David Bach The Automatic Millionaire

What if I told you that I could share a system with you that would slowly but surely transform you into a millionaire? What if I told you it was a proven system you could set up in just an hour or two that would require no discipline, less than $10 a day of investment, and could be done over the phone, from the comfort of your home?

Now that I have your attention -- welcome! Every other Tuesday, I'll share with you common-sense financial advice based on my bestselling book "The Automatic Millionaire." If you miss a Tuesday, don't worry, the columns will be archived so you can pull them up as needed.

Who Stole the American Dream?

Somewhere, somehow, over the last few years, something happened to the American Dream of owning a home in a nice neighborhood, driving a nice car, providing your children (if you have any) with a life better than you had, and retiring with a healthy nest egg. What happened is that this dream disappeared for many Americans.

As a result of the shrinking stock market, many Americans have seen their personal wealth evaporate. Between Wall Street's March 2000 peak and the summer of 2002, U.S. stock market losses totaled a whopping $6.9 trillion. Millions of people were forced out of retirement and back into the work force. Millions more who had plans to retire in the next five to 10 years are wondering, "What just happened? Will I ever retire? Where's my piece of the dream?"

For most Americans, the old approach to investing for the future is not working. According to the American Savings Education Council, nearly half of all American workers have less than $25,000 in savings -- and nearly 60 million Americans (that's one in five) have nothing in the bank. That's right: Zero, zilch, nada. At the same time, statistics tell us that the average American currently owes more than $8,400 in credit card debt.

Even the supposedly wealthy baby boom generation is on shaky financial ground. According to a study by AARP, the "typical boomer" has only $1,000 worth of financial assets.

The point of these facts and figures is not to depress you. It's to reassure you that if you're not yet as rich as you want or need to be, you've got lots of company.

There is a secret to getting rich in America. It's very simple. In fact, it's so simple that almost no one does it. It's so obvious that chances are you already know most of it. But that doesn't mean there's nothing more for you to learn. Why? Because chances are you're not doing many of the things you know you should be!

I'll share tips with you and help you to put them into practice.

But let me set the record straight: I'm not talking about helping you become a millionaire in a few weeks or even a few years. I plan to show you how to become a millionaire steadily and surely, over the course of your working life.

Simplifying the Complex World of Money

There's so much written on personal finance these days, some of it is confusing and some of it is downright boring! I vow not to put you to sleep as I teach you how to become an Automatic Millionaire.

The philosophy is simple and straightforward:

• You don't have to make a lot of money to be rich.

• You don't need discipline.

• You don't need to be "your own boss." (Yes, you can still get rich being an employee.)

• By using what I call the "Latte Factor," you can build a fortune on a few dollars a day.

• The rich get rich (and stay that way) because they pay themselves first.

• Homeowners get rich; renters get poor.

• Above all, you need an "automatic system" so you can't fail.

Make Your Financial Plan Automatic

What it boils down to is this: If your financial plan is not automatic, you will fail. An investment plan that requires you to be disciplined and stick to a budget and write checks manually every few weeks will not work. You have a busy life. Making your financial plan automatic is the one step that virtually guarantees you won't fail.

What do I mean by an automatic plan? I mean a plan that, once you've set it up, allows you to go about your life and not spend a lot of time thinking -- or, worse, worrying -- about your money.

I know, right now this sounds too simple. But, you'll learn more about the Latte Factor, (a metaphor for how we dribble away what should be our fortunes on small things without really giving it much thought), the importance of paying yourself first, saving for a rainy day, and more.

You'll also learn about a new principle I teach called the "Automatic Millionaire Mindset" and it will change how you think about money forever. I will also share in upcoming months "The Automatic Millionaire Homeowner," based on my forthcoming book. It's a radically simple approach that uses your home to build wealth over your lifetime. And lastly, I'll share with you how to live rich -- because you deserve a life in line with your values, in which your dreams and what matters most to you come true.