The Automatic Millionaire
If you are interested or work in financial planning, this is the book for you! The Automatic Millionaire reinforces the notion that diverse portfolios, retirement planning and tithing will help you to achieve your financial goals. But it’s not just for people who are actively interested in these topics: I think that the book is a useful tool for anyone who may not be quite convinced by the importance of retirement planning, as the colloquial, easy tone speaks clearly to a wide audience.
If you work in the financial service sector, here a few ideas generated from this book:
- The main thing that really stood out for me in this book is the importance of starting young. Some of the UK’s largest financial institutions, most notably Barclays Bank, are actively educating school children about money management. Whilst I’m not necessarily suggesting going into primary schools, I think hosting events for people in their late teens (maybe 17+) could work. You would almost be lining up clients for 5 years down the line. This would also be a great PR opportunity and a great service for the community.
- There was a contagious excitement about retirement that pervaded this book. The same energy would be great if it was put into plans and articles about the subject. This could be achieved through language, testimonials and success stories.
- Finally, a slight criticism of the book; the early chapters contained quite a few ‘sales’ pitches and adverts in highlighted boxes. I found this lessened what Bach was saying and it became a little irritating. I think that in any marketing material you produce, you need to make sure that the ‘sales pitch’ is not so obvious. I also don’t think that any self promotion should not be at the beginning of any material you send out – you need to build the audience’s trust first.