David Bach’s very insightful book. I got the audio version at the library. The Automatic Millionaire introduces the idea of paying yourself first and doing so automatically. It’s absolutely right about several things: to keep something going it must be automatic, it’s absolutely worth paying yourself first (before taxes), and people would be amazed by their latte factor. I actually find that I waste most of my money on fringe buys, but nonetheless, every part of this book, especially about interest is well worth considering. Don’t let money waste away in a bank account. I don’t know if the investment vehicles are the most powerful, this book isn’t like Rich Dad, Poor Dad in its pace, but it makes a powerful point about investing and retiring and offers very very many useful ideas about money.
Category Archives: Books
Books
The Warren Buffett Way
Got Robert G. Hagstrom’s “The Warren Buffett Way” on CD’s at the library. It talks about focus investing and has great references to other books and theories. I found it really inspirational. Most of the chapters cover specific aspects of his strategies through focusing on the companies he bought. There are many insights that are worth keeping in mind and writing down. One of the most interesting facts was that most short term traders earned substantially less than the market itself. Long term and focused is the way to go.
ABC’s of Real Estate Investing
I’m reading ABC’s of Real Estate Investing by Ken McElroy. I love the goal setting chapter, love the book. I wonder if I’ll ever put up a book here that I don’t love. A metric is in order (1-5? thumbs?). After reading the first chapter, I contacted half a dozen people for rec letters and finally took the first steps to getting away from computer programming and had my first interview for a job where I’ll be learning skills I actually want and plan to use and will be giving more than I take! So far this book has the highest rating possible. Period. Tied with Rich Dad, Poor Dad itself….
Update: Read the whole book. It’s amazing and goes through all the parts of the process. It’s super motivational and super educational. It’s a must read.