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The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich

3.88  ·  Rating Details ·  9,055 Ratings  ·  436 Reviews
What’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 The Finish Rich Workbook, what’s the real secret to getting rich? What’s the one thing I need to do?

Now, in The Automatic Millionaire, David Bach is sharing that secret.

The Automatic Millionaire start
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Paperback, 272 pages
Published December 27th 2005 by Crown Business (first published December 12th 2003)
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76th out of 101 books — 2 voters


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Community Reviews

(showing 1-30 of 3,000)
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Cortney
Apr 25, 2012 Cortney rated it it was ok
I'm a bit of a personal finance nerd, and I love budgeting, being frugal, and paying off debt. I tackled my consumer debt after returning home from a teaching job in Japan, and in about 2 1/2 years paid off about $20K thanks to Dave Ramsey's "Total Money Makeover" and "Your Money or Your Life" by Joe Dominguez and Vicki Robin. Between those two, I had all the motivation/information I needed and diligently dug myself out of my B.S. money ways while working full time and going to grad school full ...more
Sasha
Feb 19, 2009 Sasha rated it liked it
Recommends it for: Everyone
Recommended to Sasha by: Katrina
This is a difficult book to rate. Informationally, it should get a 5. For ease of understanding, it should get a 5. But as a "good read," well, much of the first half read like an annoying infomercial and that really bugged. I also don't like phrases like "get rich."

So, it's weird that I read this book. I did so at the suggestion of a friend, otherwise I never would have given it a thought. (Thank you, Katrina!) I began skeptically, but this ended up being the very book I needed to read, for me
...more
Mohammed Alsaleh
الكتاب بالجملة مفيد لعامة الناس .. كونها يحوي طريقة لتجميع مبلغ مالي جيد من خلال التوفير من الإيراد الشهري أو النصف شهري ..
يحوي أفكار كثيرة رائعة .. لا يرقى لما طرحه كيوساكي في كتابه " الأب الغني والأب الفقير " لكنه في الجملة رائع ومفيد
أكثر ما أعجبني فيه طريقة التسديد النصف شهري والذي يضيف نصف شهر في السنة ويسقط عليك نصف التكلفة بعد مرور عشرين سنة ..
أنصح بقراءته
Peter
Jul 19, 2008 Peter rated it liked it
I would recommend this book to the complete novice, if you want to learn some very simple things that you can do to help you secure your retirement then read this book. If however, you want to really understanding investing, and finance this probably isn't the best book.

The book has a few good tips that work for everyone:

1: Pay yourself first (A common recommendation)
2: Pay your mortgage bi-weekly (could reduce it by 5-10 years)
3: Put away 10% of your money
4: Tithe
5: Always save some, even if yo
...more
Gillian
Aug 05, 2014 Gillian rated it it was ok
I read one of David Bach's books back when I was starting my first job and it was helpful. This one, as far as I can remember, has the same type of information - good basics if you are not saving at all now or are in debt, but nothing much beyond that.

It was also written before the housing market crash, so I rolled my eyes a lot hearing about how you have to buy a house now or you'll never be rich, foreclosure is so rare, it's so easy to buy a house, check out Fannie Mae and Freddie Mac... I li
...more
Michele Fortier
Jun 26, 2016 Michele Fortier rated it it was amazing
This isn't my usual reading fodder (no fantasy or magic or teens falling in love), but it was a really interesting and insightful book. Ignoring the title (which sounds scam-y), this book is actually an excellent resource and breakdown of a really simple and common-sense way to save more money and be more efficient with bills, debt, savings, etc. The author talks about setting up direct deposits for 401ks and savings accounts (as well as investing savings to build interest, etc) and planning for ...more
Alex
Jul 06, 2016 Alex rated it really liked it
For someone who is wanting to know finances 101 in a palatable and realistic way, you really can't beat Auto Millionaire! Now I'm off to read Robbin's Money, Master The Game and then some Suze Orman. FYI - Bach has some fabulous videos on Youtube...
Ramy
Aug 03, 2016 Ramy rated it liked it
Shelves: wealth
نزلته من على النت فى صورة فولدر كبير به 9 فولدرات ل 9 موضوعات بداخل كل منها ما بين 8-12 مقطع صوتى كدروس حول ذلك الموضوع العام
- كورس المليونير التلقائى و 6 اسلة يجب ان تسألها ل نفسك
- قصة latte factor
-ادفع لنفسك اولا و معادلة ديفيد باخ للحصول على الثروة
- حسابات التقاعد و انواعها "و دى حاجة خاصة بالمجتمع الامريكى"
- الاسواق المالية و حساب الطوارىء
- اشترى منزلك الخاص و مساوء التاجير و مميزات امتلاك المنزل
-بطاقات الائتمان و عيوبها و كيفية التخلص منها
-التصدق و فوائده
-كيفية صنع اسلوب ملفات خاص مكون من 1
...more
Chris
Sep 27, 2010 Chris rated it it was ok
The premise of this whole book is that if you do anything with money, throw out the concept of a budget and automate everything you do with money. Safe idea?

He explains everything in a very young-adult reader fashion by creating little snippets of conversations with people from either interviews or classes he taught and framing it in a way that sounds funny and easy at the same time. I think the idea of a budget or some finance manager is still important for tracking expenses and following up on
...more
Matt
Sep 08, 2015 Matt rated it it was ok
Glad it was an easy read (about 3.5 hours). The information about buying a home vs. renting seemed to be good info for someone with little knowledge about home ownership. Aside from that, there was not much content I found useful or applicable. Basically: this was a "getting a handle on your financial future" type book that didn't stand out in comparison to other financial books I've read.
Tim Minge
Mar 20, 2015 Tim Minge rated it liked it
I like the main premise of the book, making your investing automatic to pay yourself first. I disagree with the "no budget" philosophy. His argument is that they are boring, stifling, and don't work. Inn experience they are what keep you from going into debt.

I am not sure how automatically saving and investing is going to keep you from wasteful spending of the rest of your money without having a written budget and sticking to it.
Daniel
Mar 26, 2016 Daniel rated it really liked it
Very helpful when it comes to getting into the mindset of how to save money. I never would have thought to save money by not buying lunch everyday at work. I could save a lot more by making something and bringing it in or eating leftovers. This is only one of the many tips I learned from this book.
Sheila Jose
May 02, 2015 Sheila Jose rated it it was amazing  ·  review of another edition
Keep it simple stupid

Financial freedom has never been simpler with this book. It is a basic finance book without the financial mambo jumbo. I can't wait wait to get started to become debt free and an automatic millionaire.
Kim
Jun 19, 2015 Kim rated it it was amazing
I found this book easy to read and packed full of information. It made me think about some of the ideas that I could implement to become financially stable. A wealth of information I would like to pass on to my children and any one who would listen
Rachel
Sep 14, 2010 Rachel rated it it was ok
This was very repetitive. Yes paying yourself first is a must do for all of us. BUT Mr. Bach completley ignores the immense credit debt that the average person carries. We live in a credit society where we all are trained to wanting it now and buying it now wether we have the money or not. SO it's interesting that the author ignores the debt that people have and just focus on paying yourself first. Even if you manage so have a couple of million in retirement savings; it's not going to help you m ...more
Cody Eastgaard
Oct 18, 2014 Cody Eastgaard rated it it was amazing
Great book on the basics of becoming wealthy. wish I would of read this book when I was still in my early 20's
L.A.
Apr 30, 2016 L.A. rated it liked it
Somewhat antiquated, often duplicated, slightly complicated.

Financial advice has a short shelf life because things like interest rates and markets can change in the blink of an eye. Still, when a franchise has been successful as Bach's has, you have to revisit it now and again to make sure it's still relevant for your collection. This entry in the "Finish Rich" series is now over ten years old, but its core principles still make sense, even though the world looks very different now.

For example:
...more
Anthony McDowell
Mar 14, 2015 Anthony McDowell rated it it was amazing
My favorite business book! I have read this book multiple times, and just finished listening to the audiobook for the second time. Though a little outdated now, the principles of paying yourself first, as well as the importance of homeownership, for investing, plus finding money utilizing your Latte Factor, are all concepts that are timeless. A definite read for anybody in America, this book is designed to not only change your mindset, but put these principles into action, and you will be as gua ...more
Camille
Nov 03, 2014 Camille rated it it was ok
Shelves: read-2014
Had to read this as a requirement for a family finance class. Some good ideas, but the style of writing was not to my taste AT ALL. I can't stand reading books that are constantly telling me how great they are. I'm reading it. I'll judge it for myself. I guess that's just the self-help book style. There's as much salesmanship as actually content. It had all the self-help standards: This is guaranteed to work for you! This thing that worked for me will also work for everybody, everywhere, no matt ...more
Melissa Storm
Mar 19, 2016 Melissa Storm rated it really liked it
Some good tips. I definitely need to start investing toward retirement, and now I know some great ways to do so.
Lisa
Jul 03, 2015 Lisa rated it really liked it
This review has been hidden because it contains spoilers. To view it, click here.
Kelsy
Mar 22, 2015 Kelsy rated it liked it  ·  review of another edition
Shelves: non-fiction
This book didn't have any new information for me, since I've already read books like I Will Teach You To Be Rich. I definitely think this book has the right information in it for someone who is new to personal finances and isn't already saving and investing. (view spoiler) ...more
Anthony
Jan 06, 2016 Anthony rated it liked it
I've already read Bach's book "Smart Women Finish Rich," which was incredibly helpful to me as a teenager trying to figure out how to manage my finances. I recommend that book to everyone who needs a good basic financial book. Because I liked that book so much I had high hopes for this one, but I did not find much new information. The central theme of this book seemed to be that you need to automate various financial things because it is easier than having to think about it. For example it is e ...more
Ruskanen
Feb 27, 2015 Ruskanen rated it it was ok
Everyone on my team at work received this book as a gift from our director. I appreciate the intention, but after being a thrifty person all my life, and a Dave Ramsey listener for 7 years, this book didn't have a lot to teach me. It's written in a very simple style. So simple, I skimmed most of the book. As I was reading I could almost hear this book being presented as an infomercial. "But wait, if you do this one crucial step, you too can be an automatic millionaire! It's so simple, you almost ...more
Christian Echols-austin
Aug 05, 2015 Christian Echols-austin rated it really liked it
The Automatic Billionaire by David Bach
A common desire that the average person wants to achieve is to eventually become rich. David Bach expresses in his book, The Automatic Millionaire, not only how to get rich but how to stay rich. While the book is filled with great advice (many of which young readers should be aware of) the main theme suggest that you should save money - something people already know how to do but don’t know how to do it in a correct manner. The author may repeats practices
...more
Gwen
Jan 29, 2015 Gwen rated it it was ok
Shelves: non-fiction, shite, money
Hoo boy does it show that this was written in 2004.

If you want insight into the world of a cheesy noughties Morgan Stanley dudebro, complete with advice on tithing and quotes from Bill O'Reilly, David Bach is your guy. Real estate? Fantastic investment! We've NEVER had a real estate bubble, nothing can go wrong! Stock market? Fantastic investment! 10 percent returns! Paying off your whole mortgage early? GREAT idea, except maybe if you live in New York City, because terrorism! (Not even kidding.
...more
Jenn
Feb 23, 2016 Jenn rated it it was amazing
There are a lot of obvious tips in this book; however, this doesn't mean that we don't need to be reminded of them. If anything this book was inspirational to continue saving money and helped to set some future goals. It does also point out why it is just better to automate everything. Prior to this book I was somewhat fearful of automating all of my payments/savings/etc.. but now I realize how it's silly not to go this way.
I didn't read this book, I listened to it in my car while driving to wo
...more
John Mitton
Dec 13, 2015 John Mitton rated it really liked it
A solid book and solid advice. It meanders a bit and tries to be folksy, so I ended up skimming through a good part of it. His basic advice applies not just to finance and investing, but to life. Automate everything you can, so you can focus on what needs your attention. Investing will eat up as much of your time as you allow it to. In a couple hours in year 1, and then perhaps half an hour a year for every year after, your investing can be competently managed, and you'll earn more on your inves ...more
Jerome
Apr 25, 2015 Jerome rated it really liked it  ·  review of another edition
Shelves: hardcopy-purge
This review has been hidden because it contains spoilers. To view it, click here.
Suzy
Jun 03, 2016 Suzy rated it it was amazing
I don't know anything about money. I read this to better understand how money works. I still don't know a lot after reading this, but I feel like I could become a millionaire just by following the author's instructions. It's a VERY easy read and very encouraging in such an economic time as this. I would recommend that EVERYONE read this book and follow the author's advice down to a T. My husband read it as well and has taken steps to make our finances "automatic" and I can't begin to tell you ho ...more
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