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 taking a break from podcast production and traveling the globe.
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.
The first episode we’re bringing back is part one of a two-part interview with Andrew Hallam, a teacher who became a millionaire in his 30s and reached FI in his 40s.
How? Beyond investing small sums (we’re talking less than $100 per month) throughout college, he also saved half of his starting salary of $28,000.
Yes, you read that correctly. This episode is awesome for anyone who thinks it’s impossible to reach FIRE on a low salary.
I originally interviewed Andrew in January 2017, and we could not stop talking. Which is why our three-hour interview was divided into two parts.
In this first part, Andrew shares his story – how he became a millionaire, and why he wanted to achieve FIRE in the first place.
He also shares three principles from his book, Millionaire Teacher: Nine Rules of Wealth You Should Have Learned in School:
- Rule 1: Spend like you want to grow rich. (Don’t waste money on junk.)
- Rule 2: Use the greatest financial ally you have. (Time.)
- Rule 3: Small percentages pack big punches. (Avoid high-fee funds.)
As for the other six, they’re coming up in Part 2. 🙂
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
- John Oliver episode on Expense Ratios
- Moneychimp.com
Connect with Andrew:
- Andrew’s blog
- Millionaire Teacher on Facebook
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