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

3.93  ·  Rating details ·  14,989 ratings  ·  769 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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Average rating 3.93  · 
Rating details
 ·  14,989 ratings  ·  769 reviews


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Cortney
Apr 25, 2012 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
Peter
Jul 14, 2008 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
Donovan
Feb 13, 2018 rated it liked it
Although the writing is repetitive and long winded, the message is clear and incredibly sensible: automate your savings at 10% or more, automate your debt reduction, automate your giving, don’t buy on credit, don’t rent. Automatic millions are doable, but there’s no such thing as a “get rich quick” scheme.
Gillian
Jul 31, 2014 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
Sasha
Feb 19, 2009 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
Echo Haapala
Apr 11, 2018 rated it it was amazing  ·  review of another edition
Inspiring & Interesting

I would give this book a percentage of my savings but sorry David, I have to pay myself first. ☺ This book was truly inspiring and such an easy read. If you're like me, new to the world of finance, it can be intimidating and frightening. David has written a fantastic book and provides a valuable blueprint to make anyone, yes - ANYONE, a millionaire. While reading this book, I did not feel as though there were any gimmicks or get rich quick schemes. There was only value adv
...more
Alex
Apr 07, 2015 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...
John Nustad
Dec 02, 2016 rated it really liked it
It's a beginner-intermediate level personal finance book. Taking it into that context it is a great book to read and a philosophy I followed before reading it. Recommended for those learning about managing money.
Amy
Sep 16, 2019 rated it really liked it  ·  review of another edition
Although this is a departure from my usual reading, we are approaching an age where we really need to get our ducks in a row with our retirement savings. 

I have heard great things about Bach's book and thought I would spend a day reading this to make sure we were on the right path with our savings. 

This book tells the story of a couple, that David was providing financial consulting to, and their journey to becoming millionaires. David is completely astounded that they have saved this much becaus
...more
Tim Minge
Mar 15, 2015 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.
Caroline
Nov 26, 2018 rated it liked it
Some good advice for anyone new to personal finance, but spoiled by endless repetition and outdated information. The audiobook kicks off with useful tips for viewing the 'Portable Document Format' resource files on your 'PDA' device.
Lydia
Dec 13, 2019 rated it really liked it  ·  review of another edition
Essentially: pay yourself i.e. save and invest first by using automatic payments. The rest of the book is savings math, success stories and summary information about IRAs and other types of investments.
Ioannis
Jun 25, 2018 rated it really liked it
And very useful, fairly short finance book. Definitely recommended, will only take a few hours to read but gives some solid points and strong ideas
Calico
Jan 03, 2013 rated it it was ok
I encountered two new ideas in this book:

1. Make your (good) financial decisions automatic
2. If you have a mortgage, pay it down twice a month rather than once a month.

I wholeheartedly agree with #1.
Idea #2 is a fantastic idea if you "own" a home, which the author endorses; but even at the time of the book's publication, this was not great financial advice (it's not bad advice either, but the problem is David Bach insists that owning a home will put you on the road to riches, and renting will no
...more
Heather Hay
May 16, 2020 rated it really liked it
The statement on page 80 sums up the author's philosophy, "-you need to have a system that doesn't depend on your following a budget or being disciplined."

This personal finance book is less about shaming you and your irresponsible money habits, and more about how to take an hour or two and straighten out your finances. The book revolves an example of one main family who exemplifies the topics of each chapter. (It's refreshing after reading a Dave Ramsey book with hundred's of letters from famili
...more
Marvin Musfiq
Jun 14, 2019 rated it really liked it
Its a very good book to know the secret of automatic money making. Young generation who has low personal financial literacy should read this book. I am sure this book will not gonna disappoint you.
adeola adekile
Mar 01, 2020 rated it really liked it
Impressive, educating and mind opening. A completely new perspective to creating and sustaining wealth.
Sarah Kurth
Nov 05, 2018 rated it did not like it
This book is perfect for people who have a stable living-wage job, no pregnancies or kids or familial caretaking duties, employer-provided health insurance, no expensive health conditions, and who can buy a house in the same area as the aforementioned job.

Not helpful for anyone who experiences or has experienced unexpected injuries/health conditions, systemic oppression, or residual economic penalties for being a woman or person of color, or simply does not magically have a job that pays a real
...more
Darren
Aug 11, 2016 rated it really liked it  ·  review of another edition
This is a very good book, especially if you are young and just starting out. It however doesn't really introduce any new ideas to people who have read any of the traditional financial books. The concepts in this book are very simple, and if you do them you will have financial independence, it really is that simple yet the vast majority of people don't do them and he gives a variety of reasons people give so I won't reiterate. Thankfully I was taught many of these ideas when I was about 18 and pu ...more
Chris
Sep 27, 2010 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
Michele Fortier
Jun 26, 2016 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
Lara
Dec 01, 2016 rated it really liked it  ·  review of another edition
I read the author's book many years ago and remembered the Latte Factor. This book is more straightforward and simple. It doesn't talk budgets, instead it talks about ways to automate savings so that you don't have to think too hard or make choices. I liked this approach much better.

Much of the advice is not so different from other books. However, it is simplified and spends more time discussing why the approach works than how to make choices. The point is that you don't have to make a lot of d
...more
Lindsay
Aug 19, 2017 rated it it was amazing
This is the 2nd time both Aaron and I have read #theautomaticmillionaire. This is the updated copy. The title doesn't refer to a 'get rich quick scheme.' It refers to automating your bills, paying yourself first and how to have a safe and secure retirement with proper planning. Although I am a Dave Ramsey lover I feel like David Bach relates best to those who don't have lots of debt and are looking more towards planning for the future. Thankfully we are debt free but it comes with major sacrific ...more
Rachel
Sep 14, 2010 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
Emil Nuñez
A very easy read. The target is definitely the financially unsavvy, not for those looking for the extra push... Although, I did learn a few tidbits, like SEP IRA for business owners and got me thinking about government bonds.

It fits with the title, but I can't count how many times he said "Now make it automatic". I guess that's another point that I haven't really done, which is set it and forget it (though that hasn't stopped me from saving in the past, I just haven't been consistent)
Matt
Sep 07, 2015 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.
Leah Nadeau
Jul 03, 2014 rated it really liked it
Best way to not have to be disciplined and budgeted is to make everything automatic. If it's automatic you don't have to think about it and it's just running in the background. Even saving 5% of your pay will make a huge difference in the end.
Sheila Jose
May 02, 2015 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 07, 2015 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
Daniel
Mar 26, 2016 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.
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