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Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich (平装)
by David Bach
| Category:
Personal finance, Personal wealth, Investing, Self help |
| Market price: ¥ 148.00
MSL price:
¥ 138.00
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| Stock:
In Stock |
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MSL rating:
 Good for Gifts |
| MSL Pointer Review:
Written in a common-sense and easy-to-understand manner, this bestseller is an excellent guide to personal wealth. |
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AllReviews |
  1 2 Total 2 pages 14 items |
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Julie Dunn (MSL quote), USA
<2006-12-21 00:00>
While this book is simple, I do believe that there are alot of people out there who will "get it" on how important it is to save while they're young. The ones who already "get it" are more than likely already older or had someone to advise them like a parent or employer. This is a good book for those interested in saving for their future but not quite sure how to go about it. It has some really good information. Even though I already knew most of it, it reinforced my thinking and made me re-evaluate how much I was putting back in my 401k. I would recommend this book to someone young (say 35 or younger) or someone who has no retirement savings. It would give you a really good start. |
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K. Morris (MSL quote), USA
<2006-12-21 00:00>
This book has information regarding setting up your retirement, setting up an emergency fund, paying down your mortgage, and more. All of the technical information is available publicly. So why should you buy this book?
Because David Bach is going to motivate you and teach you how to do the above, and set everything up so it's automatic, so you don't need to budget or have the discipline how to do these things every month. He's going to teach you how to Pay Yourself First, instead of waiting until you've paid everyone else. He's going to give you real examples of people who have changed their lives by taking a few hours to automate their financial future.
How many of you know that you should be saving more for retirement, putting away money for a rainy day, your kids education, or a down payment on a home? Probably many of you. So use the advice in this book, figure out how much to save and invest every month for these things, and set your program on auto-pilot so you can forget about it. After a few months, you'll never miss the money your saving, because you'll never see it in your checking account.
There's nothing about getting rich quick in this book. There's no risky schemes or hare-brained ideas, only sound advice on how to save for the important things in life and how to do it automatically. There's nothing complicated. Everything's simply explained.
The naysayers (negative reviewers) say all of this is common knowledge, and that's true, but it's not common practice! I knew all the technical stuff as separate pieces of information. What this book helped me do is to is put it all together in a comprehensive plan and implement it. Simply. Automatically. That's the true value of this book!
Don't make excuses. It's never too late to start. Even saving some money is better than saving none. Do it now! I did. It's easy. It's actually kind of fun too!
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Melissa Niksic (MSL quote), USA
<2006-12-21 00:00>
David Bach offers a very straightforward and basically foolproof method for managing your finances in The Automatic Millionaire. This isn't a get-rich-quick book: The Automatic Millionaire is based on the principle that anyone can become wealthy by following a few basic steps and learning how to manage their money well. Bach insists that the only way people can truly get rich is if they "pay themselves first" with every check before shelling out money for bills, basic expenses, and trivial purchases. The idea of making everything "automatic" stems from Bach's belief that by using automated payroll deductions for things like retirement accounts and monthly bills, people won't be tempted to stray away from their budgets.
The Automatic Millionaire doesn't really offer much new information on personal finance, but Bach makes everything very easy to understand and provides numerous examples and scenarios that really drive his points home. I grew a bit annoyed at all the self-promotion for other "Automatic Millionaire" products that Bach has scattered throughout this revised edition, and the final chapter on tithing also seemed a bit preachy to me. Overall, though, this is a great financial guide for people who are ordinarily intimidated by money or are just getting started with serious financial planning. I think everyone will be able to find some useful information in this book. It changed the way I think about money and I've already taken a few steps to move toward a more "automated" financial lifestyle. I'm also going to suggest that my husband read this book so we can apply Bach's techniques to our collective financial assets.
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J. Richards (MSL quote), USA
<2006-12-21 00:00>
I have never read any other book by David Bach, but after reading this book I don't see myself picking up any other book from him. There was nothing in this book that was new or any of these ideas were from him.
I truly don't believe that the McIntryre even existed. Fist he takes the majority of his ideas from Robert T. Kiyosaki (author of Rich, Dad, Poor Dad), such as pay yourself first and showing examples of the rat race. There was a special in a magazine recently with an interview from Robert T. Kiyosaki and he admitted that his "rich dad" was a make believe character and from the looks of this book and how he even has him in the introduction about this past book and he mentions him at the end of Acknowledgements. I believe they both have the same technique or making up characters to better support their ideas or in this case other people's ideas. Also he wrote a few book first and never mentioned the McIntryre and now all of a sudden they changed his life and they were the most important thing he ever learned. Personally sounds like a made up character to justify his points.
Most of the book is about having things done automatically, hence the title "automatic millionaire". He has a chapter dedicated to having your 401k plan done automatically and personally at my job and most people I know it's always done automatically. It's taken out before they get their paycheck. If people don't contribute that's up to them, but I've never worked with anybody who didn't know what a 401k plan is if it's offered at their job and that they can do it automatically.
The "latte factor" has some grounds, but it's over stated. I do believe that you shouldn't blow your money and spend it on something like for example a latte versus making coffee at home before going to work. Bach only brings up on what people spend money, but not alternatives, which means he only factors in what it would cost for something and not what the alternative would cost. This is where there's a book that I would recommend called "all your worth", this book has a section dedicated called count your dollars and not your pennies.
The authors of the book basically tell you most people count their penny "the latte factor", yet they aren't looking at dollars. They are paying too much for life insurance, car insurance, home insurance and their mortgage is probably too high of a rate for too many years. Basically counting your dollars and not your pennies explains how your "qualify of life" would basically remain the same, but most Americans are paying way too much for big ticket things. So the book explains you should count your dollars, because these are more important than these little pennies. I'm already saving 40 dollars a month and my parents are saving 200 dollars a month, which doing some of the things that's recommend in the book. This is why I'm not a big fan of the "latte factor", because it's important not to blow your money, but you need to look at big ticket items first and then small ticket items.
I can't think of one good reason to recommend this book. Maybe if you are financially clueless and you don't know where to start, but even then I'm sure some of those dummies books would be a better start than this book.
I'll give it two stars incase you've never heard of a 401k plan before or biweekly mortgage payments and you need some advice it's better than nothing.
(A negative review. MSL remarks.)
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1 2 Total 2 pages 14 items |
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