January 17 2005
David, I was really looking forward to The Automatic Millionaire. I ordered it on the day it was available and have already re-instated my "automated" childrens education IRA's, extra principal payments on my mortgage, and I'm in the process of increasing my company IRA contributions.
I was doing these things in the past, but put a temporary hold on them. Your book prompted me to get going on starting them back up NOW and also to increase my contributions. I have noticed a HUGE difference in what I spend on a daily basis (I have significantly reduced my latte factors because I think about that $3.50 per I.C. Mocha or $4 movie rental and late fee). I don't cut them out altogether (that wouldn't be fun), I simply make them worthwile REWARDS, rather than casual purchases. The difference and effect on spending behavior is profound. I am SO EXCITED about sharing the power of compound interest to all those I care about. I especially get inspired thinking about the power this information can have for our youth. I have two cousins, ages 14 and 19, who are now aware of the "secrets" that were never spelled out to me in this way. It really is simple when you watch your "latte factor" and automate your contributions!
Thanks David-you are truly making a difference, and I am carrying the torch to those I can help as well.
- Brian Nottingham