Andrew Hallam (Part Two): The Nine Rules of Wealth You Should Have Learned in School

Published: Jan. 16, 2017, 7 a.m.

#60: Andrew Hallam grew a million-dollar investment portfolio on a schoolteacher's salary by his mid-30's.\n In his bestselling book,\xa0Millionaire Teacher, he describes these nine lessons in detail.\n He\xa0shares\xa0these nine\xa0rules on\xa0this podcast, and his ideas are so substantive that -- for the first time -- I decided to release his interview as a\xa0two-part series.\n In\xa0last 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\xa0into\xa0millionaires.\n Here's a sneak peek:\n \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#1:\xa0Learn how to think and spend like a millionaire. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#2:\xa0Start investing early.\xa0Time\xa0is your\xa0greatest investment ally. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#3:\xa0Choose low-cost index funds. Small fees pack big punches. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#4:\xa0Understand your inner psychology. Conquer the enemy in the mirror. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#5:\xa0Learn how to build a balanced, responsible portfolio. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#6:\xa0Create an indexed account, no matter where you live. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#7:\xa0Don't resign yourself to taking this journey alone. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#8:\xa0Inoculate yourself against slick sales rhetoric. \xa0\xa0 \xa0\u2022\xa0\xa0 \xa0#9:\xa0If it sounds too good to be true, it probably is.\n 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.\n Enjoy this two-part series, and don't forget to check out Andrew's excellent book,\xa0Millionaire Teacher.\nLearn more about your ad choices. Visit podcastchoices.com/adchoices