Automatic Millionaire

[Hot dog]

I guess your right Steve so that is why my hubby took that from the book looking at how much coffee he buys. I already do all that now and hardly ever even have any cash on me because I don't want to spend on things that aren't necessities. I guess I just took from the book what I needed and others will take what they need. I know it is very basic and that is why I liked it I do hope to move on to other books I have seen on this site. Last week I read the Wealthy Barber also very basic but a little more info than Bachs I am just taking baby steps but am determined I will get there. Just thought it was a good starter book.

[collegeguy]

good book if you aren't in a ryhthm of paying yourself first. discusses and illustrates practical examples of if you do the little things right, you'll be in better financial position in 25+ years down the line.

bottom line - max your 401K, and then max your ROTH IRA and think about how much money you waste on coffee everyday. personally, my take is to be aware of the latte stuff, BUT if you're already setting and meeting your financial savings goals then you've got to have some $ in your budget for "Fun things," and if coffee is a fun thing then I see no problem with it....as long as you're paying yourself first.

I also think Bach does a good job getting 200 pages out of 50 pages of material. Its funny, my father-in-law bought me The Automatic Millionaire AND The Automatic Millionaire for Couples after my wife and I got engaged. Funny it itself, I know. But even better for Bach that he got two books (and more) out of pretty much the same material. He's a smart man...

Originally Posted by collegeguy

bottom line - max your 401K, and then max your ROTH IRA

seldom is that the proper order to do that



generally, max the match on your 401(k), max a Roth, then finish up the space on your 401(k)