many people like us learn how to create true wealth.

Find someone who knows even just a little bit about index funds, then learn how to do it yourself.

good.

Andrew Hallam is an English teacher who became a self-made millionaire in his 30's. He achieved this by taking his teacher's salary, frugally saving it, and diligently investing it, year after year, in index equity funds, index bond funds, and some rational individual stock selections. He's living proof that almost everyone in the developed world can become a millionaire because he led by example.Some particularly notable good things about the book:-His set of arguments for index funds over actively managed funds is flawless. He really puts the nail in the coffin of actively managed funds. Not only does he make extremely effective arguments backed up by statistics, history, and reasoning, he even counters the expected counterarguments made by people who wish to sell you those funds anyway. His devastating arguments against the enormous self-serving financial services industry should be clear to any rational mind.-The 184 page book is an elegant read. This isn't a financial guru writing a book; it's a self-made millionaire English teacher. It can be read in a weekend, is easily accessible to a multitude of different types of readers, and the "nine rules of wealth" that the book is organized as break it up into easily read chunks. He artfully blends personal stories, humor, facts, and images to create a rather effortless reading experience. He has a significant amount of international experience, and so the book is appropriate for people from many countries.My only criticism of the book and its advocacy of index funds is the loss of shareholder voting rights that accompanies index funds, mutual funds, and ETFs. I disagree with a primarily indexed portfolio, and instead believe indexes are great as portfolio supplements. But, for those that invest in actively managed funds, index funds are a much better solution.Conclusion:Millionaire Teacher is an excellent, easy-to-read book. In my opinion, this should be on the reading list for every high school student in the world, considering how lacking financial education is for most students. In addition, I suggest that everyone who currently invests in actively managed funds should read this, since I couldn't agree more that index funds in almost every case are far more rational to invest in than actively managed funds.

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.