How to Pay Yourself First with David Bach | Chase Jarvis LIVE

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David Bach is a legend in the personal finance space — a master at helping creators and entrepreneurs make -and keep- more of the money we earn. He’s one of America’s best known financial gurus, having put nine consecutive books on the NYT best sellers list. In short, when David Bach talks - and you’re a creator who wants to make money - you listen.

We had David in the CL studios not long ago to share wisdom from his epic class Start Late, Finish Rich. Some of this material was so fundamental for creators making a living and a life doing what they love that I felt was crucial to get it seen by as many people in our community as possible. So much so that in addition to the class on CL, I wanted to share it here on the podcast, for free.

So…in this episode, David covers so many things, among them the mindset around how to best get paid…AND how to pay yourself first (as in pre-tax and pre-debt collectors). If this sounds curious already - it’s a must listen. Think you got it all sorted and don’t need financial advice? Think again. This is helpful stuff to anyone who wants to earn money over the long haul. From concept down to the detailed tactics, these 30 minutes are a quick code for getting your long term finances on rails.

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Chase Jarvis is well known as a visionary photographer, fine artist and entrepreneur. Chase is cited as one of the most influential photographers of the past decade. As an entrepreneur, Chase created Best Camera - the world's first mobile photo app to share images direct to social networks - sparking the global photo sharing craze. He is currently the founder & CEO of CreativeLive, the world's largest live-streaming online education company, having delivered more than a billion minutes of free live education worldwide.

[kingssman]

Very good advice but not a lot to save when you are poor where $5, 000 is already close to 20% of your income.

[LoveMyAbeshaWomen]

Hi David. I love your books. But just doing some basic math:

Person #1 makes $100, 000/year and only saves 15%.
Person #2 makes $30, 000/year and saves 30%. Well according to the formula here, person #2 should be wealthy. But person #2 will never save as much money as person #1. So the savings percentage doesn’t guarantee wealth.
How much do you save/invest every year and how much can you live on when you retire is what it really boils down to, wouldn’t you agree?