Get Motivated By Success!

Check out this amazing success story I received from Julian Smith who decided to take action and apply the strategies in Debt Free For Life to change his life forever. It’s stories like this that keep me doing what I do and I hope inspire you to better your own financial life.

“Two years ago while flying from California to Charleston, S. C.  I purchased David’s book Debt free for Life. This book ended up an epiphany for me. I had been sick with thyroid cancer for years undiagnosed and done a flip house and had charged up to $75,000 in debt. Spending thousand of dollars trying to find a cure for my illness and charging all this debt on a flip house in a bad economy. I was lost on how to get out of debt. After finding out what was wrong with me and getting the proper medical attention I was back on the track. Finding David’s book truly helped me get back in financial order.

I gathered all my credit cards and did a spread sheet and began paying off my debt using your DOLP system. This strategy paid off!  Now two year’s have passed and all my credit card debt is paid off ($75,000!!). This was a very difficult time in my life and I did not want my family to know the situation with my debt. The stress of all that debt is gone.
 
My next goal is to pay off all my mortgage debt. I plan on using David’s strategies on paying down the debt and get free of all that debt and enjoy the rest of my life. I would recommend that all college students read this book or anyone having financial problems. It is truly life changing. Last week I read the book for a third time and went to the chapter on web-sites and free money. Well! I found an old insurance policy that was not returned to me and found money for 14 friends and family members. I have told many friends and business associates about the book.  I look forward to meeting David in person one day to personally thank him for his help!

Thank you!

Julian Smith”

Share YOUR success story with me and help motivate others to Live and Finish Rich by CLICKING HERE 

Live Rich,
David Bach

Advice for Holiday Shoppers 2012

It’s time to Shop Smart during the holidays.  Watch this short video http://bit.ly/QsblUw where I share my thoughts on the economy, this retail season and how to “not go over budget” when spending for the holidays.

I did this video as a part of the tour I just did for Kmart and Sears on the benefits of Layaway. Check out Kmart layaway here http://kmrt.us/QeTVsT and Sears layaway here http://bit.ly/SYxhZt

Enjoy the video.  Let me know…will you spend more than last year or less?

Live Rich,
David Bach

5 Areas for wealth and business growth

Check out this awesome video my good friend and #1 NYT Bestselling Author, Brendon Burchard just shot.

In the video Brendon says, “Most people aren’t in the ‘wrong business,’ they’re in their business wrong.” This is so true, and NOW is the time to fix it.

What does a high performance business look like? What should you be focused on to generate more personal wealth and business revenue?

Watch Brendon’s video: 5 areas for wealth and business growth:

Developing excellence in these areas is the fastest path to real wealth. And Brendon and I are so excited to teach you how to 10X your business and personal wealth at our BRAND NEW event 10xWealth+Business. It’s going to be incredible.

You guys have been asking me about a live event for the past year and here it is: 10xWealth+Business, November 1-4, 2012. I’ll be speaking there and training on my latest personal wealth strategies — these are must-knows for this economy. I cannot wait to be with you and teach you LIVE, but you must take action NOW because there are less than 100 tickets available!

CLICK HERE to see Brendon talk about the event and register!

PS: special bonus—when you register you get to bring a friend for free!!

Live Rich,
David Bach

Start Smart, Finish Rich

I just had a New York Times bestselling author in my house. We did a quick interview for you. I think you’re going to really like it. Its about your personal wealth and business revenue.

If you haven’t heard, I’m doing an event called 10xWealth+Business. Its incredible! Details are in the VIDEO. 

Live Rich!
David Bach

3 BASKET APPROACH TO FINANCIAL SECURITY

My grandmother used to say that you should never put all your eggs in one basket. She was right. As I see it there are three baskets into which you should put your eggs. I call them the security basket, the retirement basket, and the dream basket. The security basket protects you and your family against the unexpected (such as a medical emergency, the death of a loved one, or the loss of a job), the retirement basket safeguards your future, and the dream basket enables you to fulfill those deeply held desires that make life worthwhile.

This three-basket approach may sound simple, but don’t let that fool you. If you fill the baskets properly, you can create for yourself a financial life filled with abundance and, most important, security. In today’s blog post I’m going to give you a breakdown of the 3 baskets- how much you should be putting aside, where the money should be going and how to make it automatic!

SECURITY BASKET:
The goal with your security basket here is to put away “rainy-day money” to cover expenses in case you lose your income. Exactly how much money you need to put away depends on what you spend each month.  I generally recommend to my students and clients that they put away somewhere between 3 and 24 months’ worth of expense money.

Now this 3- to 24-month range covers a lot of ground. What’s right for you depends in large part on your particular emotional makeup. Some of my students simply do not feel safe if they have anything less than two years’ worth of cash sitting in a money-market account. I happen to think that’s a bit excessive, but if that’s what it takes to make you feel comfortable, then by all means make it your goal.

Whatever amount you decide it’s important to put this money an FDIC-insured bank account (not your regular checking account but a separate one set up specially for this purpose). Until this emergency account is fully funded, you should have at least 5% of your paycheck directly deposited into it. If your employer doesn’t offer payroll deduction, arrange to have your bank automatically transfer the money from your checking account the day after your paycheck clears. To learn more check out my appearance on NBC’s Today show where I share my 6 tips for setting up an emergency account.

DREAM BASKET:
What’s a dream account? This is where you save the money that is going to pay for your home, car, wedding, trip to Hawaii, new boat, guitar, ski lessons, cooking school—whatever your dream happens to be. Most dreams require CASH, and because most people don’t have the cash, they either borrow to pay for their dream (whether by putting it on their credit cards or taking out an actual loan), or they never make the dream a reality. In some ways, your dream account is the most important account you will have because living your dreams is where the excitement of life really is. The best way to start filling this basket is to decide upon a fixed percentage of your income that you will automatically contribute every month. I usually recommend people start by investing 3%-5% of their after-tax income. As with your emergency fund, use either payroll deduction or your bank’s online bill-pay service to have a percentage of your paycheck automatically transferred into an FDIC-insured account set up just for this purpose. If your dream is at least three years away from fulfillment, start investing the money more aggressively once your dream savings total $10,000.

RETIREMENT BASKET:
In my earlier blog post I explained the critical importance of paying yourself first—having at least 10% of what you earn deducted from your paycheck and deposited directly into a 401k, IRA, or similar qualified retirement account before the government takes its bite of withholding tax. Ideally, this deduction should total 12.5% of your income (the equivalent of one hour’s worth of work each day). But whatever you can manage, you must make the process automatic. The good news is that payroll deduction is a standard feature of most 401k plans, so as long as you’re signed up, your contributions will be automatically deducted from your paycheck.

If you’re not eligible for a 401k or similar plan and as a result use an IRA for your retirement saving, you’ll have to create your own automatic “pay yourself first” program. Tell the bank or brokerage where you have your IRA that you want to set up a systematic investment plan. This is a plan under which money is automatically transferred on a regular basis into your IRA from some other source (such as a payroll deduction). Most banks and brokerage firms will handle all the arrangements for you, contacting your employer’s payroll department on your behalf and dealing with all the paperwork. (If your employer doesn’t offer payroll deduction, you can have your retirement-plan contribution automatically moved from your checking account to your IRA—ideally, the day after your paycheck clears. Most banks have free online bill-paying services that allow you to schedule regular automatic payments of specified amounts to anyone you want).

I hope this blog post helped you gain a better understanding of the 3 basket approach to financial security and has motivated you to start funding all 3 – AUTOMATICALLY! Please leave a comment below or on my facebook page. I love hearing from all of you!

Live Rich!
David Bach

NBC’S TODAY SHOW – MONEY 911 – SEPTEMBER 19, 2012

If you missed me this morning on NBC’s TODAY show Money 911 segment- be sure to check it out now!  Today on the panel we answered viewer questions about dealing with a low home appraisal and how to stop the process on a short sale. Enjoy! 

Live Rich,
David Bach

DAVID BACH INTERVIEW WITH AUTHOR AND ENTREPRENEUR BRANDON STEINER

Hey everyone.  Happy September!

I just did an amazing interview with remarkable man and entrepreneur named Brandon Steiner.

Brandon, has a new book coming out called You Gotta Have Balls: How a Kid from Brooklyn Started From Scratch, Bought Yankee Stadium, and Created a Sports Empire

Brandon Steiner – David Bach Interview by David Bach- FinishRich

The book is fantastic.  I read it cover to cover in about three hours and loved it.  While the title sounds funny, it’s not what you may be thinking.  It’s actually about how to pursue your dreams, recover from adversity—and raise children with strong values that will benefit them for life!  It really moved me as a parent.

Brandon, owns a company called Steiner Sports Marketing & Memorabilia, Inc., one of the largest sports memorabilia companies in the world.

Last year, he made my dream come true—when he took my son Jack on a tour of Yankee Stadium, and had “second base” hand delivered to his seat at the seventh inning of the game!  This was Jack’s first time at Yankee Stadium, needless to say—not your normal first experience at a baseball game.  He’s one lucky kid, and I am one lucky daddy!

This interview is one of the best I think I have done in a year—and it’s my gift to you for being a member of the FinishRich Community!  Enjoy and please share your comments on how you liked it.

Oh…and if you haven’t “liked” me yet on Facebook—come join me (we just went over 25,000 “likes”—would love to see you there)!

Live Rich!
David Bach