DAVID BACH AUTOMATIC MILLIONAIRE PDF
Are you ready to set up the system that will help you become an Automatic Millionaire? Then, let's get started. Live Rich,. David Bach. THE AUTOMATIC. All rights of reproduction in any form reserved. The Automatic Millionaire. Author: David Bach. Reviewer: Barbara O'Neill,. Publisher: Broadway Books, New. THE. AUTOMATIC MILLIONAIRE VISUALS. DAVID BACH S I M O N & S C H U S T E R. AUDIO. Table of Contents A Latte a Day Keeps Retirement Away.
|Language:||English, Spanish, German|
|ePub File Size:||28.87 MB|
|PDF File Size:||11.50 MB|
|Distribution:||Free* [*Regsitration Required]|
The Automatic Millionaire - David myavr.info - Download as PDF File .pdf), Text File .txt) or read online. Get started with the approach David's used to help millions automate their financial lives in less than an hour. Step 1: Download the Automatic Millionaire PDF. Debt Free For Life, The Automatic Millionaire, The Latte Factor, The FinishRich File Folder System, Rich Facebook wall at myavr.info
Action Steps For Session Six Session Seven: Automatic Debt Free Lifestyle Action Steps for Session Seven Session Eight: Automatic Tithing Action Steps For Session Eight Bonus Session: Getting Your Financial House in Order The Automatic Millionaire Where Does The Money Go? FinishRich, Inc. All rights reserved.
If you would like further information about FinishRich, Inc.
Congratulations on your decision. How could I become an Automatic Millionaire? Not you. You did something different. And that action is about to pay off. This program will teach you some concepts, some tools, and some ideas that will literally transform your life.
You need a system that will work while you sleep--a system that is automated. None of the material presented here is intended to serve as the basis for any financial decision. Presentation of performance data does not imply that similar results will be achieved in the future. By using it in conjunction with the audio program.
As each individual situation is unique. Preview the section of the Guide that goes with the audio session. For each session. Any such data is provided merely for illustrative and discussion purposes. Complete the exercises in this Guide By taking the time to preview the exercises before you listen to each session. While all of the stories and anecdotes described in this program are based on true experiences.
Such an offer is made only by prospectus. Listen to the audio session at least once.
The author and the publisher expressly disclaim liability for any losses that may be sustained by the use of the material in this program. The material in this program contains historical performance data. The American Dream is having the freedom to do what you want to do when you want to do it.
For some people the American dream is to have a million dollars. But you need to have money to have that freedom. Circle the appropriate answer: And if you do. The American Dream means different things to different people. You can have a really big income and make a whole lot of money and still not have freedom. Commit to Your Next Session It could be tomor row.
You knew you would never use it. This is money you have that could be getting you rich. Opening the door to the fridge. Quickly scrambling an egg. Getting dressed. Flipping through the channels of your television. When you said to the salesman. This concept works for all kinds of people. Picking up the phone to call your sister. Heading out to work. Chances are. Instead of heading out to Starbucks for your morning coffee. How does your day compare to the following?
The problem is not how much we earn. This is a core concept. In fact. You maintain your car. Sure beats that fast food burger you used to waste money on! Turning off the lights. You did some research on the Internet and found a great package vacation that will still get you to Las Vegas.
You also saved a lot of money last Christmas by paring down your gift list. All it takes is some planning and foresight. Returning home you see the basket of aluminum cans that your kids are recycling for money. You may be wealthy. All of these things add up to dollars in the bank.
You drive by the gas station where you used to fill your tank. In years past you might have racked up the credit cards with an expensive trip to Las Vegas. You also quit smoking. That multi-car discount really helped too. This year.
You are proud to teach your kids the same thing. That visit to old Aunt Mary was better than any bouquet of flowers you could have sent. A slumber party. Canceling your gym membership was a great idea. You are happy that they are learning how to live reasonably. Not to mention you are feeling healthier and so your co-payments for doctor visits are decreased too. While this is a bit of an extreme example. These days you are saving nearly 10 cents a gallon by choosing the gas station right next door.
You cancelled the road service part of the policy because you have AAA. Include everything. As our income goes up. Print out the form below and bring it with you as you go about your day. The Latte Factor Challenge Starting tomorrow.
If you need more room. The chart below can give you an idea. Fill in the last row with your own item. Take a look at how quickly this Latte factor can add up! Do the Latte Factor Math List one item from your spending tracker that you can find a less expensive alternative for.
You have to positively do your way to wealth. For now. That will come later. Do the Latte Factor math! That system stinks and is designed for you to fail financially. You need to change this. Why would you do all that to earn money and not pay yourself first? Most people pay everyone else before themselves: The average American saves less than 22 minutes a week of their income. The odds are set up against you. Of that money. You need to completely redirect your income so the first person who gets paid is you.
The first hour of every day that you work should be going to you. How much money did you earn this week? Now again. This session will cover these important ideas. Why would you wake up in the morning. Why would you do this 5 days a week. Where you should put that money? Even if you know all this.
Putting it another way. If you want to be in the Middle Class: If you want to be Poor: Spend everything you make.
If you want to be Super Rich super fast: If you want to be Rich: I promise that I will start paying myself first. I will work at least one hour a day for myself.
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
I deserve it! If you miss it. That includes the following.
The technology is not difficult to use. The only legal way for you to get out of those taxes is to pay yourself first using a pre-tax retirement account. Normally the government gets paid first. Corporate America has figured out how to get you to automatically pay them first. What do you need? You need a phone and a pen. That is called income shrinkage. If they lose a third of that to taxes.
The government figured out how to get you to automatically pay them first. In most cases your plan at work is free Five: You get free money—both in the form of saved taxes and in the form of matched contributions Six: You can put thousands of dollars into the account. You can arrange to have the money automatically taken out of your paycheck and automatically put in your retirement account.
So you put in a dollar. So you paid a dollar. You put in a dollar. You put it in your retirement account. So once you make a decision. If all you did was put half of your money into bonds and half of it into an index fund. Most plans today allow you to borrow out of your plan. Most companies today will allow you to change how much you contribute to your plan every 90 days. You can put your money in a money market account.
So they basically gave you a quarter. Imagine that you had a dollar. The Investments Are Not Doing Well First of all if the stock market goes down the chances are that your money that you put inside your plan is going to go down if you invest in the stock market.
How much would you have at the end of 30 years? This is not true either. It puts your money inside that holding tank. You never added another dollar to the plan.
Scenario One: So if you invest it in certificates of deposit and the bank gives you a fixed rate. Here is an example. A lot of people think when they have an IRA account that they actually own an investment. An IRA account is not an investment.
An IRA account is a holding tank. That is a huge difference. What we hope is over time with a good stock market mutual fund. So I might as well just pay the tax up front and get it over with. Now you have to invest it in something.
What you invest it in determines how fast it grows. Scenario Two: The principle is amazingly simple. The younger you are.
The investment pyramid is a model that you can use based on your age that tells you where to invest your money. This is a very simple system that you can use. Go visit PayTrust. I will go to a bank. Now there are three major companies today that do what is called online bill pay. Make sure that you are signed up for your plan at work if your employer offers one. Online Bill Pay Companies www. Money Market Accounts Money Market accounts are liquid investments. How much you have in this emergency basket is up to you and your comfort level.
What would you do if you lost your job. Youre locking in your rate. And its affordable because youre paying it over 30 years. The downside, however, is that with a year mortgage youre paying for it over 30 years. So its actually very expensive in the long term. The payments are higher because obviously youre paying your home off in 15 years.
These mortgages lock a rate for a specific period of time. So you may do a 5- year ARM. Your rate, which is a lower rate than a or a year mortgage, is locked in and youll get that rate for 5 years.
At the end of 5 years the rate adjusts based on interest rates. They adjust to the London Index of Bonds. These mortgages have the lowest possible rate. As rates move up, though, those interest rates adjust monthly. This means your mortgage payment could change every month as well. Again, lets go back to the American Dream. When you dont have debt and overhead, you dont have to work and make money! You know, you need money for food but you dont need money for the bank. The faster youre debt free, the faster you get your time back.
Here is a very simple example. Youd take a year mortgage and youd pay it off, depending on the interest rate, in less than 22 years! Its a forced way to save additional dollars. It makes your cash flow easier because youre now paying for your mortgage when you get paid.
Its automated no late mortgage payments It cuts years off your mortgage. There are a couple of ways to do this. One, you can go back to the bank who has your mortgage and you can ask them if they have a bi-weekly mortgage plan? In other words, can you take the mortgage that youve currently got, your year mortgage and can you pay them every two weeks? The answer probably is yes. There will be a cost to do it, however. Youve got to ask them what the cost is.
The Automatic Millionaire
Most banks today are outsourcing this process. There is a company called Paymap. You can go to www. They have created what is called Equity Accelerator.
Its called an Equity Accelerator because its helping you pay off your home early and build equity in your home. They are the company that is handling this process for most mortgage companies today.
In fact, you may find that your mortgage company actually refers you to Paymap to do this. When you call Paymap, tell them David Bach recommended you. Two: Go to eloan. Theyve got a great website, great calculators, youll find the mortgage calculator for Bank Rate on their website.
Three: Go to PayMap If you own a home, go to www. Four: Make a Commitment If you dont own a home, decide today, when are you going to buy your first home? Now this is going to be a unique session because for some of you, as you listen to this program I know youre in credit card debt. How do I know that? How much money should you pay yourself first if youve got credit card debt?
Whatever amount of money you decide that youre going to save to pay yourself first, if you have credit card debt, whatever that percentage is, half of it, should go into your retirement account for the future. Thats paying for the future. The other half should go into paying for your past, thats your debt. To make it simpler, lets use dollar amounts.
Now earlier we talked about your security account.
A Powerful One-Step Plan to Live and Finish Rich
What a real man. This is going to be required high school reading for graduation from our homeschool. I truly wish I had understood all of this as a college student. Thankfully, Phil DID understand it as a college student and he's quietly tried to do what he could without me being "on board. This one, as far as I can remember, has the same type of information - good basics if you are not saving at all now or are in debt, but nothing much beyond that. It was also written before the housing market crash, so I rolled my eyes a lot hearing about how you have to buy a house now or you'll never be rich, foreclosure is so rare, it's so easy to buy a house, check out Fannie Mae and Freddie Mac I li I read one of David Bach's books back when I was starting my first job and it was helpful.Get a month of expenses put aside.
Your Family Will or Trust. The question to always ask a charity before you give money to them is. Review Automatic Millionaire, like other personal finance books, do not apply much to the way I want to live and lead my life.
Whatever works for you, youve got to make it easy to not use them.