The Automatic Millionaire // 10 Invaluable Lessons

Timecodes:

0:00 - Intro
0:38 - What Matters Is How Much You Spend, Not How Much You Earn
1:50 - Very Few People Are Born To Budget
2:51 - Try Shortform
3:51 - Track Your Spending
5:13 - Find Your Latte Factor
6:25 - You Don’t Need Discipline To Become A Millionaire
7:40 - Pay Yourself First
8:58 - FREE 1-Page PDF
9:12 - You Can Still Get Rich By Being An Employee
9:58 - Pre-Tax Retirement Plans Are Where Wealth Starts
11:17 - Emergency Fund = Good Night Sleep
12:12 - Strive For A Debt Free Lifestyle

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[Mário-lv]

This video was really nice and clear.
Keep up the good work 💪

[russschuett]

Read this book when it first came out. Been following the automatic suggestions since. Totally changed my life. I will buy David a thank you Latte if I ever meet him in person.

[Susanhartman.]

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

[grod]

This has been my most life changing book. I got stuck for years trying to budget and always failings. Automatic saving and investment just clicked for me. Now I can enjoy my life without having to worry about whether or not i can afford it

[rlauck]

I also read this book about 18 years ago. I'm literally in the middle of reading the 2016 updated edition now, just to see what new material might be there. It's a great book when you're starting your journey of improving your finances.

[michaellawrence]

This book changed my mindset 7 years ago

[xx-qlkv]

this was the first book I read on personal finance. I remember the latte factor and it changed my whole outlook on finances. Little things we don't think about and spend on every day sure do add up. And I remember the story on the McIntyre's. It was the classic "millionaire next door" type. Automate.. automate.. automate.. your savings/investing; it couldn't be more true!

[brucestiles]

Finally! Someone else who says that an emergency fund should be for a year. Monthly take-home pay, minus amount transferred to savings and/or investments (although you might be able to get it all out form your gross pay), times 12. I used to think 6 months was enough, but then the pandemic came along and I saw how back things could really get.

[jackterranova]

If I had hair like Tae, I wouldn't need money.

[PremSteve-ygde]

The most popular investment portfolio strategies include diversification, where you spread investments across different asset classes to manage risk. Another is the growth strategy, focused on capital appreciation through high-risk, high-reward assets. Income-oriented strategies target regular income from dividend stocks or bonds. Finally, there's the value strategy, seeking undervalued assets for potential long-term gains.

[Golfplyr]

Great video! Automatic millionaire is a good book but I too really like budgeting. Daily investments in my Robinhood is my latte factory which I will keep on doing.

[tomscott]

loved this video. Look forward to each one. Thanks

[VirginiaHapa]

I hate budgeting and I am a data scientist 😂 automation is what has helped me get to a 20-25% gross income savings rate. It makes life so much more enjoyable for me.

[lilibethvilella]

This was so real so eye opening thank you ❤

[Sketches]

Heyyyy I read this book 10 years ago too!! And after I read it I did what he said but not to the extent that I would have liked, but the things I did, I now thank myself for

[TaggeGust]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.

[mihaylo_kovin]

Classic, but a reminder of something important learned long ago is still valuable) Thanks

[whodefan]

The US Government should listen to this.

[hello_world_]

Writing down every single thing you spend is a must. You need to know how much you need per month first in order to set your emergency fund for 6 months for example.

[lovealwaysjasmine]

Do you have any videos going over TSP? How to invest in your TSP?