Scan barcode
A review by wooknight
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach
4.0
A very practical and easy book !!
Pay yourself first
Work at 10% for yourself every week i.e save at least four hours worth for yourself every week
Do not rent but buy your residence
Pay off your mortgage early by making fortnightly payments (you make 26 payments and therefore an extra month every year)
Be aware of the Latte factor (the tendency to make small purchases which eats into your savings but provides little value for eg . A starbucks latte with a muffin everyday = 365 * $6 = $2190)
Always invest in your 401K or 403B (if your employer matches then maximize your contributions )
This is probably the most controversial - Invest less than 25% in your employer's stock .
Avoid credit card debt
Pay yourself first
Work at 10% for yourself every week i.e save at least four hours worth for yourself every week
Do not rent but buy your residence
Pay off your mortgage early by making fortnightly payments (you make 26 payments and therefore an extra month every year)
Be aware of the Latte factor (the tendency to make small purchases which eats into your savings but provides little value for eg . A starbucks latte with a muffin everyday = 365 * $6 = $2190)
Always invest in your 401K or 403B (if your employer matches then maximize your contributions )
This is probably the most controversial - Invest less than 25% in your employer's stock .
Avoid credit card debt