Essay Analysis on The Automatic Millionaire by David Bach
Chapter One, Meeting the Automatic Millionaire
This chapter concentrates attention on the story about an American couple that remains to create a big fortune by the development of a special automatic plan. Appropriate steps according to this story help these people to retire in 55 with the capital of more than one million dollars. This idea has become successful and brings them a huge amount of money. Also, the things that the author learned from this particular story are included.
Chapter Two, The Latte Factor: Becoming an Automatic Millionaire on Just a Few Dollars a Day
The importance and advantages of latte factors are demonstrated in this particular factor. The matter is that compiling a few dollars each, and saving that for the future can bring success and high material status. Bach emphasizes the idea that this method is rather useful and effective.
Chapter Three, Learn to Pay Yourself First
The name of this chapter discloses the main concept that is developed in this piece of writing. Bach recommends his readers to invest in yourself firstly, and that will bear fruits.
Chapter Four, Now Make it Automatic
Savings and investments should be approved automatically. Discipline violations or other additional factors have no right to interrupt the process of money accumulation. It is essential to set up things in your life in an appropriate way for the sake not to forget or miss something.
Chapter Five, Automate for a Rainy Day
Our life is an unpredictable thing, therefore we have to remember that emergency situations happen and no one is immune to them. The main concept of this chapter is to be prepared for such situations, and have additional money for the “rainy day” for the sake not to spoil automatic investments.
Chapter Six, Automatic Debt-Free Homeownership
Bach suggests the information about ownership of a home and claims that it is a completely positive aspect. Such an affair can save your money as for a renting home we need to may each mount while your own home is free for living. Also, people may earn a huge amount of money while they give apartments for rent.
Chapter Seven, The Automatic Debt-Free Lifestyle
This part demonstrates appropriate relations with credit cards. To live in a debt is not a suitable affair for a rich and successful person. That is why a plan for repayment should be included and implemented into one’s life.
Chapter Eight, Make a Difference with Automatic Tithing
The main idea in this chapter in that diving is also rewarded. That is why charity and the accomplishment of good deals are necessary. Bach recommends including presents and bestowals into the plan.
All in all, it is worse to mention that David Bach presented straightforward and clear steps for being successful financially and considering yourself a rich and welfare person. I like his ideas, and this plan seems to me rather relevant and effective in order to become a successful person in the materialistic dimension. Discipline and automatism in earning money are regarded as significant concepts for the welfare future. Also, the idea of investing in yourself is considered to be wise and pondered for me. I suppose it is worse to include such a tendency in my life. But his words “This is something I believe with all my heart. The fact is, there is more to life than money” (Bach, 234) stays the idea that a worthy life is better than an ocean of money. He gives instructions on how to become rich, still, he does not forget about a moral factor. Such an attitude also forces to respect his work and to be attentive to his advice.
Bach, David. “The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate” USA: Crown Publishing Group, 2005.