The Automatic Millionaire Book Summary | David Bach
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10 comments
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Thanks for the info. I appreciate your videos. I have a bunch saved in my watch later pile that I watch when I get time.
Great content like always! We love these books, and a way to get your money to work is to invest even when everyone is scared too! Let us know your thoughts on these Top Tech Stocks to invest into during this wild time! Let us know your thoughts!
https://youtu.be/CobK2X-6c8w
You don’t need a million dollars to live like a millionaire. Read the 4 hour work week.
“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” Robert Kiyosaki
Thank you for this great book summary!.👍
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Thanks bro your videos made me invest me in the stock and I started to invest my first 1000 dollars and it’s growing and by 23 dollars in a week it’s in a mutual fund thanks a lot bro
Idea number 5 was more likely that the bank owned the 2 homes, but they leveraged their first investment to buy the second home and made one of the assets work for them. By saying they own the homes, I think is less accurate and should be quickly elaborated on.
Ok but let’s say they did own 100% of the homes. Did they sell the stock that was making them 10% a year to buy the 2 homes? Or did they use their income?
”According to the Case-Shiller Housing Index, the average annualized rate of return for housing increased 3.7% between 1928 and 2013. Stocks returned 9.5% annualized during the same time.”
Source: https://www.investopedia.com/ask/answers/052015/which-has-performed-better-historically-stock-market-or-real-estate.asp
Was that the best use of their capital?
Would they of been better off not rushing to pay off the houses at age 50 and used that income on the general stock market for a larger return?
However renting that first house potentially now increased that historical average of return of what type of wealth it brought them. How much would renting add to the value of the home over time if priced competitively? I wonder what historical average as a working asset would it bring to this family or one in general?
Interesting stuff.
I will be a multimillionaire!