The Art of Manliness Podcast aims to deepen and improve every area of a man's life, from fitness and philosophy, to relationships and productivity. Engaging and edifying interviews with some of the world's most interesting doers and thinkers drop the fluff and filler to glean guests' very best, potentially life-changing, insights.
Building substantial personal wealth can feel difficult and out of reach. But my guest says that even those with modest means can, with a few simple decisions and strategies, become millionaires, and even multi-millionaires.
David Bach is the author of the bestselling, newly updated personal finance classic, The Automatic Millionaire. Today on the show, we talk about the money management framework that will put you on the path to a free, secure, rich retirement. David explains his controversial "Latte Factor" principle, the astonishing power of compounding interest, how setting your finances on autopilot may be the most important financial move you can make, why he still believes in buying a home as an incomparable way to build wealth, the best way to pay down your debt, and more.
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0:00 - Introduction
0:41 - Meet David Bach & The Automatic Millionaire
2:18 - The McIntyre Story: How Ordinary Income Built Millions
7:37 - The Latte Factor Explained
17:37 - The Power of Compound Interest
20:27 - The Rule of 72 & Rate of Return
23:32 - Why Starting Early Is the Key to Wealth
33:55 - How Much to Save: The Millionaire Formula
36:05 - Setting Up Automatic Investing (401k & IRAs)
44:23 - Why Homeownership Still Builds Wealth
50:22 - How to Pay Off Your Mortgage Early
47:14 - Paying Down Debt While Saving for Retirement
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