Feel like you started saving too late for retirement? Do you think there is no hope of retiring, much less of being rich? David Bach insists that it is never too late to be rich. In “Start late, finish rich,” he shows you how to finish earlier than early starters, even if you’re starting late!

Part four: do more

This was probably my favorite part of “Start late, finish rich.” If you started later than you should, and you have reduced your expenses to what is necessary, and you are saving as much as you can and have automated all of these processes, you may still feel like you are hopeless. Sometimes, even with all that, you can’t save enough to make a big difference in your retirement fund. There just aren’t enough years left.

In the fourth part, David Bach asks, “Who says you can’t earn more?” and then proceeds to tell you how you can do just that. He insists that you don’t get rich by working hard; You get rich by working smart, and if you work smart you can increase your earnings.

But what do most people do when they get a raise? They spend more. Bach’s advice is to save and invest any additional income. Then, set a four-week action plan to get a raise.

Even while reading this chapter, I had to admit that I knew these things. I can’t tell you how many new hires I’ve encouraged to approach me when they feel they deserve a raise, even if it’s not officially review time. Do you know how many people have done it over the years? Not even a single one. Interesting, right? However, it is a fact that you are not likely to get what you do not ask for. How many people complain to their friends and family that they haven’t gotten a raise and yet don’t go to the only person who could give them one and ask?

Your first task is to decide how much raise to ask for and when. Then, using the 80/20 rule, create an action plan to maximize your productive activities and minimize busy work. The goal here is to make yourself more valuable to your employer. Then go to your boss and ask for a raise. If you’ve done your part, getting a raise should be a piece of cake. If not, it may be time to look for a new job. (That’s my own advice, not David Bach’s!)

Another suggestion Bach offers is to develop a second source of income by starting your own business in your spare time. While he can’t cover all possibilities in the scope of his book, he does offer some specific ideas: sell products or services on eBay; direct selling (also known as multi-level marketing); franchising; and real estate.

In fact, he dedicates two chapters of his book to investing in real estate; Discussing ideas, from buying a second home as a rental investment to remodeling homes in new developments and buying a building for your business.

Not all of these ideas will appeal to everyone. Neither of these ideas may appeal to you, but reading this section of your book could spark another idea for a side business that could start with little or no financial investment and funnel your earnings directly into your retirement plan.

The main thing to keep in mind when starting your own business is to resist the urge to rush and spend a lot of money trying to reach your goal quickly. The last thing you want to do when you start late is go into debt. Think of the tortoise and the hare: slow and steady wins the race.

By following David Bach’s advice on how to do more, you can really jumpstart your retirement savings. After reading the fourth part of “Start Late, Finish Rich,” you may begin to believe that, in fact, you can retire rich!