The Automatic Millionaire
by David Bach
Bach's single idea: automate everything, saving, investing, mortgage payments, so wealth builds without willpower. The 'latte factor' about small expenses has been mocked, and the math is simplified, but the automation principle is sound and the book is short enough to act on the same day.
Read it if…
you have good intentions about money and no system.
Skip it if…
you already automate; the book has little else.
Three things you will actually use
- Pay yourself first, automatically.
- Increase the percentage every raise.
- Automate bills to stop paying for forgetting.
Do this first
Set up one automatic transfer to savings or retirement for the day after payday.
Our verdict
One true idea, simply delivered.
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