The Automatic Millionaire Book Review
| So here at a superincome, a blog about making money online and financial education we like to read books and listen to mp3′s. A friend of mine suggested a book called “The Automatic Millionaire”.
The book sounded interesting just from the title, when reading the blab of the book it promises people education and system in which anyone with any income can become a millionaire. The book is not the usual rar rar get rich quick hype, it’s more an educational straight talking book that gives financial planning advice. Further the book in places suggests simple solutions, that actually are common sense. Somehow reading the suggestions really makes them sink home. |
When I say common sense suggestions, I guess it is only common sense if like me you have spent time learning about money, saving and investing money.
If your not financially eductated, which a vast percentage of the world’s population aren’t then this is a good and easy book to read.
Now for my United Kingdom readers, the book is American. This means certain chapters of the book are targeted to the American Financial markets. However it is still well worth reading and learning the financial information presented.
Bach the author says the book is the “tortoise approach” in other words it’s getting wealthy slowely by retirement age. And wisely suggests “automating” your financial contributions to retirement and investment.
There is also a chapter relevant to today’s credit society. The chapter is the all about credit cards, and what, where, when and how you should pay them off.
If you decide to follow the system Bach suggests, then at first it does require budgeting and discipline. However over time, asuperincome.com would expect for most people for this to become habbit.
The author David Bach has also written “Smart Women finish rich” and “Smart couples finish rich”
The book itself explains the benefits of accelarated mortgage payments and the beauty of compound interest. The book is a quick read, and the chapters really can be blasted through whilst being able to absorb the information on how to become a millionaire by retirement age.
Finally a note from the author of this little article. I was clever and used Amazon to buy the book second hand. By doing this, I got the book for less than £2.
All in all the author of this blog article is glad he purchased the book, and is going to put the suggestions into practise. Hopefully using the simple suggestions, I will become an automatic millionaire.
