Because of Dave Ramsey, my husband and I are on track to be debt free besides the house within a year!!!!! Then we plan on paying the house off within 3!!! All at the age of 23
Watching Dave for years now I believe it's the Christian In my belief that keeps me grounded and coming back so I went from being 1.6 million in Debt in medical bills due to having a child born with a syndrome and needed extensive surgeries in home nursing to having a balance of less than 5k to pay off but that's it I have my emergency fund and on track to be debt free by 10/24 lets go!! Thanks Dave and the good lord
Congratulations! We will be debt free the same month! Since 2022 until July of this year, we will have paid off a little over 100k in debt! Cant wait to move on to baby step 3!!
You must believe everything he says lol. Why so butt hurt about people disagreeing? there’s so many ways to make money and be wealthy not just his way.
@@notgivingmyemail3381Exactly! It's entertainment! I love hearing from the callers about all the stupid mistakes they've made. And occasionally one of the Ramsey personalities comes up with a kernel of good advice which they don't tie to some sort of far right messed up doctrine. So it's worth it for that, too.
"No excuses, you wuss," It's like what my pops told me when I was 22 years old, unemployed, broke, with no direction, college drop out, living at home rent free. After I hearing that, I joined the U.S. Army, got out after 7 years and now making well over 6 figures at my current job. If I can do it, anyone can do it. literally anyone.
Very proud of you for growing up and becoming self-sufficient. You're someone to be admired for that. Thank you for your service, keeping me safe. GOD bless you.
@@javonblaise5594, sure it does. He said well OVER six figures. OVER. What do you think over means? Over means greater than the number stated. Example: 5 is OVER 4. Therefore, seven is over six. What’s “well over,” as another example, $850,000? Why, sir, $1,000,000 would be an acceptable answer. 🤦♂️
Just paid cash for our first vehicle..the bank acct took a huge hit but by paying cash and avoiding a 9% interest and knocked out 1 bill def felt good ..on our way to financial freedom. Live like noone else so you can live to noone else! 2 bills left!
Something that's stuck with me is when he said when you pay interest you're paying for the bank buildings. And years ago he said people get a great price on a house and they take out a 30 year mortgage and depending on the interest rate they might be paying 2 to 3 times more than that " great price " they got. So it really makes sense to do a 15 year fixed and pay it off as soon as you can. And you know that everybody reading your post is so happy for you!
Ugh. 620 bucks for unexpected car repairs today. Thank God for emergency funds. It was painful to spend but not a panic. Now I am motivated to create a sinking fund for car repairs.
“If broke people aren’t making fun of you, you aren’t doing it right!” 🤣 relatable. I have over 100k in savings, no debt and my broke friends like to give me snarky comments OH OK 🤣 I still treat myself of course. Planning on getting my own place soon, beginning to invest 15% a year then aggressively pay off my mortgage. I’ve only recently found this channel and it’s given me such a confidence boost. Now to work on baby step 4 and 6 😁🙏
With all the internet gurus these days this show is a great reality that is truly needed. Especially for young people who are wowed by social media and think there is a quick way to make it or can just snap a finger and become an “influencer”. 🤢
@@doubanjiang I can't speak for everyone else, yet I own a house and property. I live simple, unlike other people who drive around fronting like they have it all. Good credit is more Debt. If I drive it, I own it. If I live in it, I bought it.
I can't say this is true for everybody but I have no idea what year car anyone is driving. So when somebody pulls up to the light to impress somebody there, I'm not sure everybody's impressed!
Mr.. Ramsey,,, God bless you for all help You give to Americans people or who want to lean about financial…I listen your videos for many years two to three times, because English is my second language to follow your recommendations,,, I make a mistake to buy a car and after listen your videos .. . After that I called my Credit Union Bank give me loan and I paid off that car without surrender,,, and now I working with my debts…..Also your books are a key of peace and prosperity…Long Life for You Mr.. Ramsey and your staff… Thank You Mercedes Biosca ..
Not gonna lie, I haven't gotten past 30 seconds in the video at this point, but I want to thank Ramsey and the team! I freaked out about rent, bills, debt, etc.. and RIGHT AWAY am starting to see results and PEACE. Sure, there probably are some different ways about going about debt, retirement , etc.. that also work but this is HANDS DOWN the most universal system to become stress free financially. I am a pizza maker that makes $50k a year with $10k in debt and now feel COMFORTABLE paying my rent, bills, and even having something to play with (a little). Bottom line 4 walls first (screw debt) THEN baby steps to get on track.
@@matthill2957Your mortgage/rent (which is part of the four walls, but not all of it) should be no more than 25% of your take home pay. So the four walls will likely be more than that. Not the end of the world.
Dave Ramsey really helped me get my stuff together. He helped motivate me to pay off old debts that I had previously resigned from my mind due to necessity at different times.
We’ve done 4 moves with the military and we sold each of our homes for more than $100k profit at each, and the most being $300k profit this last posting. 🤷♀️
Been saving for 5 years now living on the streets to save and finally looking to pay cash for first home. Sacrifices for 46 years now I guess its time to be comfortable and start living.
I am from Europe have been watching you for a while now and getting out of my stupidity debt! Your plan works also for European. Currently liquidating some stocks to pay may 10k tax debt for some peace of mind. (It’s not my pension money 😅) Thanks for helping in the change of my behaviour. Gonna buy a book from your site for each of my siblings xmas!
I don’t think that’s what they were saying- I believe they say your income is your best tool in the moment to start building your wealth, intimately it’s how we delegate the funds after our pay over long term which determines our trajectory. In the 1:57 area of the podcast I believe the top 3 lines of career listed which lead their research of 10,176 millionaires, were modest career choices, not doctors or lawyers, etc.
Or just living within your budget. Someone who makes 50k cannot live like some who makes 100k. They can both save the same amount if they live within there mesns
In 2018 I didn't NEED a new car.. my aging Subaru was doing fine BUT I was watching the global economy, the steel wars with China, the emerging chip shortage, used parts issues, and I thought.. BUY NOW to avoid higher prices / shortages down the road. So I picked up the phone and got a new Outback... paid cash. So glad I paid attention to the global economy. I also had a used Camry ($15,000 sweet little car) that I no longer needed (Snowbird car), four years later I sold it for... (((drum roll))) $15,000. This is one crazy world.
27:11 this made me feel a lot better because I’m 31 with nothing in retirement. I’m $800 away from finishing baby step 3 and next year I am throwing all extra money I have at my mortgage (7.25%💀) and THEN I am going to start investing so I’ll be the same age as this caller.
A management fee is extremely common in today's financial planning market. So don't be scared off by that. Look for someone who listens and shows/teaches/informs you what they are going to do. Charging a fee prior to meeting or in order to meet is flat out ridiculous. And yes DR does get paid for referrals and having people listed as "smart-vestor pros."
I clearly need to learn about these mutual funds. I'm going to be buying these books they are talking about. I grew up with parents that really had no financial expertise. My parents have no money saved, my dad is 62, my mom 57, and they live less than pay check to pay check and use a bank over draft every month. It's breaks my heart to see how they are struggling and how they are going to. Both have serious health issues and can't afford to rest. I'm a single mother, and I don't want that future. 37 can't be too late to get things turned around.
David Ramsey. He makes since for the most things. What about us people that so only get social security I get Medicaid and food stamps. There is not much for us we can do. I do like listening to here what he said.
Its crazy that Dave is a multimillionaire and still doesn’t drive his truck because he wants to keep the mileage down because he doesn’t want it to depreciate. Yet, he admits it depreciates just sitting there. One reason to be wealthy is to fully enjoy the things you have. Life is too short to worry about money all the time, especially when you're wealthy
No he does use it daily to go to the office but it is stupid to use it on road trips especially since it needs more gas and more stops and again it will mess up a joy. If you love something u take care of it. He still uses it like I said so he's doing everything smart. If he did what your asking then he wouldn't be a millionaire now would he?..lol thats poor decision making on your part.
I really am happy I started watching your videos. I love them. Realized that I was already on baby step 6. Thank you for sharing your knowledge and advice.
took the Ramsey advice and finally got out of debt and and now saving and have emergency fund, originally living pay check to pay check ..... so glad i listened
Get the car but also plan on keeping till its a classic. Also keep all the oem parts to swap back when that car hits classic after 25 years the value will come back. How does a car guy not know this. Also I assume this is a used car. Some of the depreciation has already been baked in. If your not going to drive it much is more of the reason to get that particular vehicle. The km's will stay low which helps resale value.
I was just in Clarksville doing construction with some out of state winter work. I’m from Minnesota sorry that we brought our weather down there. Jeez Louise snow down there last week was a disaster.
Similar to: If you can’t afford to raise them yourself, don’t have them. I believe in helping the people, but I don’t believe in funding the stupid and the lazy.
2:00 debt free, I want to buy a 30k sports car for fun. Should I pay in cash or invest with my cash? 10:07 I just received a huge inheritance. I'm intimidated. How do I make the most of this?
Funny when someone who doesn’t know anything about cars act like that know about cars lol. George said that Tacoma is going to be worth $5k when it hits 200k 😂. Find me one and I’ll buy as many as you find.
I agree. I have a 2012 Tacoma with 150k miles that I bought in 2020 for a lot more than 5k. These things will run forever with regular oil changes. They hold their own
The smart vestor that was recommended to me by Dave in my are was awful. We now have a wonderful one with Edward Jones. Just because they are on Dave's list doesn't mean they are good.
💯Our experience as well. The SmartVestor was terrible and we dropped him right away. Wanted $750 up front before he would even set an appointment to see what our experience and questions were. Now we are with another investor and doing great.
I recall reading that Ramsey's Smart Vestor Pro's pay Ramsey regular fees to be recommended by Ramsey. Ramsey gets his fee and you never know what you'll get. If an advisor is a good, they don't have to pay to get referals. They are recommened by their happy customers.
They recommend like 5 and you should meet with them all to find who you are comfortable with. We had 1 that wasn’t up our alley that wanted a fee for planning. Ultimately we went with one that listened and understood what we were looking for right now as well as in the future, and the only fee is from the returns based on how much they are managing for you
Edward Jones doesn't employ financial advisors....they employ sales people. Not to mention the fees that kill you via 1000 cuts. Get out of there ASAP.
Dave- That’s where Chevy got “like a rock” 🪨…goes down in value 😂 amen Dave. Junk too. (Extra sad how quick those suckers rust too! Even newer!) Toyota or Honda all the way baby. Maybe Subaru.
No mutual fund makes 10% each year, year after year. You don’t double your money every seven years. If you double your money every ten years consider yourself lucky. There are huge dips in the market that take away the high returns in the good years and you do not end up with 10% returns after the MER.
He has explained in previous shows that mutual funds fluctuate can be 8%, can be 15%, so he uses 10% as an average. Many mutual funds perform at 10%. Mine have, and with fluctuations 10% is a decent avg to go by. It also makes for easier math when calculating quickly on-air, I am sure.
What matters if the vehicle passes inspection. Mileage means nothing, and price does matter because because of depreciation value. In other words... Cheaper the better, but just matters if the thing runs and passes inspection.
Will from Atlanta should put it all in an ETF replicating the S&P500 and leave it for 20 years then retirement with 5,127,052 dollars (8% annual return assumed). Get tax advice on how to shelter the capital gains and dividends taxes. Wow, what a blessing!!! This is not financial advice. I am a finance expert.
I mean, I can brag about my credit card rewards because I don't pay any interest on them. I only get rewards. I pay them off each day, as a matter of fact.
@@Resident1157 what are you talking about? As long as you pay your balance in full every month you don’t pay interest. If you made recent transactions they are on your next months statement. This isn’t a secret. I myself make over 3k a year on cash back and travel perks. It’s not rocket science
Same. I carry no balance on my credit cards and never use cash or debit. I reap the rewards for gas, groceries, and essentials. It takes discipline which the average USAmerican lacks, unfortunately.
I like credit cards. With debit cards (or even atm withdrawal), I worry if I have enough money in the bank to cover the purchase. With credit cards, I only have to check my bank balance and do my money shuffling act once or twice a month. I keep just enough money out for monthly expenses.
How do stop all entertainment/spending time with family out-of-state without having burnout or resentment while paying off debt? I've followed the baby steps and keep getting setbacks because of car and house and I just need to get away and take a breathe once in awhile because it's too much for me to handle. I can't get past step 3 no matter what I do.
As someone who grew up dirt poor, there are a million ways to find entertainment and community without spending a bunch of money. My mom took us to every library event, every free movie they would show on the projector at the park, every free museum, hiking, reading, the list goes on and on. It's a false idea pushed by advertisers that the only way to be entertained is to rot your brain with movies, video games, and lavish vacations. I'm not judging you, because I also developed expensive tastes once I started making my own money, trying to shake the feeling of poverty from my youth. Ultimately, the only thing that works is breaking that mental connection between money and joy. Money can buy some very fun things, but it's not the only way to have a meaningful life. If it was, human beings wouldn't be here, because we didn't have extravagant forms of entertainment throughout most of our history.
@@BlakouttheMM nothing you commented has anything to do with my comment regarding spending time with family out-of-state. I agree, society does advertise falsehoods. I do take advantage of many free events and things offered in my area. I don't have expensive taste.
Hi, I'm at Charis Bible College in the UK and have just come across you through our teaching. I'm wondering whether you can help me here in the UK? Thanks Joanne
I love Dave so much. He was saying shut up, and it tickled me because of all the snowflakes out there. Its a tough thing to hear, but some people need it said to them like that or they don't hear you. He is just trying to wake them up and not let them make excuses for not getting their finances straightened out.
Am I the only one who doesn't have "getting wealthy" as their life goal? As long as I'm out of debt and have everything I need and most of what I want, money holds no value to me. I live on a very small social security check and just started a part-time job because it is something I enjoy doing and the paycheck will just be a bonus. Never made a lot of money but always had a nice place to live, a halfway decent car to drive and never once had to worry about having enough to buy groceries or to pay for a medical bill. God is good.
Well I pray 🙏 nothing big comes your way and you are as prepared as you can be in case of a big disaster. There is natural disasters, there is theft, there is a lot of uncertainty. A good million would be a nice cushion for retirement. You never know how long you will live and how mobile you will be the last decades. It's not bad to enjoy yourself. Go to the beach or the park and love. Don't spend and save is just smart.
@@marisolh4349 I didn't say I don't have money set aside or I don't save. I just meant that money is not a big focus of my life. If I lost everything I would still be okay because I don't have expensive tastes. Too many people are so convinced that they need a "million" before they can retire that they are working themselves to death. Most people do not have to have a million in their retirement. There's a lot of freedom in knowing how to live simply and still have a full life. What is going to happen to all the millionaires if the dollar crashes and loses it's value?
Right on fella. These young ones are young and hungry. They will learn as they go. They will still get sick, they will watch people die, they will have pain. Money is nice but a well lived life much more important. Doing for others. Being helpful. Giving to charity. Important stuff
Good Day, I know this video was posted over a month ago; however, I came across your channel, and I would like to ask this question; I currently have a mortgage for a house I am renting. Does it make sense to pay off the mortgage earlier or to put the payments towards a deposit for another house?
@@janfoselli5823 wow! Well 11% is amazing! Thank you! I'm definitely going to call Fidelity today because mine is only averaging 7.8 for the last 10 years and I am in 2050 Target Fun date. If you're getting 11 that is huge.
“You Lefty Communists” ?? I am a Liberal but I am NOT a Communist, Fascist or Socialist! How dare you?? I agree with your financial principles, which is why I’m here-to learn! However, I really dislike when you insult a section of your viewers like that! Grow up and stop insulting people who disagree with your politics!
Baybnj- the liberals of today. I think they are called progressives are nuts. Now you don’t sound like you fall into that category. They believe in socialism and if you don’t you might be an old school liberal like me. Nothing compared to what is going on now. These folks are cucko for coco puffs
credit card is bad and good at the same time. I've been using credit cards for 10 years and never paid a single dollar of interest and always got cash back. the way I do it when I want something, I have the money. I pay it with my credit card, and after paying the credit card before the cycle. I don't buy anything because I want it I buy because I need. ex. you need a car but you want a BMW.
Because of Dave Ramsey, my husband and I are on track to be debt free besides the house within a year!!!!! Then we plan on paying the house off within 3!!! All at the age of 23
Congrats!!! You two are the few that are disciplined. Well done.
That's amazing to hear! Congratulations.
congratulation's!!! That's awesome!!!
Great, you can do it. Be weird
Great job
Watching Dave for years now I believe it's the Christian In my belief that keeps me grounded and coming back so I went from being 1.6 million in Debt in medical bills due to having a child born with a syndrome and needed extensive surgeries in home nursing to having a balance of less than 5k to pay off but that's it I have my emergency fund and on track to be debt free by 10/24 lets go!! Thanks Dave and the good lord
Amennnnnnnnnnnn 🎉
WE will be debt free this July 7/24 the excitement that we see when we write down our bills is fresh breath air.
Congratulations! We will be debt free the same month! Since 2022 until July of this year, we will have paid off a little over 100k in debt! Cant wait to move on to baby step 3!!
Congrats!! I hope you made your goal!!! We got this!!
It is facinating how many people disagree with Dave on almost every level and yet still spend their time watching and commenting.
And still being broke doing what everyone else is still doing.
@@mmp495 exactly!
I disagree with a lot of things characters in the movies and on TV do, but I still watch them. This is no different, it’s entertainment.
You must believe everything he says lol. Why so butt hurt about people disagreeing? there’s so many ways to make money and be wealthy not just his way.
@@notgivingmyemail3381Exactly! It's entertainment! I love hearing from the callers about all the stupid mistakes they've made. And occasionally one of the Ramsey personalities comes up with a kernel of good advice which they don't tie to some sort of far right messed up doctrine. So it's worth it for that, too.
Did our debt free scream Valentine’s Day 2022! Will have our home paid off this year hopefully in October. Thanks uncle Dave!
"No excuses, you wuss," It's like what my pops told me when I was 22 years old, unemployed, broke, with no direction, college drop out, living at home rent free. After I hearing that, I joined the U.S. Army, got out after 7 years and now making well over 6 figures at my current job. If I can do it, anyone can do it. literally anyone.
Yesss! 👏 🙌
Very proud of you for growing up and becoming self-sufficient. You're someone to be admired for that. Thank you for your service, keeping me safe. GOD bless you.
You’re making well over six figures, meaning a seven figure or eight figure income?
@@Melifter”well over 6 figures” doesn’t skip to a million dollars
@@javonblaise5594, sure it does. He said well OVER six figures. OVER. What do you think over means? Over means greater than the number stated. Example: 5 is OVER 4. Therefore, seven is over six. What’s “well over,” as another example, $850,000? Why, sir, $1,000,000 would be an acceptable answer. 🤦♂️
Just paid cash for our first vehicle..the bank acct took a huge hit but by paying cash and avoiding a 9% interest and knocked out 1 bill def felt good ..on our way to financial freedom. Live like noone else so you can live to noone else! 2 bills left!
Something that's stuck with me is when he said when you pay interest you're paying for the bank buildings.
And years ago he said people get a great price on a house and they take out a 30 year mortgage and depending on the interest rate they might be paying 2 to 3 times more than that " great price " they got. So it really makes sense to do a 15 year fixed and pay it off as soon as you can. And you know that everybody reading your post is so happy for you!
@brookelondon8029 thank you 😊
Debt free because of Dave, mortgage will be paid off in 6 years, $35k emergency fund completed!
Thank you Dave!
Must feel good. Keep it up 👍🏾
Ugh. 620 bucks for unexpected car repairs today. Thank God for emergency funds. It was painful to spend but not a panic. Now I am motivated to create a sinking fund for car repairs.
$620 isn't much nowadays for car repairs... that's why I got a vehicle I can fix myself
@@Nigriff yes I'm grateful it wasn't more. But new spark plugs and thermostat and engine light is still on. Feels like wasted money
This was me today lol
@@SarahEmelia-d4qdid they say what the engine light codes were?
save so much doing this
“If broke people aren’t making fun of you, you aren’t doing it right!” 🤣 relatable. I have over 100k in savings, no debt and my broke friends like to give me snarky comments OH OK 🤣 I still treat myself of course. Planning on getting my own place soon, beginning to invest 15% a year then aggressively pay off my mortgage.
I’ve only recently found this channel and it’s given me such a confidence boost. Now to work on baby step 4 and 6 😁🙏
With all the internet gurus these days this show is a great reality that is truly needed. Especially for young people who are wowed by social media and think there is a quick way to make it or can just snap a finger and become an “influencer”. 🤢
Most people on the highway don't even own the cars they drive.
most people don't own the homes in which they live. your point?
@@doubanjiang I can't speak for everyone else, yet I own a house and property. I live simple, unlike other people who drive around fronting like they have it all. Good credit is more Debt. If I drive it, I own it. If I live in it, I bought it.
I can't say this is true for everybody but I have no idea what year car anyone is driving. So when somebody pulls up to the light to impress somebody there, I'm not sure everybody's impressed!
Mr.. Ramsey,,, God bless you for all help You give to Americans people or who want to lean about financial…I listen your videos for many years two to three times, because English is my second language to follow your recommendations,,, I make a mistake to buy a car and after listen your videos .. . After that I called my Credit Union Bank give me loan and I paid off that car without surrender,,, and now I working with my debts…..Also your books are a key of peace and prosperity…Long Life for You Mr.. Ramsey and your staff… Thank You Mercedes Biosca ..
Not gonna lie, I haven't gotten past 30 seconds in the video at this point, but I want to thank Ramsey and the team!
I freaked out about rent, bills, debt, etc.. and RIGHT AWAY am starting to see results and PEACE.
Sure, there probably are some different ways about going about debt, retirement , etc.. that also work but this is HANDS DOWN the most universal system to become stress free financially. I am a pizza maker that makes $50k a year with $10k in debt and now feel COMFORTABLE paying my rent, bills, and even having something to play with (a little).
Bottom line 4 walls first (screw debt)
THEN baby steps to get on track.
Ypur 4 walls shouldnt equal more then 25% of your take hoke tho
@@matthill2957Your mortgage/rent (which is part of the four walls, but not all of it) should be no more than 25% of your take home pay. So the four walls will likely be more than that. Not the end of the world.
My father said if you can't pay for it you don't need it
When he died he didn't owe anybody anything and left my mom financially fixed for life
I’m completely DEBT FREE! THANKS DAVE RAMSEY & MY LATE FATHER DAVE being a great example. Live a life of integrity, debt free & give generously. 💕💓❤️
I love how George calls him out and asks if he loves the house in Kentucky more than he loves his kids.
I love it how Dave always says George is the king of snark and then when George is snarky is goes straight over Dave's head.
Dave Ramsey really helped me get my stuff together. He helped motivate me to pay off old debts that I had previously resigned from my mind due to necessity at different times.
Found Ramsey 2024, I’m 29 turning 30 this year, and will be debt free by my birthday after following the baby steps🙌❤
I relate to Seth and Ciara’s story, finding Dave on RUclips changed my life!
Same here. So peaceful ❤
Yep, turned me from renegade idiot investor to “cash is king, debt is dumb” easy life spend less than you earn. With no debt it’s easy
We’ve done 4 moves with the military and we sold each of our homes for more than $100k profit at each, and the most being $300k profit this last posting. 🤷♀️
25:00 vehicles are meant to be driven not to be kept in garages or showrooms
❤❤I never want to be broke again. I will practice everything I know to be comfortable. I am not rich I just want to be comfortable and debt free.
Great plan. I feel the same way. Don’t need to be rich, but have my necessities met n I’ll b happy enough.
That enough comfort be at peace
Been saving for 5 years now living on the streets to save and finally looking to pay cash for first home. Sacrifices for 46 years now I guess its time to be comfortable and start living.
Good luck you friend. You deserve a comfortable, blessed life
Very cool, I like how you're giving the book to your guests 🎉
"Baby Step Theme Hour" needs to be more regularly.
It that simple Dave ! Live by our means and stay away from toxic people and stay away from negative people.
Baby steps millionaire hour woohoo!!! Its been a while ❤
Horses are amazing creatures but in most cases, owning a horse 🐎 is a second mortgage 💸 💸 💸 Horse Poor People. 😢
I heard a guy say horses are for kings and fools.
Omggg “like a baptist looking for a casserole” killllllled me
Also, "That call was an accordian." 😂 That one got me, too!
I am from Europe have been watching you for a while now and getting out of my stupidity debt! Your plan works also for European. Currently liquidating some stocks to pay may 10k tax debt for some peace of mind. (It’s not my pension money 😅) Thanks for helping in the change of my behaviour. Gonna buy a book from your site for each of my siblings xmas!
I love how Dave puts other people on!!
How to build wealth? Choose the right line of work.
That’s the best advice of the show
I don’t think that’s what they were saying- I believe they say your income is your best tool in the moment to start building your wealth, intimately it’s how we delegate the funds after our pay over long term which determines our trajectory.
In the 1:57 area of the podcast I believe the top 3 lines of career listed which lead their research of 10,176 millionaires, were modest career choices, not doctors or lawyers, etc.
Or just living within your budget. Someone who makes 50k cannot live like some who makes 100k. They can both save the same amount if they live within there mesns
In 2018 I didn't NEED a new car.. my aging Subaru was doing fine BUT I was watching the global economy, the steel wars with China, the emerging chip shortage, used parts issues, and I thought.. BUY NOW to avoid higher prices / shortages down the road. So I picked up the phone and got a new Outback... paid cash.
So glad I paid attention to the global economy.
I also had a used Camry ($15,000 sweet little car) that I no longer needed (Snowbird car), four years later I sold it for... (((drum roll))) $15,000. This is one crazy world.
Yesss. Don’t get a bullshit degree get one that’s going to make you money
27:11 this made me feel a lot better because I’m 31 with nothing in retirement. I’m $800 away from finishing baby step 3 and next year I am throwing all extra money I have at my mortgage (7.25%💀) and THEN I am going to start investing so I’ll be the same age as this caller.
Do what you can afford!
A management fee is extremely common in today's financial planning market. So don't be scared off by that. Look for someone who listens and shows/teaches/informs you what they are going to do. Charging a fee prior to meeting or in order to meet is flat out ridiculous. And yes DR does get paid for referrals and having people listed as "smart-vestor pros."
I clearly need to learn about these mutual funds. I'm going to be buying these books they are talking about. I grew up with parents that really had no financial expertise. My parents have no money saved, my dad is 62, my mom 57, and they live less than pay check to pay check and use a bank over draft every month. It's breaks my heart to see how they are struggling and how they are going to. Both have serious health issues and can't afford to rest. I'm a single mother, and I don't want that future. 37 can't be too late to get things turned around.
You've got this! Start with essentials, get creative with free or cheap educational fun for the kids. You can do this.
David Ramsey. He makes since for the most things. What about us people that so only get social security I get Medicaid and food stamps. There is not much for us we can do. I do like listening to here what he said.
IM PRAYING THAT DAVE WILL COME TO NEW ZEALAND TO SPEAK LIFE INTO THIS COUNTRY 🙏.
🤣🤣 why half your citizens don't even live in their own country
Please. Thy Ramsey come
Its crazy that Dave is a multimillionaire and still doesn’t drive his truck because he wants to keep the mileage down because he doesn’t want it to depreciate. Yet, he admits it depreciates just sitting there. One reason to be wealthy is to fully enjoy the things you have. Life is too short to worry about money all the time, especially when you're wealthy
No he does use it daily to go to the office but it is stupid to use it on road trips especially since it needs more gas and more stops and again it will mess up a joy. If you love something u take care of it. He still uses it like I said so he's doing everything smart. If he did what your asking then he wouldn't be a millionaire now would he?..lol thats poor decision making on your part.
I really am happy I started watching your videos. I love them. Realized that I was already on baby step 6. Thank you for sharing your knowledge and advice.
Dave rarely talks about Giving Generously with the millionaires
took the Ramsey advice and finally got out of debt and and now saving and have emergency fund, originally living pay check to pay check ..... so glad i listened
Get the car but also plan on keeping till its a classic. Also keep all the oem parts to swap back when that car hits classic after 25 years the value will come back.
How does a car guy not know this.
Also I assume this is a used car. Some of the depreciation has already been baked in.
If your not going to drive it much is more of the reason to get that particular vehicle. The km's will stay low which helps resale value.
I got rid of debt after divorce, besides the mortgage, been trying to pay it down but its been exhausting and hard to stay motivated.
Love the Gerry Rafferty piece.
Much respect to all of those who have gotten dept free 🎉
I was just in Clarksville doing construction with some out of state winter work. I’m from Minnesota sorry that we brought our weather down there. Jeez Louise snow down there last week was a disaster.
The millionaire hour totally gives hope! Glad y’all do it 👍 can’t stand the hope stealers!
Sell the house!!! Jesus did not live there.
😂
His coaching for free comments. Cracked me up. Been there.
Similar to: If you can’t afford to raise them yourself, don’t have them. I believe in helping the people, but I don’t believe in funding the stupid and the lazy.
Will in Georgia is going places! Holy cow. 23 years old.
Thanks for these shows Dave - they are so encouraging!
Wow! That call at the end of hour two! You're right: he probably won't do what you say, but it was great advice!
DROPPING A LIKE SPECIFICALLY FOR SETH AND CIARA !! DAVE IS A LIFE CHANGER
2:00 debt free, I want to buy a 30k sports car for fun. Should I pay in cash or invest with my cash?
10:07 I just received a huge inheritance. I'm intimidated. How do I make the most of this?
People are at different steps in the Baby Step process…. Everyone is not in debt
1:05:30 - Too much month left at the end of the money, I've never heard that before🤣
Funny when someone who doesn’t know anything about cars act like that know about cars lol. George said that Tacoma is going to be worth $5k when it hits 200k 😂. Find me one and I’ll buy as many as you find.
He did not have his laptop today to look it up. Cut him some slack! 😂
It’s obvious to most of us that he was making a point.
@@BeeDee-qs9so I’m sure the point was already made, he just had to act smart and add in numbers lol
I agree. I have a 2012 Tacoma with 150k miles that I bought in 2020 for a lot more than 5k. These things will run forever with regular oil changes. They hold their own
My 2004 double cab Tacoma keeps going up in value
Uncle David ❤ I feeling sick yesterday, sorry 😊
God bless them, great future ahead ❤️❤️❤️♥️
I’ll gladly take their 2%!
The smart vestor that was recommended to me by Dave in my are was awful. We now have a wonderful one with Edward Jones. Just because they are on Dave's list doesn't mean they are good.
💯Our experience as well. The SmartVestor was terrible and we dropped him right away. Wanted $750 up front before he would even set an appointment to see what our experience and questions were. Now we are with another investor and doing great.
I recall reading that Ramsey's Smart Vestor Pro's pay Ramsey regular fees to be recommended by Ramsey.
Ramsey gets his fee and you never know what you'll get.
If an advisor is a good, they don't have to pay to get referals.
They are recommened by their happy customers.
They recommend like 5 and you should meet with them all to find who you are comfortable with. We had 1 that wasn’t up our alley that wanted a fee for planning. Ultimately we went with one that listened and understood what we were looking for right now as well as in the future, and the only fee is from the returns based on how much they are managing for you
Edward Jones doesn't employ financial advisors....they employ sales people. Not to mention the fees that kill you via 1000 cuts. Get out of there ASAP.
Other people have had the same experience with the Ramsey Show’s Vestor Pros.
Been debt free for over ten years because of Dave
I am debt free and it feels great
Dave popped his balloon about the new car but reality is rarely cuddled😅
I'm glad George mentioned giving generously to the young man who inherited $1.1 million
My ex laughed in my face when I said I was gonna be a millionaire later in my life. She thought it was a joke… we are not together anymore.
And the point?
The point is you have to be aligned with your money goals and future outlook or it won’t work out.
Dave- That’s where Chevy got “like a rock” 🪨…goes down in value 😂 amen Dave. Junk too. (Extra sad how quick those suckers rust too! Even newer!)
Toyota or Honda all the way baby. Maybe Subaru.
No mutual fund makes 10% each year, year after year. You don’t double your money every seven years. If you double your money every ten years consider yourself lucky. There are huge dips in the market that take away the high returns in the good years and you do not end up with 10% returns after the MER.
He has explained in previous shows that mutual funds fluctuate can be 8%, can be 15%, so he uses 10% as an average. Many mutual funds perform at 10%. Mine have, and with fluctuations 10% is a decent avg to go by. It also makes for easier math when calculating quickly on-air, I am sure.
It’s continuing to buy on massive dips that bring the returns.
What matters if the vehicle passes inspection. Mileage means nothing, and price does matter because because of depreciation value. In other words... Cheaper the better, but just matters if the thing runs and passes inspection.
Horse people fall in two groups.... Very wealthy or terribly proud and flat broke.
Or people that love horses.
I have 7 cars! The value of all of them put together totals about $20K! Some run, some don't!🤣
Will from Atlanta should put it all in an ETF replicating the S&P500 and leave it for 20 years then retirement with 5,127,052 dollars (8% annual return assumed). Get tax advice on how to shelter the capital gains and dividends taxes. Wow, what a blessing!!! This is not financial advice. I am a finance expert.
I mean, I can brag about my credit card rewards because I don't pay any interest on them. I only get rewards. I pay them off each day, as a matter of fact.
Cut the cards buds
Well thats not true, you cant pay on a credit card till the last payment was processed, it take 2 to 3 days to process, try again
@@Resident1157 what are you talking about? As long as you pay your balance in full every month you don’t pay interest. If you made recent transactions they are on your next months statement. This isn’t a secret. I myself make over 3k a year on cash back and travel perks. It’s not rocket science
Same. I carry no balance on my credit cards and never use cash or debit.
I reap the rewards for gas, groceries, and essentials. It takes discipline which the average USAmerican lacks, unfortunately.
I like credit cards. With debit cards (or even atm withdrawal), I worry if I have enough money in the bank to cover the purchase. With credit cards, I only have to check my bank balance and do my money shuffling act once or twice a month. I keep just enough money out for monthly expenses.
Anyone have advice on how to build credit without utilizing credit cards?
I don't care if I'm being rewarded on someone else's expense. That is THEIR fault, not mine.
Dave Ramsey is hilarious!
How do stop all entertainment/spending time with family out-of-state without having burnout or resentment while paying off debt? I've followed the baby steps and keep getting setbacks because of car and house and I just need to get away and take a breathe once in awhile because it's too much for me to handle. I can't get past step 3 no matter what I do.
As someone who grew up dirt poor, there are a million ways to find entertainment and community without spending a bunch of money. My mom took us to every library event, every free movie they would show on the projector at the park, every free museum, hiking, reading, the list goes on and on. It's a false idea pushed by advertisers that the only way to be entertained is to rot your brain with movies, video games, and lavish vacations.
I'm not judging you, because I also developed expensive tastes once I started making my own money, trying to shake the feeling of poverty from my youth. Ultimately, the only thing that works is breaking that mental connection between money and joy. Money can buy some very fun things, but it's not the only way to have a meaningful life. If it was, human beings wouldn't be here, because we didn't have extravagant forms of entertainment throughout most of our history.
@@BlakouttheMM nothing you commented has anything to do with my comment regarding spending time with family out-of-state.
I agree, society does advertise falsehoods. I do take advantage of many free events and things offered in my area. I don't have expensive taste.
Love 🎉a Dave rant 🥰
Got the book! Can't wait to read it!
In this economy this is exactly right
Hi, I'm at Charis Bible College in the UK and have just come across you through our teaching. I'm wondering whether you can help me here in the UK? Thanks Joanne
I’m sure it’s the same principles there with the baby steps!
I was raised to use Credit Cards for emergencies ONLY and only use it for gas and small things. No big purchases
Emergency fund works just as good
Save money create your emergency fund break the cycle 👍
And what is your parents net worth?
50:09 DAVE WENT OFFFFFFFFF
I love Dave so much. He was saying shut up, and it tickled me because of all the snowflakes out there. Its a tough thing to hear, but some people need it said to them like that or they don't hear you. He is just trying to wake them up and not let them make excuses for not getting their finances straightened out.
Am I the only one who doesn't have "getting wealthy" as their life goal? As long as I'm out of debt and have everything I need and most of what I want, money holds no value to me. I live on a very small social security check and just started a part-time job because it is something I enjoy doing and the paycheck will just be a bonus. Never made a lot of money but always had a nice place to live, a halfway decent car to drive and never once had to worry about having enough to buy groceries or to pay for a medical bill. God is good.
Well I pray 🙏 nothing big comes your way and you are as prepared as you can be in case of a big disaster. There is natural disasters, there is theft, there is a lot of uncertainty. A good million would be a nice cushion for retirement. You never know how long you will live and how mobile you will be the last decades. It's not bad to enjoy yourself. Go to the beach or the park and love. Don't spend and save is just smart.
@@marisolh4349 I didn't say I don't have money set aside or I don't save. I just meant that money is not a big focus of my life. If I lost everything I would still be okay because I don't have expensive tastes. Too many people are so convinced that they need a "million" before they can retire that they are working themselves to death. Most people do not have to have a million in their retirement. There's a lot of freedom in knowing how to live simply and still have a full life. What is going to happen to all the millionaires if the dollar crashes and loses it's value?
Right on fella. These young ones are young and hungry. They will learn as they go. They will still get sick, they will watch people die, they will have pain. Money is nice but a well lived life much more important. Doing for others. Being helpful. Giving to charity. Important stuff
Excited to get my book! Wondering when the audio book will be sent to me.
I got an email on Monday or Tuesday with the audiobook.
@@dianem4188 that what I heard on the show but I didn’t get mine 😞
i thought when the guy said his truck was his biggest debt, i didn’t expect him to say a tacoma. i thought it was going to be a 2500 diesel
George!
My husband is a millionaire and drives a 2010 Honda
Mine is too. He drives a 2013 Lexus
@@katemiller7874 🙌
@@katemiller7874 🙌
Good Day, I know this video was posted over a month ago; however, I came across your channel, and I would like to ask this question; I currently have a mortgage for a house I am renting. Does it make sense to pay off the mortgage earlier or to put the payments towards a deposit for another house?
Depends on the rate of your Mortgage. Property doesn't go down, buy a 2nd
Bitcoin has doubled in value in the last year and increased 5 fold the last 5 years
Omg what a great rant. Enjoyed George’s reaction
Thanks for the video.
Where is Dave getting these numbers from 10%. Most people are invested through fidelity or vanguard target Fun dates getting anywhere between 7 to 8%
🤔
My Vanguard account has averaged 11%. I’ve had the account since 2012. It’s a matter of researching the accounts and picking the one.
@@janfoselli5823 wow! Well 11% is amazing! Thank you! I'm definitely going to call Fidelity today because mine is only averaging 7.8 for the last 10 years and I am in 2050 Target Fun date. If you're getting 11 that is huge.
It's the average over decades. -20% some years, +30% others. Mine is +9.89 currently
44:38 - Stop destroying your most powerful wealth building tool, your income.
“You Lefty Communists” ?? I am a Liberal but I am NOT a Communist, Fascist or Socialist! How dare you?? I agree with your financial principles, which is why I’m here-to learn! However, I really dislike when you insult a section of your viewers like that! Grow up and stop insulting people who disagree with your politics!
Maybe you’re not a liberal
@@LindseyHarvell-vc4ez I very much am. Out of curiosity, how do you figure I’m not? Genuine question. 😀
Baybnj- the liberals of today. I think they are called progressives are nuts. Now you don’t sound like you fall into that category. They believe in socialism and if you don’t you might be an old school liberal like me. Nothing compared to what is going on now. These folks are cucko for coco puffs
credit card is bad and good at the same time. I've been using credit cards for 10 years and never paid a single dollar of interest and always got cash back. the way I do it when I want something, I have the money. I pay it with my credit card, and after paying the credit card before the cycle. I don't buy anything because I want it I buy because I need. ex. you need a car but you want a BMW.