David Bach

The system is designed for you to live paycheck to paycheck.

Everything in capitalism is designed to separate you from your wealth.

Your money moves automatically into three buckets that you need for your life.

The future, retirement, security for emergencies, and the third bucket is of your dreams.

Budgeting doesn't work.

It's difficult, boring, and people hate them.

You shouldn't be dependent on discipline.

It's like New Year's resolutions.

We basically give up on them by February and March.

The one thing that works is automation.

There are a lot of things that women do much better than men when it comes to money.

The bad news is you live longer, and that means you need more money set aside for retirement.

Two things build wealth, real estate and stocks.

Those are the two primary escalators to building wealth.

But what's happened is that there's been a generation of financial influencers that come on podcasts and tell people, you can make more money in stock market than real estate, you shouldn't buy a house.

And what gets lost in that message is this.

Unless you're going to live with your parents for the rest of your life, you're going to have to live somewhere.

It's not one or the other.

If you rent, that's like paying interest, only you get nothing for it.

When you own, you pay interest, but you have forced savings.