The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich

I first read the Automatic Millionaire in 2007. I immediately made changes according to the common sense advice given in the book— such as setting up bi-weekly mortgage payments. I saw it again in 2025— Kindle format. I purchased it and re-read it. For the most part my wife & I been doing everything right. But in reconnecting with the book I found that there are a few more improvements that we can make. So, we’re in the process of making those changes for a more secure financial future. This is a wonderful book containing a wealth of financial insight. I highly recommend this book.

Being about 5-7 years from retirement (hopefully) I wasn’t sure if this book would have much value to me. While I consider myself to be fairly informed on basic savings and retirement planning, I found the book to be very informative, reminding me of things that I had never done and forgotten or known but not implemented. It helped me to revise and improve my plan by deliberately targeting increasing my savings and paying down my mortgage more quickly. I have gotten a copy of the book for my daughter and am recommending it to family members and anybody else looking to improve their retirement strategy and become an automatic millionaire. Quick read that is interesting and informative with simple ideas that anybody can use!

This was a great book on personal finance for beginners. If you're not familiar with the foundations of personal finance and want to start accumulating wealth: this is a fantastic book to get started with. It covers all the basic things you need to know to be successful at managing your money. The main concept is this: you should save at least 1/8th of your total (pre-tax) income. If you have debt (other than a house), pay that off first. Then, in this order, stock your money away: - In your 401k - Roth IRA - SEP IRA - Taxable accounts Use low-cost index funds (with a broker like Vanguard). If you do this, you'll live well and build a significant pile of money. The main idea of this strategy is that if you work a full-time job (and are doing 8 hours per day), you should be working at LEAST one hour per day for yourself (not your bills, etc.) -- this is where the 1/8th number comes from. If you can do more? That's great! If you can do less? Work on lowering your expenses or raising your income until you can make it happen.

The book premise is simple - if you invest early into your retirement fund and continue to allow the fund to grow, you will eventually be a millionaire. Okay, nothing earth-shattering there. If you do the math, yes, it will work. The author goes onto say you do not need a budget. That is assuming people do not overspend what's left over from their paycheck. He continues to add some helpful thoughts along the way including paying your mortgage in bi-weekly payments instead of once a month to cut out years of payments. All of this is pretty common sense and not rocket science. It would make a great book for someone beginning the journey in personal finances. You could go without buying the book and start to automatically save in your 401K and increase it every time you get an increase at work. That would save you the money of the book. However, in reading the book through (and it is an easy read), you may be more inclined to take action than if you just hear the principle. I made a few changes myself as a result of reading the book, so in that sense, the author has accomplished his goal.

The author has an excellent set of simple and straight points for everyone who wants to simplify their investments, and get to a good state. I loved the book, it was easy to read. I will not put those points in my review, as the author deserves the sale for all the efforts that he has put in. It's a good read. I am not sure if this needed to be a 250+ pages book, it could have been conveyed in about half the number of pages. But since the points are simple to understand, it is a very fast read. You don't need to labor through every paragraph. Overall, I would recommend this book to anyone. As the content is simple, it can also be a great book as a gift for teenagers.

This book is well worth it! I found it extremely useful.

Great! Thank you!

Good book. I had to read this book in one of my classes this semester. And I was hooked and made amends to improve my spending habits and reinvest my savings. It gave me a bit of peaceful mind. I’m taking his advice seriously. The author encourages folks to do their finances automatically and change their mindset to pay themselves first before billers. Curious? Read this book! Buy used via Amazon! Or wait for good deal to buy this book.

good book to read in a day and get a basis of investing in finances and yourself.

Nice book to read for a general understanding on the money world

In my opinion this book is one every child should read. I only wish I was given this book when I was younger but it’s still never to late!

O livro é fácil de ler e dispõe bastante informação que pode ajudar todas as pessoas a poupar, ou até mesmo a tornar-se financeiramente independente. Apesar de os conselhos serem bons, alguns deles não podem ser aplicados verbatim fora dos EUA, mas o princípio por trás dos mesmos pode facilmente ser aplicado de forma ajustada à realidade Europeia.

This book is really wonderful. It gives you good insights into financial management. You can follow the simple and elegant way of automatic process of wealth accumulation. You will come to know your Lotte factor. It reveals the benifit of quick repayment of mortgage loan. It advocates of essential charity factor that culminates the process of wealth creation. Good book.