Book Review: The Automatic Millionaire By David Bach
One thing I’ve been on a crusade about for the last two years is personal finance. I know, firsthand, that salespeople are notoriously terrible at saving and investing money. Matter of fact, in my high-end mastermind called “The Tribe,” 50 percent of our focus is on investing money correctly.
Money: It’s one thing to make it, another to keep it and grow it.
I read this book a long long time ago and it really stuck with me over the years. My wife, Amy is a licensed financial planner and so is one of my great friends Nick Bellamy. Both of them have helped me realize some mental/money connections that have led me to upper limits when it comes to keeping what I earn.
Back when I went to church, I got in the habit of tithing 10 percent like clockwork. I lived the life. I gave God the first 10 percent and after 2-3 paychecks I never missed it. Flash forward, I pay myself the first 10 percent and I still never miss. it. I’ve been automatically stashing money in different accounts and investments for years now.
I’ve been able to amass a 7-figure net worth from saving and investing. Some in 401(k), some in real estate, some in stocks, some in life insurance, some in businesses and some in savings. Each time I get paid, I distribute accordingly. At first, it sucks, but after you make a habit of it, you never miss it.
Read this book and change your financial outlook on keeping the cash you work so hard to earn.
Click this link to get the book on Amazon today.