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David Bach’s The Automatic Millionaire shows how anyone can build wealth automatically without budgets, discipline or big incomes. Here are 7 lessons from the book.
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"The key to financial security is paying yourself first. Automatically. Before you do anything else." This is the foundation of every sustainable wealth plan.
"Small amounts of money spent daily can add up to a fortune.” Find where money leaks like coffee, snacks, subscriptions and redirect it to wealth.
"The single biggest investment mistake you can make is to not make your financial plan automatic." Set it, forget it and let it grow.
"The average homeowner is worth forty times more than the average renter." Owning a home acts like an automatic savings plan that builds wealth over time.
"The government actually encourages you to become rich by letting you use pretax dollars to build your wealth." Max out your pretax retirement accounts.
"Pretend Social Security doesn’t exist." Build your own retirement automatically. Start small, grow yearly and ensure your future without relying on the government.
"Being rich isn’t about money. It’s about living life on your terms." True wealth means freedom, time, security and the ability to enjoy and give back.
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