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Pension/saving money while teaching abroad

Discussion in 'Teaching abroad' started by Mrs_St, Nov 13, 2018.

  1. Mitochondria1

    Mitochondria1 Occasional commenter

    Pffft, and he wrote the same book three times giving simple advice found on The Fool or the like...
     
  2. gulfgolf

    gulfgolf Established commenter

    I'm a fan. The man isn't a god, but the truth is that people (lots of people) really need to hear what he's offering. He's not the only one offering it, but he does get the word out to a specific group of people that aren't often getting good advice on financial planning. If you look at who's targeting international educators, it boils down to basically him and predatory "advisors" hawking high-fee investments. It's not hard to choose between those two options! Except if teachers are only hearing from the high-fee guys, they are relegated to choosing between doing nothing or signing up with the smooth talkers.
    Hallan provides inspiration as well as a simple strategy. People need that too.
    Here's my question, for those of us who have gotten serious and tackled our retirement planning head-on: what are we doing to help those around us? Every school I've been in has had a crowd of teachers who didn't seem to be doing anything about planning for the future (unless you count saving for Christmas break as "the future"). So many people have said things about not wanting to worry about it now, not knowing who to trust so not even trying, etc. How many comments are there the week before payday about being short on funds, month after month?
    We can run down Hallan or predatory advisors or the government's inadequate provisions, but at the end of the day, we have a responsibility to sort ourselves. And if we manage that, we should offer a helping hand to those around us.
     
    Helen-Back, motorhomer and TusitalaH like this.
  3. kemevez

    kemevez Occasional commenter

    Nobody is running him down.
     
  4. the hippo

    the hippo Lead commenter Community helper

    Dear gulfers, perhaps you are right (you usually are) and this Hallam chap does give some good financial advice in his book. Yes, I am quite willing to concede that he probably does. My gripe is that he seems to get endless free publicity on this TES forum and I (perhaps mistakenly) was under the impression that this was not permitted.

    As for offering a helping hand, I am always telling everyone about Bulgaria and how much cheaper it is, compared to Rip-Off Britain.
     
    gulfgolf likes this.
  5. TeacherMan19

    TeacherMan19 Occasional commenter

    Is Bulgaria cheap, Hippo? Do you have any information on living in Bulgaria? Perhaps a link to a blog written by someone who is familiar living there with a house in the countryside and an apartment in the city.

    Do you maybe know where I could find this info? ;)
     
    Helen-Back, gulfgolf and frodo_magic like this.
  6. makhnovite

    makhnovite Established commenter

    My gripe with him and his fans is that they talk as if they are letting us in on some big secret to which only they are privy. None of what he says is new or different, if you do a little research!!! They also proselytize as if he and his works are on a par with the second coming!!!

    'we should offer a helping hand to those around us.' I agree with gulfers about helping others in our area of expertise but over the years I have done it quietly and personally rather than get out my loud hailer!

    'Dear makhnovite, I thought that I was the only one!' - Never, O legendary one!
     
  7. clovispoint

    clovispoint Occasional commenter

    All the information is there for those willing to look- however it amazing how many people are completely clueless about managing money. You can't assume everyone has interest, awareness, knowledge or will to get on with it. There are numerous other books and websites about index investing but few written specifically for people in our position- if you know of any, please do let us know
     
  8. the hippo

    the hippo Lead commenter Community helper

    Since you have brought up the subject,Teacherman19, it just so happens that I myself have written a blog called bulgariawithnoodles.blogspot.com
     
    TeacherMan19, lottee1000 and gulfgolf like this.
  9. gulfgolf

    gulfgolf Established commenter

    Others are expressing my point better than I did, thanks for that.
    For the newbies, for those who are unsure, for those too tentative to take any steps because they aren't sure which ones to take, even for those who have done something but perhaps not enough or not the right thing ... that's who Hallan is for. He's not sharing a secret, he's just breaking down financial planning so that we can all access it. He's giving everyone a chance to take good steps in the right direction.
    If you're already a financial genius, he probably has little value to add. But the people who write in to this forum on a regular basis, they need a starting point. Hallan has a good starting point.
     
    motorhomer and clovispoint like this.
  10. Helen-Back

    Helen-Back Occasional commenter

    "My gripe with him and his fans is that they talk as if they are letting us in on some big secret to which only they are privy."

    I think its actually the opposite of this. This is info for the masses, if only they would listen. At no point have I heard Andrew allude to this being some unique system. He often quotes and pays homage to his elders (Malkiel, Ellis, Bogle, etc). All Hallam does is synthesize and summarize what went before, then packages it in a form that is user friendly for the financially under-educated expat, which from what I can see is about 80% of international teachers

    But hey, we all know sticking all your eggs in one basket is never a good idea. Diversify, diversify diversify. I have three eggs, but each is in a separate basket.
     
    motorhomer, clovispoint and gulfgolf like this.
  11. 576

    576 Established commenter

    This is just it. He uses a lot of analogies and clear language to make investments clear to those of us who didn't understand and were daunted by them.
    Making things accessible to people, should be a skill that teachers value in others, but apparently not.
     

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