Book Review: Millionaire Teacher

Another money book I read this summer was Millionaire Teacher.  The author, Andrew Hallam, is a Canadian teaching in Singapore and became a millionaire on his humble salary.  It's geared more for the beginner investor than the last book I reviewed, The Aspirational Investor, but its tenets are basically the same.  Hallam's nine rules are simple:

1.  Save, save, save.  Don't spend everything you make.  Save up before you buy things.  Set money aside a portion of your money to grow with inflation.  People who are insecure spend to impress.  Actual millionaires spend way less than what they make.

2.  Index, index, index.  Put your money in index funds.  He spent a large part of the book describing how people who try to beat the market on stocks don't actually beat it.  He said since the housing crisis of 2008, everyone but your money manager has a more sober head on their shoulders and is just putting their money away in index funds.  Your money manager, on the other hand, has only one interest- to sell you their products.  Avoid them and their attendant hidden fees and comissions, he says.

I know that's only two points, but those are the only two points he made.  And with that, you too can become a millionaire on your humble salary.  It's an easy read, and like The Aspirational Investor, Hallam's advice is pretty down to earth.