The Automatic Millionaire : A Powerful One-Step Plan to Live and Finish Rich
The Automatic Millionaire A Powerful OneStep Plan to Live and Finish Rich Author:David Bach What’s the secret to becoming a millionaire? — For years people have asked David Bach, the national bestselling author of Smart Women Finish Rich, Smart Couples Finish Rich, and The Finish Rich Workbook, what’s the real secret to getting rich? What’s the one thing I need to do? — Now, in The Automatic Mill... more »ionaire, David Bach is sharing that secret.
The Automatic Millionaire starts with the powerful story of an average American
couple--he’s a low-level manager, she’s a beautician--whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.
What makes The Automatic Millionaire unique:
You don’t need a budget
You don’t need willpower
You don’t need to make a lot of money
You don’t need to be that interested in money
You can set up the plan in an hour
David Bach gives you a totally realistic system, based on timeless principles, with everything you need to know, including phone numbers and websites, so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home.
This one little book has the power to secure your financial future. Do it once--the rest is automatic!« less
Great book. Simply written. Bach gives basic knowledge on how to trim spending, increasesavings, and plan for retirement. This book lays it out in simple and plain English. This book is great for people who are just begining to get a grip on their finances, or for those who know nothing about personal finance.
Simple concepts identified and explained in text...
To win financially, first you must live on less than you make, and pay yourself first (DUH). Author recommends that you automate your savings/retirement, bill pay, direct deposit, automatic transfers, etc... that make managing your money simple / easy / effortless/ un-noticed / painless. The "tortoise" approach works - especially if you start this kind of system when young!
I prefer a more direct and controlled hands-on management of my monies - ala Dave Ramsey.
This a great "starter" book for getting some direction on simple ways to get your money on reasonable path. Even though these ideas seem simple, the difference they make in your financial control is amazing. I give these to my college children and they are always surprised at how the "Latte factor" has given them perspective the value a dollar can have with attention to it,and the confidence to begin using the other investment ideas.
Great book, even for those of us who should know how to manage our money.
I didn't mind the *idea* of this book but it just came across to me as a little too gimmicky. It came across as sales-pitchy. The ideas are solid and they're good, but I prefer the way that other authors approach the same subject. For some people, this could be immensely helpful. But I am currently too far in credit-debt right now for this advice to be applicable to me. In a couple of years once I have paid it off, I can see myself applying some of David's ideas.
It's good, in theory, but the author's approach is a little too sales-pitchy for me. Also, I am currently deep in credit card debt and this book is not really applicable to me right now. I find that there are other books/authors that are more applicable to me and the current economic situation. That said, this would surely benefit someone who is not currently so much in debt. I do like the idea of automating savings though.