June 15, 2013 Admin | June 15, 2013 The Automatic Millionaire teaches us the “trick” to help you achieve wealth over time. What is it?
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In The Automatic Millionaire David Bach talks about one core principle that will make us wealthy. That is to pay yourself first. When you pay yourself first you will not be overcome by the urges to impulse buy and use the money irresponsibly. If you invest your money before you can spend it you will be able to become wealthy with smart investments of the money you payed yourself first with.
Nicely done, Thomas. David Bach reminded us (this has been known for ages) that wealth can be created by automatically (have money taken out immediately upon receiving it) saving/investing in yourself. Pay yourself first and spend what is left. It works. Start today by setting up an automatic payment that goes to your savings account, company retirement plan, Roth IRA, or maybe extra going to the mortgage. Automate and forget about it. It works!