Your 401(k) Plan: Recommiting to Your Future

nesteggThe Wall Street Journal reported last week on the results of a study conducted by the Employee Benefit Research Institute and the Investment Company Institute on the accounts held by six million workers who consistently participated in a 401(k) plan from 2003 through 2008.

>>The average balance dropped 24% in 2008 (in comparison to the 37% decline in the S&P 500 in 2008…)

>>Over the five years tracked, average account balances for these workers rose about 7% annually, even including the stock-market crash in 2008—thanks, in part, to market gains in the years preceding the crash, but also thanks to workers’ and employers’ continuing account contributions. (This data don’t include market fluctuations in 2009.)

>>The average account balance for these consistent savers rose to $86,513 by the end of 2008, up from $61,106 at the end of 2003. The median balance rose about 11% annually, to $43,700 at year-end 2008 from $25,507 at year-end 2003. (Note: that doesn’t necessarily mean 401(k) investors outperformed the market. The data include worker and employer contributions; that money goes a long way to improving balances, and has a particularly strong effect on smaller accounts.

I hope you stayed consistent with contributing to your 401(k) over the past two years. Have you? A February 2009 survey by AARP showed that nearly 4 out of 10 workers had cut back on the amount they were saving in their retirement accounts and 1 in 5 workers over the age of 45 said they had cut out their retirement contributions entirely!

Giving up like this is one of the worst things you can do right now. If you’re among those who have backed off from your retirement savings plan then you need to hear this:

Given the economic surge that usually follows a deep recession, you couldn’t pick a better time than today to recommit to a wealthy future by saving and investing for retirement. Get back in the game!

Join Me and Gary Vaynerchuk Live on Ustream

Here’s a really fun offer that I’m so excited to share with you. Spend some time LIVE on UStream with me and Gary Vaynerchuk!

My friend—visionary entrepreneur and soon-to-be bestselling author—Gary Vaynerchuk has a brand new book coming out that I know you’re going to love. It’s called Crush It! Why Now is the Time to Cash in on Your Passion and it comes out October 13th.

While meeting for coffee together the other day, Gary and I realized that Crush It! and my new book Start Over, Finish Rich (coming out December 29, 2009) share an amazing synergy. So if you pre-order both books on Amazon.com, BN.com or any of your favorite online bookseller before Midnight on Monday 10/12, you’ll receive an invitation to take part in our live, interactive UStream video chat. (Date and time to be announced.) Together we’ll be taking YOUR questions on business, money, success, brand building and whatever else is on your mind.

Are you ready to go from surviving to thriving?

Over the last year or two, many of us have experienced a lot of uncertainty in both our personal and professional lives. With the struggling economy, we’ve been stuck in survival mode—doing what we can to pay our bills, stay in our homes and keep our jobs. In Start Over, Finish Rich I’m going to show you how to go from surviving to thriving. The truth is that we’re about to experience the kind of opportunity for building wealth that we haven’t seen in decades. But what’s key is that as our economy recovers, you’ve got to be set up to recover with it. In Start Over, I’m going to take you through the ten crucial moves you must make in 2010 to get back on track and recapture your dreams of a richer future.

I call this RECOMMITING TO WEALTH. Gary Vaynerchuk calls it CRUSHING IT!

Gary agrees with me that economic downturns represent a huge opportunity for everyone to get their focus on and start to crush it. In his book, Gary is going to take you through the massive changes in business, technology and society that are happening right now—and how these changes present a huge opportunity to create wealth and personal fulfillment for every one of us. In Crush It!, Gary goes into why building a personal brand though social media is crucial to professional survival and advancement, no matter what your field. Don’t think you need a personal brand? Think again. The reality is that the world is changing at lightning speed and you simply cannot afford to ignore Gary’s message!

Here’s How to Join Us—LIVE!

So here’s the deal. Order both Start Over, Finish Rich and Crush It! before Midnight, Monday 10/12 at Amazon.com, BN.com or any online retailer. Then simply forward your receipt via email to Liz@finishrich.com. We’ll then be in touch via email with the details for the live UStream chat with both Gary and me—where we’ll be taking your questions on business, money, success, brand building and whatever else is on your mind. Hope you’ll join us! (We’ll record it too, in case you can’t make it live.)

And please…feel free to share this offer with your friends!

Until next time..

Live and Finish Rich…Your friend,

David Bach

PS. For more information on Gary and his new book, Crush It!, visit www.crushitbook.com and www.garyvaynerchuk.com.

For more information on Start Over, Finish Rich, visit www.finishrich.com.

What You Need to Know about Payday Loans

Have you ever taken a payday loan? What was your experience? Did you know the average payday loan customer borrows only $325 but winds up paying back $793?! Bottom line: you must know the facts and the costs w…hen it comes to payday loans. Do just about anything else before you turn to a payday loan as a solution to short term cash needs.
[zdvideo]http://video-cdn.abcnews.com/090916_ann_gm_loans.flv[/zdvideo]

The True Cost of Debit Cards

How often do you use your debit card? Statistics show Americans are now using debit cards 20% more often than credit cards. But did you know Americans also rack up about $9 BILLION in overdraft fees on our debit cards – in ONE year!? I just did a seg…ment on responsible debit card use for ABC News.

[zdvideo]http://video-cdn.abcnews.com/090902_ann_gm_debit.flv[/zdvideo]

Sept 3, 2009 – Come See Me Live in San Francisco!

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Dear Friends and FinishRich Community Members,

I’m really thrilled to announce that I’m coming to San Francisco this October to present a special, one-time only seminar. If you’ve ever dreamed of building a career and a business around your expertise and knowledge in your field, you’ll want to pay close attention to this announcement!

For the first time ever, I will be revealing the key secrets to my personal brand building success on Saturday, October, 17th, 2009 at the Experts Academy. I’ll be sharing all that I’ve learned (the good and the bad) over the years and how I turned a single book idea into a successful, prosperous brand with a mission to help millions around the world.

Over the past ten years, I’ve written nine bestsellers, delivered hundreds of paid keynote speeches and have been featured in major media across the country. I want to share the secrets of my success with other eager entrepreneurs and experts who are driven to make a difference in the lives of others with their own knowledge and expertise.

So if you aspire to be a successful published author, speaker, seminar leader, life or business coach, you won’t want to miss this event! I’ll be holding nothing back as I show you step-by-step how I built my brand. I did it and you can too.

Click here, then enter your name and email address in order get more information and details to register.

Becoming a Highly-Paid Expert – Free Webinar Available Now

When you click over to register, you’ll also get immediate access to a free 75-minute webinar titled, “Becoming a Highly-Paid Expert,” created by my friend Brendon Burchard, founder of Experts Academy. It’s chock full of content covering:

The 4 areas of expertise you must master at work (or risk disaster)

The 8 things experts DO (this is why they’re paid so much)

The 11 ways to position yourself as an expert

How experts get paid millions of dollars for their information

Brendon has helped thousands of entrepreneurs and executives turn their life’s story and their strategies for personal and professional success into an expert empire as an author, speaker, coach, and online information marketer. I’m really excited to be working with him on this powerful event.

So, I hope to see you in San Francisco next month! In the meantime, enjoy the free webinar. If you do, Brendon has agreed to provide three more complimentary videos on how to make money as an expert in any field. Just sign in and you’ll get access to those videos as well.

Live and Finish Rich…Your friend,

David Bach

PS. One woman made $15,000 within 22 days of watching this webinar — following just one strategy. Powerful stuff.