It’s September! If you’ve been listening to the show for the past few months, then you know that I’m on what I’ve dubbed my September Sabbatical, in which I’m traveling the globe and taking a break from podcast production.
In light of that, we’re digging through the archives and airing some of my favorite interviews on the show, in between airing interviews I’ve done on other podcasts.
If you missed the last episode, you might want to listen to it before diving into this one, as Andrew and I go into the finer points of investing here.
Seriously. This is one of the most in-the-weeds shows I’ve done to date.
If you’re playing catch up: Andrew Hallam is a teacher who became a millionaire in his 30s and reached FIRE in his 40s. His starting salary was $28,000 – net.
If you want to know how he did it, and what his first three rules of building wealth are, then listen to episode 212.
Otherwise, tune into this episode, where we review his six other rules that can turn middle-class people into millionaires:
- Understand your inner psychology. Conquer the enemy in the mirror.
- Learn how to build a balanced, responsible portfolio.
- Create an indexed account, no matter where you live.
- Don’t resign yourself to taking this journey alone.
- Inoculate yourself against slick sales rhetoric.
- If it sounds too good to be true, it probably is.
While these rules sound simple on the surface, Andrew and I go way beyond that, talking about hedge funds, human psychology, and casinos.
This was a favorite among listeners back in 2017 and it’s one of the most enjoyable interviews I did. I hope you enjoy!
P.S. – We’ll return to our regular podcast production schedule in October!
Resources Mentioned:
Books:
- Millionaire Teacher, by Andrew Hallam
- The Investor’s Dilemma, by Louis Lowenstein
- Your Complete Guide to Factor-Based Investing, by Larry Swedroe and Andrew Berkin
- A Random Walk Down Wall Street, by Burton Malkiel
Websites:
- HFRX Hedge Fund Indices
- SPIVA Performance Scorecard
- Portfolio Visualizer
- The Hulbert Financial Digest, from Mark Hulbert
- Moneychimp
- HowJSay — pronunciation guide
Connect with Andrew:
- Andrew’s blog
- Millionaire Teacher on Facebook
Thanks to our sponsors!
Radius Bank
Do you want your money to make more money? Then check out Rewards Checking, from Radius Bank. You earn 1.00% APY on balances of $2,500 and up, there are no fees, and it offers unlimited one percent cash back on debit card purchases. To get started, head over to radiusbank.com/paula.
Freshbooks
Save time by using Freshbooks, an easy-to-use, cloud-based accounting system that takes the stress and hassle out of bookkeeping and, especially, invoicing. You can create an invoice in a few seconds, and Freshbooks’ automated system will handle the rest. Visit Freshbooks.com/paula for a free 30-day trial. Please mention this show when they ask how you heard about them.
Mighty Networks
Have you been looking for a way to centralize your community? Mighty Networks is an awesome platform that helps like-minded people find and connect with each other. The best part is, it’s super simple to get your community up and running with it. We know because we went through the process ourselves (check it out!). Get three months free when you sign up for a year by going to mightynetworks.com/paula.
Brooklinen
Brooklinen has luxury sheets, towels, begging, and more without the luxury markup – which can be as much as 300 percent. With over 20 colors and patterns to mix and match, you’ll find something that complements your home. Get 10% off and free shipping – go to brooklinen.com and use promo code paula.
