The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
by David Bach
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What's the secret to becoming a millionaire? In The Automatic Millionaire, David Bach shares 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, who somehow manage to own two homes debt-free, put two kids through college, and retire at fifty-five with more than $1 Million in savings. Through their story you'll learn the surprising fact that you show more cannot get rich with a budget! You must 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 to make a lot of money - You don't need a budget - You don't need willpower - You don't need to be that interested in money - You can set up the plan in an hour This one little audio book has the power to secure your financial future. Do it once -- the rest is automatic!. show lessTags
Recommendations
Member Reviews
Great advice at its core. Some strategies didn't play out well in the years following publication (investing in housing for example) but overall it's solid. Pay yourself first!
Generally found this to be interesting and helpful. While some information could be potentially be dated, like some information on specific investment firms, the general information and principles is definitely very helpful.
Yes, it does seem to work. The catch is that you have wait 30-40 years. Pretty obvious in a lot of ways, and I figured out I was already doing everything he recommended. But it was encouraging, and I would totally recommend it to someone totally new to the idea of saving (like a teenager).
It's been a few years since I've read this book, but I remember being impressed by the advice to automate your finances, and I've done that to an extent. I could probably benefit from a re-read of this one, but it would have to get in line behind so many others on my to-read list.
David Bach puts forth what many of us learn from teachers, financial advisors, and parents into simple and straight forward methods. Add to that the examples and charts help emphasize the importance of following his advise, which is where many advisors, parents, etc have failed to do for many of us.
David Bach puts forth what many of us learn from teachers, financial advisors, and parents into simple and straight forward methods. Add to that the examples and charts help emphasize the importance of following his advise, which is where many advisors, parents, etc have failed to do for many of us.
Not everyone is able to play the stock market like Warren Buffett. This approach is a good and safe way to make some money.
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Author Information
18+ Works 4,695 Members
David Bach is a financial columnist and author of several best-selling books on personal finance. His books include Start Late, Finish Rich and The Automatic Millionaire. Bach also writes a weekly Yahoo! column on personal finance. He previously was a senior vice-president of Morgan Stanley. David Bach also serves on the board for Habitat for show more Humanity New York. (Bowker Author Biography) show less
Awards and Honors
Distinctions
Notable Lists
Work Relationships
Inspired
Common Knowledge
- Dedication
- To my English teacher, Peter Annas, thanks for caring and inspiring me to write. You changed my life.
- First words
- What if I told you that in just an hour or two I could share with you a system that would slowly but surely transform you into a millionaire?
- Last words
- (Click to show. Warning: May contain spoilers.)Until we meet again, enjoy your life and enjoy the journey. Make it a great one.
- Blurbers
- Blanchard, Ken; Chatzky, Jean; O'Reilly, Bill
Classifications
Statistics
- Members
- 1,354
- Popularity
- 17,544
- Reviews
- 11
- Rating
- (3.59)
- Languages
- 5 — English, French, German, Portuguese, Spanish
- Media
- Paper, Audiobook, Ebook
- ISBNs
- 27
- UPCs
- 1
- ASINs
- 19