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February 7 2008
Mr. Bach,
As a college student, a daily coffee fix seemed like something that was just part of the routine. My friends and I would go to Starbucks or the local coffee joints on an almost daily basis, and I confess that I would spend around four dollars each time for my favorite iced coffee concoction. However, after using the Latte Factor calculator, I realized just how much I was spending!
After finishing my undergraduate studies, I plan to attend medical school, which is by no means an inexpensive proposition. By investing the money I spend on coffee (according to the calculator), in five years I can have an extra $5855 to put towards my tuition. Once this fact was made apparent, I went to my local grocery and bought my OWN coffee and flavored syrup (which, by the way, costs about as much as two coffees at Starbucks, and makes many times more).
Now that I make my own coffee, I can't imagine paying for each cup anymore. Plus, I know that it will always be made PERFECTLY; that, plus the savings on gas and paper waste makes it the obvious choice for the money-minded student or consumer.
Thank you for saving me from some future student loan debt! Your article opened my eyes.
Best Regards,
- Alicia Fuhrman
Waco, TX
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January 22 2008
I use to buy fast food, eat out all the time, but since I have been on a diet I almost always bring my lunch, which consists of fat free yogurt, bananas, and some other fruit. For dinner I usually have a salad that I make at home which consists of healthy greens, veggies, any and all and I use 2 grams fat dressing by wishbone. This is been a total turn around for me as I said I really enjoyed eating out day and night, but I am proud of the changes I made not only in my diet but also in my spending. After reading about your "Latte Factor" I didn''t realize how much money I spend carelessly in a day. My credit cards are almost maxed out but I have decided to refinance and save money with a lower interest rate, pay off my credit cards, make home improvements that will increase the sale of my condo when I decide to sell and invest in an IRA or CD. I am also going to increase my 401k investments. I am 48 and will qualify for retirement at age 56. I need to start doing and stop wasting time as I will need all the help I can get. I almost always buy 1 cup of coffee daily which is 1.40, but I now plan on bringing one from home.
- alice chavez
Hayward, CA
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January 22 2008
I am so very grateful for the insightful information pertained in your "Start Late, Finish Rich" book. Before I started reading the book, I felt lost and hopeless. As a single woman with no dependents, living in an apartment, college loan debt and no assets to speak of, I felt that I wasn't living...just existing! During the time that I started reading your book, I began implementing some of your ideas, such as the "Latte Factor," and I even started participating in my company's 401K (now putting away 16% of my income monthly). Not believing that I had the credit to apply for a home loan, you inspired me to "take the plunge." At least I would be able to see what my current credit score was. Once again, to my surprise, I was approved by one of your recommended lenders (ELoan) ASAP!!! I have closed on my first home less than 60 days and now the sky's the limit!!! I can't stop there. I plan on purchasing my first income property in 6 months to a year. Look @ me!!!?! Who knew I had it in me? Thanks for redirecting the life that I knew that I could achieve. Watch my smoke!! I ain't done yet! Updates to follow. ;)
- Monica Ruffin
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January 22 2008
David,
The Automatic Millionaire and TAM Homeowner were the first of your books that I purchased and I must say it was one of the best decisions of my life. I was fortunate enough to come out of college debt free and instead of buying a nice new car or other young 20-something products your books motivated me to buy a house. After finding my first full time job I bought a condo in a college town just after turning 24!!
I can only imagine what becoming a homeowner so young will do for my future family and my grandchildren and others I will help throughout my life. One of the things I love most about all of your books is that you never forget to mention tithing and the amazing results it can have for the lives of others, and your own. The hole that you give through is most certainly the hole you receive through and I wish more people would take those words to heart.
So David thank you again, if it weren't for you I probably would have bought a sports car like most of my friends did after school but instead I made an incredible investment in a college town that I will be able to reap the benefits from for a long, long time.
I have to admit though I do love chocolate milk. It is my latte factor and I'm not quite ready to give it up just yet!
Thank you!!
- Jake Shellenberger
State College, PA
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January 22 2008
I sure wish I had a success story for you. I did purchase a couple of the books and even an audio series; but I have learned (THE HARD WAY) that I am the type of person that learns best by someone, right there with me; teaching me, showing me, even doing it for me until I get the hang of it. I am VERY sorry to say, I didn't get much out of (ESPECIALLY) the audio "The Automatic Millionaire", except that you might not want to actually SAY "AUTOMATIC MILLIONAIRE" 3,000 times.....we've already bought the book (audio book) it really felt like you were trying to sell me something, instead of TEACH me something????
It DOES sound REAL GOOD, though and I thought I'd let you know that.
Thanks,
- Denise Riedl
Orland Park, IL
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January 22 2008
Hi David,
Thank you so much for "Start Late, Finish Rich" The words at the beginning were so encouraging at a time that I had given up hope, hope that I could ever really live the life I want..the freedom you spoke of really hit home as recently I have realized that I walk around living from the truth that I am a victim of my circumstances! Really that there is NOTHING I can do to change where I am or the choices that I make daily! After I realized this I came across your book "Start Late, Finish Rich" and realized that I had already read The Automatic Millionaire and had done nothing! The definition of insanity right? So where am I today?
Well because of your program I now know where I am and you are RIGHT, no matter how much we (my husband and I) make we pretty much spend every penny and more! SO as I have learned recently I need to stop the bleeding. My goal is to make July a break even month!!! That is how far behind we are...we are working really hard everyday to pay for yesterday and last year and last Christmas!!! Yikes! But as I do this I am 100 percent committed to following EVERY step in your program.
So thanks again for the blueprint to freedom!!!
Regards and be well,
- Cheryl Bagangan
Plymouth, MA
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January 15 2008
Dear Mr. Bach,
This may be quite a stretch, but I’m hoping this letter makes it into your hands. With that said, I guess I’ll introduce myself, my name is Erin Barry I’m 21 years old. Having first picked up your book at the age of 17, with dollar signs in after seeing you on Oprah, I was determined to carry out the plan outlined in Automatic Millionaire. I’m happy to report that I’ve invested wisely and am in good shape for the future, although this hardly skims the surface of what your lessons have given me. With maturity those dollar signs have been replaced by a mission of philanthropy, which wouldn’t have been the case if I hadn’t learned how to apply the “pay yourself first” philosophy in all areas of my life. I was reminded of your lessons a couple of weeks ago I picked up a copy of your book “Start Late, Finish Rich” that I found lying around a friend’s parents’ house. I opened the book to page 297 and read something that sent chills up my spine. You wrote about the latte factor as it could apply to charity. Within that paragraph, a dream I had had just a couple nights before became a solidified plan of action. You know it too, I thought to myself. Everyone has a dollar to give; they just need to be reminded of the power of those dollars together.
In addition to finishing college and working part time in real estate (a passion you played a hand in molding) I volunteer at a homeless shelter once a week playing with children. It’s a wonderful program, and I’m truly honored that these little people allow me to share in the rare moments of joy they experience due to a life they had no say in creating. I’m fortunate that the program that I volunteer for, which places volunteers throughout Massachusetts homeless shelters for the sole purpose of playing and engaging these young minds, is able to supply books for the common play areas. I realize this is not the case on a nationwide scale, therefore after reading page 297, I realized that the dream I had a few nights prior was nothing less than irresponsible, without action to bring it into reality. I’ve decided to start a website where a two dollar purchase of space to write your name, link to website, or advertise for your company would raise enough funds to send a box of children’s books to over seven hundred homeless shelters throughout the US. My half million dollar goal would be enough to give 50,000 homeless children a possession, their first in most cases. The importance of books in a communal play room cannot be understated, but to give each child something to call their own, books in particular is my goal. The bond that is created when a child plops down in your lap eager to flip the pages wherever they see fit, regardless of the progress made on that particular page, is nothing short of magical. Those that I’ve told of my goal are weary, saying I’m asking for far too much to be done with far too little of a price tag. Thankfully, I tend to be relentless and put the website up two days ago. 250,000 painless latte factors is all it will take I hope to see this plan rise above the confines of demographics; to see a little given by a lot, instead of the reverse.
Yesterday I attended a women’s breakfast in Boston put on by the organization I volunteer for, Horizons for Homeless Children, there I had the opportunity of a lifetime to listen to Dr. Maya Angelou speak. She told the room of 1600 women, myself included, that her hope is for us to look in the mirror and see what we truly are, rainbows in the clouds of others. She went on to tell us how she stands before us the woman she is today, only as a product of the rainbows in her clouds. At the very least, I hope to get across that you are one of the rainbows in my clouds. A ray of hope that has inspired me to achieve what I know is achievable, reminding myself that you know it too.
Around the same time I first picked up the Automatic Millionaire, I lost my father. In doing so gained the strength and desire to deplete every ounce of potential I was blessed with; to leave this earth with my tank on empty, because what echoes my soul the most is knowing his was still full. I understand your mail may come in truckloads, and perhaps it’s even a cliché to note that, but I just wanted to say thank you. Thank you for not pleading ignorance to your purpose in life, because if you hadn’t been a rainbow in my clouds I may not have had the courage to act on mine.
In gratitude,
www.LittleSpongesDrive.org
"If one is lucky, a solitary fantasy can totally transform a million realities."
- Dr. Maya Angelou
- Erin Barry
Worcester, MA
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January 15 2008
My husband and I were up to our eyeballs in debt, making good money and really watching our latte factor, but still paying for mistakes from our past (run up credit card bills, car loans, student loans, a HUGE mortgage, and loans from friends and family), it was horrible! We were slowly making progress on our debt(REALLY slowly), but we listended to Davids advice and did whatever we could to dig ourselves out of our financial hole.
One thing David said was that becoming landlords is easy, and really helps to put you on the path to financial freedom. We didnt have the money to buy another house, but we did have a third bedroom in our house that we were just using as a junk room. We decided that we shouldnt wait to become landlords just because we couldnt afford to buy another house, so we put an ad in the paper and rented out the room to a university student for $500 a month not including groceries. After all the extra bills from having our tenant here are paid, we still have about $400 extra dollars a month to use to pay down our debt. In only 4 and a half months, we have seen such a huge difference in our financial situation, its really inspiring to see our debt being reduced so quickly. When you add together the money that we get from our renter and the money that we were already using to pay our debt down, we're paying almost $900 a month! Within a year we will be halfway there, and in two years when all the debt is gone, we are going to take the money that we were using to pay it down and save it as a down payment on an investment property.
Our best friends were in the same situation as we were, except they had two kids and lived in a 3 bedroom. They talked to their kids, explained the situation, and the kids agreed to move into the same room for a year so their parents could make a dent in their debt. Because they live in a ritzier part of town, they are able to charge $800 a month for their exta room, and they also are in a way better financial, and consequently, emotial state. Thanks David, your words of wisdom and encouragement really helped both our families
- Megan Wilson
Victoria
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January 2 2008
David.
First off, I am a Chiropractor with 2 kids under the age of 3. In 2005, I was saving some money, but was obviously wasting way too much before I read your book, The Automatic Millionaire. You see, although my wife Jackie and I own a home, we were simply just paying interest on it and had very little in our emergency fund. We also kept using my college loans as an excuse for not putting money into a ROTH or SEP Ira. Then, I was recommended your book and started watching you on t.v. and then saw you at the learning Annex. My wife and I the day we read your book started "The Automatic Millionaire". Since then in 1 1/2 yrs, we have maxed out both our Roth's, invested 15,000 into a real estate deal, put 500 a month into another online savings account at 4.2%, pay extra on our car payments each month, pay an extra 500 per month on our mortgage, and have eliminated all credit card debt. We dont know where this $40,000 or so came from but it is safe to assume our latte factor was a bit out of control, and we dont even drink coffee!! So, my advice is this "Money does not make you wealthy, it is what you save and do with your money to have it work for you that makes you wealthy." So, even a doctor needs advice and David, I want to thank you for making us FINANCIALLY HEALTHY.
- Dr. Darren Kreitman
Plantation, FL
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January 2 2008
I picked up your book last weekend at work when we were slow, and started reading. I finished it by the next day. Now I'm currently reading "Start Late, Finish Rich".
I never really thought about my Latte Factor. My wife and I are careful about spending our money, and I assumed we were living and saving the best we could.
Well, today I got to thinking...I'll just do it for fun. So, I sat down and figured what we spend each month on certain unnecessary things, and here's what I found:
Text messaging between our 2 phones was about $16 a month. Insurance on our phones was $14 a month. "Premium" cable service (a few extra channels) were costing us $28 a month. Also, we take $25 per week out in cash to use on whatever we want. If we reduce that amount by only $5 per week, we'd save $520 a year.
All those things combined (and I honestly don\'t even think we'd miss them!) will save us over $1200 per year. For newlyweds saving for a house, that's a lot of money!
I appreciate your sincerity. You sound like you're really pushing for me, and everyone else to become financially free, and to be able to enjoy life without worry!
When I retire around the age of 50, hopefully I can devote some of my free time to counseling young people like myself, helping them to become Automatic Millionaires just like I'm going to be!
Thanks David!
- Cameron Ziegenfuss
Bellevue, NE
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December 20 2007
Hi,
I recently found myself in a finacially impossible situation. I went from being married to single in the blink of an eye. my expenses stayed the same but my household income was now less then half. I've never been money wise but my best friend Jyll is. She took me into her home and helped me to pay off my immediate debts to avoid anything else going into collections. part of the agreement was I had to read her money books (which I dreaded more then cleaning!)I am now almost done start late, finish rich and I can't wait to read smart women finish rich. What started out as something I had to do has become a life changing experience.
If you ever come to Nova Scotia I will definitly be buying her tickets, and I'll even go with her.
- Mel Donovan
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December 17 2007
Me and my wife Deborah who have been dating since Apr 2003 and got married in Dec 2005. She gave me the automatic millionaire book just before we got married in Jul 2005. This book changed our life. We were and still are two people madly in love with each other. Although we had no finincial plans in life and retirement was not even on the radar. Both of us had good jobs but we were living pay check to pay check with no saving. Reading this book was a wake up call and simple to understand. I first kicked myself for not starting early. I was 35 and my wife was 36 when this happened. We then started following Mr. Bach's advice and now we not only have a house we have started a emergency fund and also have some savings in just one year after we got married. We are now two exicted people who look forward to hit the million mark and aim to be debt free and have saving fo retirement. This month we went a step further and initiated the process to enroll in one to one coaching. We both like to thank you David for making such a huge difference in our life. I wish I had your advice much earlier but still no harm done got it has all happened just in time. Thank you
- Hardeep Gujral
Richmond Hill, NY
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December 17 2007
David, you changed my life.
I haven't said that to very many people in my life, but you without a doubt have saved mine and my familys financial future.
I saw your book (The Automatic Millionaire)sitting in my dads bookshelf two years ago when I ws 20. I read the back cover and then put it down again. I had read finacial books before and let's just say they were more effective at putting me to sleep than a sleeping pill. A couple of months later the book was still sitting there, so I asked my dad about it. He said that it had changed his life, and he had been waiting for me to get to a point where I was ready to change mine before he gave it to me. I decided, what the heck, it couldn't hurt. So I read it, and your advice was actually pretty interesting. Unfortunatly for me, I just didn't want to change my spending habits. I figured that I was young enough that I could start later and just play a little catch up. Man, I kick myself for thinking like that.
Fast forward to two years later, I'm 22, I have no savings, no retirement fund, and I'm in debt up to my eyeballs. My boyfriend and I were earning almost 40 grand each a year, but we owed almost 20 grand in credit card debt, car payments, and personal loans. The icing on the cake was when we found out that we were expecting our first baby (SURPRISE!!). We sat down and talked about it, and we decided that if we were going to be parents, we needed to first be grown ups, so we made the decision to start taking our financial futures seriously. But it was all so overwhelming! We read books and talked to a financial planner, and nothing seemed to clear up for us what we really had to do to get ourselves into a good financial situation.
Then one day when we were cleaning out the second bedroom in our apartment to turn it into a babys room, and I came across your book. It seemed vaguely familiar to me, but I couldnt really remember it. So right there in the middle of a room filled with chaos, I sat down on the floor and started to read. Three hours later when my boyfriend found me, I was still sitting there, completely absorbed in your book. Suddenly it seemed that everything made sense! If I just followed your simple and easy to understand steps, we would be ok. As soon as I finished it, I made my boyfriend read it too.
Almost a year later, we have paid off two thirds of our debt, bought a townhouse, started a retirement fund, and are almost done filling our emergency fund!
I may have never met you in person, but you have touched my family's life in a way that only a handful of other people have. Thank you for using your knowledge to help the nation.
- Megan Wilson
Victoria BC Canada
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December 17 2007
My success story is yet to come. But I feel like it is already here. My husband and I are 55 and 54 years old with no debt except for school, and that one is rather large. We own no credit cards. However, we have never managed to save a dime.
My daughter just bought me "Start Late Finish Rich" and it has given me renewed hope and excitement for our future.
We basically have 20 years to do this. I don't really care to be a millionaire, but when I sat down and figured out what we could actually HAVE in 20 years using the guidelines in that book, I was so excited.
Other than my husband and I eating out, we really don't have much of a Latte factor. There are no utilities we can cut, no magazine subscriptions, no health club memberships, nothing like that. But when I figured our "eating out" costs for ONE MONTH it ran up past $650.00! I was shocked. No wonder I never had enough for groceries.
I had recently decided to just pack a 5 dollar bill into savings every time either one of us got a paycheck.
Due to our age, we have decided to make that a "double latte" and we are now planning to automatically put into savings a total of $400.00 per month. Through very simple investment, we should have at least $300,000. in the bank in 20 years. I thought time had run out for having anything saved for our children to inherit.
I am soon to inherit enough money myself to give us a down payment on a house.
I really believe we can do this and look forward to writing you in a year to tell you our true success story. I feel like it has already happened.
sincerely,
- Carol Black
Indianapolis, IN
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December 4 2007
David,
This does not sound like much but it provided some important assistance to me. I recently retired from the US Navy and after some time searching finally got a job working in the Bahamas three weekends a month. I commute from my home in Jacksonville, Florida, to West Palm Beach and then they fly me over for the weekends. Everything is paid once I get on the flight. Thinking about what you said in your book about getting a raise applied directly to me. The salary is ok, @$32,000.00 for about 9 days a month. The only problem was the drive. Just under 5 hours each way. I worked the numbers and when I was interviewing for the job, although I was a bit nervous, I took the leap and said it would be very important to get some assistance for my driving as you can see from the numbers explaining what it will cost me. He gave me an additional $3000.00 on the spot! Thanks so much for your books...! Our first 50 years are full of wonderful memories with lots of travel, experiences and benefits with the family. Unfortunately, I realize it could have been done while saving and getting rich along the way. Now my wife and I are determined to catch up and finish rich! We are working on your plan and making changes already!
PS: Oh, and I am using my paid time there, meals and room and board, as a Latte Factor and putting some of that saved money for good use for the future!
- Michael Craig
Orange Park, FL
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November 27 2007
Mr. Bach,
My father gave me "Automatic Millionaire" for my 25th birthday and as a 28 year old I have been able to invest $275 bi-weekly to amass over $11,000 in mutual funds, continue to pay a mortgage, completely pay off my $14,000 owing on a student loan and still have room to pay for a big screen television and a trip to mexico in cash. David, there isn't anything I can say that will thank you enough for the guidance and support I receive from your books when I read them over and over and over again. I even have my grade 7 students talking about RRSP's and saving babysitting and paper route money. Thanks for everything!
- Tyler Gallagher
Ottawa
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November 26 2007
David, I made a lot of positive financial changes in my life since reading your book The Automatic Millionaire last year. I paid off my car($6000),lower my credit debt by $2000 and recently opened a $500CD and an automatic savings account with ING DIRECT. I also opened a mutual fund account with American Century with $500 that I saved and automatically add $100 a month. I will be reading Smart Women Finish Rich in the next few days. Thanks
- Elaine Tejeda
Bronx, NY
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November 14 2007
David,
I would like to thank you for the book "The Automatic Millionaire". I have been saving money for over 10 years using the automatic system and right now I have close to 70,000 dollars in savings, bonds, IRA, mutual funds etc. Without this method I would be no where close. We have taken a couple of hits during the past ten years but we kept going. Take David's advice you will definately see results!
- David Marshall
North Charleston, SC
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November 14 2007
Hi David,
I found your book in the National Library in my town in Singapore. I got hooked on the book and took the day off from work to finish reading it... "Start Late Finish Rich". I'm 38 yrs old and my wife is only 24. I'm sharing this book with her and we are seriously going to plan to Spend Less, Save More, Make More. Renting out our flat.. and Live Rich thereafter. We are taking action right now.. Thanks a Zillion!
Samat
- Samat Matsuari
Singapore
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October 29 2007
David Bach,
I wanted to thank you for your book, Automatic Millionaire. My sister gave me the book for Christmas close to one year ago. After reading it herself, she felt it necessary to share with someone about to enter the work force. My only regret is that I wish I had read the book sooner. I read it in May of this year while on vacation before entering the US Army as an Infantry Lieutenant. I could not stop myself from devouring the book while on vacation and penning notes in the margins on what my plan of action would be. Upon return from vacation I followed your steps all before my first day of employment. 5 months after beginning my duty to the Army and enacting your fool proof plan, I am confident to say that I am well on my to financial success. I have managed to pay off my $6,000 student loan, save $2,000 for retirement (and will reach my goal of maxing out my Roth IRA contributions by the end of the year), possess $1,000 in emergency funds, and possess multiple automatic money market accounts to save money for vacations home and Christmas. I have managed to do this all while obtaining and furnishing my first apartment. I attribute my ability to avoid the debt trap that many of my peers have slipped into to your book.
I could not keep this bundle of information to myself. I passed the book on to a fellow Lieutenant. I have purchased Smart Women Finish Rich and Smart Couples Finish Rich for my girlfriend. And I have already convinced two 18 year old Privates (soldiers) to start saving their money according to the plan you provided. I even made the phone calls to USAA to get them started. I hope to share the valuable information you have provided with my family and my platoon.
In a few months I will be leading 42 of America's finest. One of my duties is to look after them, which includes their financial wellbeing. I plan on sharing the information I have gained from your book with them. If I could convince one of my 18 year old privates to invest, he'll be one step ahead of me when I started at age 21.
Thank you very much. The simple and clear writing style of your book has prevented your book from alienating any audience. Because of that simple style, I am able to share the book with anyone.
- Matthew Nihill
GA
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October 18 2007
Dear David,
I would like to share my success story with you and all of your readers. I'm an immigrant and arrived in this land of opportunity in 2000. In August 2006 after reading your book "The Automatic Millionaire", I was inspired and I read your book day and night. The guidance and coaching you showed me was a tremendous wealth of knowledge that I've never found before. No one tells about finance, let alone about Fico score and et cetera.
I followed your guidance exactly the way you said in your book. When I got pumped up, I told my partner that we could own something. My life partner said "no way and we live paycheck to paycheck". I told him that it is possible if we follow exactly what David showed us. I told him that we could do it-- together as a team. With your guidance finally in July 2006, we purchased our first condo and now we're homeowners.
It's a year now since we became homeowners. Now the best is yet to come. About a month ago, I purchased another book of yours "Start late Finish Rich". Again, I read your book over and over . I was so much impressed with the details on how to get a pay increase.
David, I followed your advise accordingly. Guess what? Recently, I got an increased of 10% for my annual salary. I'm so excited and I want you to know that both me and my partner are so grateful and thankful for your guidance and great coaching method. Thank you David for showing the way and we need more people like you. You're my hero and source of inspiration. Perhaps when we buy the next property I will write to you again.
- Murray Givens
San Francisco, CA
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October 18 2007
David,
Serveral years ago I picked up your book, Start Late, Finish Rich. It took me several attempts to read it, as every time I did I would get into a panic about facing my finances. I finally got through it and started putting the things you suggested into practice. It's now 5 years later -I'm 31 years old, own my own home and aside from my mortgage (which I am working on paying down quickly) am completely debt free.
I recommend your books to everyone who asks me how I managed to pull myself out from under such a huge debt load.
I am not writing to inspire. I'm writing to thank you. Your books and advice have honestly changed my life and have given me a sense of complete control and financial freedom.
- Emily Wood
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October 18 2007
Hi, David--
I'm reading your book--Start Late, Finish Rich-- even though I'm only a third into it, I followed your advice to check my credit card interest rate. I was shocked to see 32% due to a returned check. I called the bank; they agreed to change it back to 19.2% which I still felt was too high. I told about other credit card offers I was getting. The supervisor, to whom I was transferred because the first person said she could not help me. Guess what? the guy lowered it to the current prime rate plus 3%-- Now, my interest rate will be 11.4%!
I followed your tips and voila!
Thank you!
Also, I just bought REIT mutual funds from Vanguard, so we'll see what happens. My investments have been very conservative, so i'm putting some in REIT and Corporate funds, i.e., junk bonds...
- Erick Mata
Los Angeles, CA
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October 18 2007
Dear Mr. Bach,This may be quite a stretch, but I’m hoping this letter makes it into your hands. With that said, I guess I’ll introduce myself, my name is Erin Barry I’m 21 years old. Having first picked up your book at the age of 17, with dollar signs in after seeing you on Oprah, I was determined to carry out the plan outlined in Automatic Millionaire. I’m happy to report that I’ve invested wisely and am in good shape for the future, although this hardly skims the surface of what your lessons have given me. With maturity those dollar signs have been replaced by a mission of philanthropy, which wouldn’t have been the case if I hadn’t learned how to apply the “pay yourself first” philosophy in all areas of my life. I was reminded of your lessons a couple of weeks ago I picked up a copy of your book “Start Late, Finish Rich” that I found lying around a friend’s parents’ house. I opened the book to page 297 and read something that sent chills up my spine. You wrote about the latte factor as it could apply to charity. Within that paragraph, a dream I had had just a couple nights before became a solidified plan of action. You know it too, I thought to myself. Everyone has a dollar to give; they just need to be reminded of the power of those dollars together. In addition to finishing college and working part time in real estate (a passion you played a hand in molding) I volunteer at a homeless shelter once a week playing with children. It’s a wonderful program, and I’m truly honored that these little people allow me to share in the rare moments of joy they experience due to a life they had no say in creating. I’m fortunate that the program that I volunteer for, which places volunteers throughout Massachusetts homeless shelters for the sole purpose of playing and engaging these young minds, is able to supply books for the common play areas. I realize this is not the case on a nationwide scale, therefore after reading page 297, I realized that the dream I had a few nights prior was nothing less than irresponsible,without action to bring it into reality. I’ve decided to start a website where a two dollar purchase of space to write your name, link to website, or advertise for your company would raise enough funds to send a box of children’s books to over seven hundred homeless shelters throughout the US. My half million dollar goal would be enough to give 50,000 homeless children a possession, their first in most cases. The importance of books in a communal play room cannot be understated, but to give each child something to call their own, books in particular is my goal. The bond that is created when a child plops down in your lap eager to flip the pages wherever they see fit, regardless of the progress made on that particular page, is nothing short of magical. Those that I’ve told of my goal are weary, saying I’m asking for far too much to be done with far too little of a price tag. Thankfully, I tend to be relentless and put the website up two days ago. 250,000 painless latte factors is all it will take I hope to see this plan rise above the confines of demographics; to see a little given by a lot, instead of the reverse.Yesterday I attended a women’s breakfast in Boston put on by the organization I volunteer for, Horizons for Homeless Children, there I had the opportunity of a lifetime to listen to Dr. Maya Angelou speak. She told the room of 1600 women, myself included, that her hope is for us to look in the mirror and see what we truly are, rainbows in the clouds of others. She went on to tell us how she stands before us the woman she is today, only as a product of the rainbows in her clouds. At the very least, I hope to get across that you are one of the rainbows in my clouds. A ray of hope that has inspired me to achieve what I know is achievable, reminding myself that you know it too. Around the same time I first picked up the Automatic Millionaire, I lost my father. In doing so gained the strength and desire to deplete every ounce of potential I was blessed with; to leave this earth with my tank on empty, because what echoes my soul the most is knowing his was still full. I understand your mail may come in truckloads, and perhaps it’s even a cliché to note that, but I just wanted to say thank you. Thank you for not pleading ignorance to your purpose in life, because if you hadn’t been a rainbow in my clouds I may not have had the courage to act on mine. In gratitude,Erin Barry, www.LittleSpongesDrive.org, -If one is lucky, a solitary fantasy can totally transform a million realities.- Dr.Maya Angelou
- Erin Barry
Worcester, MA
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October 18 2007
PLEASE DON'T GIVE UP!!!! I know how frustrating it can be to try to save enough for a house, pay off your debt and get approved for a mortgage. Four years ago, my divorce was finalized. I was left with over $20,000 in debt and wasn't making much more than that for my yearly salary. I had my cell phone shut off a few times (I didn't have a home phone), and one of my credit cards had a minimum monthly payment of $160. I was feeling completely stressed out and then I found David's book. It completely changed my life. I started saving for a house after figuring out my Latte Factor, even though I had no clue when I would be able to get one. I also started paying down my debt. In 2006, I completely paid off my $20,000 debt(using David's advice about getting your interest rate lowered). About 6 months after that, I started dating my current boyfriend. We decided to save as much as possible every month (at least 10%). When I tried to get a mortgage, I was turned down because my credit was about 550 and my boyfriend's was even lower. I was devastated. It took 6 months before I got the courage to try again. I was turned down yet again. Then, I went to the FinishRich website, and decided to give Wells Fargo a try. Bill at Wells Fargo called me the next day and I was approved. We put an offer on a townhouse, but a few weeks before closing, the deal fell through and I lost $1200. I was upset, but didn't give up. Well, everything happens for a reason, because we ended up finding a house (instead of a townhouse) in a great area. My company finally got a 401K and I am up to 12%. I got engaged 2 weeks ago, and my fiance and I are closing on our house in 10 days. I finally have my own piece of the American Dream. For those of you who think it is impossible, please don't give up. Sometimes, it feels like you will never reach your goal. In the end, if you are consistent, you will be able to achieve what you set out to do. Thank you David for changing my life for the better!!
- Heather Brown
Matawan, NJ
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