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Put Your Money On Autopilot: THE AUTOMATIC MILLIONAIRE

2.2K Views December 15, 2017 Be first to comment

Put Your Money On Autopilot: THE AUTOMATIC MILLIONAIRE Pin It

You don’t have to earn a lot of money to be rich.
The rich get rich because they pay themselves first

– David Bach

My experience:

If you are already managing your money wisely and are applying principles from books such as “Rich Dad, Poor Dad” or “The Richest Man of Babylon”, then you might be disappointed by this book as it contains nothing new or revolutionary.

However, if you are as unaware as I was when I started the book, then this might be the paradigm shifting force you need to manage your financial life more efficiently.

I was especially inspired by the message explained through the example of the McIntyres. You can set up a plan to avoid worrying about your retirement money through a series of easy and practical steps, even if you are only earning an “average” wage.

So far so good for me. I have taken all the steps in the book and I am confident that I will be able to retire more comfortably than I would have if I had not taken the plunge.

There is no catch to this method, and of course I had to change my spending to be able to reach this situation. It is the way it is put in the book that changed the whole game for me and motivated me to save more money.

David Bach introduces concepts that can have a huge impact on the reader, such as the “Latte Factor” and compound interest.

The message is clear and demonstrated many times in the book: it is the small things we spend money on every day that prevent us from living our dream life and retiring early.

Not quite convinced? Take on the “Latte Factor Challenge” and see for yourself. You could end up saving more than 400$ a month without changing much of your day to day life: enough to buy a rental flat.

By taking all the steps suggested in the book, I also turned my financial plan around. In the process, I have lowered the amount of money I spend every month, but I don’t even feel the difference as this has been done gradually.

This is the great strength of David Bach’s method: whatever your expectations, there is a way to adapt the steps to your situation so that you can close the book at the end feeling confident that your money is now managed properly and effortlessly.

TOP NOTES

The McIntyres don’t do debt

Homeowners get rich; people who rent get poor.

If your financial plan is not automatic, you will fail!

the first thing we started saving for was our retirement.

you pay for your purchases with cash or you don’t buy. The only exception is buying a house

we’ve never carried credit card debt

we often spend our pay increases even before we get them

regardless of the size of your salary, you probably already earn enough money to become rich

Find the right pension scheme for you. Fund it with 10 per cent of your gross income. Make It Automatic.

Cash is just like the seat belt you buckle when you get behind the wheel of your car. When you go for a drive, you don’t plan to have an accident. Still, you wear your seat belt.

The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich*

*Affiliate Link

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Dimitri

Avid reader of personal development literature, passionate about writing, running and nutrition. Always looking to test new ideas and learn.

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Derniers articles

View

Zen to Done : 10 Habits To Plan Your Life The Easy Way

March 18, 2020

View

STOP FEELING OVERWELMED: THE POWER OF LESS

January 6, 2018

Le Millionnaire Automatique

View

Put Your Money On Autopilot: THE AUTOMATIC MILLIONAIRE

December 15, 2017

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Start a Perfect Day Everyday: THE MIRACLE MORNING

October 12, 2017

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