Error loading page.
Try refreshing the page. If that doesn't work, there may be a network issue, and you can use our self test page to see what's preventing the page from loading.
Learn more about possible network issues or contact support for more help.

The Automatic Millionaire

A Powerful One-Step Plan to Live and Finish Rich

ebook
1 of 2 copies available
1 of 2 copies available
Internationally bestselling financial advisor David Bach’s Automatic Millionaire promotes a revolutionary system for making even the most undisciplined money managers rich.
The Automatic Millionaire shows readers how to change their financial practices and even their lives, the simple and automatic way.
The book begins with a powerful story about an average Canadian 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 fifty-five with more than $1 million in savings.
The incredible message Bach delivers is that the key to getting rich is “automating” the way to wealth by “paying yourself first,” using automatic funded retirement accounts and money market accounts to secure the future and pay for the present.
A concise guide that’s a fixture on bestseller lists, The Automatic Millionaire introduces readers to a system that is powerful and simple — an automatically effective, life-changing system that delivers. Do it once, the rest is automatic.
  • Creators

  • Publisher

  • Release date

  • Formats

  • Languages

  • Reviews

    • Publisher's Weekly

      November 10, 2003
      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. (Dec.)

      Forecast:
      With a confirmed appearance on
      Oprah along with a television and radio satellite tour, and some 700,000 of Bach's other books in print, this one should hit some bestseller lists.

Formats

  • OverDrive Read
  • EPUB ebook

Languages

  • English

Loading