I've just finished The Automatic Millionaire Homeowner by David Bach. I'd seen his books on the shelves but am always a bit leery of the "get rich" books. I liked this one though. It doesn't say "Make a million in a year doing nothing" or "buy and flip real estate" or "sell stuff to your friends via MLM." It says that over the years, home ownership is one of the best ways to increase your net worth. And he gives you some good ideas on how to get there, why it's worthwhile, and ideas on how to go beyond owning your initial starter home to owning either multiple homes or a bigger, better home, whichever most suits your needs.
The basic premise is to set things up automatically, along with the old "pay yourself first" rule. And yes, that usually means giving up something today to get something better tomorrow. Over the long-haul, real estate is one of the best investments you can make.
I really liked it that his final chapter was on "Make a Difference - Help Someone Else" and lists some national charities, like Habitat for Humanity, that help others become home owners. I have my own personal local favorite to help out, Operation Dignity, a veteran-run veteran-focused homeless shelter. But even if you don't have everything you want now, you have way more than some. Giving even just a little helps you feel rich, which changes your attitude in a very positive way.
Friday, June 09, 2006
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