Rating: Summary: Set it up once and the program pays off over and over... Review: After reading this book; I "automated" my financial life a little bit every week. I started with the equity accelerator that will save me over $28,000 in interest charges on my existing mortgage over the next 17 years just to start. Now that every thing is set up (automatic savings, bill paying, etc.) I just have to check that things are done rather than doing them. This is a great book taking Richard's programs to a new level for the new millenium ~ don't miss it!
Rating: Summary: One of the "Bach 100" Review: I was fortunate to be in David's trial group for this book in the fall of 2003. It has essentially automated and changed my life! From the bi-weekly mortgage, to bumping up the 401K, to starting an emergency account, to automating ALL my bill-paying, to SEP-IRA for my self-employed husband, to setting goals for the short and long term, and most of all - the feeling of empowerment! Because believe me - if I can do this, anyone can!! Don't miss out on this!
Rating: Summary: "A must read for everyone" Review: "The Automatic Millionaire" was a great eye opener for me. The author has suggested many simple yet practical ways to save and plan for your future. I recommend this book highly to anyone who is serious about securing their future.
Rating: Summary: I saved $120,000 today with this book Review: I wanted to share this story with 'would be readers'. I just purchased Automatic Millionaire a week ago and by just implimenting what I learned in just one chapter, (debt free homeownership)I saved $120,000!!!!! Today I took out a mortgage for $550,000 and as the book suggested I chose bi-weekly payments and I couldn't believe it when my loan officer showed me that I will save $120,000 by simply employing this one tool! My wife and I were so exicted we sent an email to the author (something I have never done) and thanked him for the advice. I can't wait to read the rest of it. Really great stuff.
Rating: Summary: Educate yourself here Review: There is no such thing as an automatic millionaire but you can develop the mindset of a millionaire, take calculated risks, and reach your financial goals. This book offers information and strategies which you can evaluate and select which work best for you. I suggest you read it along with Optimal Thinking: How To Be Your Best Self which provides the thinking required to consistently be your best, make the most of every opportunity, and optimize your emotional and financial intelligence. Being a millionaire is more than a monetary experience!
Rating: Summary: A Total Bomb Review: The book is filled with pages that reference certain mutual funds at a time when many fund companies are under fire. Rich people dont buy mutual funds and the buy and hold philosophy that is tauted in the book is really outdated. Many people who held funds for years wished they had sold long ago. The problem with the book is that it is really a sales pitch that one might here from a financial planner who was trying to sell mutual funds to get a big commission. David Bach used to be a financial planner and it shows in the book in the most negative ways. There are too many charts and boring graphs to make a book a pleasurable read and because of that and its sell them at any cost mindset I cant suggest this title.
Rating: Summary: The Automatic Millionaire Review: David Bach has the right idea in this book and any one can become a millionaire if they set their mind to it. His idea of paying yourself first isn't a new idea but he tells in his book why its a must. I know a man that has done this for years, now his company is going down hill and could close its doors, but in his own bank account he's well over a millionaire several times. He always pays himself first, you come first before anyone else and thats a fact. David brings this point home in his book and if you follow his advise you will have what it takes to retire. A must read if you want money when you retire. Larry Hobson-Author- "The Day Of The Rose"
Rating: Summary: This book has lots of practical advice. Review: If you're like me and never had much success in adhering to a personal budget, then this book is a must read! I instantly bought into the book's philosophy for saving money because the author does not preach setting up a budget as a vehicle to attain wealth. In fact, the book actually tells you to throw the budget out the window...or something to that effect. The Automatic Millionaire philosophy is simple and easy to implement. When reading this book, I found myself saying "you know the author's right" so many times! For example, the book points out that many people, like me, won't take the time or even remember to routinely set aside money to save from each paycheck. By following the book's advice, I learned how to overcome this problem by automatically transferring a set amount of money each week to an investment account. The book also made me realize that I can afford to set aside more money for savings than I previously thought. I especially liked the way the author lists practical "Action Steps" at the end of each chapter, which makes it easy to implement the author's advice for saving money.
Rating: Summary: Pretty basic stuff. If you do it Review: This book is filled with all the basic stuff we have heard through out the years,but never put into action. David has me kicking myself in the butt for not realizing how much money I could have saved if I would have just done it. But like anything else in life its never to late. The automatic millionaire is not going to make you a millionaire over night. It just sets the guidelines on how to invest your money,and have it taken out with todays automated society. David shows many companys who manage all kinds of acounts that have automated payments,and I was surprised to see how little amount of money it can take to open one of these accounts. By setting up these accounts your money is automaticly put into what ever particular money managing account you choose. He covers alot of different accounts also. Then by the time retirement comes you should be doing pretty well off. Its simplicity in itself. It takes this kind of book to show how dumb you have been with your money. Also he tells of mortgage secrets. Credit card debt reduction,and how much cash you waste a day on foolish things. (the Latte factor).And also takes a look into contributions. So no matter what you do your money is working for you. David is covering no new ground here. But this book should help alot of people to realize how much money you are wasting foolishly. Then crying the blues cause your broke. Its just a matter of paying yourself first. Something we all tend to forget.
Rating: Summary: Not A Winner For Female Investors Review: There are times in the book that I found the author's tone very condesending and male-oriented. He really does talk down to readers. Also, the million dollars he says that a person can save is a nice idea, but very hard to accomplish in the real world. What David does not say is that a million dollars today will be worth a fraction of that by the time most of us retire decades from now. This book is all about sales and marketing, instead of solid financial advice.
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