Start Late, Finish Rich Book Summary I Are You Late?

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Book – Start Late, Finish Rich (A no-fail plan for achieving financial freedom at any age)

Author – David Bach

Genre – Self-Help

Published in –2005

If you are convinced it’s too late for you, it doesn’t matter how old you are. Whether you’re 30 or 60, you’re correct.

– Start Late, Finish Rich

If you are reading this post or thinking of reading this book, I safely assume you resonate with the below points—one, few, or all.

  1. You’re in your late 30s, 40s, or 50s and haven’t come around to saving or investing as much as you want.
  2. You are so busy looking rich that you haven’t worked yet at getting rich.
  3. What you read, hear, or learn paralyzes you rather than empowers you to save or invest.
  4. You think you’ll be healthy long enough to start saving, investing, and getting financially free or well off.
  5. You’re spending more than you earn and carry lots of debt (Especially consumer debt, like credit cards).
  6. Lastly, you blame outside circumstances like government, economy, boss, or job rather than taking responsibility for your financial well-being.

I am convinced that the Start Late, Finish Rich book will empower you with step-by-step guidance resources to get you started on your way to a better financial life.

Here’s what the book claims

“What if I told you it’s not too late for you to finish rich? Even if you’re in your thirties, forties, fifties—even your sixties and beyond— you’ve still got an opportunity to put your life on the right track financially and stop worrying about the future.”

As you read the book, you’ll be convinced that the book serves what it claims.

The book also claims to be based on the following philosophy –

• It’s not too late to become wealthy if you start today.

• Even if you are buried in debt, there is still hope.

• You don’t have to make much money to be rich.

• You don’t have to invest in stocks to get rich.

• You can get rich in real estate—by starting small.

• You can find your Latte Factor®—and turbocharge it to get rich.

• You can start a business on the side—while you keep your old job and continue earning a paycheck.

• You can spend less, save more, and make more; it doesn’t have to hurt.

• You can and should reawaken your dreams and go for them.

About The Book

Start Late, Finish Rich book is one in a series of Finish Rich books by David Bach. This book, over and above making financial planning automatic, helps people in a category called “I wish I had started earlier.”

The book is divided into Five Parts with topics like getting started, Spending less, Saving more, earning more, giving more, and living more ore.

Here are excerpts from Each Topic –

Part I – Let’s Get Started

  • Oh, so you are starting late. Please give yourself a break, cut some slack, and stop beating yourself for being late. It’s only too late if you give up!
  • The bottom line is not to waste time focusing on what you weren’t taught, didn’t know, or haven’t done. You are where you are, and it’s time to take action.
  • It’s not a sprint; it’s a marathon, and no matter when you begin, you don’t start with a mile on day 1. So give yourself some time, start small, and you’ll catch up soon.
  • Stop asking yourself why you didn’t do what you should have done. The real question is: What will you do about it NOW?

Part II – Spend Less

paying for coffee with credit card
  • This is where it all begins; you must know where all you earn goes. Unless you know where you spend what you make, you will struggle financially, irrespective of your income.
  • Find your Latte Factor – David calls it finding your Latte factor; as you notice where you spend money, you’ll realize you spend on many things you can do without. On top of that, if you only put that money aside and invest, it will amount to big money in the long term.
  • David explains well how credit cards work, and getting out of it ASAP is better. You can’t get out of debt paying minimums. You can’t finish rich if you’re carrying credit card debt. Rule to follow – “IF YOU CAN’T PAY FOR IT IN CASH, DON’T BUY IT.”
  • This section in the book gives helpful tips to pay off debt, like getting a reasonable rate with the bank, merging debt into one bank, or Making the last payment.

Part III – Save More

Piggy bank photo
  • David suggests putting aside 12% of income, almost equivalent to 2 hours of everyday pay, unlike in The Automatic Millionaire, where he offers to set aside 1 Hour of payment in your Pay Yourself First basket.
  • If you can’t make it this much, don’t let it demoralize you. Start with 1% and increase it gradually; it’s the habit that matters more than a percentage. Once you get used to it, the positive effect of savings investing will empower you to do more.
  • Budgeting doesn’t work; the simplest and most effective way to Pay Yourself First is to imitate the government (collecting taxes) and automate the process.
  • Biggest of all, don’t put off saving until you pay off your debt. Use your pay-yourself portion to save and pay off excess on your debt equally. You will be more excited to put in the work, seeing your savings increased rather than only reducing debt.

Part IV – Earn More

money currency photo
  • If all you did was spend less and save more, you could probably start late and finish rich. But if you spend less, save more, and MAKE more, nothing will stop you from achieving your goal of financial freedom.
  • Even though you may not have your financial life in order, you have gained good experience, which can be utilized to earn more than you currently do.
  • It’s about taking responsibility and asking the right, positive questions. As you do, you’ll develop appropriate solutions to raise your income.
  • You may consider asking for a raise by adding more value at work, looking for a side hustle part-time job, and turning your hobby into a profit-making gig.

Part V – Give More, Live More

  • David reiterates the importance of giving. Whether it’s time or money is up to an individual or what one’s situation allows. Giving is a sure way to become rich and live fulfilled lives.
  • David claims that we don’t have to wait until we have money in the bank or till retirement. We must start living the life we want immediately or working on our ideal life.

I have also created a video of a few quotes from the book. Please subscribe to the YouTube channel self-help books quotes- Myread4change


As you complete reading this book and put suggestions into motion, you will see your financial life in order within a few years. And I believe sound economic life does have a significant impact on our overall quality of life.

You may download Start Late, Finish Rich free E-book copy here. You may consider following the author David Bach and his work for continuous guidance here.

I hope this book summary helped you in some way. Please share your thoughts in the comments. I would love to hear from you.

Thank you for reading. I wish you a good life.


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