About David Bach
David Bach is a financial advisor and author of many popular books, such as 'The Automatic Millionaire', on the topic of money management. David Bach's books regularly hit the best seller lists and stay there for several months. He is also the creator of the Finish Rich brand of financial education materials and seminars.
When it comes to financial advisors most most people simply want to know how helpful their advice is before they follow their systems. I've read some of David Bach's books and can say that if you pick the right ones you'll be pleasantly surprised.
David Bach encourages simple and sound financial advice in terms of saving money and investing in real estate. Many of his books share the same advice as his first book, 'Smart Women Finish Rich' and many customers agree that David Bach's earlier works contain enough information for you to grasp his positions on personal finances.
David Bach's advice is also really beneficial to young couples and first time homeowners. As he urges people to keep track of their expenses, minimize superfluous spending, and think long term i.e. invest in a 401k or an IRA.
One criticism I have for some of David Bach's real estate advice is that, like many other gurus, he simplifies how easy it is to get rich from real estate by assuming real estate is always rising in value and advising to buy property at all costs. As our current economic situation shows real estate investments can backfire, but then again few people foresaw the real estate bubble crashing this hard.
David Bach's advice worked very well for the real estate booms in the late 90's and early 2000's, but the real estate market has slowed recently and tactics such as getting 'interest only' mortgages may not work as well anymore.
Overall, David Bach shares fundamental advice and tips for saving and handling money. To some people his books may come of as common knowledge, but others may find it to be the financial wake up call that they've been looking for.
Most recently David Bach has released an intensive financial education package that includes everything from debt reduction methods to wealth building techniques. In fact David claims that he can help you knock of at least $400 from your credit card debt within 60 minutes of ordering his course.
9 ‘David Bach’ Reviews
Sat through the 3 1/2 hour ordeal at the local Sheraton. Found the seminar interesting but was so beat bu the end that even though I liked most of what was presented was just too tired to make a competent decision so did not purchase. Do not like the do it now or lose it approach. If I am going to spend 2 to 4 thousand dollars I would like to be able to have time for a good decision.
i was just at a 4 hour seminar at doubletree hotel, it was terrible, i couldn't afford the packages but your letters were misleading,
we were to get an mp3 player with a screen. only 15 people were there, and all received thumbnail size mp3 players, to me this is false advertising, this was 4 hours i will never get back ,if can't deliver what you advertise, then why offer it, i was very disappointed!
I have several of David Bach's books. He provides great information in easy to understand terms. Being a tax preparer, I can tell you that many people are barely living check to check. Most (especially self-employed) have no plans for any type of retirement,or possibly are counting on social security to take care of them at retirement (ha ha....). The truth is, if we don't take responsibility for our finances & act on good advise that we get from people like David Bach. Then we are destined to be dependent on social security & live in poverty. Being a real estate investor myself, I find some of his advise valuable, but not for everyone.
I have read dozens of financial books and have listened to dozens of financial help cassette/CD/DVD.
David Bach's book, The Automatic Millionaire should be mandatory reading in every high school in the United States.
Mr. Bach has a unique talent or may I even call it gift, to write in simple down to earth laymans terms how to get and keep your financial house in order. It applies to the high school junior/senior to mid life married couples.
I looked into David Bach about 4 years ago a little before I got married; I was lost, in debt, spending all kinds of money on starbucks, clothes, and restaurants just charging everything. Since I have read 4 of his books, my husband and I have become debt free, learned how to save, are currently renting out our first home and are in the process of purchasing our second home and we are both under 30years old. I will agree with that some of his books share a lot of the same info, but the information is very useful. I recommend his books.
i am giving david bach a rating of 3-fair because although some of his advise is excellent he forgets to give all the information. example, he says to buy houses to rent out and become a landlord. well i have been a personal witness to some of these houses. he forgets to tell people that they have to keep these houses up. proper repairs need to be made to them not band-aids applied. my son and his family rented a house from one of these people trying to get rich by doing this. they had pipes freeze in the winter which meant no water and the owner would just thaw the pipes enough to get water moving and some other dangerous tactics. my son and his family had to go to legal means to resolve all of the other problems after awhile. this person owned about 15 houses and had many of the same problems with them but few people would step up because they where poor and scared of being kicked out on a moments notice as this person threatened to do. so with being a landlord comes alot of responsibility to the homes you buy, the tenents you lease to and to your own good name.
"Start Late,Finish Rich" is my favorite book of David Bach's. I'm a real estate broker associate and that's the book I give to potential clients and as a wedding present along with some seed money. I also like Suze Orman's "Women & Money" book. Friends & I are doing her "Save Yourself" money market investment account offer through TD Ameritrade and I am very pleased with that and the investment education and advice that gets e-mailed once a month (all free with interest paid to me)
I recently got an offer to apply for what sounded like a "free" opportunity to join David Bach's coaching program. I read the comment from Wendy on this site and got curious as to the cost. Three phone "interviews" and 4 hours later I finally found out the "tuition" costs for coaching. Ready...$3,500-$8,500 depending on the option you pick! I feel pretty certain they would give proper coaching on how to earn that back OR INSTEAD you could read David Bach's book, follow his advice especially on the "latte factor", paying down credit debt, & investing in real estate and use the money towards one of those lessons. The trick is that if you don't have the self-discipline and common sense to follow his or Suze Orman's books then you might as well pay for David Bach's coaching program because you'll waste that much money anyhow without discipline & common sense. With coaching you'll have something to show for it in the end and it will probably be reduced debt & money made. The things I have CHOSEN to try in the controversial Charles Givens book "Wealth without Risk", David Bach's "Start Late,Finish Rich", & Suze Orman's "Women & Money" have all helped me reduce my debt by $5,000-$8,000 a year to date (I'm fairly conservative & earn under $40,000) which leaves me that much to invest or remove debt which I am doing. Remember INVEST it don't go spending it on luxury cars,clothes,toys, or vacations until your debt is paid and your retirement is secured! Suze Orman appears to be the most "sincere" in her efforts to help, so far.
We looked to David Bach's coaching group because we needed help and guidance, but what we heard when we were asking for this help was the counselor looking to boost our credit limit, because they wanted more money for their "tuition". We felt very violated, and misguided by their rep. It is a shame that vulnerable people look to them for help, share personal information and then are taken advantage of...
David Bach is a decent financial adviser. He speaks the truth and is easy to understand. Although you might need some further reading after you start putting his concepts into effect. I recommend his books to anyone who is seriously trying to get ahead in life.