Americans Need To Earn $$$,$$$/Year To Feel Rich? (w/Ken Coleman)
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- Опубликовано: 22 июл 2024
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Americans Need To Earn $$$,$$$/Year To Feel Rich? (w/Ken Coleman)
Today is a BIG day because we have our very first in-studio guest: my friend Ken Coleman. Ken is a best-selling author, speaker, and host of The Ken Coleman Show. He helps people find work they love, and make good money doing it. And he’s here today to help you learn how to increase your biggest wealth-building tool-your income.
Links:
Ken Coleman’s Website: www.ramseysolutions.com/ken-c...
George Kamel’s RUclips: georgekamel...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
I was working for a company a while back and I demanded a raise. I definitely did it wrong! My boss didn't give me a raise and he ended up hiring my replacement for $18 an hour!!! I was making $25 an hour. Fast forward to a year later my ex boss called me to work for him again, his new guy was too green no experience but I landed a 6-figure job and said sorry, man. Plus, I enjoy and love my new job now! 😊
Speaking of fair compensation, give George a raise!
They did! They raised his spirits!
While I agree with alot of things the guest said, wages have not kept up with the cost of living before or after the pandemic.
Agreed especially for those still renting like myself
Ramsey is a landlord right so he can just increase the rent and allow for "hood rich" people to come and buy access while expelling the poorer ones. They all know some of this is a math issue but none of them want to say it. Clowns will be clowns though.
Yes and that wont change. Stop crying and learn some new trade or leave your company for another (if youre in the corporate world)
@@Diabolica843 Telling people just to switch jobs is the easiest suggestion. Trying to switch jobs and careers is way more expensive and difficult than just a suggestion.
@@Diabolica843 Oddly enough I did about fifteen years ago. I wasn't crying about it, just making an observation.
Myself and my wife are 20 and 21, working on baby steps 4-6. I'm a freelance videographer, and although the month to month pay is all over the board, I'd say I'm on target for $75k or $80k this year. And the kicker: I absolutely love what I do! Praise God!
Thanks for all the info and laughs Ken and George!
That's awesome! Congratulations to you both!
Well done!! 👏 👏 👏
Wages are not at an all time high when adjusted for inflation; not even close. So the number on people’s paychecks are higher, but purchasing power (which is all that matters) is lower. This is particularly true for jobs that don’t require a college degree.
Do you have data to support that? What year was better? I’ve heard that assertion several times but when I pull data I don’t see that. Regardless the point was people spend too much which is totally true. Everyone makes plenty to have financial success but it takes them managing themselves and not complaining about things they can’t control.
@@johnfreitas8516what data are YOU sourcing your opinion from? The federal data doesn’t agree with your opinion
@@barexampasser Let’s take 1993. Relative to household income, car prices are fairly flat and houses are about 7% more. That 7% makes sense because of higher population in dense area means price inflation due to demand. I don’t know what government chart you’re looking at. I can’t find anything that says otherwise. You can also search US average real income and find a chart from 1975 to 2021. The chart I found adjusts historic numbers to 2016 value. The highest values are at the end of the recorded data. 2021 had a slight dip due to COVID but all numbers are way, way up since then so they are right in the video.
@@johnfreitas8516if you look at the bureau of labor statistics’ “more ways to look at wages and inflation” you’ll see that when adjusted for inflation, wages on average are flat/falling. Breaking it down further, if you look at the Economic Policy Institutes’ “wage stagnation in nine charts” you’ll see that wages have gone up for the very wealthy and for those with advanced degrees, stagnated for the middle class, and gone down for low-wage earners, again adjusting for inflation and purchasing power. (Sorry I can’t link directly; I tried and my comment was nuked.)
That said, I think we basically agree - most Americans could live on less than they make, and they should. But it is simply false that wages are at some great all-time high in terms of real purchasing power. That makes sense when you see so many people working second jobs, side hustles, etc. (which are a good response to the problem!) and people not able to afford houses as young or as easily as they used to with low-skill jobs.
Sorry sweetheart, but none of it matters.
This was HILARIOUS. Great job -- Im glad Ken is letting the fun in, he's often too serious on the other show.
Love a good discussion about earning transparency.
I work admin for 50k a year in a large mid-west city. I do have a college degree (finally debt free) that was required for the job. I don't "love" the work I do day in and day out, but MORE IMPORTANTLY, I love my coworkers, supervisors, and office environment. After years of over-working, being treated like crap, and loosing my mental health at other jobs, I've finally found a job that fits my life and keeps me sane.
My advice: DON'T SETTLE. Once you know an office isn't going to work, log what parts of the job/environment don't align with your needs, and move along to a place without those things. You'll find that "right" fit eventually.
Relatable! I'm happy with my career and salary, but I think I'm in need of a change soon. I will start to log the parts I like and what needs improvements. :)
I'm 19 and work as a barista. I make approx $25 per hour when you account for tips (pre tax). This is more than enough for now as I'm a college student and don't have many expenses. I invest 70% of my paycheck into index funds. I think it'll be a huge head start for me financially.
Great show George and Ken. My 1st job was $3.10 per hour as a janitor. Retired Army Engineer Currently $193K a year. Work ethic is the key.
I agree with people overspending. So many buy things, car payments, travel often, go to restaurants on a continual basis, and spend like no one else, then they complain that they don’t make enough to buy a home!
If you’re a nurse or teacher we DO HAVE AN income problem
I really appreciated the comments on how to get a raise.
It’s my 5th year of my employment at the same company. I’ve realized it’s not about the money when talking to the managers. It’s about performing consistently, day in and out. And also just showing that you are happy and willing to go above and beyond. When you start conversations with how great things are vs I need more money, the outcome just ends up better.
I have an interview on Friday for a new position with a lot of responsibility. Looking forward to trying to make a larger impact within my business unit!
Yeah, that works well until the easy promotions are done. I went from intern tier to senior tier over about 8 years with consistent promotions and pay raises along way, and then hit a bit of a wall.
During that time I had no desire to switch employers as people tend to talk about doing to get more money, but after running out of promotions and easy pay raises the income growth has stagnated and employer hopping is looking better over time. Except I'll probably just retire instead of getting a different job.
The biggest raise I ever gotten was by getting poached by a rival company! Went from 28 to 35. Good luck on the interview, I’m sure you’ll get a raise that way
I’m an accountant working for a nonprofit that uses federal grants. I make $55k annually and work a flex remote, in office schedule. It is enough since we are on the Ramsey plan (in steps 4-6) and on the side I am working on developing a business that will one day become my full-time gig. Ken helped me get clear and I am just getting this thing off the ground. Building the habit and implementing it intentionally into my schedule.
Dude. I remember my first few years out of college I was so invested in trying to get rich, made lots of mistakes.
Now I just hang out on RUclips watching George freaken Kamel!
George Freakin' Kamel!
Sounds like a show!
George is such an asset to Ramsey. This was awesome! 🎉
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@priscy_kk However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@priscy_kk Judith Ann peace is her name
Lookup with her name on the webpage.
@priscy_kk You are welcome
By far my favorite video of yours. So creative! When you "said word-watching," I thought it was gonna be cringe, but the dynamic between you and Ken was so phenomenal.
I need Ken's energy to be more like this on his show.
I would like to share with you my personal experience about investing, everyone needs more than there basic salary to be financially secured. The best thing to do with your money is to invest. Money left in savings always end up used with no returns. I started investing in the financial market mid March, 2021 with the help of a well-known professional and have just bought a home. it's really amazing
You may eventually be able to gain financial independence or build wealth through investing. But neither of those things can happen without first understanding where your money is going and learning better ways to use it.
@@jameshubert5267 You are right, *BRIDGET MARY TUROW* is the best broker out there. She grew my portfolio to million-dollar bills from almost nothing. Just google her name and you will find her web site to know more about her service.
The best thing that has happened in my life is working with BRIDGET MARY TUROW. I haven't just attained financial freedom, I have gained a lot of power in the knowledge I have acquired from her. She is highly recommended.
@@donnabrannan1448 Thanks, I just googled her and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
I just checked out her name online and her page is impressive. I left a message for her. thanks
Younger people want their parents lifestyle right away. What they don't realize is that it takes years of hard work, saving and sacrifice (among other things) to get to that point. The point where it took their parents 20 or 30 years to get to today. Most of the time, this lifestyle doesn't happen in your 20s...so they go into debt to get it... because they want it NOW. That's why they feel like they need so much to 'feel' rich.
Welder and fabricator here, ball park of $70k a year in the Midwest. I could weld elsewhere for more money but I would be away from home. My cousin WAS and underwater welder and was make around $150k but is so specialized and political apparently that he went back to college and learned to code instead.
One major with problem with specialized jobs is they can be hard to find anywhere
That was rather entertaining.
Well done, Gents! 👏🏼
Beyond brilliant both of you! Thanks for the info and support!
I’m not underpaid. I’m under skilled
Biggest eye opener
That opening 😂 Get Ken back on here immediately!
Can I just say.. this is one of THE best episodes from a Ramsey personality that I’ve EVER watched!!! Love you guys and your content and keeping it fresh and fun 😊
Being stuck in survival mode for so long, my husband and I would honestly be sitting pretty with a 30K USD combined income. Both of our bodies are broken to the point of not being of any value to an employee so we can't pursue or maintain employment in the traditional sense. Disability benefits are about 18.7K USD for the both of us. It sucks that it's only been the past year I've gotten interested/more educated about personal finances so I have to grieve for the life that I squandered away when I could have worked (I've had serious self-confidence and self-worth issues stemming from childhood/early adulthood trauma and I self-sabotaged a lot). The only bright side is that there's zero debt and we keep our lives excessively simple to the point that we can fulfil all our monthly financial obligations in full and on time and have now been able to squirrel away some cash in an emergency fund. I wish there was more advice for people in similar situations.
Such a good interview. Informative and entertaining!
What an awesome video! Way to go, Ken and George!
Ken Coleman making a yacht pun was exactly what I needed! Thank you for making my day!
I laughed so hard when big bird broke down the door
George is a nut. I love his seething sarcasm. This one was hilarious, too!
I didn’t even plan on watching this whole video, but man its funny and probably one of the best ones yet. Great work George and team. Thanks for the laughs and entertainment/info
Great format, please do more!
Great show! I love it when Ken and George are on together. Ken and George are each funny people, but together they are hilarious. Laughter is the best medicine.
Love George and Ken! Great duo!
I loved this episode. I wish I could get my younger coworkers to hear this type of messaging. Even though this is their first full time job, many of them think they deserve to be paid at the same level or higher than those of us who have been working our way up the ladder. I work in member services (customer service) for a health care plan in Maine. I have been in this field for over 20 years. I have worked in larger corporations where the culture was toxic. I made the jump 8 years ago to a smaller not for profit plan that serves military retirees and their families and it has been amazing! We have had several independent market surveys done and our pay is equal to or higher than the 5 other health care carriers in our area.
It was nice to have Ken on this one on this topic 👌🏾💕
Hello Geroge, I enjoyed the new format, thank you
Definitely one of the best segments you put on your channel!
Great Video and Thank You Ken for your words of wisdom.
Came for the interview, stayed for the word watching lol
The funniest duo at Ramsey Solutions handsdown! Love these guys. They are the best😂
LOL!!! You guys together are hilarious!!!!
I’m a postal clerk, I make enough and I love the job( not the place, but my coworkers and the job we do.)
The Dynamic Duo! I love when you two work together. Keep up the good work.
OMG YES KEN!!!!! HAHAHAHA. That intro was so good and funny.
You can just tell they're besties 😂
Subtractions - Insurance, Housing, Education, Inflation (7-10%) - Food- You're left with MORE debt than ever if you are middle income....
Loved this set up! Hope to see more in the future!
Love this episode! Very between the 2 ferns feel to it! Informative and hilarious as always! 👍🏻😂
I work as the office manager/secretary at my daughter’s private Christian school. My boss and principal was my principal for 13 years at my private Christian school growing up and even married my husband and I 12 years ago after we met and started dating in high school 9 years prior. I always said he was like a second father to me since I felt like I was with him more than my own parents through my school years. Lol. I love my job and am good at it. It’s very stressful as we have lots of jobs we juggle being a smaller school, but I feel like I have purpose being there, and this is the first job I’ve had where I felt that way and that it’s more than just a paycheck. I’ve gotten a raise every year (just got one today actually) and love that I am off for holidays when my daughter is. Unfortunately, her special needs twin brother is not at school with us and instead in our local public school where he receives services we cannot provide in our private school setting. Sadly, our school system is ranked 47th in the country and the sped department lacks in a lot of ways, but this is our only option at the moment for him. 😢
The word watching thing is entertaining. Not sure I could have kept a poker face for some of those. Nice job. I also learned something valuable about how to ask for a raise properly. Thank you!
I am a senior software dev at an insurance money, just hit six figures recently and I think it is enough especially living in middle of nowhere Wisconsin. Have a nice house, about an acre of land and everything is so cheap around here. I am also full time remote so don't need to waste money on gas and driving to work daily.
This was too fun/funny!! 😆 good job fellas 👏
I am an Indirect Tax Manager, I make 128K and yes it is enough. However, lifestyle creep is always lurking, stay vigilant my friends.
Thank you for sharing a healthy message
word watching had real "between two ferns" energy
Love these two!
Thank you for this video and about the jobs interview process. I learned as well.
I love that someone in your production team listens to the you betcha podcast.
Great show! You are at 59.9k subs as I write this, so will go ahead and say congrats to you and your team on 60k!
This is for sure my favorite Ramsey show!
Word watching was hilarious! Being it to the live events!
Do another one! These are great! I’m getting distracted by the words, but I’m remembering the information so it’s all good!❤
There absolutely is an income problem in the US. The price of housing is outpacing salaries. Yes, income is at an all time high, but income never goes down. If the average person made $2 per year more than last year, then that too would be "all time high" wages.
Loved segments in this episode
The one thing I love and hate about Federal Employment is the consistency of pay raises and promotions. Its nice cuz you know its coming but there is a ceiling and you can only go so far.
Unless you're a congressman or governor...then you get u limited access to tax payer.dollars
Ken Colemans Resume builder helped me land my current job.
Nice , congratulations 🎊🍾🎈 If you don’t mind me asking … What field did you come from and what field did you land in?
I’ve been a medical coder for Franciscan Alliance (hospital) for just over two years and I make $22.92/hour. Full-time, benefits, work from home.
I get a raise every year so I’m ok with what i make. More would be nice so i can have a bigger shovel for my debt. 😊
George makes Ken more fun!
That was fun!
This has been my favourite episode so far. I don’t know how to do your DM thing to get the book, but I’m very interested in it.
This game of special words to use is genius haha
I love you guys together! This was so helpful! I'm working on getting a promotion using Ken Coleman's suggestions......we'll see how it goes!
Ken was killing those words !!!
Vineyard Vines 😂 love the New England reference 🐳
My wife and I run a phot and video business. Our best year was 75k, but we hope to break 6 figures soon!
This was AWESOME! Laughed so hard!!
Dang, Ken is good at that word sneak!
Holy crap Ken is good at that game
Thank you for finally mentioning the low income earners like me. you even went lower than I was estimating.
This was funny and insightful.
This was absolutely amazing! George and Ken are the BEST duo!!!
This is too good.
That’s what happens when, generally, people make more money. The job they’re doing is still worth exactly the same as what it was. So the buying power doesn’t go up. Of course. If you want more buying power YOU have to move up. The job never will. If youre in fast food and you get a million dollars an hour. Thats the new fast food wage and your buying power will stay exactly where it is.
You are seriously hilarious George!
You need to do the word watching game with EVERY interview. And maybe poll your audience for what words to use?!?
There is also nothing wrong with doing some information gathering first, figuring out what everyone else makes and asking them directly, then going to management together. Or even form a Union.
12:45 A candle made of wax? George has all the great ideas today lol
While I agree with some of what they said. Wages have only grown well for the past 3 years or so. Housing, healthcare, and education costs have been growing logarithmically for the past 3 decades or so which negates any short-term wage gains. And those issues can’t be just solved by working on ourselves
This was great
That bird watch of Dave was hil.ar.i.ous.😂
I'm one of the few that feel I'm paid rather generously for what I do in my occupation, and I work for a grocery retailer
Reminds me of Ramit Sethi's way of asking for a raise. How do I become a high performer, and when I do become one, what can we do adjust the compensation fairly?
Word Watching was amazing lol
This was fun❤
“A rep for Vineyard Vines” absolutely dead 💀 😂
It’s always a good time for a root beer float 😊❤
I loved it 😂
George breaking out the creative side haha.... this was neat
Ken is that man but just for today usually it’s George.
Hysterical!