Add rice, sugar and milk in a saucepan and mix well. heat over medium high heat until mixture begins to boil. Reduce heat to low and cover. Cook for 25-30 minutes or until rice is tender has soaked up liquid.
Remove from heat and stir in vanilla and cinnamon. Let set, covered, to cool.
Serve cold or warm/room temperature with chopped almonds and a cinnamon stick if desired.