Short promotional video in which David Bach, author of The Automatic Millionaire, previews the updated edition of his book and gives three core tips: pay yourself first (automate savings), own real estate (start with homeownership and invest), and aggressively reduce debt. He emphasizes new financial technologies that make automation easy and cites U.S. wealth statistics to motivate viewers.
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Foreign. It's David Bach. You may know me. Hopefully for my books, I've written nine New York Times bestselling books, all on personal finance. And when John asked me to come and do this video for you, I thought definitely, because here's what's going on. I'm about to put out my brand new book, the updated version of the Automatic Millionaire. And I'm going to come on the brain a thon and do a preview of what's going to be in this book when it comes out in January. So the automatic millionaires help millions of people. Hopefully it's had a chance to help you. I launched this book on Oprah. The whole secret of becoming an automatic millionaire is this. It's not what you make, it's what you keep. You can actually become very wealthy on ordinary income. Couple quick tips I'll give you right now, until I see you. And why I'm so excited to share the new technologies is that today's new technologies in the financial service industry have made it even easier. You can literally automate your financial life now in many cases in a matter of minutes. So, so three quick tips for you. What do automatic millionaires do that most Americans don't? When I say most Americans, there was a new study that came out recently. 47% of Americans, according to the Federal Reserve, cannot get their hands on $400 in case of emergency. That's terrible. The opposite of that is that we now have over 10 million people in this country who are millionaires with over a million dollars in assets excluding their. We actually have well over 10 million millionaires in this country. The number's doubled since I wrote the Automatic millionaire book. So three quick tips for you. Ready? Take out a pen and paper. I want you to write this down. Tip number one, what do automatic millionaires know that ordinary people who are not on track to be wealthy, what do they not know? Here's what you need to know. Number one, it all comes down to how many hours a day of your income do you keep. Now, I call this the pay yourself first advantage. Automatic millionaires live and breathe with the concept that they're going to pay themselves first. And it's a mindset where you really get serious, get a little angry, get aggressive and say, you know what? I'm going to always choose to put myself first. I'm going to pay myself first. Now, how you pay yourself first is the key. And how much you pay yourself first, where you put that money, that's the critical component. So I'm going to go through that in detail in the Brain A thon the second critical element of self made automatic millionaires is they own real estate starting with their home they're not a renter, they're a homeowner and from their first home they then become investors through real estate also so they pay themselves first they own real estate and the third thing is they crush their debt down earth again I'll go back to my days at Morgan Stanley when clients came into my office and they were able to retire early when I mean early I'm talking before the age of 60 people who came into my office and retired in their 50s the reason they could do it is they paid their debt down quicker than the financial services industry quite frankly the banking industry wants you to so I'm going to cover all of the intricacies on how you do all of this yourself and I'll share a couple additional bonuses with you But John said don't go over five minutes so I won't right now David Bock about to sign out again super excited to be on the Brain A thon I'm gonna give you all the secrets from the automatic millionaire book the update tell you the latest techniques and strategies you can use now this moment what you need to know today. Alright, I'll see you on the other side have a great day.
