Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew Hallam includes the 9 rules that International teacher Andrew Hallam used to amass a million dollar portfolio.
I've found that many school teachers are befuddled when it comes to looking at retirement planning and investing. This book is practical (the opening 32 pages should be a must read for everyone who wants to have any money.)
We've all got to make better use of our money, spend less and save more. But we also have to get a better return on what we are saving.
Who Should Read Millionaire Teacher
If you're making financial decisions for you and your household and are on a fixed income (like teachers), this is a great book for you. If your hobby is making and investing money, some of these topics might seem a bit elementary, but if you're not making money like you want to, pick it up.
Caveats for Readers of Millionaire Teacher
If you want get rich quick and never make sacrifices mentality, don't read this book. I would argue that getting rich quick without hard work is rare, especially for those on a teacher's income.
“Responsible spending habits are often overlooked by people who want to be rich… If your'e a young person starting out and you see someone with the latest expensive toys, think about how they might have acquired them. Too many of those items were probably bought on credit-with sleepless nights as a complementary accessory. Many of those people will never truly be rich. Instead they will be stressed… By learning how to spend like a rich person, you can eventually build wealth (and material possessions) without the added anxiety. You don't have to live like a pauper to do it either…” page 17
Your financial planner may not like you reading this book as he does show you how to slash costs of hiring people to manage your money (who often take more than they give in advice.)
This is a book written by a real teacher but also note that he was an international teacher who often make a bit more money than those of us do who teach in our native country and also they can have perks including housing. (I've even known some who had a maid and gardener thrown in as part of their compensation package.) In other words, he may have made a bit more than you and me — the principles are still sound, however.
My Recommendation on Millionaire Teacher
If one of your New Year's Resolution is to be a better money manager, let this book be the next one you read (and perhaps consider Dave Ramsey's Financial Peace University). If you're not serious about making the most of the money you make, don't read this book.
As for me, more astute money management is a goal of mine and so this book stays by my chair in the den so I can better understand and reread parts that seem a bit complex.