8 December 2011

Millionaire Teacher Book - a short review

Read this book recently, Millionaire Teacher: The 9 rules of Wealth you should have learned in school by Andrew Hallam. Bought it at Harris for $25+

I have not bought a book for a long while, all the time preferring to borrow it from the library. This book proved to be illusive and is not easily found in my few attempts at the neighbourhood libraries, forcing me to part with my cash.

So, was it worth my money and time? In a way yes, though the 9 rules are repetitive and can be compressed into lesser rules. His main thesis seemed to be: don't buy Unit trusts, but ETFs, and he would give his reasons over and over again.  I like his Singapore practical examples of which ETFs to buy, the percentages for the basket of funds and where to get them from.

The other insights that I gathered from his book are summarised in my back of envelop recording, listed here:
1) Check out www.vanguard.com, a non-profit world biggest provider of index funds
2) Bond allocation: buy at a percentage of your age minus 10
3) Recommend to buy S&P 500 Exchange Traded Index Fund from DBS Vickers
4) His recommendation for Singaporeans: buy S'pore Bond Index, S'pore Stock Mkt Index, World Stock Mkt Index.
5) His recommendation for books to read: 4 Pillars of Investing by William Bernstein; A Random walkdown Wall Street by Burton Malkiel; Common Sense on Mutual Funds by John Bogle.

In summary, I think it may be worthwhile to borrow it from the library to read this book.

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