You can read about the interview with Andrew Hallam here.

This book talked about nine rules of wealth.

Rule 1: Spend Like You Want to Grow Rich

Andrew defined wealth as having the financial ability to stop working; and having passive income that is twice the national median household income.

He believes that not having a car would give you a financial headstart in life. In fact, he researched that the median price paid for a car by U.S. millionaires in 2009 was US$31,367.

When buying a home, he suggests a rule of thumb is to double the interest rate to figure out if you could still afford the mortgage payments.

Do not spoil your kids! He quoted Thomas Stanley’s book, The Millionaire Next Door, that people who received stocks, cash, real estate or other forms of financial gifts tend to be in a lower level of wealth ...