Don’t be fooled by the title. The Automatic Millionaire, is not a get-rich-quick book. In fact, author David Bach takes exactly the opposite approach: slow and steady wins the race, just like the tortoise in the fable.

The “automatic” part comes in with Bach’s recommendation that you set up automatic payments into 401(k) or IRA plans from your paycheck every month. Having it set to occur automatically reduces the temptation to spend that money now.

The Automatic Millionaire, has a light, conversational tone and doesn’t get bogged down in complicated financial language. Bach’s recommendations are easy to follow and extremely logical.

As you read this fantastic book on personal finance, you’re likely to think, “Of course! Why didn’t I think of that?!”

This is part of the book’s genius - Bach’s ideas aren’t revolutionary or controversial. Many of them are simply common sense. Yet, how many people are actually applying these principles to their lives? Very few!

The book is a direct, yet gentle reminder; a motivator, and a teacher - something we all need in our lives every now and then.

David Bach's book, The Automatic Millionaire, teaches the idea of “pay yourself first.”

Bach’s suggestion is that you set aside 10 to 15 percent of every paycheck - pre-tax - as part of your retirement fund. It goes into a 401(k) or an IRA, and you don’t touch it – ever!

With the remainder of your money, Bach teaches good old-fashioned frugality. He uses memorable phrases like “The Latte Factor,” which is how all those “little” purchases like lattes and cigarettes add up to huge expenses over the course of an entire year.

He also recommends mutual funds as the safest, easiest way for the average person to invest money. Investments are key, because they earn interest - money for nothing, basically. Not enough people take advantage of this “no brainer” financial opportunity.

Bach offers plenty of encouragement, too, making the book a feel-good experience. Nearly everyone, regardless of their salary, earns enough to be a millionaire someday.

All it takes is planning, saving, and frugality. Most people simply don’t plan. They don’t save money from month to month, due to this lack of planning. Way too much money ends up being wasted because the money is simply not being tracked.

We all know this, of course, but “The Automatic Millionaire” is a nice reminder. It offers sensible, practical advice that anyone can follow.

By applying the ideas provided in this book, to your own life, you’ll find that (like the tortoise) you’ll eventually wind up the winner of the race.

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