How To Become a Millionaire ASAP
💵 Create a free Budget - Sign up for EveryDollar today! ter.li/ubldyt
About this episode:
I talk to a lot of people wanting to become a millionaire, like, yesterday. So in today’s video, you’ll get a realistic idea of what it takes to reach $1 million in net worth as soon as possible.
Next Steps:
✏️ Side hustle quiz: www.ramseysolutions.com/savin...
💰Prepare for your future with a SmartVestor Pro: ramseysolutions.com/smartvestor
▶️ How I Went From Broke to Millionaire in Under 10 Years: • How I Went From Broke ...
📗 Order George Kamel’s new book, Breaking Free From Broke. bit.ly/48d7So4
Offers From Today's Sponsor:
This episode is sponsored by DeleteMe. 🔒 Remove your personal information from the web at www.JoinDeleteMe.com/George and use code GEORGE for 20% off. 🙌
Listen to more from Ramsey Network
🎙️ The Ramsey Show ⮕ ter.li/nrgexc
💡 The Rachel Cruze Show ⮕ ter.li/gyh9k6
🍸 Smart Money Happy Hour ⮕ ter.li/ruezqk
💸 The Ramsey Show Highlights ⮕ ter.li/yc3i4v
🧠 The Dr. John Delony Show ⮕ ter.li/sii4ha
💼 The Ken Coleman Show - Highlights ⮕ ter.li/nbekmn
📈EntreLeadership ⮕ ter.li/81tcjn
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
Пікірлер: 432
I am a senior citizen and I believe that no one can become a millionaire overnight, it takes years of smart not hard work, time management and the right investments. Every year you don't invest you simply fall a year behind and I say this from experience.
@Higuannn
Ай бұрын
This are some of the many reasons why a few Neighbors at the Bel Air Area, myself included use financial planners. It is difficult to combine work and investments.
@Angelavaldess
Ай бұрын
@@Higuannn It’s important to consult with a financial advisor before making any investment decisions. My two cents.
@Jaymilnere
Ай бұрын
@@Angelavaldess I think that is a brilliant idea, I tried managing my stock portfolio by myself and I lost 50% of my savings in a very short period. That prompted me to hire a financial advisor. Since then I have made up to $680K in returns.
@DanielPanuzi
Ай бұрын
@@Angelavaldess I'm glad to have stumbled on this commentary, How can i find a decent advisor, It has been very challenging?
@Jaymilnere
Ай бұрын
@@DanielPanuzi Sure, Alicia Estela Cabouli is the licensed advisor I use. You’d find necessary details on the web to set up an appointment
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
@user-qq5fy4nh8v
Ай бұрын
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
@KateShawn-jv6wh
Ай бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@RobertFarley532
Ай бұрын
Mind if I ask you to recommend this particular coach to you using their service?
@KateShawn-jv6wh
Ай бұрын
Leticia Zavala Perkins, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
@AngelMark-mk5sv
Ай бұрын
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
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.
@Tyrell-rr
2 күн бұрын
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@DIANNE-g
2 күн бұрын
@@Tyrell-rr 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
@Tyrell-rr
2 күн бұрын
@@DIANNE-g Oh please I’d love that. Thanks!
@DIANNE-g
2 күн бұрын
@@Tyrell-rr Judith Ann peace is her name
@DIANNE-g
2 күн бұрын
Lookup with her name on the webpage.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.
@GregoryBingham-us
Ай бұрын
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
@BobPage449
Ай бұрын
She is my family's personal broker and also a personal broker in many families in United States, she's a licensed broker and a FINRA AGENT in United states
@MathewDawnson
Ай бұрын
You trade with Michelle Stewart too? Wow that woman has been a blessing to me and my family.
@AdamMontoya332
Ай бұрын
I'm new at this, please how can I reach her?
@Jerrypopmno
Ай бұрын
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
I've been keeping a substantial amount of my savings in cash. It feels safe, but I wonder if it's the right approach for retirement. I want to invest roughly $400,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?.
@ApBurger3532
Ай бұрын
With the current low-interest rates, your cash is losing value due to inflation. It might not be the best way to grow your retirement fund You don't have to put all your savings in the market either. It's about finding the right balance between safety and growth. Consider consulting a financial advisor to create a retirement plan that aligns with your goals
@blind_luck_
Ай бұрын
When you hold cash, you miss out on potential investment opportunities in the stock market, bonds, or other assets that could yield higher returns over the long term. Having an advisor assisted me in saving up to $3 million for retirement.
@ItPhenn
Ай бұрын
I get it, but I'm concerned about risk. What if I lose my savings in the market? Please who is this advisor that guides you?
@blind_luck_
Ай бұрын
Jill Marie Carroll is my advisor; she can help tailor your retirement plan to your specific needs and risk tolerance. Look her up online to get in touch
@blind_luck_
Ай бұрын
"Jill Marie Carroll" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I picked up woodworking as a side hustle, it's going so well that I'm making it into an LLC as we speak. Thank you for all the awesome tips and advice, my finances have never looked better!
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
@kurtKking
Ай бұрын
well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
@Kaustavpatell
Ай бұрын
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
@Benedictrud
Ай бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
@Kaustavpatell
Ай бұрын
Actually its a Lady. Yes my go to person is a ‘MARY KALIOPE BRAUN '. So easy and compassionate Lady. You should take a look at her work.
@Benedictrud
Ай бұрын
i am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I hit the millionaire status at 54. It took me 26 years. Yes it does take time.
@grahamcarmichael6567
Ай бұрын
Nice. It hit it at 53 and it took me 25 years. We all have our own timeline.
@cashflow68
Ай бұрын
@@grahamcarmichael6567 congratulations! Btw I don’t include my primary residence as part of my net worth unless I wanted to sell. So my millions are just passive investments.
@johnplg2586
Ай бұрын
Any advice you would give to a 23 year old trying to achieve this?
@cashflow68
Ай бұрын
@@johnplg2586 live below your means and invest. Investing takes patience
@tyguy070
Ай бұрын
@@johnplg2586to follow the advice in this video 😊
Thanks for calling out MLMs George!
My wife and i net worth was 62k april 2020. Just hit 550k this week
@Chloe_emm
Ай бұрын
The market took a big dive before April, 2020 that hasn't been seen since 2009,The key to financial stability is having the right investment suggestions for a diverse portfolio.
@Starkham
Ай бұрын
Where did you invest? I'm just trying to learn where or how do I begin so I can start the journey of compound interest. I am 24 and have saved some money, I just do not know clearly where everyone seems to know to put their money. It just says S&P 500 but I don't understand what that means
@StephanieHenderson-
Ай бұрын
I'm 33 just got out of debt I might be behind compared to my peers I'm not happy but satisfied that I’m debt free only want to focus on investing I would appreciate if you recommend your advisor for the right knowledge.
@Maguirehook
Ай бұрын
Have you not heard of Amelia Jason !
@WilliamsJohn-01
Ай бұрын
You know her too ? I'm also a proud beneficiary of her superb platform. There are the biggest custodians. I also would not be asking investing advice in the KZread comments. 80% are scammers.
“This is how wealth is made”
@svenoliver6040
Ай бұрын
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
@svenoliver6040
Ай бұрын
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.
@svenoliver6040
Ай бұрын
For more lnfo
@svenoliver6040
Ай бұрын
FinanciaI-PIanner Rebecca Mart-Watson (in fuII)
Buy a good cross section of an economy, Build a diverse portfolio that keeps you motivated,Speed up the process where possible:i'm all for dividends and i DRIP into etfs (ARKW, VOO, VXUS, IVV) and company stocks. After my first million I realized that when a stock starts booming chances of you finding out means you are quite late to the party, for this I make sure my CFA handles that, ever grateful to Anna Rounds Fay.it's like turning your notifications to earn more millions.
@taylorgreen5908
Ай бұрын
Smart, I must commend you because etfs will keep making you solid profits through compounding while the other stocks pays monthly although advantageous you must've started big
@oliviarenereyes
Ай бұрын
Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@stanleyfujiwara1394
Ай бұрын
Hey, I'm in Qatar. Wondering if the stuff you recommend is USA specific or does it translate to other western countries?
We’re halfway there at 34 after 7 years on the plan. On our way to go buy a van for cash for our soon to be here 3rd baby while continuing to invest in our retirement on one income.
Single, slim, 42, millionaire guy here. He's spitting facts. I love the feeling of no debt whatsoever.
@TommyGunzzz
Ай бұрын
married, fat, 24, billionaire here....
@sethjenkins-jg2vv
Ай бұрын
Respect!
@BigJohnM
Ай бұрын
Married, 3 kids, 43, lethargic here. I am not a millionaire but I will be, following the advice of Ramsey solutions. Yeah I feel like a bot right now but life is good. When your money makes you money it is a sweet thing.
@jeremiahm1413
Ай бұрын
Are you me? Am I you ?? Well, all but the millionaire part ~ $400K or so. But NO debt, so it's building up fast now!!
@dcamnc1
Ай бұрын
Unborn, zero pound, billionaire here. I love the feeling of being superior to everyone.
A revolutionary development in the cryptocurrency space, the launch of a Bitcoin ETF combines digital currencies with conventional investment strategies. This invention has the potential to raise demand and value for Bitcoin by stabilising its price and making it more appealing to a larger group of investors. Sarah Jennie Davis, whose profound knowledge of cryptocurrencies and conventional trading has proven crucial, is at the centre of this evolution. She is a priceless ally in navigating this new era of bitcoin trading because of her all-encompassing approach to investing and dedication to remaining current with market trends.
@jonesfrederick1228
Ай бұрын
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)
@godongod2752
Ай бұрын
How please I'm pretty new and feel I have much to learn, I would appreciate if you show me how to go about it?
@anthonymorrison6557
Ай бұрын
She is really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto investment
@KevinBrian-py5mn
Ай бұрын
I have heard about her excellent trading expertise in CNBC news, guess she's more popular in United States
@hunnycundiff6835
Ай бұрын
YES!!! That's exactly her name (Sarah Jennie Davis) so many people have recommended highly about her and am just starting with her from Brisbane Australia
Achieving success hinges on the steps you actively take toward it. Accumulating wealth involves cultivating positive habits, such as consistently setting aside money at intervals for robust investments. Financial management, often avoided by many, can later become a haunting issue. My hope is that anyone reading this finds success in their journey!
@SeanTalkoff
3 күн бұрын
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.
@tmer831
3 күн бұрын
I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks.
@DavidCovington-st2id
3 күн бұрын
financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.
@tmer831
3 күн бұрын
Hello Dave, How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@DavidCovington-st2id
3 күн бұрын
My CFA ’’ Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!
We were Dave-ish until three and a half years ago. Once we stopped being Dave-ish my wife and I have seen our net worth more than double.
Great discussion on the realistic timelines to wealth accumulation! It's crucial to remember that while there are quick wins, sustainable wealth typically requires a long-term strategy and disciplined financial habits. Staying patient and consistent is often more rewarding than chasing quick riches. 👍
As a French bull dog owner. I agree, but Maverick still is priceless to me.
Im surprised when discussing increasing income you never mentioned moving companies. I doubled my salary by doing this. Thankfully Im in tech and this may be more realistic in my field. But definitely consider moving jobs. My first salary was 55k then I left that company for 110k salary at a different company. Doubled salary in one hop. Then a few years later I went from 120k to 170k by switching companies again. Shop around for employers. Sometimes you dont need a side hustle you just need to find a company that will pay you what youre really worth.
Love the principles and I'm not a Ramsey hater, but if I followed Dave's advice to the T, I wouldn't have bought my home which is now worth twice what I paid for it 6 years ago (in what was considered a hot market at the time), nor would I have lost money investing in small cap and international mutual funds. There are going to be different situations where sticking to Dave's plan will frankly delay your wealth building... buying a house today with a 15 year mortgage as a rule is probably the largest rule to ignore - if you can do that then great, if you can then you're likely already independently wealthy. Eliminate revolving credit, pay off high interest accounts first, have a budget, be frugal and smart -- but know that your situation is going to be different than others and you should act accordingly.
15 year mortgage and only 25% of NET income. That's so low. I'm in the UK so maybe it's different but house values are typically 5 to 6 times Gross Income. I've done just that and on a 30 year mortgage it's about 35% of net income. My home is more than I need but the smallest I could get away with would still be about 25% payment on a 30 year mortgage not a 15 year mortgage.
@imitationpitaya
Ай бұрын
No, it’s not just y’all. Housing prices on this side of the pond suck too
Would you recommend saving for a home down payment through a high yield account or brokerage account?
@Pandorash8
Ай бұрын
Dave’s general rule is using high yield savings accounts if you plan on needing the money within 5 years. If you think it’ll be more than 5 years, then you can invest it.
Slow and steady wins the race
@cameron-white
5 күн бұрын
No, it just means you’re finally a millionaire when you’re old and dripped and can’t actually enjoy being young and rich
Honestly I love the memes, you're hilarious!
Ten years ago, I was debt free. Now, I'm over $50K in debt. Why? I didn't have a goal. I also borrowed and spent money on things that I didn't need. The first thing you have to do is set a goal. My wake-up call is that I am 54 and not ready to retire in ten years. I don't want to depend on inheritance to get out of debt and retire. I now have a goal. It isn't to buy a house though. That is the typical American dream for most people and it does build your net worth. My goal is to retire on a sailboat and cruise the seas. First goal: become a millionaire in ten years. Second goal: remain healthy to enjoy my retirement.
@danielkoontz6732
Ай бұрын
You should check out Sailing SVDelos. The guy did pretty much that. Quit office work. Bought a boat. Sailing the world. Met his wife. Had a kid. The 3 of them are still sailing!
Anyone can be a millionaire... Just need to start saving and investing young. Live frugally, save and invest 15-30%. Keep looking for opportunities to improve your income.
@BigJohnM
Ай бұрын
You don't even need to invest over 15 percent. Time is your real factor. 18k saved in an index fund for 40 years will get you to a million without putting in anything else but the initial 18k. Check out George's video on the power of compound interest which is his 100k video.
Can't wait to read all the comments about people complaining about how much cost of living has gone up, like always 😂
@metaltera86
Ай бұрын
It’s not really complaining if it’s a fact
@JudeDude409
Ай бұрын
Is it not true though?..
@republicunited2183
Ай бұрын
When you vote for left-commies or they steal it from us, this is what we end up with.
@cashflow68
Ай бұрын
Cost of living doesn’t affect me as much because my entire stock portfolio pays me dividends. My dividends supplement my retirement
@BigJohnM
Ай бұрын
I think the point is, It just gets old hearing people complain about the cost of living. It's not going to fix anything and it's not going to help their situation out. It's just a crutch that people use to give up and not do anything about it. What they need to do is start making good decisions and get a real plan and execute that plan. I will be honest, cost of living is crazy right now but it's not hurting me. I do less so I can still save and give just like I did back in the early 2000s. Doing is always better than crying about it.
Research needs to be updated because with social media, technology advancement reaching a millionaire within 7-10 years or less is way more achievable now and you don’t need to take unnecessary risk by investing into things you don’t understand or cutting corners
Loved your book.
I’m 32 and will hit millionaire status this year. If you want to do it quickly you need to start a business and/or invest in real estate. Hoping someday the Ramsey squad will help people in these ways too.
If I'm 65 and I want to retire, what should I do with the 1-2million dollars that I have saved? Leave it in the account and make monthly withdrawals or withdraw all the funds and buy properties and live of the rents?
Im currently on what would be the equivalent to baby step 6, but it's not completely Dave's plan. I look forward to doing a colab with you someday in the not to distant future. ❤
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
yeah yeah... that all sounds good on paper, but how do I keep up with the Joneses?? ( o.o)
Most new homeowners can not afford a 15 year mortgage. The payment wont be affordable for them. Take a 30 yr mortgage and make extra the principle
@bvoyelr
Ай бұрын
George would respond: "If you can't afford a 15 year mortgage, you can't afford the house." Make of that what you will. I tend to agree with you, but there's something to be said for being frugal and using the equity from the cheap home to upgrade to a bigger, better home later.
37 year old and hit 2.1 million with no debt. I worked my butt off and had two mental breakdowns in the privacy of my own home and had health issues. I want to buy a home, but everything in my area is 1-2 million for a decent home which would cut my net worth. I’m single, a fairly attractive and highly educated woman, and I’m worried that the money I have is not enough and I can’t stop working. I’m tired. Money is great, but I can see why people say anyone can be unhappy and unsatisfied whether rich or poor. I think once I get to 4 million that will be enough but…at what expense?
@JoeSoCal2303
Ай бұрын
"The late novelist Kurt Vonnegut informed his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responded - “Yes, but I have something he will never have ... enough.” No milestone will ever make you feel complete. You need to find out why you dont feel fulfilled and work on that. I felt super behind when I first started investing and I invested like crazy (and still do lol). But I realized I would need a milestone where I felt I had "caught back up" and after thinking about it over the course of several years I realized there won't be a point where I feel caught up. So gotta appreciate doing the process. The process will get you to the end goal so make sure you enjoy the process cuz the end goal will never be rewarding in the way you want it to be.
@V8Brah
Ай бұрын
Buying a home wouldn't cut your net worth. You're just moving money.
@AT-hs9nf
Ай бұрын
I am 41, in the same boat as you except I am a guy but I did build a home last year. And your net worth doesn't diminish. You are just changing asset allocation. Home in the longer run will only appreciate IF in a good area. So if you want a home, go for it. End of the day you ain't going to take money with you 😊 Or even better move to a diff state IF you can or want to. Easier said than done but you will be fine.
@robert7737
Ай бұрын
Focus less on work and more time towards building a relationship where you can now be dual income and get laid more regularly/meaningfully and buy a house together.
@AlyssaWolverton
Ай бұрын
Trust me, no number will make you feel good enough. Learn to live and serve.
South Park came up with accountabilibuddies like 20 years ago. It’s a great episode though lol
@kahouayaj
Ай бұрын
exactly my thought! lol.
@bvoyelr
Ай бұрын
Bah! Wrote the same comment before I checked the comment section! Annoying, but glad to see other men of culture in the audience ;)
@oherroprease207
Ай бұрын
@@bvoyelr Glad I could keep you accountabilibuddyable!
@Pandorash8
Ай бұрын
I came here to say this too 😂 Love that ep.
Great video!!!!!
Watching George Kamel and there is a commercial for a casino app.😆
Im 22 and have $600k. I worked full time from age 14 after highschool, and during college. And invested it all into tje S and P
The key is to not carry a credit card balance but I don't see any problem having credit cards and paying them off every month. Been doing it for years and ill take my little 2-3% discounts in the form of cash back. Doesn't seem like much but who hates free money if you aren't paying interest on balances right?
Paying a mortgage off early that has an interest rate under 5% is throwing money away. As an example, I have a 4% mortgage. If I put $1000 a month into a high yield savings, I will make 1% more on interest than I save by paying down that much on a 4% mortgage. Of course if one has a newer, and ultimately higher mortgage rate, this example does not apply.
The fastest way to become a millionaire is to help lots of people as a small business. We went from a -$59k net worth to a $500k annual income in 3 years. Lots of hard work and over $1,000 people helped.
If you separate yourself from Dave Ramsay, you will gain a TON of credibility, and admiration. Your gains will 100% outweigh any potential losses.
Kamel Kamel Kamel!!!
I have a 20yr old nephew who is positive he's going to be a millionaire by 22. He needs to watch your videos
Yeah. for that kid to get to $1Mil in that short a time is to be a business guru turning that $100k into a new business that nets him $100k per month. It IS possible, but it's hard without knowing his skill set that he can use to start a business. Not something easily doable for most people. Most people would take years or even a decade or more to have a business to get to that point.
@NotKimiRaikkonen
Ай бұрын
It's 47% compounded yearly, which is a ton of risk
I wish that you would give specific dollar amounts on your situation for transparency
@tcgtpl
Ай бұрын
You can find his debt-free scream episode on the Ramsey channel. Someone in that video’s comments did the math & figured he & wife had an additional 6k a month to put into paying their house off early, so they had some serious margin. George has also said in previous videos on this channel that he & wife do make good money so that has really helped in their situation.
Your house value doesn't actually do anything in regards to your net worth. You cannot buy groceries with it. If you have 10 stock. You can sell 1 and go buy some groceries. You cannot really do that with your own house. Unless you buy down in a home. Or you move into a retirement community.
@dking1362
Ай бұрын
That simply means it's not liquid. Sure, it affects your net worth: you could sell it to downsize, rent, or even move in with family if a financial crisis hits.
Only thing I find hard to agree with is the dual income stuff. A man should provide for his family and allow for his wife to stay at home so the kids don't have to be raised by some daycare workers just so you can invest more
The tools and equipment I’ve bought with debt have allowed me to reach my financial success in ten years. I’d still be doing well without it, but nowhere near as well.
Opening a Roth for my soon to be 18 year old son. Couldn’t do it earlier, so I’m hoping to give him a better start. The UTMA will help too.
Getting married nowadays is a lottery - risk/reward ratio looks horrible, you are much likely will loose your wealth instantly due to marriage. However I agree that if you are lucky enough to found a decent woman who will be loyal to you this will boost your success in life
@jasonleatherwood2172
Ай бұрын
She got a 60000$ check and moved in with her boyfriend no payment at all
If she wants to stay home? Oh, George. You are adorable.
I can't hear "1,000 Miles" without thinking of Terry Crews 😂😂😂
@humbertondambi802
Ай бұрын
What happened to him?
@jh26pt2
Ай бұрын
He became President of the United States. Didn’t you see “Idiocracy”? He spoke in front of the House of Representin’ just the other day.
We reached a net worth of $1M plus with debt. Does it still count?
@WildBoyLiv
Ай бұрын
Yes
@vlharmon
Ай бұрын
As long as your assets are a million plus whatever your debt amounts to.
@IrisP989
Ай бұрын
You meant minus the debt that we have
@vlharmon
Ай бұрын
@@IrisP989 One million in assets. 50,000 in debts. You would need One million and fifty thousand to be a millionaire. I think we are saying the same thing.
@IrisP989
Ай бұрын
Got it. Correct.
I’m planning to live at home with my mom as long a possible then live in a minivan then get married. I’ll be debt free in 4 years (including my mom’s mortgage) and a millionaire in 10
@dking1362
Ай бұрын
From $0 (debt-free) to millionaire in 6 years? Must be quite the income....
Never do a 15 year mortgage. Always do 30 year and if you can pay it off early, most certainly do that. 30 year mortgage gives greater flexibility to the homeowner in times of stress.
@dking1362
Ай бұрын
True, BUT you will carry a higher interest rate.
I did it at 46. Trucking along.
@grahamcarmichael6567
Ай бұрын
I did it at 45. Beat ya
Some of us don't have 20 years to live, George.
I'm pretty sure "never carrying a credit card balance" means they paid it off every month, not that they never had a card.
Make a video about how to deal with broke family members trying to get you to support their mlm "business"
While I’ll likely never get to the million benchmark I think I’ll be just fine as a senior bachelor
George calling me out on how little time I have 😂
I have about 250k distributed across various investing accounts, with 35% of my capital invested in an ISA and 25% in index funds. In Q4, 2023, I suffered a great deal. I'm just searching for methods to get better in 2024 right now.
I became a millionaire at 40. The next million becomes quicker and on and on and on.
ASAP rocky
Worldly living tips
Dual incomes, no kids, and a dog - the ultimate recipe for financial success! 🐶💸
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Kimberly Smith.
@Atticus.fontes
Ай бұрын
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
@BrownAtwood
Ай бұрын
I'm new at this, please how can I reach her?
@DonnaCWilson878
Ай бұрын
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
@LeahRoberts618
Ай бұрын
she's mostly on Telegrams, with the user name.
@LeahRoberts618
Ай бұрын
Ksmith6 💯
I stopped going to KFC and with the money I save I think I will be a millionaire in a couple months.
@user-pb4ru6qg4e
Ай бұрын
😮
@BigJohnM
Ай бұрын
😂😂
@patricksimon8943
Ай бұрын
You are the man Eric. I can find your humor in comments always.
@FinanciallySavvyPT2012
Ай бұрын
KFC was more worth the money. Spicy chicken makes the tummy say woo weee
I'd love to order a Lyft and have George pick me up!
Crazy crazy George 🎉😂
Disagree. Your home does not count as an asset UNTIL you sell it. Up until that point it's a liability. Home owners are ALWAYS having to spend money to maintain the home. Therefore it is NOT an asset, and should not be counted in the "net" calculation. I know you will disagree, and that's fine. You will certainly reach ACTUAL millionaire status very soon, despite the fact you OWN that enormous liability called, a house.
Sadly, the ‘Smart Investors’ he talks about are very expensive, for me…anyway.
South Park beat you to Accountabillabuddies
Don’t forget to like and share
@stevenewsome5306
Ай бұрын
It was so good I hit like 2 times 😂
DINKWACS is another category. Where are all the DINKWACS at? (double income no kids with a cat(s))
"" George"" it all COMES down in income.. if your average income in your life time is 50 to 60k.. don't expect to became a millionaire"" if its close to 6 figure plus '' yeah"" Vanguard'' does a study on this topic"" How america saves""
If you have $100,000 at 19 you should put 100% in the riskiest investment to make the most money. The reason is, even if you lose it, you are young and can make it back easily.
Hate to break it to you George, but I think South Park did Accountabilibuddies first 😂
Bro beame a millionaire buy buying a home near Nashville and hit the covid boom.
he mentioned the lavender oat milk lifestyle creep and and im looking at it on my desk... sad panda.
Personally, I think investors will start to seek more market diversification. can i confidently invest about $350k into the financial markets in 2024? I'm still not sure how rates will effect the market just yet, which worries me a lot.
This guy is only a net worth millionaire cuz he got married and cut the goal down to 500k each
@lanceroparaca1413
Ай бұрын
No, he is because he got a great wife
invest that 100k into bitcoin and watch it turn into 10 bucks in 6 years buddy.
Wish some of these were targeted towards single adults. Yes - LOTS easier with another income in the household!
Came for the financial advice. Stayed for the memes.
Social trading allows investors to tap into the expertise of seasoned professionals, benefitting from their market insights, strategies, and experience. This can be particularly valuable for novice traders or those who don't have the time or resources to devote to extensive market research and analysis
@Liam13226
Ай бұрын
Do you invest with a professional broker? I'd appreciate it if you show me how to go about it
@SaraChin-tq3rl
Ай бұрын
He's a renowned hedgefund manager
@SaraChin-tq3rl
Ай бұрын
All I do is simple I just activate my account to copy trades from Thiago gonzalo and that's all
@AndrewPaul-yr9zm
Ай бұрын
Who does the copy trading for you
@Majuna.
Ай бұрын
Yes that the question I Wana ask
It’s easy to save a ton when you’re double income and no kids. Raise 3 of them from birth through college and then come back and talk to us.
"This is like data 'n' stuff" 😂
He clearly didn’t know about crypto market. New investment market. Best way to multiple investments by 10x
I feel attacked, I’m the Aunt with the wooden wick candle business 😂😂😂
ID services at $9/mo is way too high. Other options are out there.
Easy, buy crypto.
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
@larryhenry2070
Ай бұрын
I'm 37 and have been looking for ways to be successful, please how??
@freddiearthur2151
Ай бұрын
Sure, the investment-advisor that guides me is..
@freddiearthur2151
Ай бұрын
Kathy lien
@jacksonlucas5933
Ай бұрын
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
@ethanjesse8661
Ай бұрын
😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
I'm left struck with thousands of dollars disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk, my goal is to retire early and afford my lifestyle after retirement.
@Wendytsang12
Ай бұрын
Dont think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor to ensure appropriate investment planning.
@AntagonisticAsian
Ай бұрын
True. I’ve been investing in the money market for 11 years now, last 5 years with the help of a financial planner. Throughout these years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m roi as of today. My best so far
@TylerofSc004
Ай бұрын
mind leaving info of your advsor here please?
@AntagonisticAsian
Ай бұрын
She goes by ‘Jill Marie Carroll’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
@TylerofSc004
Ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
South Park definitely beat you to Accountabilibuddy!
DINKWADS