This is a dated book that includes some solid -- though incomplete -- advice.

David Bach promises that you can become a millionaire simply by making automatic payments to your savings, mortgage and debt. This isn't bad advice, but it is simplistic. He devotes a scant 15 pages to debt, and his advice boils down to "don't charge anything more and pay extra each month." Again, not bad advice, but anyone who has lived paycheck-to-paycheck knows this is easier said than done.

Bach promises you won't need a budget and you won't need discipline to get rich this way. I know from experience that this is not true since in my younger days, I set up all my savings and payments to happen automatically, didn't have a budget and racked up an ungodly amount of bank overdraft fees one year. Trust me, unless you are already rich, you need to be at least a little disciplined with your spending to make this system work.

Other questions, I had when reading this:

*If Jim and Sue McIntyre had done so well financially, why did they need a 20-something to review their retirement plans?

*For that matter, what was a 20-something doing giving out financial advice if the concept of paying yourself first is something he had never considered before?

*What sort of rate of return did the McIntyres have to amass $2 million in net worth over 30 years if their income was only $53,000? I understand the power of compounding interest, but their gains must have been phenomenal.

*If the McIntyres were so central to Bach developing The Automatic Millionaire, why weren't they thanked in the acknowledgements at the end?

I'm not saying the McIntyres are completely fabricated. After all, the copyright page does that pseudonyms are used and some details might be changed. But my impression is that the examples Bach uses are a far stretch from reality. That seemed especially obvious when he talks about a client paying 30% of their money in taxes. He obviously doesn't understand the graduated tax system if he thinks anyone is paying 30% of their income in federal income tax.

My view of the book may be colored by the fact that one of my pet peeves in when an author relates a conversation word-for-word (complete with knowing looks) when it seems unlikely he recorded it. This seems common in financial books when the "aw shucks" everyday man wows the hot shot planner with his common sense money wisdom. I could do without these corny conversations.

So this seems like a really negative review, right? Well, it is and it isn't. Setting up automatic savings and payments is good advice. Some of his suggestions are out-of-date (RIP ING) and his comment about foreclosures didn't age well, but this can still be a good read for those who are just starting out on their journey to financial freedom.

كتاب جميل.. بأفكار بسيطة.. ومبادىء صارت بديهية للراغبين في الثراء.. إليكم بعض أفكار الكتاب :
١- توفير ١٠٪ من دخلك..
٢- شراء منزل.. بدلا من الإيجار
٣- شراء سيارة قديمة بدلا من الجديدة..
٤- التخلص من الديون..
٥- مراقبة مصاريفك اليومية والتقليل منها ما أمكن
٦- الإستثمار ( أفكار هذا الجزء مخصصة للذين يعيشون في أمريكا.. لأن الكاتب أمريكي)

Its a very good book to know the secret of automatic money making. Young generation who has low personal financial literacy should read this book. I am sure this book will not gonna disappoint you.

Not a bad book. The only thing that I have against it is that it's so repetitive (especially for the first 3/9 chapters). It will give you a few tips on how to save your money automatically so that it's easier for you to retire early with no/minimum debt. I will also say that this book is more targeted towards Americans because it has a lot of tips and resources for the U.S. financial system.

In the beginning, I liked the book: easy written, explained concepts. I even contemplated giving it to my daughter...
But then it started... Some advice is not wise; it's dangerous.
Examples: * Talking about pre-tax account author forgets about tax aspect (as well as mentioning that you can do both 401k and IRA) * Advice to store emergency fund in bonds (what???) * Claiming that mortgage is better than renting (yes, it grows about 5% per year, but you spend up to 10% on maintenance to keep value + real estate TAXes; do the math, dude) * Suggesting people go with mortgage insurance if they cannot afford down payment (if they cannot afford a down payment they definitely cannot afford mortgage insurance).
I'm not going to give this book to my kid.

I read the author's book many years ago and remembered the Latte Factor. This book is more straightforward and simple. It doesn't talk budgets, instead it talks about ways to automate savings so that you don't have to think too hard or make choices. I liked this approach much better.

Much of the advice is not so different from other books. However, it is simplified and spends more time discussing why the approach works than how to make choices. The point is that you don't have to make a lot of decisions, after all. One issue I had was that so many of the examples used a 10% interest rate, which hasn't been common for a number of years now. This is essentially an update of an earlier book. So, may of the success stories are older as well. It would have been nice to have filled the book with more recent ones, though.

I received a copy of the ebook from the publisher through NetGalley.

I read one of David Bach's books back when I was starting my first job and it was helpful. This one, as far as I can remember, has the same type of information - good basics if you are not saving at all now or are in debt, but nothing much beyond that.

It was also written before the housing market crash, so I rolled my eyes a lot hearing about how you have to buy a house now or you'll never be rich, foreclosure is so rare, it's so easy to buy a house, check out Fannie Mae and Freddie Mac... I listened to this on audiobook, which was a terrible idea, because the author reads it and it's very much like cheesy infomercial. I was about to strangle someone after the 1,000th time he said "automatic millionaire."

Approachable and straightforward. Nothing groundbreaking but that’s fine. I do appreciate the focus on how consistent and seemingly small movements in the right direction leads to long term financial security

For someone who is wanting to know finances 101 in a palatable and realistic way, you really can't beat Auto Millionaire! Now I'm off to read Robbin's Money, Master The Game and then some Suze Orman. FYI - Bach has some fabulous videos on Youtube...

I thought this book was ridiculous, and I gave up on it on page 60. The premise of this book is automatically paying yourself (via payroll deduction) 10% of your income before any spending.

That is all well and good, but my biggest qualm with this book is how the author dismisses budgeting. Budgeting is not a constant lifestyle deprivation. You can budget for fun things!

This book may be good for people with absolutely no personal finance knowledge. But my opinion is, the most financially successful people avoid debt and have a plan for their money, not just mindlessly saving a blanket percentage of their income.

Its an older version of Start Late, Finish Rich. I enjoyed listening to it as well, but it was exactly the same content.

I found this book easy to read and packed full of information. It made me think about some of the ideas that I could implement to become financially stable. A wealth of information I would like to pass on to my children and any one who would listen