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June 3 2005
David: I have an insight in yout latte factor [you probably have already thought about it]. I call it the cigarette factor, and I use it to counsel my patients as a physician to quit smoking. I read a recent study from Duke Univ. that the true cost of a pack of cigarettes is around $40 when you take into the cost for higher insurance costs, medical care, etc. Therefore, a person who smokes two packs a day, they are actually spending $80 perday; I couldn't afford that.


- Larry Hill

June 3 2005
Dear David,

I recently checked out your book, "The Automatic Millionaire" from my library. After reading it I went to a Border's book store and purchased a 5 CD set, "Start Late, Finish Rich". I am paying bills for my son, who is starting a new occupation of trucking. I was able to cancel a late payment of $58. on one of his credit cards using your strategies!! They did not effect a change of address for 4 mo., hence I've been recieving the credit card bills late each mo. The CD's cost $25, a bargain for 5 of them, and I saved $58. I'm giving this set of CDs to my friends on their birthdays this next year and also a set to my youngest son.


- Jan Kaukola

June 3 2005
I started reading Smart Women Finish Rich last September. Since then I have managed to open up a Roth account and IRA account and have been able to save. It is amazing when you have your money automatically deposited into the accounts, you don't miss it from your paycheck. Not only that, I actually have all of my files organized and know where my money is going. I'm spending less and saving more. I have even started a college 529 plan for my niece and have worked out my budget to the point where I can have my car note paid off by the end of this year instead of 2007. Thank you so much for putting these books out. I can now start planning for the future (buying a house).

- Arnissa Pratt

June 3 2005
I loved your book! It further confirmed the rules of financing I have been living.

I do have credit cards (3) & pay them off monthly. I have cut my credit limit mostly as a security measure. Interest rates on cards have never mattered to me because I always pay them off. I take chunks off of my mortgage with my savings. My mortgage payments are the smallest of any one I know (by far). Your book has inspired me to think again about what net worth I want to have when I retire and get moving on it. Thanks!

- Marylou Tope-Lin

June 3 2005
Thanks for encouraging me in The Automatic Millionaire to start paying myself first. I've taken action and opened up an INGDirect account to pay myself first every month (and make 3.5% interest to finish richer!).

- Dee Long

June 3 2005
My name is Bob, and I work in the health care field. I have just finished Davids' book "Start Late, Finish Rich", and I am highly motivated on becoming a millionare within the next 20 years. This book has given me the clear vision I need to finish rich.

Since reading the book I reviewed my Latte Factor which was Lotto tickets. I was spending $10 a week, that's $480 a year. Also I discovered that with a little work myself I cut out additional expenses such as $115.00 a month for a property mgmt company to manage my condo rental. $30.00 a month for landscaping, $20 month movie club, $15.00 month unnecessary cable channels, $36.00 month bug sprayers (professional). A whopping $240.00 a month in savings!!! For stuff I never really needed. I also am going to cut my cell phone bill by 35% by going to a more basic plan ($40.00) month savings.

I contributed to my 403B plan before but not the max, so now I am going to max that out and also increase my stock portfolio. I also plan to purchase more rental properties currently I have only one (better than none).

I plan on purchasing further Bach books to increase my financial knowledge. This book has given me also the plan to get a raise at work. I was thinking about it before, but now I have a more detailed plan.

Thanks for everything,

- Robert Herzenach

May 27 2005
I am in the beginning days of my success story.I am starting late due to a host of life's challenges and a current latte factor that cost me $200 or more a month. I do have a few very positive financial endeavors going for me and my family, I own my own business which I started from a trunk in my car 10 years ago and I currently have an offer accepted on a one bedroon condo that I can put 20% down on and have the rent cover my costs. I have been looking and found something that has a good location. I got in on Phase one, and now that half of phase one is over the price just went up $3,000 dollars (in one week) I was surprised and then I read about this in your book. I'm getting my husband interested and am beginning to teach my 6 year old adopted twins about saving. I still need to automate everything and I am slowly paying down debt while financing multiple streams of income. I'm looking at a franchise that may work out as an augment to my current business ( maybe make it easier to sell later) and I would like to purchase a condo or building for my business.

Your books are the first financial books that ever worked for me. I tried some investments in Calvert and other funds. My timing was off and I lost half of it. Since I'm fifty I decided to start small and try real estate plus expand my business and turbo charge the aoutomatic payments as you have suggested. Your books keep me going and helped me take the risk to purcahse the condo. Thank you!!!!!

- Janice Schreiber-Poznik

May 27 2005
As I read you book, I thought, well, I already do most of this....I don't buy expensive coffee, cigarettes, etc. And, I will say I have often thought I need to make my saving automatic; however, I had never really sat down and figured out just how much time was really running out. I have always saved, some. I do 401K and spend wisely, but I was still not doing what I needed to do to reach my financial goal. With the help of your book and the various charts, I figured out how much I need to increase my savings/stocks at my age to reach my goal in 15 years. And, I can do it- it's not impossible. I wish I was 27 again, true; but I can still do it at 29!!! I mean 39. That was a slip.

Thanks a Bunch,

- Randy Horn

May 27 2005
I recently listened to your audio of The Automatic Millionaire, I have seen you on Oprah, read Smart Women Finish Rich and am now reading Start Late Finish Rich. Each time I read or reread one of your books I learn something new. I wanted to share with you a couple of my successes along my path to financial freedom.

The latte factor was a biggy. It really hit home how the little things where adding up to be a big thing all combined. My husband and I dramatically reduced our dining out, switched gas stations to a lower cost one, and found several ongoing expenses that were "wants" and not "needs" that we could do without painlessly. Our living expenses have dropped dramatically leaving some income to invest. Before that I took your advice on raising my prices on services provided in my direct mail business. I did a 10% overall increase on services which was years overdue. I was afraid I would lose customers so I had left the pricing alone out of fear. Turns out not a single customer made a comment about the increased costs.

One last thing that I feel is so critical in your teaching is to make savings and investing automatic. Being self employeed it was difficult to stay on course when things would get tight so I would say I would do it next month, it was too easy to figure I could get to it later. When I decided to make it automatic it was just not an option to skip a month here or there and staying on track became so much easier. I am so grateful for the valuable teaching you and other financial advisors are sharing with folks like myself, I just hope that someday soon this will become a regular part of our children's school education. It seems a shame to teach our children how to become productive working members in society without teaching them how to save, invest and stay out of debt in order to live a financially free lifestyle. Thanks for all your easy to understand and to the point help.

- Pam Arnhold

May 27 2005
Dear David,

Here is one latte factor that too many people bypass, mostly out of fear. The home-done haircut. Since I was never satisfied with my haircuts that I paid professionals to do I decided I couldn't lose by trying it at home. I browsed the local library and found a hair cutting guidebook with pictures. I literally held up the book in front of me while my 13 year old daughter started cutting following their diagrams. I not only thought my haircut was good enough when she was done - I thought it was great. The real proof of this is the number of compliments I receive. Sometimes more than one compliment per day on how much someone likes my haircut. They often also want to know who cuts it so they can go get their hair cut by the same "professional." When I tell them my 13 year old daughter cuts my hair they are shocked. When I tell them she learned on me by using a library book their eyes glaze over. Now she is 15 and I have her also highlight my hair. I also am not lying when I say she does a better job than the professional who I paid $80 to - but I only paid that one time before I said never again. It costs me $8.64 for a box of highlight and my daughter doesn't even mess with foil or special wraps. She simply drags it through my hair on an applicator that was part of the kit and waits 45 minutes. Again I have had coworkers tell me that they like my hair highlights better now than the first time I had them done (which was by a professional). They don't know it is my 15 year old daughter who is doing a better job than a professional. I am just glad I didn't let fear steal these savings from me. Also my husband refused to let me cut his hair until he saw what a great job my daughter did with mine. Now I cut his. We save $32 per month combined on haircuts which is $384 per year. Add in another $285.44 per year on highlighting savings. That comes to $669.44 per year. My daughter already was beating us both on savings because she has natural long blonde hair and rarely gets her hair cut. Anyway in 10 years at this savings rate I tell my husband we will have saved $6694.40. That doesn't include the interest made on the mutual fund we are investing it in. I want to tell you I stumbled upon your book on audiotape, Start Late, Finish Rich at the local library and am loving it. My latte factor savings today is $29.60. I can't wait until tomorrow! Thanks.

- Donna Ruppel

May 20 2005
Wow! David, I just need to say thank you a million times over!

My fiance and I both read through your book Automatic Millionaire and sat down to discuss our finances and realized that we were paying only the minimum payments on credit cards. Even though we were loyal customers and never had a late payment, they were charing us 18.49% interest!! I was so enraged, that I made my fiance call all the companies to try to lower the rates and close the accounts we weren't using.

One card that we had for seven years and didn't have a balance on was so eager to keep us as customers and get some business, that they offered us as many balance transfers as we wanted with a locked 3.9% interest for the life of the transfer!! All it took was a 20 minute phone call!

We have now consolidated all our credit cards onto two cards, with the interest locked in at 3.9% and 4.9%! What a difference! Now our payments (which are more than the minimum) go to the principal, not just the interest!

We have many more steps to take, but I feel like a burden has been lifted off our shoulders. We can start our life together knowing that our dreams will become reality.

Thank you again!

- Dana S

May 20 2005
A little over two years ago I moved into my van for three months to save up for a home of my own. It worked!! A bit unconventional but I was determined to eliminate the rent.

Yesterday I had to fill a need for a new book and found your Automatic Millionaire Workbook at my local bookstore. I stayed up until 5:30AM reading it. (Fortunately, not a problem for a thirdshifter like me.) I was pleased to find that I had already put many of your suggestions into place.

Besides the strategies you offer, I believe the most useful information I am gettin out of the book is the way it makes me think about myself and why I do what I do. Understanding the emotions and motivations behind stupid financial mistakes is the first step in eliminating those mistakes.

I'm going to shoot for one million in 10 years! I believe I can do it! Thanks for the incentive.

- Dianna Brown

May 20 2005
How to get a SMART raise.
I work for a huge corporation who are extremely tight with increasing salaries. But I refused to give in to my bosses answer that there was no room in the budget for giving me a proper raise. So I told him that I understood that, but asked him how much more he thought I should have, had there been room in the budget. And he told me that I really did deserve a 10% increase in salary. So I turned it around and said - OK, I'll just work 10% less for the same pay. He agreed and I now enjoy 5 more weeks of vacation per year, and I'm still making a great wage. Now my goal is actually to get down to 80% on the same salary and possibly get a second stream of income in all my spare time.

- Tomas Arnewid

May 20 2005
I have been in the military for 10 years. David, I can attest for the millions in uniform that we all make enough to finish rich, we just blow our paychecks every payday on boom boxes and X-boxes. Nevertheless, today I began a new life. After reading your book in a day (yesterday),I opened up a Sharebuilder Roth IRA account (today) in which I plan to contribute $250 a month until I retire from the military. The neat thing about three of my stock picks is that I already use them on a weekly basis - like Kelloggs, Starbucks, Hersheys. I figure, why not invest in what I already consume - for that Latte factor, I can have my Latte at Starbucks, and invest in it, too! Thank you so much, David. You are a Godsend. In the Army, they teach us to take action at once. As you can see, actions speak louder than words, and the immediate action I just took today will reap me millions in the future! Cheers!

- Michael Johnson

May 20 2005
I want to start off by saying that your book has been an inspiration to me in many ways. I had been a single mom for the past 9 years. Maintaining a house by myself was the biggest challenge I faced. Along the way I received some great advice, but nothing as concise as your books. In the last 2 weeks I've read Automatic Millionaire, Smart Women Finish Rich and Smart Couples Finish Rich. I've e-mailed all my friends and told them to run out and buy them NOW! Your writing was so inspirational, I've even been considering going back to school to become a financial planner!

I would like to share one tidbit I learned and took advantage of over the years which may help your readers. My bank manager asked me if I had a Security Basket with my rainy day money put aside, and suggested that be about 3 month - 6 months salary. As a single mom, I nearly laughed my way out of the bank. Instead I listened, as she explained further. Of course, my mortgage was by far my biggest expense. If I lost my job, I would be in serious danger of losing my house quickly. With that in mind, she suggested that I begin prepaying my mortgage. I did this in incriments of $25.00 per week - that's not much more than dinner out for my son and I. For all those dollars of prepayment, I would eventually have the option of skipping payments without penalty if some sort of financial disaster occurred (my mortgage had this privilege). If that disaster never arose, however, the compound interest on the principal I was paying down would save me thousands. From that day forward, I have always made the effort to pay myself first in this way.

I was married in February of this year, and work at teaching my new husband about paying ourselves first. Since buying our house together just over a year ago with a 25 year amortization, we have made double up and increased principal payments to reduce the mortgage amortization to only 14 years! My long term goal is to be paid off before I turn 40. (I'm 33 now).

My husband and I run a successful construction business together, but we don't want to work forever. By applying the principals described in your book, we're planning to finish rich together!

PS: I especially appreciated the fact that your book included advise geared to Canadians.

Keep up the good work!

- Jennifer Kutlesa

May 13 2005
Dear Dave,

Five years ago I had nearly $50,000 in consumer debt. Following the basic plan that you outlined in "The Automatic Millionaire", I am now debt-free. Making it "automatic" is the only way to go. Even my reluctant wife is starting to be a believer.

Please know that you are making a big difference in the lives of so many people.

Thanks & a hug,

- Darin Olson

May 13 2005
I work part time at a library and was able to get the Smart Couples Finish Rich and Start Late Finish Rich books. I thought they were both easy reads and very informative. After reading them I decided to take a look at my retirement funds. At the library, we have PERS which is Public Employees Retirement System which takes the place of Social Security. They take out 8.5% per pay period. I knew roughly what I had in there until I got the statement awhile ago. It was nice. I have been there 8 years, I am 29 years old and have over 10,000 in there already. Pretty nice start. I work full time at a church and I found out that they pay up to 5% of our gross WITHOUT us contributing whatsoever!!! They say, "Here's 5% of your gross. Thank you." Well, needless to say I have matched their contribution and it a little over a year I now have $900.05 in my 403b account. Oh yeah, all I have contributed was $78 so far.

Thank you for your books, web site and everything. Hopefully one day I will see you on a beach, retired!!

- Daniel Oreskovic

May 13 2005
Hi,David! You always say that you want to hear from your readers so I'm submitting this story to update you on how things are going for me. I still follow the path laid out in the Automatic Millionaire but I'm also following the good advice in Start Late, Finish Rich. I already have 2 properties and am working on acquiring a third. In a few short weeks, my car loan will be gone and I can concentrate my full efforts on paying down my mortgages. I still contribute 10% of my gross pay to my RRSP and am happy to report that retirement in my early 50s looks like a distinct possibility. My credit cards are paid in full every month and I'm using bi-weekly payments to rid myself of the mortgage on my principal residence as fast as I can.

Please keep spreading the message of how to finish rich!

- Camille Audain

May 13 2005
Reading the Automatic Millionaire made me realize how much more I could be doing for myself. I know my latte factor is probably not much different from more than half of America. It's always so easy to run out at lunch time to grab a bite to eat in the Chicago area. My husband and I both were eating out 3-5 days a week. I would nag him about eating fast food and buying snacks at gas stations. Especially because he spent about $6 to $10 daily at restaurants and I only spent about $3 to $6 at the cafe and deli at a local grocer, so that made me more budget conscious. Not!!!!

When I realized how much money we were spending on lunch, we vowed to incorporate everything that we would buy outside of our weekly groceries into our grocery trip and pay a fraction of the cost that convenience stores charge for individual portions. Once we got into the groove of making our lunches at night and even packing snacks for the 30-45 minute commute home. We decided to enroll in our 401k plans. We started off contributing just 8% and 10%, and we didn't even miss the money. After a while, my husband asked me about our short term savings. He wondered what's the use of being rich when were old if we can't pay for emergencies now. I told him I'm glad you asked, that's the second half of the book. We're going to open a Money Market account. He was thrilled that I was so excited about our total financial picture. This book is one that has caused me to make major changes in my life and it has helped us "rest easy" knowing that we now have financial security.

Thanks A Million,

- Kymberli Tyler

May 13 2005
Hi David, I wanted to share with you how much I enjoyed your Start Late, Finish Rich book. My wife and I have recently gone through bankruptcy and are in most aspects of life, starting over. We have a very nice home that survived the bankruptcy with about $30K in equity but not much else. No savings and no plan, until I read your book. I have now started participation in the company 401K and am contributing 20% to it and have plans to start a IRA for my wife next week. I have also set up direct purchase stock plans for my 3 grandchildren so they, not only have a good start in life, but also so I can help to educate them on the importance of a financial future. This is something that I was never taught and frankly, never worried about until now. We have plans to sell our home next spring and take the profit from it to buy a foreclosure property, live in it for at least two years to fix and upgrade it and resell it for the profits. This is something that my wife and I are very good at and can make some quick profits on.

Thank you so much for writing and caring about others enough to share your thoughts and beliefs.

- Ray Anderson

May 6 2005
I read your book, "Start Late, Finish Rich" in one 6 hour sitting. Tomorrow morning I will up my 401K percentage from 12 percent to 15 percent, and on the way home I will cancel my gym fee of $68 per month. Also, the $5 bucks I spend 5 days a week for lunches is history as is the $3 per morning for coffee and muffin. That is $228 per month in savings, and, my dish satellite will be the next victim of my new found zest for saving. That will save another 34 dollars making my monthly total $262!! Thank you so much for writing your book...I am now seeking my first rental property and am seriously thinking of selling on EBay..the ideas are endlesssss!! Thank you again and again!

- Janice Erwin

May 6 2005
Mr. Bach,

I wish your Finish Rich Workbook was around about seven years ago. I have just finished reading this text and I did almost exactly what you said in order to finish rich and be debt free before reading your book. The information you give is excellent, simple, realistic and everyone should know what you teach for a basis of financial advice.

By the time I finished reading your book I was already debt free, investing 43% of my monthly paycheck, accomplishing everything I wanted both personal and professional lifestyles.

The latte factor is perfect, because it is so very true and happens to everyone. I did not realize how much debt I owed until I finished with Graduate school - well over $25,000 in credit cards. Instead of cutting the credit cards, I placed each one in a different zip lock bag; placed the credit card in a plastic cup, filled the cup with water and froze the cup in the freezer. This way if I wanted something I had to let the ice thaw. Usually by the time it was over, I did not want the item and saved my self the agony of paying off credit cards.

Being an officer in the military, it is important to have excellent credit rating, and be financially secure. I try my best to encourage saving money instead of the simple pleasure of spending it on usless items. You book is excellent, I have recommended it to many friends and co-workers.

To those people who are leary of what Mr. Bach states in his book, do not be, it works. Just remember it takes time and perserverence. Don't quit and your goals will soon be very, very high!

- Ed Lauer

May 6 2005
I just read your book Start Late, Finish Rich. I do have to say, this is the first time I have heard about you. The book was reccommended by my hairdresser.

I was pleased to find out that my husband (37) and I (34) were already doing a lot of things right. Like the 401k...although I was only giving 10% with a 5.5% company match...I upped it to 15% and plan to do the 25% in a few months. Plus, we were looking at a vacation home to buy that we were on the fence about, but not anymore. It's in the works for us to buy it within the month. We are planning on renting it out when we are not going to be using it.

There was a lady in your book that said her Latte Factor was a Wal-Mart factor. I personally don't like Wal-Mart, I think it's more of a crowd issue for me. But I found that I could save money on food just by going to Wal-Mart. No doubt, they are cheap. I do a lot of juicing and produce can be expensive. but at Wal-Mart I can save $15 just on my regular stuff. So for me, actually GOING to Wal-Mart became part of reducing my Latte Factor. I go on off peak times so there's not really too many people there.

I just finished your book 1 week ago and my husband is reading it now. So, I hope to be writing again to let you know our true success. But WE WILL MAKE IT!!!

I'm planning on giving The Automatic Millonaire to my little brother (25) and sister (17) so they can start now.

Thank you,

- Lori Dulaney

May 6 2005
Hello David,

Many thanks to you and grandma Bach for sharing your wisdom on how to Finish Rich. I'm totally inspired and am already in the SMART WOMAN FINISH RICH Club!

- Laura Pantoja

May 6 2005
Dear David,

I must thank you, thank you thank for this wonderful book. Now my husband and I can rest assure that we will be millionaires in our fifties! We are just average 1st generation Vietnamese-Americans trying to provide a better life for our children, and with your help we will achieve this financially. We are so excited about this book weˇ¦re telling everyone about your book, our family, friends, and other teachers! It's no fun being rich by yourself. (Especially when it's time to pay the dinner bill, and everyone's looking at you saying, "you guys are the millionaires, ya pay!!!") If we can do it with my teacher salary; anyone can do it too!

- Christina and Peter Le-Tran

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