I really love Richard Bach. His writing is more accessible and down-to-earth than many of his financial advisor brethren. Bach’s books also lack the cockiness and pretentious tone many of them tend to have. While I tend to find financial books to be completely useless to me as someone with very little income and no clue, The Automatic Millionaire made me feel empowered and capable of taking control of, not only my money matters, but my life as well.

Others have discussed the ideas in the book but the one that really struck me was the importance he placed on tithing, or charitable giving. He devotes entire chapters to the subject and stresses the necessity of giving to others, no matter how much money you may or may not have.

Bach’s books are concise, easy to understand, and simple enough to actually put into practice. It’s too bad others don’t follow that outline.

My cousin recommended this book to me when I got my first job, right after getting my degree. I read this book alongside Suze Orman’s Young, Fabulous and Broke book and the two of them made quite a powerful effect on me. After being financially illiterate for most of my university years, I finally decided to take charge of my life.
What I like most about “Automatic Millionaire” is how Bach makes everything easy and simple for anyone. Basically, Bach recommends making everything automatic – make it as easy on yourself (by using technology) to mange your finances. Mainly, however, he says you must “Pay Yourself First”, before you spend your paycheck on bills, entertainment or even taxes, make it a habit to put something away in some sort of retirement vehicle and savings. This has really had a powerful effect on my life, and although I’m not close to being a millionaire, I know have retirement savings, emergency cash, short term savings and have not acquired any debt.
Another interesting concept is the “Latte Factor”, which tells us that making small purchases (such as expensive $3 coffees) each day can add up all the time. I’ve always believed in this, even before I read this book, but now I can fully explain it to my friends who come to me for financial advice.

There is nothing in this book that you do not already know. What IS here is a concise and disciplined way of applying what you know to wealth building. What the author proposes is simple; it just is not always easy, although once you make yourself establish the patterns he recommends it can become very easy.

If you can develop a true understanding of the latte factor and learn to respect, it this plan absolutely will work. It requires discipline, especially in the beginning but then, most good habits do. For some people this will seem like a naïve, unsophisticated book and a simplistic approach to saving. Perhaps that is what makes it so disarmingly powerful.

The author has several other books, many of which are variations on this theme. They reinforce and emphasize the effectiveness of his approach. A plan does not have to be complicated to be effective. This is a simple and effective plan that anyone can use.

The premisis on this book is setting your finances to auto pilot by paying yourself first via direct deposit into saving, retirements savings etc before you get the money in your hands. Because many people don't seem to save money once it is in their hands.
I think the idea is great but I expected more details on how to actually invest in a book with the word millionaire in the title.