Not everything I read is for pure pleasure, though personal development books do tend to fall under that category for me most times since they’re actually a lot of fun. When Cryptocurrency began to gain traction this year and was being talked about all over the place, I decided to look into old school stocks. I’m not always patient, but when it comes to money I’m a fan of slowly putting some away over time until you look back 20 years later and see what has amassed. This book, Millionaire Teacher, looks at something called Index Funds that you can invest in to do just that. Index funds are little bits of all sorts of publicly traded stock. Instead of buying into just one company (that might fail) you buy small bits and pieces of many companies. Some fail, some do well. It boats a 10% return each year, so depending on what you invest, you could gain a fair amount. It takes time, but you don’t have to be a stock market wizard.
The book was great at explaining the ins and outs of this method of making money to me – but the author also spent a whole lot of time talking about things that could have been summed up faster, or just left out all together. I did like the way they explained how to think about money, the information they had about fancy cars, and little useful tidbits here and there.
Do I think it will make me a millionaire? Probably not. I think people who read this book and assume they will get the exact same results need to step back and take a little bit of caution. Sure, if you’ve been investing since you were a child, you can certainly amass a good amount of money over the years – but most of us are well into our 30s or even 40s before we start to suddenly realize that ‘saving money’ each pay is a good thing. I don’t know about everyone else, but in school I didn’t learn anything useful about budgeting, or how to actually function in the real world when it comes to money. It’s something that could have really helped me out.
Overall? I don’t regret spending any time reading this, I learned a lot, and I feel like less of a dunce when it comes to money and investment.