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The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich Paperback – December 27, 2005
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From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
Learn the secrets of achieving financial freedom with bestselling author David Bach. Visit Amazon's David Bach Page.
More About the Author
Bach's breakout book The Automatic Millionaire was the #1 Business book of 2004, according to Business Week. It spent fourteen weeks on the New York Times bestseller list and was simultaneously number one on the bestseller lists of the New York Times, Business Week, USA Today, and The Wall Street Journal. With over a million copies in print, this simple powerful book has been translated into 12 languages and has inspired thousands around the world to save money automatically.
Bach's newest book, Start Over Finish Rich launches in December 2009. With its ten crucial moves you must make in 2010, Start Over Finish Rich provides the essential tools for readers to get back on track financially and recapture their dreams of a richer future.
Bach is regularly featured in the media. He has appeared six times on The Oprah Winfrey Show to share his strategies for living and finishing rich along with regular appearances on NBC's Today and Weekend Today shows, CNN's Larry King Live, ABC's Live with Regis and Kelly, The View, CBS's Early Show, ABC News, Fox News, and CNBC. He has been profiled in many major publications, including The New York Times, BusinessWeek, USA Today, People, Reader's Digest, Time, Financial Times, the Washington Post, The Wall Street Journal, Los Angeles Times, San Francisco Chronicle, Working Woman, Glamour, Family Circle, and Redbook. He has been a contributor to Redbook Magazine, Smart Money Magazine, Yahoo Finance and AOL Money. In 2009 Bach, was a regular on the Today Show Money 911 Segments and a contributor to ABC's Good Money.
David Bach is the creator of the FinishRich® Seminar series, which highlights his quick and easy-to-follow financial strategies. In just the last few years, more than half a million people have learned how to take financial action to live a life in line with their values by attending his Smart Women Finish Rich®, Smart Couples Finish Rich® , and Find The Money Seminars, which have been taught in more than 2,000 cities throughout North America by thousands of financial advisors.
A renowned motivational and financial speaker, Bach regularly presents seminars for and delivers keynote addresses to the world's leading financial service firms, Fortune 500 companies, universities, and national conferences. He is the founder and Chairman of FinishRich Media, a company dedicated to revolutionizing the way people learn about money. Prior to founding FinishRich Media, he was a senior vice president of Morgan Stanley and a partner of The Bach Group, which during his tenure (1993 to 2001) managed more than half a billion dollars for individual investors.
As part of his mission, David Bach is involved with many worthwhile causes including serving on the board for Habitat for Humanity New York and co-founding Makers of Memories, a charity organization dedicated to helping women and children who are victims of domestic violence.
David Bach lives in New York. Please visit his web site at http://www.finishrich.com
Top Customer Reviews
I had an uncle who sold insurance and he always taught us to save 10% of our money. He taught this to his kids and he taught it to his nephews and nieces too. Guess how many did it?
In The Automatic Millionaire, Bach's core principle is to pay yourself first. Stanley and Danko talk about this in The Millionaire Next Door. Givens taught this in More Wealth Without Risk and George Clason is perhaps the best known for teaching this in The Richest Man in Bablyon. Once again, it's not news, but how many people do it?
Bach suggests using pretax retirement accounts like your 401 (k), IRA, SEP-IRA, ROTH IRA, SOLO 401 (k) to set aside a fixed monthly sum of money before considering what is left for living expences.
By taking advantage of payroll deductions, money can be invested automatically and you won't even miss it. For example, employees can have money automatically going into their companies 401 (k) and through money link have money going into their IRA. Just like a bill, except you are paying yourself first.
By contributing to an IRA, you can also complete a new w-4 and claim your IRA increasing your take home pay while you increase your investments.
Thanks to Pres. Bush's plan to raise the amount that can be contributed to retirement plans and makeup provisions, Americans have the best opportunity ever to create tax deferred wealth.
The other principle that Bach talks about is his "latte factor."
Bach insists that many people are wasting money on "lattes.Read more ›
David Bach has written a very good book here. Some, you may have heard before but hey, at least it works. Better than th ose frivilous 1,000 page books written by magazine authors who don't know beans about personal finance.
Follow David Bach's advice to lead you to the Road to Wealth and learn how to true Make The Most of Your Money.
I have been following Bach's advice and it has made a tremendous difference in my financial bottom line. Great advice that really works.
I do recommend that you read everything you can about personal finance, just get a little annoyed by people who try to tear down people for no reason other than peer pressure and hate to see a very knowledgeable financial author like Bach for no reason other than he has a formula that works and that is helping other people. I guess I'm old fashioned that way.
Sometimes the best advice is what we already know. Some people need to be reminded to pay ourselves first. That it is okay to invest while you are in debt. And that simple things like a bi-weekly mortgage which you can do on own (some unscrupulous companies charge $400 or more for this service + additional fees)can save you 5 years of mortgage payments.
Bach recommends no load mutual funds (no doubt this upsets commissioned brokers and advisors)and other advice that takes money out of the pockets of sales people and puts it right back in ours.
Some of what BAch says has been covered in his other books, but again, sometime we need to be reminded and what if you didn't buy those earlier books?
I highly recommend The Automatic Millionaire. Title is very appealing and the book really works.
Most Recent Customer Reviews
I learned plenty from this book i am going to implement in my life to be comfortable i dont want to be insanely rich just comfortablePublished 8 days ago by Amazon Customer
Just got my book today. David Bach has an excellent line of books on finances and I just added this one to my collection.Published 10 days ago by Rita
Accessible book outlining investment fundamentals. Very readable.Published 1 month ago by Drew C. Kimzey
Pay yourself first and make it Automatic! Good strong solid advice. A lot of the rest of the information is variable based on each individual.Published 1 month ago by M. Boswell
Learned a lot from this book. Truly has given me insight about finance and saving.Published 1 month ago by Peery
I really in joyed this book. It forced me to open my eyes and look at my finances instead of going on comatose like I was.Published 2 months ago by Jocelyne Gonzalez
This book is a self-help book that every ambitious person needs to read. This book has a lesson or step to be followed if you want to be financially secure.Published 2 months ago by Vitaminqueen