字幕列表 影片播放 列印英文字幕 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.