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Title details for The Automatic Millionaire by David Bach - Available

The Automatic Millionaire

A Powerful One-Step Plan to Live and Finish Rich

by David Bach
David Bach
Audiobook (Includes supplementary content)
2 of 3 copies available
Borrow Listen to a sample Listen to a sample
2 of 3 copies available
What's the secret to becoming a millionaire?
In The Automatic Millionaire, David Bach shares 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, who somehow manage to own two homes debt-free, put two kids through college, and retire at fifty-five 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 must 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 to make a lot of money
  • You don't need a budget
  • You don't need willpower
  • You don't need to be that interested in money
  • You can set up the plan in an hour
    This one little audiobook has the power to secure your financial future. Do it once — the rest is automatic!

    • Creators

    • Publisher

    • Release date

      April 1, 2004

    • Formats

      • OverDrive Listen audiobook

        • ISBN: 9780743541770
        • File size: 144151 KB
        • Duration: 05:00:18

    • Languages

      • English

    • Reviews

      • AudioFile Magazine
        While this is not new advice, the genial author and TV celebrity packages it so smoothly that it will make you want to clean up your financial habits right away. His speaking style is youthful and positive, and the stories and illustrations have enough narrative suspense to hold anyone's attention. To avoid spending and accumulate wealth, set up automatic spending and investing systems and then follow them religiously. Along with detailed guidance about every aspect of creating this structure, there is an enhanced CD that has visual displays and action steps to print and use. An enjoyable, complete, and highly motivational lesson for anyone whose get-rich plans are stuck on the drawing board. T.W. (c) AudioFile 2004, Portland, Maine
      • Publisher's Weekly

        November 10, 2003
        Bach, author of several bestsellers including Smart Women Finish Rich
        and Smart Couples Finish Rich
        , offers a simple prescriptive plan for financial security. The secret: the astonishingly vanilla "Pay Yourself First," which, in Bach's words, is "the one proven, easy way to get rich." Instead of worrying about taxes, budgeting or investing, the key, according to Bach, is to set aside between 10% and 15% of gross income for savings—the equivalent of one hour's worth of income every day. While this strategy may seem obvious, many people don't take this basic step. That's why Bach says everyone should write down their "Automatic Millionaire Promise," which spells out what percentage of their income they will start saving by a certain date. To insure that people carry through on their efforts, Bach says they should have deposits automatically made to a retirement account. Then, the next step is to capitalize on the power of compounding by contributing the maximum amount to, say, an employer's 401(k) account. To help readers navigate the maze of investment choices, Bach includes contact information for a number of mutual funds and Web sites offering authoritative financial information. Bach's key principle, along with such advice as buying real estate, paying down debt and making charitable deductions, is not groundbreaking; and regrettably, it may be unrealistic for many: tens of millions of Americans are in serious credit card debt because they can't make ends meet on their salaries; how, then, are they to save so much of their gross income? However, his easygoing approach, complete with real-life examples and clever phrases such as "Latte Factor," will appeal to the many money-challenged consumers who have made a New Year's resolution to get their finances on a firmer footing. (Dec.)

        Forecast:
        With a confirmed appearance on
        Oprah along with a television and radio satellite tour, and some 700,000 of Bach's other books in print, this one should hit some bestseller lists.

    Formats

    • OverDrive Listen audiobook

    subjects

    Languages

    • English

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