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, <a href="https://amzn.to/4cmjTNj" rel="noopener noreferrer" target="_blank">The Automatic Millionaire</a>. 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.Resources Related to the Podcast<ul><li><a href="https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator" rel="noopener noreferrer" target="_blank">investor.gov compound interest calculator</a></li><li><a href="https://www.artofmanliness.com/career-wealth/wealth/what-every-young-man-should-understand-about-the-power-of-compound-interest/" rel="noopener noreferrer" target="_blank">AoM Article: What Every Young Man Should Know About the Power of Compound Interest</a></li><li><a href="https://www.artofmanliness.com/career-wealth/wealth/index-funds-for-beginners/" rel="noopener noreferrer" target="_blank">AoM Article: Know-Nothing Investing — Index Funds For Beginners</a></li><li><a href="https://www.artofmanliness.com/career-wealth/wealth/net-worth-mentality/" rel="noopener noreferrer" target="_blank">AoM Article: Build Your Wealth — Graduate from a Paycheck Mentality to a Net Worth Mentality</a></li><li><a href="https://www.artofmanliness.com/career-wealth/wealth/a-young-mans-guide-to-understanding-retirement-accounts-iras/" rel="noopener noreferrer" target="_blank">AoM Article: A Young Man’s Guide to Understanding Retirement Accounts — IRAs</a></li></ul>Connect With David Bach<ul><li><a href="https://davidbach.com/" rel="noopener noreferrer" target="_blank">David's website</a></li><li><a href="https://www.instagram.com/davidlbach/" rel="noopener noreferrer" target="_blank">David on IG</a></li><li><a href="https://www.facebook.com/DavidBach/" rel="noopener noreferrer" target="_blank">David on FB</a></li><li><a href="https://x.com/AuthorDavidBach" rel="noopener noreferrer" target="_blank">David on X</a></li><li><a href="https://www.youtube.com/user/DavidBachTV" rel="noopener noreferrer" target="_blank">David on YouTube</a></li><li><a href="https://www.linkedin.com/in/david-bach" rel="noopener noreferrer" target="_blank">David on LinkedIn</a></li></ul>See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.

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