Comments on: The Millionaire Teacher Review

By: Anita

Anita — Sun, 17 Oct 2021 17:15:25 +0000

Great review! I enjoyed his first book so I’ll be interested in reading his second and compare what I have been doing on Questrade with etfs to his suggestions. I am a teacher as well and although we are not paid to become millionaires easily, I remember reading that he said since teachers are lifelong learners we can easily learn to build wealth.

As an aside, I came across this link about can teachers become teachers and there was nowhere to share a comment so I thought I would indulge here… Basically he says the average US teacher earns $60G and then he goes on to do all the math about contributions of 27% of salary with compound interest… The biggest mistake: he assumed the teacher earns $60G a year for life when it takes 10+ years and additional qualifications to make it to the top of the grid. I found that amusing. 🙂

By: Barry Choi

Barry Choi — Tue, 17 Jan 2017 13:46:01 +0000

In reply to Vito. Hey Vito, I think once you actually start doing things, then it'll be much easier than you realize. Just recently I started to use Noerbert's Gambit which on paper really intimidated me, but once I actually did it, it was so easy.

By: Vito

Vito — Tue, 17 Jan 2017 04:28:02 +0000

So glad you liked the 2nd Edition, I actually contacted Andrew about how I felt empowered after reading his book (thanks to your recommendation), but also told him I had to be honest and also told him that it left me feeling like I don’t know what to do next. I understood the why, but how exactly do I set his/your principles in motion, “exactly”.

I was honest with him and told him I already had a Questrade account, and he clearly indicates in his 1st ed. book which index ETF to get, but the book just left me feeling not-confident. Surprisingly, he replied back to me and told me about his 2nd edition, which I had no idea was in the works, but so glad there was one because I couldn’t put his first book down when I started it. Around this time, I had been an indigo chapters points collector and they had a sale, so I took advantage and bought his book.

I just finished reading Preet’s book (I enjoyed his read) and now I am about to start the 2nd ed. of Andrew’s book and your review also mentions Questrade! I had originally planned on reading (and still do) “The value of simple” because I know you had recommend him if you wanted a step by step approach on “how” to do this, which is exactly at the point I am now. So, I’m hoping after reading the 2nd ed and The value of simple I will feel more confident.

I want to learn about re-balancing better (I know there are spreadsheets, but needed an explanation) and just more tangible specifics on the HOW.

Thanks again for the review Barry!