The automatic millionaire
A Powerful One-Step Plan to Live and Finish Rich
by David Bach · first published 2003
75% recommend25% neutral
Why HN recommends it
A practical personal finance primer on automating savings. It covers paying yourself first and routing money into separate accounts or index funds. It is short, actionable, and suited to people just starting to save.
Summarised by Claude from recommending comments
What's the secret to becoming a millionaire?For years people have asked David Bach, the national bestselling author of Smart Women Finish Rich, Smart Couples Finish Rich, and The Finish Rich Workbook, what's the real secret to getting rich? What's the one thing I need to do?Now, in The Automatic Millionaire, David Bach is sharing that secret. The Automatic Millionaire starts with the powerful story of an average American couple--he's a low-level manager, she's a beautician--whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through
Affiliate links. As an Amazon Associate I earn from qualifying purchases.
Mentions per year
What Hacker News says
Related books
2009–2026I will teach you to be rich
Ramit Sethi
Recommended by 38 · mentioned by 4938 recommend · 49 mention38 recommend · 4938 recommend
2008–2026The Little Book of Common Sense Investing
John C. Bogle
Recommended by 27 · mentioned by 3127 recommend · 31 mention27 recommend · 3127 recommend
2008–2026The Richest Man in Babylon
George S. Clason
Recommended by 56 · mentioned by 7756 recommend · 77 mention56 recommend · 7756 recommend
2007–2026How to Get Rich
Felix Dennis
Recommended by 65 · mentioned by 7965 recommend · 79 mention65 recommend · 7965 recommend
2007–2026The millionaire next door
Thomas J. Stanley, William D. Danko
Recommended by 91 · mentioned by 15491 recommend · 154 mention91 recommend · 15491 recommend
2007–2026Rich Dad, Poor Dad
Robert T. Kiyosaki, Sharon L. Lechter
Recommended by 96 · mentioned by 27496 recommend · 274 mention96 recommend · 27496 recommend
…look at why I was bad with money, not how I was bad with it. I'd be interested to know if this is where the author found out about his own subconscious blocks. Two other books that helped me were "The Automatic Millionaire" by David Bach, which taught me to put my savings on autopilot, and "I Will Teach You to be Rich" by Ramit Sethi. Ramit is an author and blogger in his twenties who I've found to have the best day-to-day…
on “How to hack the beliefs that are holding you back” ↗"The Automatic Millionaire" by David Bach, https://m.barnesandnoble.com/w/automatic-millionaire-david-b... Recommends automatically paying a share of your income each month into index funds, and gives recommendations on how to…
on “A good resource for financial advice to share with people in their twenties?” ↗That depends on your temperament. I read Automatic Millionaire by David Bach and started saving money right away. I maxed out on tax savings through the advice in that book and used that money to bootstrap a company which I sold for a hefty price.
on “Rich dad, poor dad – the story that formed my views on making money” ↗For personal finance, I find The Automatic Millionaire gives usful and pragmatic advice: http://www.goodreads.com/book/show/621.The_Automatic_Million...
on “Ask HN: As a hacker and “math person”, how do I learn about finance?” ↗…money speech helped me get over an irrational, subconscious distaste for money but at the same time I recognized it for the capitalist fairytale that it is. So I suppose it helped me in a way that "The Automatic Millionaire" and other books helped jaysonelliot. Gruseom has apparently never read Rand, but manages a brief, wonderful analysis of Rand's flaws and absurdities above that captures the essence of what I found more…
on “How to hack the beliefs that are holding you back” ↗I started this right after college after reading "Automatic Millionaire" that advocates for "paying yourself first" and automating your finances. Money goes into checking then automated to online savings accounts, one account per purpose (xmas, vacation, kids college, kids…
on “Ask HN: What are the things that you have automated in your personal life?” ↗Same concept but different book. The Automatic Millionaire. Short and sweet, highly recommend
on “Ask HN: Which books made you the most money?” ↗…Can't Ignore You The 8 Traits Successful People The Box The Defining Decade - Why Your Twenties Matter - Meg Jay The Power of Habit Cracking the Coding Interview The Google Resume Brain Rules Automatic Millionaire Rich Dad Poor Dad Bootstrappers Bible Startup Nation The Lean Startup 7 Habits of Highly Effective People Ideavirus Traction - Gabriel Weinberg The Hard Thing About Hard Things The $100 Startup…
on “Ask HN: Books you read in 2018?” ↗this is nothing new... this is stuff straight out of the automatic millionaire by David Bach..wanna get rich? First step is pay yourself and get out of debt... then build up some solid investments.. real estate is a good way to build assets and wealth flipping or rentals..rentals…
on “This 4×6 index card has all the financial advice you’ll ever need” ↗