New Year's Resolution: Become a Millionaire with David Bach
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 5 January 2017
⏱️ 38 minutes
🧾️ Download transcript
Summary
How does it feel to have nine consecutive books make the New York Times bestsellers list? Or to be on the Oprah Winfrey Show six times? Well, I have no idea, but our “Better Off” guest, David Bach, does! Let me back up...this is the first-ever episode of “Better Off” where I tackle sometimes uncomfortable -- and even controversial -- money and investing issues. For the show premiere, I talked with David Bach, who has written eleven national bestsellers, with over seven million books in print. He’s best known for “The Automatic Millionaire.” It was so popular the first time around that he just released an expanded and updated version. Of course, there’s no secret recipe to becoming an automatic millionaire. There’s no magic formula. It’s something that takes time, work and discipline. If it were that easy we’d all be millionaires...and Mark probably wouldn’t be my producer. You’ll get to know Mark in subsequent episodes. He’s the guy that makes the show appear in your feed every week. As you’ll hear, I don’t agree with David that skipping a latte a day will help you become rich, but we also discuss many topics in the book upon which we both agree—perhaps none more important than becoming an “automatic investor.” Research shows that we have more positive outcomes when we take emotions and self-discipline out of the equation and put our financial lives on autopilot. That may be the biggest takeaway from the book. Whether it’s a retirement plan at work, an IRA, or a service such as Betterment, set it, forget it and let the magic of compounding interest go to work. It’s the beginning of a new year, a time when we reassess our financial situations and maybe even make some resolutions. Listen to this podcast, read the book and I have no doubt you’ll pick up some useful tips that will help you achieve your goals in 2017. “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Hi, this is Jill Schlesinger, and you're listening to the Better Off Podcast. |
| 0:06.0 | On today's episode, Best Selling Author David Bach, we talk about the newest edition of The |
| 0:12.0 | Automatic Millionaire and how it might change your life. |
| 0:15.0 | And then I had this epiphany. I was like, I need to write a simple little book that you can read at an eighth grade level in less than an hour and a half. If I could write a |
| 0:24.2 | little book that is so simple that anyone could use these techniques I could |
| 0:28.8 | really make a difference in the world. All that and more coming up next on the Better Off Podcast. |
| 0:36.0 | Welcome to the first ever episode of the Better Off Podcast, sponsored by Betterment. |
| 0:41.0 | I'm your host Jill Schlesinger. This show is going to be a little |
| 0:44.0 | different from the boring old financial program you may have heard in the past. |
| 0:48.1 | This is going to be a bit more unconventional and more entertaining. Some insights on your money and your life. |
| 0:56.0 | Let me start by introducing myself. |
| 0:58.0 | I am Jill Schlesinger. |
| 0:59.8 | I am a trader turned investment advisor, financial planner, turned journalist. |
| 1:05.6 | And with all those different areas of my life, I've learned a lot about the financial |
| 1:09.8 | world in general. |
| 1:11.4 | Hopefully I can distill important concepts, bring them to your life |
| 1:15.4 | in a way that is actionable to you, in a way that makes sense to you, in a way that you |
| 1:20.2 | say, oh that's what that always meant that's me I'm your translator think of it that |
| 1:25.4 | way it's great whether you're a seasoned long-term investor or someone just |
| 1:29.5 | starting the journey of managing complex issues that can arise in your life. Just know that this |
| 1:34.8 | show that better off is a show that is intended to help you reach your financial |
| 1:39.6 | goals and objectives. So let me tell you how the show is going to work. In the first segment of the show |
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