Meet The $700,000,000 Man Who Lost Everything | Dave Ramsey
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- Опубликовано: 27 май 2024
- Dave Ramsey discusses his investments, income, growing a business, and how he spends his real estate empire - Enjoy! Add me on Instagram: GPStephan | Follow Dave Ramsey Here: / theramseyshow
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Here's what I've come to realize about Dave Ramsey as I've become more familiar with his work. Dave Ramsey gets a lot of criticism from the more "sophisticated" side of the business/entrepreneur/investing community, who say that Dave's methods are too cookie cutter, too basic, not fast enough, etc. All they see is what's on the surface. But the important thing to remember is that Dave Ramsey is trying to take very advanced topics (building wealth, investing, etc) and distill them down to a basic formula that the average person can understand. The "financially savvy" people who criticize Dave seem to forget that the majority of the population is not financially savvy. But when you peel back the curtain, you begin to realize that Dave is a world class businessman, entrepreneur, and investor. He just doesn't always show that side of him, because most people aren't built for that lifestyle, nor do they want that level of responsibility. For the average person, avoiding debt and shoving their money into untouchable accounts is the best chance they have of building wealth. Much of Dave's audience can't even handle their credit card debt, and yet these "savvy" people on RUclips seem to think that such a person should take on MORE debt and manage a leveraged real estate portfolio. Yeah, right… People say that Dave is out of touch, but really his critics are out of touch. The guy is a freaking genius and knows exactly what he's doing. Overall, Dave is performing a noble service to society by helping people gain control of their money and have some sense of sovereignty over their lives.
This is really deep insight that’s actually so true
Thanks, Michael, for your insight and perspective. I enjoy both Graham and Dave, glad to see the two having the conversation. It was as if the two were having coffee around a kitchen table and Dave was simply having an honest conversation about his process and thoughts about wealth and wealth building. I thought the interview was insightful and helpful.
Great points, and he’s become wealthy by being able to teach that to the masses
Thats spot on. I know people who are good at investing, day trading, calls, puts, and shorts and they can't stand Dave's methods. I live 100% on cash back credit cards and invest mostly in stocks which dave doesn't recommend, but I pay my bill off and have self control spending. Dave's whole method is a super simplified one that anybody can use to get out of debt and become wealthy. When you're creating a program that works for everybody, of course there's gonna be elements that don't work for every single person. Hes a good guy who truly wants everyone to have a good, wealthy, fruitful life. How some people can't see that is beyond me.
Welcome. Finally, someone puts it sensibly.
“No debt and a pile of cash is a real peaceful way to live life”. Dave Ramsey 2022
Sound easier than done
@@HELLWARS101 it starts with no debt and a little bit of cash. Live on less than you make, so your money will grow. When you invest consistently, it might turn into a pile. Don't follow hypes and keep the course.
He is right. I am headed towards zero debt soon and lots of cash and i have financial peace. No more money anxiety.
@@maartenlaarhoven160 dave ramsey is a boomer
@@HELLWARS101 never said huge pile of cash
You collaborating him feels like an accomplishment and milestone for everyone that watches you! Congrats!
100%!!
I thought It was a bigger step for Dave to collaborate with a financially savy dude that succeeded doing things differently. Dave has been stuck in his ways for way to longggg
Yes!!!!
@@GrahamStephan 1000%
@@GrahamStephan you should’ve asked him the hard questions. Like how he tells people to move out their parents houses and calls them leeches and than his kids keep suckling on his teets for his scam of a company. What an idiot bought commercial office space when everyone is going remote no wonder he cries about people working remote. He’s an absolute fraud, he made his money off his scam classes not business.
My father is a CPA and always recommends the exact plan Dave Ramsey did of buying the real estate personally then lease it to your business. You are your best tenant.
Also, you eliminate the ''tenant'' issue... The one thing you need to make sure in this scenario = Make Money ! (which is a prerequisite of a business, so it's win-win, when you do make it). I wonder how the pandemic work from home culture has impacted him but from the pictures.. he seems to have prepared for it by being in the ''middle of a field'' so you have community and likely the only employer around, and your business being your tenant you still get the tax-efficiency
@@vonb2792 He doesn't work from home. People who want(ed) to work from home were 'asked to find a new job where they could work from home'. Dave believes in the synergy and productivity that happens from workers at the office from 9-5. His parking lot is empty at 6PM, because he wants his workers to have family time when they are home.
I'll always be thankful to Dave for inspiring me to work my butt off through college to graduate without debt. Starting out after college without loans is something I'll always be thankful for, and I wouldn't have even thought it was an option if it weren't for Dave.
If you're financially savvy, certain debts can be used as a really powerful tool. But the vast majority of us aren't, and so Dave's principles of getting rid of debt are something most people would really benefit from.
Glad that proved to be a good plan for you, though it may vary for different programs. I know for myself that if I had diverted time in college to working jobs just so I could graduate without debt, it would've really negatively impacted my productivity and I wouldn't have gotten the job I got right after college.
For some, time in college is too precious to give to other things, and it's kind of hard for most people to get decent-paying jobs without finishing their degree.
Yep, debt can be a powerful tool to build assets but the vast majority of people are just clueless when it comes to money management so it's a bad idea.
I meet Dave. I don't agree with everything but he's helped a lot of folks. Some feel his plan is to restrictive and that's cool. But if what you've been doing isn't working--it's worth considering. Thanks Graham!
I have to agree with this on so many levels. I see so many people who need him, but I don't agree with most of his reasoning, that doesn't mean it can't work for some people. I find it interesting that when he started he had almost the exact opposite view of debt. For those still reading, debt... just like a gun is a tool you use to get ahead. Can it be dangerous... sure but you have to know how to use it if you don't have the money he does.
@@simoncameron4355 This is very, very true. People also don't always like the delivery of his messaging on some topics, but placing that all aside, his slow and steady approach to finance is better than the paths a large number of people are currently on. I've seen people I know criticize Dave on one-hand while failing to contribute to retirement, buying new cars at high interest rates they could have avoided by saving some cash, financing household items like couches, beds, etc. while claiming "We couldn't have done it any other way..." In my opinion, if more people *actually* lived off the guidelines Dave provided, it would result in net positives for society (less predatory lending situations, more margin for people to give to those around them, etc.). For better or worse, Dave has a pretty iconic radio personality and even if you do not agree with his advice, his show is very entertaining from a radio perspective.
Beans and rice is intense, but potatoes, carrots, raw chicken, pork, eggs, and milk is all affordable. I think a lot of people burn their money not cooking their own food, what I just listed could feed a family for a week for 30 bucks
His advice isn't the best way to grow your many but it is really good for people getting out of debt and staying out of debt which is much better than a lot of people.
There is nothing restrictive about NOT BUYING WHAT YOU CANNOT AFFORD!!!
I’m so happy my hubby is finally watching your work! Not only are you a good sensible person to learn about finances and business, you have this ability of sharing it from angles I never would’ve imagined, showcasing things and people we really need to meet. Thank you 🙏🏼 Graham!
Graham, this interview was amazing! I’ve watched and listened to a lot of Dave Ramsey content, but have never heard him in an interview quite like this, answering theses kinds of questions before. Keep up the good work!
Dave Ramsey gave me the blueprint to financial peace. I learned a lot from you, Graham. I can't thank you both enough.
It's nice that Ramsey is honest about his mistakes and failures. He's right that the key to success is not avoiding any failures, it's not letting those failures discourage you from trying again. He was smart to snatch up real estate during the Great Recession. I remember that time period, when foreclosed houses in Las Vegas and Phoenix were selling for $50,000 US Dollars. Now, those same houses are worth 10 times that.
Buy when there's blood on the streets.
Pm p
Success is a lot easier when you don't have epic failures. Dave could've been wiped out if he didn't catch a lucky break. I know many folks that pile everything into a business and fail, that was their only shot
@@collenflarity7856 I'm not in the business of giving out people's addresses on RUclips. 😂
@@collenflarity7856 The Rich Dad, Poor Dad guy owns 7,000 properties? That defies belief.
Dave Ramsey was the first financial teacher i started listening to, came across his radio segment. he inspired me to learn more and start being more disciplined with my finances. cool to see you interview him
Totally second this. I adapted his principles to get out of debt for good!
Been watching your vids for years. Really happy for you collabing with Dave Ramsey. Congrats!
Great interview! I've been following Dave since 2003 and that was the most personable one-on-one discussion I've ever seen him give.
Love Dave Ramsey! Glad you interviewed him!
We are blessed with another one!! Graham we are so proud to watch this!
Excellent collaboration! Thank you!
Like others have mentioned, this definitely feels like a huge milestone and I'm so happy that you've gotten to this level. To have worked to a point you got Dave Ramsey's respect in this way, to interview with you is such an accomplishment! Congratulations!
Also..... It feels like this interview went much longer than the ~15mins here in this video, LoL. Lot of content that had to be clipped in order to make this flow the way it did.
Personally, I'm kinda curious what the potential "full version" may have looked like.
Nice job, Graham!
It's recorded in Dave Ramsey's studio and will be or was part of his show. Follow his channel.
I’m so happy seeing you both sitting at the same table. I’ve always wanted to see the collaboration. 🎉Congratulations 🍾
Thanks Stephan. Glad you got to sit and talk with Dave. Man he is a really humble and smart guy. I like both of your styles of getting wealthy. Y’all rock!!
Dave always gave me the persona of being very arrogant and stuck in his ways.
Your latest content on him really shows how humble, positive and supportive he is. Certainly changed my opinion of him.
His main issue is telling people to pay off their mortgage early and invest in mutual funds.
@@silverecho1201 to be fair, paying off your mortgage does decrease your risk exposure.
Unsure what the positive of mutual funds is to be honest.
Man you got Dave Ramsey on here. I'm very proud of you man! Watching you this far in your journey is very inspiring! I learn alot from you! Keep going and don't give up!
Deeper dive in Dave’s life/finance. Done unlike anyone has. Great Video
Fun, thanks for doing the interview!
I love that you're actually interviewing him. Awesome.
Amazing collaboration video. I’m a struggling entrepreneur and when I hear that 90% of his ideas suck that gives me a lot of encouragement to keep on moving forward. Thanks for this video and thanks for interviewing him. Enjoy watching both of you and I rarely comment.
Wow!! Great video!!! Dave Ramsey is the goat 🐐 !!! I never seen Dave so relaxed and humble in this interview. He seems to have a lot of respect for you Graham. Keep up the amazing work and thank you for all you do as well.
loved this, super refreshing to hear dave speak to you
Behind the scenes! Good personal interview with Dave Ramsey!! BTW, like the Vet!!!
That was a really good collab. Worked well for both of you and for us.
This is the crossover we've all been waiting for! Both of you are truly inspirational to the financial literacy community!
I’m loving the Dave Ramsey content, It’s good to know you are a fan of him!
Wow so cool, nice to see you chatting with Dave Ramsey!
Was never a big Dave Ramsey fan, I often thought of him as the Judge Judy of finance. This interview definitely has me looking more positivitly at him.
Story of my life but without the happy ending at least for now and of course, a lesser amount. I now have this phobia for investing.
I feel for you. Newbies must realize that the market is a zero sum game, comes with lots of risks and you could potentially lose all. Secondly, what works for A must not necessarily work for B and you shouldn't be a bandwagon investor. Always make more thorough inquiries before putting your money somewhere or better still, get the services of a pro (that way, you give little room for error and get tailored investments). Made my first million earlier this year this way after a lot of trial and errors. Good luck!
lmao. you still need to get pass the phobia. things are getting tougher
@@marlenaaj Very sound and pragmatic. I have been into this for long and though I won't say I have lost a fortune, I have squandered quite a lot. If it's not a problem, do you mind recommending the pro. you worked with? I could definitely use the help of one right now... I look forward to your reply...
@@thesportsguruu Funny enough, I can honestly relate. It's not as easy as it may sound and requires some sacrifices but it is definitely rewarding. I don't know if I am permitted to go into details here, but her name is "Leah Marie Sandock". Was in the news a lot in 2018. You may look her up for more.
@@marlenaaj wow I know this little lady. Once attended a fundraiser she was also in attendance in Vancouver,, Great speaker with a funny accent,, She's American though, I doubt she works with foreigners,,,
GREAT QUESTIONS!! PLEASE DO ANOTHER INTERVIEW W/ DAVE!!
This was great. Enjoyed every second of the collaboration.
Amazing interview!
This is awesome, my fav two financial personalities of all time. Best video on the channel hands down
Glad you enjoyed it!
Loving seeing you guys work together!
Love this collab!
Graham has to be one of the most kindest, genuine content creators. Love this collab!
I love these one-on-one talks way more here on this channel without all the circus and drama on the Iced Coffee Hour.
Thanks for this! Dave Ramsey interviews are always a treat.
Really enjoyed this conversation with Dave Ramsey. Thanks.
The percentage formula is a nice idea, and the cash reserves for emergencies.
Such a great interview. This caught my attention due to it just being slightly different content than I have usually seen and I really liked it! Felt like I gleaned a lot of amazing information from this. You interviewed him really well and asked some awesome questions and he gave some really insightful answers.
Keep up the great work!
Love this Graham! Glad Dave sat down with you to make these videos!
Two of my favorites people sit together to talk! Love this ❤️❤️❤️
I feel like your whole channel has been building to this moment. Awesome collaboration!
Very respectable of you to fly to TN on his turf to make sure this interview could happen. Well done!
Loved it! Thanks for doing this collab
Fantastic interview Graham!! 🎉
honestly he's way more impressive to build an $700m net worth without debt than anyone that a billionaire that has debt
He was fortunate to buy the dip in 2008, otherwise, he wouldn't be worth 700M yet.
@@xianxiong3440 i would say prepared enough
Well, he's selling those courses and books and programs about being debt free so that's why he's got the money to pay cash plus he bought then ages ago and now it goes up in value. Billionaire could pay cash too but they want something to write off so they can save more on tax, believe it or not Dave pay more taxes than a billionaire so at the end of the day the billionaire will always keep more money.
@@xianxiong3440 yeah and so did many people but most people rely on debt to get those real-estate and bank froze loans. so still props to him
@@thesurvivor4028 also he doesnt pay his employees well and is very selfish at all times
Love that you guys colabed finally both or you have set me ahead decades
you got it!! :)
Graham this was one of your best. Terrific interview between the two of you.
I think the very first video I saw of yours was about Dave Ramsey - incredible that you were able to do a collab with him all these years later.
I love this Collab hopefully you guys can do this again this amazing !!
His situation of "losing everything" was much different than today -- his loans were callable. That being said -- I get why he for the most part just never makes exceptions in his advice on air.
All loans and credit cards are callable. The banks acted on his because of how leveraged he was and how big of pile debt his was.
Crazy Collab. Loved it
REALLY enjoyed this conversation!
Very informative interview Graham! Dave is a down to Earth person. The knowledge that he has is outstanding. I listen to Dave on the radio on my daily commute. I hope everyone was taking notes from this video!🙃
i became a fan of Dave Ramsey after this video which shed a new light on his personality I have never knew or seen before. great inspiring informative video!
I got alot out of the part where he talked bout living your lifestyle depending on your income level based on ratios. that really stuck with me and now i am motivated to start my own business become an entrepreneur in order to increase my ratio for an upgraded lifestyle i want to live in.
This is so dope. Proud of you, Graham. ❤️
You guys are both great. Love the positivity.
I grew up with my mom listening to Dave in our car rides. It helped me now, mid 20’s, with the right mind set around budgeting and spending
I had no clue he is almost a billionaire with a B. Mind blown 😳
Way to go Dave! He has a great sense of humor. He's helped so many people. We live in a culture programmed to keep people in debt. Long live Dave Ramsey. Thanks for this video graham
$700m in Real Estate and a $300m/annual financial help company…with other assets and investments he may very well already have exceeding the $1bn mark with his overall net worth.
As if it matters. After you get your first million it's all irrelevant day to day after that.
@@firefly9838 you can give more to impact others
U can tell graham made him feel real comfortable, podcast had a good vibe to it. Keep em comin Graham
Super cool colab/interview
You’re the man Graham❤️
thanks!
My highschool had an economics class that used Dave as a source a lot. Watched a bunch of his videos.
Congratulations Graham! I know you enjoyed that interview!
This is one of your best one's Graham. Thank you!
This was great! Also loved you getting Dave to tell us to smash the like button 😂😂😂
Really interested in this style of video graham! Liked button smashed👍
thanks!
awesome video Gram!
I love this video. I started watching you Graham because you reminded me of Dave with a different type of content. That fact that I got to watch you sit and visit with him was such an awesome video!
My two financial mentors in the same video. Keep up the great work!
Thanks, you too!
Yes I was so excited to see this video!
Graham, you've been talking about doing a collaboration with Dave for awhile and how he inspired you a great deal in your early days. I enjoy watching different perspectives and content from each of you and I'm glad you got the opportunity to shoot collaborate together.
I could listen to Dave talk all day!
What an amazing interview. Thank you, Graham.
Amazing collaboration video. I’m a struggling entrepreneur and when I hear that 90% of his ideas suck that gives me a lot of encouragement to keep on moving forward.
It's easy to be an investor during the good times.It's hard to be an investor during the hard times. If you want to be a successful investor, YOU MUST be able to master your emotions and continue to invest in both types of markets. Especially when assets are on sale.
The stock market behaves the way it does, because there will always be people who: - sell at highs bringing it down - panic sell due to it dropping, bringing it lower - buy at the lows, bringing it back up - buy back in while it's rising.
For you to succeed in the market a proper strategy is required and you need to always monitor the lines, great investors/traders do not panic on the dips because that's when they make their profits.
Investing with a professional is a great way to build a well-structured investment portfolio. That's why I've been working with "Cintra V. Bedassie" on my portfolio. Since most traders tend to go into the market and get out at a quick 10% to 20% profit, I've learned to be patient with the market. However, because it trades at a P/E ratio of 40-50, they miss out on enormous returns.>
@@bonifaciomazzanti1251, I will be checking this out, thanks a bunch for sharing.
Seeing you with Dave, and the smile you can’t stop having during the whole video really tells us how excited and joyful you were and still are. Congratulations on your achievements so far, and hopefully you figure out your next step towards billionaire. =)
Great job on this. Loved the discussion.
Graham you are a great interviewer . I think that is a great gift for you to continue.
Graham, congrats on getting a collab with Dave Ramsey. Fans of both of you guys 🤙🏽
Always watch, never comment, but you had me at Dave Ramsey! Thanks for sharing this great video.
I appreciate that!
Great interview, I wish it had been longer
Congrats Graham! Nice interview.
Haven’t been this sad for a video to end in a long time… 😫
I smiled so big when you got him to say “smash the like button”
I have been waiting on this forever!!
It's about time!
Hey Graham, I hit the "Super Like" button and now I can't stop yelling at people to sell their car!
I enjoy seeing you & Ramsey collaborating! You’re both uber successful by adhering to the same disciplines. Kudos to you Graham!🌟
Terrific interview!
This was a great interview. Fantastic video!
This was a great interview to watch. Dave and the Ramsey personalities have helped so many people. Another person may have committed suicide if he woke up in Dave's shoes thirty years ago. Dave's perseverance, God's protection , and a good wife has gotten him to this successful level. May God continue to bless the Ramsey success.
One of my favorite videos you’ve made and I’ve been a subscriber since 2018!
thank you so much!!
Loved watching this interview
Cool to see you both doing some collaboration