The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich

This book presents a system for building wealth automatically, without the need for budgets or strict discipline. The key principle is "paying yourself first," which involves automatically directing a percentage of your income into savings and investments.

The author emphasises the importance of pre-tax retirement accounts like 401(k)s and IRAs, highlighting the benefits of tax deferral and compound interest. He also encourages readers to establish an "emergency basket" of savings to cover unexpected expenses.

The book advocates for homeownership as a wealth-building strategy, outlining the advantages and providing resources for finding financing options. It also offers practical advice on managing debt, recommending steps like negotiating lower interest rates and consolidating credit card balances.

Finally, the author promotes "automatic tithing," encouraging readers to make regular charitable contributions to causes they believe in.

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