This Is What It Sounds Like To Become a Millionaire in America | July 31, 2024)
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- Опубликовано: 19 окт 2024
- The Ramsey Show (July 31, 2024)
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Dave Ramsey & Ken Coleman answer your questions and discuss:
"How do I help my parents out of a financial mess?"
"What's the best way to combine finances?"
"How do I recover after a gambling addiction?"
"Are there pros to raising the minimum wage?"
Baby Steps Millionaires Theme Hour.
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My dad emigrated from India in 1965 and was born with ONE ARM. Over the last 60 years, he has never stopped working, and for 6 of those years, had his day job and ran a business. He's a self made millionaire next door (both cars are over 14 years old, same middle-class house for 25 years) who paid cash for both of his kids to go to medical school.
As a result, I have a very very LOW tolerance for people who make excuses for not being able to work. You can always push a broom or clean a toilet (like he AND my mom did, back in the 1970s) and in the modern internet day, you can answer a phone at a call center or from home.
Personally, it's hard for me to make excuses when, as a little kid, I watched a one-armed man mow the lawn. He's the greatest guy i've ever personally met. A real role model. Thanks, Pop!
I'm listening from ElCampo Tx. I been listening to you for six months. I'll be debt free in September 16, 2024 for my birthday Yay! Thank you for all your advice ❤
Congrats
Paid off my debt last month and the only thing I have left is about $5000 left to pay on my school tuition, I should be graduating this year. Now I just need to get my husband on board. Thank you Dave!
Thank you for your for the starter emergency fund. My refrigerator stopped cooling and I had the funds to replace it. We repaired it with a part and didn’t need to use the emergency fund. I could approach the problem from a position of confidence instead of panic.
My husband still had one year of school. Then we rented for a year and bought a house that we could afford on his salary. It worked out well.
I completely agree on their advise to join the National Guard. It has been a while for me, but I did 4 years of active duty and then joined the natuonal guard. Between the two, I made money going to college for 4 years (it more than covered all my tuition, housing, food, auto costs, etc.) Also, I think it looks great on your resume and I'm sure it helped me get my first job after college.
One more thing, thanks you to Ramsey Solutions for taking care of their military employees! My employer does the same thing, and it is an incredible benefit and a humbling support to our military men and women. Congradulations on your recent award for this. Well deserved!
Regarding the mother who thinks she can't work because of back problems, businesses local to me have or had employees with special needs, such as: one mechanic had one arm and no legs; a legally blind man did data entry (they bought a huge computer monitor to put on the office wall, and a special software program magnified the letters & graphics), a nonverbal man on the autism spectrum stocked parts, and a man with severe peripheral neuropathy was hired to pick up & deliver parts & small equipment. I'm sure there are others I don't know about. I also know two independent business owners with severe physical limitations. The work is out there, you just have to talk to employers.
1:11:27 Never had a National Guard employee, but I paid guys on the Volunteer Fire Dept. when they had to go to a fire.. They only got $50 per call unless it was over 10 hours, so I paid them as a form of community support.
I'd like to see actual data showing that when given a tax break/cut corporations routinely turn those savings back towards the consumer with price cuts OR, not discussed on the show, used to invest in their people with raises, benefits etc. I could be wrong but the last time corporations got a tax break that was the party line, consumer savings, but they used most of it for stock buybacks for shareholders. If I'm wrong about that or someone has the data I want let me know.
Amit should go into tech sales or tech sales management. His skillset would be highly valued since he’ll understand the technology and can sell and coach.
Great point. Also, huge corporations have all kinds of coaching positions.
So glad you guys highlight the millionaires! Gives me a lot of hope with so much negativity online these days.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan jane Christy♥️
Hello how do you make such monthly??
I'm a born Christian and sometimes I feel so down🤦🏼of myself because of low finance but I still believe in God🙏.
Thanks to my co-worker (Alex) who suggested Ms Christy Jane
After I raised up to 525k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸and also paid for my son's surgery (Oscar). Glory to God.shalom.
Can I also do it??? My life is facing lots of challenges lately.
I've always wanted to be involved for a long time but the volatility in the price has been very confusing to me. Although I have watched a lot of RUclips videos about it but I still find it hard to understand.
I have a heart murmur ( all my life) and a pacemaker and work 2 jobs. So many people are full of excuses why they can’t work . 🙄
I’m tired of the mental health excuses too. Good going! You’re a warrior. ❤
My dad was paralyzed on one side and had other limitations. He worked full time for 20+ years and didn’t miss many days.
Absolutely , I had a friends father who had disfigured arms as a child from birth defect , escaped nazi germany through the sewers , made it to America , became an accountant , had a family , work his whole life became a multi millionaire, SSD system needs to be revamped , to much fraud , my back hurts , ptsd , phobias enough ,if your a paraplegic or seriously mental ill , or life threatening disease , I get it but it’s the lazy victim way out for many many people , who truly don’t want to work, America needs to get the immigrant work ethic back in American Citizens , not my work/life balance is off so I cry
Lowering taxes on business doesn't lower prices, in my experience. Businesses keep the higher prices and increase their profits.
You may not be wrong, but there may be instances where prices go down.
An increased margin would enable some owners to lower prices in order to gain market share. As their market share increases, others have to lower their prices to stay competitive.
Dave is one of best inspiring people!
First caller your parents can’t retire. Their retirement plan is for you to take care of them? Just like anything if you pay you get to make the rules.
Yes, Dave. We know real estate is weird right now. You tell us every day. 😂
There should be a drinking game with key topics/phrases the Dave and Co hit each show. E.g. do a shot when Dave brings up Rachel being a baby and him going bankrupt.
@@patriciak826 yeah we'd be drunk 🥴
Great explanation guys on economics 👏👏👏👏
Congrats to Nathan and Brittany! Very impressive debt free scream!
I know that guy from Richmond, VA - he is a good man just needs some good people around him I know he will go far 💯
@40:50 Paying off your credit card in full every month will NOT damage your credit score. I've been paying my credit card off in full every month for the past 20+ years, and my FICO score currently sets at 840. Oh, and I'm debt-free... aside from the mortgage. I use a credit card because I don't want to place my checking account at risk with a debit card. I've learned that lesson the hard way. I'd rather place the "bank's" money at risk than my own money.
Every “experienced” real estate agent began as a “new” agent. As a new agent I have a coach who has over 30 years experience as well as a top class management team to walk me through each transaction.
It’s discouraging to hear Dave continue to discount new real estate agents.😢 You can promote the experienced realtor without doing so. Moreover, the experienced brokers he is referring to hire new agents everyday. Share the love.
We talked to one of the ELPs for real estate before selling my father-in-law's house and he wanted us to spend thousands of dollars to paint, stage, etc. and told us the house would never sell unless we did so. We hired a young real estate agent who only had one other house for sale under his name who recommended we have the house professionally cleaned, have the shrubbery trimmed and flower beds cleaned, and who hired an excellent photographer who maximized the qualities of the house in the online photos. All of that cost us very little. We followed his advice and used the individuals he recommended and the house sold in three days for more than $30,000 above asking price. - even with no staging and 50 year-old carpets! Yep, sometimes the younger agents are the hungriest ones.
@@Trustbutverify2651Thanks for sharing. I am looking forward to having a successful career because I genuinely care about people. Not just a commission.
@@lshel0011 Why would anyone love a real estate agent? They are evil. A necessary evil, but an evil nonetheless.
Dave is fabulously crabby. And I ❤him for it
absolutely!!
Same 😂❤
1:16:05 I currently work 55-105 hours a week, bit I had a job where tge toxicity was so bad 24 hours was a long week.
Tax our "assumptions" off. haha! Get 'em DAVE!
Where are all these at home customer service jobs they are always telling people to get "after the kids go to bed"?
Kelly.... Employment Services, i think they're called. They get you the job at a call center. When you do a good enough job, after a year or 2, they hire you on directly, you get a raise, and then in a few more years, you get the at-home offer. However, I think the at-home offer exists WITHOUT Kelly, but you have to know someone (probably) to get access.
Millions of Americans do get behind the AmeriCorps national service program which has existed for decades, a year of service at a nonprofit and you receive an education award for paying tuition or loans. The program faces defunding every few years even though it benefits communities, the Americorps members, and has a positive return in the government spending
I did the AmeriCorps for a year back in 1995. Hands down one of the best things i've ever done in my life. Got the education stipend. Got the experience. Got the connections. Also, lots of cute girls, as there is a 12 to 1 female to male ratio of high-quality altruistic people. Good girls, not club/party girls.
I am confused...if only 1% of peoplevare on minimum wage...then how can raising it cause such sweeping impacts on the economy???...to cause inflation etc??
Because most of the other 99% use the products/services provided by the minimum wage jobs.
@@timothylucas2167 all the more reason that raising min wage shouldnt make a dent in pricing...
It's not causing a sweeping impact on the economy in total. It's causing a major impact on the elements of the economy that operate on a small margin like fast food restaurants and grocery stores which have had to raise salaries exponentially. These areas used to be "starter jobs" and now folks want career-level salaries and the cost is passed on to the consumer. Employees have leverage because there is a labor shortage due to the changing demographics - younger generations have fewer people than the older generations had. Inflation is caused by other factors in the areas that hit Americans the hardest like housing - and that is a result of supply and demand and also the cost of land. Housing is so expensive now because it is very difficult for contractors to build "starter houses" because they have to build larger houses to recuperate the cost of the land. Businesses are modernizing and paying huge costs right now in updating technology, etc. which is passed on to the consumer. Insurance companies, which are NOT hurting for sure (!) are raising rates because of the enormous payouts they have made for weather-related events like floods and tornados. In addition, we are now are $35 TRILLION in national debt (more than the national debt of the four next countries combined). These are just a few examples. So, understanding the entire economy and inflation is very complex. We are heading down a path that is unsustainable. Vote outcomes, not personalities, or you ain't seen nothing yet.
Simple answer.....a lot more are making a little more than, so if you bump minimum, a business owner has to bump everyone within a few dollars of minimum too.
Typically when mc Donald’s is forced to increase cashiers pay, then management pay goes up too. Same goes for every single other company. Walmart, target, grocery stores.
+ Romans 10:9-10 "That if you confess with your mouth, "Jesus is Lord," and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you confess and are saved.
❤❤❤❤❤millionaire hour
FINALLY an enthusiastic endorsement to join the National Guard to help pay for college. A lot of us have wondered why this show rarely advises that to help allay college costs - this is the first time I've heard one of the hosts mention it as an option.
Dave used to advise going into the military with some regularity, but it's been a long while since I've heard him. The other hosts...I can't remember any of them doing so.
@@bettedavis9261 he said they used to have an alliance with them of some kind and maybe when that stopped and maybe he was getting a cut or something. They stopped doing it. It doesn’t mean he doesn’t believe in it but before it seem like they had some kind of agreement with him.
@@deb9806 Dave used to give it as an option every time someone would call in regarding how to pay for med school, dental school, etc. Granted, I've seen every episode for 10+ years, so I don't remember when he stopped doing this. And yes, it could have been when the alliance stopped, however, Dave never just said the national guard in his advice, but the military in general.
@@bettedavis9261 yes I like the older ones so if I watch any for background it’s mostly them It did sound like he plugged them earlier and got award for it They also gave 279 high schools his curriculum in 2020 instead of Ramsey footing bill
Because Toyota is the best!! 🙌
It’s Dave!🎉
Do cruises usually have a lot of add-ons? This cruise had "perks" 800-2000.00 extra depending on what it is over regular price.
Never been on one, but from what I read, yes. And some make you pay for two ppl cause rates are usually quoted at two people per cabin. So find ones that allow solo payments if you need to
I bet eating at the captain's table with Dave and the gang is one expensive perk
@@MONI-bj1ms it is and I have a feeling you’re far from alone. The 2000 for two days, 3 hours of entrée leadership seemed really high. John’s seminar was only I think 400 for marriage talk
@@deb9806I wonder what George is going to charge for his guitar playing and Jade for singing
I'll keep my $800 five-day cruise with a great stateroom to the same locations next February. I'm not a cult follower and I can get pretty much anything they're going to be saying in their books (used on Amazon) and on the CDs from the musicians. No interest in actually rubbing shoulders with them.
The way Dave said “I pay my credit cards off monthly or I don’t use them”. Sounded like he has credit cards but I think he just meant in general if people do this
Personally, I'm never cutting up my credit cards. I pay them as the bills post and don't wait until the end of the month. I'm still a bargain shopper and I like the fact that all my spending is tracked on my cards so I can go back and review spending. I lose track with cash. I can do the same with my debit card, but that doesn't give me any perks. I get enormous benefits in perks and it's not my problem if other people are irresponsible.
He shouldn’t even have credit cards. He’s a multimillionaire and that’s how he can afford to pay off his credit cards monthly.
I got that vibe too
@@dizzysfanhe doesn't. He has said he has more than 1 debit card
question on net worth millionaires? is that per individual or family?
Amy from Texas was on the Millionaire hour before, meaning they can't find new ones.
Dave you look good!
Love this duo and the rant on economics.
School is expensive because of the government subsidies for it
No School is expensive because students make stupid choices and don't consider the financial ramifications of their choices. Choose a rigorous and demanding high school schedule of classes. Self-study for CLEP tests to cover gen-ed classes in college. Start at a community college. Choose a state college that accepts your CLEP credits. Apply for scholarships. Choose a college with a cooperative program to graduate with work experience and no debt. Join the military to pay for college. Choose a major that makes you employable. LOTS of ways to make college affordable if someone wants an education rather than just the "college experience" otherwise known as partying, nice dorms, a fancy gym, attending popular sports events, and enjoying the best food courts. If you just want those kinds of experiences and to get away from home, get a job and an apartment and don't foolishly rack up student loan debt. (Also, don't accept easy answers and play the victim while blaming "the government.") Choice determines your future and your destiny.
I agree that the government contributed a great deal to the rising cost of college.
If there were no government backed student loans, and all student loans were subject to bankruptcy, the colleges wouldn’t have been able to increase tuition at such a high rate.
Millionaire Theme Hr is the best!
My parents won’t listen either and I won’t impose.
Dave is so funny : You counting pills ahah
2004 Honda odyssey and 2006 Honda Pilot
The millionaire theme hour is the best part of the show!!
love the millionaire segment.. wish there was a single female LOL
I wish there was a bipoc disabled trans ramsey personality.
Not likely
By far my least favorite - never listen to that segment.
Please do a clip covering just the political question that was read here about minimum wage!
Dave thinks pharmacist just count pills? 🙄😵💫
I know, that drove me nuts!!! As a pharmacist, it made me want to skip my debt free scream since he obviously thinks it’s such an easy career. 😭
I also wish he had asked her how much her loans were. Only working 32 hours/week, I’m not sure how she paid the loans in 18 months. I’m working two jobs and it’s still taking over two years to pay mine off!
Math? yep and corporate execs making millions might be a factor???? inre: minimum wage!
I have a question
If you don't spend any money on yourself, you drive an old car, you buy cheap clothes and save it to be a millioner when you turn 70. What's the point? Suffering and working your entire life to be a millioner when you're old???!!!!!
I was working at a bank, and an old man with cheap clothes was coming to deposit $20 every week. I was feeling so bad that I wanted to deposit some money to his account. My colleague showed me his savings. He was super rich! I still don't understand why people think money is so holy and they should feel guilty if they spend it???!!😂😅
i never understand this question. I'm a doctor, myself. I drive an old car and have cheap clothes. I did this before medical school, during medical school, and AFTER medical school. Do people think old cars and old clothes are SUFFERING?
Have you SEEN suffering? Suffering is liver failure and pediatric cancer. Have you visited Trinidad and Tobago? They make 1/6th of our money and take walks in parks with their dog, have barbecues with neighbors and go to free music festivals. It's a second world country with very few BMWs and NO Corvettes or McMansions. Happiest people i've ever met.
What is it you think money improves about your happiness? I HAVE money and I'm just as happy broke at 19 and 29 as I am not-broke at 51. At 25, my poor girlfriend and I made sandwiches for picnics and took road trips in our tiny crappy car halfway across Texas. At 51, I still do this, but now I have a dog, too.
I'll tell you what IS suffering in regards to money: being 70 and NOT HAVING SAVED money so you're FORCED TO KEEP WORKING. Being 70 and working when your arthritic fingers hurt, your knees throb, your hearing is diminished and your hip is worn out. Being 70 and feeling TRAPPED by poverty, hoping family MIGHT have enough money to help you out and/or being too proud to ask.
What money at 70 is, is FREEDOM. It's DIGNITY at an age when the world forgets you. Aretha Franklin died at 76. She used to be the "Queen of Soul" and the ultimate A-list entertainer. Where? When? Do you know? Do I? No. Top of the world when you're young, but "who are you?" when you're old.
Suffering POOR at 25 is NOTHING campared to suffering poor at SEVENTY FIVE. At 25, it's an adventure to get through. At 75, poverty is a heavy chain around your neck with Death on the other end. Sadly, i've seen both rich and poor die of old age at the hospital. Money at that age is like night and day for quality of life.
Money is the gift the of freedom and dignity you give yourself, while young. No one else will.
35 with 3.1 million.
Dave makes a good point. Years ago, my grocery bill $50 monthly. I used to buy kale $0.99. When the price of kale went up $2.49, I paid $50 a month just for kale. So I planted kale and they grow like weeds in my back yard. People don't really understand how the economy works, and they get manipulated by politicians. The bible says, "My people are destroyed for lack of knowledge: because thou hast rejected knowledge,.." Listen to Dave. Get Wisdom. Get knowledge. Otherwise, you will be DESTROYED.
I didnt know that about Kale. I'll give that a try. Thanks
Please more George ❤
An hour 43 minutes in the young €30 ain’t been on the planet long enough to make those minions man no way don’t work. The timeline does the timeline does not work!
Why not..move to smaller rental place... sell house to son ..son moves in repairs makes rooom for them...to return later on really old age ..and be paid to recoup repairs and improv....win win for all ..BUT USE LOVE ..first and then a CPA ..HIRED!!
I love the millionaire theme hour!! Dave & friends, do you think we have enough Deca-millionaires to fill up an hour? I would love to call in or listen to other high net worth Ramsey followers.
I’d love to hear stories from more Ramsey followers like myself who ascended to $10M+ net worth. Many of them would have amazing stories of rental empires & businesses. I have so much excess because of hard work and applying Dave’s principles. I have heard whispers of them planning a deca-millionaire theme hour, hoping it comes soon. 😁
@@super1234567891011I would like to hear it! My husband and I are on that trajectory but feel like pulling our foot off the gas because we just can't imagine managing or utilizing all that wealth. Trying to decide how much we really want to save. Saving 15% as a high earners (with no debt) gets you to some pretty frighteningly high numbers quickly. 😂
@@super1234567891011 Why? Just so you can brag? Booooooooooooooring!
Buy new car or used car?
Thank God no Deloney
Um...if you retire early and/or are on disability... You can only make about $1000. A momth or you will lose your disability. Also most peopl with bad backs can NOTsit for more than 10-15 minutes without excruciating pain. But yes... She needs to be bringing in some money...even if it's just 500 bucks a month would help.
There are convertible standing desks. There aww desks that will allow her to work from bed. She can work.
Ken, I think we'd all like to know WHERE it is in the Constitution that says the states have to balance their budget??
He should have said it's in their state constitutions, which is likely what he meant. These are called the BBRs - Balanced Budget Requirements. However, in general, this applies only to the operating budgets and certain areas like capital and pension funds are exempt (which is one of the reasons Illinois is in a disastrous mess with its public servants' retirements which have to be paid before anything else can be paid out of the budget.) Many states are tens of billions of dollars in arrears in their pension obligations. 45 states require the governor to submit a balanced budget to the legislature; 44 states require the legislature to pass a balanced budget; 41 states require the governor to ultimately sign a balanced budget; and 35 states require the budget to be balanced at year-end (that is, the state cannot “carry over” a deficit).
Who likes listening to the millionaire segment ? 🤔
@@pennybentley5125 I'd like the return of the "I'VE HAD IT!" moment. A few years ago, they dedicated an hour to call-ins about that. It was fun.
@@pennybentley5125me!!!!
@@myoldvhstapes Yes !! Sounds good I would love a segment they get callers back on and see how they are now 😊
What does Ken mean ""people like me finally get to say, it's not fair?" Be careful!
Huh?
Ken cant say certain things? When did this happen? Did they repeal the First Amendment? Is there a list of things i'm not allowed to say? Is "people like me finally get to say it's not fair" on the list? Can i say these words in a DIFFERENT order? or is it against the law to say it THAT order? Can I say "not fair?" Can I say "fair not?" Where did you get the list? I need to get my hands on it before......i guess, before something bad happens to me. I better be careful.
He meant people who paid off their own student loan
Anyone on SSDI cannot make extra income without losing their benefits and then they are stuck
You can earn a certain amount without jeopardizing your benefits.
@ladonnagreene9565 There is SSD and you can earn a little. SSDI you can't earn anything extra or you become ineligible.
NO one is stuck. Choices abound. Community colleges are begging for students for grant-funded programs that lead to good jobs. Anyone with a low or modest income would have all costs covered by Pell and other grants. Choose well and don't play the victim card.
I think right now you can make up to $1,500 a month or somewhere around there. Which can make a big difference for some people.
@@ambethk77 Amber, on SSD or SSDI?
I empathize with those struggling to understand digital marketing, especially during these uncertain economic times. With the dollar's volatility and cryptocurrency's growing prominence as a universal currency, it's essential to stay adaptable and informed
Hearing it last week got me scared so I agree with you! Investing puts money to work. The only reason to save money is to invest it
I think Mendy Alissa strategy is the best at the moment, I recommend it for beginners because it is perfect for now and it is known
This is correct, Mendy Alissa strategy has normalized winning trades for me also and it's a huge milestone for me looking back to how it all started
I have been seeing lots of testimonies about her. She must be very good for people to talk so well about her
I remember giving her my first savings $4500 and she opened a brokerage account for me it turned out to be best thing that ever happened to me
O boy....10 minutes of politics already? Save it till October at least plzzz
you need to have Trump on your show.
That would be amazing
Hell no
The number of political candidates worthy of listening to is exactly zero.
It’s not going to happen 😂
@@amireallythatgrumpy6508amen!
I love big Daves ego! Its bigger then his bank account. He likes to keep his punk co host on a nice little leash.
Grow up