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Why This Book Matters:
The Automatic Millionaire teaches readers the steps they need to take to ensure their future wealth.
The Big Takeaways:
- Becoming rich isn’t about making a lot of money at once.
- If Wealth is built on what is saved, not what is earned.
- Line your pockets first.
- Even before the “necessities,” cut your check first by investing in a pre-tax retirement account.
- An automatic millionaire is built from an automatic deposit into your savings.
- Don’t give yourself a choice to spend or save. Make a dedication to your savings account.
- Build a rainy day fund.
- Any automatic millionaire has a little extra stored away just in case.
- Aim to own.
- Renting is not an investment; it is an expense.