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r4storytime's review
2.0
This book should be read by someone in college I guess. the concepts are so basic and simple...and of course, as they are the "automatic" millionaire ideas, it will take time to show any results...therefore, better to start early.
miskozverys's review
2.0
2*- because it’s US focused and 50% of advice just can’t be directly applied to Europe market. However it does entail some useful nuggets of more universal information.
spinstah's review against another edition
2.0
I'm not sure what I was expecting, but this wasn't quite it. Bach's thing is 'pay yourself first through automated paycheck withdrawal.' Then of course, you can save without having to think about transferring your money, compound interest, etc. This is not really news to me, I'm already doing it. This got me thinking a little bit that I need to try and put away more than I currently am, but that's really it.
So, the message is fine, but the tone of the book really annoyed me. It's written in a pep-talky, incredulous tone that presumably is trying to drive home the 'can you believe it's this easy?!' message. I wasn't so much into that.
So, the message is fine, but the tone of the book really annoyed me. It's written in a pep-talky, incredulous tone that presumably is trying to drive home the 'can you believe it's this easy?!' message. I wasn't so much into that.
kainsnow's review
3.0
Good primer/intro to money management. Key takeaways:
1) Pay yourself first
2) Find a way to have your money make money
3) Buy a house
4) Get rid of credit card debt
5) Donate to charity
6) Automate everything above
I recommend this book for anyone just getting started in financial management. Concepts are easy to understand and the author provides scenarios that are easy to relate to.
1) Pay yourself first
2) Find a way to have your money make money
3) Buy a house
4) Get rid of credit card debt
5) Donate to charity
6) Automate everything above
I recommend this book for anyone just getting started in financial management. Concepts are easy to understand and the author provides scenarios that are easy to relate to.
krissi's review
Had to read this for my business class, but ended up listening to it via audiobook. Was very insightful and got me motivated to start saving for my future! Would like to sit down and re-read the book itself sometime and take notes along the way.
davidjordan's review
5.0
Given that there are probably thousands of self-help style financial books on the market, the trick is to appeal as simply and quickly as possible to the reader who needs and wants some solid instruction on making wise decisions with one's income. This is that book. Surprisingly simple and tremendously encouraging, this volume includes several basic financial maneuvers that can be accomplished in very little time at all, and will pay big dividends in the future. Best for those at the start of their wage-earning years, but helpful for anyone ready to begin making the smartest choices with their money.
camsbookcase's review
2.0
As a bit of a personal finance nerd, I picked this book up when I spotted it at a used bookstore. I recognized the author’s name (ever heard of the Latte Factor?) and I thought I’d give it a whirl.
I may have liked this book a bit better if I had read it back when it was written in 2003. Besides being dated though, it is also cheesy and EXTREMELY basic. Even for the personal finance novice though, there are many, many books I would recommend over this one. (Beat the Bank by Larry Bates or The Simple Path to Wealth by JL Collins are 2 good ones). The main message of the book is that you should “pay yourself first” by “automatically” putting a set percentage of your income into RRSPs every month. Bach recommends RRSPs only, I guess because TFSAs weren’t a thing back in 2003? He doesn’t mention anything about weighing your income level and tax bracket against what they might be in retirement, and therefore whether RRSPs are an appropriate investment vehicle for you. He also recommends investing in mutual funds, but I suppose ETFs also weren't a thing back then. There are a few other things in the book that I questioned or disagreed with, but implementing the recommendations Bach makes certainly wouldn’t be a BAD thing. I just think you could do much better. And it would probably be best to get your advise from a book written more recently. I read the Canadian version.
I may have liked this book a bit better if I had read it back when it was written in 2003. Besides being dated though, it is also cheesy and EXTREMELY basic. Even for the personal finance novice though, there are many, many books I would recommend over this one. (Beat the Bank by Larry Bates or The Simple Path to Wealth by JL Collins are 2 good ones). The main message of the book is that you should “pay yourself first” by “automatically” putting a set percentage of your income into RRSPs every month. Bach recommends RRSPs only, I guess because TFSAs weren’t a thing back in 2003? He doesn’t mention anything about weighing your income level and tax bracket against what they might be in retirement, and therefore whether RRSPs are an appropriate investment vehicle for you. He also recommends investing in mutual funds, but I suppose ETFs also weren't a thing back then. There are a few other things in the book that I questioned or disagreed with, but implementing the recommendations Bach makes certainly wouldn’t be a BAD thing. I just think you could do much better. And it would probably be best to get your advise from a book written more recently. I read the Canadian version.
_uncle_rico's review
4.0
A quick and easy read which is what the author said it would be. I don't think any of the information provided is groundbreaking but it covers the major things one can do to build financial security, but all the info could also be found on YouTube or Reddit. Helpful advice nonetheless
samuel_dot_guv's review
3.0
I don't know about millionaire but it really helped me to understand the benefits of saving early and the options there are to do so.