Charged Up! podcast: How smart couples can retire rich


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Episode 66 with personal finance expert and author David Bach


Personal finance guru David Bach talks about one of his all-time best-sellers, “Smart Couples Finish Rich,” and how partners can set themselves up for comfort, prosperity and security – no matter where they currently stand financially.

You don’t have to make hundreds of thousands of dollars to have a comfortable retirement. You just need to make the right moves now to ensure your future.

So, let’s get Charged Up! about learning how smart couples finish rich!


Jenny Hoff: David, thank you
so much for joining me today. It’s a real honor to talk to you.

David Bach: Well, Jenny, thank
you for having me on your show. I know it’s super popular and I appreciate you
wanting to interview me. So it’s good to be with you.

Hoff: Yeah, and I mean
we have a lot of really good information talk about. You’ve written numerous
best-selling books including, “Debt Free For Life,” “Automatic Millionaire” and “Smart
Couples Finish Rich.” These are just a few of them, and I love that in your book,
“Smart Couples Finish Rich” you talk about how you learned about money from
your grandmother. Can you tell me a little bit about that and how it propelled
you into the career you have today?

Bach: Yeah, well you
know it’s amazing. I have a little boy who is 8 years old right now and his
name is James. He reminds me of being his age and at the time I was just 7.
Whenever I visited my grandmother in Milwaukee, Wisconsin, she would take me to
my favorite restaurant in the whole world, which was McDonald’s.
So one day at McDonald’s my grandmother said to me, “You know, David, you could
get rich by coming to McDonald’s and not just be a kid who comes and spend
money here,” and I was like, “What are you talking about? I’m too young to work
here grandma.” She said, “No, today I’m going to teach you how to get rich.” She
said, “I’m going to teach you how to buy stock at McDonald’s.”

She literally
made me go up to the cash register to ask the manager if they were publicly
traded. The manager looked at me like he was on Candid Camera, he came back to
where my grandmother was sitting and explained to her that yes, McDonald’s was
publicly traded. She said, “I knew that. I just want my grandson, David, here to
learn how to ask the question, because today I’m going to teach him how to buy
stock in McDonald’s.”

That was how I started out investing at 7 years old. She
literally opened up The Wall Street Journal, circled MCD, taught me how to buy
my first stock, helped me to open a brokerage account where I bought my first share
of McDonald’s and at 9 years old I bought my second share. I bought it in
Disney and it changed my whole life and made me look at the world like the
game of Monopoly could actually be played for real.

When I think about my
grandmother today, her legacy is just amazing because she didn’t have a college
education, she started with nothing, she was absolutely broke at the age of
30, she was living paycheck to paycheck, and she started saving a dollar
a week between her and my grandfather; and by saving a dollar a week, she
started taking that money and investing it in the stock market.

Also, in her
story, she failed at the beginning. She didn’t succeed when she first started
investing, so she started taking classes and finding money mentors and she really
taught herself how to be smart with money and by doing that, over a lifetime
she became a self-made millionaire. She taught my
father how to do it, he became a self-made millionaire. She taught me how to do
it, my sister how to do it and we became millionaires; and, now I’ve been
teaching my grandmother’s lessons for over twenty years. I’ve taught millions
of people and it’s really my grandmother’s lessons which started it all. The
first book I ever wrote was actually for women; it was “Smart Women Finish Rich.”
I’m actually working right now on the update. I’ve just got the brand-new cover
sent to me fifteen minutes ago and now the book is coming out as a twenty-year-anniversary
edition in September of this year. So my grandma’s legacy continues.

Hoff: That’s a fantastic
and an inspirational story because it really does show you that it’s just
education that you need. If you have education and any kind of an income, any
kind of a job, you can start making this future for yourself. You don’t need to
inherit it, you don’t need to have an extremely high paying job and you talk
about that a lot in your book, “Smart Couples Finish Rich,” as well as your
other books too. I want to briefly talk about the background to “Smart Couples
Finish Rich,” because you mentioned in the book that even though you were
obviously successful already in the financial world, when you and your wife got
home from your honeymoon, the decisions had to be made about how you guys were
going to deal with your money and there was a lot you had not communicated, and
that’s how you really realized you had to write a book like that. Can you tell
us a little about that story?

Bach: Yeah, well we
didn’t live together before we got married. As soon as we came back from our honeymoon
we moved into our first apartment and the bills start coming in. I’m dividing
up the bills; I’m taking the bills with her name and I’m putting them in her
pile and the ones with my name, I’m putting them in my pile. I’ll never forget when
she came into the kitchen and asked me what I was doing, and I told her I’m
separating the different bills and she just pushes all the bills together into
one pile and says “Honey we’re married now, it’s all one pile. Go pay the bills.”
It was really kind of funny the time. We started arguing about how we were
going to manage the money that first year. What was really kind of like an eye
opener for me was that we were both financial advisors, so we met at Morgan
Stanley, we had gone through training together, we had a financial background,
we knew how to manage money, we did it for our clients and yet here we are, a newlywed
couple, trying to figure out how to do it on our own. At the time we were fighting
about it, I got a letter from a woman who read “Smart Women Finish Rich” that
said she was fighting with her husband about money, they weren’t on the same
page and she said you really need to write a book to help couples. I showed the
letter to my wife and she’s like, “Yeah, you should write that book because we
could use it.” That was kind of what the catalyst was because I looked at her
and thought you know, I have all these incredible clients that have done it; they
retired, they’ve done well financially and most importantly they’re still in
love and they’re happy. I’m going start going back to my office and I’m going
to start interviewing my clients and looking at the ones that really did it
right, versus the ones that didn’t do it right and that is what became the
basis for “Smart Couples Finish Rich.” The beauty of being a financial advisor and
working with clients is that I had all these incredible role models both of
what’s worked and what hadn’t worked, and I was able to really dig into what
they had done right and then go back and share it.

Hoff: Yeah, and you
even mentioned in the book about how people had read “Smart Women Finish Rich,”
wrote to you they said, “I’m on board, I’m ready to get started on this but unfortunately
my spouse isn’t, and they’re not buying into it or they’re not willing to cooperate.
What do I do?” So what is the difference between planning how to be rich by
yourself and doing that as a couple? What kind of different mindset do you need
to have?

Bach: Well it all goes
back to the days of my clients. What I saw with the clients that were really
successful, I mostly recognized that they had very ordinary income. They had
made between $60,000 and $70,000 a year. They were not high-income people, but
they retired in their early fifties to early sixties with really no debt. Their
home was paid off, they often didn’t have any student loans for the kids and
they were able to retire and live happily ever after. I was like wow they did
well, and asked what they typically did. They worked on their financial life
together for decades, so they agreed on fundamental things, like they’re going
to spend less money than they make. I think it’s really simple but that was
something they agreed on. We’re not going to go into debt for things we can’t afford
to pay for, we’re going to pay our mortgage off early. Most of the couples I had
that retired early was able to do so because they pay their mortgage off early.
They agreed on what percentage of their income they were going to pay
themselves first, so they all paid themselves first and they saved money automatically.
Most of them were using their 401(k) plan, saving the money automatically and
gaining interest. A lot of them got financial planners early so while they were
coming into my office, we used to work on their financial retirement plan in
their fifties. In many cases they and sat down with a financial planner at some
point in their 30’s and in their 40’s and they had done all the core critical
things that they needed to do which I laid out in the book. They had life
insurance, they didn’t wait to get life insurance, they had a will done – all
that would need to be updated. They had done all the basics. Sometimes the couple
that is successful, they worked on it as a team; sometimes they divided up who
paid the bills. There might be one person in charge of paying the bills, but
they still sat down together and worked on it. At some point throughout the
year they checked in with each other to see how they are doing, they do annual
review together to see if they made progress this year. I’m sitting here right
now as I’m talking to you and on the left-hand side of me I have my retirement
plan, my financial needs analysis updated and it’s printed, so I can go through
it with my wife to just show her like, “Look, here’s where we were five years
ago and here’s where we are today,” and she’s probably going to look at this
with me for ten minutes although I might have spent two hours on it. But the
good thing is she’s going to know that there it is, there’s our update, it’s in
the file. I know where to go to get it if anything happens to David. That’s
really important too which I want to make sure we cover and get into the importance
of knowing where all your financial documents are, and I gave the whole program
the workbook on how to do that.

Hoff: Your book is
incredible because it isn’t just tips, you give specific lessons on exactly how
you organize your finances, how you create this wish list, how you make this
plan with your spouse, here are the different places you can go to get these
resources that you need. So I mean it’s really not just a book with some advice,
it’s a total workbook that somebody can use and get all the information and
resources that they need right there which I think is great because the minute
somebody has to go do extra work to find that they start to get a little bit
discouraged. I do want to go through some of your nine steps; obviously we’re not
getting into the nitty gritty of all of them, but I do want to talk about what
those nine steps are and go over them a little bit. Your first one is to learn
the facts and the myths about couples and money and one of those myths is you
need money to make money. Now you say in the book that’s not true and you give
an example of how saving just a few dollars a day can turn into a million
dollars over time. Can you go into that? You called it the couple’s ‘latte

Bach: Yeah. So the big thing
that often holds people back from saving is that they say they just don’t have
enough money to invest. For years I have said that if you’ve got five dollars
that you can invest today, you can change your whole life. In the book, I gave
an example of a dollar a day at five percent. How long does it take to grow
dollar a day at five percent? Well by the way, five percent will probably take ninety-nine
years. So how about a dollar a day at ten percent? It probably takes fifty-six
years to get to a million dollars. A dollar a day at fifteen percent, it takes
forty years. Now here’s the thing, most people can invest more than a dollar so
that’s why I ramped it up and I show you in the book; what if you save ten
dollars a day at ten percent, which is the average of the stock market since 1926
– it takes thirty-four years. What if you save twenty dollars a day at ten
percent? It takes twenty-seven years. So, I walk through the miracle of
compound interest and the couple’s latte factor is a metaphor that helps
couples look at where they are wasting small amounts of money on little things
that could literally be lattes, bottled water, cigarettes or Netflix. Think of
a million different things that you spend money on that you maybe don’t even
use anymore, and if you took that money and you redirected it toward savings or
paying down your debt, you can change your whole financial life. There are
people right now who pay for a gym every month and they don’t go to the gym and
they are spending one hundred or two hundred dollars a month. That amount of
money, if it was redirected and put into an IRA account and invested, that
alone could be the ticket to get them at least quarter million dollars in
additional savings. So it’s making you realize that you might have the money
you just have to go find it and make sure you keep some of it.

Hoff: Right and stop
telling yourself that as soon as I make more money, or if I get some sort of a
windfall, or I win the lottery then I’ll invest it, but I don’t have that much
money at the end of every month, so I’m not interested. But you say even a
small amount, just start small, think of it in day to day terms and that can
make a huge difference in your life down the road. I can’t tell you how many
interviews I’ve done where people say if only I had known how to invest, I
would invest whatever I could in the beginning and let it go as long as
possible, I wouldn’t have been in a bad situation when it came to retirement.

two is to determine the true purpose of money in your life and you talk about
values first and steps second; can you go into this?

Bach: Yes. What I did
was to update “Smart Couples Finish Rich,” and the book was updated this year
in 2018 and it is the seventeen-year anniversary edition. So I wrote this book
basically as a full blown financial planning guide, this is exactly what I did
for my clients. If you came into my office as a financial planning client, the
first thing I would do is to start with your values. I’d start by helping you
take a look at what’s most important to you and looking at who do you want to
be, what do you want to do and lastly what do you want to have. Most of
financial planning focus is on having first; it’s about the numbers and the
money. We just talked about the money with the latte factor. What I find that
was really powerful is to get total and vivid clarity around your true values, know
what your most important values are – both individually and as a couple and get
those down on paper. So I would give you an exercise on how to get them down on
paper and create your values circle, then I show you how to align how you spend
your money so it’s aligning with your values and bringing you closer to your
values. It’s kind of like using your values to pull you towards your financial
decisions, because what I say in the book is that when your values are clear,
your financial decisions become easy. Most people actually do know what they
should do when it comes to their money; they don’t they should spend less than
they make, they know that they should start saving when they’re younger, but
they don’t do it. When you’re clear on your values it makes your ability to
make the decision quicker and easier, and that can be all it takes to change
the entire direction of your financial life.

Yeah. You even gave examples and I’ve talked to other people before about how
they’ve did it. They’ve saved their money but then they’re still at an impasse
when it comes to what do. The couples that don’t have a plan together, they
don’t know what their higher calling is, they don’t know what they want to do
now in retirement. That’s where they actually fall into disagreement, they
never really discussed together what they will do once they’re a little bit
more financially independent. What is Purpose Focus
Financial Planning?

That’s such a big point you just brought up there that I don’t want to want to
just fly right by. You were about to go into what is Purpose Focus Financial Planning.
Purpose Focus Financial planning is making sure that all those hard work that
you did to build up your wealth and that you’re able to use your wealth to live
your best life. The money that you saved, now that you reached a point where
you have what we call time affluence – it’s one thing to be wealthy, it’s
nothing to actually have time – the reason people are so happy in their 60’s
when they retire if they actually have the time to really go out and enjoy
their life, they’ve get a lot of extra time to use. But not if you don’t have
clarity around your values. Often people retire and they don’t really know what
they should be doing with their retirement and they’re not aligned as a couple
and their purpose isn’t clear. So I give examples in the book, like a couple
comes into my office and said the husband was about to retire in three weeks,
and I asked the husband, “What do you want to do in retirement?” Now he said, “I’m
so excited David. I’m going to build a house on the land we have in North
Carolina and we’re going to go fishing every day,” and the wife looks at him
and turns to me and goes, “I don’t know who he’s going fishing with but it’s
not me.” Then he is like, “What are you talking about honey? We bought that
land eighteen years ago, that was we’re going to build our dream home.” And,
she says, “We haven’t even talked about that land in eighteen years. I thought
you forgot about it but we’re not leaving California, our grandkids are here,
our family is here, our friends, we’re not moving to North Carolina.” He looks
at me and goes, “Well what do you think?” I’m like, “I’m surprised you haven’t
talked about this yet.” But believe it or not, that’s surprisingly normal. People
will get all the way to their fifties or sixties and they haven’t actually had
a real conversation around when they want to retire, where they are going to
live, what they want to do. So Purpose Focus Financial Planning helps you would
all stages of your life to get clarity, as a couple, what’s really most
important to you and how to use financial planning to get close to that. That’s
all it is in financial planning, it’s not just about the numbers, but doing it
based on your heart and your values and that changes everything. People call it
a holistic view of financial planning, but I’ve been doing this for over two
decades and I call it Purpose Focus Financial Planning.

Hoff: Absolutely, and
it’s surprising how common it is, as you mentioned – people just don’t discuss
it and I’ve even known family members where they’re retired and one’s like, “OK,
let’s go travel the world now,” and the other person is like, “no I want to
build a new deck on our house.” And, one may wonder how they never discussed it.
They’ve been married for forty years. But it’s very common and it’s very normal.
You give a lot of great advice in the book, including having a higher purpose
together, volunteering together about being happy together, even outside of
just thinking about numbers, like what you talked about. Now getting back to
numbers, another step is building your retirement basket. Is investing in your company’s
401(k) enough, or is there more that you should be doing? What do you do if one
person stays at home so they don’t have a company 401(k) or they’re working
part time? How do you figure it out so this doesn’t become an issue in the long

Bach: So I’ll make this
really simple. If you have a 401(k) plan you should absolutely, positively,
beyond a shadow of a doubt use it. You should be using it and you should be putting
the maximum away. The number that it takes to become a millionaire is fourteen
percent of your gross income. How do we know it’s fourteen percent of your
gross income? Because Fidelity, the largest 401(k) provider in the world has
done an updated study every year that shows in America how many people are
millionaires. The latest study that came out showed that there are over 150,000
401(k) millionaires in their plans. They had about seventy five percent of
money in stocks and twenty five percent of the money in bonds. “Automatic
Millionaire” is my most popular book and the book I launched on Oprah. That
book has one simple formula: save one hour a day of your income, whatever you
earn the first hour a day of your income comes right off the top and goes into
your 401(k) plan. That happens to be twelve and a half percent of your gross
income. One hour a day of your income should be the minimum goal to get to. I
would tell you if you can do more, do more. Then for the spouse who is at home
who might have bills on the side, you need to open up a self-employed
retirement account or a solo 401(k) plan.

Hoff: In your book. you
give really all the tips, you give all the steps, you give all the resources
you give the worksheets. People just have to take the time to sit down with
their spouse and go over this. I think that they’re pretty much really well set
up and it’s up to them if they want to get a financial advisor after that, but
this really gives all the information that you need. Would you say that $18,000
would be the maximum that you should put into your 401(k) plan? Then if it’s
not going to be tax deferred, put it into a more flexible investment?

Bach: Yeah, I think the
reason I recommend 401(k) plans or 403B plans or all the different plans that
are available, firstly it is automated, so you don’t even have to touch the
money because it’s going to come right out of your pay check. That’s the game
changer. When you look at the way in which the average American does well, it’s
because they had money pulled out their pay check automatically every two weeks,
before they could touch it and it grew tax free until they took it out. Once
you’ve maxed out your 401(k) plan, then you should be saving money if you can
get yourself to do it in other investment vehicles. I go through different
options in the book; you can look at everything from money market accounts for
security purposes to mutual funds to muni bond funds to you know you name it. I
even talk about annuities and insurance and again what you need to know before
you can shoot.

Hoff: You also talk
about, in the book, that one of the mistakes that couples often make is not
taking credit card debt seriously. Can you go into that a little bit? Is this
something they should take care of before building a security basket, or just
do it at the same time?

Bach: Let’s just talk
about credit card debt for a second because credit card debt can be like
financial quicksand and it’s really easy to fall into credit card debt,
especially today, because the credit cards today are offering twenty-five
thousand points to fifty thousand points at zero percent interest. We’re using
a record amount of credit cards and what happens to those credit cards is that
people typically are not paying them off every month and then the rates go up. If
you’re late on one those of credit cards, the rate can jump up to nineteen percent
and the next thing you know they’re only making minimum payments and then you
end up with five thousand dollars in credit card debt which can turn into
fifteen to twenty thousand dollars by the time it is paid off. I am just a
believer that you should pay your credit cards off every single month. Credit
cards are great, provided you use them responsibly. If you’ve got credit card
debt, I tell people not to pay them off in a month. I teach a process which
helps you look at which credit cards to pay off first. Briefly, I want to take
you through the snowball effect which is a term developed by Dave Ramsey. You
take the smallest card and you pay if off first and then you go to the next
card then the next card, and by doing that you get the momentum and there are a
lot of people who read my books and find that process much easier than the
typical thing, which is to pay off the highest interest rate card. I’d rather
see you make minimum payments on every card, starting with the card that can be
paid off the fastest; pay it off first and then go to the next one.

Hoff: It’s so important
to make sure you make those minimum payments because your credit score just
plummets when you start missing payments or making them late and then that
messes you up for all different types of things down the road. If you want to
get a loan for a car, for a house etc. or for college. You also talk about not
necessarily putting money in the bank and that we should be looking at other
kinds of accounts, like money market accounts, and that you can get more
interest. Can you talk about that? Where should people be looking to keep their

Bach: Yeah sure. The
banks right now, in some cases like for checking accounts, are paying 0.001%
and are basically charging you to have a checking account. At the same time there
are online banks or online saving accounts or online money market accounts and
they’re paying up to one and a half percent. So, I suggest different websites
that you can go and look at, to shop online for different options that are
available to you. I don’t tell you which one to use because you’ve got to go do
your own research, but I will tell you that there are online saving accounts
are they paying up to one and a half percent that are ten times more than what
might be paid by your local bank.

Hoff: It’s so incredible
when I think about, when I was growing up, how much interest you would be paid
if you put your money in the bank. But even that one and a half percent can make
a big difference if you have a significant amount of money saved up in your
bank account. Don’t leave free money on the table.

Bach: Even if you have
ten thousand dollars in savings at the bank, and they’re paying you 0.001%, so
you’re basically making like $10 or you go and you move it to an online bank -
like Goldman Sachs has launched a new online banking and it’s called,
and right now they’re paying 1.5 percent. You know that’s huge right? Those are
the kind of things with just a little bit of shopping, you know that’s $150
bucks more in your pocket at the end of the year.

Hoff: As you talked
about earlier, even that $150, you invest that in a fund and you just let it grow
and it becomes a lot more money. So it might not make a difference to you now
in your immediate life but it could make a big difference down the road. Again,
take every dollar seriously. I think you make that point very well in your book.
You also talk about building a dream basket; what is that, and how do we build
it with our partner?

Bach: So, first I go to
the retirement basket and then I go to the security basket. In the security I
talk about three key things with your insurance: how much you need, how much
money you should set aside in case of an emergency and the importance of having
a will. After that I turn to the dream basket. The dream basket is really about
five years between now and retirement. There’s a whole lot of life and a whole
lot of living that you want to do. So tell me what your dreams are and I’ll
tell you how to get them, how you’ll pay for them. Some of them are like, “Gosh,
it’s really our dream to go to Europe and we want to spend four weeks and then
we want to go to Greece to travel to Greek Islands.” OK, great. Go to a travel
agent or go online and tell me how much is going to cost. Do the research, get it
very specific and come back so we can take a look at that. They say the trip is
going to cost $9500. Now let’s look at how long
it’s going to take you to save $9500. Open an investment account, save money
every two weeks from your pay check automatically, put the money into an online
account where you can save and invest automatically and let’s come up with the twenty-seven-month
plan. I am being very specific here; in twenty-seven
months, based on how much you’re making, you put the money aside and you
guys will be able to go to Greece. Let’s name that account your Greece Account,
and that’s a dream account. Couples love this, and I see for couples, what they
enjoy the most is their dream account. That’s what really gets them excited.

Hoff: Absolutely, and
like you said there’s a lot of life to live before retirement, so it’s making
sure that you’re planning for that. You really go into how to plan how to
organise, how to keep these different baskets so everything is getting fed, the
need to be fed at the same time you’re building towards the goals that will
really make a difference in your life as you head toward retirement. What are
three things that a couple listening to this can do right now to get them on
the path to being in a rich and fulfilled relationship?

Bach: Wow, three specific
things. So the last chapter of the book is called, How to Plan a Money Day; you
sit down together and you start to talk about what is that you both want. So
take a book like “Smart Couples Finish Rich” and use something like this as
your planning guide to have your first ‘money day.’ I literally walked you
through the steps of how to have your first ‘money day,’ then once you have
this ‘money day’ I recommend using the file folder system I created which has
these thirteen file folders to get your financial life organized at home. It
will take you less than an hour to do and doing that is a great project do
together as a couple. The third thing I would do is I would agree on pay
yourself first. Come up with a goal for 2018 on what you’re going to pay
yourself first, automatically agree to it as a team and then go do that. Then
I’ll throw a fourth one in. Start tracking where your money goes; download an
app that does this for you. One of the apps that I’m a huge proponent of is Clarity
Money; these guys are just phenomenal. I invest in this company; you can
download the app and in minutes you can see where all your money is going once
you link everything. You can link your credit cards, you can link your bank
statements, and one of the special features in Clarity Money is a feature that automatically
shows you where you’re spending money. It lists and summarizes for you all the
things that you signed up for and then it has next to it an unsubscribe button.
So really fast way to cut expenses is to download the app, see where you’re
spending money automatically and then sit down together and be honest. I’m
embarrassed to admit this but there’s this big article on Huffington Post about
me because I told this story before that I downloaded this app and one of my
expenses was Equinox, my gym in New York and I also
have a gym in my building. So I was working out with Equinox a couple times a
month and looking at my app and it’s telling me that the cost is two hundred
some odd dollars a month and I’m like why am I paying for this. So I made a
phone call and disconnected that. Well that’s over $2400 a year now in savings;
that’s twenty-five thousand dollars over a decade.

Hoff: Those are
absolutely great tips; and I love the idea that you can just unsubscribe like
that with a click of the button because I don’t even know what I’m subscribed
to. Everything is so subscription based now that you join and it’s $10 or $15 a
month and you kind of forget about it. But it can make a big difference in the
long run, especially if you invest that money instead. Finally, our show is
called Charged Up, you’ve been doing this for a while now and you’ve written so
many books, what charges you up about helping people gain financial freedom?

Bach: That’s a great
question. I have written twelve books, which is kind of amazing to me, because
I’m working on two more right now. I’m going to have fourteen books out by the
end of next year. What charges me up at this point is hearing people’s success
stories. That has been my fuel for over twenty years; in the books, I have an
and we’ve gone through like thousands and thousands of e-mails from people
thanking us for all these books that changed their lives. I think what keeps me
going every day is that the stories you contribute become more specific and
significant. I happen to be sitting here on Amazon right now, looking at the
reviews for “Smart Couples Finish Rich” and
somebody just posted a review that she had credit card debt and read “Smart
Couples Finish Rich” and now has over $700,000 in savings. That’s amazing right
and the fact that people can send me e-mails, they can give me reviews that are
so specific. It’s not just like, “I read your book and thank you it’s good.” It’s
like, “David I saw you on Oprah, I saw you talk about the ‘Automatic
Millionaire,’ and today I have a million dollars because I did exactly what you
told me to go and do, it was easy and it worked.” Not every story is a million
dollar story, but I’ve had people come up to me in tears at the airport and
tell me they’re in credit card debt on the verge of bankruptcy and they had
given up hope and then they read one of my books and that they heard a podcast
like this and it changed their whole life and they just wanted to thank me. I
think that is what charges me up. I feel really lucky that I’ve been able to be
of service for so long to so many people and I’m just grateful that I got to do
something with my life I love to do and that’s helping a lot of people. That’s
been the best.

Hoff: We’re grateful too.
Your books are fantastic; it’s a very cheap way to have a fantastic financial
advisor and just working through the book. I mean, I have the digital version
and I’m actually going to go buy the hard copy so I can sit down with my
husband, we can do all of these things and make sure that we’re on track and
ready to go, because who doesn’t want to be rich when they’re ready to retire?
David, thank you so much for joining me today and it’s really been a pleasure
to talk to you.

Bach: Thank you. It’s
been my pleasure. I really appreciate the time and continued success to you and
your show. I know it’s going so great and I’m so happy for you, so thank you so


See related: Charged Up! podcast: Retiring with enough money, Charged Up! podcast: The philosophy of life planning

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