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January 25 2005
Last Saturday, I picked up your book and spent the afternoon in our oceanfront condo. The view of the ocean was spectacular. The material in your book was even better. In fact, I was so intrigued, I did not turn on the football playoff games. Instead, I read most of your book.
You have done a really nice job presenting the material. Your message was straightforward and turned over a new leaf in my life. This morning, I'm on the telephone to our representive for our 403 accounts, contacting our mortgage companies to gather information about our real estate properties, and determining which mutual fund would be best for our "rainy day" account.
My wife and I are educators in our mid-forties. Our primary residence is in San Diego. In addition, we have a vacation home in Keystone, Colorado and an investment beachfront condominium in San Diego near Sea World. Our 403b accounts are moving right along and we have a some money in our "rainy day" account.
David, thanks again for sharing your gifts with me. I'm a raving fan and will insist our two teenage sons read your book. My only wish is that I would have received your material 30 years ago.
- Kurt Madden
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January 25 2005
I just felt the need to take you up on your invitation to share with you any inspirations I got from reading your book. First of all I am by no means what you would call a "book worm". If I'm reading any sort of book, it is on one of three topics: golf, psychology/social science or health issues. For the past two days I have not been able to put this book down. I've read each chapter at least three times and have several pages of written notes. My wife is in total shock because everything in your book she has been trying to convince me to follow.
Thank you so much for writing such a book, especially for the impact it has had on my life over the course of two short days. We have implemented all of the steps listed in the book. In fact I have a 9 am appointment with our financial planner from Prudential to set up monthly AUTOMATIC payments into our IRA.
Again, thank you for this great work of art.
- Kendrick Major
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January 25 2005
When I got my 1st job after college four years ago, I wanted to know more about how to manage my money from the get-go. Amongst the hundreds of personal finance books, yours stood out: "Smart Women Finish Rich". "Sounds perfect!" I thought. "This is the right book for me!" When my (now) husband and I moved in together, we read "Smart Couples Finish Rich" together to learn how to manage finances as a unit. We implemented everything: the filing system, the goal and value setting, 5-year plan, I didn't have a coffee or latte for 3 years, etc. Here's a quick summary of our savings (we started with just about nothing after college):
401(k)s: $60,232
IRAs: $38,046
Mutual Funds and Cash (non-retirement): $45,037
Stocks: $6,871
Approx Total: $149,918
We have no debt, have had no financial help from parents (other than my living at home for 2 years in order to speed up goal-reaching), and owned no real estate during this time.
We just made an offer on our first house in Oregon, which we will use as either a rental or a vacation home.
Your words have made a tremendous difference in our growing sense of financial security and our confidence in our abilities to follow-through. We are thrilled with the choices this savings affords us.
- Natalie and Josh
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January 25 2005
David’s book not just teaches, but does so in a way that helps you appreciate what you would need to do in your own life in order to finish rich. While most financial books teach you about the "whats", this book encourages you and shows you the "hows", which is pretty important to those who may not know "where to start". David helps you get through your financial worries by helping you understand how to apply his financial advice in your life, starting with "putting your money where your values are". This is truly a great book -informative, encouraging and inspirational!
- Karen Catalan
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January 25 2005
Bach is a great financial coach. He knows how to bring couples together on a topic that often divides them.
- John Gray
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January 25 2005
Thanks to the Automatic Millionaire, in particular The Latte Factor, I have given up my $168/mo. cigarette habit and switched that money directly into my 401(k). I now contribute 15%, I've made it automatic, and getting rich actually costs me less than smoking!
- Isaac Held
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January 25 2005
Hi. I just wanted to say thanks for writing the book "The Automatic Millionaire". The book inspired my fiance and I so much, that we went out and bought "Smart Couples Finish Rich". We're getting married next year and thought about renting an apartment. After reading your book, we are now going to become homeowners instead of renters. Within the last week, I opened an IRA for retirement and opened a money market for the "rainy day" emergency money. I also have a great 401(k) plan at my company. I was only contributing 5% per week. I now changed that to 12%. I have also cancelled all of my credit cards except for one. Most importantly, I have automated all of my accounts. I feel we're on the right road to a carefree financial situation. Thanks again!!!
- Jeff Wallace
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January 25 2005
Hi, David and team -
I have listened to the CD set of The Automatic Millionaire and I’m convinced it is sound, solid advice.
When the coaching was brought to my attention by email I knew I had to join to force myself to be accountable. I read AM cover to cover in 3+ hours, I listened to the recordings of calls 1 and 2, I have begun the arduous task of getting my bills, credit card info, and other documents organized and last night even recruited my husband to listen to the call live with me.
What a difference feeling the excitement of the call live! I am highly motivated to make this program work for me and for my family. I am most in need of credit card debt reduction at this point. Soon I'll be selling a piece of real estate and applying a lump sum to eliminating that debt in full. The light is getting brighter.
Yesterday I moved some credit card debt from one card at 25% to another giving me 2.9% until 3/05. My plan is to be credit-avoidant period.
I thank you for the Power Charge exercise. I am a counselor and will be sharing this tool with clients, giving you full credit, which will also allow me to briefly share how and why you use it, and refer people to your material if they are interested. I am drawn to you as a provider of financial information mainly because I really appreciate your blending in spiritual values like tithing and enjoying your family along w/the practical money stuff. It's holistic, and I love that approach.
The other thing I'm super appreciative of is the lack of blaming you do. It's a huge burden to feel all the guilt and stress that comes w/credit card debt. You help us see that it doesn’t help to be blaming ourselves so much, but to move on and do better NOW. Again, how many times I say this to clients, but was not applying it to my own finances. Relief! Deep breath! Thank you.
Most exciting to report is that my conservative-attorney-husband left for work this morning with The Automatic Millionaire in hand, wanting to have it if time allowed him to do some reading today. We are talking about working together, along w/our son and possibly our daughter too, to purchase real estate as an investment. I've been trying to get him interested to do this w/me for 20 years and he would not budge. He listened to last night's call w/me, then we talked about all I'd had in mind one more time, and this morning he was throwing out to me which towns he thought might be good to start looking at. I am still shocked and amazed.
So, I've found your program confirming in some ways, and stretching my knowledge base in many others. And you may just have made happen in my marriage what I've been unable to do EVER! And I don't give up easily, so thank you, thank you for making this coaching so worthwhile to me. Onward and upward!
- Gay Hayden
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January 25 2005
After reading “Smart Women Finish Rich” and doing all of the exercises, I decided to change my coffee buying habits. I used to go to Starbucks every work day for a muffin and espresso drink (around $6.20 per day or $124 per month). I reviewed my checking account history and I have been spending an average of $100 every month at Starbucks. I now only go 2 days a week (Mon. and Fri.). The rest of the week I make coffee at home and use flavored creamer. I’m saving around $70 a month now. Thanks!
- Gail Cannon
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January 25 2005
David Bach’s The Automatic Millionaire proves that you don’t have to make a lot of money or have a complicated financial plan to get started – you can literally start towards your financial dreams today, in a matter of hours, with just one life changing secret: Pay yourself first and make it automatic! Equally important, this book shows you how to simplify and automate your entire financial life.
- Harry S. Dent, Jr.
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January 25 2005
David Bach brilliantly acknowledged the true economic power of women in his EVElutionary first book, Smart Women Finish Rich. He smartly follows up with Smart Couples Finish Rich, believing in the importance of women, recognizing that traditional roles are changing and that incorporating a woman's financial needs will move a couple into their best future.
- Faith Popcorn
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January 25 2005
I've read all your books...twice: The Automatic Millionaire, Smart Women Finish Rich, and Smart Couples Finish Rich. These books have impacted my life, my marriage, and my finances, dramatically. I recommend them to friends and co-workers with great enthusiasm. These books are empowering! I've always been fearful of facing the truth about our debt - ignoring it was the easiest way. I'm an avid cyclist and spend hours training on the bike. I've taken this same passion and focused on finances with the same attitude. Thank you for you kindness, your compassion, your inspiration, and your no-nonsense way.
- Emily Goble
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January 25 2005
Smart Women Finish Rich is the best financial planning book I've EVER read, and I've read them all.
- Eileen Powell
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January 25 2005
The Automatic Millionaire is easy to read, exciting and gives very easy steps that changed my financial life in a day. I've read many books on managing money but they seemed heavy and complicated -- and they didn't stick.
The Automatic Millionaire just shows simple ways to make small adjustments, set up accounts online, and get started immediately (which makes a big difference with your money in the long run!) His positive tone actually makes money fun -- and made me feel quite enthusiastic, energized and happy about money and the easy ways to make it work for me!
I wish this book were required reading in all high schools or colleges. I plan on giving this book to everyone I know this year. Thanks, David!!
- Courtney Ryan
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January 25 2005
About a year ago I took my first class on personal finance at a local college. It was the most amazing and informative class I have taken yet. I learned things that I could really use in my everyday life, and this is where I learned about your books. Then an amazing thing happened to me a few weeks ago. I was on break from school and had a little free time and decided to pick up your book again. I reread about the Latte Factor and decided that I better really try this instead of just telling myself that I can't cut anymore corners.
Please send a warning to all your readers that there are hidden Lattes at the grocery store as well. As I began looking at various products I realized just how much money I was wasting on brand named products. I began really watching what brands I was purchasing and saved an amazing $23.42 on my weekly store run. Yet, more amazing was the next week when I went to the grocery store and purchased only the items that I had on my list, no extras, and I saved a womping $38.15. Now I must admit I was in complete shock. I had just found an extra $61.57 each week, that's 246.28 each month extra to invest. When I returned home I found my husband sitting on the couch with a cup of coffee from Starbucks and just completely busted out laughing. Yes, I found two Latte's that day - the grocery store and my husband.
To say the least, I am pleased to say that I have since opened Coverdell education accounts for both of my children. I am 34 years old with absolutely no debt (not even a mortgage), a good start on my retirement account and now savings for my children's college education. That is nothing to frown about. I would like to send a heartfelt thanks to Mr. Bach for writing books that easy to read and providing action steps to follow. Your books have truly changed my financial life. I actually enjoy saving more than I do spending, now that's amazing!!!!! Thanks from the one who is on the search to find all my hidden lattes!
- Janel Polster
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January 25 2005
THANK YOU! My husband and I are about half way through your Automatic Millionaire program and we have already raised the percentage going to our 401K accounts and are revamping our automatic savings at the bank for our emergency funds. Of course, we knew we should have done that often during the years, but your program actually got us to take action. The best thing we found out from your program is that we were actually doing things right by having all of this done automatically. We just need to increase everything.
We have about $600 in credit card debt on an interest free account. Other than that we are on a cash basis. We are currently paying an extra $75 a month towards our mortgage by having the bank automatically draft the extra principal payment with our regular payment. We tithe 10% of our income to our church. I think we will be okay in retirement. We plan to work another 5 years. My husband will be 63 and I will be 60.
Again, thanks for your great program. I'm hoping to share it with my friends, but so many of them cannot see beyond the "I can't afford to save" mindset.
- Diane Wunder
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January 25 2005
Many of the steps David Bach talks about in his new book The Automatic Millionaire truly work and I am proof of it. David is trying to get us to act upon his advice rather than just read another book. The Automatic Millionaire gets you to act upon what we have heard for years!
- Steven Hilson
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January 25 2005
It's truly amazing because I am always complaining that I am broke. Talk about living paycheck to paycheck. That's probably the only thing I am an expert on. I took the Latte Factor test and discovered that I spend at the very least $225.00 a month on coffee, newspapers and lunch during my 5 day work week. And I have to say that I use $6.00 a day for lunch, which at times could be more (working in Manhattan's Time Square). I recently opened a 401k plan and was shocked to see how much I have set aside without noticing. This has always been a challenge for me. I realize I need to make alot of changes and think about my financial future so I've decided (after taking the Latte test) that I won't spend this much on coffee and will take that money to pay myself first.
Thanks for the Latte Factor Test!!!!!
- Deanna Garcia
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January 25 2005
I have enjoyed the coaching program so much and can't believe how much I have learned.
- Denise Cutts
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January 25 2005
Last night I was using your calculators and discovered a lot of things about my financial status.
I found out that I have been spending $38.90 a month for mobile phone which I do not need, $30 a week on bakery goods, and most destructive of all, I spend $200 a month "e-baying". I do not have time to shop so I have been shopping at the ebay antique stores at home. I am an e-bay freak. I just realized that it would be cheaper and more fun to save the money and travel to buy these "antiques". ( If I still want to buy them.) I could have saved $35,310 over 10 years . This amount would have strengthened my financial security.
- Haina Maeder
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January 25 2005
I've actually been using the Latte Factor THEORY for more than a year now. The theory itself is incredible...and I hope to soon utilize it. I basically kept track of almost EVERY cent I spent for an entire YEAR...then added it all up. Just some examples...$647.98 in groceries for the year 2003. It should be noted I'm single, so everything is SOLELY bought for one person. $116.72 for film processing, $55.17 for film, $19.94 for camera batteries, $11.38 for photo albums. You get the picture. I'm constantly keeping tabs of everything I buy. And I was wildly amused at your mention in the book on highway tolls. I ALWAYS try to get around them by taking an alternate, but equally quick, route. People NEED to think more about what they spend money on EVERY day of their lives! Don't even GET me started on the joys of double and even TRIPLE coupon week at the supermarket! VERY interesting book...bravo!
- Gary Sprengel
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January 25 2005
My name is Gregory Quimby and my Latte Factor was discovered when I realized how much money I typically spent going out to lunch during the week. When I first started my job, my co-workers and I went out to lunch daily as a social gathering in order to get to know each other. After a while, our lunches turned into mere habit. Realizing I was spending approximately $12.50 a day, I started bringing my own lunch into work and eating at the office. After 4 months I have saved at least $750 just on food, not to mention the reduction in my weekly gasoline expenditures.
Currently, I work in a smaller NC city but am going to change jobs in a few months. I plan to move to a more metropolitan area such as Washington DC or New York. By continuing to implement this program I can count on saving as much as 120% because of the increased cost of food at restaurants. Thanks for listening to my success story.
- Greg Quimby
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January 25 2005
I just finished your book and wanted to provide you with some feedback. I have been following the basic principles of your book since I was in my early 30s. I wish I had started right after high school - nevertheless, I have done very well for myself. I am now 55 years old, retired, and living very comfortably because I have done what your book outlines for becoming an automatic millionaire. Your book should be required reading for all H.S. seniors and college freshmen. Starting early is the key to building wealth. The "automatic" element is key because most people lack the discipline to do it themselves. Fortunately, I was very disciplined and it worked well for me!!! Great book.
- Dianne L. Zimmerman
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January 25 2005
I am writing this to you as a thank you. My husband and I are in our early thirties and have 16 month old twin boys. We have become increasingly concerned over the past few years about working to get out of debt and setting up our retirement funds correctly. Luckily, we have been receiving good advice. However, I was having a hard time seeing the bigger picture and putting it all together, never mind knowing where to begin. Thanks to your little book I have taken immediate action to allocating my retirement fund correctly, automating everything, paying off debt, saving for a rainy day and most importantly.... PAYING MYSELF FIRST!!!!!! Thank you, thank you, thank you.
- Dawn Stockwell
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January 25 2005
I love the book. My Latte Factor comes in the shape of getting a 44 ounce Diet Coke for $1.16 everyday. It isn't necessary, healthy, or saving me money. I also spend .75 for two milk cartons every day at lunch time when I could be bringing milk from home. Your book is very informative and I will teach it to my boys.
- Debbie Edwards
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