Wednesday, September 30, 2009

David Bach Automatic Millionaire

We have all heard from the various wealth experts be they Robert Kiyosaki or Suze Orman or Donald Trump. Today, I will introduce David Bach.

Intro to David Bach

David Bach is the author of books like the Automatic Millionaire Homeowner, Smart Couples Finish Rich and Start Over, Finish Rich. Just by reading the first chapter of Automatic Millionaire Homeowner alone, I had already gained insights into how home ownership can actually slowly make one a millionaire over the years.

The thing about the way David Bach writes is that he uses real life examples in his books so that all can follow and relate to these cases. It shows that nothing is impossible and getting ourselves out of debt and onto an abudant life is really easy. Of course, one will still need to gain the necessary knowledge when it comes to various things like mortgage loans, retirement plans, buying real estate, managing your debt, etc.

Grow Rich

The true life examples or success stories remind me that wealth is possible as long as you believe that it is achievable. Important concepts like paying yourself first are also once again highlighted. I guess it is by studying all these concepts from all these wealth gurus can we then see where the commonality lies and what are some of the principles they have applied in their lives that have helped them to achieve financial freedom.

Buy A Home For Financial Freedom

One of the things that struck me was the concept that buying a home instead of renting one makes much more financial sense in the long run. Just imagine: a person who rents out a home will definitely be renting it out at a rate that is much higher than his monthly mortgage payments so as to make a profit. Thus, it makes sense to buy a home once you are able to afford it.

The author thinks that people should read David Bach's books or at least visit his website. His ideas are not new per se but serves as a timely reminder for us on our road to financial freedom.


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Income Investing - Rental Property

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