Home > "The Automatic Millionaire" by David Bach - Book Review

"The Automatic Millionaire" by David Bach - Book Review

January 7th, 2019 at 05:24 pm

The Automatic Millionaire lays out a plan to easily accumulate an egg nest larger and faster than normal, even on a normal or low salary. Strategies include things like decreasing your "latte factor" and putting your extra paycheck on 3 pay check months (if you are paid bi-weekly) into debt reduction,

The best part is, once it is set up, it is nearly fool proof. If you use the tool kit presented in this book, you can automate your saving plan, tip the scales and start building your financial base.

Where I found it:
After discussing some topics I learned from

Text is “Rich Dad, Poor Dad” and Link is
“Rich Dad, Poor Dad” with my sister-in-law, she thought I would enjoy this book. She was so right. She had read the book as required reading for a college home economics class.

My takeaways:
The most boring retirement strategy is actually a REALLY good strategy. Take a turtle approach by getting something consistent and automated, then just glance at it every few years.

There was only one strategy in the whole book that I wasn’t already doing. That also made me very excited for two reasons. 1. It showed me that I am on track to be the millionaires described in the book. 2. I organized my thoughts so I have a resource that I can share with others.

There is nothing in this book that I disagree with. It comes closer to my spending/saving philosophies than any other I have read. This is one of the very few books that you can go all out on. I recommend this book to anyone who manages their own finances (or part of their finances). Get it to them and read as soon as possible!

Text is Financial Book Reviews by Milly and Link is
Financial Book Reviews by Milly

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