David Bach is well known for his books, Smart Women Finish Rich and Smart Couples Finish Rich
and in this latest effort, he goes into more detail on the techniques he discussed in these books. While the title would make you think it’s yet another get rich quick scheme, it is precisely the opposite. In a way, although the title is controversial, it may have worked against him in some ways, especially if the reader was expecting an easy way to accumulate wealth.
That’s not to say that the techniques mentioned here are difficult, but rather that they will take time to implement and longer to see results. There is absolutely nothing wrong with that, but the title is a bit misleading in many ways. The basic premise of the author is that you need to pay yourself first – before you do anything else – even taxes. By setting aside 10 to 15% of your entire income, you can actually end up saving more than enough to make sure that you will be comfortable in your retirement years.
This certainly is not a ground breaking book, and experts in the personal finance field probably won’t get much out of it. There is nothing really new, but the author does a great job of spinning the information in a new way that may just motivate people who want to balance their finances, but haven’t taken that step towards achieving their goals yet. There is a lot of powerful information contained in these pages for those that are not well versed in money management, but at the end of the day, much like many things in life, it won’t do you much good if you don’t put it to use.
We recommend this book to those that need to find that motivation to start saving money and getting ahead. While some of the principles are a little staid and this certainly won’t do much to grow your income right now, there are still some great nuggets of advice that everyone can use. We particularly liked the idea of the Automatic Millionaire Promise and this may be just the impetus that many people need to start making a financial plan and sticking to it.
Although the techniques promoted in this book are less than flashy, the truth is, they do work and have worked for hundreds of years. Those that pay themselves first will always have money – it’s just that simple. Buy a copy if you’re looking for that boot to the rear that will get you motivated, or get it as a gift for someone that needs a little help getting pointed in the right direction. Once again, it’s not a book for pros, but it could do a lot of good for someone that is just starting out. It is a great gift idea that will certainly keep on giving to your recipients.
Originally posted 2008-11-14 05:19:01. Republished by Blog Post Promoter
Related Posts -
Keeping Track of Cash Flow - Your Household is Your Business You should create a budget to track your spending and get a handle on your finances. You plan out all of your bills, and the amounts look good. The budget is the first step in getting your finances under control. However, the budget is not the only step. There is...... -
How to Work Less and Make More Money With Multiple Streams of Income Most of us would like the chance to spend more time with our families, work a lot less and still bring in a sizeable income. If you’re only going to rely on your current income, the chances of that happening are pretty small, unless you’ve got an incredible job. However,...... -
Tips and Tricks for Budgeting Many people think that the budgeting process has to be complicated in order for it to be effective but the truth is actually quite the contrary. Once you know what the basics are when it comes to starting a budget and managing your budget, there is nothing that has to...... -
How to Ruin Your Financial Life By Ben Stein Ben Stein is a well known personality that many consider to be a genius. His book, How to Ruin Your Financial Life is incredibly concise, coming in at under 130 pages, and most of it reads, as the title would suggest, as a guide to how to end up in...... -
Review of Missed Fortune 101 There has been a lot of hype surrounding Douglas Andrew’s book, Missed Fortune 101. Many people gushed that it unlocked the secrets to becoming a millionaire, so I went into the book with high hopes. I was pretty disappointed to discover that much of the advice is already well known......
Related Websites -
Book Review: Outdoor Survival By Garth Hattingh The author of this book is one of the most respected outdoor enthusiasts, experts and authors and this latest effort is truly spectacular. If you are planning on doing anything outdoors, whether it's boating, fishing, camping or hiking, this is the book that you need to read before you go...... -
Oblivious Investing – Building Wealth by Ignoring the Noise Book Review I had the opportunity to review Mike Piper’s newest book, “Oblivious Investing: Building Wealth by Ignoring the Noise.*” Mike is the author of a great blog of the same name, Oblivious Investing. The book follows conversations between Shannon, the investing newbie and her wise Uncle Toby. Every conversation they have...... -
BOOK REVIEW and GIVEAWAY: High School Money Book by Don Silver The title of this book tells me it's geared towards High School students, but even though I'm technically an adult (and way beyond my high school years), when I was reading my copy, I couldn't seem to put it down. The sentences are short and written in language that's...... -
Book Review: The Best Tennis of Your Life: 50 Mental Strategies for Fearless Performance by Jeff Greenwald When it comes to the mental game of tennis, this is an area that every single player must master, and there is always room for improvement. This book offers an in depth look at numerous mental strategies that any player can put into practice in order to learn to play...... -
Book Review: Insulate and Weatherize - Expert Advice from Start to Finish By Bruce Harley As energy costs continue to rise, many homeowners are starting to get serious about how much money they are wasting on home heating costs. In reality, if your home is poorly insulated, and you have not taken the steps to weatherize it properly, the fact is, your money is going......
- Gift Sets Barbie Dolls Barbie Contemporary 1973-Now Dolls Dolls Bears
- Richie Rich Cartoon Character Bronze Age 1970-79 Comics Collectibles
- Energy Saving Light Bulbs Home Lighting
Categories:
Book Review
Tags:


0 comments ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment