Jan 16, 2017
#60: Andrew Hallam grew a million-dollar investment portfolio on a schoolteacher's salary by his mid-30's.
In his bestselling book, Millionaire Teacher, he describes
these nine lessons in detail.
He shares these nine rules on this podcast, and
his ideas are so substantive that -- for the first time -- I
decided to release his interview as a two-part series.
In last week's episode, Andrew shared the first three rules of
building wealth. This week, Andrew dives into the final six rules
that can turn middle-class people into millionaires.
Here's a sneak peek:
• #1: Learn how to think
and spend like a millionaire.
• #2: Start investing
early. Time is your greatest investment ally.
• #3: Choose low-cost
index funds. Small fees pack big punches.
• #4: Understand your
inner psychology. Conquer the enemy in the mirror.
• #5: Learn how to build
a balanced, responsible portfolio.
• #6: Create an indexed
account, no matter where you live.
• #7: Don't resign
yourself to taking this journey alone.
• #8: Inoculate yourself
against slick sales rhetoric.
• #9: If it sounds too
good to be true, it probably is.
These rules may sound simple, but our discussion took an advanced
turn. Andrew and I dive deep into thorny topics like hedge funds,
casinos, and human psychology.
Enjoy this two-part series, and don't forget to check out Andrew's
excellent book, Millionaire Teacher.