Finish Rich, Live Rich
Bach's own investment advice is to look for value and hold onto your investments for the long term.
He says day trading, or buying and selling stocks within the same day or week, or even month, is little more than gambling, and is not the way to acquire wealth over time.
Bach, who started buying stocks at age 7 under the tutelage of his grandmother, a self-made millionaire, says "finishing rich" is not just about money. It's about living according to one's values and creating a life rich in service to others.
Identifying values is key, he adds. Bach learned how to write down his own values and set goals by attending a series of seminars by human potential guru Tony Robbins. He credits the seminars with his transformation to published author and media personality.
That came when Bach first voiced his desire to write Smart Women Finish Rich at a Robbins seminar in 1996 where participants were stating their goals and dreams. By the end of the session, a woman in the group who had worked on Robbins' books had volunteered to help Bach write his book proposal. Eight months later, Bach was assisting in Robbins' Wealth Mastery seminars.
Bach says he has grown up fast in the past year to the ways of the publishing and media world. His biggest financial blunder, he says, was signing contracts too fast early on, without building in protection and compensation for future growth or success. Now, he says, he has his attorneys thoroughly review all contracts before signing.
Bach, a San Francisco native who attended the University of Southern California, is enjoying his new life. He loves his role as teacher and coach to women and men, and parents in particular. "People deserve to both finish rich and live rich," Bach adds. "It's not just about money. Finishing rich is about money, but living rich is about living a life according to your values.
"It's about being a better person and adding more value to this world," he says. "You can use money as a tool to do that. That's what it's all about. It's about giving back."
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