Automatic millionaire - views please?

sammy115

Dee2 wrote:

Has anyone else put it into practice and how are you doing with it?

I have thought enough about it to ask my employer if they can deduct money and put it into my personal pension, rather than the one they run. I didn't want another small one. This one I have had for years, but stopped paying into it for some reason, possibly because I was an idiot and thought I would pay my debts off. Trouble is I am still in debt and have not paid anything into my pension.

I am the kind of person referred to in the book. I spend what I have and will find money to pay debts but not to save. I am going to start putting money into a savings account this month and start paying my pension next month. I have an extortionate IO mortgage due to previous difficulties and the penalties with moving this mortgage end in Feb 2008. Hopefully by this time, I will have paid most (if not all - with a bit of effort) my debts off and then I will remortgage onto a repayment mortgage and then pay off more each month than asked for.

I HAVE A PLAN!