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

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

4.4 89
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

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The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich 4.4 out of 5 based on 0 ratings. 89 reviews.
Guest More than 1 year ago
I agree with a previous reviewer. Bach sat with other bestselling financial books, jotted down the main points, changed the jargon a little and put a catchy title on it and now is selling it. There are no original ideas in this. The 'automatic' he speaks of is simply having savings and/or 401K money automatically deducted from your paycheck...profound, huh? He says 'don't budget',etc. because he is saying that all you have to do is automatically deduct it before you get the money. That way 'you don't have to budget because it is already taken care of.' He has no new ideas. 'Pay yourself first' is from several other books including The Richest Man in Babylon. Other ideas are basic ideas he rehashes that you can find on any basic financial website. He only states very basic information that has been around forever. Oh, he does throw in many stories as fillers. To give him his due, as the show on CNBC that he was on recently stated, he did create 'the Latte factor'. What is that, you ask? He says to cut out a latte here and there, save/invest that money, and you will be a millionaire. Amazing,huh? On that show he said to save an hour's worth of pay per day. Again, he is saying basic financial concepts, but he changes the wording so that he seems to have substance. The title is misleading. This is a very disappointing book.
Guest More than 1 year ago
I've purchased several finance books, even had others give me theirs hoping it would sink in.....whatever 'it' was the author was trying to say. I finally got overly tired and frustrated because their 'point' were all over the place. I didn't see a common thread, and I normally put the book down because I was confused about where to start. THAT'S NOT THE CASE WITH THIS BOOK!!!! For the first time, there is a common thread....and he tells you where to start and tell you exactly what to do. I was so motivated to finish this book...I couldn't put it down. I read in 5 hours straight...you can too. I am by no means an avid reader, but I couldn't help myself because I had to continue removing the shackles and recieving all of these financial breakthroughs that putting the book down would have been a diservice. I've never finished a book before, but this one was highly significant!! I can't tell you enough how much I enjoyed and highly recommend this book!!!
Guest More than 1 year ago
This is a very basic book. I can't believe he has made so much money off of this. Anyone reading this review could have written it. He has no original ideas. Basically it says to pay yourself first-i.e. automatically deduct contributions to 401k, auto deduct to savings, auto pay bills, do the bi-weekly mortgage payment, and stay out of credit card debt. There you have it. That's the book. I will have to admit that it did inspire me...if he can sell that many books with this content, then surely I can write a NYT bestseller!
Guest More than 1 year ago
I found the book to be an easy, useful & helpful book. There were things I hadn't thought of and this book simplified things for me. I highly recommend it and now have my 19 year old reading it as well. Buy a copy. It's worth it!!
Guest More than 1 year ago
Bach shows you a simple, automatic way to create a path to financial freedom. His examples are interesting and easy to apply to real life situations. This book prompted immediate and lasting changes to my finances.
Guest More than 1 year ago
If you are just graduating college or just starting out in life you must read this book. It is a very easy read and very easy to understand. I read it in 1 sitting. It explains how easy it can be to retire rich by following the few easy steps outlined in the book. By far the best book I have read on planing for retirement.
Guest More than 1 year ago
After my father gave me this book, I just let it sit on my bookshelf. Until one day I picked it up and read the first few pages and ended up reading the entire thing in one night! I can't believe everything I learned from this book! I'm on my way to a secure life and retirement, thanks!
Guest More than 1 year ago
The Automatic Millionaire is a real 'eye opener'. After reading the Automatic Millionaire I learned practical financial advice that changed my perspective on becoming a millionaire. David Bach, along with the couple he spoke about in this book gives people like me hope. Without the knowledge of the crucial steps for becoming an automatic millionaire, it would seem that only the 'rich gets richer' and the 'poor gets poorer'. It's more than becoming a millionaire rather, it's about becoming financially independent.
Guest More than 1 year ago
The book kind of dissapointed me. It repeated things many books before its time stated and it was kind of annoying. The 10% idea i read in The Richest Man in Babylon, and Pay yourself first concept was from the Rich dad poor dad series. the book did have some interesting chapters though. i like the money market suggestions and the mortgage suggestions also. If you havent read many books on the subject of money before than this will be a very good read, but if you have itll just leave you a bit dissapointed. id suggest borrowing the book from a friend, which is what i did. like i said, not bad but nothing great!
Anonymous More than 1 year ago
RenatoD More than 1 year ago
5. Excellent Book. I had read many books on Financial issues, but never a book so brilliant and honest like this one. 5 Stars.
Cristigil More than 1 year ago
Highly recommended. Very helpful, even being 4 years old.
Anonymous More than 1 year ago
I bought this book after reading the first few pages. The theories may not be "new" to many but the author's writing style made it easy to swallow the advice he shares. By making automatic payments to myself, understanding the advantage of pumping up my 401k contribution I have reaped the reward of watching it steadily grow over the years ....changing contribution to a percentage versus a set amount monthly has also resulted in living with my ability to increase in a few percentages every 6 months. I was in credit card debt but using the DOLP theory I was quite pleased to discover how well it worked when applied. I have since gifted my college aged son this book, and happy to report he pays himself and learning to save better, NOW. I highly highly recommend this book to anyone who thinks they have no "extra" money to save.
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