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  • 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.

  • That was a lot of math to just show, but what happens when you look at this, you just go,

  • I gotta get going.

  • That's really the core message of this book.

  • Wherever you are right now, get started.

  • Yes.

  • Because small amounts of money can change your whole life.

  • Absolutely.

  • It changed my life, too.

  • And again, if you guys didn't see our first episode together, you will.

  • We'll link it below.