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“The Automatic Millionaire” by David Bach and Your Journey to Abundance

Need a Porsche? Let “The Automatic Millionaire” be your guide to financial freedom! Discover how you can live and finish rich with this one-step plan, and continue your journey with more financial literacy books in the Blinkist library.
by Chris Allmer | Jul 14 2023

In an era teeming with self-help books and financial advice, just a few titles stand out as starkly as “The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich”. This self-help book has earned its place among the most influential financial literacy books, standing as a lighthouse guiding you to economic stability and growth.

The crux of the “Automatic Millionaire” is its emphasis on systemizing wealth creation. It shuns the concept of budgeting or willpower, instead embracing an automated, foolproof system to build your wealth. The message is simple yet powerful: anyone can become a millionaire, irrespective of their income level or knowledge about investing.

“The secret to finishing rich is that you have to commit to it.”
— David Bach

“The Automatic Millionaire” presents practical and time-tested strategies to become a millionaire automatically—that is, without relying on a budget, without extraordinary discipline, and without earning a six-figure income. Sounds good, right?

Who is David Bach?

And the genius behind this remarkable financial guide is David Bach. An authoritative figure in personal finance, Bach has spent his career helping people worldwide understand money and how to use it better. Encapsulated in his financial literacy books, Bach’s philosophy revolves around the principle that financial planning should be straightforward and accessible to all.

So, you’re wondering how can I make this leap from understanding the importance of financial literacy books to practical application? The answer is at your fingertips with the Blinkist Library. This expansive collection offers compact, actionable summaries of leading self-development and financial literacy books. 

Here are our best recommendations for finally purchasing that little red car:

Top Books on Financial Freedom Available at Blinkist

Redefine Wealth for Yourself” by Patrice C. Washington challenges the conventional definition of wealth, saying, “True wealth isn’t about your bank account—it’s about your peace of mind.”

The Snowball: Warren Buffett and the Business of Lifeoffers a revealing look at the life and times of one of modern America’s most fascinating men: Warren Buffett. Find out how this shy and awkward man earned his first million dollars and how following a few fundamental rules enabled him to become the world’s wealthiest man.

Rich Dad Poor Dad” by Robert T. Kiyosaki outlines how you can become financially independent and wealthy. The author argues that what he teaches in this New York Times bestseller are things we’re never taught in society and that what the upper class passes on to its children is the necessary knowledge for getting (and staying) rich.

The Total Money Makeoverby Dave Ramsey is a step-by-step guide to turning your financial situation around, no matter how nasty it seems. By following these seven simple steps, you can put financial security back into your life and begin planning for a comfortable, contented retirement. And Dave Ramsay knows his stuff. Read here why!

Another noteworthy publication by David Bach on the topic of financial freedom is:

Smart Women Finish Rich” by David Bach

This financial guide is tailored to empower women in their journey toward financial independence and security. The book advocates for women to take charge of their financial destiny and challenges the stereotype that the world of finance is a man’s domain (everyone can buy a Porsche). Bach effectively simplifies complex financial concepts, offering relatable advice on managing money, investing wisely, and planning for retirement. Here are the top 3 takeaways:

Key takeaways from “Smart Women Finish Rich” include:

  1. The Importance of Financial Independence: Bach emphasizes that every woman should strive for financial independence, regardless of her relationship status or age.
  2. Prioritize Saving: It encourages setting aside a portion of income for savings, highlighting the practice of “paying yourself first”.
  3. Understand the Power of Compound Interest: Bach explains how compound interest can significantly grow your savings over time, an essential principle for successful investing.

All these financial literacy books and summaries offered by the Blinkist Library are more than just tools for acquiring wealth. They represent a movement towards a greater understanding of personal finance, an empowering journey of knowledge that transforms lives, builds wealth, and creates a legacy of financial freedom.

And if you want to dive deeper into money matters, “Rich Dad Poor Dad” by Robert Kiyosaki is a great choice. It’s known for changing how people think about and handle money. Blinkist has a great article about this finance book too, with all the main points you need to know.

Remember, as David Bach wisely puts it in The Automatic Millionaire, “The secret to finishing rich is that you have to commit to it.” Start your commitment to financial literacy today with Blinkist. And to give you a head start, get your free trial now!

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