The Automatic Millionaire book review

Everything is automatic. Netflix charges you automatically. Your library card is attached automatically. You can tap to pay. Everything is automatic.

So what about becoming a millionaire?

Today we’re talking about The Automatic Millionaire by David Bach. This is a nonfiction book focused on money and investing, and honestly, the concept is simple, but powerful.

David Bach is out here teaching people about money, going all over the place, doing what he does. Then he meets this couple and he assumes it’s going to be an easy conversation. They work regular jobs, the wife doesn’t work, and he’s thinking he’s about to walk them through retirement planning.

And they’re like… no. We already did it.

They tell him that all they did was save automatically. Money came out of their account automatically. It got transferred automatically. They didn’t use credit. They invested in their company’s 401(k) and let the match do its thing.

Everything was set up… automatically.

From that moment on, that’s what he’s been teaching: how to create automatic millionaires.

And I love this because I’ve actually been doing this.

I’m so proud to say I have over $500 in one savings account, $200 in another, and about $5,000 in my investment account, from putting in $35 a month.

$35.

I learned that from this book.

Am I a millionaire? No. I’m barely a thousandaire.

But this is more than I’ve had saved in years. Years.

And I’m not embarrassed to say that, because being honest about money helps other people learn and grow too.

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I’ve tried a bunch of different methods before this. I even tried the DOLP method: dead on last payment. It made sense in theory. You line up your debts, calculate the minimums, and it tells you what to pay off first.

But for me? I needed momentum.

I had one credit card with like $396 on it. Minimum payments were $30. And the method was like, “pay that one off eighth.” Eighth?

I needed a win now.

What worked for me was the automatic part. I was putting $35, then $65 into savings every couple of weeks. It came out automatically. I even set up a separate account and had 2% of my paycheck go straight there so I never even saw it.

That part worked. That part amazed me.

This book really lets you be human. You don’t have to rely on willpower or remembering or being perfect. You just set it up and let it run.

If you want to be an automatic millionaire, you have to automate everything -- your savings, your investing, your retirement accounts.

Act like that money was never yours.

When you think about your monthly budget, that $400 you’re saving? It doesn’t exist. It’s already gone, doing what it needs to do.

I’ve tried multiple things before and they didn’t stick. This one is easy. It works with you, not against you.

So yes… this book is going to make me a millionaire. I’m claiming it now.

https://www.youtube.com/watch?v=21gfHJxJM_c

Until the next book review, 

Kyla