David Bach - Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age

CONTENTS

To my wife, Michelle,
who dreams with me and holds my hand through the fires,
I love you.
To my little son, Jack
I hope you always dance, dream,
and follow your heart.

Praise for The Automatic Millionaire

The Automatic Millionaire is an automatic winner. David Bach really cares about you: on every page you can hear him cheering you on to financial fitness. No matter who you are or what your income is, you can benefit from this easy-to-apply program. Do it now. You and your loved ones deserve big bucks!

Ken Blanchard, coauthor of
The One Minute Manager

The Automatic Millionaire gives you, step by step, everything you need to secure your financial future. When you do it David Bachs way, failure is not an option.

Jean Chatzky, Financial Editor, NBCs Today

Finally, a book that helps you stop sweating it when it comes to your money! The Automatic Millionaire is a fast, easy read that gets you to take action. David Bach is the money coach to trust year in and year out to motivate you financially.

Richard Carlson, author of Dont Sweat the Small Stuff
and Dont Sweat the Small Stuff About Money

David Bachs The Automatic Millionaire proves that you dont have to make a lot of money or have a complicated financial plan to get startedyou can literally start towards your financial dreams today, in a matter of hours, with just one life-changing secret: Pay yourself first and make it automatic! Equally important, this book shows you how to simplify and automate your entire financial life.

Harry S. Dent, Jr., investment strategist
and author of The Roaring 2000s

Praise for Smart Women Finish Rich and
Smart Couples Finish Rich

Smart Couples Finish Rich teaches women and men to work together as a team when it comes to money. Bachs nine steps are powerful, yet easy to understand and fun to implement. The entire family can benefit from this great book.

Robert T. Kiyosaki, author of
Rich Dad, Poor Dad

David Bach is the one expert to listen to when youre intimidated by your finances. His easy-to-understand program will show you how to afford your dreams.

Anthony Robbins, author of
Awaken the Giant Within and Unlimited Power

I know how hard it is to make a personal-finance book user-friendly. Bach has done it. Smart Couples Finish Rich picks up where Smart Women Finish Rich left off.... This is an easy, lively read filled with tips that made me smile and at least once made me laugh.

USA Weekend

Smart Couples Finish Rich is a must-read for couples. Bach is a great financial coach... he knows how to bring couples together on a topic that often divides them.

John Gray, author of
Men Are From Mars, Women Are From Venus

Finally a book for women that talks about money in a way that makes sense. David Bach is not just an expert in managing moneyhes the ultimate motivational coach for women. I cant recommend this book enough. Its a must-read!

Barbara DeAngelis, Ph.D., bestselling author of
Real Moments

INTRODUCTION

So you feel like youve started late?

What if I told you its not too late for you to finish rich? That even if youre in your thirties, forties, fiftieseven your sixties and beyondyouve still got an opportunity to put your life on the right track financially and stop worrying about the future.

What if I told you its possible to catch up on saving for the future without taking HUGE risks?

What if I told you that, even on an ordinary income, in less than a few hours you could transform how you earn, how you save, and how you investto the point where you really could start late and finish rich?

What if I told you that there are simple strategies you can use to make more money than you do now without quitting your job, so that you can finish even richer than you would have if you had started early?

Would you spend a few hours with me? Are you ready to start late and finish rich?

David Bach

ITS ONLY TOO LATE IF YOU GIVE UP

Ill never forget the first time I met Harriet. She had come to me with a problem. The problem was that she was in her fifties, in debt, and hadnt saved a dime. She was losing sleep, depressed, and extremely worried about her future.

Her story changed my life.

My coaching changed hers.

Now its your turn....

Harriet was in the audience at one of my FinishRich seminars in Washington, D.C. I was just finishing up when she raised her hand and blurted out, Can I ask you a really important question?

I could tell she had something serious on her mind. Her face had worry written all over it.

Of course, I replied. Whats the question?

She said, David, Im 52 years old and Ive done everything wrong. Im divorced and recently remarried, and am now working 45 hours a week to make ends meet. Ive got literally nothing in savings, and I dont know what to do. Last year I went to a financial planner. I paid him $500 to run a financial planand he came back and told me that in order to be able to retire in my sixties, I needed to start saving over $2,700 a month. Considering that after taxes I only take home about $3,500, his plan was ridiculous. You know what he said to me? He said, Well, Im sorry, but thats what you have to do. I went home furious and then I got depressed.

Harriet sighed deeply. Now I dont know what to do. Im losing sleep worrying that Im going to wind up a bag lady someday. I dont know how Im ever going to catch up on my savings. She looked at me bleakly. What do you think? Is there any hope for me?

IS THERE ANY HOPE FOR ME?

Looking back at Harriet, I could literally feel her pain. And I wasnt the only one. There was a strong sense of empathy in the room. My gut told me that a lot of other people in the audience were just as scared, hurt, and upset about their futures as Harriet was.

With that in mind, I answered Harriet as carefully as I could. Of course theres hope for you! I said. But before we focus on why you can and should feel hopeful, first help me understand your situation better. You had a meeting with a financial planner, you paid for his advice, and then you went home mad. So after you got home, what exactly did you do? Did you change anything about the way you were handling your money? Did you follow through on any of his advice?

DAVID, TO TELL YOU THE TRUTH,
I DID NOTHING

Harriet shook her head. The appointment had been a year earlier, and the planners advice had upset her so much that she hadnt been able to bring herself to do anything about her financial situation. She had come to my seminar trying to get remotivated to do something, but she still felt stuck. It all just seems impossible, she said.

ITS NOT A SPRINT, ITS A MARATHON

I wasnt surprised by how hopeless she felt. Harriet, I said, if youd never run a mile and I told you to run a marathon today, that would seem impossible, too, wouldnt it? But you know how all long-distance runners start? They start by running just a block or two their first day of training. Actually, most dont run. They just jog. And some dont even jog. They just sort of walk fast. The point is, they start off going maybe two blocks, then three blocks, then a half-mile, then a mile, then a couple of miles. And before they know it, several months have passed and theyve gone from being out of shape to being able to run a marathon.