This week, Money360 takes a look at David Bach’s The Automatic Millionaire. I enjoyed Bach’s earlier book, Smart Couples Finish Rich, but will I like this one, too? Let’s find out.
I’ll be honest: if I had read The Automatic Millionaire before I read Smart Couples Finish Rich, my enjoyment of The Automatic Millionaire would have been much higher. Why? The Automatic Millionaire is nothing more than a flimsy rewrite of the first one.
There is very little content in The Automatic Millionaire that isn’t in Smart Couples Finish Rich. The latter book is simply a better book: there’s much more content in terms of getting your finances straight, and almost all of the concepts that I’ve talked about this week are in it.
In short, don’t buy The Automatic Millionaire; if you’re considering buying it, get Smart Couples Finish Rich instead (I’ve heard similarly good things about Smart Women Finish Rich, though I have yet to read it). The only reason I can see to buy The Automatic Millionaire is if you want a very simple and quick read, because anyone could finish this book in a couple of hours. However, in going for brevity, you’re missing out on a lot of good information.
To be sure, I’m not condemning the book’s content at all, merely expressing disappointment that it’s so derivative. Bach’s earlier book was substantially better in every way; this one is sorely lacking compared to it, containing just a subset of the material with very little new thinking.
The Automatic Millionaire is the thirteenth of fifty-two books in Money360’s series 52 Personal Finance Books in 52 Weeks.