Millionaire Teacher oh Millionaire Teacher

Hallam’s 9 Rules of Wealth
Rule 1 is to spend like you want to grow rich, which means cultivating frugality whether buying homes, cars or daily items.
Live frugal, I am living frugal now. Example, I bought a shoes with a 50% discount which cost less than RM 50.

Rule 2 is to take advantage of compound interest by starting investing as early in life as possible — but only after high-interest debt is eliminated. 
Invest now. If you don't know what to invest, REIT is the better option. If you want to know more, you can try http://reitmethod.com/.

Rule 3 recaps the negative impact of high fees and thus the case for indexing: “Small percentages pack big punches.”  Here he takes a skeptical view of the motivations of the financial services industry generally.
I agreed. I seldom buy UNIT TRUST because they earn your money 1st before they help you earn money.

Rule 4 is to “Conquer the enemy in the mirror.” It looks at the problems of stock-picking and market timing, fear, greed and other emotions that can sabotage investing.
This is long term lesson to learn. I am still learning although I already have more than 10 years experience in stock market.

Rule 5 is to build a “responsible portfolio” that includes both stocks and bonds. Here Hallam introduces what he terms the Couch Potato Portfolio.
My portfolio only have stock, I think it is very difficult for malaysian to buy bond unless you are an institutional investor.

Rule 6 looks at indexing in the U.S, Canada, Australia and Singapore.
I must learn to buy Singapore stock.

Rule 7 is entitled “Peek inside a pilferer’s playbook.” It looks at common sales practices of financial advisors and brokers. He starts by suggesting that those planning to own their own indexed account at a discount brokerage may want to find a fee-only adviser who can set it up for you.
I am using mplus which offer the lowest brokerage.

Rule 8 is “Avoid Seduction,” and looks at the various distractions that some term “financial pornography” — investment newsletters and magazines, junk bonds, gold and hedge funds, which Hallam describes as “the rich stealing from the rich.”
I always diverted by "rumours". This one must learn.

Rule 9 is for those who love to pick their own stocks if “they can’t help themselves.” Hallam’s solution is to stay 90% indexed but to allocate 10% to individual stocks if you find it enjoyable.
I think index stock is ETF. But Malaysia ETF sucks. Most of my portfolio is individual stock.

For more, see his web site here.