A No-Fail Plan for Achieving Financial Freedom at Any Age- David Bach

You may have heard about the famous “Latte Effect” by David Bach. David Bach is the author who has written the Automatic Millionaire.

Affiliate Link

If you have missed the boat of saving and investing in your youth and are now in tension how to start for your Retirement then this book is for you.

The author encourages us to think positive even if we are starting late to save and invest.

The words of wisdom from the book are:

  • Money may not make you happy, but LACK OF MONEY can certainly make you miserable.
  • The fact is, you don’t get in life what you wish for. You get in life what you go for.
  • People choose their lives. People choose their actions. People choose their outcomes. Life is a cause set in motion. And life is not over until you quit.
  • Your life starts to change the moment you feel uncomfortable.
  • The author wants us to answer these thought provoking questions:
    What makes you happy? Be honest. Think about all areas of your life.
    What makes you happy at work?
    What makes you happy at home?
    What makes you happy with friends and family?
    What makes you happy when you are by yourself?
    What do you love to do?
    What would you do with your life today if you were not afraid of failure?
    What is not working in your life?
    What are you currently doing that prevents you from experiencing joy?
    What is working in your life?
    Who is not working in your life? Often there are people in our lives who don’t add value. In fact, they subtract from our life’s joy. Be honest.
    Who right now in your life is subtracting value from your life and adding misery to it?
    Can you fix any of these relationships or should you let them go out of your life?
    What relationships are working in your life? Just as there are people who don’t work in our lives, there are people in our lives who do. They bring value and joy to you. The clearer you are about why these people bring joy into your life, the easier it will be to appreciate and enjoy your relationships with them—and attract more people like them into your life.
    If we were getting together one year from today, what would have to happen for you to be able to tell me that you now have more joy in your life?
    What is the single most important thing you’ve learned about yourself as a result of answering these questions?
  • Do you know how much you should Pay Yourself First?
    Do you know where to put the money you Pay Yourself First?
    Are you actually doing it?
    Is your Pay Yourself First plan automatic?

The book can be summarized in following words:

If you are not yet as rich as you want to be, stop focusing on what you haven’t done and start focusing on what you want to do.