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People just like you are applying the principles found in my books and are literally changing their lives! I've compiled some of my favorite success stories from my students. I get so excited and energized when I realize that people are making extraordinary changes. |
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July 5, 2007-
Hi David,
I can't help but laugh at myself for truly being a, "starstruck teen" when my husband and I met you at the Baltimore, MD Homeowner Challenge Seminar. I am usually so professional and composed in any situation, but you must have thought I had ADD or way too much coffee! The financial security you have helped us achieve is life altering. My zeal in meeting you was genuine and I guess my emotions got the best of me. As per your request, I am attaching a picture of our family for your website. We are the West family that you highlighted in your Yahoo (or "yoo-hoo") finance column titled, "Meet the Millionaires" several months ago. We have made even more financial gains since that column ran. Here is a snapshot what we have accomplished:
--We have no car payments, but will need a car in the near future now that we have a 2-year old daughter. So we are actually making a $400 "car payment" to our money market account every month. We will buy our car only when we have enough to purchase it with cash.
--Joe switched jobs in Oct '05 which is now enabling him to put a full 10% away for retirement through a combination of 401K and Roth IRA.
--I have increased my 403B contributions to 7%.
--We continue to put money away into a money market for emergencies. We actually had a plumbing issue and a hospital bill that were nice to be able to pay outright.
--We continue to put money away into our dream basket, which will enable us to take a vacation to California this Thanksgiving.
--And lastly, we are excited about '07 because we plan on renting out our current townhouse and buying another property for us to live in for awhile (as discussed in your seminar!)
PS.... And this one is good!!!
Without our personal financial plan in place, we wouldn't have had the guts to start our own business. We recently started a new children's book publishing company. From one author to another, we'd like to send your son a copy of our first publication. We will be doing book signings at Barnes and Noble Stores throughout Virginia in June so we are excited about our future in this endeavor as well.
Thank you for being our "Grandma Bach".
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June 18, 2007-
We discovered your book after deciding we needed changes..if we were ever going to retire.
Short story, already may and we have both IRS's maxed for this year and last, plus we are in the process of securing another duplex(today), to cushion our retirement and hopefully educate our children that money can work for you!
We've also contacted credit cards, phone companies, insurance companies and the like, and have either reduced or eliminated to all of them. Again, putting more money into our retirements and perhpas additional rental properties!
Thanks So Much!!!
- Gregg and Linda Thompson
- Sauk Rapids, MN
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May 18, 2007-
My husband and I met in 1997 married two years later in Sept 1999, and are a combined family of 3 children who were 3,4 & 5 at the time we met. Since that time we knew that we needed to buy a home and start building equity. We saw what our family members were doing and wanted to be the same way. It was not until early 2002 that we were able to find something affordable and the loan made sense. We had to move almost an hour away from the big city of Sacramento and commute back in for our jobs. The only thing in Sacramento that fit our budgets was over 20 years old and needed more work than the loan or our pocket books could afford. My husband does outside sales and while out driving in Yuba City came upon a small sign posted to a telephone pole by one of the local builders. 1st phase now released it said. He called me immediately after making a phone call to the builder and said.... Are you ready to move??? After asking my questions and getting comfortable, said yes. We put $11K down on a $175K loan, purchased a 4/3 1723sq ft home on .08ac, and closed in Jan 03. 2years and 3 months later we sold for $349K and are now onto our next home. We took some equity out of our 1st home to begin with because we had a dream of owning land 5 ac or more. We found a piece and were ready to go but still not deep pockets and not really 100% sure but kept telling ourselves that the long term results would out weigh our odds. The equity we took out was to cover the 20% they want down on the land loan. We paid 3 mortgage payments for 6 months until we could make the move. We purchased a camping pull trailer, put the house up for sale (sold in 2 days at that time), secured a construction loan to build, and moved the 3 kids, 2 dogs, and cat, onto a vacant land lot and camped for 1 year while building our dream. We commuted together everyday to work to save gas and while he drove I was on the phone with subcontractors and scheduling for the next day. The laundry was put into plastic bags and we would have "Laundry Saturdays" at the laundry mat in town. There was a water hose hooked up to the neighbors, as well as a 220v power cord so we did not have to run the generator all the time. My husband is 6'4" and it was extremely difficult for him to function is the small trailer. Then on top of that trying to have an adult personal life when your kids are sleeping right next to you. We both had to try and keep our professional careers and the clothes were hung with care all over the trailer on those exceptionally useful removeable hooks. We have been in our new home for almost a year now and love it. We are still ahead of the curve even though real estate has fallen by about 25% in our area. Our son will graduate high school in 2 years, daughter in 4 years, and other daughter in 5 years. We anticipate that at that time or before we will be ready to sell again and do what it says in the book. Invest back into Real estate, and buy one or two rentals, depending on the amount rec\'d from selling. We grew to love real estate so much that I went through school and became an agent. I have been growning my business for a year now and everyone questioned why would I make a move in a down market. I simply said I believe most agents never learned to really work over the last 5+ years and I was going to build my business by learning to do it while things were normal and not jump in like most did when it was booming and just fly by the seat of their pants. My husband is currently studying but will probably not make a move for a while considering he is and has been the back bone to me builing up my business. I LOVE Real Estate, did I say LOVE, I'm infatuated! Thanks David,for allowing me to find another tool! Your book is great and I still haven't finished it yet. There are all sorts of underlined and highlighted parts I am going to share with my clients, family and co-workers.
- Michelle Haney
- Marysville, CA
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May 11, 2007-
David,
Here is my real life story - In 1985 I was hired by a large automotive firm fresh out of college. The HR person doing the hiring gave me 401K paperwork to fill out. I told him that I wasn't making enough money to save for retirement - I was just out of college!
The man looked me in the eye and told me that if I didn't sign up with 6% of my income right then and there, he wasn't going to hire me! So, I signed up, and when I left that company 4 years later, I had a small nest egg of about $6,000, which I rolled over to a brokerage house. I never added any more money into that account, but it has materialized into six figures!
So to the people who think that it's not possible - it is, and it doesn't take much - I got my quarterly statements, re-balanced the account every couple of years, and let it grow! For those folks, individuals such as David Bach provide simple instruction on how to be this successful - because we all don't have smart HR employees when we get jobs.
I took my savings habit with me as I went from job to job - and remembered to ROLL OVER, and not cash out, the 401k's and 403b's (not for profits) that I accumulated along the way - I still max out my 401k, and should hit my first million within about 5 years - what a feeling that will be!
- Maureen Niemiec
- Shelby Township, MI
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May 11, 2007-
Last year I first took your advice from watching the Oprah's debt diet. I applied many of the ideas given and took a conservative approach to addressing my very real debt, one thing was a student loan that had haunted me for more than 10 years. I got a low interest loan and paid off my debt. I made my payoff arrangements for the loan very agressive. I gave myself 1 yr to pay it back. This meant I would have to learn to live without almost $700 per month of my income. My friends and family thought I was crazy but I felt like I could make the sacrafice. Turns out I was right, I am now 4 months away from being "almost" debt free. Right after I paid off these bills I went to look for a new car, I got a brand new car at a 1.9% intrest rate and believe me when I say with my credit that was a Miracle from Almighty God. This has given me a new lease on life. Recently, I went to a personal financial planning seminar at work, I paid close attention to the speaker and he asked a question to be sure we were listening. I yelled out the answer and won a prize. What was it? The Automatic Millionaire by David Bach. When I started reading the book, I was so excited. I thought WOW sounds like I heard some of this before. Yes, I did because it was the same David Bach from Oprah. So then I was sure I could trust the information. I will admit, I cheated and read the "latte factor" chapter first. I was sooooooooo upset with myself to learn I was drinking my future away. I am a die hard Starbucks's fan and this was going to have to be the sacrifice of a lifetime. More so than the money for the loan. Well, I made an agressive move. I hired a personal financial advisor who I insisted get David's book as we would be following his lead. I opened up a Roth IRA after reading that one chapter. I put it on auto pilot and I am on my way to becoming a automatic millionaire. My co-worker and friend even caught hold of my enthusiasm and went with me and opened up a Roth IRA too. So this advise and book has been a blessing to me and well as my family. I went back like a good girl and started reading from the beginning and I am now building a savings that I can use for emergency. I do not want to retire in poverty. I am currently working 11 hours per week of my 37.5 hours for myself. I cannot tell you how empowered I now feel. I will be gifting this book to some special friends for Mother's Day. You are a life saver!!!!!
- Angelic Edwards
- Orlando, FL
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May 1, 2007-
David,
I am just now getting a handle on saving and mutual funds but I am finally saving! I used the latte factor and save between 300.00 and 500.00 personally a month! I have purchased a number of your tapes and books and given them to friends I know are in need of your help. It is a positive uplifting program. Start Late Finish Rich did it for me and I also have the series for couples, although my husband has not bought in on it yet! I picked up the tape series for Smart Women Finish Rich in Barnes and Nobles and have been listening over and over! I have a mutual fund and CD in just a few months and had nothing up to last year in savings! I have also started a SEPP. Thank you so...much! Blessings to you and your wife!
- Barbara Lisiewski
- Newport News, VA
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March 23, 2007-
I remember seeing you David in Oprah awhile back talking about the advantage of paying your mortgage bi-weekly. I said to myself what a nice "idea" too bad I don't have a house. That time I was still renting a 2 bedroom apartment with my sister. And I ask myself why still I don't own a house. Well everything changed after I got a hold of your books: Automatic Millionaire and Automatic Millionaire Homeowner. Within 6 months me and my sister finally bought our very own brand new 3 bedroom house. Not only that, because of the principles I have learned from your books I was able to identify at least $500 of "latte factor" a month. I have learned to "pay myself FIRST and make it AUTOMATIC". I have DOLP (Dead on Last Payment) several credit cards. And have negotiated the remaining cards to a much lower rate. And the best thing is I'm on my way of becoming debt free with the help of the home based business I have started. I'm so grateful with all the things that I have learned from you that last Christmas I gave your books as presents to all my close friends. Thank you very much David! See you in the Learning Annex here in NY!
- Ian Saludares
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