A Powerful One-Step Plan to Live and Finish Rich - The Automatic Millionaire

ByDavid Bach

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Readers` Reviews

★ ★ ★ ★ ★
virginia cappiello
because of this book i now have money automatically taken out of my checking account into my ING account as well as my personal mutual fund account (for mutual funds read lazy guide to investing! great book). As well, i am taking advantage of my 401k...all automatically without having to remember or not remember to do it. great read!
★ ★ ★ ★ ☆
tisha coen
The book premise is simple - if you invest early into your retirement fund and continue to allow the fund to grow, you will eventually be a millionaire. Okay, nothing earth-shattering there. If you do the math, yes, it will work. The author goes onto say you do not need a budget. That is assuming people do not overspend what's left over from their paycheck. He continues to add some helpful thoughts along the way including paying your mortgage in bi-weekly payments instead of once a month to cut out years of payments. All of this is pretty common sense and not rocket science. It would make a great book for someone beginning the journey in personal finances. You could go without buying the book and start to automatically save in your 401K and increase it every time you get an increase at work. That would save you the money of the book. However, in reading the book through (and it is an easy read), you may be more inclined to take action than if you just hear the principle. I made a few changes myself as a result of reading the book, so in that sense, the author has accomplished his goal.
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bmarino
I must have gotten an older version or something because a few of the chapters were completely irrelevant to current day economic situation. Still had good points and only takes a few hours to read so worth it for sure.
Clockwork Boys (Clocktaur War Book 1) :: The English Wife: A Novel :: and Stories Can Transform the Way You Think and Feel About Everything :: The Great Hinckley Firestorm of 1894 - Under a Flaming Sky :: Living the Wisdom of the Tao - Change Your Thoughts
★ ★ ★ ★ ★
mary detweiler
Bought this more than 10 years ago, used just one step by setting up automatic investments to Vanguard Mutual funds as after tax investment and maxing out 401k accounts... then forgot about it, less than 8 years we build a 7 figure account. . One of the best books, he tells lots of stories but there are few simple steps you can do which will change your future..
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e mellyberry
David Bach tells a very interesting story as he teaches incredibly important principles (saving money and getting out of debt). He does this in a wonderfully simple way. He gets a bit carried away with making bi-weekly payments--especially since some people don't get paid bi-weekly and some lenders won't allow bi-weekly payments. If you don't pay your mortgage, you don't stay in your home. Thus, you are very likely to pay your mortgage--and some mortgage companies won't allow extra principal payments when payroll deductions or automatic payments are used. Extra principal payments are the key element in this great plan, and bi-weekly payments are a very easy, and relatively painless, means of making such payments.
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lizette
Almost entirely correct, but also mostly obvious.
Sadly, most people with the motivation to look for a book like this already know the main points.
Invest pre-tax money in in 401k and IRA, don't take on most kinds of debt, etc.
Basically the same advice as the Motley Fool and many other places.
Also, it seems very US centric, without any mention of options in other countries.
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lemonpoop
Excellent book. Simple and easy to undersand and put in practice. A must read if you want to simplify your life and get your finances straightened out and retirement in place. My only regret is I should have purchased the US edition, however the Canadian edition has all the same principals and worked fine for me, but for the novice the US edition will provide the fine details needed regarding the exact limits and so on.The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
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javier auszenker
This book could probably be condensed to about 10 pages, but the length does serve the purpose of driving home the essential points the book makes. I'm a graduate student and the book motivated me to bring a lunch every day so that I can put $50 a month into an IRA. If you actually have an income this book should be even more helpful. Just be prepared to read the same thing over an over again.
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jahnelle
Very true that if we take automatic system for every savings and payment, we can have financial freedom in a matter of patient and discipline without hustle to remember. Thanks for this great book. Cheers!
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joyalli
Very true that if we take automatic system for every savings and payment, we can have financial freedom in a matter of patient and discipline without hustle to remember. Thanks for this great book. Cheers!
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paige mcgreevy
This is a very good basic financial book. It will help not only those who are young, but those who are older. It is full of great ideas to teach us to save money. I liked it so well I ordered one for each of my children.
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