The Automatic Millionaire

A Powerful One-Step Plan to Live and Finish Rich

By: David Bach

Narrated by: David Bach

Length: 4 hrs and 56 mins

Publisher's Summary

In The Automatic Millionaire, David Bach shares the secret to becoming a millionaire.

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 55 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 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 hourThis one little audiobook has the power to secure your financial future. Do it once, the rest is automatic!

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.

©2004 David Bach (P)2004 Simon and Schuster Inc. SOUND IDEAS is an imprint of Simon & Schuster Audio Division, Simon & Schuster Inc.

Common sense, but...

I read the previous review and almost did not buy the book. However, some positive info I have read in other places won out and I bought it, and am very glad I did.

Sure it is common sense, but what financial advice out there isn't? As I was listening, it hit me that, although I have not saved nearly as much as I would like, what I have saved was done through the automatic methods described in the book (in my case retirement plans and our house).

The stories are not nearly so pointless as at least one other reviewer would have you believe, and it gave me a new perspective on that old adage "pay yourself first" as well as using automatic methods to overcome one's weakness at sticking to a budget.

I liked it so much I bought a copy for my son, who has been married for a week. This book is well worth the time and money...

Wonderfully Easy Concept

This book is an easy read about an even easier concept. The accumulation of wealth couldn't be easier. I highly recommend this book for those of us, like myself, who are young and haven't saved much for retirement. This book was meant as a wakeup call to people like myself, and I'll tell you, it sure woke me up to reality.

Sure, for those like the first reviewer who have had no problem with saving money, this book would be a waste of time, but for me it was the best book I've read in a long time.

Common Sense Stuff

I didn't even finish the whole audio book. Here's the book in a nutshell..."Have a few bucks taken out of your paycheck before you see it and have it deposited into a separate account that you can't get to for 20+ years." If you claim you can't afford $100.00/month, then track your daily expenses and you'll notice all of the money you waste. See? I saved you a credit.

Real world advice for Real Person finances

I have 3 main complaints:
1 - The Intro reads like a late night infomercial
2 - Chap 1 seems concocted simply to illustrate Bach's own ideas
3 - Listening to Bach constantly say the word "Automatic" with emphasis got very old


All that said - this is a great book. Getting through to Chapter 2 and it begins to show it's promise.
While most of the topics covered I felt I already knew about, Bach touches on several tips and ideas that dramatically change how a person handles their finances.
Again, many of the concepts aren't new (though still many are), but it's the presentation and application that makes this book useful.

I recommend it.

Great Advice but repetitive

What did you love best about The Automatic Millionaire?

The Automatic Millionaire should definitely be listened to by those wanting financial freedom. The main solution for this is highlighted early on in the book (automatically withdrawal to saving/pension account) within the first half and you will understand the main principal early on. The second half is just case studies and examples. Definitely worth a listen, but you may become a little bored after the first hour.

Which scene was your favorite?

The first hour of the book is interesting.

What did you learn from The Automatic Millionaire that you would use in your daily life?

Automatic savings are vital, set up finances to pay yourself first.

Mandatory for HS Graduation

This book/CD should be the basis for a mandatory class for all HS graduates and is a must read for every parent with children. Its simple premise is that every person, with a little discipline, can be wealthy at retirement, no matter what. Just read it and do it...preferrably while you are in your 20s, but its never too late.

PDF

Where are the PDF they describe at the beginning of the audiobook to go along with the reading?

Things you knew and were going to do next year

I listened to the book in two days and made some dramatic changes to my financial planning in the same time. He tells you things that you "knew" already, but were planning to do next year. He explains how much the "next year" attitude is really costing you and gets you motivated to do them now.

good principles

good principles, needs to be updated. I don't think buying a house is as much the recommendation currently. I don't like that he do strongly recommendeds that without associating the costs of home ownership. otherwise a great starting point for learning how to save money!

I'm sure there's good information...

...in there somewhere. I couldn't stand his voice and how he mumbled and ate his words. The things he suggested were also a bit too complicated. Maybe it's better in paperback form b/c he's constantly giving you lists which include phone numbers and a website. Didn't finish the book, i didn't think it was helping me. I suggest reading Dave Ramsey's book instead.

Amazing stuff

Great book, only thing I'd say is a lot of concepts were US based, not sure if there's a uk version

Repetitive

Great concepts but the narration is so unbelievably repetitive that it loses any impact. The chapters are set out in huge chunks so you can’t even click through the boring sections. Ongoing references to the accompanying charts are frustrating and make the book more akin to a study seminar. I listen in the car or out walking - I’m not going to view the charts.

not for a UK reader

After reading "The Latte Factor" (which was great!) I expected way more from this book. The Automatic Millionaire is 100% based on a US financial instruments which makes most of this book extremely boring for a nonUS reader. Also as someone else already mentioned here in the comments, the author expects you to ho through some charts while listening - to me purpose of audiobooks is to listen to them while I'm walking or driving so going through some charts is not a option.

Good book, let down by a few personal bugs.

This book was recommended to me, it is good as are the principles which are similar to other books such as Rich Dad Poor Dad, however, this is in more detail. For me the advice given is great and will benefit me, however, as a UK person, there is a lot of information that is irrelevant such as all the phone numbers, companies names and websites. I would have much preferred this to have been an attachment that was referenced rather than listen to 15+ phone number and email addresses. There are sections of the book towards the end that the sentences don’t finish and it seems to skip. Other than this it’s a great book.

Great read from a UK listener

Very Americanised but great principles which you can plan & execute for the future.

Listen to this if you want to improve your life.

This is a great listen that will change your behaviour towards your finances, thus changing your life for the better.

This should be required reading at age 12

Why didn't I read this earlier? Better late than poor , I'm going to implement as fast as I can. Thanks for the very simple duhhh

Excellent read

pretty short compared to others but packet full of great info and advice from start to finish, all in all an excellent book 👍👍

A must!

A must for those wanting to take control of their finances. David Bach has changed my life!

quick easy and impactful. would highly recommend.

quick easy and impactful. would highly recommend. get past the intro and the book itself is great