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Andrew Hallam: Millionaire Teacher-next steps?

Discussion in 'Teaching abroad' started by salamandes, Dec 11, 2018.

  1. salamandes

    salamandes New commenter

    Hello.

    I know that this book has been covered before in these refined and erudite circles. Having read the book (and knowing nothing about investing beforehand) I now have a clear idea of what I want to invest in and how I want it to be managed.

    SO my question is...if you have read the book and decided to invest in a balanced portfolio as described by Andrew-what were your next steps?

    I am in the Middle East and looking to invest about £1500 sterling on a monthly basis.

    Apologies if this has been covered before. Succinct and relevant replies most welcome. Thank you.
     
  2. gulfgolf

    gulfgolf Established commenter

    Doesn’t his book suggest that?
     
  3. salamandes

    salamandes New commenter

    Thank you- yes-let me rephrase.

    How have people done this? Is there a recognised brand or bank who people have used to put together a balanced portfolio as described in the book?

    Preliminary research has shown that some services are prohibitively expensive in terms of needing deposits of £50k sterling to be accepted before you begin to put together your portfolio.

    One company (platform?) seems to have regular articles written by Andrew on their website; I am sure they would not claim this as an endorsement or advice and warn potential investors their capital is at risk...but perhaps it is a clue?

    I won't name names of companies as assume similar rules apply as per schools on this thread?

    Thank you for the quick response.
     
  4. 576

    576 Established commenter

    You should read the follow up.
    The millionaire expat.
     
  5. sparklesparkle

    sparklesparkle Established commenter

    I would strongly advise posters not to mention companies or products by name.

    Worst case scenario, this person loses all their money and tries to sue you and/or TES.

    If you don't want to put your own portfolio together, there are mass-market companies that will do it on the cheap. If you can't find those for yourself, I would suggest you should not be investing at all and should just keep it in a savings account.
     
  6. gulfgolf

    gulfgolf Established commenter

    His most recent book suggests companies to work with.
     
  7. james_1979

    james_1979 New commenter

    The concept in question sounds very much like the Australian superannuation scheme. Where members can opt for a high growth, growth, balanced et al. All tentatively are portfolios, when broken down has local and international shares, property, new projects, cash etc. But you don't own these shares just the 'bundle' until you are of retirement age.

    The book has sound advice BUT to invest more than 80% of your total monthly savings has its own risks. Of course, it would be amazing to have £€$1m but essentially if you do make the decision to take the book's advice it would also be good for you to meet with an experienced hedge or fund manager.

    Personally. I have a (paid off) property. A superannuation (yes, an Aussie) and put 11% of my salary yearly. And cash savings. Will it get me a million? Let's see in 25 years time.
     
  8. gulfgolf

    gulfgolf Established commenter

    The book strongly advises to stay far away from hedge funds and managers. The strategies contradict each other.
    Low cost index funds versus high cost “guys who can predict the future”.
    Whenever someone tells me they can predict the future, I do wonder why they aren’t already retired instead of hawking their wares.
     
  9. Mickyd197se

    Mickyd197se Occasional commenter

    gulfgolf - What strategies contradict each other? You only mentioned one.

    To be fair to Hallam, he has retired from teaching and is hawking his wares. Your comment about retirement has no coherence with how people act. Or do you think people make some money and then just retire? Who does that? Almost nobody. Billionaires don't retire.

    What he says might very well be dismissed, but not simply because he's saying it which means he can't be a success as he should have retired as soon as he made money and never be heard from again.
     
  10. LCass

    LCass New commenter

    We went with a Share-dealing account from the bank named after Nova Scotia's principal capital, which allows us to invest directly into the funds advised in the book.
     
  11. gulfgolf

    gulfgolf Established commenter

    Hallam isn’t grubbing for money. His books probably make very little, the same as almost every other book out there, Harry Potter excepted. He doesn’t charge fees to visit schools or meet privately with teachers, though he does appreciate a spare bedroom to stay in during his visit. He doesn’t make a dime if you follow his advice or buy through the brokers he recommends. (Entirely in keeping with his cheap habits described in the book, he is keeping down costs as he travels the world in retirement. Not the same as making money.)
    Contrast that with almost any broker or brokerage. Very different.
     
  12. Helen-Back

    Helen-Back Occasional commenter

    If you mean the Nova Scotia bank in the UK, doesn't that expose you to capital gains when you sell?
     
  13. ejclibrarian

    ejclibrarian Established commenter Community helper

     
  14. gulfgolf

    gulfgolf Established commenter

    A fee? He's offered to come to two of my schools so far, no fee. Just a spare bedroom and contributing to airfare, shared with other schools on the itinerary. It was very little.
     
  15. ejclibrarian

    ejclibrarian Established commenter Community helper

    I ca only tell you what my experience was.
     
  16. clovispoint

    clovispoint Occasional commenter

    You are not liable to capital gains on UK assets (other than property) if you are non-resident.

    "If you’re abroad
    You have to pay tax on gains you make on residential property in the UK even if you’re non-resident for tax purposes. You do not pay Capital Gains Tax on other UK assets, for example shares in UK companies, unless you return to the UK within 5 years of leaving.:"

    https://www.gov.uk/capital-gains-tax/what-you-pay-it-on
     
    Helen-Back likes this.
  17. salamandes

    salamandes New commenter

    If you can't find those for yourself, I would suggest you should not be investing at all and should just keep it in a savings account.

    Noted.

    You know-compared to others on this thread- you do come across as a bit of a muppet.
     
    Helen-Back likes this.
  18. salamandes

    salamandes New commenter

    Thank you to the others who have contributed succinct and relevant information; I really appreciate it.

    I was unaware that Andrew spoke on his own circuit and the fact that Millionaire Expat is a follow up text is also new to me.

    I will look into this further in the new year and hope to learn more then.

    Thanks all.
     
  19. Capricorn2412

    Capricorn2412 New commenter

  20. Reception123

    Reception123 New commenter

    The problem with share dealing is the commission. It eats your profit if the commission is too high. We use a company based in the Netherlands ( Two letters followed by Giro) for share-dealing and so far have been happy with them. They also have a branch in the UK.
     
    Wannabsupawoman likes this.

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