How To Turn $15,000 Into $1.6 Million Without Adding Another Dollar | David Bach

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David Bach is a ten-time New York Times bestselling author and the man behind The Automatic Millionaire. In this episode, David and Tommy break down why $3,000 a year saved from age 15 to 19 beats saving from 27 to 65, the one hour a day rule for retiring a millionaire, why a tech making $250,000 can still be broke, why owners should buy the building their business is in, and David's idea for a flat tax on IRA accounts.

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-- 🕐 TIMESTAMPS 🕐 --
00:00 - Introduction
01:37 - The Number One Rule: Pay Yourself First
03:17 - Save One Hour Of Pay A Day
03:57 - How 565,000 People Became 401(k) Millionaires
06:46 - The Myth About Investing Aggressively When You're Young
07:32 - Tommy's Roth IRA At 16
08:56 - What $20 A Day Becomes
10:06 - The $27.40 A Day Leak
13:38 - The Corvette Ride That Started It
16:19 - Born To Spend Or Born To Budget
18:15 - A Lesson At McDonald's At Age Seven
24:10 - Homeowners Are Worth 40 Times More Than Renters
27:31 - Why A Garage Door Is Worth Financing
28:29 - Buy The Building Your Business Is In
30:04 - Wealthy But Not Free
31:49 - Why High Earners Start To Resent Their Jobs
32:49 - Making $250K With Nothing Saved
35:25 - The Chart: Start At 15, 19 Or 27
39:33 - Why David Holds Zero Private Equity
41:07 - The Advice He Wishes He Had At 20
45:01 - Batteries Included People
48:11 - $46 Trillion Sitting In Retirement Accounts
50:42 - The IRA Flat Tax Idea
58:37 - Social Security In 2033
1:00:48 - Why The Trades Aren't Going Away
1:01:40 - The Barber Who Saved 75% Of His Income
1:04:55 - What Money Taught David About Himself
1:08:10 - Discipline And Non-Negotiables
1:18:05 - What People Said At His Father's Funeral
1:25:00 - The 20th Anniversary Edition

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