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Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age
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Sales rank 258,652
Customers rating (based on 103 reviews)
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Over and over, people share their fears with David Bach, America’s leading money coach and the number-one national best-selling author of The Automatic Millionaire. “If only I had started saving when I was younger!” they say. “Is there any hope for me?”There IS hope, and help is here at last!In Start Late, Finish Rich, David Bach takes the “Finish Rich” wisdom that has already helped millions of people and tailors it specifically to all of us who forgot to save, procrastinated, or got sidetracked by life’s unexpected challenges.Whether you are in your thirties, forties, fifties, or even older, Bach shows that you really can start late and still live and finish rich – and you can get your plan in place fast. In a motivating, swift read you learn how to ramp up the road to financial security with the principles of spend less, save more, make more – and most important, LIVE MORE. And he gives you the time tested plan to do it.The Start Late, Finish Rich promise is bold and clear:Even if you are buried in debt – there is still hope.You can get rich in real estate – by starting small.Find your “Latte Factor” – and turbo charge it to save money you didn’t know you had.You can start a business on the side – while you keep your old job and continue earning a paycheck.You can spend less, save more and make more – and it doesn’t have to hurt.David Bach gives you step-by-step instructions, worksheets, phone numbers and website addresses --everything you need to put your Start Late plan into place right away. And he shares the stories of ordinary Americans who have turned their lives around, at thirty, forty, fifty, even sixty years of age, and are now financially free. They did it, and now it’s your turn. With David Bach at your side, it’s never too late to change your financial destiny. It’s never too late to live your dreams. It’s never too late to be free.
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| Publisher | Crown Business | | Release date | 01/2005 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
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 Some Good Ideas... Along With Some Outdated, Bad Advice
In some ways, I was pleasantly surprised by this book. I was expecting a lot of ho-hum tips about how to save money by cutting back on everyday pleasures like lattes and movies. The first chapters do focus on ways to rein in your spending, but later on, the author goes on to stress the importance of living a joy-filled life and not putting off having fun until your retirement years. I agree with the author that the concept of retirement is a myth. People are living longer and we'll all probably have to work longer, too. I found the chapters on entrepreneurship, getting out of debt as quickly as possibly, and getting rich by giving back to others to be useful and thought-provoking. And overall, I really liked the book's message of hope: That it is possible to start late and finish rich if you have a plan.
Still, I can only give this book three stars because some of the ideas are hopelessly naive. The author thinks anyone can make a 10% return on the stock market. He also implores everyone to buy real estate, making it sound so easy. It's possible, he says over and over again, to buy property with no money down. He wants you to buy a house, live in it for two years, then buy a second home while you're still paying off the first home... and to do this over and over again. Advice like this is dangerous... and got us into the economic mess we're in today!!
I agree that while money may not buy happiness, it can buy freedom. So, I applaud the author's efforts to help people get on the right track financially. On the other hand, my copy of the book (the hardcover version) was written in 2005. Only five years have passed, but a lot of the author's advice is already hopelessly out of date. My advice: Please take some of his ideas--especially the chapters on real estate--with a grain of salt. They may have worked in the late 1990's-early 2000's, but not anymore.
 Very helpful book!!
This book helped me in several ways, David Bach gives good advice throughout the entire book. He made me think of different ways to manage my money; such as pay myself first, pay more than the minium due on credits cards, and try to get lower interest if possible.
He inspired me to write down the financial goals I would like to achieve and I am actively working toward those goals. I have started my writing career and published two books as well "The Hopes and Encouragements of a Woman" By Anna Roberts and "The Ups and Downs in Life" By Anna Roberts.
A must read book you will want to keep with you for future use!!
Some Good Advice; Some Unhelpful Advice
I have read the other reviews here; most give you a good idea of the subject of the book, so I won't add to that. I have not read Bach's other books, so I cannot compare to those. The book starts hopeful since most of us can see places where we can spend less - in other words, these things are doable. But the section on real estate was a real downer to the uplifting other parts of the book. This book was written before the current economic downturn. He writes "how easy it is to get a mortgage for $850,000 with no money down". I laughed at this part since this is part of the action that led to the economic downturn.
But aside from that, he wrote only about positive, successful experiences with real estate, giving people the impression that it's really easy to have these types of experiences. He wrote about buying foreclosures and selling them for more like it's something you can do "just like that" and with no risk. He did not talk at all about the risks that come with buying real estate. For example, some reality here; I live in Denver. Before the economic downturn I went to a seminar on foreclosures. Yes, you can make money with this, but the instructor was clear; many foreclosures in Denver were methamphetamine labs, and whether you want to or not, you need to get them professionally cleaned and have documentation of this or buyers won't buy. How much does this cost and how many other expenses come with this type of purchase? Bach writes like you will never have any of your properties vacant and will have a constant stream of income. I suspect we could find many property owners who will vouch that this was not their experience. Also, the increases in property value that Bach owned and sold were tremendous, but this doesn't happen to all of us. I purchased a home 5 years ago in Denver for $223,000. It might sell for $230,000 now; with the commission paid to a broker, I wouldn't break even. My purpose for telling you this is investing in real estate doesn't appeal to me much. The potential to lose isn't attractive; if you're going to be smart and do this, you need to have enough money saved to take care of the times when your property is vacant and enough money saved for if property values go down instead of up; but Bach does not address this.
Helpful and inspiring
Although some of the advice is information that's commonly known, I found the book helpful and inspiring. Even though I may not be the target audience for this book, it presents information that anyone can use, regardless of age.
Have you ever heard about making money ideas? this book is great:
Mopping Up Millions!: Making A Killing In Cleaning -
Sound advice
When you are young and just out of school, the last thing on your mind is thinking about retirement or building wealth. You just worry about paying bills and staying afloat. Life moves fast and you realize you do not have much financial stability. The good news is that it is never too late to get started on the right track and get educated about money because as the author argues 90 percent of people's problems can be fixed with money.
The advice in this book can be summarized as follows:
* Spend less
* Eliminate credit card debt
* Save more
* Fund your retirement account with automatic withdrawals
* Invest
You may have heard this advice before, but hearing is one thing and acting is another. I truly believe that following the above blueprint is the surest way to financial stability. I recommend this book to anyone who wished they started earlier.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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