My review of The Global Expatriate’s Guide to Investing by Andrew Hallam
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This post is related to the list of my top 7 financially inspiring books. This is Andrew’s 2nd book, “The Global Expatriate’s Guide to Investing” last year, which I bought last year before I bought his first book, “Millionaire Teacher” this year (You can find my review of “Millionaire Teacher” here). The author, Andrew Hallam is Canadian and a former expat teacher in Singapore and you may remember I mentioned attending his free investment talk in Dubai.
None of my expat friends had heard about Andrew, so I told a few of my them about him and his recommendations for investing myself via an online platform rather than an expensive stock broker. I told anyone who would listen that they should be wary of using an expat investment provider (who work on high commissions and annual charges) and instead research and invest themselves. Since reading Andrew’s book, “The Global Expatriate’s Guide to Investing,” investing in index funds and ETFs he recommends is one of my 2017 goals. This is vital to set myself up for my retirement, because as an expat teacher, I cannot rely on a private teaching pension since I have not contributed to one while working abroad. Read my blog post to see the many other reasons why female expat teachers need to start making provisions for their financial futures.
Since I have moved to Dubai, the UAE’s Insurance Authority has announced its plan to introduce tough regulations to fundamentally change the way savings, investment and life insurance policies are sold to expat residents in response to “an alarming amount of complaints” from policyholders. According to Andrew, long-term savings and investment plans sold in the UAE are “the most expensive financial products available anywhere in the world.”
In light of recent events exposing unethical, immoral and frankly illegal (in Europe, the US, and Australia) practices that have been carried out by expat investment brokers, it pays to do it yourself. In fact, Andrew was so disgusted by the behaviour of some expat financial brokers who stood to earn a huge commission and a high annual percentage of any return made on your investment that he researched how to do it himself. And he did, extremely successfully. He no longer works and instead travels the world advising expats on how not to be exploited by these unregulated firms in the Middle East and Asia. “The Global Expatriate’s Guide to Investing” is his blueprint for investing your money yourself. You can find it here on Amazon:
You can find more help on Andrew’s website and independent expat financial advice on his Expats & International School Educators- Financial Advice Facebook group.
In this video, Andrew Hallam gives a seminar for expat teachers: Are we saving enough for retirement?