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His practical advice focuses on simple yet powerful strategies that anyone can implement tobuild wealth.
He recommends saving at least 10% of your pre-tax income.
Bach coined the term Latte Factor to illustrate how small, daily expenses add up over time.
Automate Your Finances
Automation removes emotion and discipline from the equation.
Bach recommends setting up automatic transfers to savings accounts, retirement funds, and investments.
Buy a Home Instead of Renting
Bach is a strong advocate of homeownership as a wealth-building tool.
Eliminate and Avoid Debt
High-interest debt is a wealth killer.
He suggests developing side hustles, rental properties, orpassive income streamsto accelerate wealth building.
This creates a significant margin for saving and investing.
Give Back
Perhaps surprisingly, Bach emphasizes that charitable giving should be part of your financial plan.
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