It is a book by David Bach where he outlines a the very obvious and simple step-by-step plan for achieving financial security and ultimately becoming a millionaire by default.

Few key points which are covered in this book include:

The concept of the Latte Factor, refers to the small, daily expenses that can add up over time. By cutting back on these discretionary expenses and redirecting the saved money towards savings and investments, individuals can make significant progress towards their financial goals.

Bach explains the power of compound interest and how it can work in your favor over the long term. By starting to save and invest early, individuals can take advantage of compounding to grow their wealth exponentially.

The book emphasizes automating finances to ensure consistent saving and investing. Bach provides practical advice on setting up automatic deductions from your paycheck or bank account and channeling them into savings and retirement accounts.

Bach explores the benefits of home-ownership and real estate as a means to build wealth. He explains how buying a home and making regular mortgage payments can be a form of forced savings, leading to increased equity over time.

The book also covers strategies for reducing debt, such as paying off credit cards and creating a debt reduction plan. By eliminating high-interest debt, individuals can free up more funds for saving and investing.

Overall, The Automatic Millionaire provides readers with practical advice and actionable steps to take control of their finances and work towards achieving long-term financial security.

It encourages individuals to make small changes and automate their financial habits to gradually build wealth over time.