9 Rules to Becoming a Millionaire, with Andrew Hallam | Afford Anything Podcast (Ep. #60)

Andrew Hallam grew a million-dollar investment portfolio on a schoolteacher’s salary … by his mid-30’s.

Wow.

He’s read more than 400 books about investing and money management, and he’s whittled decades of knowledge and experience to nine basic rules.

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..

— Paula

Resources Mentioned:

Books:

Millionaire Teacher, by Andrew Hallam: http://amzn.to/2kf4T8i
The Investor’s Dilemma, by Louis Lowenstein: http://amzn.to/2jTpiyr
Your Complete Guide to Factor-Based Investing, by Larry Swedroe and Andrew Berkin: http://amzn.to/2jTrmqk
A Random Walk Down Wall Street, by Burton Malkiel: http://amzn.to/2kPcCJM

Websites:

HFRX Hedge Fund Indices: https://www.hedgefundresearch.com/fam...
SPIVA Performance Scorecard: https://us.spindices.com/documents/sp...
Portfolio Visualizer: https://www.portfoliovisualizer.com/
The Hulbert Financial Digest, from Mark Hulbert: http://hulbertratings.com/
Moneychimp.com: http://www.moneychimp.com/
HowJSay — pronunciation guide: http://howjsay.com/

Connect with Andrew:

Andrew’s blog: https://andrewhallam.com/
Millionaire Teacher on Facebook:   / millionaireteacher  

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