Millionaire Teacher at HoCo Library

   

      Andrew Hallam had a goal of becoming a millionaire by the time he was 40.  While this may not be an ambitious goal for a wall street trader or someone playing a professional sport it is seemly a stretch for a public school teacher.  Tonight at the Miller library the 9 rules of the book written by Andrew Hallam will be discussed by Robert Wasilewski of RW Investment Strategies.  This is part of an eight week class hosted by the library.  I made the mistake of not posting this blog on tonight's session earlier as the session registration is full.  So here are some of my thoughts on the topic.
        While I have not read Mr. Hallam's book I am always amazed at the popularity of books designed to make a person wealthy.  When you look at the best sellers list on any given week you can count on seeing books on making money, how to succeed in business or how to lose weight.  All are sure fire book sellers.  Why do we need a 300 page book to tell us how to become financially secure or achieve our ideal weight?  To reach our ideal weight all we have to do it use more calories than we take in.  To achieve financial security we have to spend less money than we earn.  It is as simple as that.  To think you can eat all the chocolate you want and lose weight or buy homes with no money down and become rich you are just being a sucker for someone making money off you naivety.  I am no financial advisor but here would be my 3  rules to become secure financially:
1) Set up an automatic deduction from any income source that automatically goes into a savings account.  This is a rainy day account.  When you pay off any debt, like a car loan, student loan or house mortgage, pay yourself the same amount into this savings account and start paying cash for things for which you used to borrow.  Any raise or unexpected money goes into the savings account.
2) Set up an automatic deduction from any income source that automatically goes into a Roth IRA or some other conservative investment plan.
3) Pay off credit card bills every month or stop using credit cards.
4) Work out a monthly budget that only spends the money you have left after doing the first two rules.

     You may not be a millionaire by age 40, especially is you start the plan in your 30's, but money will not control how you live your life.  And there maybe more time to enjoy your life when your are not spending all your time earning more money to pay off your debts.
 

From the Library:

"The Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

This low-key, novel learning experience combines in-person and online sessions to delve into Millionaire Teacher by Andrew Hallam. Each week, participants can discuss a chapter of Hallam’s book online and learn how the teacher built a million-dollar portfolio before he turned 40. Participants may borrow Millionaire Teacher for the entire eight-week class. Participate at your own pace on the discussion blog. Registration includes all sessions. For adults and high school seniors. Presented by Robert Wasilewski, President of RW Investment Strategies."

Introductory session: Jun 20 (Thu) 7 - 8:30 pm, Miller Library in Ellicott City
Midway session: Jul 23 (Tue) 7 - 8:30 pm
Blog available beginning Jun 20 at http://tinyurl.com/MillTeacher
You Tube http://www.youtube.com/watch?v=hQDf9konzeU
In partnership with Howard County Financial Education Alliance.

   Registration for these sessions is closed by you can still attend.  All this means is that you can't get one of the books available tonight.  You can just buy a book on your own at Amazon.

P.S.
Now for that chocolate diet..........