My learnings from the book — The Millionaire Teacher

Andrew Hallam, the author of the book says there are 9 rules one must follow in order to generate wealth. The book recommends index funds, use common sense, and opposes certain type of investment advisors. This summary will cover all 9 rules that the author advocates.

Spend Carefully

Magic of Compound Interest

Avoid fees.

Know thy self

Portfolio rebalancing

Diversify

You don't have to invest on your own

Beware of “Timing the Market” claims

If it's too good to be true, it not true.

For instance, emerging markets often offer sensational returns, but they can turn down sharply and quickly. If you don’t like this kind of volatility, choose a “total stock market index” rather than investing excessively in emerging markets. And gold can turn out to be a poor investment. If you invested $1 in gold in 1801, by 2016 your investment would have been worth only $54.

Building Products, Personal Finance & Salsa Dancing are my passions