Visit msnbc.com for breaking news, world news, and news about the economy

If you missed me on NBC’s Today Show – Money 911 make sure to watch the segment above! We answered questions about what to do if you’re marrying someone with a poor credit score, how to contribute to your 401k when your employer offers a match, and when it’s appropriate to use your spouse’s Social Security benefits.

Plus, I had the chance to stick around after Money 911 to do a Live Web Chat on Today.com. Thank you to everyone that joined me, there were so many AMAZING questions today.  If you missed the chat make sure to read the archive HERE  to see if I answered a question that could help you.

Here’s one of the questions from the Live Chat this morning. (Click HERE for the Full Q&A!)

Jennifer asked:

“My husband and I are 30 and because we were in graduate school most of our 20s, we are just starting to save money. At what point in life does it make sense to get a financial planner? How much should a financial planner cost?”

David replied:

“I think the sooner you get a financial planner the better. With that said, you should read up on investing before your hire one so you know what questions to ask and you are prepared better to screen a good advisor from a bad advisor. Read Smart Couples Finish Rich, before you hire a financial advisor. In this book I also layout how to hire and how to pay a financial advisor. The cost to do a basic financial plan is around $500 to $5,000 depending on how detailed it is. Then there are costs to work with the financial advisor. Most advisors today charge a flat fee on assets of around 1%. You can also hire financial advisors by the hour. Hope that helps you get started! Lastly before you hire a financial advisor check out their background online by visiting the NASD website and make sure there are not any complaints or legal issues with the advisor.”

Hope this helped!

Live Rich,
David Bach

Ok, I did a special video in my kitchen about losing weight.

No, I’m not switching fields, in fact your money and your solid financial future are more important to me now than ever.  And in a later video I’ll share with you how me losing weight, and how I did it, has a common thread on how to protect and grow your finances.

January 1^st I shared that one of my New Year’s resolution was to lose 15 pounds.  I’m not there yet, but as I type this I have lost 13 pounds in 27 days! 

I’m pretty psyched, as I really needed after the holidays to lose this weight.  Maybe you can relate? 

Most importantly I feel so much better.  My energy is up, I’m sleeping better than I have in years, and my pants aren’t tight.  And vainly, my face looks thinner on the Today Show!

So check out the video, and see what I have been making at home in my kitchen to lose this weight.  And there is nothing to buy here. 

I’m truly just sharing a 21 day cleanse called The Clean Program  that just worked amazingly for me.

You’ll see that I am clearly not the next “Martha Stewart”.  It was however really fun to shoot this video, and I hope you enjoy it.   

Live Rich,

David Bach

If you missed me today on NBC’s Today Show – Money 911, make sure to check it out now! It was an amazing morning we answered questions about how an adult can go back to school and receive financial aid, what to do with your credit cards once you have paid them off, and the best way to get rid of timeshares you’re no longer using.  

I ALSO had the pleasure of meeting Henry Winkler. Some of you may know him as Arthur ‘Fonz’ Fonzarelli. This was such a coincidence because I literally just introduced my son Jack to Happy Days and MacGyver (he was an executive producer for the show.)

He was on the Today Show, promoting his new children’s book series called “Ghost Buddy”  for middle school aged kids where the characters in the story deal with bullying and a blended family. Watch his interview above and check out our together picture below!

Live Rich,
David Bach

After ranking top 3 in GoBankingRates’s Favorite Financial Expert of 2011 Poll (by the way, thank you again to all that voted!) they asked me to answer the question: “What’s the number one mistake people make with their money?”

So, instead of just giving a plain, vanilla, written answer, I rolled up my sleeves and shot a video so I could show you what I believe is the #1 financial mistake out there and how you can avoid or fix it in less than an hour!  In this video I walk you through how you can set up a system that guarantees you won’t have spent all your money on other things before you get around to putting your hard-earned dollars where they are supposed to go—to ensuring a richer future.

If you follow the action steps in this video and use the diagram that I show you, you will truly have a foolproof, no brainer, “set it and forget it” financial plan that, I promise you, will work! The plan to avoid this #1 money mistake is based on my New York Times Bestseller, The Automatic Millionaire and is updated for 2012. So, as I said watch the video, follow the diagram, it’s easy and, YES YOU REALLY CAN DO IT – so GET STARTED!

Hope this video helps you all and remember to let me know how great you feel once you “MAKE IT AUTOMATIC” by commenting below or on my Facebook.

Live Rich,
David Bach
 

If you missed me on this morning’s NBC’s Today Show, Money 911 segment, make sure to watch it above, we answered questions about paying down debt, government grants, your FICO score, and most importantly borrowing from your 401k.

I have been seeing more and more questions about borrowing from a 401k these past few months on my Facebook page, on Money 911 and during Live Chats. So I thought it would beneficial to give you all a quick lesson on the topic and expand on my answer from Money 911 this morning. Watch the video I did and let me know if you found the information helpful by commenting below!

Live Rich,
David Bach

Visit msnbc.com for breaking news, world news, and news about the economy

If you missed me on NBC’s Today Show –  Money 911 make sure to watch the segment above! We answered questions about what to do with store credit cards, how to juggle school loans and medical bills, and much more.

Plus, I had the chance to stick around after Money 911 to do a Live Web Chat on Today.com where 17,000 people joined me! I answered tons of AMAZING questions that I really think could help you. I answered questions from how I feel about the Market in 2012 to how to protect your family with life insurance. So, if you missed it, don’t worry you can read the whole thing HERE. Also,  make sure to watch the behind the scenes video I did below!

        Click HERE to get access to the Live Chat from Today.com!

Live Rich,
David Bach

Me at the Live Chat for Today.com

Visit msnbc.com for breaking news, world news, and news about the economy

Check out my latest video from Today.com where I discuss the best short term investing options!

Question: My Husband and I are saving for a new home. We want to know if there is a good, secure short-term option for investing: something that won’t freeze up our money for more than a year and isn’t risky, like stocks.  

Your Advice:
-  Open up a savings account with the highest interest rate possible
-  Verify that the account is FDIC insured and penalty-free
-  Don’t get tied up into a multiple year CD
-  Go to www.BankRate.com to compare rates all over the country.

Hope this info helped you!

Live Rich,
David Bach

Visit msnbc.com for breaking news, world news, and news about the economy

Can you believe it? Today was my 100th segment on NBC’s Today Show! If you missed me this morning on Money 911 make sure to check it out now! We answered questions about investing, emergncy funds, credit scores and using your 401k plan for home improvements. 

Plus dont’ miss the special video I did below, where I share how YOU can earn 3% on your money in 2012! 

Enjoy!

Live Rich,
David Bach

Visit msnbc.com for breaking news, world news, and news about the economy

Check out my latest video from Today.com!

Question: I have good credit and have opened another credit card recently to get the travel rewards. I now have 5 credit cards open, but all with zero balances. How manycards is too many? And will my credit score be impacted if I close one or two of them?

My Advice:
- Five credit cards is too many
- Closing credit cards may impact your credit score
- Keep the credit cards open
- Continue paying them off on time
- If you choose to close one of the cards, close the one with the smallest credit limit

Live Rich,

David Bach

Visit msnbc.com for breaking news, world news, and news about the economy

If you missed me this morning on NBC’s Today Show – Money 911 segment make sure to check it out now!

Live Rich,

David Bach