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March 11 2005
David,
You are simply the best! I've read tons of financial books, but Start Late, Finish Rich really motivated me. Even though my husband and I are only 25 and 26, we felt like we were behind everyone else in the money game. You showed us that we are in the perfect position to finish rich! No credit card debt, automatic contributions to his 401(k), and living below our means are the key.
Here's a neglected Double Latte Factor for you- tuition! We moved to another state, which was going to increase my college tuition from nothing (due to a special aid program I qualified for due to my grades) to 16k. We're expecting our first child in August, too. Instead of seeing this situation as a burden, we are seizing the chance to turbocharge our Latte Factor!
I'm transferring to a college that offers online classes for only 6k. This will not only allow me to stay home with my baby, but to babysit for someone else, earning $400/month for our index fund!
We are already close to buying our first home, and are delighted about finishing rich! This Christmas, everyone we care about is getting your sound advice wrapped in a bow. What better gift is there than financial freedom?
Thanks a MILLION, literally!
- Amber Touch
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March 11 2005
David, I just wanted to let you know how I appreciate people like you! I think you are one of a kind. I attended one of the investor's workshops held in Palo Alto, CA. I knew from the info you shared that you were for real! After reading your book, that you so graciously gave to those in attendance, I'm own my way to a secure retirement. Thanks again!
- Vincent Burkes
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March 11 2005
I decided to max out my contributions to my 401k plan starting in January. I thought I would have to lower my contribution in a few weeks because I wouldn't be able to afford it but then it became a challenge to keep it going. Now we are in March and I am paying for my daughter's wedding and I am able to still keep the contributions going by cutting out the latte factor. I gave up buying pop from the vending machines and now make my own smoothies at home and bring them to work. It is cheaper and a lot healthier.
- Donna Branchaud
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March 11 2005
After reading The Automatic Millionaire, my husband and I now take advantage of my companies 403B. I put away 10% of my paycheck and am building very quickly. My son is 20 years old and currently serving in Iraq. He left me in charge of his finances. Because of this book, I started investing his money in a Roth IRA so when he gets out of the service, I can explain to him the importance of putting money away for his future. He will be so surprised that all his efforts overseas didn't go to waste financially and he'll be off to a good start. I sent him the book to read also because no one ever taught me as a young person how to manage my finances. Now I am also teaching my 17 year old son too. What a great gift to give your children!
Thank you so much for making your books easy to read and understand at any age!
Sincerely,
- Juliene Klem
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March 11 2005
Dear David,
I just finished your book, "Start Late, Finish Rich". I must say I am truly inspired...and motivated!!! I have had an idea about starting a very small-home based business-with very low start up costs...for the past eight months...Well, I have finally done it... after reading your book....I have made a committment to really put it into motion...and I have never been so excited!!!
There is one aspect of your book that really struck a chord with me.That was the story of a young entreprenuer who contributed a small percentage of his company's earnings to charity!!!! From the day I started my idea and long before, I have given a large portion of my time and energies to the Ronald McDonald House in Fort Lauderdale with their fundraising!!! (I am very good with that!!!) Yet,as each day goes by, my ideas to start my home business-besides my full time day job have truly developed and my business concept has become sharper, clearer and more refined .By helping the RMH reach their goals I am also reaching mine.I have never been more satisfied with my life. Many thanks for your book and for helping inspire the baby boomers to save more for their future!!!
Best wishes and deepest thanks..SA
- Sandy Amir
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March 11 2005
David, I just read about the double latte factor and realized my husband and I have been doing this without having a name for it. When we moved almost two years ago our basic cable rates were going up to almost $45 a month from about $35 a month. My husband said he was not going to pay for that. So, we called our local cable company and asked for the basic of basics of cable. They kept quoting the price of $45 a month. After several calls we finally got them to admit that they had a package of the real basic channels for about $10 a month. We also cut our internet from DSL (over $50 a month) to basic for $10 a month with netzero. Works fine. No problems. I love books and renting movies. So, I have a library card. I request new releases as soon as they come out from my library. So no more $3.50 for each movie rental. Books are free to read. If I check one out and feel like I need to have it on my bookshelf, then money is saved until I can buy it. We also cut our home phone to basic for about $15 a month. No caller i.d., no call waiting, etc.. Works fine. I would recommend everyone trying it. I didn't think I could live without all those cable channels, but I was so surprised to find out it didn't make a bit of difference. I learned all this from my mom when my dad lost his job and had to take another job that didn't pay as much. She cut everything to the bare minimum. That was years ago and he makes more than he did at his job he lost and they still feel they don't need all those cable channels.
- Phoebe Forister
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March 11 2005
More than a year ago I learned that I need to open a Roth IRA RIGHT NOW!!! (I'm 25). If it wasn't for David's newsletter in my inbox this morning about Social Security, it probably would have never happened. I kept thinking I couldn't part with the measley $100 bucks to open the account. Here, I owe my Mom $6,000, my boyfriend $350, my credit card $2,400, and my roommate is now moving out! But I realized this morning that I can at least look forward to getting old...just don't tell my "lenders" what I did!
- Aimee Y.
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March 11 2005
Your book is awesome. I have already sent e-mails to all my family out east about all the information that I have learned.
I have already changed my Annual Rate on my credit card from 25.24% to 14.99%. The annual fee can be deleted from my account if I ask for a Courtesy Waiver when the fee is charged. But even better yet, my spouse is in the military and I will change my interest rate to the Soldiers & Sailors Act (I think its 6.99).
Currently, I am looking for a "job" as a legal assistant in San Francisco, but I am seriously looking into opening my own business. My husband wants to open a coffee shop in 5 years when he retires from the military.
Thank you for writing such a easy book to read. It took me 3 days to read it and the best part is I understand it.
Maybe you can write a book about ways that the Military can Start Late and Finish Rich.
- Tricia Chiaro
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March 11 2005
Dear David,
Thank you for your books and crisp delivery. I scanned "Automatic Millionaire" at a bookstore 3 weeks ago and purchased "Start Late & Finish Early" a week later. Scanning & reading your books immediately mobilized me. Using the DOLP approach I restructured my debt payments and paid off two debts and gained $609/mo that is going toward "Paying me First". Additionally, I pursued a credit union VISA at 9.5% and transfered over two credit cards at 24.9% and 25.9% respectively. I've ceased the free-flow purchases of coffee and sweets during the work week and have begun brown bagging it 4 days a week. I've even been rethinking my weekend driving errands to be more efficient with my time and gas mileage. This morning called my Insurance company to transfer my auto insurance over to my home Insurance company gaining 10% discount on home owner Insurance & getting a better auto rate too. That AM call will save me $987 over the coming year. I am so happy with the revamping already accomplished and see more savings and riches in my future.
Thank You!
PS I am buying three copies of Automatic Millionaire which I am giving to my two nephews and to my son.
- Eileen Snead
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March 11 2005
Like many others, I devoured Start Late, Finish Rich and got my husband to read it as well. We never thought we had enough to get out of debt, much less save anything, but since reading the book he's begun contributing to his 401(k), I've gotten the interest on our Visa card reduced and I got rid of all the extras on our phone bill. We're really taking control of our finances and even planning to begin making regular contributions to our IRAs (something we haven't, unfortunately, done in a long time).
My latte factor was already very low, but my commitment to holding onto my cash has been refreshed. I don't work in an office, so I don't have access to a coffee machine, but I carry tea bags with me and fill up with hot water at my union office and have saved a bundle of money that way. Refilling my water bottle is also saving me quite a bit. Finally, we've stopped eating out except on vacation or special occasions and, not only are we saving tons of cash, but I'm actually enjoying cooking!
It is so wonderful to see this information presented in a positive way. I'm in the theater and work sporadically, but I'm inspired to jump start my fledgling internet business when I'm not working at my craft (and you can bet I'll be paying myself first). I hope many people in the arts will read this book and be inspired as I have. Most of my friends think being in the arts is a life sentence in the poorhouse, but it need NOT be that way.
- Kelly Patterson
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March 11 2005
Mr. Bach, I am a Dancing Fool since I started reading your new book "Start Late, Finish Rich". I already saved TWO HUNDERED Dollars a month in INTEREST by following your advise regarding Credit Cards. Your Books are for people that want to know what to do! I needed help, and didn't even know it.
God Bless You for your great advice!
- Bryan Berry
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March 11 2005
Dear Mr. Bach.
I am starting late and I will finish rich.
Living paycheque to paycheque is something now in the past. After only one weeek, I have opened my first bank account and started contributing to my first RRSP.
Hope you remember my name, I will write back after I clear my first million.
Thank you for everything.
Jeff Lewis
- Jeff Lewis
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March 11 2005
A couple of weeks ago, I was finishing up reading Automatic Millionaire when I heard David interviewed on the Bob & Sheri show about his newest book Start Late Finish Rich. I picked it up that day and read it immediately. I've always been good with money, but timid about investing. Thanks to these books, I am now contributing 15% to 401K (up from 6%). And I have placed the money in a balanced fund rather than a stable value fund. I feel empowered and plan to find another 50 bucks a month to invest directly on my own. My husband and I are 35 and dream of retiring in 15 years. Thanks to David, that dream is a possibility.
Thank you so much for breaking my inertia!
- Tanya Jones
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March 9 2005
I finished your book in 2 days that’s a record for me. David I would like to thank you. Thank you for writing a book that makes sense and is easy to read. I have read other books but none have gotten me so motivated as yours did. Yesterday I closed all but two of my credit cards and will have the last one paid off next month. I also made a plan to pay off my student load early and start saving for a house. I will start an IRA next week and I ordered The Automatic Millionaire Workbook and Smart Couples Finish Rich from Amazon.com.
Thank you for your books and website.
Sincerely,
- Kevin Dixon
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March 9 2005
The vending machine was calling my name every day - at $1.25 per chocolate bar, I was spending almost $300 per year just on my afternoon pick me up. My morning muffin; another dollar a day, and I'm a sucker for fundraisers selling chocolate covered almonds at work for $2 per box!! I have been spending hundreds of dollars per year on snacks at work.
I'm making my own muffins now for a lot less and trying to stay away from the chocolate bars for more reasons than just the money! Thanks to your book, Automatic Millionaire, I've automated and increased my mortgage and loan payments (used the DOLP factor there) and also increased my RRSP contributions through work. Can't wait to give this book to my children. I've started late, so I'm reading your Start Late, Finish Rich book now. Smart Women Finish Rich is next on my list!
- Denise LaViolette
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March 8 2005
Dear Mr. Bach:
Thank you very much for your excellent work. Your books should be mandatory for all High School Seniors.
When I hit 40 earlier this year, I had a lot of pent up feelings of woulda, coulda, shoulda,...I just finished your book "Start Late, Finish Rich" and immediately enacted all of your financial advice-I jacked up my 401k to the max, did the "Latte factor" analysis, consolidated my debt, etc...Ironically, however I realized that your financial advice paled in comparison to the advice you give in the last chapter.
While I take great comfort in the fact that I have put my financial regrets to rest and have a rosy future ahead of me by acting on your financial advice now, the most important advice was to enjoy life now instead of wishing it away.
I have a 3 year old boy who loves to see Daddy come through the door. After working 6 days a week up to 12 hours a day I just want to put my feet up and zone out in front of the tube when I come home. Sadly, I was paying very little attention to my son even though he is the source of my greatest joy. NO MORE-I stoppped watching tv, I cut back on my hours, started scheduling fun things for us to do, and I am having a ball hanging around with my son. I am a little kid again as we wrestle, play GI Joes, smash trucks, etc....I immediately became the richest man in the world. Your book should have been called "Start Rich, Finish Rich"
THANK YOU,
- Matthew Meyers
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March 7 2005
Dear David,
Thank you so much for all your books and inspiring appearances on "Oprah" and CNN. I am a 38-year-old divorced woman, and until I had a nasty divorce that left me with nothing, I had kept my head in the sand completely regarding finance and investing. My lifestyle was that of "money in, money out," and I'd never even heard of the concept of paying yourself first.
I spent about two years just reading your books and those of others who specialized in investing and personal finance. As I'd left the U.S. immediately after college to live in Europe for 15 years, when I returned here after my divorce I had nothing...no retirement plan, no social security contributions, no property, no assets, not even a U.S. credit record. I lived on furniture and clothes from charity shops, and would go to a casino twice a day where I could buy full meals for 99 cents!
Somehow, your encouragement kept me going and I just knew I could turn this around. Within one year, I'd bought my first house, and as I live in a boomtown, my equity increased by appreciation by over $40K! I knew I had to then get busy and follow your other steps...actually organizing my financial records was the biggest and scariest hurdle of all, but I did it. After that, I saw a hypnotist for one long session to get to the bottom of "the money thing", and boy, did that clear up a lot of old subconscious junk! I was then able to go ahead and start my first I.R.A. (I am a self-employed hypnotist!), and then take steps towards marketing my hypnosis CD's online. Furthermore, I also took advantage of a state grant to get me retrained as a paralegal, and I am now scheduled to begin my first paralegal job next week, thereby tripling my income in one go!
Having learned from you to pay myself first, even when I was actually living below the poverty line, I have really learned that no matter what your income, it is still possible to save, invest, and to insure and protect yourself. I am looking forward to building my new career, growing my business on the side, and becoming a weekend real estate warrior!
Thank you so very much, David...you have really helped me turn my life around. As a hypnotist, I can tell you that while a positive attitude is absolutely necessary for success, you still can't get anywhere if you lack the basic know-how of what it is you want to do. You've provided that elegantly, simply, and in a very encouraging way. I also send you lots of business by referring your books to clients!
All the best,
- Lana McGlasson
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March 4 2005
Hello David,
Although I have read over half of your book I can truly see the value in your information.
I find it intriguing that our educational system prepares students so well for the work force yet the system lacks such a crucial part of going through life...that being how to manage our personal finances.
I can tell you without hesitation the positive impact your book will have on my financial portfolio is truly welcomed. In the years to follow, I will let you know how much money I will have made from your book of which I invested $20.00Cnd..
I realize you to be American. The translation of your book from U.S. to Canadian is outstanding with one exception...Starbucks! Tim Hortons in the BIG winner in Canada so I have converted your Latte Factor to "Timmy’s Factor".
I would be interested in hearing you speak live if ever you visit Canada.
Thank you for your inspiration.
- David Krampp
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March 4 2005
I must admit, I was at the bookstore to buy another in a series of Rich Dad, Poor Dad, when I noticed your book Start Late, Finish Rich on the shelf. I had never heard of your series, but being 45 yrs old and afraid I am starting late, I bought your book.
I am very pleased in the simplicity and straightforwardness of the book, without feeling ridiculed as I did when reading the other book series.
Immediately after reading chapter 10, I contacted by broker and divided the $40K in my cash and IRA accounts (yes cash, since I have been terrified in the stock market after losing about $150K from 2001-2003) to the Dow Jones Dividend Index fund; and a Cohen & Steers REIT. Time will tell how these do, but sure beats what I was making leaving the accounts in cash!
I am currently (and have been) investing heavily in South Florida real estate, and 1 home in North Carolina (building homes to flip -- something the other book series frowned upon), and have already sold the first investment for $105K over buy price,without even making the first mortgage payment after the home was completed!!.
I admit I need more education in getting financing for the real estate deals, so my next reading will target this area.
I already have had a part time home business supplementing my regular income, but now am focused on building a business (and researching many franchises) as my primary income.
I felt pretty good with my past and now current investment endeavors while reading your book, but realize I have a lot of work to do. I am counting on my future reads of your series to assist me in the my quest for financial freedom
Thanks,
- Chuck Brunelas
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March 4 2005
My mother heard about "Automatic Millionaire" and urged me to get a copy. At first I resisted; I was thinking this was another one of those "instant millionaire" schemes. But I read the write up on it and decided to get a copy for myself. I have since bought 3 more copies for friends and relatives! I read the book in just a few short days last June or July. I immediately followed your advice on my investment mix for my 401K plan, increased my investment into my 401K AND increased the amount I was putting into savings -- all automatically, of course!! As of this summer, I should be completely credit card debt free and my 401K has grown half again it's size since I changed the mix and amount in line with your suggestions!! All of this and I'm still not on a shoestring budget!! I can't thank you enough (or my mom!)!
- Joan Whitley
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March 4 2005
David,
A few months ago, I found The Automatic Millionaire laying on my dad's bed and I read it in a couple of hours. Those hours changed the way I think about life and I thank you as well as my dad for leaving it there.
Right now I am a senior in high school just like the rest of my friends, and upon graduation we will all have one thing in common with every other high school graduate...which is a clean slate to work with financially, no debt, etc. However, I will have the knowledge of what you taught me, which in today's world is priceless.
Thanks again.
- Chris
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March 4 2005
Dear David,
This past summer I purchased your book "Smart Couples Finish Rich" because I was searching for a better financial direction for myself and my husband. We are both teachers who had little savings and a lot of debt. Not only was I greatly impressed by the practical information, but I also enjoyed the great anecdotes and friendly style of the text.
In the time since I first read your book, I have opened a 403b and a Roth IRA to supplement my pension plan. I have purchased life insurance and I have consolidated my credit-card debt. Seeing my "little" contributions add up quickly has relieved my stress and given me more confidence. Also, my husband and I have begun to set 6-month and yearly financial goals.
Thank you very much for helping me to understand the VALUE behind setting long-term goals. By living a life in harmony with my values, I realize that I can still "Finish Rich." I can't wait to show my husband this website.
Sincerely,
- Simone Feaster-Armour
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March 4 2005
Greetings David!
I picked up your book the other day. I had hesitated, as we are following a budget, with no money being saved :( I am really glad that I bought! Today is Saturday and my husband and I set up a weekly payment for our home mortgage and added $25 per week extra towards the principle. It is great to know that our house will be payed off sooner or that we will have equity in the future to pursue real estate! We are currently figuring out the latte factor, which for us is cigarettes, and it adds up at $6 per pack/per day. That is a lot of money! I currently started working, so the 401k that my company offers will not be available until I reach six months of employment. I was going to sign up, but I was only considering deducting $50 per pay date...not anymore! My husband has a 401k as well, and it will need to be adjusted..little did we know! I had felt a overwhelemed reading the book, but then I realized, that we just needed to start. Rome was not built in a day! We feel positive about our future, there is a light at the end of the tunnel. We will be rich and be able to help our children with college! Thank you so much!
Eric and Andrea Mills
Pj, Leif, and Anais
- Andrea Mills
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March 4 2005
Hi David,
I just wanted to thank you for inspiring me to do the right thing for my retirement. I bought your book "The Automatic Millionaire." I couldn't stop reading it. I work a graveyard shirt as an aircraft mechanic. Usually when I get off I go to sleep, but I couldn't keep my mind off what the next page was about. I had to finish it and I did, that morning. I'm only 26 years old and make over $40,000 a year. My company has a 401K and pension plan. The first day I started working there I was already enrolled in the pension plan. Today I called my employer and Union Hall and got into 401K today taking out 10% and went to my bank to get a Roth IRA started, just that quick.
You really changed my life and thoughts. I pray by the time I'm 40 I'll have my house paid off. I already have a car that's paid off and an SUV Pathfinder that I make payments on and I have no kids, only a girlfriend who is high maintenance!
Thank you so very much--I too am on my way to becoming an Automatic Millionaire!
- Priscilla Horne
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March 4 2005
I wish I would have read your book years ago.However at age 46 I am finally going to take charge of my life.
In 2001 I took a job that paid 30,000 more than I was making. This was it I was going to have the good life and be out of debt. The first thing I did was reward myself by buying a pair of diamond earings. Of course I deserved this due to my increase in pay and evening hours. I also deserved eating out all the time, a person to help with house cleanning, a new fancy car due to my long distant drive (I had to be comfortable for the 45 minute commute time one way), babysitters, tutors, and purchases of books on tape. Instead of getting debt free, my expenses increased along with my debt...SIGNIFICANTLY.
I thought since I made good money I could live like I was rich. I now since learned it is not what you earn but what you save. Which for me was nothing. I lived paycheck to paycheck with the thinking I will just work more and make more and have more things. My health relationships and finances started to fail me. I have a game plan to get debt free along with a saving plan. My 401 K plan at work, saving 2 hours of my pay per day to play catch up, along with eventually working in town, saving gas money,wear and tear on my car. I now rent cassettes at the library, found someone to share the driving, bring my lunch, and try so hard to make meals in advance to save from eating out. Balance is a new word for me.
Thanks for all your great ideas to show me anyone can do it as long as you discover where your money is really going and you look at the whole picture. I now have realistic goals and a step by step plan. Our family cut back on expensive gifts and began doing things for one another to make their life easier instead of large purchases. How much someone makes isn't the most important thing in life. Ask me I made $96,000 last year and have nothing to show for it or no savings. I have less now than I did when I worked less. I have more things like a bigger house with a bigger payment but not more time with my 2 sons and my husband and daughter, they are what really matter in life.
- Tama Wilson
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