The Automatic Millionaire PDF
Listen up, it’s free
You my friend, are very clever…
Only a select few each month search ‘The Automatic Millionaire PDF’. But I have to ask, do you really like reading PDF’s?
Because you can get a paperback in your hands for $4.00. (just check the used options on Amazon – books regularly ship for 75% less).
(But PDF’s are free! And free is better.)
Well that’s definitely true. But why not save yourself the money AND inconvenience, by listening to it on Audible? It takes seconds to join, and if you’re truly as clever as you’ve demonstrated, it won’t cost you a cent!
…Now let’s get back to this book:
5 Lessons From The Automatic Millionaire
The Automatic Millionaire:
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Amazon (if audiobook is currently unavailable)
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.
“Despite its sensational title, David Bach’s The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich is not a get-rich-quick guide. Rather, the book is a straightforward march through common-sense personal financial planning that suggests readers “automate” their contributions to retirement and investment vehicles. Bach, in fact, calls his model the “tortoise approach” to becoming wealthy by retirement age.”
“Bach, author of several bestsellers including Smart Women Finish Rich and Smart Couples Finish Rich, offers a simple prescriptive plan for financial security. The secret: the astonishingly vanilla “Pay Yourself First,” which, in Bach’s words, is “the one proven, easy way to get rich.” Instead of worrying about taxes, budgeting or investing, the key, according to Bach, is to set aside between 10% and 15% of gross income for savings the equivalent of one hour’s worth of income every day. While this strategy may seem obvious, many people don’t take this basic step. That’s why Bach says everyone should write down their “Automatic Millionaire Promise,” which spells out what percentage of their income they will start saving by a certain date. To insure that people carry through on their efforts, Bach says they should have deposits automatically made to a retirement account. Then, the next step is to capitalize on the power of compounding by contributing the maximum amount to, say, an employer’s 401(k) account. To help readers navigate the maze of investment choices, Bach includes contact information for a number of mutual funds and Web sites offering authoritative financial information. Bach’s key principle, along with such advice as buying real estate, paying down debt and making charitable deductions, is not groundbreaking; and regrettably, it may be unrealistic for many: tens of millions of Americans are in serious credit card debt because they can’t make ends meet on their salaries; how, then, are they to save so much of their gross income? However, his easygoing approach, complete with real-life examples and clever phrases such as “Latte Factor,” will appeal to the many money-challenged consumers who have made a New Year’s resolution to get their finances on a firmer footing.”