How to Become an Automatic Millionaire

There’s a book called The Automatic Millionaire. It sounds like a clickbait/gimmicky title but there’s actually quite a lot of good info in there. What this post will do is combine some things I learned from that book as well as other things I’ve researched. If you do everything in this post, you’ll be on your way to becoming an automatic millionaire.

 

Becoming an automatic millionaire really has nothing to do with becoming an overnight success. Rather, it’s about automating your life so you become a millionaire someday. It’s a wise way of thinking. Consider it for a second. Warren Buffett, for instance is one of the richest people on the planet. What does he do? He gets other people to do work for him. He’s an investor. It’s this mindset that people need to become wealthy. The money needs to flow in automatically, it’s much easier to get rich. Active income rarely makes anyone rich.

 

What You Must Automate in Order to Becoming a Millionaire Quickly

 

Becoming an automatic millionaire is also about automating everything else. Automatic your bills. Automate where your income goes. Then you can focus on what matters.

 

5843095046_e1e23924dd_b

 

What matters? The things that matter are things that are pushing the boundaries. Everything else is just menial labor. Mailing bills is menial labor. Writing checks is menial labor. What you want to focus on is increasing your net worth. Working on business ideas. Asking for raises. Finding ways to bring in extra income.

 

There’s another book that’s closely related to The Automatic Millionaire. It’s called The 4-Hour Work Week. In this book, the author basically says to outsource anything that isn’t going to make you rich or happy. In fact, he even recommends getting a virtual assistant before you even need one. Ask him/her to do extra things in your life until you need them for big projects. Ask them to order your wife flowers, for instance. Or to find your child the perfect gift.

 

You may think that you can do everything best. There’s an unhelpful saying out there, “If you want something done right, you’ve got to do it yourself.” Instead, get humble. Realize that some people actually do things better than you do. Appreciate it. And let those people do those things.

 

The Rich Pay Themselves First

 

Becoming an automatic millionaire is also about paying yourself first. I remember hearing this for a long time without realizing what it meant. It means that you literally pay yourself before anyone else. Yes, even pay yourself before you pay your bills. This way, you will always be protected. It’s how corporations work after all. Thus, you should work like a corporation.

 

A corporation makes money, spends it and pays taxes on whatever’s left. An employee does things differently unfortunately. They make money, pay taxes and then spend whatever is left. It results in much less money.

 

What’s Your First Task to Automate? When You Do Believe You’ll Become a Millionaire?

 

So what can you automate beginning today? Is there a piece of software you can buy such as a budgeting software? An app, perhaps? What can you hire done?

 

This post isn’t appealing I’m sure if you’re cheap. Of course it’s cheaper not to spend anything and do everything yourself. But if you’re more focused on net worth, this strategy is for you. Who cares what you spend? If your net worth is growing, you’re doing it right.

Join our newsletter

If you like Critical Financial, subscribe and get our latest content via email.

Powered by ConvertKit

Share this post:

Recent Posts

Leave a Comment

*

People count the money to buy a house in future success.

Avoiding Mortgage Scams: Don’t Fall for Unreasonable Promises

If it sounds too good to be true, it probably is. That’s sound advice for almost all aspects of life, including the search for... more →
Eat for free for a whole month via the meal kit companies discounts for new customers.

How To Get a Month of Free Food: 9 Meal Kit Companies Offering Discounts to New Customers

Play your cards right and you might be able to line up a month’s worth of free meals if you were to try out all nine of the meal... more →
Generate extra cashflow -- here are 97 ways.

96 Awesome Ways to Generate Extra Cashflow

Who doesn’t want more money nowadays? We’ve got you covered on that front. Here comes a long list of different ideas on... more →
Valentine's Day gifts that won't destroy your budget

Valentine’s Day Crafts Are Romantic Rescue from Crazy Inflation

Fall for the hype this week and you’re out an average of $143.56 for Valentine’s Day. Crafts and other do-it-yourself tactics... more →

Ultimate Guide to Bitcoin — FREE Ebook!

Have we got something for you: a free ebook about bitcoin! more →
Get a flu vaccine.

Why You Need To Get a Flu Vaccine Right Now

Flu vaccines aren’t just for the elderly  anymore. Here are 25 reasons you should go get vaccinated. more →
Financially successful

Acquire the Trait All Financially Successful People Have

Financially successful people tend to all have a lot of self-discipline. Improving your discipline in one area of your life often spills... more →

What’s the Best Free Recipe App?

The Apple Store and Google Play together offer more digital cookbooks than you probably have room for on your mobile device. So which... more →
New tax law might slow down housing market.

What Will the New Tax Law Do to the Housing Market?

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest... more →

4 in 5 Households Will Get a Tax Cut in 2018

Four out of five U.S. households will get a tax cut as a result of the legislation that President Donald Trump signed into law today. more →
Will bitcoin reach $100,000?

When Will Bitcoin Reach $100,000?

Bitcoin has accelerated its pace of appreciation in recent months, and if the current levels between $15,000 and $19,000 make you itch... more →
The Dow Jones topped 24,000 -- now what?

The Dow Jones Crossed the 24,000 Threshold. Now What?

Stocks appear to be increasing in volatility, yet the markets closed on Monday, December 4 with the Dow Jones Industrial Average is... more →
Peer mortgage

Should You Get a Peer-to-Peer Mortgage?

If you can’t get approved for a home loan from a bank, you might want to look into applying for a peer-to-peer mortgage. more →
Investment gifting is awesome.

4 Things To Know Before You Donate an Investment

While donations of any kind are appreciated, gifting investments benefits both the giver and the receiver. Here are four key things... more →
Are you wondering: What's the Relationship Between the Stock Market and Federal Debt?

What’s the Relationship Between the Stock Market and Federal Debt?

Wouldn’t it be wonderful if gains in the stock market could actually reduce U.S. government indebtedness? If that were true,... more →
used car purchasing tips, avoiding a lemon car, buying secondhand car tips

Surest Signs That a Used Car Is a Lemon

Buying a used car means you can save an incredible amount of money over buying new. So if you’re looking for the best value when... more →