Money Rules – with David Bach, Author of The Automatic Millionaire #110
It's a Good Life
Brian Buffini
4.4 • 2.4K Ratings
🗓️ 10 July 2018
⏱️ 40 minutes
🧾️ Download transcript
Summary
“A lot of personal finance is… personal.” — Brian Buffini
According to David Bach, financial expert and best-selling author of “The Automatic Millionaire,” most real estate professionals earn at least five times more than the average American; however, their wealth tends to be less than the average American’s. Why are so many agents saving and investing so much less than they should?
In this episode, recorded live at Buffini & Company’s “The Peak Experience,” David Bach answers the burning financial questions of real estate professionals. Should you dip into savings to pay off debt? Should you pay off your home or invest more in retirement? Is there an ideal percentage of your gross income to save that will help you become a millionaire? David Bach answers these questions and more. Whether you’re a real estate professional, a small business owner or would just like to learn more to help you become more money savvy, this episode is for you.
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Inspirational quotes from today’s interview:
“A lot of personal finance is personal.” — Brian Buffini
“People put off increasing their 401(k) plans because they tell themselves they’ll do something later and they don’t.” — David Bach
“I’d rather have you overfunding your retirement accounts than not doing it at all.” — David Bach
“You’ll never notice a 1% difference.” — David Bach
“With money, if you can get back on track, you can be successful.” — David Bach
“You’re either running a clean business that puts your clients first or you’re not.” — David Bach
“When you sell crap, even a little crap, you will later smell like crap.” — David Bach
“As you grow your business, you need to think like a business person and not a Realtor.” — Brian Buffini
Mentioned in the episode: “The Automatic Millionaire” by David Bach
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Transcript
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| 0:00.0 | Is it me or Jafil? |
| 0:01.1 | Inspired, accelerated, overcome with the sheer emotion of using a paint with such a wonderful |
| 0:05.8 | depth of colour? |
| 0:06.8 | Yeah, I feel all of it poor. |
| 0:09.9 | Jafil a bit cold is what I was actually going to ask John. |
| 0:12.9 | Heritage by Duelux. |
| 0:13.9 | It's a feeling. |
| 0:30.0 | Welcome to the Brian Bafini show. |
| 0:35.7 | Today we continue exploring the mindsets motivation and methodologies of success with a Q&A |
| 0:41.6 | that Brian and David Bach hosted live at Bafini companies Elite Event, the Peak Experience. |
| 0:47.4 | David is a trusted financial expert and bestselling author of books including the automatic millionaire. |
| 0:53.8 | Over the past two decades he has touched the lives of tens of millions and has appeared |
| 0:57.9 | on NBC's Today Show, Oprah, Fox News and more. |
| 1:02.2 | In this Q&A you'll hear fundamentals for building your personal and business wealth and |
| 1:06.7 | gain clarity in many of the areas you've been curious about. |
| 1:09.8 | Let's listen in. |
| 1:10.8 | I've done the work, I've built the savings, but I've been through a tough financial situation |
| 1:15.9 | in the past and I'm at a point where I've got $10,000 in credit card debt. |
| 1:20.6 | I got $20,000 in the bank and I can't bring myself to pay off the credit card debt because |
| 1:26.0 | I'm afraid did not have that money available in the next downturn. |
| 1:29.8 | Do I just bite the bullet and pay it off? |
| 1:31.7 | How do I mentally get over that? |
... |
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