Read The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich By David Bach

Read The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich By David Bach

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The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich-David Bach

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OVER 1.5 MILLION COPIES SOLD—#1 NEW YORK TIMES, WALL STREET JOURNAL, USA TODAY, BUSINESSWEEK BESTSELLERWhat’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 Start Late, Finish Rich what’s the real secret to getting rich? What’s the one thing I need to do?   Now, in the newly revised The Automatic Millionaire, expanded and updated, 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 budget ·        You don’t need willpower ·        You don’t need to make a lot of money ·        You don’t need to be that interested in money ·        You can set up the plan in an hour   David gives you a totally realistic system, based on timeless principles, with everything you need to know, including phone numbers, websites and apps, so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home.   This powerful little book has the potential to secure your financial future. Do it once--the rest is automatic!   The Automatic Millionaire is one of the most popular financial books of our time.  It was a runaway hit when it was first published in 2004, spending thirty-one weeks on the New York Times bestseller list and appearing at at number one simultaneously on the New York Times, USA Today, BusinessWeek, and Wall Street Journal business bestseller lists. It has sold over 1.5 million copies and been translated around the world in over a dozen languages.  This is the first update since 2005 and includes updated information on taxes, investments, technologies and apps to automate your financial life as well as David’s latest systems for making the entire process even easier.

Book The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich Review :



This was a great book on personal finance for beginners.If you're not familiar with the foundations of personal finance and want to start accumulating wealth: this is a fantastic book to get started with. It covers all the basic things you need to know to be successful at managing your money.The main concept is this: you should save at least 1/8th of your total (pre-tax) income. If you have debt (other than a house), pay that off first. Then, in this order, stock your money away:- In your 401k- Roth IRA- SEP IRA- Taxable accountsUse low-cost index funds (with a broker like Vanguard).If you do this, you'll live well and build a significant pile of money.The main idea of this strategy is that if you work a full-time job (and are doing 8 hours per day), you should be working at LEAST one hour per day for yourself (not your bills, etc.) -- this is where the 1/8th number comes from. If you can do more? That's great! If you can do less? Work on lowering your expenses or raising your income until you can make it happen.
Recently I have been enjoying reading books on saving and investing (I know, super lame lol). However this book was unlike any other book I have ever read. It hooked me immediately by making it very personal about a couple I could only hope to envision was my wife and myself in 20 years. Through some very simple story telling and avoidance of complex math and explanations, it just gives you the simple truths about investing a good portion of your wages and living below your means. I am sure many people will say “duh” at the concepts in this book on how you should put aside a percentage of your money for your future self. However this book tells the story through a couple that provides hope that you can do it yourself, which is very motivating. Read the book. You will see that you can also be successful if you make the right choices. This book was so motivating that I finished it in 3 days. I frequently get bored reading, but I couldn’t put this down.Key Concepts:Invest 10-20% of your wages for retirement before your take home pay. You won’t miss it.Avoid silly debt like expensive cars and things that you might think impresses people. Nobody truly cares.Live below your means and let the difference create wealth.I hope the emotional effect this book had on me can work on you, and give you the motivation you need to take action to automate your finances. It is so simple anyone can do it.

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