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　　Despite its sensational title, David Bach's The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich is not a get-rich-quick guide. Rather, the book is a straightforward march through common-sense personal financial planning that suggests readers "automate" their contributions to retirement and investment vehicles. Bach, in fact, calls his model the "tortoise approach" to becoming wealthy by retirement age.
　　In the early part of the book Bach builds on ideas he established in Smart Women Finish Rich and other bestselling titles. His core principle is that, to succeed, you must "Pay Yourself First." In other words, he suggests using pre-tax retirement accounts (e.g. 401(k)s or IRAs) to set aside a fixed, monthly sum of money before considering what is left for living expenses. The "automatic" part of the title comes from Bach's emphasis on using automated payroll deductions to avoid the temptation of using the money to pay today's bills.
　　Bach insists that "regardless of the size of your paycheck, you probably already make enough money to become rich." But his claims that his plan requires "no budget, no discipline," is a bit disingenuous. His discussion of the "The Latte Factor" shows that, to find money to start a retirement plan, a person with a modest income needs to make an up-front commitment to stop accruing debt and to reduce spending on such "wasteful" items as lattes and cigarettes.
　　In the end The Automatic Millionaire does not offer much that is new for readers already familiar with personal finance basics like accelerated mortgage payments, "the miracle of compound interest," and the setting up of emergency funds. But, for those just starting with financial planning, Bach provides a host of resources to put recommendations into action. He walks his readers through such fundamentals as shopping for interest rates, creating a balanced retirement portfolio, and consolidating debt. And Bach's conversational style will make this quick read highly palatable for those daunted by more detailed investment and personal finance titles. --Patrick O'Kelley

内容简介

　　What’s the secret to becoming a millionaire?
　　For years people have asked David Bach, the national bestsellingauthor of Smart Women Finish Rich, Smart Couples Finish Rich, andThe 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 thatsecret.
　　The Automatic Millionaire starts with the powerful story of anaverage American
　　couple--he’s a low-level manager, she’s a beautician--whose jointincome never exceeds $55,000 a year, yet who somehow manage to owntwo homes debt-free, put two kids through college, and retire at 55with more than $1 million in savings. Through their story you’lllearn the surprising fact that you cannot get rich with a budget!You have to have a plan to pay yourself first that is totallyautomatic, a plan that will automatically secure your future andpay for your present.

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 college, and retire at 55
with more than $1 million in savings. Through their story you’ll
learn the surprising fact that you cannot get rich with a budget!
You have to have a plan to pay yourself first that is totally
automatic, a plan that will automatically secure your future and
pay for your present. 
　　What makes The Automatic Millionaire unique: 
　　You don’t need a budget 
　　You don’t need willpower 
　　You don’t need to make a lot of money 
　　You don’t need to be that interested in money 
　　You can set up the plan in an hour 
　　David Bach gives you a totally realistic system, based on
timeless principles, with everything you need to know, including
phone numbers and websites, so you can put the secret to becoming
an Automatic Millionaire in place from the comfort of your own
home. 
　　This one little book has the power to secure your financial
future. Do it once--the rest is automatic!

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作者简介

　　David Bach is the author of the national bestsellers Smart Women Finish Rich, Smart Couples Finish Rich, and The Finish Rich Workbook, and the host of his own PBS special, “Smart Women Finish Rich.” Bach’s Finish Rich Seminars are now the leading financial seminars in North America, having been taught in over 1,700 cities by thousands of financial advisors. He is a Money Coach on America Online (AOL Keyword: David Bach) and the host of his own nationally syndicated radio show Live Rich with David Bach. To read excerpts of any of David Bach’s books please visit his website at www.finishrich.com.

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　　CHAPTER ONE
　　MEETING THE AUTOMATIC MILLIONAIRE
　　I'll never forget when I met my first Automatic Millionaire. Iwas in my mid-twenties and was teaching an investment class at alocal adult-education program. Jim McIntyre, a middle-aged middlemanager for a local utility company, was one of my students. He andI hadn't spoken much until one day when he came up after class toask if he could make an appointment with me to review his and hiswife's financial situation.
　　The request surprised me. Though I felt strongly (and still do)that just about everyone can benefit from the advice of a qualifiedfinancial planner, Jim didn't strike me as the type who would seekit out.
　　I told him I'd be happy to set up a meeting, but if he wanted myhelp, his wife would have to come too, as my group managed moneyonly for couples who worked on their finances together.
　　Jim smiled. "No problem," he said. "Sue's the reason I'm here.She took your Smart Women Finish Rich seminar and told me I shouldsign up for your course. I've liked what you've had to say, and weboth figure it's time to do some financial planning. You see, I'mplanning to retire next month."
　　Now I was really surprised. I didn't say anything, but as Ilooked Jim up and down, I doubted he could be in a position toretire. From the few comments he had made in class, I knew he wasin his early fifties and had worked for the same company for thirtyyears, never earning much more than $40,000 a year, and didn'tbelieve in budgets. I also knew that he considered himself to be"ultraconservative," so I figured he couldn't have made a fortunein the stock market.
　　My Grandma Rose Bach had taught me never to judge a book by itscover. But something didn't add up. Maybe Jim had just inherited alot of money. For his sake, I hoped so.
　　"WHAT AM I MISSING HERE?"

CHAPTER ONE 
　　MEETING THE AUTOMATIC MILLIONAIRE 
　　I'll never forget when I met my first Automatic Millionaire. I
was in my mid-twenties and was teaching an investment class at a
local adult-education program. Jim McIntyre, a middle-aged middle
manager for a local utility company, was one of my students. He and
I hadn't spoken much until one day when he came up after class to
ask if he could make an appointment with me to review his and his
wife's financial situation. 
　　The request surprised me. Though I felt strongly (and still do)
that just about everyone can benefit from the advice of a qualified
financial planner, Jim didn't strike me as the type who would seek
it out. 
　　I told him I'd be happy to set up a meeting, but if he wanted my
help, his wife would have to come too, as my group managed money
only for couples who worked on their finances together. 
　　Jim smiled. "No problem," he said. "Sue's the reason I'm here.
She took your Smart Women Finish Rich seminar and told me I should
sign up for your course. I've liked what you've had to say, and we
both figure it's time to do some financial planning. You see, I'm
planning to retire next month." 
　　Now I was really surprised. I didn't say anything, but as I
looked Jim up and down, I doubted he could be in a position to
retire. From the few comments he had made in class, I knew he was
in his early fifties and had worked for the same company for thirty
years, never earning much more than $40,000 a year, and didn't
believe in budgets. I also knew that he considered himself to be
"ultraconservative," so I figured he couldn't have made a fortune
in the stock market. 
　　My Grandma Rose Bach had taught me never to judge a book by its
cover. But something didn't add up. Maybe Jim had just inherited a
lot of money. For his sake, I hoped so. 
　　"WHAT AM I MISSING HERE?" 
　　When the McIntyres came into my office a few days later, they
looked exactly like what they were: hardworking, "average Joe"
Americans. What has stuck in my mind about Jim is that he was
wearing a short-sleeved dress shirt with a plastic pocket protector
in his breast pocket. His wife, Sue, had a little more flair, with
some seriously blond highlights. She was a beautician, a couple of
years younger than Jim. 
　　The thing was, they didn't act like middle-aged people. They were
holding hands like two high school kids on a first date, bubbling
with excitement. Before I could ask how I could help them, Jim
started talking about his plans and what he would do with his free
time. As he did, Sue kept exclaiming, "Isn't it great he can retire
so young! Most people can't retire until they reach sixty-five if
then, and here's Jim able to do it at fifty-two!" 
　　"LET'S NOT GET AHEAD OF OURSELVES." 
　　After ten minutes of this, I had to interrupt. "Guys, your
enthusiasm is contagious, but let's not get ahead of ourselves
here. I've met with literally hundreds of potential retirees over
the last few years, and I have to tell you--hardly any of them have
been able to retire in their early fifties." I looked Jim in the
eye. "Usually people come to my office to find out if they can
retire," I said. "You already seem to be sure you can. What makes
you so certain you can afford to?" 
　　Jim and Sue exchanged a look. Then Jim turned back to me. "You
don't think we're rich enough," he said, "do you?" The way Jim put
it, it wasn't exactly a question. 
　　"Well, that's not the way I would have phrased it," I replied,
"but yes, it takes a fair amount of money to fund an early
retirement, and most people your age aren't even close to having
saved enough. Knowing what I do about your background, I'm
truthfully curious about how you could possibly have enough money."
I looked him in the eye. He gazed back at me serenely. 
　　"Jim, you're only fifty-two." I said. "Considering that only
about one in ten people can barely afford to retire at age
sixty-five with a lifestyle equal to what they had when they
worked, you have to admit that retiring at your age with your
income would be a pretty big feat." 
　　Jim nodded. "Fair enough," he said and handed me a sheaf of
documents. They included his and Sue's tax returns as well as
financial statements that listed exactly what they owned and
owed. 
　　I looked first at their tax returns. The previous year, Jim and
Sue had earned a total of $53,946. Not bad. Not rich, to be sure,
but a decent income. 
　　Okay, next. How much did they owe? 
　　I scanned their financial statements. I couldn't find any
outstanding debts listed. "Hmm," I said, raising an eyebrow. "You
have no debt?" 
　　"THE MCINTYRES DON'T DO DEBT." 
　　They exchanged another smile, and Sue squeezed Jim's hand. "The
McIntyres don't do debt," she said with a chuckle. 
　　"What about your kids?" I asked. 
　　"What about them?" Jim answered. "They're both out of college, on
their own, and God bless 'em." 
　　"Well, all right then," I said, "let's see what you own." I
turned back to the financial statement. There were two homes
listed: the house where they lived (valued at $450,000) and a
rental property (a second house valued at $325,000). 
　　"Wow," I said. "Two houses and no mortgage on either?" 
　　"Nope," Jim replied. "No mortgage." 
　　Next came the retirement accounts. Jim's 401(k) balance currently
amounted to $610,000. And there was more. Sue had two retirement
accounts of her own that totaled $72,000. In addition, they owned
$160,000 in municipal bonds and had $62,500 in cash in a bank
savings account. 
　　Talk about a substantial asset base. Add in some personal
property (including a boat and three cars--all fully paid for) and
they had a net worth approaching $2 million! 
　　By any standard, the McIntyres were rich. It wasn't simply that
they owned a lot of assets free and clear (though that in itself
was pretty impressive); they also had a continuing stream of income
in the form of interest and dividends from their investments and
$26,000 a year in rent generated by their second house. On top of
that, Jim had qualified for a small pension, and Sue liked being a
beautician so much that she planned to keep working until she was
sixty (even though she didn't need to). Suddenly, Jim's plan to
retire at fifty-two didn't seem so crazy. In fact, it was
completely realistic. More than realistic--it was exciting! 
　　"WE INHERITED KNOWLEDGE." 
　　Normally, I don't get wide-eyed about people's wealth. But there
was something about the McIntyres that impressed me. They didn't
look rich. And they didn't seem terribly special. To the contrary,
they seemed perfectly ordinary--your average, nice, hardworking
couple. How could they have possibly amassed such wealth at such a
relatively young age? 
　　To put it mildly, I was confused. But I was also hooked. I was in
my mid-twenties at the time, and even though I was making good
money, I was still basically living paycheck to paycheck. Some
months I did manage to save a little, but more often than not I'd
get busy or spend too much the next month and not save a dime. Many
months it seemed that instead of getting ahead, I was falling
behind, working harder and harder to make ends meet. 
　　It was embarrassing, really, and frustrating. Here I was, a
financial advisor teaching others how to invest, and I was often
struggling myself. Even worse, here were the McIntyres, who
probably in their best year barely made half of what I was making,
and yet they were millionaires, while I was falling further and
further into debt. 
　　Clearly, they knew something about taking action with their money
that I needed to learn. And I was determined to find out what it
was. How could such regular people have amassed such wealth? Eager
to know their secret but not knowing where to begin, I finally
asked them, "Did you inherit any of this?" 
　　Jim broke out in a deep belly laugh. "Inherit?" he repeated,
shaking his head. "The only thing we inherited was knowledge. Our
parents taught us a few commonsense rules about handling money. We
just did what they said, and sure enough it worked. The same is
true for a lot of people we know. In fact, in our neighborhood,
about half our friends are going to retire this year, and many of
them are even better off then we are." 
　　At this point, I was hooked. The McIntyres had come to interview
me about how I could help them, but now I wanted to interview
them. 
　　LOOKING RICH VS. BEING RICH 
　　"You know," I said, "every week I meet people who take my classes
like you did but who are exactly the opposite of you. I mean, they
look rich, but when you get into the details of what they really
have, it often turns out that they are not only not rich but broke.
Just this morning, I met with a man who drove up in a brand-new
Porsche, wearing a gold Rolex watch. He looked loaded, but when I
went through his statements I found he was actually leveraged to
the hilt. A guy in his mid-fifties, living in a million-dollar home
with an $800,000 mortgage. Less than $100,000 in savings, more than
$75,000 in credit card debt, and he was leasing the Porsche! Plus
he was paying alimony to two ex-wives." 
　　At this point, the three of us couldn't help ourselves. We all
began to laugh. "I know it's not funny," I said, "but here was this
guy, looking rich and successful, and actually he's a financial and
emotional wreck. He handled his finances just like he drove his
Porsche: redlining all the way. Then you guys come in. You drive up
in a Ford Taurus. Jim here is wearing a ten-year-old Timex--" 
　　"Nope," Jim interrupted with a smile. "It's an eighteen-year-old
Timex." 
　　"Exactly!...

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