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How to Retire Early: The Latte Factor

Lesson 1 of 18

Class Introduction

 

How to Retire Early: The Latte Factor

Lesson 1 of 18

Class Introduction

 

Lesson Info

Class Introduction

Thank you. It's so good to be here. They told me not to go over this line not to get too close. I'm coming close. I thank you guys. So I think and thank you at home. I'm high fiving you. I am so excited to be here. So excite me back with created live Because this feels to me for me like it's family And we've had some of you have seen the show that we did before we had 32, people go through the first class I taught here which was start late Finish rich, which you're holding a book from, um And so I reached out to chase who I just really respect and admire. And it's a chase. Let's just have been totally crazy. Let's launch the lot a factor before it comes out Not on a television show, but here at created live and let's create a class on this book. The lot day factor, Mastery class. So today I'm gonna Lily, I'm gonna take you through this book before comes out in stores and walking to the life lessons on how you can truly live rich. The subtitle of this book is why you don't have to be ri...

ch to live rich. And I'm gonna show you how small winds, small amounts of money can truly, truly changed your life because it starts with small winds so that, you know, even if they're here, you're living paycheck to paycheck. By the way, I'm not putting you on the spot. But how many of you know someone who's living paycheck to paycheck? Okay, so seven out of 10 men, we have one brave gentleman in the audience. Seven out of 10 men in this country living paycheck to paycheck. Eight out of 10 women are living paycheck to paycheck. And I'm gonna go through some of these statistics a little bit here. But if you're living paycheck to paycheck right now, if you are in student debt, which you're gonna learn like our main character in this book, Zoe Daniels is in student debt. If you are, if you feel like you're drowning, I'm here to tell you today that there's hope. There are truly things that you can do to take charge your financial leg to day. I'm gonna be giving you this is not ah theory class. This is an action class like you all got pads of paper to take notes with and you at home can take a lot of notes. I am in the activator business, he said. I'm a teacher. Heart. It's truly what I love to do. I've been doing this now for 26 years. It is my passion. But I teach to motivate you to action because education without action is entertainment. Okay, It won't change your life. Those you are most look really of. We have small audience here. This is about the audience at home. And so for whatever reason, if your work or your home or your the gym later. You're watching this because you bought it in you you're watching on your IPad or your phone Information's amazing, provided you use it. So as I go through the class today, I'm very specific and intentional about what you need to do all in favor taking action, say I think a good audience. Okay, so I'm gonna teach you the first person who taught me to take action. And that is my grandma Rose Block. So there's a picture of my grandma Rose Bock, the first book I ever wrote. Smart women finish rich. That was my first book 20 years ago. It came out. It just came out for its 20 year anniversary edition. It's dedicated. My grandmother and I didn't interview before. If you were watching with Chase Chase and I had amazing our together, you should go back and watch that, Um, I shared the story, but I'm sure it again for those you who weren't there, that I learned about money at a very young age I learned about from my grandmother. So my grandmother was a general was a came from the generation that was poor, right? It was the was the Great Depression generation, and she did not have a college education and at 30 shoes living paycheck to paycheck and both her and my grandfather of really very middle class, probably the lower middle class in terms of of the money they made and the way they lived. And at 30 my grandmother made decision that ultimately would completely change our families. Destiny, on the decision that she made was that she was tired of being poor. So it 30 the way she tells a story. Is it 30? On her birthday, she turned my grandfather. His name was Jack and said, Jack, this is not working now when you're the husband and you hear this is not working, that's not a good thing. And he's like, What? What's not working? She said, In case you have notes were poor and he said, Oh, it's not so bad She said it was pretty bad. We don't We don't have money in the bank were renting. We basically live paycheck to paycheck. There's so much that we can't dio and I'm tired of it. By the way, maybe some of you right now are tired of this. Um, she said, I'm tired of it and my grandfather would said to her, What do you want to do about it? And you what? She said, I don't know, but things have to change, and I'm gonna go figure it out. So it gives me chills because she started to figure it out. Back in her day, she went toe adult education classes and start taking classes on money and start taking classes on investing. And she told my grandfather, weren't start saving to invest. And so she started putting 50 cents out of her paycheck and 50 cents from his paycheck, literally in a coffee can in the kitchen. How many of you remember coffee cans? Okay, you do because it's a young audience. But should coffee can in the kitchen? She put the money in the coffee can in order to save that money. She had a brown bag lunch, so she worked at Gimbels department store, Milwaukee, Wisconsin, and she had to find the money. A lot of factors later, we'll talk about how you find the money. In her case, you brown bag lunch and her friends teased her. They said, Oh, come on, come to lunch with this You're so cheap She would bring her Brownback Brown bag lunch and they would teaser for and she'd say, Well, I'm saving to invest and they'd say, What do you need to save to Investor? You have a pension? Bland. Someday she's like, Yeah, but it's not gonna be enough. And she said, But I don't want tea. Hated being miraculous calls. It was cold. I want to retire to Florida or California someday. You'll never have enough money to do that. She's like, I'm gonna try so she stays this money end of the year she takes it down to a brokerage firm. She walks in the door, She meets with the broker and the broker looks, Hearne says. We don't open accounts for women. You need to come back with your husband. No, I agree. Almost all women, this audience, my grandmother goes. There are four brokers firms on the street. If you don't want my money, I will just go next door. And they said, Ma'am, why don't you sit down on? She opens the account now. The where the story turns out is that that first year she loses everything she invests, which is amazing, because over her lifetime she becomes a millionaire the first year by getting stock tips. She just makes investments, cause she still doesn't really know what she's doing. And at the end of the year, she's lost everything and I go what it grandpa say, she said. I didn't tell him, So she did. The 31 I had to go learn, had to go learn better. You're seeing a second. I'm gonna say, When you know better, you can do better. She's in a 31. I'm still poor. I have to go get better. Let's skills, which is, by the way, why you're here. Create alive. You come to create alive to learn new skills that you either may not have or you're just not doing yet because a lot of what I might talk about today, probably most of it. You already know you should do it, but you might not be doing it. It's not enough to know it. You got to do it. So she learned how over her lifetime to invest and over her lifetime should give a self made millionaire.

Class Description

AFTER THIS CLASS YOU’LL BE ABLE TO:

  • Create financial freedom starting with as little as $5 a day
  • Learn how to earn 10% rates of return of your money
  • Understand the automatic millionaire habit that changes everything
  • Retire early or transition early to a life you dream of
  • Understand the FIRE movement and how to apply it to your financial future
  • Know how to become rich faster, as a freelancer or a small business owner
  • Use the Automatic Millionaire pyramid system to double your money in 10 years or less
  • Know which companies, apps and investments today are making managing your money easier and cheaper

ABOUT DAVID'S CLASS:

What if you didn’t need to be rich to live rich? What if there were a way you could achieve financial independence and live your dreams now?

In less than five hours – The Latte Factor Class can help you take control over your money and your life. Whether you’re just starting out in business, an employee, or you’re in debt and you just want to live the life you’ve always dreamed of, “The Latte Factor” is a one day program that has inspired millions.

David Bach is the Author of The Latte Factor and the creator of The Latte Factor Method. He’s also a nine-time New York Times bestselling author of books including Start Late, Finish Rich and The Automatic Millionaire. In How to Retire Early: The Latte Factor, David Bach will teach you why you are richer than you think. He’ll help you see a future that puts you in control over your finances and back in the driver's seat of your dreams.

It’s never too late to start living your dreams; today is your starting point. Whether you are living paycheck to paycheck, or simply want to increase your net worth, this class is for you if you’re ready for a fresh outlook on life and money.

WHO THIS CLASS IS FOR:

  • Anyone who wants to stop living paycheck to paycheck
  • Freelancers
  • Small business owners
  • People who want to live their dream life

ABOUT YOUR INSTRUCTOR:

David Bach is one of America’s favorite financial experts and bestselling financial authors of our time. He has taught millions to live and finish rich through his seminars, live events, courses and books. He’s the author of 9 New York Times best sellers, with over 7 million books in print in over 19 languages - including Smart Women Finish Rich, Smart Couples Finish Rich, and The Automatic Millionaire. He’s a media favorite having made thousands of appearances the past twenty years, including on Oprah six times and the Today Show over 100 times. David is the co-founder of AE Wealth Management and Director of Investor Education. His latest book is The Latte Factor: Why You Don’t Need To Be Rich To Live Rich. David presents seminars for and delivers keynote addresses to the world’s leading financial service firms, Fortune 500 companies, universities, and national conferences.

Lessons

  1. Class Introduction

    You don’t need to work five side hustles for the next decades to achieve early retirement. You don’t need to live paycheck to paycheck for the rest of your life. Meet David Bach and learn how small amounts of money can change your life. David shares his personal finance story starting from age 7.

  2. My Start in Investing and Teaching

    What did David’s first “financial advisor” teach him? Why is it so critical that women in particular begin their retirement planning now? David shares his investment history what you’ll learn in his book, The Latte Factor: Why You Don’t Need To Be Rich To Live Rich is about.

  3. Financial Education - Know Better To Do Better

    In this lesson, David paints a picture of the dire necessity of financial education for Americans. Learn about the mindset necessary for a happy retirement, how companies force employees out of work in their 50s, what rich people now that poor people don’t and how credit card companies prey on consumers. David lays out exactly what you will learn in this class.

  4. Start Early, Start Today

    Early retirees don’t all start with six or seven digit annual incomes -- most started saving and investing early. David shares a comparison of how early planning can immensely impact your retirement savings.

  5. The Latte Factor: How It Works

    What exactly is the latte factor and how can you find yours? In this class, David breaks down the latte factor math and shows you how to save money by cutting out small non essential living expenses and developing a daily mindset geared toward retirement. He also shares his pick of online resources and apps that aid in financial planning and investing.

  6. Student Success Story

    Hear directly from Elizabeth, a member of David’s inside team regarding her financial planning journey over the past 18 months.

  7. FITE - Financial Independence to Transition Early

    Learn about the FIRE movement and David’s take on transitioning vs retiring. David reviews how to plan backwards from your desired retirement age, introduces the 50/20 formula and shows the effect of turbocharging your income stream.

  8. Common Investment Mistakes

    Don’t make these common investment mistakes that won’t yield extra income. David gives advice on buying a car.

  9. Becoming Rich on an Ordinary Income

    You don’t need that much money to become rich or build up a nest egg. David shares research from Fidelity Investments that shows the concrete steps to take to become a millionaire through 401k investments.

  10. How Much do You Need to Retire

    How much should you save and invest or, as David says, pay yourself? See what you should be saving at 30, 35, 40, 45, etc.

  11. Retirement Plans & Where to start

    David orients you to the different types of retirement accounts available, highlighting their benefits depending on your needs. Learn the difference between a traditional vs. Roth IRA, spousal IRA, SEP IRA, 401k and solo 401k plan. What is recommended if you’re self-employed? What if you have employees? David answers your questions and points to brokerages, roboadvisors and apps where you can start.

  12. How to Earn 10%

    There’s a lot of talk about earning a 10% return on your investments -- how do you actually do it? David teaches you the rule of 72, a quick way to calculate how long it takes to double your money when calculations and retirement calculators aren’t at hand. David takes audience questions, addressing financial planning in relationships, investing while in debt, and his advice for self-employment.

  13. Investment Pyramid

    The opportunities for investment can seem overwhelming and intimidating; David presents an “investment pyramid”, displaying all investment options from low to high risk. Learn what makes a diversified portfolio and what David himself invests in. Lastly, David cautions against the high-risk investment zone and which investments to stay away from.

  14. Reasons Most Investments Fail

    In this lesson, David shares the top 4 reasons most investors fail; learn what not to do. See a historical representation of an investment from 1926 through today and learn why the stock market will always favor a “boring” investor.

  15. 5 Things to do During Market Correction

    Market corrections are normal and happen throughout history. David advises on what to do on your own or with your financial planner or advisor.

  16. Retirement Accounts and Investments

    What are target dated mutual funds, asset allocation funds, balanced funds and simplified ETF solutions? Why are they ideal investments? Which Vanguard fund does David recommend? David gives you homework in this class: crucial questions to ask yourself and actions regarding your 401k.

  17. Renting vs Home Ownership

    Why is real estate one of the best investments you can make in your future? David shares benefits and advice regarding mortgages, payment plans, bubble-proofing your real estate and how to become an automatic millionaire homeowner.

  18. Why Your Dreams Matter

    David closes, returning to the point of financial freedom: to live your dreams. He gives advice on different investments to consider depending on your time frame and how to plan a sabbatical. He ends the class with your final coursework: finding your latte factor and putting steps into place to start paying yourself first.

Reviews

Ling Fan
 

Great class! Concise and powerful! Wish I knew this 10 years ago.

Kennie Johnson
 

Very helpful and inspiring

Carlos Figueiredo
 

I thoroughly enjoyed the course love it!