This is a very good book, especially if you are young and just starting out. It however doesn't really introduce any new ideas to people who have read any of the traditional financial books. The concepts in this book are very simple, and if you do them you will have financial independence, it really is that simple yet the vast majority of people don't do them and he gives a variety of reasons people give so I won't reiterate. Thankfully I was taught many of these ideas when I was about 18 and put them into practice then.

The only thing that is a little exaggerated is all his charts are based on a historic stock market return of 10%. When I checked this week it was more like 9.5%, but even then you can't buy/sell stocks or mutual funds without fees. Most people will end up in mutual funds that can suck a lot of your return if you are not careful. (Read Millionaire Teacher by Andrew Hallum) Also, he wisely recommends diversifying your investments, including some safer investments which will again eat away at the return rate. You'll probably only end up with somewhere around 7% return, which is really good, but when compounded over a 42 year period like in the included graphs the difference between 7% and 10% is pretty massive. Please don't let that scare you off, there is so much good advice in this book, and if you really follow the advice you will not have to worry about money in your later years.

Very easy read. Read this in one day. Not a lot of new info if you have read other beginner personal finance books but still a good read and gives numbers on compounding.

This isn't my usual reading fodder (no fantasy or magic or teens falling in love), but it was a really interesting and insightful book. Ignoring the title (which sounds scam-y), this book is actually an excellent resource and breakdown of a really simple and common-sense way to save more money and be more efficient with bills, debt, savings, etc. The author talks about setting up direct deposits for 401ks and savings accounts (as well as investing savings to build interest, etc) and planning for your future by "paying yourself first." This concept is something I've heard many times from my parents, but I liked how the author broke things down and explained the benefits and how easy and painless this savings method can be. It also explains some REALLY excellent tips on buying a home and home ownership, and good "life-hacks" to pay your mortgage down much faster (and thus paying less interest). It's a little dated (printed in 2003) but the ideas hold true and is worth reading if you're trying to be a better adult. :)

This is very good basic material that I wish I had paid attention to when I was a young man just getting started. It would have put me decades ahead in life financially.

I LOVE THIS BOOK!! Excellent read for anyone trying to figure out what their future will look like and how they can begin working towards that right now. This book offers sage advice on getting and staying out of debt with simple implementable daily action steps. I recommend this to anyone graduation from college or wondering how they will be able to afford retirement. I also recommend finding a Financial Planner who with help you create a plan.

I really recommend I thought it was going to be one of those books that will bore you to death but it was actually very interesting.

read the first chapter (motivational and eye-opening if you haven’t ventured far into the personal finance realm), skim the rest.

تعديل 12-11-2016: اعيد قراءة الكتاب هذه الايام ورقى مترجم للعربية من اصدار العبيكان

نزلته من على النت فى صورة فولدر كبير به 9 فولدرات ل 9 موضوعات بداخل كل منها ما بين 8-12 مقطع صوتى كدروس حول ذلك الموضوع العام
- كورس المليونير التلقائى و 6 اسلة يجب ان تسألها ل نفسك
- قصة latte factor
-ادفع لنفسك اولا و معادلة ديفيد باخ للحصول على الثروة
- حسابات التقاعد و انواعها "و دى حاجة خاصة بالمجتمع الامريكى"
- الاسواق المالية و حساب الطوارىء
- اشترى منزلك الخاص و مساوء التاجير و مميزات امتلاك المنزل
-بطاقات الائتمان و عيوبها و كيفية التخلص منها
-التصدق و فوائده
-كيفية صنع اسلوب ملفات خاص مكون من 13 ملف لكل معلوماتك المالية لسهولة الوصول اليها

اكتشفت ان كل اغلب نقط الكتاب و التى تنطبق على اقتصاد بلدى "المهترىء" ب الاساس و يمكن تنفيذها انا انفذها ب الفعل
و الحمد لله
- لا ديون و لاا قروض
- لا بطاقة ائتمان
- لا تأجير و انما امتلك منزلى الخاص
-لا latte factor من الاساس و انما اعيش فى مستوى معقول
- اتصدق و الحمد لله
-لا يوجد لى حساب طوارىء :(

بينما النقاط الاخرى و التى للاسف فى بلاد ��لاقتصاد القوى - لا يمكن تطبيقها هنا على ارض الواقع-و التى تتيح لك بضائع بنكية اكثر و متنوعة للاختيار منها و باسعار متفاوتة و شفافية فى اسعارها و شروطها
و هو ما لا يوجد ف اقتصاد بلدى المهترىء
فى كل خطوة كان يقول يمكن الوصول ل موقع كذا به كل تلك المنتجات البنكية و الاعتمادية او الاقراضية للاختيار من بينها وب اقل سعر فائدة و احسن شروط و و و و
مبادىء التنافس الشريف و تكافى ء الفرص
و هو ما يعيدنى للتفكير فى كلام felix dennis فى كتابه
i want you to be rich
عن ان اول خطوات سعيك للثراء هو ان تكون بالاساس فى بلد ذو قاعدة اقتصادية سليمة تشجع الادخار الفردى و الاستثمار وا نشاء المشاريع و التنافس الشريف و الكسب
بيئة رأسمالية صحية باختصار

وهو ما لا يوجد فى اقتصاد الجنرالات

و لعدم انطباقية تلك النقاط على واقعنا او واقعى فقدت الاهتمام بتلك الاجزاء مما افقد الكتاب - لا لعيب فيه و انما لعيب فى انا - تلك النجوم

الكتاب التالى : ملهمون

Glad it was an easy read (about 3.5 hours). The information about buying a home vs. renting seemed to be good info for someone with little knowledge about home ownership. Aside from that, there was not much content I found useful or applicable. Basically: this was a "getting a handle on your financial future" type book that didn't stand out in comparison to other financial books I've read.

3.5/5 ✨

As someone who’s always seeking financial wisdom, I found “The Automatic Millionaire” to be an enlightening read. David Bach, the author, distills complex financial concepts into practical steps that anyone can follow. Here are my key takeaways:

Pay Yourself First: Bach emphasizes the importance of automating your savings. By setting up automatic contributions to your retirement accounts or investment funds, you ensure consistent wealth-building without relying on willpower.

Debt Elimination: The book advocates for debt reduction as a crucial step toward financial freedom. Bach’s approach is refreshingly straightforward: pay off high-interest debts systematically.

Frugality with Purpose: Living frugally doesn’t mean sacrificing joy. Bach encourages readers to cut unnecessary expenses while still enjoying life. It’s about aligning spending with your values.

The Latte Factor: Small daily expenses add up over time. Bach introduces the concept of the “Latte Factor,” where skipping that daily latte can lead to significant savings. It’s a wake-up call for mindful spending.

While the book lacks depth in some areas, it compensates with actionable advice. The real strength lies in its simplicity—no complex budgeting required. Whether you’re a financial novice or a seasoned investor, “The Automatic Millionaire” offers a blueprint for building wealth effortlessly.

Note: I deducted a star and half due to occasional repetition and lack of advanced strategies. However, if you’re looking for a practical guide to financial success, this book is a solid choice.

Remember, financial literacy is a journey, and this book serves as an excellent starting point.

This book is perfect for people who have a stable living-wage job, no pregnancies or kids or familial caretaking duties, employer-provided health insurance, no expensive health conditions, and who can buy a house in the same area as the aforementioned job.

Not helpful for anyone who experiences or has experienced unexpected injuries/health conditions, systemic oppression, or residual economic penalties for being a woman or person of color, or simply does not magically have a job that pays a real living wage where they live.

So I guess this book is for college-educated Libertarians (mostly white men)?

Very glad I read the Blinkist version because this book would have wasted hours of my time that I could have spent working on my freelance business.

Great lessons, but very repetitive. Would have made an excellent article.