ITP - 021: Millionaire Expat and Teacher Investing

Matt: Welcome to the International Teacher Podcast with your host Greg, the single guy, and Matt, the family guy. We're recording episodes from around the globe to tell you about the best kept secret in education. That's right, it's teaching overseas. We're glad to have you.

Matt: Hey boys and girls, fellow listeners, family, friends, international teachers, and whoever else might be catching our podcast—welcome to the International Teacher Podcast. I am your host, the family guy Matt, and with me is…

Greg: Greg, the single guy, and then we've got a special guest, man.

Matt: We do, Greg. You want to tell them about our special guest for the day?

Greg: Well, our special guest is originally Canadian, so we’ll forgive him for that. But I don’t really need to even introduce him. Andrew Hallam is on our show today. Most people know him from his earlier book, The Millionaire Teacher, that came out, I think, in 2014. But right now, recently, he has republished a third edition of that called The Millionaire Expat, and his brand new book is called Balance. Also, he's been busy these days. So welcome to our show, Andrew.

Andrew: Yeah, thanks guys.

Greg: We've been doing it for two years, talking to teachers all over the place. And your book really hits our audience because when you talk about Canadian dollars, US dollars, Australians—you have different sections that really speak out to the people that we teach with. It’s not just a US thing, it’s not just a Canadian thing, and I really enjoyed reading that.

Greg: I didn’t read every one of those sections because I don’t have Canadian dollars or Australian dollars, right? But I really enjoyed the overall book and it spoke to me.

Greg: And I’ll tell you—maybe I’m getting your two books mixed up—but I actually dodged a bullet with one of those financial guys. I just stopped paying them. I didn’t know anything about it at the time, but your book really spoke to that.

Matt: Greg, you sound like you need a life. I’m throwing that your way, buddy.

Greg: What do I not like to talk about in life usually?

Matt: That would definitely be money. That’s a topic Greg would tend to avoid if he could at all costs.

Greg: My mom would agree, and so would my dad.

Matt: Andrew, one thing Greg left off—your book was the number one finance book not only on Amazon USA, but Amazon Canada and Amazon UAE as well. As far as we know, that’s the only finance book to be able to do that. So congrats on that. That’s huge.

Andrew: Thanks, Matt.

Matt: So Andrew, to start off, I know there’s always kind of an evolution. Was there a certain catalyst in your life or career that got you focused on money or got you overseas in the first place?

Andrew: For me, money is just a tool. I don’t love money. I don’t love investing. I think it’s wrong to love money and investing. But I love life.

Andrew: It’s that recognition that one day we’re all going to be dead. We’ve all got this terminal illness—we just don’t know when the clock’s going to strike midnight. So for me, the prime motivation for building wealth was about lifestyle.

Andrew: Being able to take time off work if I wanted to. If I wasn’t fully financially independent early on, I still wanted to be able to take sabbaticals.

Andrew: I started teaching in a public school in British Columbia, and I took a deferred salary leave. The school district would take a portion of your salary. For me, I did what was called a three-in-one. They took 33% of my income for three years, and in the fourth year they gave it back monthly and I had a full year off.

Andrew: So I chose to travel. I thought in one year I could see the world. I was very naive, but I saw a lot.

Andrew: While I was in Morocco, I got an email from the principal at the school I had been teaching at. He had taken a job at Singapore American School and asked if I was interested.

Andrew: I met the superintendent at a job fair, and I ended up getting the job. I taught there for 12 years.

Matt: That’s incredible. For people who haven’t read your book, one of the things you’ve done is take a complex topic like money and boil it down into something simple and relatable.

Matt: What was your first big lesson with money where you realized, “Okay, I’m onto something here”?

Andrew: When I was 19, I worked at a bus depot. I was driving buses through a wash station, fueling them, parking them. There was a mechanic there who people said was a millionaire.

Andrew: I didn’t believe it. But one night he pulled me into his office and asked me, “What would you do if I gave you $10,000 right now?”

Andrew: I thought he might actually give me money. But he was testing me. I said I’d pay off student loans.

Andrew: He said that was acceptable. Then he taught me about compound interest.

Andrew: He told me, “If you do nothing else, invest $100 a month.”

Andrew: I told him I couldn’t afford it. He pointed out I was spending that much on junk from vending machines.

Andrew: He showed me that if I invested that amount, I could have a million dollars by retirement.

Andrew: That blew my mind. I realized I could have money working for me instead of always working for money.

Matt: So if I’ve got this right, for someone listening who wants to get started, the first step really is just setting aside a fixed amount every month and sticking to it?

Andrew: Yeah, setting aside a small amount every month is key. But I’d add that if someone has debts—especially debts charging five percent or more—they should prioritize paying those down first.

Andrew: For example, credit card debt can be 18 to 20 percent interest. You’re not going to beat that in the stock market long-term, so paying that down is like getting a guaranteed return.

Andrew: So it’s a bit nuanced. If you have high-interest debt, focus on paying that off. But at the same time, you can start investing a small amount just to build the habit.

Andrew: Even if it’s just $100 a month, that habit is powerful. Once the debt is gone, you can redirect more money into investments.

Greg: Okay, so let me throw a scenario at you. This might hit some teachers in lower-paying regions. I’ll use myself as an example.

Greg: My first year overseas, I made about $12,000. I was getting maybe $500 a month in US dollars and living on local currency. For someone in that situation, where do they put that money? Do they just save it until they have enough, or do they invest it right away?

Andrew: That depends heavily on nationality and what options are available. For Americans, for example, they can open an account with Interactive Brokers. If they already had a Vanguard account before moving overseas, they might still use that.

Andrew: There’s also a guy named Mark Zoril from a company called PlanVision. He helps people set up accounts for a relatively low annual fee—around $189 a year. He walks people through the process step by step.

Andrew: What he does is incredibly helpful, especially for expats of different nationalities. He helps them open accounts, shows them what to buy, and how to purchase investments online.

Andrew: This approach is much more efficient than hiring a financial advisor. Many advisors—especially those targeting expats—are essentially salespeople pushing high-fee products.

Andrew: It’s far better to learn how to do this yourself, with guidance if needed.

Andrew: For example, if you’re British, you might not want to use a US-based brokerage due to tax complications like estate taxes. In that case, you might use something like Swissquote or Saxo Capital Markets.

Andrew: So while the details vary by nationality, the core principle is the same: own low-cost index funds that track global markets.

Greg: I love that. Because it shows that even if you’re making very little, you can still get started early.

Greg: If I had known this 20 years ago when I was in Honduras, I’d have a much bigger nest egg now. Just starting with $100 a month would have made a huge difference.

Greg: And I really appreciate how your book lays that out so clearly. It’s simple, but powerful.

Greg: And I’ve got to say, those financial guys you mentioned—I ran into one of those in Venezuela. I almost got sucked into it.

Greg: Reading your book, I realized how close I came to making a really bad decision.

Andrew: That’s exactly why I wrote it. There are so many financial salespeople targeting international teachers. They often get invited into schools to sell their products, but those products are terrible.

Andrew: They earn massive commissions, and the products lock people in for 25 or even 30 years. If you try to get out early, the penalties are huge—sometimes you lose everything.

Greg: That makes so much sense now. The guy I met was incredibly charismatic. He sponsored school events, golf outings… I see now it was all about making the sale.

Andrew: Exactly. It’s a small investment for them to gain access to a group of potential clients.

Andrew: But these products are so fee-heavy that, after inflation, returns are often close to zero. The only person who really benefits is the salesperson.

Andrew: I actually went on a big speaking tour in 2017, visiting international schools to warn teachers about these products. I spoke in 13 countries at 90 different schools.

Andrew: I didn’t even charge for those talks. I just wanted to get the message out.

Andrew: I would show these products on screen and explain exactly how they worked. It was especially important for British teachers, who are often targeted by these schemes.

Andrew: In some cases, Americans get hit even harder because of IRS rules on offshore investments. If they don’t report things correctly, they can face serious penalties.

Andrew: So yeah, it became a bit of a mission for me.

Matt: That’s incredible. And I think a lot of administrators need to be aware of this too, since these advisors often get invited into schools.

Greg: Yeah, they come in offering to sponsor programs, but really they’re just setting up opportunities to sell.

Andrew: Exactly.

Matt: Let’s transition to your new book, Balance. Do you want to give listeners a quick overview of what it’s about?

Andrew: Sure. In Balance, I talk about money as a tool and redefine success in a more holistic way. Traditionally, people think success is having money and a great career. But real success is life satisfaction.

Andrew: When you ask people why they do anything—run a marathon, get a degree, buy something—and keep asking “why,” it eventually comes down to wanting to feel happy, secure, or purposeful. That’s all life satisfaction.

Andrew: So I break success down into four pillars: money, relationships, health, and purpose. You need enough money for basic needs and some experiences, but you also need strong relationships, good health, and a sense of purpose.

Andrew: For example, someone with a lot of money but no purpose might not feel fulfilled. So Balance explores how these four elements interact and how money fits into that equation.

Andrew: I also challenge the idea of deferred gratification. People think saving means suffering when you’re young so you can enjoy life later. But that’s not true.

Andrew: There’s something called hedonic adaptation. When you buy something—like a car or a phone—you get a short-term boost, but then it just becomes normal. That happiness fades quickly.

Andrew: Psychologists like Daniel Kahneman talk about reflective happiness versus experiential happiness. Reflective happiness is what we think will make us happy. Experiential happiness is what actually does.

Andrew: Material things rarely improve long-term happiness. In fact, they can lead to a cycle where you keep buying more to chase that feeling.

Andrew: Instead, spend money on experiences, relationships, and giving. That not only improves your life but often allows you to save more and even reduce your environmental impact.

Matt: That’s a huge concept. One part I really liked was the desert island test. Can you explain that?

Andrew: Sure. The idea is to ask yourself: if no one else could see this item, would you still buy it? If the answer is yes, then it has real value to you. If the answer is no, then it’s probably about status.

Andrew: A lot of purchases are driven by wanting others to see what we have. But if you strip that away, you can make better decisions.

Matt: You also gave the example of your friend with the Porsche.

Andrew: Yes. My friend always wanted a Porsche. He became a lawyer, paid off his loans, and bought one. But when it arrived, he hesitated to pick it up.

Andrew: When he finally got it, he barely drove it. He actually felt embarrassed. Eventually, he sold it.

Andrew: It shows that sometimes what we think will make us happy doesn’t actually deliver.

Andrew: And often, when we display wealth, it doesn’t impress people—it can even create envy or distance.

Andrew: There’s a great example from a town called Roseto in Pennsylvania. Researchers found that people there lived longer than average. It wasn’t diet or environment—it was strong community ties.

Andrew: When wealth differences started to show more visibly, those community bonds weakened, and health outcomes declined.

Andrew: It highlights how important relationships are to well-being.

Matt: That’s fascinating. So if listeners want to pick up your books, where should they go?

Andrew: Any online retailer or bookstore. You can also find links on my website.

Greg: I’m keeping my scooter, by the way. That’s my one luxury item.

Matt: Andrew, your book actually started me on my own financial journey. It’s practical and something people can actually do.

Andrew: That’s great to hear.

Matt: And as educators, I wonder why we don’t teach more financial literacy in schools.

Andrew: I agree. There are many life skills—like financial literacy and relationships—that aren’t emphasized enough.

Greg: Speaking of life skills, let’s talk about your lifestyle. You’ve been traveling extensively.

Andrew: Yeah, my wife and I bought a camper van and traveled through North and Central America. We planned to go to Argentina but ended up spending about 10 months in Mexico alone.

Andrew: Mexico is incredibly diverse culturally and geographically. Then we continued through Central America.

Andrew: What was interesting was the people we met. Some were living very different lifestyles—raising families in RVs, making music, traveling constantly.

Andrew: Many of them were actually spending less than they earned and investing while living these experiences.

Andrew: We’d be sitting around a campfire with these families, and then the next day I’d fly to speak at a bank or international school in a major city. The contrast was huge.

Andrew: It made me question who was truly more successful—the high-earning executive or the family living simply but fully engaged with life.

Andrew: That contrast was a big inspiration for writing Balance.

Greg: That’s incredible. Quick question—we love funny travel stories. Any police stories from your travels?

Andrew: It’s not uncommon in some places to get pulled over and have officers make up infractions.

Andrew: One time, an officer showed me a photo on his phone claiming I was speeding—over a speed bump. It was completely fabricated.

Andrew: Usually, we stay calm and don’t pay. My wife speaks fluent Spanish, which helps. But one time she got a bit fiery, and we ended up paying.

Andrew: These officers are often underpaid, so they’re looking for opportunities to make money.

Greg: That reminds me of experiences we had in Venezuela. It’s a similar dynamic.

Greg: So are you writing full-time now?

Andrew: Yes, mostly. We’re financially independent, so we don’t have to work, but we still choose to.

Andrew: Work gives purpose. Studies show that people who retire too early sometimes face declines in mental health.

Andrew: So I write, speak, and stay engaged. That balance is important.

Matt: Andrew, I’ve just wanted to be respectful of your time here. We’re so tremendously appreciative of it. I’ve got one more question. As an expat North American overseas, I’ve got a similar background. I was planning to be gone two years, and now I’m on year fourteen. I’m kind of struggling with planning a career change and figuring out how I’d ever go back to the US.

Matt: When you move overseas, it definitely shifts your perspective. So I’m curious—through all your travels, what’s something that’s changed your perspective in terms of relationships with other people and helped you adapt to living overseas?

Andrew: I think I’ve always had a thirst for meeting new people and connecting with others. Living overseas and especially traveling the last eight years, I’ve learned more than I did in my entire teaching career just from the variety of experiences.

Andrew: Meeting people from different cultures has been incredible. My parents recognized the value of that early on. We didn’t come from money—my mom worked retail, my dad was a mechanic—but they saved enough to send me on a trip around the Mediterranean when I was 12.

Andrew: I was gone for a month, and it completely broadened my horizons. From that point on, I always wanted to explore and learn about new people and places.

Matt: That’s powerful. My wife and I talk about that with our boys. Kids who grow up traveling learn so much about relationships and adapting to different cultures.

Matt: As the world becomes more connected, those skills are going to be essential.

Matt: So what’s next for you?

Andrew: We’re not very career-driven in the traditional sense. We like to stay flexible. Right now, we’re in Panama until April. Then we’ll visit family in Canada and spend the summer in France.

Andrew: But everything can change quickly. A friend might call and say, “Come to Bali,” and we’ll go.

Andrew: We’re currently in Panama City with a great view of the ocean and the canal. In a few weeks, we’ll head up to the mountains of Boquete. I love cycling there—just grinding uphill for an hour.

Matt: That sounds amazing.

Greg: Matt and I have both been through Panama. It’s an easy place to spend time. We even toured the canal with a guide from Ukraine.

Greg: And yeah, we learned way more about the canal than we expected.

Greg: I’ll say this—Andrew, your message about balance really resonates. Work hard, enjoy life, and find that balance between the two.

Matt: Absolutely. Whether you’re a teacher or not, Andrew’s ideas are practical and actionable. His books really helped me start my financial journey.

Matt: I’ll definitely be finishing Balance soon.

Greg: I think we should wrap this up and respect Andrew’s time. Thank you so much for joining us.

Matt: This has been one of our best episodes.

Greg: If you have any questions or future topics, you can reach us at [internationalteacherpodcast@gmail.com](mailto:internationalteacherpodcast@gmail.com).

Matt: You can also find us on Instagram at ITPXPats.

Greg: We are on Twitter, but we don’t really use it, so maybe don’t bother.

Matt: This is Matt, the family guy.

Greg: Greg, the single guy.

Matt: And Kent is here in spirit.

Greg: We’ll see you next time.