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January 26 2005
David, when I watched you on Oprah, I was so fascinated I went to the library and borrowed The Automatic Millionaire. I read it all night. It has been two weeks now and I paid myself 10%, paid off 1 credit card, reduced one card half the amount owed, made arrangements to pay another card automatically 3x the monthly payment. I have an appointment at the bank next week to open a SEP (I'm self-employed). It was so easy. I have 3 boys in college and I help my mom (who had a stroke). My income is very decent but I was a financial wreck. I just didn't know how to organize the bills, savings and all else. In 2 weeks I did all this, now I can spend my free time doing something special. Oh the money I was spending on coffee, lotto, nails & at the mall, I put in a box. I checked this morning and I have $160.00 UNBELIEVABLE. Thanks David, I am on the path to Automatic $$$$$$$$'s. It feels real good and I am proud that I made the first steps as you recommend..............Thanks.
- Reader
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January 26 2005
Thank you so much for your book. It has truly changed my life. I have just this moment finished it but I have already made some changes in my financial life and look forward to finishing rich. For four years now I have contributed to my 401k but at the minimum level because that's where the company matches up to. I didn't even think about the pre-tax benefits, and your book has opened my eyes. I own my condo and look forward to setting up a bi-weekly pay plan if there is no pre-pay penalty.
- Valerie
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January 26 2005
My husband and I caught the tail end of your appearance on Oprah. I can only tell you that thank you is not enough to express the way we feel by reading and most importantly taking action to becoming AUTOMATIC millionaires with your easy and very understandable plan.
Thanks to you we have taken your advice and now are on the bi-weekly program for both our homes. We doubled up on our car payments, and will have them both paid off by May of this year. Rex and I also increased our 401 percentage to match the raise we got this year from the manufacturing plant we work at. We both have always wanted to retire comfortably at 55 or 56... we are well on our way now. (we are currently in our early 40's). Also we set up automaticlay to have our credit cards paid off by June of this year.
We have shared your book with both our sons. One is age 18 the other is 16. And to see them BOTH get as equally excited as we are about this, is again inexpressable. They both have set up auto deduction from their paychecks to go into a mutal fund. You can only see dollar signs (or should I say the letter M in bold print) in their eyes. Your time value of money chart on page 48 of your book was the hook line and sinker for them both. Being able to see it in black and white the numbers are there and the math adds up!! The four of us have sat down and started talking about our "lattes". Rex did not realize he was spending $5.00 per day (and no joking aside here) on coffee at work. He WAS buying 5-6 cups per day out of the machine.
David, I could go on and on how your book has changed my family for the better. We have been married now for 21 years and could only begin to tell you the financial struggles we have been through. But that is all in the past and we have been climbing up hill. And now that we have implemented your one-step plan we are well on our way to living rich and finishing rich. Again, thank you very much for sharing your plan and and yes we have always believed the more you give the wealthier you feel, in more ways then one.
- The Stinnett Family
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January 26 2005
My Latte experience happened because of a misunderstanding between my credit union and me. I had been saving $150.00 from my check each pay period and I decided to call the credit union and have them increase it to $200.00 each pay period. Well they misunderstood and now started taking out an additional $200.00 for a total of $350.00 each pay period or $700.00 a month. Imagine my shock when my paycheck came and I had $200.00 more deducted instead of the addition I had requested. After I came out of shock, I thought you know, let's try this. One tends to spend what they have! Well to make a long story short - I continue to have the $350.00 taken out each month and love it!!! It's amazing, I don't even miss it!!! Moral of the story - we spend what we have!!! And we can live on a lot less!
- Debbie
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January 26 2005
David, a few days ago I purchased your book The Automatic Millionaire. What a great book - if only I'd had it years ago. At the age of 52 we are now trying to save for retirement. This week our oldest grandchild turned 16 years old and for his birthday I purchased and sent your book The Automatic Millionaire. I have spoken to our youngest child and told him he needed to read this book after I am finished with it. I also purchased another copy for our other son who just finished college. At least they will know how to pay themselves first at an early age. I will purchase 3 more books for the other three.
My husband has a 401k and we both have a 457 plan. At first it was tough, but when we received our raises this past year, we both put that amount into our 457 plans. I am on a mission now. Thank you for writing this book and sharing your knowledge. May God bless.
- The Barnetts
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January 26 2005
This program has been such a blessing for me! I finally feel as if I am taking control over my finances instead of taking control over me. I finally know what I have, where it is, and learning a lot about what to do with it. Thank you so much for doing the good work you are doing. This is the most practical, easy to understand and implement program I’ve ever heard of. It is changing my life!
I’m already telling my friends this is the best thing I’ve ever done financially and I show them how much I’ve accomplished in only few months. I even had my two bothers and mother on the calls.
This program is priceless to me from the peace of mind I feel from knowing that I have a value based financial lifestyle that I understand and can manage.
- Xonna M. Clark
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January 26 2005
I teach Financial Planning classes for high school students. My husband and I recently read your book "The Automatic Millionaire". Although the material is a lot of what I have been saying in class for years, I am now able to bring it to new life. I wish I could make my teenagers as excited as I get by knowing this information. With your book I have been able to bring new stories to them and believe it or not, I think some of them might actually be "getting it". I am going to continue to stress for the remainder of the semester "paying yourself first" and pray that many more will see what a difference it can make on their future. As for my husband and myself, we fortunately were doing that,but we have still learned and are now aware of other areas where we need to concentrate. Thank you!!!
- Teresa Adams
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January 26 2005
David,
Yesterday I called my mortgage company to do bi-weekly payments. I just refinanced in July for a 30 year mortgage, I am 49. I was very disheartened. But with your method and an extra $40 bi- weekly I will have my mortgage paid off in 12 years and 2 months and save $55,600 in interest. Thank you! I am definitely gaining a wealth of knowledge from your program and look forward to your call this Monday.
Sincerely,
- Toni Marie Nappi
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January 26 2005
Dear David,
It was interesting to really figure out exactly how much I spend. I own my own business and since the business pays for some things, I didn't know exactly how much I spend personally- though I use Quickbooks to track it all. I made a spread sheet and was amazed at how much I spend.
I've found ways to cut: my life insurance premiums, my auto insurance premiums and my phone bill. I'm meeting with my new accountant tomorrow to talk about the best retirement vehicle for me and my business - I have an age weighted cross tested pension and profit plan, but with the departure of a few younger employees, it may not work well for me.
I've been automatically withdrawing quite a bit for investment/savings/ retirement since January and have been a pretty good saver anyway. My only debt is my mortgage and I made the first $1000/month extra payment today. So, I'm on my way! Your program is helping me get completely organized and systematic financially! Thanks!
- Linda
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January 26 2005
David, another great read. Just staying on course to become a Multi-Millionaire. Thanks for caring & sharing.
- Steve
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January 26 2005
Dear David, I say dear, because your book not only uplifted my husband and I, but it enabled us to look forward to our future. By reading your book we realized that we spent money on odds and ends that we didn't need. My husband spends on average of $5 a day just on food while at work. I spent an average of $3 a day on cigarettes. My husband also has a retirement plan at his current job, but didn't put any money into it. My husband and I are happy to announce that he is now putting 10% of his income in his 401k, we have now increased our mortgage payment by $150, which is going towards the principle of the payment. While this may just be the beginning for our turn around, I just wanted to thank you. We have also been trying to help others as well.
- The Crook Family
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January 26 2005
I took the latte factor challenge. And to be completely honest, I do not spend during the day. I eat at home in the mornings, I take my lunch and come home to cook dinner. I do not smoke or have any costly habit. What it did help me take a look at, was how much I was spending at the grocery store and Walmart when I could do without some things until a later date or all together. I really can't put a $ on it but I have set myself a cash allowance for groceries and Walmart so that I will stop buying everything through my checking account when I want it. I also hope to start putting more away for my future. Thanks,
- Scarlett Riggan
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January 26 2005
I am so excited to have just finished your book. My husband saw you on the Oprah show last week and couldn't wait to tell me about the Bi-Weekly mortgage. Together we went to Barnes and Noble and bought it, I say that cause we just don't buy books on this subject. We started it yesterday, reading out loud on a roadtrip. The more I read, the faster and more excited I was to hear your message that is so real and easy. It's been about an hour now since I finished with the acknowledgments.
Since closing the book I have made out a double sided page of attack to get back my finances. We are on the right track now - Thank you and God Bless,
- Pyper
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January 26 2005
I noticed for the first time in two years, in the past two weeks since I have been doing all this financial work, I have been dreaming again at night. Thanks again for your dedication on this subject. You have made a huge difference in me and my husbands lives and we will be forever grateful.
- Sue Trefethren
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January 26 2005
THANK YOU for speaking at our Extreme Networking Meeting! To say you were a hit is an understatement.
My clients are all very successful business owners and have heard scores of presentations in their business and personal lives. You held them absolutely spellbound and connected with all of them at a very personal level. The standing round of applause (which has never happened before) tells the story. Your presentation style and your personal values (which came shining through your message like the landing lights on a 747) brought the whole message of "Finish Rich" together.
I have already received tons of messages thanking me for having you as part of our program. Anyone looking to "WOW" their clients, friends, or associates should have David Bach share his message with them.
Thanks again, Best personal regards,
- Roger Sitkins
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January 26 2005
I just fininshed listening to the Automatic Millionaire. WOW! While going through the CDs, I realized all the things that I should be doing, now, however I was more concerned with how to take care of the debt that my husband and I had accumulated over the years. I thought, wow, this is great advice, however with our debt we'll never be able to pay ourselves first.
With your help I am embarking on a new road, a road to financial stability and freedom. I now have what I believe are the tools I need to get out of debt and work toward rebuilding our retirement after a few tough years.
I bought your book several months ago, however just hadn't had the time to read it, so earlier this week I bought the CDs to listen to in the car. (I'm in the car a lot!) Even though I purchased the 'book' twice, what an investment!!! I can't wait to share them with our sons and daughter so that they can start NOW to build their future without having to play catch-up like us. What a great gift. Our children will thank us, and you, although maybe not for a few years, once they realize just what a gift your insight and advice was.
Thank you again for steering us in the right direction. We'd lost our footing over the last few years, but now have a clear direction to move in. I can't thank you enough. I don't think I've ever been so moved by a book. This book has totally impacted my life. I can't wait to get started on rebuilding our wealth.
Thank you, thank you, thank you!
Also, thank you for sharing the free chapter on debt from your Workbook publication. I haven't read it yet, but look forward to reading it tomorrow. Thanks for sharing the light at the tunnel!!!!
- Stacy Martinez;
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January 26 2005
I have my own business, and felt I had just enough money to put it back into running the business and paying bills. I didn't realize the amound of money I was spending on useless items.
Thank you for you insights!
- Shelli Margheritis
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January 26 2005
David,
Your books (Smart Couples...and Automatic Millionaire) have forever changed my life. I can never go back to the way I was after reading the books. Thanks to your simple "why didn't I think of this before" plan, my family will retire wealthy. We are a young military family and are on our way with the strategy you lay out in simple black and white. Thank heavens I found you just in time.
I find myself so excited about the subject of finances that I volunteer to teach others at church about how to be "money smart" and I always bring your books with me as recommended reading. I tell all of my friends and family about what I have learned in the books and hope that they will someday become as excited as I am. The books also make a great gift!
Thank you a million times for teaching me how to be a millionaire when I retire. YOU ROCK!
With much gratitude,
- Sonja Yearsley
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January 26 2005
Mr. Bach,
I just finished your book The Automatic Millionaire and I have to say - and you've probably heard this before - but I am FIRED UP! Throughout the book, I kept telling myself, "Hurry up and finish so you can start!" I'm one of those who has to read all the details first and then make the move.
Oh, my name is Sylvina and I'm married and have no kids yet. I've bought many books on money management, read some, but not all. Some sit on my shelf and collect dust for me. But your book was different. There are several different reasons why your book was different, but I can't pin-point just one.
Perhaps it's a quick read, a simple read, you started with a story about real life average Joe's doing it and making it seem easy. Who knows, but it's working - at least for me.
You see I pretty much knew it all about how to get outta debt, stay outta debt, what I should be doing as far as investing for retirement - everything! But did I live it? Not exactly. I even worked on a TV program called the Money Machine (on the cable TV network Tech TV) which taught people about personal finance and investing using technology. So when I looked at my finances, I thought, how did I get into so much debt??? Between our credit cards, school
loans, cars, etc... it was embarrassing!
So I just want to say thank you for giving me whatever I needed to get into action! You cover all the bases. In other words, as I read your tips, I thought, "yeah but.... yeah but... yeah but..." Like paying your mortgage bi-weekly. My yeah but was "I'm not paying a fee to do that..." and of course you covered that too. But guess what? (And I know you'll be proud.) I thought of just paying extra on my mortgage once a month to
equal out a full extra payment a year before reading it in your book!
You have fired up yet one more "future millionaire"!
- Sylvina Goff
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January 26 2005
David,
First............your class is Great!! I am so excited about this program, and even though most would say I have boundless energy and enthusiasm everyone wants to know what’s gotten into me! I guess they can see how excited I am about this. I've learned so much in such a short time, and can't wait for the next call to find more little things that will lead up to my everyday "success stories".
After attempting the Latte Factor for 3 days in row, I realized that I don't really spend ANY unnecessary money (at least not anymore) on the day to day expenses, actually that is not something I've really done in a long time....I don't drink coffee, I've taken my lunch to work for probably the past 10 years (don't see much sense in spending money on food). What I figured out a month or so back...... is the times that I am in the grocery stores, clothes shopping, picking up all these "extra's" that are not necessary or needed. Now since reading your book (I bought it at the airport a few months back).....I think twice before I purchase anything and say "Do I really need this?" If I pause at all then it is not necessary and I don't purchase it. I took all my receipts from a past month and found over $600.00 worth of things I really didn't need or would not have missed had I not bought it, and those were only the receipts I happened to find...so maybe it wasn't the "exact homework" I was supposed to do, but the effect turned out the same. I've been working with that knowledge for the past 2 months.....this has allowed me to open the ING account and increase my 401K, and pay more towards my debt.
But what I have done over the past week includes.....
1...Set up my files and found "My Stuff"
2...Listened to the CD's for the first 8 sessions.
3...Listened to the entire CD "Automatic Millionaire" and the "Smart Women Finish Rich"
4....Gave my "Smart Couples Finish Rich" CD to co-workers that want to know everything I learned or read.
5....Got my FICO Score
6....Opened an ING acct with automatic payments coming from my checking acct every other Friday for my currently non-existent Emergency Fund.
7.....Increased my 401K to 8% from 3% (first I had set it for 13% and then listened to the credit card debt CD) and changed it to only an additional 5%, and the other 5% that I will put in the 401K I am paying towards my credit card debt.......the FICO report showed me all my outstanding debt and it was a rude awakening for me!!!
8.....Cut up 2 of my highest percent credit card.............ok I know I should cut them all up.....but they took me a REALLY long time to get back... after my divorce and being a single parent for the past 17 years. (finally I have them both in college this year!!!)..so even though I am not using the cards as they are frozen in my freezer (I did that after seeing my credit report and outstanding debt) I will continue to cut one up every week as I try to negotiate the interest rate down further (haven't gotten on the bankrate.com to compare interest rates yet, but that is on my agenda this week). I’ll continue to work on this until all of them are paid off.
Reading your book and listening to the coaching class last week just energized me even more to set my goals and see a clearer future, and I don't feel as stressed about my finances as I did. I know I have a long way to go..............I may be the student that takes the longest to get to my goal, but I will not give up until I'm there.
Just wanted to say Thank you.....and can't wait for the call tomorrow.
Have a Wonderful Week!!
- Renee
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January 26 2005
I just finished reading your book, "The Automatic Millionaire". I am 66 years old and retired from Eastman Kodak in 1991 at age 54. I am a financial conservative and was able to invest and save so that my wife and I can live a relatively worry-free life together. However, after reading your well-written book, I couldn't help but think how much easier, more rewarding, less risky, and less worrisome our years together might have been had we known about the principles laid out in your book. All is not lost, because we now plan to revise some of the things we are and are not doing. More importantly, we bought a copy of your book for each of our three kids and their spouses. I believe every student should be exposed to the lessons in your book before they graduate from high school. They, and the country, would be so much better off for it. Keep preaching the word.
- Terry Lindenmuth
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January 26 2005
David,
Whew! I just finished my homework this week and I feel much better than I did after completing last week's assignment! (I was one of the people who felt despair after "seeing where all the money goes". I found this week's work to be very inspiring! I know last week's homework was important foundational stuff. I think for me I have always put off doing a net worth worksheet and figuring out where all my money goes because I was afraid of what I might find. Well, you can't fix what you don't aknowledge!
I figured out that I spend more than I make and have since been cutting back in the "fluff" areas.
I want to say a big "THANKS" for the Power-Charge Exercise. I have always been a big goal-setter and have ALWAYS started my week out with a big "to do" list. I found the Power-Charge to be a much more positive way to look at things. Doing the exercise made me really see how much I get done. I determined that I actually am pretty good at getting stuff done!
For the rest of the homework, I did the following;
1) Phoned my benefits department at work and maxed out my 401k contribution (I have been enrolled for several years but had been making NO contribution for the last two years). I know this 15% contribution may cause me a little pain for awhile but it will be worth it. I will figure out a way to make it work!
2) I found out that I had NO beneficiary selected on my 401k and asked to be sent papers to correct this!
3) My current 401k account was weighted heavily towards my company stock. I re-diversified my existing account into a Balanced Fund (after doing research through several websites noted in your book).
4) I called my lawyer and made an appointment to update my will.
5) I made a phone call to my manager to see to check out the possibility of switching from an employee to independent contractor.
6) I completed my Values Circle. This was another very empowering exercise! I found that it really "linked" my core values to my money and that in-turn has made me more excited about creating as much wealth as possible! (Instead of just making money for the sake of having money).
I can't tell you how good I feel about everything I have accomplished in your class so far!!! I really feel like I am making some progress. The concept of the purpose-focused financial plan is HUGE for me! I am AMAZED at how much happier and fulfilled I feel just knowing my values based plan and knowing I am working on it NOW instead of having it be something I would eventually get to "someday".
THANK YOU DAVID!
- Sheila Johnson
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January 26 2005
I received "The Automatic Millionaire" on Friday Jan. 16, 2004, and I love your book. I saw you on Oprah and I was amazed with your tactics on becoming a Millionaire. I want to get out of debt now, and I am willing to do it with the help of your book. I even inspired my friends to get this book. Thanks.
- Shelly Browne
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January 26 2005
The value of this program to me is over $600,000! It has become an everyday part of my life. I have a smile on my face and sunshine in my heart knowing that I am successful.
- Sue Trefethren
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January 26 2005
I just finished reading "The Automatic Millionaire" and I want to say thank you. This is the first book on finances that I've purchased and read from cover to cover. You made everything interesting and fun. There wasn't any attempt to "scare" me into doing something and I respect that.
I have some tax things I need to finish clearing up and then, I'm going to take care of Paying Myself First and the other concepts in the book. I'm very excited about that prospect. I even read your Acknowledgements. I love your attitude toward the people in you life and toward life itself.
Thank you again. I'll email again as I get my systems in place. My eternal thanks for being out there when I needed you and my prayers for you, Michelle and baby Jack. You deserve all the riches life has in store for you.
- Sondra Ayers
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