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3 Painless Habits That Build Wealth with David Bach’s “Latte Factor”


Hey, it’s Marie Forleo, and you are watching
MarieTV, the place to be if you want to create
a business and life you love.
Now, if money is an area of your life that
you want to get better at, today’s show is
a must watch.
David Bach is one of the most trusted financial
experts, and bestselling financial authors
of our time.
He’s written nine consecutive, New York Times
Bestsellers, with over seven million copies
in print.
Including the titles, Smart Women Finish Rich,
The Automatic Millionaire, and Start Late,
Finish Rich.
In addition to his books, David has helped
millions through his seminars, speeches, and
media appearances.
He’s the co-founder of AE Wealth Management,
one of America’s fastest growing financial
planning firms, and the founder of Finish
Rich Media, a website dedicated to revolutionizing
how people learn about money.
David, thank you so much for coming back.
You know how much I adore you.
I’m so excited to be back with you.
Thank you for having me back.
First of all, The Latte Factor.
The Latte Factor.
This book is amazing.
I texted David after I read an advance copy
and it made me cry at the end.
We’re going to talk about that.
I highly, highly recommend this book for you,
and for everyone you know.
David’s been on the show before.
We’ve talked about money before.
It’s one of my favorite topics in the world.
And, this book is perfect.
Especially, I feel like, for people who are
intimidated by money, or they’re afraid to
dive in, or everything just feels so overwhelming.
Books that are 600 pages, which again, I’ve
read a lot of them.
Even thicker books of yours, that are full
and comprehensive.
This one, you can read in basically an hour,
an hour and a half, and it is life changing.
Before we dive into money, I actually want
to talk more about the book itself, and books
themselves.
As you know, I’m at the tail end, my book
will be out September 10th.
Everything is Figureoutable.
My goodness people, lessons––
Great title, by the way.
Thank you.
I’m so excited for you.
Thank you.
Lessons upon lessons upon lessons.
And I wanted to highlight this, because I
don’t think people understand.
You had…
How long have you wanted to write this book?
14 years.
14 years.
Literally from the moment I did a show with
Oprah, on the Automatic Millionaire, in which
we talked about on a previous show with you.
We did an entire segment on the Latte Factor.
Together, Oprah and I.
We did a review of a young woman, who didn’t
believe she could save any money.
Showed what her latte factor, and showed,
on stage, what it could be worth.
That reveal was where we pulled back a sheet
that was covering over a quarter of a million
dollars in cash.
And the audience did exactly that.
It was real money.
I really said, I’m saying sober, I’m like,
“This is real money.”
It was that aha moment.
And I basically came home and I was like,
“I need to figure out a way to write a story
that’s shorter.
That’s simpler.
That’s easier.
A parable.”
I literally said to my publisher, “I want
to write the who moved my cheese of money.
I want to write a book that…
98% of people won’t read a book on money,
I want to write a tiny story.”
They were like, “Yeah, yeah.
No.
No.
Not so much.”
Right.
I kept having this idea, and it kept, year
after year, throwing it back out there.
They’d say, “No, not so much.”
That’s what happens sometimes, by the way.
People think, “Oh you’re an artist.
You’ve created a certain amount of success,
and then people just say yes to you.”
But, it’s not always what happens.
I wrote seven more books before I finally
did this one.
Again, guys, like David Bach, nine consecutive
New York Times Bestsellers.
Millions and millions of copies that he’s
sold.
And his publisher still said, “No, I don’t
think so.”
You actually took a different approach with
this, right?
You said, “This is the first book that you
wrote first, before selling it.”
That’s exactly right.
I finally, I reached that point.
Sometimes you have a dream, and after you
keep hearing no and you keep hearing no, that
dream sort of dies off.
What I always tell people, “If it keeps
coming back, that’s your soul talking to you.”
If there’s something that you really want
to do, it’s almost like you can’t let it go.
That’s your soul saying, “You have to do
this.”
I finally hit this point where I’m like, “If
10 years from now I haven’t done this book,
I’m going to have serious regrets.”
Yes.
John Mann and I, my co-author of this book,
I never had a co-author.
He wrote a great book called The Go Giver.
Loved it.
I had done a testimonial for that book, well
over a decade ago.
I had said to John, “I have this idea for
this book called The Latte Factor.
Where we can teach people all over the world
that they’re richer than they think.
That they’re more powerful than they know.
That small amounts of money can change their
life.
I don’t have the whole idea, yet.
When I have the whole idea I’m gonna call
you.”
I finally called him and I’m like, “I have
the idea.
You gotta come to New York.
I’m going to walk you through the story.”
Literally, I walked him through the story.
The story starts in the oculus.
And I said, “Here’s the thing.
I don’t want to sell the book first.
I don’t want to do the typical book proposal,
sell it, write it.”
I go, “I want to work with you on this book,
like a piece of art work.
Until I tell you it’s ready, it’s not ready.”
It’s literally like a piece of artwork.
“If it takes a year, it takes a year.
If it takes two years, it takes two years.
Once it’s ready, then we’ll go sell it.”
That’s what we did.
That was the most beautiful experience I’ve
had as a writer so far in 20 years, because
it didn’t have a deadline.
And I had a partner that heard me.
When I said, “We’re not turning this in
until it’s perfect.”
We just kept redoing it and redoing it and
redoing it.
There are sentences in this book that we finessed
for weeks.
Yes.
People think these little books are easy.
That you just boom, boom.
We spent over a year and a half writing this
book.
Yeah.
I think sometimes, because I’m someone who
pays so much attention to quality over quantity,
and we had a similar experience.
I’d just gone through the copyediting process
for Everything is Figureoutable, and the time
that we spent on three sentences, coming back
to it.
To get it just right because it’s so important.
It’s probably true for you guys too, to get
that message right.
To make sure that it lands in someone’s heart
and in their mind, so hopefully there’s a
transformation in a way that no other words
could accomplish.
Right.
It’s so exciting.
I just wanted to share that with you guys,
because sometimes you don’t get to hear the
behind the scenes.
It’s just like, “Oh my goodness.
Millions and millions of copies, and all these
bestsellers.”
And you never get to hear about what happens
on the back side, that there’s a struggle.
And also, with seven million books out, I
took my son Jack, who’s 15, with me on the
book pitch process.
And he’s like, “Dad, is this scary for you?”
I’m like, “Yeah, because at the end of the
day, I still have to sell it again.”
I have to sell the vision.
And I think, what I tell people who are entrepreneurs,
all these people who are watching you, wanting
to build their own business, “The sales process
never ends.
You have to believe in your dream, more than
anyone else.
If you don’t believe in your dream, nobody
else is going to believe in your dream.
And the fact that people will say no to you,
doesn’t mean that no is right, it just means
it’s not right for them.”
Yes.
As I took Jack on this pitching process and
he watched me, he’s like, “Wow, Dad.
That was just amazing seeing you share this
message so passionately.”
I’m like, “That’s what I do, Jack.
I love this.”
I feel like it applies too, to people that
aren’t entrepreneurs.
When you have a dream, if you want to sell
your dream to your family, or you want to
sell your dream to your community, or you
want to sell your dream––
Totally.
To other people in whatever way you’re bringing
a dream to life, you do have to keep on it.
Even in our partnership, selling your partner
on the vision.
We’ll talk about where you guys…
Not that that’s too hard of a sell.
David’s gonna spend some time in Italy, which
is amazing.
We’ll talk about that later.
Okay.
Now, getting into the book itself, why is
it a parable?
You felt like it would be the easiest and
most digestible, and people wouldn’t resist
it?
Well, stories transforms people’s lives.
Facts tell, stories sell.
Stories transform people’s lives.
And I’ve always had stories throughout my
books.
Even with all the books that I’ve sold, the
reality is that I believe, Marie, that 98%
of people will never read a financial book.
They need a financial book.
We’re going to talk about the reason why people
need this so much, but most people won’t read
a book on personal finance.
I kept asking myself, “How can I package something
up that somebody can read in an hour?
That can completely change their whole life
when it comes to their money?
That could free them to go for their dreams?”
And then also selfishly, “How can I write
a book that my 15 year old son would read?”
And this is the first book that Jack’s read.
That’s amazing.
Zane, my stepson, I introduced him to your
book when he was about 13.
He rolled his eyes, understandably, and I
was trying to show him the table, some of
which we’ll go in later.
I’m like, “Zane,” he had just had this first
job, and there was this check of money.
And I was like, “Zane, look.
If we invest this…”
He was, again 13 at the time––
What Marie’s talking about right now, you’ll
cut this in, this is the chart.
Yes.
That shows saving $2000.00 a year, starting
at the age of 19, only saving it until the
age of 26.
That’s $5.41 a day.
By the time the person reaches 65, they have
a million dollars.
And here’s the thing, Marie, your 13 year
old?
Yeah.
This chart at the end of…
Jack read this book in two hours and turned
to me on a plane flight.
I’ll show you the picture of this later.
He turns to me, and he goes, “Dad, is this
real?”
I go, “Yeah, it is real.”
And he goes, “How do I get one of these accounts?”
He goes, “I could do this.”
He goes, “It’s $5.41 a day.”
He goes, “You started this at 19.
What happens if it’s 15?
You should rerun the numbers.”
I go, “I actually have that chart too.”
He goes, “Let’s open up…
” I said … We’re gonna do a Roth IRA for
him.
Here’s the thing.
This little chart is going to change his life,
but it changes anybody’s life.
It happens to be this little chart was shown
to me at 26, at Morgan Stanley, by a financial
advisor, retiring at 61, who told our training
class, “At a minimum guys, this is what you
need to do.”
Something as simple as that little chart can
change anybody’s life who’s watching this.
When you look at the math––
Yes.
It’s the math that people don’t understand.
I put all my best charts in this book.
There’s a chart that shows somebody starting
at 25.
And they save $300.00 a month.
By the time they reach 65, they’ve got $1,913,000.00.
Another person waits until 35, they’ve got
$684,000.00.
It’s only 10 years later.
Big difference.
Big difference.
Next person waits until they’re 45 to save.
They’ve got $230,000.00.
The next person waits until they’re 55, and
they’ve got $62,000.00.
That was a lot of math to just show, but what
happens when you look at this, you just go,
I gotta get going.
That’s really the core message of this book.
Wherever you are right now, get started.
Yes.
Because small amounts of money can change
your whole life.
Absolutely.
It changed my life, too.
And again, if you guys didn’t see our first
episode together, you will.
We’ll link it below.
I first read David’s books, it was Smart Women
Finish Rich.
It totally opened my eyes.
I was like, “I’m gonna get my shiz together.”
Now, look at her.
Look at her.
You know me, I’m an action taker, right?
I know you are.
I saw those things, and it really opened my
eyes.
I was like, “I can do this.
I will do this.”
And I have done this.
This is why I get so excited to talk about
money, and we’ll dive into some of those scary
statistics right now.
I watch the news sometimes, and I see these
reports about how these incredible, good folks,
all across our country, and all across the
world, can get taken out.
One bad decision.
Being ill.
An accident.
Things that happen.
Some of the stats right now, let me see where
I had these.
I think it’s seven out of 10 people describe
themselves as living paycheck to paycheck.
And right now, half of the people here in
the US could not find an extra $400.00 in
the event of an emergency.
And I love…
You gotta take one breath there for a second.
Because what you just said, I’ve talked about
this now for four years.
It’s actually what led me to write this book.
Four out of 10 Americans, almost half of America
today, cannot get their hands on $400.00 in
case of an emergency.
That means the average American has less than
six days of expenses set aside.
Six out of 10 Americans, Marie, have less
than a $1000.00 in savings.
Eight out of 10 women today, in this country,
are living paycheck to paycheck.
When you look at how this country is being
torn apart politically right now and how divisive
this country’s becoming, it is because people
are so struggling financially.
Yes.
That’s why, what happened with this book,
as I went to Geneva and had dinner with Paulo
Coelho.
The author of The Alchemist.
Our friend Brendan Burchard and I went over
and I’d always wanted to meet Paulo.
I had, again, has this dream for this book
for a long time, and over dinner and over
drinks, Paulo looks at me, because his book
was my biggest inspiration, The Alchemist.
He looked at me and he said, “David, what
is the book that your heart desires to write,
that you have not yet done?
And why?”
How’s that for a question, by the way?
It’s a great one.
I proceed to tell him, “I want to write this
book called The Latte Factor, that will translate
all over the world, because so many people
are living paycheck to paycheck.
And they’re struggling.
If I can help free people financially, I know
I can help them fix their lives.”
When you fix your finances, you fix your life.
He looked at me, and he goes, puts his hand
on me and goes, “Then David, you must write
that book.”
And literally, we closed that bar out.
It was like three o’clock in the morning.
I came home, I was on cloud nine.
I came home from that trip and my wife, Alicia,
you know her.
And she said, “What did Paulo say?”
I said, “Paulo said I should write The Latte
Factor.”
She’s like, “I’ve been telling you that for
10 years.
You go to Geneva to hear that.”
I’m like, “Well, it is Paulo Coelho.”
Yeah.
Absolutely.
For everyone thinking about it, The Latte
Factor you said is never about coffee.
It’s not even about the money.
This is what’s so important, you guys, to
get.
It’s always been a metaphor to motivate and
inspire dreamers to go live their dreams.
This is huge, because this was so much what
I took out of this book of yours, and why
it’s so important.
Let’s dive in.
Because it’s not about necessarily being a
penny pincher, is it?
It’s not.
No.
What The Latte Factor was always designed
to do was be a metaphor that was like a light
switch, that makes people go, “Oh.
I do have enough money to start investing.”
The number one reason people don’t invest,
is they think, “I’m not rich.
I don’t have money.
I can’t get started.”
I started showing the math of $5.00 a day,
if you’re in your 20s, and in this case the
main character is Zoey Daniels.
She’s 27 years old, she’s a millennial.
And I really wrote this book to reach young
people.
To empower the next generation to save and
invest.
She’s 27 years old, she’s working.
She lives in Brooklyn, she’s working in the
Freedom Tower.
She’s in publishing.
She’s an editor of a travel magazine, but
she never gets to travel.
And after six years in the city, working super
hard, making more money, she’s still living
paycheck to paycheck.
And she’s giving up hope, which is happening
to a lot of millennials, by the way.
They’re losing hope.
She starts to meet a series of mentors that
teach her, “If you can afford to go have coffee
every morning at the coffee shop…”
Funnily enough you’ve got this massive coffee
shop now down below this building, which wasn’t
here last time.
“If you can afford to spend $5.00 on coffee,
you can afford to change your whole life.”
And this mentor starts to show her that.
And ultimately, the mentor who happens to
work at a coffee shop says, “You don’t actually
have to give up your coffee.
It could be something else.
What you need to realize, is that you have
to become financially selfish.
You have to put yourself first.
It starts with small amounts of money.
Like $5.00 a day.
$10.00 a day.
$15.00 a day.
It’s building the muscle financially, that
you deserve to keep.
You deserve to keep part of your paycheck.”
He runs her through the math of that.
He’s like, “You’re going to work 90,000 hours
over your lifetime, you need to decide today
to keep one hour a day of your income.”
He starts to walk there through that.
Again, The Latte Factor is a metaphor.
I’m not trying to take your coffee away, I’m
trying to get you to think consciously.
Are you spending money in a way that’s going
to get you closer to your dreams?
If you’re not, you’re trapped.
Big time.
You’re trapped.
And many people today feel trapped.
Yes.
That’s one of the scariest places to feel.
I felt that in my life.
So many people can relate to that feeling
now, where you can’t breathe, and you don’t
know which way to turn.
And you don’t know how to get help.
That’s why this book is so genius, because
it empowers you to help yourself.
One thing that I love that Zoey, the main
character, she first sees this sign.
It’s a message she sees.
It says, “If you don’t know where you’re going,
you might not like where you end up.”
I just want to settle for folks, that are
watching right now, you just heard David say,
this book he wrote this to empower young people.
If you’re in your 50s or 60s, know David’s
got another book that’s called Start Late,
Finish Rich.
We’ll get there, too.
This is really for everyone.
But, there’s never a bad time to take a pause
and say, “Wait.
Have I been intentional about where I’m going?”
That’s the core message of this book.
The core message of The Latte Factor is, waking
up to where you want to go with your life.
Are you actually present right now in your
life.
The book starts with Zoey Daniels coming out
the Fulton Center.
For people who don’t know, that’s the center
right downtown in New York City.
She comes out in the Oculus.
Underground, on the way to the Freedom Tower,
there’s an LCD screen that’s the size of a
football field.
We’re going to do a book signing event there.
Oh, good.
On the LCD screen she sees, “If you don’t
know where you’re going, you might not like
where you end up.”
And she takes the escalator up, above ground,
and she comes out the 9/11 memorial, which
is right next to the Freedom Tower, where
she works.
For six years she’s never really taken in
the 9/11 memorial.
She’s just come up, gone into the office.
And on this morning, she looks at the 9/11
memorial, and she sees people crying.
She sits down on a bench and she asks herself,
where is she going with her life.
And that’s the first chapter of the book.
That’s a question we all need to be asking
ourself, at any age.
That’s right.
At any age.
Where are you going with your life?
Because things can change like that in a moment.
And this is a book about not living life with
any regrets, which we’ll talk later about.
My grandmother’s story, how I weave that in
there.
I want people to not live a life of regrets.
Yeah.
And I want you to be conscious in your life.
And so the money is just a tool to start to
free you up, to become more present in your
life, so you can think about these bigger
things.
Yes.
I love that her first mentor, Henry, replies,
when she says she can’t afford a painting.
When she’s in the coffee shop and she’s looking
at this beautiful travel photograph, actually
not a painting.
Henry replies, “You’re richer than you think.”
And he says, “For most people, more income
wouldn’t help their situation at all.”
Talk to us about how we need to get out of
this mentality, “If I just had more money.”
Well, it’s really the American trap.
We are trained pretty much from birth here,
go make more money, go make more money, go
make more money.
And as we make more money we’re then marketed
to, to spend more.
What happens when you make more money, is
you have what’s called lifestyle creep.
It’s not intentional.
It’s that you’ve been marketed to.
As you’ve been marketed to, you’re supposed
to have a nicer car.
You’re supposed to have a bigger home, you’re
supposed to have fancier clothes, you’re supposed
to have these brands.
As we make more…
We’re all guilty of doing this.
I’ve done this myself.
As we make more money, we increase our expenses.
New York City, where we are right now, is
the classic example.
It’s where people make a whole lot of money,
and you see these articles where people are
making a lot of money, and they’re still living
paycheck to paycheck.
Their stress level is even higher, and their
unhappiness level is even higher.
If you work really, really hard and you keep
making more money and making more money, and
you’re not saving anything, you start to go,
“Is it worth it?”
Yes.
The secret to actually being happier and living
rich, again, the message of this book is to
live rich now.
The secret is, and it’s not going to sound
fancy here, it’s to actually live below your
means.
Yes.
As you grow your income, if you can keep your
lifestyle the same, you start to really have
freedom.
Yes.
It’s funny.
We’re going, as you know, we’re going to Florence.
And as we were going…
My wife’s in real estate.
As we were about ready to go to Florence,
my wife is looking at apartments that cost
the same thing as what they cost in New York.
And I said, “No, honey.
We’re going to Florence.
We can reduce our cost of living.
I am sure in half.”
And she’s like, “Oh, I didn’t know you wanted
to reduce our cost of living.”
I’m like, “Yeah.
I do.
We’re going to Italy.
Save us some money.”
Our apartment’s costing one-third what our
apartment here in New York costs.
Amazing.
It was by changing the paradigm, right.
We could have just kept spending the same
amount of money.
“Let’s go to Florence, and let’s focus on
experience, not on stuff.”
Yes.
And that’s another thing, too.
We’ve been in this whole downsizing mode.
You start to realize, we accumulate so much
stuff that we don’t need.
As we’ve downsized to get ready to move, and
all the stuff has gone off to storage, three
or four months ago we sent all this stuff
to storage.
I don’t even know what’s in storage anymore.
Why did we need all this stuff.
Then paying for the storage to pay for the
stuff that you forget is even there.
I loved the one line in the book.
It says, “Everyone spends money every day.
And as they do, they’re building wealth.
Everyone builds wealth.
The only question is, for whom?”
I was like, “Bam.”
That is a question.
What does that mean?
Well, where that example comes from is actually
my grandmother teaching me about money starting
at the age of seven.
I learned about money from my grandmother
Rose Bach.
She was broke at 30.
Didn’t have a college education, worked at
Gimble’s Department Store, sold wigs.
Poor.
And at 30 made the decision she was tired
of being poor.
She was tired of being trapped.
Made a decision to start brown bagging her
lunch, all of her friends teased her.
“Why are you brown bagging your lunch?
Come out to lunch with us.”
She said, “I’m going to start saving and investing.”
And she saved $1.00 a week.
Through that effort, started investing, and
over her lifetime, I always tell that, over
her lifetime, decades, she became a self-made
millionaire.
And then she taught myself, and my sister,
my father, how to invest.
She helped me buy my first stock at seven.
At seven years old, at McDonald’s, she taught
me this lesson.
The lesson was, you go to McDonalds and she’s
like, “David, you can be a kid who comes and
eats here.
You can be somebody who works here for minimum
wage.
Or you can be somebody who owns this place.
Minimum wage, that person whose working for
minimum wage, very hard way to make a living.
You’re here as a spender, eating McDonalds,
which you love, but you could also make money
from every single person that’s here.”
She’s like, “I’m going to teach you today
how to own McDonalds.”
And she did.
She took me home, opened up the Wall Street
Journal, circled MCD, explained to me how
to buy stock, explained to me how to be an
owner.
Not a buyer.
She’s like, “It’s fine, by the way, if you
want to go to McDonalds once you own it, you
can make money from yourself.”
The example that’s in the book, actually,
is Starbucks.
Ironically, right?
Because the mentor takes her to Starbucks
and says, “I started buying…”
I don’t want to give the whole story away,
but basically says to her, when Starbucks
opened, he had a coffee shop.
And when Starbucks opened all of his friends
were complaining about Starbucks opening.
He’s like, “I’m just gonna buy the stock.”
By the way, if you bought $1000.00 worth of
Starbucks stock when Starbucks started today,
you’d have over a quarter of a million dollars
in stock.
I’m like, “Great.
You want to go to Starbucks and have coffee,
then buy the stock.”
If you’re going to have a Netflix problem,
where you…
Then own stock.
Own what you use.
Because investors get rich.
The other example that gets used here is there’s
two escalators to wealth in America.
Really, the world.
The two primary escalators to wealth, its
own stocks and owning real estate.
Zoey’s mentor Henry teaches her, “You’ve got
to be in the game of owning stocks and owning
real estate.”
What’s happening, Marie, right now, in this
world, is everybody is getting…
A small percentage of people are getting richer.
And everybody else is getting poorer.
The game is rigged.
And the game is rigged for rich people.
And in order to be one of those rich people,
you have to own two asset classes.
Real estate and stocks.
You have to.
If you’re not, you’re not on this escalator.
Everything is set up for those two asset classes
to go up.
The taxes are set up, to go up for those people.
And the Trump tax law change, helped the stock
market keep going.
I’m going off on a tangent here, but it’s
like you need to know how to play the game.
There’s a game being played that involves
money.
And if you don’t know the rules, you’re going
to lose the game.
What I tried to do with The Latte Factor was,
here’s a book that anybody can read.
My 15 year old read it, you can read it in
less than 90 minutes.
And you can know the 99% of basic rules you
need to know about personal finance to win
at the game.
Yes.
I want to talk about the myths that Zoey’s
other mentor, Barbara, her boss teaches her.
One myth, most people think they have…
Basically, the myth is you need to make more
money and then you’ll be rich.
And I loved this.
Most people think they have an income problem.
They don’t.
They have a spending problem.
That was amazing.
Myth number two, it takes money to make money.
Like we’ve talked about, five, $10.00 a day
can absolutely change your life.
And then I loved myth number three, someone
else will take care of it for you.
This I think is so big for so many people.
Assuming that whether it’s their boss, or
an accountant, or a lawyer, or a husband,
or a wife.
That someone else is managing it and taking
care of it, and just burying your head in
the sand.
Yeah, two things.
Let me just go the math one more time.
We were talking about it before we started.
The $10.00 a day.
Let’s go to that, yeah.
The $10.00 a day, if you could just save $10.00
a day, and you invested it.
You paid yourself first in a retirement account.
In 40 years, we show you at 10% you could
have almost two million dollars.
It’s like one million…
897…
Thousand.
224.
Thank you.
Some go, “What?
$10.00 a day and in 40 years I could have
$1,897,000.00?”
Yeah, you could potentially.
By the way, 10% is what the stock market has
averaged since 1926.
People go, “I could never get 10%.”
Okay, fine, you can reduce the rate.
Maybe it’s…
And I give you the numbers.
It could be 9% or 8%, or 7% or 5%.
Even half, you’d still have almost a million
dollars.
$10.00 a day.
That’s a great place to start for somebody
who’s not starting.
Now, for a whole lot of people watching, it
could be $20.00 a day.
Or $30.00 a day.
It’s coming up with your daily dollar amount.
One thing that I think is so important, is
to come up with that daily dollar amount.
That’s the daily dollar amount that can change
your life.
Yes.
And we want to challenge people right now,
right?
Should we just do it?
Yeah.
Let’s do it.
What I’d like to see people do, let’s just
use $10.00 a day, for example.
But you can pick any number.
Is come up with…
I would give you 100 day challenge.
It’d be cool if your community all did this.
Pick a number, and challenge each other to
save this amount for 100 days.
At $10.00 a day, if we could get everybody
watching to save $10.00, in 100 days you’d
have more than 60% of Americans in savings,
which is insane.
That’s amazing.
Right?
For some people, they could go, “Well, what’s
$20.00 a day or $30.00?”
It could be a dollar a day.
I think the thing that’s been so cool for
us, we did a prelaunch of this book with our
community, on our website.
It’s thelattefactor.com, and we got a bunch
of people on Facebook community.
There’s like 1300 people right now on this
insider group.
And they’re all supporting each other.
It’s been so amazing to me, to see everybody
cheer each other on.
I know your community does this, so I think
if you guys could all go do this.
Pick a dollar amount, and challenge each other
for 100 days-
100 days.
And then just keep checking in with each other.
“Hey, I’m on day 27.
Here’s what I’ve got.”
Yes.
“I’m on day 42.
Here’s what I’ve got.”
“Hey, you know what?
I was doing great, and I got off track.”
“No worries, you can get back on track.”
It is, in a way, exercise or dieting, it’s
this daily thing.
You can get off track, but you can get back
on track.
That’s right.
The thing I love, too, about bringing in that
community piece, especially around money,
there’s so much shame around the topic of
money.
And people are so afraid of it.
Understandably, and people feel so bad.
Totally.
And feel so guilty, and feel that they’ve
messed up and maybe they’re beyond, “Oh no,
I’ve made so many mistakes in the past.”
“No, no, no.
Let’s start fresh right now.”
And that bit about community.
Guys, take the challenge.
100 days.
Whatever your number is, we’re throwing out
10, but it could be one, it could be three,
it could be 20, it could be 30.
Whatever it is, go for it.
So we don’t go past this, I want to talk about
not depending on somebody else.
I very intentionally focus that part on women.
I’ve been a crusader for women and money for
26 years.
I’ve been teaching women and money seminar
programs, and Smart Women Finish Rich has
been out for 20 years.
I don’t care if you’re married to the local
bank president.
As a woman, you’ve got to be in charge of
your finances.
80% of men die married.
80% of women die widowed.
And the bulk of women who end up poverty-stricken,
were not poverty-stricken before their husband
died.
There’s a message in this book for women,
also, very intentionally.
That you have to be the master of your own
money.
Yes.
That gets an amen from me.
Every day of the week, yes.
It’s not guys that I don’t want you to be
in charge of your own money, too, but this
has been my core passion for 26 years because
of my grandmother.
You’ve got to be in charge of your own financial
life.
And you need to take power over your own financial
life.
You talked about being intimidated and scared
and feeling guilty.
Here’s the truth.
Everything that’s in The Latte Factor should
have been taught in school before you got
out of high school.
Yes.
If it was, everybody would do better.
Because when you know better, you do better.
It’s not your fault if you didn’t know this
stuff, but you can fix it.
Yes.
Now, it’s your responsibility.
You can fix it.
As an adult, too, I know I get so passionate
about women and money because it’s like for
millennia, we weren’t allowed, not allowed
to own property.
I was just working on my book, and I think
it was as recent as in the 1970s, in some
states, here in America, a woman couldn’t
get bank credit unless she had her husband’s
permission.
It’s like, “What the…
Are you kidding me?”
My grandmother when she went to the first
brokerage firm, after she saved all the money.
Yes.
The broker said to her, “We don’t open accounts
for women.
Come back with your husband.”
When I tell that story, the audience just
goes, “What?”
That’s how it was not that long ago.
Yeah.
And so many of us, as women, are still carrying
around vestiges of those old ideas.
Generational.
Generational.
Generational.
Inner poverty.
Based on institutional structures, and we
have to change that now.
That’s why I get so excited about this book.
Thank you for driving that home.
What I love, also, about all of your work,
is it’s clear, and it’s actionable.
Let’s talk about the three secrets to financial
freedom.
I think what’s great about these secrets is
they’re hiding in plain sight.
Right?
They’re not really secrets.
Number one, pay yourself first.
What’s that mean?
Pay yourself first means that when you get
a paycheck, the first person who gets paid
is you.
This is the single most important financial
lesson that you could ever learn.
You have to become…
The book, financially selfish.
You have to decide that that first hour day
of your income, it’s coming right off the
top to you.
If you have a job, and you go to work at nine,
and you work until five, the first hour day
of your income, gets taken right off the top,
goes into a retirement account before you
can touch it.
Happens to be the math on that, is 12.5% of
your gross income.
You start saving one hour a day of your income,
when you’re in your 20s, you’ll be financially
free for life.
Now, as you get older, if you’re behind, you
need to save more than that.
It can go up to two hours a day.
But it’s a mindset of, “I’m going to get paid
first.
I’m going to pay myself first before I pay
taxes, before I pay my mortgage, before I
pay rent.
Before I pay my bills.”
Most people do everything…
They pay all their bills first, they try to
save last.
It doesn’t work.
And what we know is the way people in America
who become self made millionaires, specifically
in retirement accounts, there’s a formula.
It happens to be, it’s 14% of your gross income.
The average self made millionaire that’s become
a millionaire by the age of 59, according
to Fidelity, saved 14% of their gross income.
That’s a little over one hour a day of your
income.
Henry walks Zoey through the math of this,
but when you think about it in terms of time,
and I know a lot of people who are watching
are self employed, so there’s going to be
all kinds of questions.
How do I do this, I don’t have a salary?
You have to think about it still the same
way.
Money comes in, you’ve got to pay yourself
first.
And it’s hard when you’re self-employed, because
your income’s not consistent.
But, you have to decide, you have to decide.
Check comes in, percentage gets taken right
off the top, goes into another account that
I can’t touch, to pay myself first.
I don’t even care if it’s just one or 2%.
It is a mindset and a discipline.
You do that, you put yourself first, you’ll
become financially free.
Secret number two.
I love when you do that.
Don’t budget.
This is a good one.
Make it automatic instead.
This is secret number two.
Don’t budget because budgeting doesn’t work.
If it worked, everybody would do it.
And everybody would start them, and everybody
would stick to them.
I’ve spent 26 years in the financial service’s
industry.
My first nine years were at Morgan Stanley.
What I saw first hand, in nine years, I only
had one client write a check, discipline wise,
from budgeting, for six months or more.
Everybody who saved, all my clients that really
saved money, it was all automated.
The message of budgeting is, instead of budgeting,
you need to save automatically.
Whatever you’re saving for.
Saving for an emergency account, save automatically.
Money gets moved automatically into emergency
account.
Want to save for a dream trip to go to Italy,
money gets moved automatically into your Italy
account.
You’re gonna save for retirement, it gets
moved automatically into retirement account.
And so, it’s this concept of instead of using
discipline, and––
Willpower.
Willpower.
Remembering.
Driving yourself crazy because budgets actually
do drive couples to fight.
If instead you can focus on what you’re going
to save automatically, and where, you can
eliminate all the fights.
Love it.
How about live rich now?
I think this is the big one, because you said
the first two secrets, pay yourself first
and make it automatic, those are the how.
This is the why.
Figure out what matters, and follow that.
Yes.
And it gives me chills because I talked about
my sabbatical that I had taken last time I
was on your show, which a lot of people actually
really resonated with.
Yes.
The idea of living rich now, before I go onto
the sabbatical discussion, the idea of living
rich now is, what do you really want to do
with your life that you’re not doing?
And how can you live rich today?
Instead of thinking you need a bunch of money
to someday live rich, what could you do today
to live rich?
What’s something that…
I wake up in the morning, and I meditate.
That’s a live rich moment for me.
I write in my journal, and I write down my
gratitude in the morning.
That’s a moment for 15 minutes I’m very present,
and I’m living rich.
What can you do today, to live rich.
Because the subtitle of this book, “why
you don’t have to be rich to live rich,”
which I thank you for, because we talked about
it on the first show, and it resonated so
much with your viewers.
Going all over the world.
The message of this is that you don’t actually
have to have a whole lot of money to feel
rich.
What you need to do to feel rich, is not feel
trapped.
Because the opposite of living rich, is feeling
trapped.
One thing I tell people to do, think about
what in your life right now is making you
feel trapped, how could you eliminate that?
And what would it feel like to not feel trapped?
What does that look like to you?
What do you need to add to your life today,
that probably doesn’t even take money, that
would make you feel better about your life
today.
That’s living rich.
I love it.
As we get to the end of the book, you start
to explain a little bit about your beautiful
grandmother, again.
Will you share what you talked to her about
at the end of her life?
I’m always going to get choked up thinking
about this.
My grandmother was really my role model and
my mentor.
She lived to be 86.
At 86, she had a stroke.
We moved her into a nursing care facility,
Northern California by my office.
I didn’t know…
I thought that she was going to live forever.
When I was with her at the nursing care facility,
I asked her a question, which was, “Did she
have any regrets?”
The reason I asked her this question, Marie,
is because I was finishing Smart Women Finish
Rich.
Back in 1997.
She knew I was writing the book, and it was
dedicated to her.
I was like, “Do you have anymore lessons for
me?”
And I said, “Do you have any regrets?”
She said, “No.”
Then the next day I came in to see her, I’m
like, “How are you?”
She’s like, “I’m terrible.
I was up all night long thinking about my
regrets.”
I’m like, “Oh my God, Grandma, I’m so sorry.”
Then she took me through five of her regrets.
She’d had a stroke, so she couldn’t speak
very well.
She went through what they were.
All the way back to being a teenager.
And she said to me, “The lesson’s not in
what I’m regretting.
The lesson’s in why I’m regretting it.
That’s what I want you to hear from me right
now.”
She said, “My regrets are, all those moments
I came to a fork in the road, where I had
to make a decision.
Do I go this way where the gold is, where
what I really want to do is this road, but
that’s where the risk is.
Or do I take the safer road?”
She said, “At every one of those points in
time, I made the decision to take the safer
road.”
She’s like, “I am dying right now.
I’m never going to leave this bed.
And I’m never going to know what could have
been.”
She said to me…
She said, “I don’t want you to make the same
mistake.”
She said, “When you come to the fork in the
road there’s going to be a little boy inside
of you that wants to go do this.
And then there’s going to be this big boy
that’s scared.”
She’s like, “Don’t listen to the big boy.”
I went back to my office, and I actually broke
down.
Like here.
I’m so embarrassed.
No.
This is life.
I broke down crying.
Sitting in my car, crying in my office, and
I looked in the rear view mirror.
I wanted to leave Morgan Stanley.
I wanted to go spend my life making a difference,
teaching women, at the time, specifically,
to be smarter with money.
I felt trapped.
I wanted to get out of this corporate box.
I had this bigger dream.
And I looked in this rear view mirror, and
I looked at myself after breaking down crying.
I was like, “Okay, David.
In three years, we’re going to get you out
of here.
We’re going to go for your dreams.”
That led me to four years.
That led me to being in New York… leaving
Morgan Stanley, moving to New York, writing
13 more books, and spending the last 18 years
doing this.
And the most amazing part of this story is
that…
My son, Jack, read this book on this plane
flight, two weeks ago flying home from Utah.
After he talked about the IRA account, I said
to him, “What was your biggest takeaway from
the book?”
He looked at me and said, “You know the story
about your grandmother?”
I go, “Yeah.”
He goes, “The takeaway was to take risk.”
And then he said, “You know, Dad…”
He was giving me a choice about going to Florence.
We’re getting ready to move to Florence with
the family for a year.
And the whole, one of the big reasons was
to take him, as a sophomore, to live in Florence
for a year before he goes off to college.
We gave him a choice, which is a huge thing
to give a 15 year old kid.
And he chose, “Yes, I want to go.”
And he looked at me and he said, “Dad, if
I hadn’t chosen to go to Florence, it would
have been my first regret.”
He’s like, “I learned from the book I need
to take risk in life.”
And I was like, “Oh my God.
I did everything I wanted to do with this
little book.
I just impacted my 15-year-old with these
two huge life lessons.”
Yeah.
If I can go just reach some more people now,
besides my 15-year-old son, with this book,
it’ll be amazing.
Millions of people are going to read this
book.
I loved it.
The reason I’m crying now, too, is because
I loved it.
Just to put a little pin in this, are you
listening to the big boy or are you listening
to the little boy who wants to play?
The little boy inside who wants to play.
There’s a little girl inside, or the big girl
inside.
That’s right.
One thing my grandmother said to me, too,
at the time.
She’s like, “It’s not always your own voice.”
That big girl can be your mom.
Or your boss.
Society.
Or society.
That’s right.
Or your tribe.
We can get caught up listening to other peoples
voices and lose sight of our own voice.
I go back to, “You’ve got to listen to your
soul.”
Yeah.
Being present in your life so you can listen
to your soul, and let your soul come out.
And then go play the game that your soul wants
to play.
That’s right.
Thank you so, so much.
I am so thrilled that you wrote this book.
I’m so thrilled we’re having this conversation
again.
Thank you.
You’ve made a huge difference in my life.
A huge difference to our audience.
And I am really, really excited for all of
you guys to get this book, to share it with
the people that you love.
To share it with your kids, with your friends,
with your team, with your employees.
It really is important because yes, money
is an important topic.
It is about freedom.
But, it really, underneath it all, it’s about
listening to that small voice.
Listening to your soul and following your
dreams.
David, I adore you.
I love you.
Thank you so much.
I love you, too.
Thank you.
Now, David and I would love to hear from you.
We talked about so many important things today.
I’m curious, what is the biggest insight that
you’re taking away from today’s conversation?
And most importantly, how can you turn that
insight into action starting right now?
Leave a comment below, and let us know.
As always, the best conversations happen after
the episode, over at marieforleo.com.
Head on over there, and leave a comment now.
When you’re there, be sure to sign up for
our email list and become an MF Insider.
You’re going to get instant access to an audio
I created called How to Get Anything You Want.
Plus, some exclusive content, special giveaways,
and some personal updates from me, that I
just don’t share anywhere else.
Stay on your game, and keep going for your
dreams, because the world really does need
that special gift that only you have.
Thank you so much for watching, and we’ll
catch you next time on MarieTV.
Are you tired of talking into an empty void?
Are you ready for more clients, more sales,
and more raving fans?
Take our free seven-day writing class at thecopycure.com.
Again, the Latte Factor is a metaphor.
I’m not trying to take your coffee away.
I’m trying to get you to think consciously.
Are you spending money in a way that’s going
to get you closer to your dreams?
If you’re not, you’re trapped.

81
Comments
  • A great motivational push to f***ing start saving!! AND of course take more risks and follow my soul❤️❤️ thank you Marie and David

  • Amazing tips 🙌 I’ve started making vids about my journey as an entrepreneur and how I started my e-commerce businesses with no money. Your journey from starting YouTube to where you’re at now is inspiring x

  • I had to laugh at myself because I sat down to watch this with a Starbucks iced matcha latte sitting on my desk hahaha. Oops. Great video, Marie, thanks for sharing.

  • Whenever Ive heard/ watched David speak , nevermind the plethora of amazing knowledge he offers, but you can truly feel his heart and soul in every he says. he seems like such a wonderful man, and incredibly empathetic and caring. thankyou for this video xxx

  • absolutely loved this interview Marie. I am buying his book right away! Can't wait for Everything Is Figureoutable ..xoxo…

  • Brilliant conversation Marie and David as I know its one of my weak areas would this book be worth me reading being age 56 or do you recommend another book to manage and save my money being self employed low income earner, so inspiring guys/gals!! Loved it 🙂

  • Smart Women Finish Rich changed my life many years ago. As a result of using what I learned in that book (on top of already having implemented successful financial planning), I have lived well, earned well, invested well, and have been out of the trap for many years.

  • Love this ALL SO MUCH!! Im going to share this with my little nephew who's 15. I wish I had someone to share this with me at that age. Actually no, I'm gonna buy 2 books one for me and one for him 😍
    Very Stoked on this as a 41yr old, I FINALLY have NO DEBT… car is payed off, visa payed and I lowered my credit available, I have 6 months worth of rent payed and now, I want to keep the momentum going in a positive + self empowering way instead of going to the default to a fear of all of the debit and no money happening again. So my Q to your A would be that…. how to keep this momentum going in small steps and a creative way and being a recovering debt addict (and the fears of falling back into that).
    Much LOVE! Xx

  • Holay crap… " being present in your own like so ypu can listen to your soul" ….. gah! So good. I find we always here " be present, be in the now" … but you just nailed the WHY in that. So simple and a million light bulbs just went off. THANK YOU.

  • My favorite Marie TV video so far:) Thank you Marie and David for your positive energy and digestible knowledge on money.

  • I really appreciate David talking about this book. When he said, "Own what you use because investors get rich". This really hit home for me!!

  • I love this video, many sound advices. Yes, the place to go is definitely stocks & real estate. And nowadays I would add crypto. And yes, let's have our lattes, as long as we generously pay ourselves first it's all good 🙂

  • I loved the idea of taking risk!!! I am definitely a risk taker and could relate! Your Grandmother was very wise and glad she influenced you in such a way that you've influenced me! The 100 day Challenge and the whole concept of accumulating money is fascinating and definitely doable! Thank you!

  • 15% through the video I left and bought the book on ibooks , which is just Books now, but that’s how inspirational you are David. Thank you! I’m gonna go read now.

  • The story from his grandma about regrets broke me down to literally almost crying at the coffee shop. So beautiful.

  • Late 😭😭😭 (but better late than never!) – Biggest insight – look at WHY you regret what you regret.

  • Hi Marie, do you know whether this type of saving % is relevant/possible in other countries besides the US? Hopefully yes, as I would love to buy & read some of these or other financial books you've recommended on your channel in the past. What a coincidence that am 27 this year hehe 😉 Lots of love from Germany, Nevena

  • It is difficult to reconcile the fact 60% of millennials surveyed say they will be wealthy "within 1 to 10 years" considering that 59% of those in this age group still live paycheck to paycheck. Also, many people now feel that in order to be "rich," they need $2.3 million. More on the subject of wealth in America in the following article. https://brucewilds.blogspot.com/2019/05/the-mind-of-common-millionaire-is-worth.html

  • What I would like to know is what people who only have 10 bucks a day to live on can do. How can they make something like this work for them. Here in the UK, there are many people who live on that kind of amount – millions and millions – and because they are used to poverty, it may feel like a lot to them. But they do not have any elasticity. If one bill payment is late or they go overdrawn, there are fees and fines and that can easily spiral out of control. And this can be caused by, say, their washing machine breaking down or a check coming in late.
    (But I am writing this before having gotten to minute 32, so I may need to edit this later.)

  • Ok… but the thing is some people also lose money invested. There is no guarantee you will get any exact amount of money. I need to learn which are the right investments to make. My mom gave her investor full reign of her money, and lost $290,000 with a stock crash. There are no guarantees to that chart he shows. Not at all. It goes up and down, not always up, up, up. I do think we need to invest but it isn't that straight forward or simple. Must be invested wisely. I ordered his book for women, and am excited to learn more! I want to understand how and where to invest…. safely.

  • Off-topic: Marie, I love the colors every time I watch your videos these days, the pinks and blues and purples, with the whites. It's so gorgeous!

  • Thank you, Marie and David, for your inspiration and insight! As one woman, about to turn 60 and feeling as if I've got too much time with too little money, this episode has given me a lot of hope that I still have time AND to be my own hero. I've been working on improving my financial education over the last few years but I was somehow surprised to hear that 80% of women become widows! (Even though I married someone 7 years younger – so maybe not? LOL.) In other areas of my life I've learned to take responsibility for my life and this is a reminder to continue my knowledge in this area, and not leave it to ANYONE else.

  • I will definitely buy this book and thank you for the challenge. I plan to save/not spend $10 a day for the next 100 days! I may be losing my job within 100 days, so I'm extra motivated by this challenge. I'm going to brown bag my lunch and stop buying coffee in the mornings.

  • 24:21 if everybody buys Starbucks stocks and nobody drinks or eats anything in Starbucks (The Latte Factor) how will the stock price increase

  • That’s is not the increase in salary!!!
    I love the woman empowerment!!
    Amazing info!! Much gratitude!!

  • you hear it from all these teachers usually pretty too late and still thought stays – savings are ok but giving away 1/4 of money to be rich at old? what if you die childless earlier. all these rentier stuff have this minus that when you re old is less of life and people i know spend money on doctors. cool they have the money to spend.. but thats not life

  • I'm 32 and this episode motivated me to finally set clear and honest goals with my money. I've never been intentional on how I saved or invested money. This episode really took the shame out of feeling "too old to start". I can't remember the other MarieTV episode in which she says "Act before you think"…So that's exactly what I did! I made a recurring payment to my brokerage account and will keep it going for 100 days. I usually get to a point where I question my decision — especially in regards to money — and never follow through. Clicking the "confirm" button was pretty damn relieving.

  • Very interesting!
    What caught me was the diagram of savings until 65, which I think it's the most popular idea 🙂
    Whether that makes the million or not, it's immaterial: it creates the discipline and the savings that can change someone's life.
    Thank lots!!
    xoxo

  • My mother couldn’t get a loan for a furnace during the winter. As divorced woman in the early 70’s she had no credit. She took her three daughters to the bank after that and opened an account in each our names so we would have credit.

  • Thank you for this enlightening interview Marie & David!! I can't wait to dive into the books. Absolutely life-changing ❤️ I started already by automating a weekly amount of money to go onto a special account 🤟

  • This guy, best seller, written all these books, still hoping someone other than his son learns from the book… What a pure, amazing heart. So humble and amazing, that's so great to see.

  • Biggest Take Away, you can be rich AND free AND take risk (my current predicament). I'm totes readin this book at B&N this wknd!

  • I have been doing a budget for several years and have worked ourselves out of debt. I can't imagine not having that structure to some extent. Any advice? I want to do the $20/day/month!!!

  • Looooooved! Thank you so much for the wisdom!

    I’ve seen these numbers before, but I’ve never heard of the Latte Factor until recently. I want to sit down and go over my finances, and automate a payment to myself and then to the rest of my bills. I want be debt free and let my money work for me!

  • So glad I watched this! I had been investing $50 a month and now just upped it so I will now be investing $2000 a year. Also set up an auto payment into a savings account straight after pay day 👍 💰

  • What a lovely man you are David, and Marie I’ve only just found you but absolutely loving your spirit and style and will be watching your other interviews. Thank you. I’ve ordered the book and excited to read more.

  • I would like to know WHERE to invest my money, because playing the Stock-Market is so dangerous, especially if you don't know what you are doing.
    Please give some specific advice and specific companies where money could get invested in….Thank You…Daniela

  • How do we do it when we have lots of debts? It seems we want to prioritize to put money towards them instead of saving…

  • So, do you recommend read Smart Woman Finish Rich or The latte Factor? For those who want to begin? Thank you!

  • Hi, thanks Marie for the video and thanks to David for the wonderful content. Great message, including the part of empowering women to take control of their own financial aspect in their lives.
    David's scheme works, it is simple math and produces results. If you are in a situation where you can apply it, then it is a great way to build a solid "financial health" for yourself. I just wanted to add a word of caution about, in fact, any scheme that follows a rigorous discipline. Discipline is a double edge sword: it can produce great results, but it also involves a rigidness that may go against the flow of life. You need to understand that your prime directive in life is to follow your heart (as David himself mentions it). So, it may happen that your heart will call you to quit your job, go to a sabbatical, or some other direction in life that will prevent you, at least during that time, to follow the scheme that he proposes. If, for the sake of maintaining this financial discipline, you decide not to follow that call your are no longer flowing with life. Not only it is risky but, in fact it is a mistake. And even if you follow your call but now you are worried about your finances because of not following this scheme, now it has eroded the quality of your new experiences. Just trust your inner callings, everything will fall in place if you do.

  • This was so great and inspiring. Now that i’m making more money, im going to start putting my savings automatically every week. Im following a savings plan that I saw on Pinterest that will get me to $1000 for emergency fund before the end of the year.

  • There were SO many resonant moments in this interview. I’ve watched it at least twice, so that I could reflect and hold myself accountable. So the most impactful pieces of truth: number one and my spending my money (and time) On things that are moving me closer to my dreams? Number two:
    among all the voices that may influence us, we have to listen to our soul

  • "Are you spending money in a way that's going to get you closer to your dreams?" BAM! (And ouch.) I was raised in an upper middle class family. We lived in a nice house. Had 2 foreign-make cars. Belonged to a country club. Had a summer home on a lake. Belonged to the yacht club there. Tennis lessons. Sailing. Blah blah blah. Yet no one ever talked about money! In fact, I was sent off to college without anyone ever teaching me how to write a check or balance a checkbook! I'm still working to un-do my own patterns of financial self-sabotage… (BTW, thank you for acknowledging all the shame that's attached to this stuff, because honestly, that's what's kept me from addressing it sooner)

    BUT! I've raised my son very differently. I started talking to him about $$ when he was about 5 yrs old and taught him about saving and investing. Now, at 23, he has a nice stock portfolio. In fact, the kid's got more $$ in the bank than I do! I'm really proud of myself for turning that ship around and making sure that he started his young adult life on a solid financial footing. Now it's time to create a solid financial footing for myself!

  • One thing I’m still trying to learn is patience. I realize now every investment I put my capital into has now tripled or quadrupled in shareholder price but the short term volatility always scares me. Know what your investing in and don’t let others take it away from you.

  • Biggest take away is thats its a lonely road to becoming a millionaire. Seems like most people dont want to sacrifice and come with you so you have to leave them behind.😰

  • There is so much that I learned but the automatic savings concept resonated with me. I am also so moved by David's genuine passion to help people to get free from money worries. He is right the game is rigged. It is time to be smart with God gives to us to give to others.

  • Thank you so much for the good conversation
    Today I learned very good advice as well as good lesson, how to make a progress that is most important for me, now I have too much think about my work, because of I am dealing myself as well as for other and too much responsibility for the work. So how to make it better, and service practice and exercise for that getting good results .
    Thanks again so much for coming over all this time and situation.

  • I am reading ur “latte factor” it’s such interesting book. Let’s say this I was planing to go to South Africa and I budgeted $4000. but after watching ur videos in YouTube and reading your book makes me to cancel my trip and put that money for down payment for the 2nd house. Happiness is a feeling and u don’t have to spend money in order to be happy. thank you to show me the wisdom.

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