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Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age Hardcover – January 4, 2005
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Top Customer Reviews
If you are over 50, this book won't provide you with the advice you need. The intellectual process that Mr. Bach went through was to take the familiar arguments about the power of compound interest and saving with pre-tax dollars . . . and think of a few ways to shorten up the number of years required for compound interest to do its thing on your behalf. His best suggestions outside the standard financial planning advice are to be more valuable at work so you can earn more raises and promotions . . . and paying down your mortgage a little faster than is required.
I applaud his advice that people spend less on things that don't provide much benefit . . . but most people are going to be demoralized if that's the main source of increased liquid wealth. After all, most people want wealth not for retirement . . . but to enjoy life before and after they retire.
I found his arguments about starting your own business to earn more money to be naive at best . . . and overoptimistic at worst. Buying and running . . . or starting and running a business requires a lot of hard work and skill. Most successful entrepreneurs are off doing this by around age 35. Most people at 49 will find it a tough hill to climb. I applaud Mr. Bach's suggestion that people look into buying, operating, expanding and then selling franchised operations that meet his criteria.Read more ›
Then I read Start Late, Finish Rich and now I understand that I haven't doomed myself to working into my seventies or eighties. I can still make it and make it big!
I started with my debt as I felt like this was the biggest factor holding me back. I took Mr. Bach's advice to call all of my credit card companies and ask for lower interest rates. At first they balked, but with a little persistence and, sometimes a supervisor on the phone, almost every one of them lowered my interest rate by at least 5-10%. There were a few companies that wouldn't cooperate and therefore, didn't deserve my business. Those balances I transferred to new cards offering me a ZERO % interest rate. Next, I began making more than the minimum monthly payments, as much more as I could. Now I can see the progress I am making with each monthly statement and I am proud of the difference I am making in my own life!
Then, I began contributing more to my 401k. I set aside an additional $20 a week, just an extra $80 a month.Read more ›
If you're forty, in excellent health, live in an affordable neighborhood, and plan to spend your life making money, this book will probably work for you, although there is nothing here you won't find in a hundred other books on personal finance. Try "Rich Dad, Poor Dad." It's an easier read.
David Bach does not consider people on fixed incomes, those with health issues, people who are required to stay in certain locations because of work, and those of us who simply do not want to give up the treat of one movie a month in order to devote our existences to Making More Money.
Mr. Bach really doesn't intend this book for anyone over forty . . . maybe forty-five. If you're in your fifties or sixties, this book will most likely frustrate you and make you feel like a failure, unless you've got a prime job and a nice nest egg already begun.
The author sees the world of the middle-and-lower classes through rose colored glasses. His answer to credit debt is to just get on the phone, call your creditors, and "talk them into" lowering your rates so you can pay your cards off sooner. If any of you have tried this you know it's easier said than done. Mr. Bach denies the fact that he really does expect everyone to give up lattes, movies, dinners out, and other treats . . . except for his book. That's an "investment.Read more ›
Most Recent Customer Reviews
Excellent and informative. It got me really excited about planning for my future, even if you are at middle age. Read morePublished 6 days ago by ASHLEY BARNWELL
Very good, but not for the more advanced investor. I do recommend it for someone trying to turn their finances around.Published 14 days ago by Richard Painter
Another great book written by David Bach! I absolutely love all of his booksPublished 1 month ago by Roy paynter
This book taught me that I didn't need to be afraid of the fact that I had not managed my finances properly throughout my life - and that at age 61 it's not too late to start... Read morePublished 2 months ago by Mrs. Mtc Martin
I have his other book and was intrigued by this one. I have started reading it, but haven't gotten too far. It's good so far.Published 4 months ago by Stephanie Miller
An excellent read for all ages. If you haven't started your retirement read this book!! It is very motivational and gives lots of information on different ways to achieve... Read morePublished 5 months ago by jc
Financial game changer to say at least. Got the audio file, finished it in record time and starting again for more details.Published 5 months ago by Erna
While I definitely recommend this book to other readers, I would recommend it to older readers who have neglected their savings, mainly because it describes a variety of tactics... Read morePublished 5 months ago by Salah ElKashef