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January 19 2005
Thank you, thank you, thank you for writing such an easy read self-help financial book. I purchased your book on 12 June 2004 and read a 102 pages on that day. On 13 June, I purchased to book for a very good friend.
When I returned to work on Monday, I decided to increase the amount I was contributing to a Deferred Compensation Plan. My orginal invest was 30 dollars a pay period which came to a little less than 3% of my gross biweekly salary. I decided to do 6%. Now that 6% has increase my contributions by $35.61 and my goal is to reach the 10% in 2005.
Next I have set-up a separate account that my mortgage payment can draft from and have added an additional 54 dollars that is being paid to principle. I decided to make it automatic.
Thank you, thank you, thank you, thank you and thank you again for being such a great writing and here is a kiss for(keeping it simple sweetie). I am greatful for kindness and willingless to help me and the millions listers and readers acheive such an worthwile goal.
Did I tell you thank you? If you happen to look over those words I am saying it again thank you, thank you, thank you, thank you for helping me acheive financial freedom and opening my eyes to a new way of thinking about money. Thank you David Bach and promise to give this book as gift on a regular basis.
Your new best friend,
- Stephanie Decquir
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January 19 2005
Your book, Smart Couples Finish Rich, was a gift from my dad, and it is changing my and my husband's lives! My dad bought three copies for his kids, and my husband and I read the first 100 pages the first few days we had the book. We quickly drew out our values circles (a life-changing exercise in itself!) and reorganized our filing system. We realized, also, how little we knew about our own net worth, our investments, our goals. In the last month, we have taken a small, but a great step...we found out that my uncle is a financial advisor (with your book on his bookshelf) and we made an appointment to meet with him. He was so impressed that we had been doing our homework, and at ages 25 and 32 (with a 13-month-old little boy), we are starting with plenty of time to finish rich.
We have big goals and dreams, but in order to get there, we have to take care of BIG debts standing in our way. A scary-looking school loan, a new car payment, and about $10,000 in credit card debt. Yikes!! Most days this seems pretty overwhelming to me, especially as the primary breadwinner of the family (I'm an RN and my husband is the world's best stay-at-home daddy!!), but since starting your book, we can see the light! Now more than ever, we are on our way to success. We have a goal to pay off three credit cards this year, and at our meeting with my financial advisor-uncle, we got the ball rolling on our 401(k) and 403(b) rollovers (from previous jobs). We are thrilled with your ideas, and we can't wait to start teaching our son about investing early. Thank you, thank you, thank you!! This is one of the best gifts my dad could have gotten us!
Sincerely,
- Michelle Collazo
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January 19 2005
David, I read your book the Automatic Millionaire. While I am doing some things correctly, I needed to make a few changes. I read the part about the latte factor and must say I thought it sounded funny, but than I set back and looked at what I spent on a daily basis. My morning started with a stop for soda on the way to work ($1.19) at my first break I go to breakfast ($5.00). Then there is lunch, another $5.00, second break, another soda ($1.19). Okay so I figured $12.28 not too bad, until I sat down and added up mine and my wife's weekly bill for eating out- an average of over $500.00 a month! Now your latte factor made a whole lot of sense and no longer looked funny. I now eat breakfast before I go to work and I pack my lunch, my wife and I still go out to eat but only on Friday nights. I was already in the company's 401K at 10%; they match up to 6% of my pay check. I have now increased my part to 14%. I already have money automatically coming out of my checking and going into a savings. I also have direct deposit going to mutal funds with Edward Jones. The only thing I really need to work on is my credit card bills.I am using the money that I am saving because of the latte factor (about $600.00 a month) and paying off my bills early. I also called a few of my credit card companies and asked them if they lower the interest rate. A few said they would and I now pay those by electronic payment. A few even just lowered my interest rate, because I have good credit. The newest luck I have had is that my wife was just offered a house as part of her benefit package for work. We make one room an office and the house is free for us to live in. So I am renting my house and letting someone else build my equity, and the extra money is going to bills so we can pay them off faster. I am also in the middle of buying two foreclosed houses to use as rentals.
Your book was very helpful and I do see myself finishing rich. I let one of my friends read your book and told him to pass it on when he is done.
You truly did help my wife and I.
Thank You,
- James L . Williams Jr.
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January 19 2005
I was allowed to borrow a friend's edition of Smart Women Finsh Rich (for Canadians) back in September. It SO motivated me that I read it in a week, made pages of notes (as I had to return the book), and made an appointment at my bank the following week. I got rid of two of my three credit cards and kept the one with the lowest interest rate for car emergencies and lowered the available credit from $3500 to $1000. I consolidated the other credit card balances (totalling almost $10,000) by moving them into my personal Credit Line at less than half the interest rate of the credit cards. I arranged to make automatic payments on the credit line every week so that it is paid off in three years. I am routinely monitoring my money so that I can figure out just how much I can put into RRSP's, etc., starting in November. I left the month of October open so I could see where I was wasting my money on "latte". I transfer money into a separate account (paying myself first) each pay-day and I am committed to watching my impulse spending like a hawk. So far, I am feeling much more in control of my money and I can actually see growth in my savings account balance for the first time in years!
Well, thanks again for writing such informative and easy-to-understand books for the average person! You've changed my life and hopefully, I can now work on changing it for myself for a more comfortable future!
Yours truly,
- Lisa Bayley
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January 19 2005
Following steps outlined in "Smart Women Finish Rich" inspired me to pay off my debt in entirety, revamp my ailing credit history, and save towards retirement when before hand, I'd been living paycheck to paycheck for most of my life. Even though, now, I'm experiencing yet another layoff, which before reading your books would've set me back for years. I have the luxury of choosing from good options and can support myself for a couple of years, if necessary. I'm looking forward to becoming an automatic investor in the near future. Thank you much for the information and inspirational books.
- Kristin Wall
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January 19 2005
I'm 30 years old and I have read your books. I started to work on my own financial chaos after following your program. Now I can say that I have control of my finances. I pay off the balance of my credit card every month and I opened a mutual fund and an IRA account. I have saved money and bought myself a new car which is paid for, and now I am working on paying off my student loan. I want to thank you very much for enlightening my life.
- Kenia
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January 19 2005
David and Co.,
Thanks for your commitment to serve people. The newsletter is to the point, timely, and personal.
Smart Couples inspired me to become a financial advisor. I am having a blast doing it and helping people. I make your book required reading as part of my process.
Keep going!
- Joe Fischer
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January 19 2005
After reading "The Automatic Millionaire" I changed my 401(k) contribution from 10% to 25%. I own an apartment and make extra payments every month. I work and live in New York City and am 25 years old so I know how tempting it is to use plastic. There are sooo many Latte Factor temptations (Starbucks,cabs) in this city so it is tempting to stray from the plan but knowing that it's all automatic and I am on my way to FINISHING RICH makes it all worth it.
Making it AUTOMATIC should not be a choice!!!
- Jessic Escobar
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January 19 2005
I have such a story to tell you. I married my wonderful husband December 17, 2003. He is the father of 3 beautiful children. I myself have a daughter. Put us all together and you have the Brady Bunch. I am only 27 and he is 31. Neither of us received child support and we both knew it was up to us to raise the children to be fine outstanding adults. Money has always been an issue with us. Then today, while listening to you on WEZL 103.5 in Charleston SC, I couldn't believe how much it seemed like me you were talking about. After the radio show was over, I went straight to the book store and purchased your book The Automatic Millionaire.
The funny part is I was telling my two 11 year old daughters about the book, and they both said, duh! Mom... We already do the Latte Factor. We want to go to Disney World this summer, so the ice cream money you give us each day we have been putting in a box to save up the money for our tickets. I asked how much they have saved and they told me they have saved $224!!! ICE CREAM MONEY!!! Can you believe it?! And I kept my log today of all that I spent and all I can say is, I waste way too much money. I know I can do this and we are making this an activity for the whole family!!! Thank you and God Bless you!
- Mary K. Morris
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January 19 2005
My name is Jennifer and I am a 35 year old single woman. A couple of weeks ago my mom saw you speak on Oprah and she immediately went out and purchased two books, one for me and one for my sister.
Since reading our book, I have already done the following; I opened up an IRA account, I am saving the maximum of $3,000 for 2003 which will be invested by mid-March. From there, I set up a $500 monthly automatic payment plan, either an ROTH, SEP or SIMPLE IRA (not sure which is best yet). Also, this past week I started paying myself at the end of every day, $51 to be exact. This money is being transfered from my business account into my IRA checking account which then will be part of the $500 automatic payments. The remaining balance of $500 or so each month will be transfered into my reserves account. It gets even better (as you would say). My grand mother has been kind and generous to give me a couple zero coupon bonds. I used one bond to start my business four years ago. The other bond has a current value of $16,000. I took 1/2 or $8,000 and paid down my student loan and I invested the other $8,000. I have already learned about credit cards; they are EVIL. Although, I do carry a small balance for business purposes - $1,000 or so, I am responsible and pay down monthly. Also, I have already lowered my two credit card interest rates, I always try to get them lower.
I want to thank you for your inspiration. I abosolutely LOVE paying myself at the end of every business day. Also, thank you for giving me the courage to sell the bond and pay down my student loan. It was not making sense to me and your system valided my thoughts. I am on my way to building an empire of my own. Being a millionaire is not out of the question. I am very passionate about what I do, I love my work and never really feel like I am working; My business is about making a positive impact of the lives of young people, sound familiar?
- Jennifer
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January 19 2005
Dear David,
I know it's not a coincidence that I saw you on Oprah's show earlier this year. I've never been so exited about a finance program as I am about this one.
The next day I found your book The Automatic Millionaire--it was so exciting. I relearned the values of time and money. The following Monday I went to the bank and found out more information regarding AUTOMATIC Transfer, and I feel so good.
I am 27 years old now; I wish knew this 6 years ago when I had my first job. But it's ok. Better late than never right? Now I'm planning my retirement. Again, thanks a lot David. May God bless you with more wisdom.
Regards,
- Sri Hartati Hartati
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January 19 2005
Hello! I just finished reading your book and it was a revelation to me! I have actually very little debt, and NO credit card debt! But my employer does not have a retirement plan, and I was worried about how I was saving for retirement. I have been maxing out a Roth IRA since I was 29 (I am now 32), but I was worried that would not be enough. So I set it up with my bank that I will be AUTOMATICALLY depositing $250.00 every two week from my checking account into a money market savings account. I still have work to do, but your book is getting me back on track!
- Kevin McElroy
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January 19 2005
Many times I have been short of cash; it's not until I have set up a forces saving plan though either a mutual fund or bank account savings.
I have the most success if I send the money away to a mutual fund and don't even think about the month to month dollar amount. It's a time honored saving method that has resulted in $3500 in one instance and $4100 in another.
Usually I make it a monthly contribution for a goal in mind, but then life happens and I need the cash. I have repeated this process time and time again and now have done the same with the Roth IRA with accumulation of $28,000 over 3 years including some rollover money.
I learned that time honored savings leads to better control of everyday money situations.
- Keith Childs
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January 19 2005
Dear Dave,
Wow!!!, your book was an eye opener. I have read your entire book and have put into practice every aspect of it. I have been discussing every part with my husband and together we have since opened a money market account and a roth IRA. We are looking forward toward our retirement in 12 years and I believe we will retire millionaires.
Thanks for your advice,
- Jennie De Lamare
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January 19 2005
Thank you for you book! I've completely changed my way of looking at money. Thank you. Thank you...
- Jeff
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January 19 2005
I read David's book The Automatic Millionaire. I immediately increased my 401K deduction at work. It is only 4% but, I will increase it again when I get a raise--my raise will go into the 401(K). I am going to purchase the books and give to my 2 married children. Thank you for a GREAT BOOK. I have read many but, David's has been the most helpful. I got inspired by him. Incidently, I have paid tithing for years!! Thank you.
- Jeff Manley
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January 19 2005
I was gratified to read that I was already embracing some of the ways to stay out of debt and pay myself for our future. I'm 48 now, and for many years, I struggled to make ends meet. About 10 years ago, my company made a matching 401K available, as difficult as times were, raising 2 kids with previous credit card debt, we set up an automatic deduction that equalled the amount my company was willing to match. It was only a couple thousand per year, but at that time, it seemed like alot. It didn't take any time at all to realize we didn't miss this contribution. After the first year, we increased by a few percentage points, and still seemed to get by. A few years ago, when mortgage rates were at an all time low, we refinanced our home at a lower rate, took some of the equity to erase our entire credit card debt, and still reduced the years on our loan significantly. Next, we set up an automatic deposit to our savings account. I still use 1 credit card for work expenses, but we pay it off in full each month. We are on our way to a better future, but I only wish we had started sooner.
After reading your book, we have increased our 401K to help make up some time. But the best news is, I was able to convince one of my younger employees to learn from my mistake. He is 30 years old now, just recently married, and in better financial shape than I was at that time. He is now taking going to take advantage of the benefits our company has to offer, do it automatically, and be on his way for a financially secure future. I'll be OK, but he should be great. There's no better gift I could ever give.
- Hugh Higgins
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January 19 2005
David, David, David. Can I just say that you have made a world of difference in my life now and forevermore. Before reading "The Automatic Millionaire", I was lost financially. I had an idea as to how to be financialy free but I wasn't really sure how to execute it. Your book detailed everything out for me. And it was so easy!! I've been on an emotional high ever since. I'm 24 years old, single, and I just entered the job force with a corporation. At first I was just putting my money in a savings account and not making much interest, and I was only contributing 4% to my 401K. After reading "The Automatic Millionaire", I immediately opened up a Money Market Account with ING direct and I am maxing out of my 401K. I'm also going to open up a Roth IRA and max that out, too. I'm also saving money for my "Dream Fund". I'm so incredibly happy financially right now and I owe it all to you. Everytime i go into a bookstore (which is almost five times a week) I highly recommend your book to the customers and every single one of them buys it. I tell them that they can't go wrong with "The Automatic Millionaire", and it's true!! So thank you David. Thank you for the million.
- Diana Nortey
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January 19 2005
I have just finished reading The Automatic Millionaire after seeing David on Oprah. I have already figured percentages for our retirement, emergency money, and credit card debt. I even called and got my interest rates lowered. Thank you!
- Lucinda McConney
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January 19 2005
I want to thank you for your book Smart Women Finish Rich. Its my bible next to my bed! I reread it every time I get off track! I've gone from 2.5% all the way to 19% of my pay in a 401K. I wish we could get my husband to do the same (6%). I have only worked and had a 401K for about 10 years but it is growing every day. Also, I started an IRA Roth and savings account. Never thought I could save for retirement and go on my dream yearly vacations but we are doing it. Just bought my husband his dream boat. Thank you. Next we work more on the credit cards!
Thank you,
- Karen Lombardi
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January 19 2005
My name is Stephen and I am on my way to becoming an automatic millionaire. I am a big fan of personal finance books, and I always believed that keeping it simple is the best way for the average working guy and girl. Your book is a simple no-nonsense approach to becomming wealthy and living a life of freedom instead of debtor's prison. As of today I have no credit card debt, $100,000 in my 401K and according to my calculation, my $84,000 mortgage will be paid off in 6 years. I never believed in a budget. The budget is why, in my opinion, most people around me fail. I think that your approach is the only real way to go. No hype or fake promises, just a steady road to wealth. I must admit, not everything is automatic right now, but the main things like my 401K and my mortgage are. Every year I look forward to increasing my wealth and living life on my own terms. Thanks for such a great program, I only hope most people follow it and experience the success I have.
- Stephen
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January 19 2005
I first read your book at the public library. I had to have it for my own so I bought " Smart Women Finish Rich." We being medium income were not really spending money on lattes, that was a laugh. We do throw away good money though on TV Cable, and sometimes impulse buying. I'm still working on that. What your book really helped me with was finding my inside values. And spending my money to reflect them.(I have to buy another book because, I give everyone a book, because I wantit to help them the way it has helped me.)You also helped me to get organized.Your section of important papers to keep helped me to getr rid of alot af garbage. Budgets may not be for alot of people but I can't get by without them. Thanks for all of your advice. I bought your book "Smart Couples Finish Rich" and schemed through it before I gave it to my son and daughter-in -law. I liked it too. I bought "The Automatic Millionaire." It has helped me become more organized about my spending because I really have to think before I touch my money; It last longer in a savings account than it does in a bank.I now pay my modelhome payment automaticly and my water,and electri. I need to get my land payment automatic too. Oh yes my savings is automatic. I want to figure out how long it will take to pay off my model home but i couldn't get to the amortazatijon tables when i tried . I'm not very computer orientated yet. I'll try again some other time.
David you have given me the tools to do something about my future. I thank God for giving you this talent and the heart to want to bless others. You and your sweet little family are in my prayers.
- Jonette Hickman
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January 19 2005
David,
Thank you so much! I always thought I had control and knew what to do with our money, but I really didn't. My wife was only contributing 6% into her 401(k) and 8% for me. We had all of our savings earning only .65%. After reading your book, we moved 6 mos worth of joint expeditures into a money market acct, earning over 2% (and only going up from here). I upped my 401k contribution to 10% and my wife and I opened up 2 seperate Roth IRA's for retirement, maxing out on them by automatically deducting money every month. We are only 27 years old, we own our own home, and are on our way to financial freedom.
Thank you!
Jim and Kim
- James & Kimberly O'Hara
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January 19 2005
This story is not so much about my success as much as it is about someones non-success.
I just completed reading your book "The Automatic Millionair". I have read and reread it. I have also started to take action as well. I have increased my 401B plan and am looking into the BiMonthly mortgage plan at present.
What this story is really about is about someone I work with who didn't do much to prepare for retirement. I work in a hospital and was surprised to see a nurse working that had retired back in November. I asked her why she was back. She replied that she had to come back to work because she couldn't live on her retirement. When I inquired further about what had happened she went on to explain that she still had a mortgage to pay and that it would not be paid off for many years as she had bought it when she was 51. She is now 66. She also explained that she only had $43,000.00 in her 401B and a small pension that was provided to her by the hospital. I could not believe it! All that you said in the book about being prepared became reality for me big time once I heard her story. She admitts that she should have added so much more to her 401B years ago and she also wishes she did not have the mortgage payment that she still has.
By the way she is only now enrolled in the Bimonthly payment plan. I must say I was defanantly never more committed and motivated to sticking with my goals than I was after hearing her story. I do not want to end up like her. She has no real hope of enjoying her retirement any time soon. Now I truly understand what I need to do. Thanks for all of your terrific common sense advice. I'm working on my husband as well to get him on the same page as myself. Really enjoyed your book.
Looking forward to my future,
- Jeannie Weiner
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January 19 2005
I have read The Automatic Millionaire (loved it) and Smart Women Finish Rich and the workbook (still reading). I have recently sold land and promised myself I would get our family financial situation organized. My husband and I have never ever given thought to this. We would get money and blow it all. Well before we sold this land we were in dire straits, we had no money. We lived on so little and could not pay any bills. I vowed if we could turn this around I would never let this happen again. That is when I bought your book.
Well we recieved the money from the land and as soon as I did, I sat down and paid over 40 bills, 3 which were credit cards, and paid them off. I no longer have any credit cards. I paid all of our insurances for the year. I paid our taxes. It was the best feeling in the world. I bought Automatic Millionaire 3 days ago. It was the best thing I have ever done for myself. In those three days I have read the book, started my retirement account (fully funded for 2003 with $3000), started my rainy day account with a goal of 4 months worth of expenses, picked a charity and will start that, all automated! I cannot tell you how proud and happy I am of myself. A year ago I was another person.
I cannot thank you enough for all you have done and this is one thing I will stick to for the rest of my life. The latte factor has changed alot for me. As a matter of fact, I share it with anyone who will listen. This is the first book I have ever read that has made a difference in my life (and that I read from front to back!)
- Julie Lapier
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