Lessons
Introduction to Workshop
23:15 2Meet The Automatic Millionaire
11:10 3The Automatic Millionaire Blueprint (Make It Automatic)
25:34 4Find Your Latte Factor
24:42 5Couples & Money
10:02 6The Best Financial Apps & Tools
25:47 7Pay Yourself First!
20:46 8The 5 Biggest Retirement Account Mistakes
14:43Retirement Accounts & Investments
08:30 10Organize Your Money
15:28 11Crush Your Debt
21:45 12Learn Your Credit Score
16:49 13Be a Homeowner Not a Renter
21:11 14Create a Financial Protection Plan
10:26 15Build a Dream Account
04:43 16Grow Your Income
30:50 17The 6 Biggest Mistakes Investors Make
11:01 18Smart Women Finish Rich
21:37 19Your Purpose-Focused Financial Plan
17:42Lesson Info
Build a Dream Account
We talked about your retirement account. Now, I want to talk about everything between now and retirement. Those are your dreams. So, you tell me something that you want to do in your life that has nothing as retirement and chances are it's going to fall into a dream account. That could be your vacation account. That could be buying your first home. That could be buying a second home. That could be going on a great trip. That could be quitting your job. Some of you watching right now, I know that your number one goal and dream is actually to get the hell out of where you are right now. I can imagine it's going like this, "Oh, no! He didn't say that!" But it's true. They say one out of three Americans fundamentally hate where they are working and if they could quit their job in the next 12 months, they would. Which is depressing as can be but it's true. So, if maybe you want to quit your job and you want to go run your own business, or you want to find a new opportunity, dream account ca...
n help you do that. So, I have this cute little boxes here. This was in your worksheets. It's really mind mapping, kind of like what she's been doing over here. This is like your own little mind map where you go, "Where are some of my dreams?" And what I recommended in smart couples actually was that you make a whole list of dreams. That you take 30 minutes and you just brainstorm with the journal and write out all your dreams. Don't bound on papers, many dreams as you can think of. And then take a look at those dreams. And go, "What am I really most excited about?" Take a look at what those dreams cost. Because here's the interesting thing, when you brain dumped down your list of dreams, what you're going to find out is that a lot of your dreams don't take a lot of money. In the very beginning of the presentation I said in class, I said you don't have to be rich to live rich. Remember that? Say it again, you don't have to be rich to live rich. A lot of your dreams don't require money. They just require your action. Getting your dreams down on paper shows you that. When I did this exercise the first time, I had this mark couples finished, reached my wife, read that section of the book and she's like, "You know, this is great book. We should try some of this stuff." What are you talking about? We do all this stuff. And she's like, "Yeah, but that all dream thing." She's like, "We could do that, we could really blow that out." We were on a plane flight. So, we literally took an hour. We took our yellow pads, we made our list, and then we just walked the list. And it was really interesting because this is great for couples to do. We had things on our list we had never talked about. I had down on one to take a biking. She had down she want to take a biking. Neither of us own bikes and neither of us said ever talked about biking. We both had down we want to go to Montana and we both had down we want to get involve in the Chervokas. Literally, like ten minutes after we had this conversation about our dreams. I'm flipping through a magazine. I see Israel, Montana, seven days, 575 miles, raise money for AIDS research. I'm like, "Honey, look we can get three of these dreams done in just like that in 90 days!" She's like, "Are you crazy? We don't even bike, we don't have bikes." We got home, got home from that plane flight. We had money in our dream account 'cause earlier I said you might put money in your dream account and not know what it's for and then dream will just show up. We took money out of dream account and went down to buy bikes. Transfer 90 days to that ride across the state of Montana. We raised over 20,000 dollars for AIDS research. This was back in the 90's. One of the great experiences actually of my life, all came from this conversation. So at the dream account, you think about your dreams then you create investment accounts for your dreams. Your investment accounts should match your time horizon. So, if it's less than two years, you'll going to use one of those online money savings account to talk about earlier. Once you get to three to five years, you should consider bonds or T-Bills or Bond Funds. Three to ten years, you're going to look at stock funds, balanced funds. Or you'll use one of those diversify robot advisor portfolios. You'll use like acorns or stash or everyone of this other firms. Once you get passed three years, then you can start looking at a more diversified portfolio.
Class Materials
Free Bonus Materials
Bonus Materials with Purchase
Ratings and Reviews
user-ae5551
Wow! I wish they taught this in school and I would be in a better financial position in my life than I am today. However, I feel hopeful and empowered after watching David Bach speak and I am taking the first step by upping my 401k. I appreciate the realistic approach to wealth and not a get rich fast scheme we all too often hear and the esoteric approach to wealth/happiness that was discussed at the end. Wealth is truly freedom, not just being "rich". Thank you again David and Creative Live!
Jamie
As a self employed musician and artist, I have been a long time follower of David Bach! Every penny made as an artist counts, and David will help you make the most of it. This class and his books are life changing! I started following him 15 years ago. Financially I have had amazing years, and very rough years, which I know is very typical for artists and musicians. With David in my corner, I've always had peace of mind. From the beginning, when I was in deeply debt and couldn't even afford health insurance David gave me hope. Because of David's teachings, I now own my home free and clear, and have a nice retirement account building, as well as savings, and accounts growing for my children. While both my children are under the age of ten, I take every opportunity to teach my children how understanding money can free you to follow your dreams! A huge YES for this class! Thank you David!
Muniesh Khandelwal
S.M.A.R.T class. Action items well discussed. This is a must have class for those who want to move from a fixed mindset to growth mindset, literally through their own wealth portfolio. This class will show one the balanced pie approach towards wealth, it will challenge you to take action, and it will show you if one follows the strategies and takes actions, they will have a wealthy and a wise life. So glad at myself, that I invested my time to take this class
Student Work
Related Classes
Money & Finance