Early Retirement Expert: A House Vs Stocks, Here's The Truth!

**Steven Bartlett** (0:00)
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**David Bach** (0:59)
If you don't get in the game of home ownership and you rent in your 20s and you rent in your 30s, you're going to turn around in your 40s and having not built any net worth. And in fact, homers in America are worth 40 times more than renters. And I'm talking about ordinary Americans.

**Steven Bartlett** (1:16)
But that doesn't mean that buying a home made them rich, right?

**David Bach** (1:19)
It actually does. And I'm going to go through that.

**Steven Bartlett** (1:21)
Am I not better off renting and investing in the stock market?

**David Bach** (1:25)
I want to bust this myth because I have spent the last 33 years of my life helping millions of people with ordinary incomes become financially free, including nine years as a financial advisor at Morgan Stanley. And I got to see firsthand how everyone who came into my office with an ordinary income built wealth. And there's a formula to getting rich. But there's also a system to how you put your financial life on autopilot in less than 10 minutes. And it doesn't require discipline, budget, and you don't have to make a lot of money to get started. But unless your financial plan is automatic, it will fail. But more importantly, I believe the next 10 years will be the greatest opportunity to build wealth in our lifetime. And yet 7 out of 10 people right now are living paycheck to paycheck. More than 50% of Americans don't have savings. And most people don't know where their money goes. And in fact, when we ask people how much money would it take to totally change your life, they say $10,000. Now, how much money do you need to spend a day to blow $10,000 a year? $27.40 a day. If you invested that a day for 40 years, you'd have over $4,424,000.
That would be life changing.

**Steven Bartlett** (2:29)
But just before we get into all of the specifics and the strategies, do you have any specific advice to people that are currently straddled with debt?

**David Bach** (2:34)
Absolutely. There's a very simple formula to getting out of debt called DOAC. I'd tell you to...

**Steven Bartlett** (2:41)
Just give me 30 seconds of your time. Two things I wanted to say. The first thing is a huge thank you for listening and tuning in to the show week after week. It means the world to all of us. And this really is a dream that we absolutely never had and couldn't have imagined getting to this place. But secondly, it's a dream where we feel like we're only just getting started. And if you enjoy what we do here, please join the 24% of people that listen to this podcast regularly and follow us on this app. Here's a promise I'm going to make to you. I'm going to do everything in my power to make this show as good as I can now and into the future. We're going to deliver the guests that you want me to speak to and we're going to continue to keep doing all of the things you love about this show.
David, what has your mission been for the last three decades?

**David Bach** (3:34)
I have spent the last 30 years of my life helping ordinary people, people with ordinary incomes, become financially free. And the last 20 years, I've spent helping people become automatic millionaires. So I love to teach anyone at any income level, minimum wage, living paycheck to paycheck, you might be in debt, you might be struggling. I've taught millions of people how they can improve their life financially. That's what I've been dedicated to. And I've spent 33 years total in the financial service industry.