When I was in 7th grade, I made a New Year's Resolution to read the Bible but failed to complete my goal. I made the same resolution two more times before I finished reading the entire Bible in the Today's English Version.
Since then I have read through the complete Living Bible (a paraphrase) and the Amplified Version. Sometimes reading a different translation allows me to see something I missed previously.
I have found the Online Parallel Bible to be an excellent tool for comparing a verse in different translations.
Here are several Bible reading plans:
Discipleship Journal recommends the 5 X 5 X 5 Plan. By reading five minutes a day five days each week someone can read the entire New Testament.
The Whole Bible In A Year involves reading three chapters a day six days a week and five chapters on Sundays.