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January 20 2005
I took the Latte Factor experience and found out that I could save some money each week by being more careful about my purchasing decisions. I don't stop off for coffee and bagel in the morning, but there are other ways we can save as well. As a result of reading your book, I feel better about my finances than before. I'm organizing files the way you suggested. I've been doing on-line banking for years and never paid a cent for it. I started an automatic investment system for college for my children. I also consolidated most of my accounts to one investment company (Vanguard) as a result of the information you provided in your book. The other investment websites that you suggested have some very helpful calculators and retirement planners. These have been very helpful in determining where I am at 44 years old and where I'm heading! Thanks for all your help.

- Ralph Keating

January 20 2005
I have been wanting to write you ever since I saw you on Oprah but I figured I might as well wait until I have something to write about. I am a single, self-employed mother of 3, 2 teenagers and a 21 year old. Since watching your show, I have changed my house payment to bi-weekly and added a few extra dollars each month, and have paid off alot of credit card debt with my income tax refund. I still have about $1,800 left, not too bad. I WILL pay that off by the end of this year, and I now have a mutual fund with T. Rowe Price that will take $75 a month out of my checking account. I feel so much better already. I have my kids in catholic schools so there is still that tuition, but worth every penny to me. I really feel that since January I have come a long way, and I can't tell you how good I feel about myself. THANK YOU so much.

- Mary Anne Luebbert

January 20 2005
I am married with four children, and I bought The Automatic Millionaire on a Monday and had it completed by Thursday. I have opened a Rainy Day Account with ING Direct (nice interest rate compared to my normal bank), increased my weekly contributions to my 457 from $20.00 to $100.00 (to start), set up bi-weekly mortgage payments with Pay Map (saving over $65,000 in interest with the mortgage paid off 5 years early), determined our Latte factor of $50.00 per week, and am in the process of evaluating my current life insurance policy and transferring my Traditional and Roth IRA's into my 457. If I can't, I will increase the contributions. My wife is establishing a retirement plan and we are evaluating our older children's Educational IRA's and establishing them for our younger children. This is all in addition to my pension plan at work. I feel more secure about our future and am currently reading Smart Couples Finish Rich in case there is more that we can do. Honestly, this has been alot of fun and not hard work at all. I have and will continue to recommend these books to family and friends. Thank you for helping us to be financially secure. By the way, we have also been able to add a small weekend getaway to Nantucket Island in addition to our normal summer vacation. IT WORKS!

- Thomas Corbett

January 20 2005
This is not a success story but a questions:

I financed my car for four years, but I finished the payment in two years. It appears that I paid the same amount of money I would have paid if I had kept the loan for four years. What happened here? Is it what they call "Simple Interest" and if so, could you explain the simple interest concept for me a little more?

PS: By the way, I just finished reading your book, "The Automatic Millionaire" Good book for those who are not financially inclined. I have recommended it to two of my friends that I know need it more than I do.

Thanks,

- Victor 

January 20 2005
My husband and I are empty nesters. I wish that we had this book years ago. We have done quite well on our own, but really could have done better. The information on www.ingdirect.com has helped us know where to direct some of our money, as we were like the man who buried his money in the backyard. We were using very low money market rates, which we did not realize until I called the bank the day I read the story. Also, we will be making an extra payment on our mortgage and knowing when and how to do it has been so beneficial. I have mentioned so much of your book to my adult children. I HOPE they will listen, because only then will they be able to be winners. I have never felt so EMPOWERED as I feel now having read your book. Thank you for sharing with all of us.

- Wilma Stoeckle

January 20 2005
I can't belive how much money I've wasted in the last year!!! ON COFFEE and snacks!! I am a single mom of 3 small children and a teacher. Every day during our first recess, a co-worker and myself would race to the nearest Chevron for more coffee (I always bring a mug full from home, but it's gone by 9:30am). As I was reading your book, The Automatic Millionaire, I started doing the math of what I was spending each morning. EVERY morning, 5 days a week, I spent $1.10 on coffee plus $.99 on a pack of Hostess donuts, and another $.99 on Peanut M&M's for a little snack later on in the day. First thing I realized was I eat a lot of junk...NOT GOOD! Second thing is that I was spending $3.08 EVERY DAY...that's $15.40 a week, which is $61.60 a month, which is $616.00 during our school year (10 months)!!!!!! I was, and still am, absolutely SICK that I've wasted that much money on coffee and snacks when I could've invested that money instead!!! At $616.00 a year, that would've been $15,400.00 over the next 25 years!!!! And that's only if the prices stayed the same over time, which of course, they will only be going up in the future!! I go back to work tomorrow to start another school year and you can be sure that I won't be going for coffee and snacks anymore....The Latte Factor has opened my eyes....that money I used to spend on Chevron goodies is now going into an IRA for my future!!!

THANK YOU for such a wonderful book!!!! You brought to light SO many things, things that I will be doing from this point forth (Paying myself first, paying down my mortgage quicker and NO MORE Credit Cards!!). :)

Have a blessed day!!

Sincerely,

- Tara Richards

January 20 2005
Mr. Bach,
I am 32, married and a stay-at-home mom to a 3 year old and have a baby due soon. I saw you on Oprah a few times earlier in the year, have finished "The Automatic Millionaire" and am working on "Smart Couples Finish Rich" now. I have been telling my husband, mother and friends about you and recently gave "Smart Couples..." and some cash as a wedding gift -- that won't be the last time that happens. My mom is next in line to read my books and I will probably get her "Smart Women..." too. My husband is not an avid reader but is working on "Automatic Millionaire" at work (as a firefighter it is sometimes hard to find time to read) and we talk about what he has read when he gets home. He is very excited about it so far, and we're both excited to see where we go from here.

I can't honestly say that my husband & I have done everything you recommend yet, but we have done some of the activities and are taking notes, so we are ready to do more when the time comes. We recently sold our home and used some of the money to pay off all of our debt as well as put money down on our new house. Right now we are waiting to find out who bought our mortgage so that we can set up an automatic payment plan. Since it is only "open" once a year, we are waiting for October to change the contributions to my husband's retirement plan. We are going from $50 to $200 biweekly and that will bring to about 10%. I have to admit I am a little nervous about making the jump but know that the money is there. My next project is revamping my filing system. The current system has been driving me crazy so I was glad to see one outlined in your book.

Thanks again for these books -- they are wonderful and really inspiring. We have come a long way, and are even more hopeful after having read your books. We are making plans for ourselves and our children that we wouldn't have before.

- Tanya Paro

January 20 2005
I know this may sound crazy but...I am only 16. I was watching you on Oprah and...it changed the way I think about money forever. I caught myself today not buying something because...I could be saving it and getting ahead. I am going to start reading your book as soon as I have enough money to buy one. I am usually very skeptical about people like you...no offense. I just wanted to say that it has changed the way I think. I am going to start putting back the 1st hour of payment each time I work into my retirement. So I wanted to say thanks.

- Tabby 

January 20 2005
I have been reading the success stories and was compelled to write my own. It's really funny how I came across your book. I stumbled upon it while shopping for other things. Until that day, I had never heard your name, nor did I know what "The Automatic Millionaire" was about, but the title grabbed me. I'm not one for get rich quick schemes, which is what I thought about your book at first, but I decided to read the flap anyway. Within one minute, I knew I had to have this book. I took it home and read it in one day. The same day I finished it, I signed up for my 401k starting with 10% and setup a separate emergency fund account which automatically deducts $150 every two weeks from my bank account. Now I am working on the third leg of the journey: preparing to purchase a home. I also wanted to thank you for going into detail about the basics of investing and saving. Without your book, I would not have had a clue as to what to do first with the 401k. Now I feel more excited about my future because I know that the sacrifices I am making early in life will allow me live out my days peacefully while enjoying life to the fullest, debt-free. Thank you for providing the map that will guide me on my journey of 30 years to financial independence.

- T. R. Taylor

January 20 2005
I saw your book The Automatic Millionaire in Costco and thought, "what the heck, let's see what this guy knows". What amazed me was that I was already doing just about everything you recommended. I didn't call it my Latte Factor though but my "dirty little habit". I figured so many people smoke and always seem to find the money for their addiction so I took up smoking on paper. I put $10 a day into an account for my new 8 month old daughter's education. So far she has over $3200 to her name and I'm thinking of going up to a two pack a day habit in the future. We have also been contributing the max to our respective RRSP's for seven years now. I've always paid my mortage weekly ever since buying my first home in 1990. Two years ago I asked the bank to deduct an extra $125 a week, which is straight principle, and it has put a serious dent in what we owe. I expect to be out of debt in about eight years. Keep preaching the gospel - it works. We are almost halfway to millionaire status and I just turned 37 today.

- Steve Ellis

January 20 2005
Hi,

I've just finished reading "The Automatic Millionaire", and I just want to say THANK YOU! I've asked my husband to read it too, and I am very enthusiastic about our "new" future. You've made it seem easy, and almost fun--and this comes from a gal who is "math-challenged"!

THANK YOU SO MUCH!

Cordially,

- Starr Azalea

January 20 2005
I must honestly say that I enjoyed your book tremendously. I started reading it right after I bought it and couldn't put it down. Great advice. I took immediate steps and am now on my way to becoming an automatic millionaire.

- Sonia Harvey

January 20 2005
Hi David. I am a single lady and also an immigrant from Africa. I came to the USA by myself when I was 18 years old to make a better life for myself. For years I've been struggling to save money but it has been difficult with paying my rent, auto insuarance etc. Nobody tells you about the bills you will find when you come to America. Anyway, I came across your book "Smart Women Finish Rich" on Amazon.com 2 years ago and decided to puchase it. After reading it I was very inspired to start saving for retirement. The company I work for does not offer a retirement plan so I went ahead and opened an individual IRA account at one of the brokerage firms listed in your book. I'm having the money taken out from my checking account. Every month I have contributed the maximum amount allowed for the last two years, and I recently received my quarterly statement. It made me feel so wonderful that I have something put away for retirement. The American dream does not seem so impossible anymore. Though I do not have any current savings for a rainy day I'm excited that my future is being taken care of. last week I read "The Automatic Millionaire" and I opened a money market account. Thank you so much David. I don't feel so hopeless anymore!
God bless you

- Shiro Lewis

January 20 2005
Since reading your book, my wife and I have DOLPed six credit card accounts. We have both been maxing our 401k's for about 4 years. We also just signed up for bi-monthly mortage pay and our lender (Countrywide) doesn't even charge a set up fee!! Just $2 per transaction. We're working on the rest of the credit card debt with an optimistic and comfortable eye on the future. Thanks for the great tips and for re-newing my excitement about our financial future.

- Scott Yurashek

January 20 2005
I just finished reading The Automatic Millionaire that I bought earlier in the daytime. I had plans to read your book on my flight tomorrow, but like anything worthwhile it was additive, and in a few short hours I was done.

Your booked confirmed my suspicions on how to become a millionaire, and I am pleased to say that I too have been an automatic millionaire for the past five years without knowing it in your context! Yes, my wife and I contribute 10% to our 401K plan that is balanced and well diversified, make maximum contributions into our Roth IRA, and in the past few years have been making contributions into our kids' 529 college fund, with a fifteen year mortgage that will be paid off on my fifty-fifth birthday!

Thanks for your inspirational and informative book!

- Scott & Angela Mills

January 20 2005
Oh my gosh - started your book at 7:00 pm last Sunday (today is Friday) since then, I maxed my 401k plus added the 'over 50' catch up, transferred my paultry bank MM to an ING savings account, bought an individual copy of the book for each of my 3 grown children, my office manager and my fiance - it has completely changed my attitude towards "MY MONEY" - all that with a 200+ page book - I am a self-employed physician who obviously has really never "paid myself first". Thanks so much.

- Saundra Robinson

January 20 2005
I just read through the other success stories and decided it was time to write mine. For years I had been afraid to look at my financial picture. My "live in the present" husband thought my concerns were silly, but worrying about the future was keeping me awake at night. Your book had been sitting on my desk for at least a year when one day I randomly opened it. The heading in front of my eyes read "What if my partner doesn't want to do this exercise with me?" Talk about getting my attention! Well, to make a long story short, we went through the exercises, talked about and wrote down our values and goals, and have:
  • Organized our financial paperwork
  • Refinanced the mortgage and pay extra every month
  • Almost eliminated credit card debt
  • Started contributing 25% of my income to my 457 retirement account
  • Started saving another 13% of my income to other savings accounts
  • Planned a cross country trip for next summer with our three children
  • Started an IRA account for each of our children with the money they earn working for my husband
    I sleep better now. Thanks!

    - Sarah Lester

  • January 20 2005
    We're feeling GREAT today after reading your book "The Automatic Millionaire." Despite having three special needs children and the mounting bills that accompany them, we started the automatic deduction process 10 years ago with my husband's 401k. You really DO not miss what you cannot see. That "automatic deduction" has grown from zero to over $126,000 even though we have had to tweak our percentage to match our financial needs at any given time. Despite dropping to 2% some years, we are back to 18%. I work 2 part time jobs. I have $250 a week automatically put into a money market account to cover our Roth IRA contributions. I have $1200 a month automatically withdrawn to be divided into a 529 account for each of my sons. We automatically put the rest of my pay into our "emergency fund" which is over $20,000 - 5 months worth! Another $50 a week automatically goes into a vacation club. I am now in the process of having money from my second job (freelance TV) put into either a SEP IRA or the new one-person 401k. Like you said, the ONLY true way to do this is through automation. We are very disciplined and could not commit. Now, we are used to it. We live comfortably below our means and knowing our future will be set! We also make one extra payment a year on our mortgage. Not bad for a family besot with many challenges.

    - Marie Louise

    January 20 2005
    I started reading your book at the grocery store. I confess to coming back and reading at intervals over several weeks before I finally bought it. MY latte factor was dvd's I haven't stopped all together but have been able to start saving $50.00 per pay check automatically. I am sharing this with my son's high school friends that are about to start college. I wish I thought about this sooner being middle aged. We recently sold our house because my husband lost his job. We did have 6 months worth of money and now we have nothing, but the change in thinking can really change our future outcome. Thanks for the book and the change in thinking!! Louise

    - Louise 

    January 20 2005
    Mr.Bach, Thank you, I saw you on Oprah and ordered "The Automatic Millionaire" through Amazon that day. I have only read the first chapter but I am hooked. I am 43 and my husband is 48. Already I've started looking for ways to save. I hope its not to late because of our age. The success stories I have read, they started saving when they were in their 20's. I figure we will work until at least age 60-65 and then following your program retire. Is that possible? I want to attend you semiar in Newport News, Va. on July 28 & 29, 2004. I hope to meet you. Thank you,

    - Kelly 

    January 20 2005
    I would just like to take this opportunity to thank you for sharing the important fundamentals on personal financial success. I was inspired by The Automatic Millionaire because it re-enforces that the financial philosophy which I have set out for myself many years ago are the same philosophies shared in this book. My wife of 22 years bought me this book because she has seen you on The View and thought that your philosophy on finances reminded her so much of those of my own. She was right. I did gain additional information that I will be utilizing promptly.

    I work as a Director of Transportation for a Canadian distribution company. I am 42 years old, have two teenage children and have done well in real estate in the past 22 years, owning a home mortgage-free, a condo which I rent out mortgage-free and 50% of a condo in Florida which is also mortgage-free. A lot of my colleagues and friends tell me that I should be teaching financial courses on the power of managing your money. For me this has been all achieved by managing my money.

    It is true what you say in your book that you don't have to have a lot of money to be rich. The McIntyre story was very inspiring. It's a great example how a couple put their financial plan together and how automatic they made their goals achievable. I have shared their story along with the Latte factor at my place of work. It's funny, at first the reaction is all the same as you wrote it. I can't save $ 10.00 per day!! Then you take them through the Latte factor scenario and its now a WOW reaction. I think I can do that. Since November I have convinced 13 employees to join our company pension and kick start them to commence their automatic RRSP contributions.

    It was a great book and I thank you. Now it's time for me to spread the word, so many others can share in a wealthy future. Most importantly, congratulations to you and Michelle on your new addition, your son Jack. Children bring the utmost wealth and happiness into a marriage. Take the time and enjoy him. They grow up faster than you think.

    - Savy Tropea

    January 20 2005
    My name is Steve and I am a financial advisor with a major brokerage firm as well as a certified Finish Rich speaker.

    The Finish Rich series has transformed how I work with my clients as well as my family. Instead of focusing on just the "big money" I have taken a renewed look at how small investments over time can make a significant difference in the lives of my clients and my children.

    As a result of this system, I am in the process of opening Roth IRAs for each of my three boys. With other money they earn from chores, they each will be able to fund their IRAs with approximately $260 this year--not bad for 13, 11, and 10 year olds.

    It is exciting for me as a father to see my kids excited about saving and investing and talking about companies to invest in. Through this process they've also learned the value of money.

    I've shared this idea with other parents and it has become popular in our neighborhood. Thanks for making a difference in my business, the lives of my clients, and my family!

    - Steve Meier

    January 20 2005
    I just finished reading your book, Smart Women Finish Rich. What a great book!

    I am a 67 year old Breast Cancer Survivor, and it gave me encouragement to move forward. I have recently relocated to South Carolina, to be near my daughter in North Carolina, and have been a Realtor for many years. I am going to get back in Real Estate here in South Carolina and put my pin ribbon on my Remax sign and hope to do very well with your inspiration. Thanks for the encouragement.

    - Shirley Morris

    January 20 2005
    As did my father, I enjoyed your book The Automatic Millionaire. Just like my father, I plan to never have a credit card; a debit card is just fine.

    I was home schooled and began working for a salary as a grader in a private school at age fourteen. My father taught me the value of saving. I am now eighteen and meet all the requirements of becoming a millionaire as you show on page 48. That is without adding another penny. I started my IRA at fourteen and my stock account as well.

    Thank you for the book, it reinforces what I already knew from believing in my father. P.S. Despite not having gone to any organized school system in my life, I was lucky enough to be awarded a full "trustee's scholarship" at a four year college. A 100% prepaid tuition is also a good investment.

    - Shannon McGinnis

    January 20 2005
    I'm 26 years old. After reading The Automatic Millionaire, my priorities of saving money are reinforced more than ever. I had $7,000 in credit card debt after college and was struggling paycheck to paycheck. Things have changed for the better since I've been debt-free. I set up a $600 monthly deduction toward a savings account at ING Direct with a 2.2% interest rate. I also have a monthly $200 deduction toward Ameritrade for stocks. On top of that, I have bumped my 401K plan deduction from 10% to 15%. This definitely makes me feel more in control financially! Thanks for the resources!

    - Mi Tran

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