Name: The automatic millionaire
ISBN: 9780743538411

The automatic millionaire

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 Millionaire, 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 budgetYou don't need willpowerYou don't need to make a lot of money You don't need to be that interested in moneyYou can set up the plan in an hourDavid 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!

What Hacker News says

EvanKRobMar 2021

Same concept but different book. The Automatic Millionaire. Short and sweet, highly recommend

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burkestarJun 2018

I started this right after college after reading "Automatic Millionaire" that advocates for "paying yourself first" and automating your finances. Money goes into checking then automated to online savings accounts, one account per purpose (xmas, vacation, kids college, kids sports, big ticket purchase), money goes to 401k/IRA, money goes to stock account. Only bill I need to remember to pay is credit card (although minimum payment is at least made so no late fees), everything else is automated. Only decisions I make are how to rebalance things if I overspend the money left over, which stocks to invest, and periodic rebalancing to make sure things are on track to reach long-term goals. The real savings is "saving me from myself" :)

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f_allweinNov 2017

‪"The Automatic Millionaire" by David Bach, https://m.barnesandnoble.com/w/automatic-millionaire-david-b...

Recommends automatically paying a share of your income each month into index funds, and gives recommendations on how to distribute this across risk categories according to your life situation.

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f_allweinNov 2016

For personal finance, I find The Automatic Millionaire gives usful and pragmatic advice: http://www.goodreads.com/book/show/621.The_Automatic_Million...

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xutopiaJan 2016

That depends on your temperament. I read Automatic Millionaire by David Bach and started saving money right away. I maxed out on tax savings through the advice in that book and used that money to bootstrap a company which I sold for a hefty price.

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jaysonelliotJul 2012

The author's commentary about money really struck home with me. I had the very same problem for most of my life, and never realized it until last year.

About a year ago, I wrote what I thought was a throwaway tweet, "I give up, I admit it—I suck at money."

Several people were kind enough to take my tweet seriously, and through several recommendations and some great advice, I chose to find out why that was. It turned out to be my mindset and self-image that was the problem. The bit about pushing money away because you subconsciously believe there's something wrong with having it was powerful and true for me. I learned about that mindset from the book "Secrets of the Millionaire Mind" by T. Harv Eker.

It's a corny title, and the book itself can make you feel kind of corny reading it. Unfortunately, most books about money tend to be that way. You just have to deal with it. Stick a fake cover on the book or read it on a tablet where no-one can see what you're reading. The thing is, that T. Harv Eker book made me really look at why I was bad with money, not how I was bad with it. I'd be interested to know if this is where the author found out about his own subconscious blocks.

Two other books that helped me were "The Automatic Millionaire" by David Bach, which taught me to put my savings on autopilot, and "I Will Teach You to be Rich" by Ramit Sethi. Ramit is an author and blogger in his twenties who I've found to have the best day-to-day info and motivation to keep me on track.

No matter how good you are at anything else in your life, if you have a bad relationship with money, you'll suffer for it. I'm just glad I finally (if sort of passively) asked for help.

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