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Average rating: 4/5

Based on 14 ratings

The Automatic Millionaire, Canadian Edition: A Powerful One-Step Plan to Live and Finish Rich (Canadian Edition)

by BACH DAVID

Doubleday Canada | October 14, 2008 | Hardcover

Bestselling financial advisor David Bach brings us his proven, revolutionary system that in one hour will make readers -- even those not smart about money, not disciplined or budget-minded -- rich.

The Automatic Millionaire shows readers how to change financial practices and financial lives, beginning with a powerful story of an average Canadian couple -- he's a low-level manager, she's a teacher -- whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. The incredible message Bach delivers is that the key to getting rich is by "automating" the way to wealth "by paying yourself first," using automatic funded retirement accounts and money market accounts to secure the future and pay for the present.

In a short book destined for bestseller lists, The Automatic Millionaire introduces readers to a system that is powerfully simple, and automatically effective, a life-changing system that delivers. Do it once, the rest is automatic.
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  • Community Reviews
    • Was this review
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    This is a compelling, easy to read book about finance. It also encourages you to take action with each chapter. I have also passed the book onto several people who also enjoyed it.

    • Was this review
      helpful to you?

    A very readable and clear guide to common sense personal finance. I could relate to most of what Bach had to say and I am going to follow his advice. Everybody should read this book.

    • Was this review
      helpful to you?

    Don't let the title fool you. This is no get rich quick scheme. It's all about saving for the long-term and having a healthy financial future. I can't say enough good things about this book. This is an incredibly simple, common sense approach to investing and saving written for the average joe and jane. The book is an easy read about finances and it's not a bit boring. We put this simple plan to work for us in our house and we have never felt so at ease about our money matters. Everyone should read this book and be taught these simple financial strategies. It could be the most important book you ever read.

    • Was this review
      helpful to you?

    This book is a very quick read but definitely worth it! As your reading it you'll have one of those "Ah ha!" moments where everything that you knew will suddenly mean so much more and will be in a different context from what you "knew" before. You'll feel energized to act immediately on your newfound wisdom and probably just as excited to share your insights with everyone else you know!

    Quite literally this book takes the most simplest ideas, and puts them in perspective. You'll be asking yourself many times as you read this book, "Now, why didn't I think of that?"

    • Was this review
      helpful to you?

    Wow, its so simple and yet almost against everything that you are tought growing up and in school. A very quick read, Short and to the point. This book has changed my life. I very highly recommend that everyone should read this book it will change your thought process on how you save money and contribute to your rrsp's.
    The only thing negative about the book - that there is a lot of repeating, but I think that is how to pound the whole message in, over and over just keep telling the reader hey this is the easiest thing in the world to do you can do it to.

    • Was this review
      helpful to you?

    David Bach's book has revolutionized how I see my retirement. The principles are so straightforward and simple that anyone can follow them and retire in class.
    I can't recommend this book highly enough. If you have an ounce of willpower you CAN retire a millionaire. I liked it so much that I bought "Start Late, Finish Rich" and fully expect to do just that!

  • There are many books like this and if you do what they say you should be well off for retirement. The problem is most people don't follow the rules the book teaches you to apply to your life. Although this type of book has been written several times by various authors, David Bach at least makes the topic interesting, exciting and even comical. I would suggest this book most to people in their late teens to someone in their thirties simply because our current education system does not teach financial responsibility. This is not a get rich quick book which I am glad for as there are enough of those crowding the shelves.

    • Was this review
      helpful to you?

    There are many books like this and if you do what they say you should be well off for retirement. The problem is most people don't follow the rules the book teaches you to apply to your life. Although this type of book has been written several times by various authors, David Bach at least makes the topic interesting, exciting and even comical. I would suggest this book most to people in their late teens to someone in their thirties simply because our current education system does not teach financial responsibility. This is not a get rich quick book which I am glad for as there are enough of those crowding the shelves.

    • Was this review
      helpful to you?
    fjc

    Rating: 1/5

    Repetition, repetition, repetition

    fjc

    7 years ago

    This was one of the worst financial books I've ever read. Bach really just shows that how to make a lot of money is by creating a catch-phrase and then writing a book using that catch phrase every couple of lines without really saying anything. The book could be summed up in one sentence: automatically put money from your paycheque into a high yield account and watch it grow. You don't need to read through 200 pages to catch on. Save the money you're thinking of putting towards this book and put that money in a high yield account.

    • Was this review
      helpful to you?
    Chris

    Rating: 5/5

    Great book..very insightful

    Chris

    7 years ago

    I enjoyed the book, there is more to the title than Automatic Millionaire . David provides sound and easy to follow advice about money management. The Latte factor is an easy tool to implement in real life.

    • Was this review
      helpful to you?
    Hubert

    Rating: 5/5

    It Actually works!

    Hubert

    8 years ago

    A fantastic book which really allows you become wealthy by making smart choices. Guides through all the steps and gives you courage to start saving money.

    • Was this review
      helpful to you?
    Camille

    Rating: 5/5

    Worth the money

    Camille

    8 years ago

    I loved this book and would recommend it to anyone who hates the day-to-day details of financial planning. By following the principles laid down by Mr. Bach, retirement will be taken care of, homes will get paid for and credit card debt will become a memory. I also appreciated that this book encourages people to give back to their communities on a regular basis. It was an easy read with timeless principles about money management. It was fantastic and I enjoyed it immensely.

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