I own 12 rentals not including my home. Drive a 1998 nissan Quest ( bought used for 4,500) net worth about 5.5 mm. I have been called unassuming before. Net wealth Trumps savings -always !
I appreciate your commitment to guiding others toward financial success. We all strive for security and a better quality of life, and this can be achieved through smart investments, mindful spending, and effective budgeting. I'm thankful I discovered the value of hard work and financial independence early on in my journey.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what’s about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Rebecca Nassar Dunne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to over $750k.
REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.
I started to listen to Dave in 2007 at age 52. I wasn't a basket case, but I had some bad money habits and was in debt. He changed the way I looked at money. I'm 65 now and I have been retired for 10 years. I'm not a millionaire, but I'm debt free and all my needs are met. Thanks Dave.
I wonder if you’d have been a millionaire if didn’t retire at 55? I got debt free at 45, and in hindsight would have contributed more to Roth IRA vs. aggressively paying low interest debt, including a 2% - $200 car note I was years ahead on. I didn’t start putting money in until 48, and at 50: I’m between $150k-$200k in Roth/401k/HSA/Rollover IRA, with a milestone goal of hitting $250k. I did career pivot and invested money back into myself & skills training, making low $100k, and the only debt I carry has been 12-month interest free balance transfer debt which I only used to max out contributions of $30k & $7500 with catch-up. I’ll do it again this year as well, because I can’t go back in time for annual contributions, but I do pay that interest free BT off. June 2021 is when I successfully was hired for new position in IT at $84k as contract & FT in February 2023. Not even 3 full years - I get annual bonus & even a 4% raise, and I’ll pull off another $40k+ into portfolios again this year, with goal of 2 more years - hit 5 years at Fortune 100 company, I’ll definitely be able to leverage myself in job market better & go up $10-$15k. In meantime, don’t be stupid, continue to work hard, and I’ll be on course to surpass $1M before 60. My only regret was not investing sooner.
"Very few people who look like they have money actually do." That's some truth right there. I was a bank teller for a few years and seen first hand how true that statement was. It was always the Escalade drivers and the people with a new iphone every time one come out, that were kiting checks from one account to another. Taking out whatever loans they could and putting up every asset they had, these people would always be overdrawn and begging not to be closed out. The folks that really did have money were flannel shirts and oldsmobiles, ball caps and calloused hands. I was glad for my time at the bank, it was very eye opening..
I just started a bank job a month ago. I definitely know what you’re saying. I always have a good feeling when I talk to an elderly man or woman with hundreds of thousands of dollars in the bank. All I can think of is “good for you!” Way to manage your money and enjoy your retirement!
I was also a bank teller and I can verify what you are saying. Usually people who had money were also way more relaxed and did not have need to be rude or treat you badly. Usually the ones who thought they got much money were the rude ones. But there is a reason why those Escalade drivers with fance new iphones did not got any money. Their money went to those gadgets.
Talk about freaky. One of the coolest feelings in the world is when you know you can pay cash for something you want, but you don't buy it cause your content without it. That's a feeling money cannot buy even though you have the cash to buy it. Freaky fun.😺
@@kaohsiung99, doesn't matter if you need it. You have the cash to pay for it cause you just want to buy it but you don't cause you can buy it later if you want to. In other words you have the power to buy what you want but your still content without it. Or you know you could buy it anytime you want. It's really freaky. That's the true definition of wealth. It's like the more money you get the less you want to spend. That's what happens to me. The more cash I get into savings the less I want to spend. It's a weird phenomenon.
People say 'Master of Digital Business' was banned on multiple platforms for revealing too much about easy online income. The author has gone missing, but the book is still on Borlest.
@@BlackGoddess143 its very comforting and relieving. It brings a sense of security and a faith that things will work out. It gets rid of the feeling of being trapped. Seeing yourself putting say 300 a month in and in one month you see you've saved 12 000, then a few months later you see 18,000 due to investments paying off. Its like, hey, I might actually get to buy a house or car in cash.
@@crownary3537 a Charles schwab retirement plan/401k. Ive made decent money off of amd and enphase on the stock market. And nio/tesla, and Cleveland cliffs but those are riskier. Solar power companies are also nice.
It gets easier as you build. The toughest part is getting to the 1st million. The 2nd million is half as easy. Getting to $3mil even easier and getting to $4mil even easier. Each $1mil after the initial mil milestone only gets easier. Takeaway: hit the 1st mil as quickly as you can!
Aidan Hodge Science quick question do you stock as full time or part time? Because I am young too and want to do stock but I don’t want to do it as I full time job.
I didn't know I was a millionaire until I listened to Dave Ramsey. I still buy my clothes on Ebay (used) or Goodwill and love driving my 2000 Toyota 4Runner! A million dollars is nothing to brag about now a days. "Just buy what I need, not what I want..."
This exactly. This is why I have invested from day one of getting out of college and going to work for 30 years straight. I could retire now at 53 if I wanted. It's all about freedom.
Scully Fox yup. I am a millionaire a few times over and not a single person I know knows it. I drive a 15 year old Honda with 260k miles on it. I like being anonymous.
All you going to have is people trying to scam you all the time if they know you have money. Dave must question himself all the time. Does this person likes me because I have money? Is this person trying to scam me? I don't even Tell my Girlfriend how much money I have I play poor all the time.
My brother, who is a CPA, tells me this all the time. That many of the people you think are wealthy, are broke, and many of the people you think are poor, are loaded.
When I was younger, I wondered what it must feel like to be a millionaire. I invested, saved, lived below my wages. When I turned 54, I became a millionaire. I did not feel any different the day this happened, the day before or 30 years prior. Life is a marathon, not a sprint. One day at a time.
You and I have that in common. The way I see it, the $ just lets you not have to be perfect. By that I mean, a parking ticket is no longer going to break the bank. Or breaking your arm, etc. I still get anxious when something unexpected happens (which is nearly every month, lol), but I don't constantly have to think, "Ok, where can we cut expenses this month to pay for that fill-in-the-blank problem."
@@jays9196 It was always a goal of mine. Took me awhile to achieve. Slow and steady wins the race. No one would ever guess, as I live a very frugal, but debt free life.
it's how my old man was. had no idea how much he was worth until he passed away and then we were like whoa. the most important thing i inherited from him is to live frugally.
But at the same time we dont take it with us so its definitely a balance thing. Whats the point living frugally and having millions in the bank but never spending on any luxuries and nice holidays. Theres loads of very rich people that have developed the habit of never spending so they are very stingy. Balance is the all important way to go. Otherwise your children and grandchildren will spend it anyway.
Are you using your phone or Google to check your bank account? You know Google 👀 everything you do. If Im on the internet looking for a product to buy & if i do not buy it when I go to RUclips, the first ad is products similar to what I was looking for & I feel like the ad stalks you to buy.
I have met two millionaires at a personal level. Two millionaires where I have sat down for dinner and met their families. The first one was someone I met at my church. He was an old fashioned gentleman probably in his 60’s. He owned a coal mining company of some sort and had a side hustle of making man made lakes. He drove an old beat up Chevy pick up. The other is my current boss. He owns the company that employs me. He drives a beat up Toyota sedan. Wasn’t even the nicest car the year it was manufactured. He’s one of the most charitable person I’ve ever met.
What's driving an old car got to do with it? If you are a multi millionaire than what's the difference between a beaten up car or a $20K nicely used Lexus? Pennies on a millionaire's dollar. Millionaires who drive an old car don't drive it to save money. They drive it because they don't care about cars. And that's fair...
@@mathisnotforthefaintofheart It's not just "cars" that they don't care about. They don't care about fashion, entertainment, expensive food, exotic vacations, etc. *THAT IS THE REASON THEY ARE RICH*. They keep their money!
I like both - new and old cars. I have both, new and old cars. They're not tied to my net worth, for any reason. Ppl need to get off the whole; new car old car deal. Neither one sez anything about the person. Especially, the person that owns BOTH!
@@samryan7954 as someone said earlier it’s about not caring about having those expensive status symbols. I like old cars and new cars too. I much more like old old cars but that’s me
Wealthy don’t post their vacation on Facebook and social media because they didn’t take you on vacation they were just doing their vacation. I love that!
@@LaSombraa and why do you insult the poor? The poor have more chance to be in the Kingdom of GOD. But if you're arrogant then u only enjoy this life for what... Not even a 100 years
I made a lot of money in my business early and I lived like it for a number of years in my twenties. Nothing but misery, both from the stress of having so much to maintain and all the leeches that came out of the woodwork trying to take it, borrow it, guilt it etc. Now we live a modest life making 10 times as much and I've actually heard from friends that others have assumed I must have went under to downsize so much. I love it, it means the only people that contact me actually want to talk to me.
What Dave said here is so true. Back when I was in my 20s making $33k/year, I was driving a $40K car. Today I am in my 50s making $200K and am driving a $28K car. In my 20s, I was trying to impress people, even if it made me broke. Today I enjoy finding the cheapest way I can to live and watching my assets grow.
I come from the third world. In the third world if you show you have money you get robbed. I live the same way in the US as I used to in the third world.
I always come here when I start to fall into the mind trap of wanting to spend more just so I can have nicer things. Dave Ramsey's rant is always a nice slap in the face to bring you back to reality.
YES! YES! YES! I've been saying this for decades. I used to be a loan officer & underwriter for quite a few years and after digging through a thousand peoples income/ debts & other financials, most people are one paycheck away from ruin. Especially the guy that pulls up in a Mercedes.
Of all my wife and my siblings, the brokest one drives a three year old Mercedes. The richest one, many millions, and his own construction company, drives a five or six year old Ford F-250 pick up truck.
@ Phil 556 sorry, but that's a silly statement. You used to be loan officer and you tell us that MOST PEOPLE are one paycheck away from ruin.? No. Maybe that's true of the types of people who were applying to you for loans, but they are not "most people". You are like a hospital nurse claiming that most people are sick, because that's all they see every day.
I remember an episode where D.R. congratulated a caller for being an everyday millionaire. The caller was polite and asked if it was ok to buy a tablesaw. That’s the kind of humility I appreciate.
I always used to look around at what our friends and neighbors had and I would ask my husband where in the world do they get all this money from. He always replied “there is wealth and then there is the appearance of wealth”.
Reminds me of “The Millionaire Next Door” by Thomas Stanley. Lots of millionaires are very unassuming, frugal people, who live for themselves rather than for flexing on social media!
That book really helped change my life. At the time I worked for a guy who was wealthy, had a nice but not pretentious home and drove a chevy. He was a great example.
I interviewed once at a brokerage where a relative worked. She introduced me to the junior brokers who were...broke...but wore the fancy suit, carrying a latte and wearing a shiny watch. Then while walking to her office, we walked past one of her high network brokers who I later found out was getting seven figures annual commissions and above. The guys wore polos, had coffee from the nearby food court and wore a casio watch. He did have a suit ready in case he needed to meet clients, but he told me it was bought off the rack. Years later my relative asked me to drive her to this senior broker's house for a social gathering. He was staying at the corner unit of a long line of attached units. His unit was bigger than the rest but it was nothing fancy. I later found out, he owned all the units, stayed in one and rented the rest out.
I'm 60 and have a net worth of just under 5 million dollars. I still don't view that as a lot, but friends and coworkers would be shocked to know that. I still go to the bottle return at the grocery every Saturday.
@@sgist7824 im afraid that the thing that contributed the most was staying single and not having children. That allowed me to max out my 401k every single year. I also invested in the stock market outside of my 401k for decades. Ive always lived a minimalist life Buy a modest car and drive it for at least 10 years.
When we were kids and dreamed of being a millionaire, we didn't know what that would look like 50 years down the line. 1M in my neighbourhood is a good start. It is not considered wealth.
My husband and I read a life changing book early in our marriage, The Millionaire Next Door. It has influenced greatly how we live and save. Wonderful to hear you with the same message many years later. No one would guess that we are well off, except maybe those charities we support.
I will be part of the 1%. I am an immigrant from Mexico. I will do everything I can to help my family and the people of this great nation. Thank you for your guidance Mr. Ramsey.
here's a little secret, we never tell you we're the owner either, just the manager. That way when there's a problem, I have to get 'approval' before I can reduce anything or make any decisions.
I had a high school teacher who looked like a mad scientist and he wore your regular walmart jeans and flannel shirt. It later comes out that he's a millionaire from the construction industry 😂😂😂 You would've never known that someone as quirky as him would be worth that much. He was a great teacher as well.
From Leo: I had an old man in work clothes looking at a car on our lot. He picked a nice car and wanted to write a check. I called the bank to verify the check and the branch manager said if that guy wanted to buy our dealership, his check would be good. I learned then that not all millionaires are the Hollywood Glitz types.
Well said. For those who are complaining about billionaires not living like that, they probably live more like someone trying to be a millionaire, than a millionaire trying to be a billionaire, if thqtmakes sense. Take a look at Bill Gates, Warren Buffett, even Jeff Bezos and Elon Musk - and then compare their lifestyle to that of celebrities/actors, etc (Hollywood types) who make a fraction of what they make. I bet the Hollywood celebrities live more extravagantly, even though they are multimillionaires and not multibillionaires. For the rest of us normal people, I think the pattern holds true. The thing is that even when rich people DO live extravagantly, buy expensive cars, etc, it's a smaller percentage of their wealth (Dave literally just mentioned this as I was typing it)
I’m 21, invest half my yearly into Roth and am paying for school in cash. I’m debt free and building my saving for my first house (hopefully a duplex, to rent half).
When people know your financial status they dont hesitate to find ways to access your money without the slightest care for how you manage your money! The less people know the better!
Truth. My ex was extremely frugal and loaded but I had no idea how much he had because he was very secretive about it. showing off only attracts the wrong type of people.
One of my exes was like that. Unfortunatly for her, after we split up, I made my deal of a lifetime and now am what she always wanted us to look like - financially secured for life.
Rob Allison My friend's ex was horrible at money. Her whole family was. Her aunts and uncles and dad all filed for bankruptcy to not pay bills. He had to leave that family. Too many baby showers, vacations, restaurants...my head would spin as he told me.
@@sdrjr3562 Hope your friend is doing alright now. I hate the whole 'spend money before you have them'-mentality that plagues so many. In the long run it affects us all when these stressed out debters takes out their frustration on the surroundings.
' They seldom post their vacations on Instagram for you to see because they didn't take you on vacation'. I do love this. I wish more ppl would follow this advice on social media.
I have a co-worker who always brags about branded stuff he owns. He doesn't believe in savings or investment. A month after he bought a brand new suv, Covid-19 strikes. Wife lost her job. He became a very different person. Can't think straight anymore. Always worried about losing his suv.
Spock from Star Trek episode, "Amok Time": After a time, you may find that 'having' is not so pleasing a thing as 'wanting'. It is illogical, but it is often true
My spouse and I drive a 2011 and 2014 automobile. Every time I want to buy new vehicles I have to watch Dave. There is no better car than the one paid off.
"The valet is seldom impressed... until he gets the tip". Should be printed on tshirts. By the way, I want to thank Mr. Ramsey because a little over a year ago my wife and I promissed to pay off our debt of almost 30k. We paid it off this month, following his advice on his podcast.
Manager at an auto dealer in Phoenix once told me about Alice Cooper riding his bicycle to the dealership in his long hair and jeans. Couldn't get the time of day from anyone there and went across the street to buy the nicest car on the lot.
This is so true! We are one of the "secret millionaires ". I drive a 16 year old Prius, usually buy my clothes from discount stores or even thrift stores, and we have a budget and actually follow it. The main thing is to ALWAYS live beneath your means and invest wisely.
I love my used Camry. Some of my friends have corvettes or jaguars, but when we go out together we usually take my car because it can actually seat more than 2 comfortably (or because theirs are in the shop getting repaired).
elmateo77 we take regular cruises to the Bahamas on our boat, but it’s used and our cars are all used and we already have our retirement income stream coming in (since age 52). But, we have friends who all drive brand new Cars, and who take one week vacations, and who spend like crazy on shiny baubles, who can’t understand how we go away for a year. Many, like people here, assume we have family money we don’t talk about. We don’t.
One of my financial advisers told me I have been blessed with the gift of thrift. He knows my wife and I both drive used Hondas. He knows we don't spend $180 on a pair of jeans with holes in the legs. He knows how we paid for our kids' college. He knows how we paid for our house. He also knows our net worth and how we accumulated it. I told him we buy quality stuff when the quality matters.
Absolutely true! My ex-father in-law was a very wealthy doctor, however, the whole family lived way below their means. He would even buy the demo cars at dealerships(with cash, of course). They lived in a nice suburban home, nothing flashy.
Will Rogers never said that. I started it on Zerohedge a few years ago. Spending money you don't have to buy things you don't need to impress people you don't like. It's the American Way.
@@mrdanforth3744 you should take a queue from one of his other quotes, “Never miss a good chance to shut up.” Will Rogers said that more than 75 years before Zerohedge even existed. I think you are mixing him up with Roy Rogers...
@@insideoutsideupsidedown2218 “Better to say nothing and be thought a fool, than to open your mouth and remove any doubt,” Mr. Danforth. I’m quoting someone, I know not who, but everyone knows did not come up with that quote. You weren’t even born yet.
We love Dave, he speaks the truth. When you visit Ramsey solutions and Dave is broadcasting . He will come out on every break to meet the visitors . Dave saved us and got us on the correct path follow his advice and it is possible to get out of debt.
Flashing your money is one sure way to lose it quick. You'll get every gold digger, con artist, and down-on-their-luck distant family member knocking on your door.
When you finally reach the point when you can afford that fancy car or the trophy house you get them and realize that it doesn’t make you any happier. It’s just stuff.
100% More people need to know this. I grew up lower income 1 bedroom 1 bath duplex with mom, dad, sister and myself. Slept in the living room until I was old enough to move out. A couple of years ago I started earnings life changing money and started buying stuff: Nice guns, atvs, new truck, 2nd car, etc. None of it made me happier. I even went into depression because I couldn't understand why I wasmy happier.
Always remember, don’t get so caught up in becoming a millionaire that you forget to enjoy life. Manage your finances well and treat yourself from time to time.
I have a small house, a 13 year old car and retired early. I'm not a millionaire but I'm blessed and grateful. I don't buy designer clothes, take one really nice vacation a year and try to save as much as I can. I wasn't a saver when I was young but got real in my 40's and never looked back. You can do this. Just prioritize and stop living above your means.
Understated luxury......Toyota can have same features a Mercedes does.....and much more dependable. It’s very simple......do the opposite of what the majority does. Because the majority of people just look around and do what everyone else does.....and don’t even realize that their thoughts are not their own. Think for yourself
Exactly. I owned a gorgeous MB but shuddered at the maintenance cost - I ditched that car asap and bought an unassuming Toyota that has 95% of the features. Love how cheap it is to drive it.
I used to be an office manager for a plumbing company when we got a call from the "up scale" part of town we toold them the terms were CASH. A lot of them hung up. If we got a call from the working man's part of town we would leave them a bill and it was always paid by the end of the month!
@@josephrichardson4678 You don't get wealthy messing other people over. You may get that way for a few years but it will catch up to you eventually. Mainly because no one will eventually want to deal with this person.
@@josephrichardson4678 Not sure how true this could be, Contractors can place Mechanics Liens on properties when customers don't pay. Mechanics Liens are available in all 50 states and the District of Columbia. Although each state will have different laws regarding these types of liens.
I would call the first level of wealth being debt-free and not being worried about regular bills. When I got that far I gained incredible peace of mind. Dave is right in all this; it's typical living below your means. I am doing very well, but my car is 20 years old, I bought my shirts for this entire year on a post-Christmas 60% off Gap sale, and I bring a bagged lunch to work with me. I could quit now but plan to keep going for about another 10 years. The average person wouldn't think I was wealthy based on how I carry myself.
Stealth wealth is what it's all about. I buy ties at Salvation army, never use vending machines, never get food delivered, and add water to my juices. It's all about spending less than you make, staying out of debt and investing as much as possible for the long term.
I love the honesty! I have a doctor in our family and you wouldn’t know it when you talk with him... wears underwhelming clothes etc. and drives an 8 yr old Acura. The guy is a neurologist and you wouldn’t know it at all... until you pull up to his house!!
No So - Doctors tend to be big spenders, and they spend their whole lives paying down the debt that they got themselves into in their earlier years. Many can't get off that rat race, even if they tried.
Anytime I started to do well, I had friends and family climb out of the cellar asking for assistance as if I'm Bank of America. It is infuriating and frustrating...these same people couldn't be found when I was living on ramen noodles and using multiple blankets so I wouldn't have a huge heating bill! What's worse..they act as if I owed it to them. Now older and wiser...I keep my mouth shut, I am not as accessable. NGL..it still hurts. My finances are better now. If I was a millionaire, I would still keep my mouth shut!
I'm 28, hit $1m net worth this year through a combination of very prudent saving (helped having good finance job as a research analyst) + strong investment returns. Was a broke student with $50k student loan debt 6 years ago. Only people that know are my family. I live a pretty happy life without spending lavishly. I prefer going on holiday backpacking with friends (pretty cheap trips), live in a pretty normal flat with a friend (could get a bigger place, but having fun right now with this set-up). Only lavish thing really is my motorbike (c.$8k). Having the financial independence to pack it in any time you want is incredibly liberating and worth more than any designer watch, clothing or fancy iphone.
Now that you have a million net worth it's no big deal for you to go buy a fancy watch , designer clothing or iPhone now. Just buy one used at a good price so when you're sick of it you can get close to the same you paid for it maybe even more. Than it was free. When you have cash, you have the freedom to do that.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $760k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part, One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a fiduciary financial advisor to guide you, that’s what works for my wife and I. It's been 6 years now and we've grown our portfolio to $1m.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
My step-father, who managed vacation properties for people on Cape Cod always said the same thing: "The people with real money here don't look like it, they don't flash it around."
I'm a millionaire, and I buy almost all of my clothes used for $2-$5 each from Goodwill. I am usually wearing track pants and golf shirts (I don't play golf, but man, those shirts are comfortable!) I drive a 2012 Camry that I bought in 2015, and I'll drive it until the wheels fall off (before that, I owned a 1996 Taurus that I also drove until the wheels fell off.) Cable TV? Nope. Eat out at restaurants? Never. Netflix? Nope. Go away on vacation? Never. You don't need any of that stuff to be happy. Really.
Love this for you 100%. I do feel like since you’ve amassed a million you should allow yourself to indulge sporadically. I do but only for achieving huge goals and sometimes those things are priceless. I spent $5k on a plane ticket overseas to see my last remaining grandparent, she literally died a few weeks after we had left, and I missed seeing my other grandparent who passed away during covid-19 but some things are truly priceless but agree many luxury holidays aren’t necessary to be happy. For me travel is often about seeing my family who live abroad and that I love dearly.
I can usually tell when someone is secretly rich by looking at their face. they have faces that lack stress, worry and other negative emotions. they just have a flat face. that's how you know if they are rich, regular people or even rich people that are in debt have worried or unhappy faces.
I did buy a BMW convertible when my old car died in 2001, but I was 50 years old, well-established in my career, and have always loved cars. Growing up in the '70s, my father (who taught me to live within my means and the value of delayed gratification) had always praised the build quality of German automobiles. When he retired, he bought a Mercedes because "I probably won't need to buy another vehicle" though he did tell me he wished he could have gotten a BMW but there wasn't a nearby dealership with service near where we lived. I think he would have appreciated my car, it is still my only vehicle, and it continues to give me joy every time I drive it.
My goal is debt free with a house and any vehicle without peeling paint (unless it's an old pickup) and my wife and son not worried about spending to much at the grocery store.
My goal now is $1,000,000 net worth by the time I'm 60, and 750k of that in cash and stocks. I'm 54 now and right on target. Can't invest in houses, they tax them too much, land is much cheaper to own. I walked in the bank the other day in just what I wear, jeans and a sweatshirt and talked about how I needed to diversify my account to stay under the FDIC ins limit. The lady was funny, she was just talking normal to me, then once she pulled up my acct it was Mr. This and Mr. That. 😁 It goes to show you $ does make ppl treat you different.
I think most people equate wealth with fancy expensive things, without realizing that people who own those things are normally SUPER rich and those purchases are comfortably within their means. Most people get some money and can't wait to flex on instagram.
When I was younger I too was fooled by thinking the people who have the nicest things had the most money, now that I’m older I know it’s the exact opposite 😂
I love seeing people in my small town that act like a million bucks with their big fancy cars. They try to impress me or whatever because I drive an old Toyota 4Runner. They are broke but look rich. It makes my day seeing how much people really care about impressing others. I could care less and I just want my kids and their kids to love a comfortable life financially.
My mom used to work in a department store and she used to say the customers with real money were understated and very courtious however those who wanted you to know they had money were rude and demanding. A lot of times those people could not pay their bills.
Just because a stock is going up doesn’t mean it’s a good investment. just because a stock is going down doesn’t mean it’s a bad investment. theres more to a stock than just its stock price. An entire company more. focus on the company, not just the stock price. true words from my F.A Susan Kay Mack...I made over half a million from ALB and NVDA
@Harry Smith Oh wow, that's super impressive! Honestly I would say, take time to figure out what you're passionate about. I'm not sure if you watched my latest video about passive income, but in case you don't have time just to sum it up: I basically realized I was making so much money as a corporate lawyer but wasn't feeling passionate about it and didn't feel like I was having an impact, so I'm starting this year from scratch and trying to build up these income streams that I feel passionate about. With your degrees, I would focus on what you love doing, and I think the money will follow.
Thank you, I needed to hear that. In today’s society we are told that we have to show people how much we have all the time even when we don’t have anything
We fit that picture perfectly. With a net worth around $4 M we drive ordinary used cars and shop at consignment stores. We did retire early but also realize we can lose it so we are more careful with life and decisions.
Plus, most of the people he is talking about have the majority of their money in retirement. They don’t look like millionaires because they can’t spend any of it. There is a huge difference between a million in non-retirement money and a million in your 401k.
There is no right or wrong way to live, millionaire or not. We should live our own life the way we want and not be judged by anyone. I see people who borrow and spend and live a happy life, and millionaires who save and invest yet live a miserable life. Wealth and happiness are not always correlated to each other.
Tanah Merah i agree about what u said thag happiness and wealth do not correlate. Happiness is relative. However, what dave is trying to say here is to live wisely in terms of your finances in general ( not about being able to reach a million and more) Its okay not to be a millionaire. But its a lot better if you live comfortably and HAPPY without drowning in debt.
Abcd Effg. True. We may feel happier if we can live comfortably without getting into debt. But some people may feel otherwise. They won’t hesitate to go into debt to achieve the lifestyle they want. It may seem wrong to us but if that’s what makes them feel happy then that’s all it matters. Some millionaires flaunt their wealth while some live frugally. People are not all the same. So it’s not a question of who’s right or who’s wrong. It’s a question of what makes you happy.
That is all relative. Those people may not be the most happy but they are not unhappy enough to make the tough choices necessary to give up their debt financed lifestyle. Most people tend to live beyond their means. And many poor people live a better lifestyle than the rich. It could be the reason why they’ll always remain poor. But if that’s how they want to live and enjoy life then I think we shouldn’t be criticizing their decision.
Anne Day. Thanks for your input. I think we might be speaking of different demographics. I know a lot of people who lives a very comfortable semi-luxurious lifestyle and they are quite happy even though they’re up to their necks in debt. That’s all I’m saying.
I retired at 55 , worked for a company and invested my money for 36 yrs. Im worth about 1 mil. not alot but im comfy. Home paid for , I drive a 12 yr. old Yaris ( which I love) shop at Thrift stores which I buy those over-priced shirts/pants others have so kindly broken in for me. and I watch and listen to my friends brag about their $40,000 cars, Lavish trips etc. then watch them scrape by just trying to impress... 2 have actually asked for loans , I declined them. I feel no need to impress anybody. :o)
I bet your house was under 100k when you bought it. Not the case these days. Housing is expensive, and wages haven't really been increasing. So you had it easy. Admit it.
@@fgjf1079 oh by the way, I used to work on VW bugs, Karmen Ghias, bus, square backs and fastbacks....rebuild engines for over 20 years...started when I was 13! Looks like you are a Porsche fan! We started pretty young back then!
Bob T. Aircooled cars are the best. I love the simplicity, the sound, the smell, simply everything about those older porsches. I wish Porsche never went to water cooled.
@@fgjf1079 You are making excuses for your own failure. Wages are vastly today than 30 years ago, even adjusted for inflation. There were achievers and whiners 30 years ago, just as there are today. OP was the former, and you are clearly the latter. Time to stop making excuses.
BMW=broke momma walking. I had a coworker, who didn’t make a lot of money, drive up in a new Beamer. I overheard a conversation she had with the bank and payments. It didn’t seem to be going her way.
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I live in the mid west. Number one indicator of wealth, patched bib overalls 🤠
I own 12 rentals not including my home. Drive a 1998 nissan Quest ( bought used for 4,500) net worth about 5.5 mm. I have been called unassuming before. Net wealth Trumps savings -always !
Your good looking to me ducky. I could not imagine Dave Ramsey looking like anyone else.
You’ve been reported for falsifying info and reporting people. You may love cancel culture, but we’re not having it.
@@davida9878Happy for you :)
I appreciate your commitment to guiding others toward financial success. We all strive for security and a better quality of life, and this can be achieved through smart investments, mindful spending, and effective budgeting. I'm thankful I discovered the value of hard work and financial independence early on in my journey.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what’s about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Could you kindly elaborate on the advisor's background and qualifications?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Rebecca Nassar Dunne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to over $750k.
That does make a lot of sense; you appear to understand the market better than we do. This coach is who?
REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I started to listen to Dave in 2007 at age 52. I wasn't a basket case, but I had some bad money habits and was in debt. He changed the way I looked at money. I'm 65 now and I have been retired for 10 years. I'm not a millionaire, but I'm debt free and all my needs are met. Thanks Dave.
did you have to live like a dog?
Congratulations Rick, I hope you're good man!
Well done mate ,that's the real dream not all of us will win the lotto but being debt free is just as good
I wonder if you’d have been a millionaire if didn’t retire at 55?
I got debt free at 45, and in hindsight would have contributed more to Roth IRA vs. aggressively paying low interest debt, including a 2% - $200 car note I was years ahead on.
I didn’t start putting money in until 48, and at 50: I’m between $150k-$200k in Roth/401k/HSA/Rollover IRA, with a milestone goal of hitting $250k.
I did career pivot and invested money back into myself & skills training, making low $100k, and the only debt I carry has been 12-month interest free balance transfer debt which I only used to max out contributions of $30k & $7500 with catch-up. I’ll do it again this year as well, because I can’t go back in time for annual contributions, but I do pay that interest free BT off.
June 2021 is when I successfully was hired for new position in IT at $84k as contract & FT in February 2023. Not even 3 full years - I get annual bonus & even a 4% raise, and I’ll pull off another $40k+ into portfolios again this year, with goal of 2 more years - hit 5 years at Fortune 100 company, I’ll definitely be able to leverage myself in job market better & go up $10-$15k.
In meantime, don’t be stupid, continue to work hard, and I’ll be on course to surpass $1M before 60.
My only regret was not investing sooner.
God bless!
"Very few people who look like they have money actually do."
That's some truth right there. I was a bank teller for a few years and seen first hand how true that statement was. It was always the Escalade drivers and the people with a new iphone every time one come out, that were kiting checks from one account to another. Taking out whatever loans they could and putting up every asset they had, these people would always be overdrawn and begging not to be closed out. The folks that really did have money were flannel shirts and oldsmobiles, ball caps and calloused hands. I was glad for my time at the bank, it was very eye opening..
This is a wonderful observation and should be a hi-lighted response!
Heh, as a bank teller you saw how true that *statement* was?
I just started a bank job a month ago. I definitely know what you’re saying. I always have a good feeling when I talk to an elderly man or woman with hundreds of thousands of dollars in the bank. All I can think of is “good for you!” Way to manage your money and enjoy your retirement!
Write a book of your experience
I was also a bank teller and I can verify what you are saying. Usually people who had money were also way more relaxed and did not have need to be rude or treat you badly. Usually the ones who thought they got much money were the rude ones. But there is a reason why those Escalade drivers with fance new iphones did not got any money. Their money went to those gadgets.
Talk about freaky. One of the coolest feelings in the world is when you know you can pay cash for something you want, but you don't buy it cause your content without it. That's a feeling money cannot buy even though you have the cash to buy it. Freaky fun.😺
Amen...
WELL SAID
That's right. You know that you don't need it---and wanting something is a passing emotion!!!
@@kaohsiung99, doesn't matter if you need it. You have the cash to pay for it cause you just want to buy it but you don't cause you can buy it later if you want to. In other words you have the power to buy what you want but your still content without it. Or you know you could buy it anytime you want. It's really freaky. That's the true definition of wealth. It's like the more money you get the less you want to spend. That's what happens to me. The more cash I get into savings the less I want to spend. It's a weird phenomenon.
@stevenstrumpf7 Not true. I have two minimum wage jobs and walk by stuff all the time. You need discipline
People say 'Master of Digital Business' was banned on multiple platforms for revealing too much about easy online income. The author has gone missing, but the book is still on Borlest.
can't find anything on it. do you know who wrote it?
Save and invest. The hardest part is getting started. Once you do it's amazing how fast it starts adding up.
@@talentoso2212 Really? What its like?? I am young and I dont know anything about investing
@@BlackGoddess143 its very comforting and relieving. It brings a sense of security and a faith that things will work out. It gets rid of the feeling of being trapped. Seeing yourself putting say 300 a month in and in one month you see you've saved 12 000, then a few months later you see 18,000 due to investments paying off. Its like, hey, I might actually get to buy a house or car in cash.
@@crownary3537 a Charles schwab retirement plan/401k. Ive made decent money off of amd and enphase on the stock market. And nio/tesla, and Cleveland cliffs but those are riskier. Solar power companies are also nice.
It gets easier as you build. The toughest part is getting to the 1st million. The 2nd million is half as easy. Getting to $3mil even easier and getting to $4mil even easier. Each $1mil after the initial mil milestone only gets easier. Takeaway: hit the 1st mil as quickly as you can!
Aidan Hodge Science quick question do you stock as full time or part time? Because I am young too and want to do stock but I don’t want to do it as I full time job.
My goal is to be a millionaire and dress like I have no money. I have the 2nd part down.
Thank you for that comment because it made my day😂
Chuckle 🤣. You made me laugh out loud!!!!!!
Congratulations you are halfway there 😂
Doug Demuro enters the chat
I didn't know I was a millionaire until I listened to Dave Ramsey. I still buy my clothes on Ebay (used) or Goodwill and love driving my 2000 Toyota 4Runner! A million dollars is nothing to brag about now a days. "Just buy what I need, not what I want..."
Being wealthy is not about how much money you have its what freedom it gives you
Correct. Also, the stuff you do not have to put up with.
This exactly. This is why I have invested from day one of getting out of college and going to work for 30 years straight. I could retire now at 53 if I wanted. It's all about freedom.
Exactly.
@@ms8742 No BS...lol
What freedom it gives you
If I was a millionaire I wouldn't want anyone to know.
That right . All you would have is people trying to scam you out of money.
Scully Fox yup. I am a millionaire a few times over and not a single person I know knows it. I drive a 15 year old Honda with 260k miles on it. I like being anonymous.
You don’t need a million dollars to do that. My brother in law is broke and don’t know anyone
* when you are a millionaire... =)
All you going to have is people trying to scam you all the time if they know you have money. Dave must question himself all the time. Does this person likes me because I have money? Is this person trying to scam me? I don't even Tell my Girlfriend how much money I have I play poor all the time.
My brother, who is a CPA, tells me this all the time. That many of the people you think are wealthy, are broke, and many of the people you think are poor, are loaded.
Same, my father is a CPA.
NFLClip2019 what’s a cpa , I’m not from America
@@hhhjjjj1065 Certified Public Accountant
That's awesome
I am a millionaire and I always feel broke.
When I was younger, I wondered what it must feel like to be a millionaire. I invested, saved, lived below my wages. When I turned 54, I became a millionaire. I did not feel any different the day this happened, the day before or 30 years prior. Life is a marathon, not a sprint. One day at a time.
You and I have that in common. The way I see it, the $ just lets you not have to be perfect. By that I mean, a parking ticket is no longer going to break the bank. Or breaking your arm, etc. I still get anxious when something unexpected happens (which is nearly every month, lol), but I don't constantly have to think, "Ok, where can we cut expenses this month to pay for that fill-in-the-blank problem."
same
agreed but the key, always enjoy the journey. Be smart, stay in your lane and prepare for your future
@@jimhandler1129 Same here as well. 👍
@@jays9196 It was always a goal of mine. Took me awhile to achieve. Slow and steady wins the race. No one would ever guess, as I live a very frugal, but debt free life.
it's how my old man was. had no idea how much he was worth until he passed away and then we were like whoa. the most important thing i inherited from him is to live frugally.
How much was he worth ?
God he should have taught you about money
How dare you...your story is incomplete
khadijah jones $500,000
But at the same time we dont take it with us so its definitely a balance thing. Whats the point living frugally and having millions in the bank but never spending on any luxuries and nice holidays. Theres loads of very rich people that have developed the habit of never spending so they are very stingy. Balance is the all important way to go. Otherwise your children and grandchildren will spend it anyway.
Every time my bank account gets low, Dave Ramsey videos start to show up in my feed.
There is no fork.....
Lol. Use your fingers, there's no spoon.
😂😆😎
Are you using your phone or Google to check your bank account? You know Google 👀 everything you do. If Im on the internet looking for a product to buy & if i do not buy it when I go to RUclips, the first ad is products similar to what I was looking for & I feel like the ad stalks you to buy.
👏👏👏
I have met two millionaires at a personal level. Two millionaires where I have sat down for dinner and met their families.
The first one was someone I met at my church. He was an old fashioned gentleman probably in his 60’s. He owned a coal mining company of some sort and had a side hustle of making man made lakes. He drove an old beat up Chevy pick up.
The other is my current boss. He owns the company that employs me. He drives a beat up Toyota sedan. Wasn’t even the nicest car the year it was manufactured. He’s one of the most charitable person I’ve ever met.
What's driving an old car got to do with it? If you are a multi millionaire than what's the difference between a beaten up car or a $20K nicely used Lexus? Pennies on a millionaire's dollar. Millionaires who drive an old car don't drive it to save money. They drive it because they don't care about cars. And that's fair...
@@mathisnotforthefaintofheart It's not just "cars" that they don't care about. They don't care about fashion, entertainment, expensive food, exotic vacations, etc. *THAT IS THE REASON THEY ARE RICH*. They keep their money!
You've met many more than that, you just didn't realize it.
I like both - new and old cars. I have both, new and old cars. They're not tied to my net worth, for any reason. Ppl need to get off the whole; new car old car deal. Neither one sez anything about the person. Especially, the person that owns BOTH!
@@samryan7954 as someone said earlier it’s about not caring about having those expensive status symbols. I like old cars and new cars too. I much more like old old cars but that’s me
Wealthy don’t post their vacation on Facebook and social media because they didn’t take you on vacation they were just doing their vacation. I love that!
Amen...
Lol yes they do.
Tell Floyd ‘Money ‘ Mayweather that.
@@goat7844floyd mayweather is in the 100+ million dollar category lol
Money talks, wealth whispers
Cash sings. Always offer cash for deals.
Another lame copy and paste comment made by another poor person. How original.
@@LaSombraa I didn't copy and paste this and I am not poor. I think you are sour and projecting friend.
@Buster
I love that
@@LaSombraa and why do you insult the poor? The poor have more chance to be in the Kingdom of GOD. But if you're arrogant then u only enjoy this life for what... Not even a 100 years
Best financial advice I've heard:
Same house, same spouse, same car.
Commitment is important 😅
Agree. Only thing I did differently is I bought a new minivan after I drove my first one for 18 years.
And of those three... same spouse is the most important, if you got the right one!
Kinda prefer same house, no spouse, no car.
Same house, no spouse, new car 😎
As Wesley snipes said, “don’t let the internet rush you, nobody posts their failures”!
I see what you are getting at... But there are thousands of people posting their failures online
@Joe H its not ironic because what you're saying has nothing to do with the quote
@Joe H lol
I posted my failed 1RM squat yesterday
@Joe H He is still rich . Dont get it twisted. He just isnt wealthy or as wealthy anymore.
I made a lot of money in my business early and I lived like it for a number of years in my twenties. Nothing but misery, both from the stress of having so much to maintain and all the leeches that came out of the woodwork trying to take it, borrow it, guilt it etc. Now we live a modest life making 10 times as much and I've actually heard from friends that others have assumed I must have went under to downsize so much. I love it, it means the only people that contact me actually want to talk to me.
Rob great job!! Proud of you
👏🏾👏🏾👏🏾
"it means the only people that contact me actually want to talk to me." very sad and true...money doesn't change you it changes the people around you
@@TopFlightSecurity415 That is a WHOLE word right there
heya Rob how ya doin ;) jk happy for you man!
What Dave said here is so true. Back when I was in my 20s making $33k/year, I was driving a $40K car. Today I am in my 50s making $200K and am driving a $28K car. In my 20s, I was trying to impress people, even if it made me broke. Today I enjoy finding the cheapest way I can to live and watching my assets grow.
You got to the point where you could afford most of the things you want, and realize that you don't need much.
I come from the third world. In the third world if you show you have money you get robbed. I live the same way in the US as I used to in the third world.
@Gazpacho Suave We like to travel so there's where our money for fun stuff usually goes
Us, too. I don't buy luxury purses, I don't buy jewelry, and I don't wear expensive clothes or buy them. I don't want to get robbed.
That's why the 3rd world ought to be nuked off the planet.
Traveling is best way to spend your money .
@@glorymanheretosleep Pepega
I always come here when I start to fall into the mind trap of wanting to spend more just so I can have nicer things. Dave Ramsey's rant is always a nice slap in the face to bring you back to reality.
Amen to this 🤍
Yes!
If you have money get some nice things. Don't let this clown stop you
Me too
@@calebmelton5989 t. Broke
Rich people seek wealth.
Poor people seek validation.
YES! YES! YES! I've been saying this for decades. I used to be a loan officer & underwriter for quite a few years and after digging through a thousand peoples income/ debts & other financials, most people are one paycheck away from ruin. Especially the guy that pulls up in a Mercedes.
Of all my wife and my siblings, the brokest one drives a three year old Mercedes. The richest one, many millions, and his own construction company, drives a five or six year old Ford F-250 pick up truck.
@ Phil 556 sorry, but that's a silly statement. You used to be loan officer and you tell us that MOST PEOPLE are one paycheck away from ruin.? No. Maybe that's true of the types of people who were applying to you for loans, but they are not "most people". You are like a hospital nurse claiming that most people are sick, because that's all they see every day.
@@daleviker5884 Your opinion, that's fine. But all of the macro data suggests that I'm right, in addition to my personal observations.
@@phil5569I think Dave Ramsey would agree with you.
I remember an episode where D.R. congratulated a caller for being an everyday millionaire. The caller was polite and asked if it was ok to buy a tablesaw. That’s the kind of humility I appreciate.
I always used to look around at what our friends and neighbors had and I would ask my husband where in the world do they get all this money from. He always replied “there is wealth and then there is the appearance of wealth”.
So true.
Reminds me of “The Millionaire Next Door” by Thomas Stanley. Lots of millionaires are very unassuming, frugal people, who live for themselves rather than for flexing on social media!
Ross Campoli - Leadership & Business Videos yep , great book
That book really helped change my life. At the time I worked for a guy who was wealthy, had a nice but not pretentious home and drove a chevy. He was a great example.
"Stop Acting Rich: And Start Living Like a Real Millionaire" by Thomas Stanley is another great book about this subject.
Exactly! Everyday millionaires really don't have egos, I've noticed. Can't wait to be one!
Bragging too much about your wealth is a great way to get friends and family begging you for money
'The valet isn't impressed - until they get the tip.' Love it! So true.
I interviewed once at a brokerage where a relative worked. She introduced me to the junior brokers who were...broke...but wore the fancy suit, carrying a latte and wearing a shiny watch. Then while walking to her office, we walked past one of her high network brokers who I later found out was getting seven figures annual commissions and above. The guys wore polos, had coffee from the nearby food court and wore a casio watch.
He did have a suit ready in case he needed to meet clients, but he told me it was bought off the rack.
Years later my relative asked me to drive her to this senior broker's house for a social gathering. He was staying at the corner unit of a long line of attached units. His unit was bigger than the rest but it was nothing fancy. I later found out, he owned all the units, stayed in one and rented the rest out.
Great story. It appears that people with real wealth understand how worthless so many of these status symbols are.
I love it! Thank you for sharing the story.
The more you ARE, the less you NEED.
Jean Shepherd i love this quote!
Wow this is profound! Thanks!
Could you be more specific?
I'm 60 and have a net worth of just under 5 million dollars. I still don't view that as a lot, but friends and coworkers would be shocked to know that. I still go to the bottle return at the grocery every Saturday.
Love that 💓
Excellent - great job. What was/is your secret?
Please teach us your ways
@@sgist7824 im afraid that the thing that contributed the most was staying single and not having children. That allowed me to max out my 401k every single year. I also invested in the stock market outside of my 401k for decades. Ive always lived a minimalist life Buy a modest car and drive it for at least 10 years.
When we were kids and dreamed of being a millionaire, we didn't know what that would look like 50 years down the line. 1M in my neighbourhood is a good start. It is not considered wealth.
My husband and I read a life changing book early in our marriage, The Millionaire Next Door. It has influenced greatly how we live and save. Wonderful to hear you with the same message many years later. No one would guess that we are well off, except maybe those charities we support.
I will be part of the 1%. I am an immigrant from Mexico. I will do everything I can to help my family and the people of this great nation. Thank you for your guidance Mr. Ramsey.
And, that is the promise of America. Not welfare for life as some believe.
Welcome! We’re happy to have you! 🇺🇸
USA! USA! asi debe ser!! saludos!
Good luck, Brother,Kick some ass!
You don't need to be in the top 1% to be millionaire though. 1%ers are worth about $12+ million.
here's a little secret, we never tell you we're the owner either, just the manager. That way when there's a problem, I have to get 'approval' before I can reduce anything or make any decisions.
100% correct and I am a restaurant owner.
Ok makes sense now, they would always tell me the owner is never here 🤫
I had a high school teacher who looked like a mad scientist and he wore your regular walmart jeans and flannel shirt. It later comes out that he's a millionaire from the construction industry 😂😂😂 You would've never known that someone as quirky as him would be worth that much. He was a great teacher as well.
Haha. nice!
From Leo: I had an old man in work clothes looking at a car on our lot. He picked a nice car and wanted to write a check. I called the bank to verify the check and the branch manager said if that guy wanted to buy our dealership, his check would be good. I learned then that not all millionaires are the Hollywood Glitz types.
Love this story! 👍👍
Brilliant..how old is this story ??
Great story.
@@virtuosowins 1977
The rich stay rich by living like they are poor, the poor stay poor by living like they are rich 🤔
@Snow 123 Did you watch - or should I say listen - to the video?
Snow 123 He literally says he’s not talking about people who make over 10 million. You are talking about the mega rich.
Well said.
For those who are complaining about billionaires not living like that, they probably live more like someone trying to be a millionaire, than a millionaire trying to be a billionaire, if thqtmakes sense. Take a look at Bill Gates, Warren Buffett, even Jeff Bezos and Elon Musk - and then compare their lifestyle to that of celebrities/actors, etc (Hollywood types) who make a fraction of what they make. I bet the Hollywood celebrities live more extravagantly, even though they are multimillionaires and not multibillionaires.
For the rest of us normal people, I think the pattern holds true. The thing is that even when rich people DO live extravagantly, buy expensive cars, etc, it's a smaller percentage of their wealth (Dave literally just mentioned this as I was typing it)
It's the classic living below/above your means
True.
I’m 21, invest half my yearly into Roth and am paying for school in cash. I’m debt free and building my saving for my first house (hopefully a duplex, to rent half).
You're way ahead of your time!! Good for you!!
you got this!!
Fantastic 😁
If you are doing that now at 21, you are going to be a millionaire. No question about it. Keep it up.
You can buy up to a 4plex with an FHA at 3.5% down. Good luck :)
When people know your financial status they dont hesitate to find ways to access your money without the slightest care for how you manage your money! The less people know the better!
TRUUUUTH!
Very true indeed.
Yep which is the core reason young pro athletes are prime targets
Truth. My ex was extremely frugal and loaded but I had no idea how much he had because he was very secretive about it. showing off only attracts the wrong type of people.
Just like the government
There's the old joke where a guy says 'We'll never be rich because my wife wants people to think we already are'.
never heard that one but can relate.
One of my exes was like that. Unfortunatly for her, after we split up, I made my deal of a lifetime and now am what she always wanted us to look like - financially secured for life.
The wife is America. And so is the husband.
Rob Allison My friend's ex was horrible at money. Her whole family was. Her aunts and uncles and dad all filed for bankruptcy to not pay bills. He had to leave that family. Too many baby showers, vacations, restaurants...my head would spin as he told me.
@@sdrjr3562 Hope your friend is doing alright now. I hate the whole 'spend money before you have them'-mentality that plagues so many. In the long run it affects us all when these stressed out debters takes out their frustration on the surroundings.
' They seldom post their vacations on Instagram for you to see because they didn't take you on vacation'. I do love this. I wish more ppl would follow this advice on social media.
That’s us. People don’t need to see what we did and where we went to spend and enjoy our time.
Plot twist:
Quit social media all together and then you’re not even troubled with seeing people of that mindset
I have a co-worker who always brags about branded stuff he owns. He doesn't believe in savings or investment. A month after he bought a brand new suv, Covid-19 strikes. Wife lost her job. He became a very different person. Can't think straight anymore. Always worried about losing his suv.
Sometimes wanting things is more fun than actually owning them.
I felt that about my wife.
Exactly. Like the bread maker that gathers dust on the kitchen counter.
I know exactly what you mean. The world would be a depressing place if you only had the best of everything and had nothing to admire.
Spock from Star Trek episode, "Amok Time": After a time, you may find that 'having' is not so pleasing a thing as 'wanting'. It is illogical, but it is often true
100% true.
My spouse and I drive a 2011 and 2014 automobile. Every time I want to buy new vehicles I have to watch Dave. There is no better car than the one paid off.
"The valet is seldom impressed... until he gets the tip". Should be printed on tshirts. By the way, I want to thank Mr. Ramsey because a little over a year ago my wife and I promissed to pay off our debt of almost 30k. We paid it off this month, following his advice on his podcast.
Congratulations!
Manager at an auto dealer in Phoenix once told me about Alice Cooper riding his bicycle to the dealership in his long hair and jeans. Couldn't get the time of day from anyone there and went across the street to buy the nicest car on the lot.
This is so true! We are one of the "secret millionaires ". I drive a 16 year old Prius, usually buy my clothes from discount stores or even thrift stores, and we have a budget and actually follow it. The main thing is to ALWAYS live beneath your means and invest wisely.
Health is the greater wealth along with time.
Buying too many things isn't good for your health.
My Dad used to always say "No one needs to know what you have". I've always taken that to heart.
I am becoming wealthy because of this man! Thank you Dave Ramsey for being you!
You are becoming wealthy because you changed your thinking.
True, but Dave's a good cheerleader that helps some to stay focused.
I'm still not clear why this isn't obvious to all adults
I love my used Camry. Some of my friends have corvettes or jaguars, but when we go out together we usually take my car because it can actually seat more than 2 comfortably (or because theirs are in the shop getting repaired).
Not only that, I’d be worried about people dinging the doors.
elmateo77 we take regular cruises to the Bahamas on our boat, but it’s used and our cars are all used and we already have our retirement income stream coming in (since age 52). But, we have friends who all drive brand new Cars, and who take one week vacations, and who spend like crazy on shiny baubles, who can’t understand how we go away for a year. Many, like people here, assume we have family money we don’t talk about. We don’t.
99 camry and 2011 camry here. Cars are a waste of money.
One of my financial advisers told me I have been blessed with the gift of thrift. He knows my wife and I both drive used Hondas. He knows we don't spend $180 on a pair of jeans with holes in the legs. He knows how we paid for our kids' college. He knows how we paid for our house. He also knows our net worth and how we accumulated it. I told him we buy quality stuff when the quality matters.
It also helps not to have expensive hobbies, like fast women or slow horses.
The bigger the holes, the higher the price !
I would never purchase jeans with holes in legs....so laughable!
@@Javeec 😂😂😂 think this went over a lot of heads tbh
"They are not living their life to impress others." Such an important concept to building wealth and enjoying life.
You can be miserable in a big house , nice car and in a relationship, but you can also be happy in a small house , old car and no relationship.
Absolutely true! My ex-father in-law was a very wealthy doctor, however, the whole family lived way below their means. He would even buy the demo cars at dealerships(with cash, of course). They lived in a nice suburban home, nothing flashy.
Money does not bring you happiness it brings you options, what you do with those options may bring you happiness.
it buys you a certain amount of freedom.
@ Hilden Johns That's well put.
"Too many people spend money they haven't earned to buy things they don't want to impress people they don't like"
Will Rogers.
Will Rogers never said that. I started it on Zerohedge a few years ago. Spending money you don't have to buy things you don't need to impress people you don't like. It's the American Way.
@@mrdanforth3744 you should take a queue from one of his other quotes, “Never miss a good chance to shut up.” Will Rogers said that more than 75 years before Zerohedge even existed. I think you are mixing him up with Roy Rogers...
@@insideoutsideupsidedown2218 Citation please? I know what I said and it was original at the time, if I was anticipated I would like to know about it.
@@insideoutsideupsidedown2218 “Better to say nothing and be thought a fool, than to open your mouth and remove any doubt,” Mr. Danforth. I’m quoting someone, I know not who, but everyone knows did not come up with that quote. You weren’t even born yet.
We love Dave, he speaks the truth. When you visit Ramsey solutions and Dave is broadcasting . He will come out on every break to meet the visitors . Dave saved us and got us on the correct path follow his advice and it is possible to get out of debt.
I get the impression that he has advanced so far, and yet he has never forgotten his own mistakes and hardship. Top man.
"Not wanting something is as good as having it" - Socrates
Wow.
Hey stranger on the internet, that quote blew my mind.
Thank you ❤️
@@trachbeba3488 No problem! Thanks for writing back means a lot :)
Probably better.
thats a bar
Flashing your money is one sure way to lose it quick. You'll get every gold digger, con artist, and down-on-their-luck distant family member knocking on your door.
That’s why a lot of big lottery winners go bankrupt or get killed.
@@choreomaniac Even get killed? Really? If true, that is awful.
When you finally reach the point when you can afford that fancy car or the trophy house you get them and realize that it doesn’t make you any happier. It’s just stuff.
G : exactly.
100% More people need to know this. I grew up lower income 1 bedroom 1 bath duplex with mom, dad, sister and myself. Slept in the living room until I was old enough to move out. A couple of years ago I started earnings life changing money and started buying stuff: Nice guns, atvs, new truck, 2nd car, etc. None of it made me happier. I even went into depression because I couldn't understand why I wasmy happier.
When you finally reach the point when you can afford the fancy car.....you dont want the fancy car. Hahahaha 💚❤🧡💙💛💜
@@heatherluna5075 Facts
@@chrisginoc yep....yep....and yep💗
Always remember, don’t get so caught up in becoming a millionaire that you forget to enjoy life. Manage your finances well and treat yourself from time to time.
I have a small house, a 13 year old car and retired early. I'm not a millionaire but I'm blessed and grateful. I don't buy designer clothes, take one really nice vacation a year and try to save as much as I can. I wasn't a saver when I was young but got real in my 40's and never looked back. You can do this. Just prioritize and stop living above your means.
This inspired me thank you!
This is so motivating!
I’m aiming to hit 100K net worth at the end of this year 🤞🏽
Here here!
@@AlexBridgesKiev Here here what? :P
@ It means congratulations. Its slang.
@integr8er66 oh, I really did not know that! Thanks!
I’m curious about the origin of that expression
@ ya, I think it's origen is English, meaning brittish, but not sure, I have heard it in theaters, as people clap
Understated luxury......Toyota can have same features a Mercedes does.....and much more dependable.
It’s very simple......do the opposite of what the majority does. Because the majority of people just look around and do what everyone else does.....and don’t even realize that their thoughts are not their own. Think for yourself
Exactly. I owned a gorgeous MB but shuddered at the maintenance cost - I ditched that car asap and bought an unassuming Toyota that has 95% of the features. Love how cheap it is to drive it.
I used to be an office manager for a plumbing company when we got a call from the "up scale" part of town we toold them the terms were CASH. A lot of them hung up. If we got a call from the working man's part of town we would leave them a bill and it was always paid by the end of the month!
My brother told me a story about an investor who would not pay the contractors, fire them 1/2 way, etc. One way to get rich I guess..
@@josephrichardson4678 You don't get wealthy messing other people over. You may get that way for a few years but it will catch up to you eventually. Mainly because no one will eventually want to deal with this person.
@@josephrichardson4678 Not sure how true this could be, Contractors can place Mechanics Liens on properties when customers don't pay. Mechanics Liens are available in all 50 states and the District of Columbia. Although each state will have different laws regarding these types of liens.
@@lanmandragoran8552 I personally think that folks that stiff a working person are the lowest of low.
I would call the first level of wealth being debt-free and not being worried about regular bills. When I got that far I gained incredible peace of mind. Dave is right in all this; it's typical living below your means. I am doing very well, but my car is 20 years old, I bought my shirts for this entire year on a post-Christmas 60% off Gap sale, and I bring a bagged lunch to work with me. I could quit now but plan to keep going for about another 10 years. The average person wouldn't think I was wealthy based on how I carry myself.
Stealth wealth is what it's all about. I buy ties at Salvation army, never use vending machines, never get food delivered, and add water to my juices. It's all about spending less than you make, staying out of debt and investing as much as possible for the long term.
Great for you, but perhaps you should consider loosening the purse strings a bit.
And your frugal habits will ensure you stay financially comfortable. Good for you!
@@slmunney7760 why
Being rich is not the road to happiness, being happy is the road to riches.
Maintaining your health adds to keeping that happiness going.
So true! Wealth has no shortcuts, here are ways to acquire it..🔥
I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI pIanner. Living the dream, hoping to retire next year.g
Elizabeth Greenhunts
get to her with the name
I love the honesty! I have a doctor in our family and you wouldn’t know it when you talk with him... wears underwhelming clothes etc. and drives an 8 yr old Acura. The guy is a neurologist and you wouldn’t know it at all... until you pull up to his house!!
Is his house nice?
No So - Doctors tend to be big spenders, and they spend their whole lives paying down the debt that they got themselves into in their earlier years. Many can't get off that rat race, even if they tried.
Big houses are overrated. I prefer smaller homes with a nice size back yard. Nothing too fancy.
fg jf lol. Ok.
Anytime I started to do well, I had friends and family climb out of the cellar asking for assistance as if I'm Bank of America. It is infuriating and frustrating...these same people couldn't be found when I was living on ramen noodles and using multiple blankets so I wouldn't have a huge heating bill! What's worse..they act as if I owed it to them. Now older and wiser...I keep my mouth shut, I am not as accessable. NGL..it still hurts. My finances are better now. If I was a millionaire, I would still keep my mouth shut!
"One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."--- PROVERBS 13:7 KING SOLOMON
There is that maketh himself rich, yet hath nothing: there is that maketh himself poor, yet hath great riches.
Sheesh 🔥💯
@@Drummerjl1 I LOVE the Book of Proverbs and Ecclesiastes. Biblical wisdom does it every time for me.
I'm 28, hit $1m net worth this year through a combination of very prudent saving (helped having good finance job as a research analyst) + strong investment returns. Was a broke student with $50k student loan debt 6 years ago. Only people that know are my family. I live a pretty happy life without spending lavishly. I prefer going on holiday backpacking with friends (pretty cheap trips), live in a pretty normal flat with a friend (could get a bigger place, but having fun right now with this set-up). Only lavish thing really is my motorbike (c.$8k). Having the financial independence to pack it in any time you want is incredibly liberating and worth more than any designer watch, clothing or fancy iphone.
What investments?
@@sleekSquirrel good for you
Now that you have a million net worth it's no big deal for you to go buy a fancy watch , designer clothing or iPhone now. Just buy one used at a good price so when you're sick of it you can get close to the same you paid for it maybe even more. Than it was free. When you have cash, you have the freedom to do that.
How did you do it man? Similar boat as you and I’m 23 now
FireStrato a house that gains value and save
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $760k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
how do I get in touch with this consultant that assist?
STEPHANIE KOPP MEEKS, that's whom i work with look her up and thank me later
Thanks for the info . Found her website and it really impressive
I’ve literally only watched Dave Ramsey videos for a few days straight, I don’t even have debt or money issues😂
Bianca Bee which baby step are you on
Something brought you here for a reason...
think of how you can improve something in your life with his content
Have a great day =]
Bianca Bee - That's good, this way you will never fall into the same financial mess most of his callers are in. Preventive medicine 🤓
Yet
Allah The Moon God Nah
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part, One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a fiduciary financial advisor to guide you, that’s what works for my wife and I. It's been 6 years now and we've grown our portfolio to $1m.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Spot on again! "For a mans life consists NOT in the abundance in which he possesses" The Lord isn't interested in "yours" but "YOU"!
My step-father, who managed vacation properties for people on Cape Cod always said the same thing: "The people with real money here don't look like it, they don't flash it around."
I'm a millionaire, and I buy almost all of my clothes used for $2-$5 each from Goodwill. I am usually wearing track pants and golf shirts (I don't play golf, but man, those shirts are comfortable!) I drive a 2012 Camry that I bought in 2015, and I'll drive it until the wheels fall off (before that, I owned a 1996 Taurus that I also drove until the wheels fell off.) Cable TV? Nope. Eat out at restaurants? Never. Netflix? Nope. Go away on vacation? Never. You don't need any of that stuff to be happy. Really.
Love this for you 100%. I do feel like since you’ve amassed a million you should allow yourself to indulge sporadically. I do but only for achieving huge goals and sometimes those things are priceless. I spent $5k on a plane ticket overseas to see my last remaining grandparent, she literally died a few weeks after we had left, and I missed seeing my other grandparent who passed away during covid-19 but some things are truly priceless but agree many luxury holidays aren’t necessary to be happy. For me travel is often about seeing my family who live abroad and that I love dearly.
If you strive to OBTAIN - you will strive to MAINTAIN. Peace is a part of wealth many people with money know nothing of.
No shame on growing old Dave!! Shame would be not getting wiser!!
Keep sharing those secrets!!!
True!
I think he was just being self-deprecating.
I can usually tell when someone is secretly rich by looking at their face. they have faces that lack stress, worry and other negative emotions. they just have a flat face. that's how you know if they are rich, regular people or even rich people that are in debt have worried or unhappy faces.
Or they might just be plain rich idiots.
No happy faces?
I did buy a BMW convertible when my old car died in 2001, but I was 50 years old, well-established in my career, and have always loved cars. Growing up in the '70s, my father (who taught me to live within my means and the value of delayed gratification) had always praised the build quality of German automobiles. When he retired, he bought a Mercedes because "I probably won't need to buy another vehicle" though he did tell me he wished he could have gotten a BMW but there wasn't a nearby dealership with service near where we lived. I think he would have appreciated my car, it is still my only vehicle, and it continues to give me joy every time I drive it.
My goal is debt free with a house and any vehicle without peeling paint (unless it's an old pickup) and my wife and son not worried about spending to much at the grocery store.
@Gazpacho Suave Simple, yet awesome!
Once you get there, you can set your sights higher.
My goal now is $1,000,000 net worth by the time I'm 60, and 750k of that in cash and stocks. I'm 54 now and right on target. Can't invest in houses, they tax them too much, land is much cheaper to own.
I walked in the bank the other day in just what I wear, jeans and a sweatshirt and talked about how I needed to diversify my account to stay under the FDIC ins limit. The lady was funny, she was just talking normal to me, then once she pulled up my acct it was Mr. This and Mr. That. 😁 It goes to show you $ does make ppl treat you different.
@@integr8er66 You don't get to take it with you when you die.
@@SomeGuy-sy5sj But you do get to earn it.......
I think most people equate wealth with fancy expensive things, without realizing that people who own those things are normally SUPER rich and those purchases are comfortably within their means. Most people get some money and can't wait to flex on instagram.
The Cash Compass oMy experience with people with flash was that they were mortgaged or credit carded out
You’re just a hater
Margaret Hess that makes no sense you sound broke
The Cash Compass forget it- you don’t understand what I am trying to say. I’m not the hater or broke here
@@margarethess6583 I would ignore that person.. they seem desperate for attention.
When I was younger I too was fooled by thinking the people who have the nicest things had the most money, now that I’m older I know it’s the exact opposite 😂
There are millionaires that do drive expensive cars tho simply because they like it.
@@ZeroZoneZZ Yes, though I assume that for the sensible ones, those cars are well within their means.
I love seeing people in my small town that act like a million bucks with their big fancy cars. They try to impress me or whatever because I drive an old Toyota 4Runner. They are broke but look rich. It makes my day seeing how much people really care about impressing others. I could care less and I just want my kids and their kids to love a comfortable life financially.
My mom used to work in a department store and she used to say the customers with real money were understated and very courtious however those who wanted you to know they had money were rude and demanding. A lot of times those people could not pay their bills.
Just because a stock is going up doesn’t mean it’s a good investment. just because a stock is going down doesn’t mean it’s a bad investment. theres more to a stock than just its stock price. An entire company more. focus on the company, not just the stock price. true words from my F.A Susan Kay Mack...I made over half a million from ALB and NVDA
I know Rita Wildrin Mora. I have been following her track record ever since i looked her up on the web. Quite impressive.
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth
Definitely doing my own research on Rita, really awesome.
Live life for you! What a great way to start the day!
Harry Smith hey Harry!! Haha, you know me-dedicated to spending too much time on RUclips 😉
jfish147 oh I actually don’t follow Grant Cardone. Are his videos any good?
@Harry Smith Oh wow, that's super impressive! Honestly I would say, take time to figure out what you're passionate about. I'm not sure if you watched my latest video about passive income, but in case you don't have time just to sum it up: I basically realized I was making so much money as a corporate lawyer but wasn't feeling passionate about it and didn't feel like I was having an impact, so I'm starting this year from scratch and trying to build up these income streams that I feel passionate about. With your degrees, I would focus on what you love doing, and I think the money will follow.
Thank you, I needed to hear that. In today’s society we are told that we have to show people how much we have all the time even when we don’t have anything
We fit that picture perfectly. With a net worth around $4 M we drive ordinary used cars and shop at consignment stores. We did retire early but also realize we can lose it so we are more careful with life and decisions.
People have gone from riches to nothing in a short period of time, so living modestly is always good, even if you do treat yourself here and there.
People who become millionaires didnt get there by buying designer clothes, going on vacations all the time, driving fancy cars
Tyler Hern can you call my wife right quick?
Plus, most of the people he is talking about have the majority of their money in retirement. They don’t look like millionaires because they can’t spend any of it. There is a huge difference between a million in non-retirement money and a million in your 401k.
Dawn T exactly that’s why I’m mostly investing in a taxable brockage account so I can touch it anytime I want
I'll be an everyday millionaire and I do all those except the fancy clothes.
fake it til you make it
Read “the millionaire next door” changed my life and it tells the real story of how high net worth people behave and how they live.
I read it 2 years ago. We a good book. Very interesting.
Not only do I find this video fascinating, I am enjoying reading every comment. Keep them coming
There is no right or wrong way to live, millionaire or not. We should live our own life the way we want and not be judged by anyone.
I see people who borrow and spend and live a happy life, and millionaires who save and invest yet live a miserable life.
Wealth and happiness are not always correlated to each other.
Tanah Merah i agree about what u said thag happiness and wealth do not correlate. Happiness is relative. However, what dave is trying to say here is to live wisely in terms of your finances in general ( not about being able to reach a million and more)
Its okay not to be a millionaire. But its a lot better if you live comfortably and HAPPY without drowning in debt.
Abcd Effg. True. We may feel happier if we can live comfortably without getting into debt. But some people may feel otherwise. They won’t hesitate to go into debt to achieve the lifestyle they want. It may seem wrong to us but if that’s what makes them feel happy then that’s all it matters. Some millionaires flaunt their wealth while some live frugally. People are not all the same. So it’s not a question of who’s right or who’s wrong. It’s a question of what makes you happy.
That is all relative. Those people may not be the most happy but they are not unhappy enough to make the tough choices necessary to give up their debt financed lifestyle. Most people tend to live beyond their means. And many poor people live a better lifestyle than the rich. It could be the reason why they’ll always remain poor. But if that’s how they want to live and enjoy life then I think we shouldn’t be criticizing their decision.
Anne Day. Thanks for your input. I think we might be speaking of different demographics. I know a lot of people who lives a very comfortable semi-luxurious lifestyle and they are quite happy even though they’re up to their necks in debt. That’s all I’m saying.
I retired at 55 , worked for a company and invested my money for 36 yrs. Im worth about 1 mil. not alot but im comfy. Home paid for , I drive a 12 yr. old Yaris ( which I love) shop at Thrift stores which I buy those over-priced shirts/pants others have so kindly broken in for me. and I watch and listen to my friends brag about their $40,000 cars, Lavish trips etc. then watch them scrape by just trying to impress... 2 have actually asked for loans , I declined them. I feel no need to impress anybody. :o)
I bet your house was under 100k when you bought it. Not the case these days. Housing is expensive, and wages haven't really been increasing. So you had it easy. Admit it.
@@fgjf1079 oh by the way, I used to work on VW bugs, Karmen Ghias, bus, square backs and fastbacks....rebuild engines for over 20 years...started when I was 13! Looks like you are a Porsche fan! We started pretty young back then!
Bob T. Aircooled cars are the best. I love the simplicity, the sound, the smell, simply everything about those older porsches. I wish Porsche never went to water cooled.
@@fgjf1079 You are making excuses for your own failure. Wages are vastly today than 30 years ago, even adjusted for inflation. There were achievers and whiners 30 years ago, just as there are today. OP was the former, and you are clearly the latter. Time to stop making excuses.
BMW=broke momma walking. I had a coworker, who didn’t make a lot of money, drive up in a new Beamer. I overheard a conversation she had with the bank and payments. It didn’t seem to be going her way.