How to Become A Millionaire Starting with $0

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How would I build a million-dollar net worth if I started from ground zero today? Here are 10 things I’d do-and spoiler alert, none of them involve a get-rich-quick scheme.
Links:
5 Side Hustles I Used to Build Wealth: • 5 Side Hustles I Used ...
Investing for Beginners: • Investing for Beginners
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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.

Пікірлер: 290

  • @TheJackCain-84
    @TheJackCain-84Ай бұрын

    Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

  • @Jamessmith-12

    @Jamessmith-12

    Ай бұрын

    Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment

  • @martingiavarini

    @martingiavarini

    Ай бұрын

    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.

  • @Syndiewndell

    @Syndiewndell

    Ай бұрын

    Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.

  • @Jamessmith-12

    @Jamessmith-12

    Ай бұрын

    Impressive can you share more info?

  • @Syndiewndell

    @Syndiewndell

    Ай бұрын

    Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

  • @whysoblutube
    @whysoblutube7 ай бұрын

    I hope they don’t cancel the book. Good to see George here. 4% 4-life!

  • @ShaquilleOatmeal94

    @ShaquilleOatmeal94

    7 ай бұрын

    I dont even know why thats a bad rule. If you live off your 12 percent like dave says. The 4% is definitely a good base rule. Who knows what the future holds but if you live on 4% it grows alot faster than living on 8%. And gives more wiggle room for next years budget

  • @whysoblutube

    @whysoblutube

    7 ай бұрын

    @@ShaquilleOatmeal94 the main issue is that Dave is under the impression that your nest egg will grow 12% a year every year. That’s wrong because he’s not accounting for major down markets and potential crashes. One year you’re up 12% but the next year you might be down 20%.

  • @wadelevan1787

    @wadelevan1787

    7 ай бұрын

    @@whysoblutubebut it averages 12. Some years it’s up 36% like just a couple years ago.

  • @wadelevan1787

    @wadelevan1787

    7 ай бұрын

    @@ShaquilleOatmeal94Dave never says you MUST draw out 8% every year. He just shows you what is possible. If you can live on 4% and be happy, that’s great. If you have 20 million you might live on less than 1%. That is what Dave teaches. He never says if you have 20 million dollars you better be drawing out 1.6 million per year (8%).

  • @whysoblutube

    @whysoblutube

    7 ай бұрын

    @@wadelevan1787 that’s an average. It doesn’t mean it’s 12% per year every year. What happens on a down year? That’s when you get hosed.

  • @Brodin-id8re
    @Brodin-id8re6 ай бұрын

    I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 48, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.

  • @pineedbydmoon

    @pineedbydmoon

    6 ай бұрын

    Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

  • @SerinaGliues

    @SerinaGliues

    6 ай бұрын

    Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

  • @JaneBlac-

    @JaneBlac-

    6 ай бұрын

    Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.

  • @JaneBlac-

    @JaneBlac-

    6 ай бұрын

    Stacie Lynn Winson is my Advisor. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online. I usually trade in accordance with her strategy.

  • @ben_dukeson

    @ben_dukeson

    6 ай бұрын

    Stacie Lynn Winson appears to be a highly knowledgeable professional in her field. Upon conducting an online search, I found her website where I had the opportunity to review her qualifications, educational background, and professional experience. It is reassuring to know that she operates under a fiduciary duty to prioritize my best interests. To benefit from her expertise, I have scheduled a session with her.

  • @Lunixed
    @Lunixed7 ай бұрын

    3% Gang!! We're here for you George

  • @charleswagenseil5496

    @charleswagenseil5496

    7 ай бұрын

    8% for the Big Guy!

  • @joshuanieuwenhuis2073

    @joshuanieuwenhuis2073

    7 ай бұрын

    ​@@charleswagenseil5496 10% actually

  • @Mark_Trail
    @Mark_Trail7 ай бұрын

    Hey George, any chance you can do a video on safe withdrawal rates at retirement?

  • @shavenyak1

    @shavenyak1

    7 ай бұрын

  • @steve_darby

    @steve_darby

    7 ай бұрын

    Hint- don’t say 4%

  • @joeriveracomedy

    @joeriveracomedy

    7 ай бұрын

    Every laughing emoji

  • @Mark_Trail

    @Mark_Trail

    7 ай бұрын

    I'm not saying DR is wrong. Would mostly just like to know the math behind the 8% recommendation, especially when the market is down.

  • @elcheekoful

    @elcheekoful

    7 ай бұрын

    ​​@@Mark_Trailif you look VOO(S&P 500) has had a average return of 9.5 % percent over the last 30 years.

  • @ClemenceRoskelley
    @ClemenceRoskelley6 ай бұрын

    Successful investors are dependent on the action or steps they take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke. Investment is building a safe haven for the future: with the right choices of investment that has minimum risk and with an Expert guidance, profit and interest should be guaranteed.

  • @pineedbydmoon

    @pineedbydmoon

    6 ай бұрын

    Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

  • @JaneBlac-

    @JaneBlac-

    6 ай бұрын

    Exactly ! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn.

  • @MiaKatherine-sj7ne

    @MiaKatherine-sj7ne

    6 ай бұрын

    I have been investing in stocks for over 10 years now and I have made a lot of money. My portfolio has grown exponentially and I can't thank stocks and Stacie Lynn Winson enough for such an amazing way to make money.

  • @Dave_East

    @Dave_East

    6 ай бұрын

    Please how can i find the lady you mentioned?

  • @MiaKatherine-sj7ne

    @MiaKatherine-sj7ne

    6 ай бұрын

    Actually, I'm not sure if I'm allowed to mention this, but I'd recommend looking up “Stacie Lynn Winson” because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.

  • @TheSilverBackStacker
    @TheSilverBackStacker7 ай бұрын

    1. Align with your Spouse on Money 2. Create A Financial Goal 3. Have a Why 4. Avoid Debt 5. Increase Income 6. Avoid Lifestyle Creep 7. Build an Emergency Fund 8. Invest in Retirement 9. Buy a Modest House 10. Be Patient

  • @TheyRiseBand

    @TheyRiseBand

    7 ай бұрын

    11. Plan for 4% distribution, instead of 8% from the retirement fund.

  • @jonquis07

    @jonquis07

    6 ай бұрын

    #5 is the hard part

  • @jrey1

    @jrey1

    3 ай бұрын

    ​@@jonquis07doesn't have to be! You'd be surprised how much you can make from delivery apps

  • @LotusKay36
    @LotusKay367 ай бұрын

    George, you’re 100% right on the 3-4% rule. Dave is peddling some insanely dangerous advice saying people can pull out 8% annually. That’s not how investments work, they don’t increase 12% every single year. It’s insane how confident he is on advice that is so wrong.

  • @alejandroguerrero7841

    @alejandroguerrero7841

    7 ай бұрын

    You're right.. some years it goes up 25% the next year it goes down 15%.. average over a period of time will be at least 10 to 12 percent.

  • @nikketh

    @nikketh

    7 ай бұрын

    STILL WAITING FOR PUBLIC APOLOGY

  • @argupta15115

    @argupta15115

    7 ай бұрын

    Does anyone have the link to his original video on the 3%, has it been taken down ?

  • @TalesOfNalstoneTeam

    @TalesOfNalstoneTeam

    7 ай бұрын

    I think he's working on numbers during his generation, but yes I agree, the returns are lower on our Super (aussie version of 401k). About 10-11%. I agree with 3%, not 8%. But hey, numbers can change in years to come.

  • @ShaquilleOatmeal94

    @ShaquilleOatmeal94

    7 ай бұрын

    @@alejandroguerrero7841 so when they all average to 10-12. Pulling 8% will create an average pull out of 8%. I do agree on a hard year cutting back but pulling 15% on 25% year wouldn’t sound crazy so on average i do agree with the 4. But 5 percent couldnt hurt with the massive conglomerates that we have there days

  • @HappyChicken223
    @HappyChicken2237 ай бұрын

    Dave NEEDS to apologize to you!

  • @Car-editzz-sq1qk
    @Car-editzz-sq1qk7 ай бұрын

    I’m 18 have 32k in the bank, drive 10k accord, 14k in mutual funds gotta keep up the work we can all can get there

  • @justvincenturb
    @justvincenturb7 ай бұрын

    George: #1 align with your spouse-- Me: damnit, gotta find me one now.

  • @priscaonyebuchi7403

    @priscaonyebuchi7403

    7 ай бұрын

    Hahaha 😅; you’re so real for this

  • @shawnoneil2119
    @shawnoneil21197 ай бұрын

    How to get to a million and then take out 8% so your million disappears within a decade

  • @davidbrooks8809

    @davidbrooks8809

    7 ай бұрын

    Lmao!!😅😢😂

  • @fsmoura

    @fsmoura

    7 ай бұрын

    Shots fired! 💣

  • @b.m.4066

    @b.m.4066

    7 ай бұрын

    How do you people not understand 12% a year minus 4% to inflation minus 8% equals zero meaning you are not touching the initial amount purely living off the interest

  • @tomdriscoll7041
    @tomdriscoll70417 ай бұрын

    George, you're by far the new face of the Ramsey corporation run with it.🤘

  • @Jesus-eg3yb
    @Jesus-eg3yb7 ай бұрын

    This was great George. Thank you.

  • @rob8582
    @rob85827 ай бұрын

    George should step away from the Ramsey brand. It's so unprofessional that Dave called George a moron on air for giving sensible retirement withdrawal advice. The real moron is Dave for suggesting that an 8% withdrawal rate is reasonable. Every financial professional is calling Dave out for this and realizing what a fool Dave is. We stand with you George!

  • @b.m.4066

    @b.m.4066

    7 ай бұрын

    Why can you people not do basic math 12% a year minus 4% to inflation (Which is high for inflation) leaves you with 8% left over to be withdrawn without touching the initial investment

  • @chrisforker7487
    @chrisforker74877 ай бұрын

    Another great video George! Keep up the great content!

  • @lowetana
    @lowetana7 ай бұрын

    That stick stickley reference got me dying

  • @jonsmith9728
    @jonsmith97287 ай бұрын

    #2 had me rollin lol, have a great weekend george (in dec. i usually plan ahead for the next yr, usually hit about 60-70% of goals, hard to plan for unseen events)

  • @ccmusic2249
    @ccmusic22497 ай бұрын

    I agree that debt is the biggest impediment to wealth building, but I'd add taxes to that short list as well.

  • @RebeccaKeepper.eXpRealtor417
    @RebeccaKeepper.eXpRealtor4177 ай бұрын

    We enjoy your videos and information& we love you George

  • @rony138
    @rony1387 ай бұрын

    4% or 8% ?

  • @b.m.4066

    @b.m.4066

    7 ай бұрын

    Use eight it makes way more sense than 4%

  • @nexusSix_237
    @nexusSix_2377 ай бұрын

    You have the best and funniest personality..oh and also great advice

  • @davidbrooks8809
    @davidbrooks88097 ай бұрын

    Great Information!!

  • @prestonj.7687
    @prestonj.76877 ай бұрын

    hey george! love your content. i hope dave apologized for that rude comment on the show a few weeks ago.

  • @AJohnson0325
    @AJohnson03257 ай бұрын

    Paying yourself first is the best way to fight lifestyle creep. Every time I get paid via direct deposit, I transfer the same percentage to Fidelity. By the next time I get paid, that amount needs to be invested and all the dividends get reinvested. I was thinking that for a six month emergency fund to keep 3 months in cash and 3 months in short term treasury bills. 6 months of expenses is a lot to keep in cash and if you never use it then technically you’d have to keep adding to your emergency fund due to inflation to cover 6 months expenses when rent and everything keeps going up.

  • @pe8841

    @pe8841

    7 ай бұрын

    Great point

  • @ryjoph89

    @ryjoph89

    7 ай бұрын

    Currently HYSA have 4.5-5.0% interest also so we have $0 in idle cash. Beats inflation somewhat for now until rates go down. We have 1/2 in liquid cash earning interest and 1/2 in laddered CD’s

  • @user-ym9sx6jt8m
    @user-ym9sx6jt8m7 ай бұрын

    Agreed. On track. But the average house in Canada is 675k with the average income much lower than in the US...

  • @edwinroyal9734

    @edwinroyal9734

    7 ай бұрын

    Yeah, we're feeling it here in Ontario. On track to move back to the US in a couple years. Hopefully things will even out and homebuying won't be out of reach for long..

  • @LeMErin21
    @LeMErin217 ай бұрын

    I think George is one of the most relatable personalities that DR has had. I would love to see some content specifically for singles fighting this fight solo. And shoutouts to Oscar (my spirit animal) and Stick Stickly 👏👏😆

  • @lindapetty2502
    @lindapetty25024 ай бұрын

    Great advice 😊

  • @johnconner8437
    @johnconner84377 ай бұрын

    Yes further break dowm needed

  • @lucybell1487
    @lucybell14877 ай бұрын

    George is pumped but could have an increasing appetite for humble pie so his message does not get lost

  • @loveandjoy810
    @loveandjoy8107 ай бұрын

    I watch you. Not Dave for real.

  • @fsmoura
    @fsmoura7 ай бұрын

    *Step 1:* Add 1 million dollars *Step 2:* Done 👍

  • @SbzeroGames

    @SbzeroGames

    7 ай бұрын

    🤣🤣🤣🤣

  • @davidbrooks8809

    @davidbrooks8809

    7 ай бұрын

    😂😊

  • @littlebuck5218
    @littlebuck52187 ай бұрын

    George when doing baby step 3b how much should i be saving? 3-5%? 10%? Go for 20% or is it a certain time period you save up for before 4,5,6?

  • @BCRichDraco1990
    @BCRichDraco19907 ай бұрын

    You don't have to keep saying "net worth millionaires". You're just millionaires.

  • @TheCactuar124

    @TheCactuar124

    7 ай бұрын

    If you have $1 million cash but $900,000 in debt, you're not a millionaire lol

  • @BCRichDraco1990

    @BCRichDraco1990

    7 ай бұрын

    ​@@TheCactuar124 Exactly. Net worth is the only way to determine if you're a millionaire.

  • @TG-cr6fb

    @TG-cr6fb

    7 ай бұрын

    People say “buying the house” by taking a loan. Buying the house is paying cash. The same with net worth.

  • @BCRichDraco1990

    @BCRichDraco1990

    7 ай бұрын

    @@TG-cr6fb I don't disagree But I think if you take out a loan you are "buying the house" because you're in the 15-30 year process of buying it. So when someone says they bought a house, but they have a mortgage, they are actually "buying the house."

  • @brianpulliam1100
    @brianpulliam11007 ай бұрын

    This year has been challenging because raises may have not kept up with the significant increase in grocery costs as well as other increases like car maintenance.

  • @GeorgeKovner294
    @GeorgeKovner2947 ай бұрын

    I will be forever grateful to you, you changed my whole 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 Margaret Bryant.

  • @petermichael166

    @petermichael166

    7 ай бұрын

    I invest with Margaret Bryant too, she charges a little commission on profit made after every trading session which is fair compare to the effort she put in to make huge profits.

  • @JeffreyBaldwin583

    @JeffreyBaldwin583

    7 ай бұрын

    This is not the first time i am hearing of Margaret Bryant and her exploits in the trading world but i have no idea how to reach her.

  • @JenniferDaniel638

    @JenniferDaniel638

    7 ай бұрын

    With the consistent weekly profits I'm getting in vesting with Margaret Bryant there's no doubt she is the most reliable in the market. such a genius.

  • @GeorgeKovner294

    @GeorgeKovner294

    7 ай бұрын

    She often interacts on her verified Telegrams, using the user name written below

  • @GeorgeKovner294

    @GeorgeKovner294

    7 ай бұрын

    @ BRYANT4 💯 ..that's it

  • @zaidkvex3339
    @zaidkvex33393 ай бұрын

    This video goes to my saved videos definitely

  • @anthonyjames4319
    @anthonyjames43197 ай бұрын

    “Follow the Ramsey baby steps.” There I saved you 11 minutes.

  • @davidbrooks8809

    @davidbrooks8809

    7 ай бұрын

    😂

  • @fsmoura

    @fsmoura

    7 ай бұрын

    Doing God's work ✅🙏

  • @b.m.4066

    @b.m.4066

    7 ай бұрын

    I mean that's essentially what all of his videos are, but they have George as the younger face of the company to try and attract younger and new people that probably haven't heard of Ramsey

  • @sixtynineelephants2403
    @sixtynineelephants24037 ай бұрын

    Still stuck on the first point. How about a video for the person who's spouse won't get with the program?

  • @pensacola321
    @pensacola3217 ай бұрын

    Hey, if it ain't 8% George!! 😊

  • @kevinritter1341
    @kevinritter13417 ай бұрын

    It’s all about income streams. At minimum people should have 3. Full time job, door dash Uber eats or shipt on your days off and selling things on Facebook.

  • @davidbrooks8809

    @davidbrooks8809

    7 ай бұрын

    That are have 1 Great job

  • @ryjoph89

    @ryjoph89

    7 ай бұрын

    Selling things on Facebook is not income… that’s reducing household assets at a severely depreciated discount. (But should definitely be done to declutter and simplify life and the cash from selling is helpful but there is only so many things you can sell and you already bought them originally) Unless you buy cheap stuff off FB/Craigslist and repair/spruce up then resell at a profit… the net profit would be income then

  • @jrey1

    @jrey1

    3 ай бұрын

    ​@@ryjoph89my motherinlaw used to do that alot. Get stuff for free or dirt cheap at yard sales. Her favorite go-to is cleaning up the wooden furniture and staining it and it makes her a decent chunk of change

  • @JosiahK555
    @JosiahK5557 ай бұрын

    I thought i just had to pull 8% and chill 🙃

  • @charleswagenseil5496
    @charleswagenseil54967 ай бұрын

    What’s a safe withdrawal rate in retirement?

  • @domega7392

    @domega7392

    7 ай бұрын

    8% duh

  • @fsmoura

    @fsmoura

    7 ай бұрын

    Danger! Danger!! Plead the fifth, George! ( oДo)💣🔥

  • @domega7392

    @domega7392

    7 ай бұрын

    No, wait, I change my answer to 100% YOLO

  • @tiagoj8020

    @tiagoj8020

    7 ай бұрын

    Stop stirring the pot.

  • @isthisforme8127

    @isthisforme8127

    7 ай бұрын

    Papa Dave has entered the chat

  • @Anonyme67
    @Anonyme677 ай бұрын

    I couldn’t agree more with buying a modest house. We got our townhome in 2017 (as a foreclosure) for 230k today it worth 350k. Only have 88k to pay and I intend to finish that this year.

  • @punkbassandcovers
    @punkbassandcovers7 ай бұрын

    Second video in a row with a Lake Titicaca shout out...I think I'm onto your 'why,' George 😂

  • @kingsgold

    @kingsgold

    7 ай бұрын

    You can thank his middle eastern background for the continued use of Lake Titicaca.

  • @tabsinnervoice3839
    @tabsinnervoice38397 ай бұрын

    So like roughly how much income do I have to bring in for those 10 years to get there?

  • @Pjsafa7373
    @Pjsafa73737 ай бұрын

    I would like to hear more about how to use only a debit card or cash instead of a credit card--especially online. I have heard that it is unsafe to use debit cards online bc of the connection to the bank. How true is all of this? Thank you. Enjoy your videos.

  • @lukescapee1234
    @lukescapee12347 ай бұрын

    Is the Stick Stickly reference the song tho? 👀

  • @theJohnnyPinball
    @theJohnnyPinball7 ай бұрын

    Does Riff edit for you?

  • @jaredgates4310
    @jaredgates43107 ай бұрын

    It would be interesting to see how George and his wife became net worth millionaires. What their income over time has been. It's not impressive if their income is $500K a year. I mean anyone can become a net worth millionaire with a sufficiently large income.

  • @blackbutterfly233ify

    @blackbutterfly233ify

    7 ай бұрын

    He already has a video on that

  • @jaredgates4310

    @jaredgates4310

    7 ай бұрын

    It's on this channel? Which video? I haven't seen any content where he said what his income is.@@blackbutterfly233ify

  • @bengunn6571
    @bengunn65717 ай бұрын

    I don't understand why George and the ramsey team tell you to get a 15yr mortgage over 30yr. You have way more of a buffer if something unexpected comes up. Just pay the 30yr off sooner. Its so unrealistic to get a 15yr and for it to also be no more than 25% of your take home pay.

  • @tcgtpl
    @tcgtpl7 ай бұрын

    George could set up an account for his newborn to show how you can grow a seven figure net worth starting at zero.

  • @isthisforme8127
    @isthisforme81277 ай бұрын

    George has to run all videos through Papa Dave now 😂

  • @blackbutterfly233ify

    @blackbutterfly233ify

    7 ай бұрын

    Lol

  • @fsmoura

    @fsmoura

    7 ай бұрын

    Just to make sure you got all the percentages right 👌👍

  • @heathervenkat1414
    @heathervenkat14147 ай бұрын

    I remember stick stickly haha

  • @TopVillain
    @TopVillain7 ай бұрын

    I feel like this information is redundant but it’s good to come back when you feel the urge to spend money unnecessarily

  • @TheyRiseBand

    @TheyRiseBand

    7 ай бұрын

    There is only so much to talk about with Ramsey's recommended advice -- some of which is woefully outdated.

  • @Jeremy-ij9bk
    @Jeremy-ij9bk7 ай бұрын

    I remember Stick Stickly!

  • @elwooddiggler
    @elwooddiggler7 ай бұрын

    2:50 I am a star. I’m a star, I’m a star, I’m a star, a big bright shining star.

  • @joannalissalbert
    @joannalissalbert5 ай бұрын

    I didn’t think the Stick Stickly reference was weird…. Until you said it was. Now I realize that he is niche knowledge 😂

  • @_shumba
    @_shumba7 ай бұрын

    I think the key to most of these goals is going to be patience. People think becoming a millionaire is about achieving this level of wealth at the age they are currently at. But the way we should think about it is that the millionaire status may come towards our 50 or 60s, but being a 100 "thousandaire" in our 30s is the right track or being a 300 or 500 "thousandaire" in our 40s is just as good.

  • @ndwhitlow

    @ndwhitlow

    7 ай бұрын

    100% patience is key. "A faithful man will abound with blessings, But he who hastens to be rich will not go unpunished." Proverbs 28:20

  • @ryjoph89

    @ryjoph89

    7 ай бұрын

    This. Get rich quick schemes keep (most everyone) broke. Slow and steady with maintainable structured smart financial decisions win the race

  • @heathervenkat1414
    @heathervenkat14147 ай бұрын

    Please use Kim Possible as a reference in a future video 🙏🏼

  • @Sam1628
    @Sam16287 ай бұрын

    3-4 percent for life

  • @rob8582
    @rob85827 ай бұрын

    George, good content as always, but you are over doing it now with the cutaways and memes. It's too much

  • @blackbutterfly233ify

    @blackbutterfly233ify

    7 ай бұрын

    It's not that serious

  • @2024FingersCrossed

    @2024FingersCrossed

    7 ай бұрын

    I love those, they're great.

  • @dzaonyout
    @dzaonyout7 ай бұрын

    My only issue with this is that I would be renting the entire time I save a 3-6 months emergency fund and $x for a down payment on a house. The target of what I would need to save for a down payment, and afford a 15 year mortgage, would move too much as house prices increased. I think these are all great ideas but I don't know if I could buy a modest house on a 15 year rate. Level of income matters too much for some of these things.

  • @stanngsrock

    @stanngsrock

    7 ай бұрын

    @dzaonyout simple solution for your problem. Look for a house elsewhere. You can’t say you can’t afford a home anywhere in 🇺🇸. If that’s the case, income has to go up. The plan doesn’t have to work for you in your prefer city and your preferred home.

  • @dzaonyout

    @dzaonyout

    7 ай бұрын

    @@stanngsrock My issue is retroactive. I moved considerably far away from where I was to take advantage of house prices. I agree with you there. I bought 10 years ago on a 30 yr fixed and I would have never done anything different. My same house in a different location on less land would have cost me 3x (at least). In these 10 years, my principal has been cut down 20% and the house value nearly doubled. The market matters of course, but if we saved a few years instead to afford 15 yr prices, I'd be at a point where I still can't afford 15 yr prices (rates went up, home values went up). This is my long winded attempt to say getting your foot in the door on a 30 yr can be better until you can refinance to a 15 (unless you can make the extra principal payments as if you were in a 15 to save you loot).

  • @stanngsrock

    @stanngsrock

    7 ай бұрын

    @@dzaonyout I agree with you. Timing matters but overall the idea is same. Gots to hate the debt, focus on paying the house off, nothing to celebrate upon buying. See so many folks cheer because they got approved for a mortgage, hell how😂😂

  • @ryjoph89

    @ryjoph89

    7 ай бұрын

    @@dzaonyout we got a 30 year as well as interest rates are brutal. We pay biweekly plus extra and are currently on track to pay off in 17 years and save 100k in interest. Whichever loan you get you can always treat it like a 15 year. It’s just actually having a 15 forces you to work harder and get it paid off quicker and save a lot of interest.

  • @dzaonyout

    @dzaonyout

    7 ай бұрын

    @@ryjoph89 I do like the options with the 30 yr. I can go full ham on my student loans over a couple of years, saving 40k in interest there then have student loan payments to throw at the house. I do think that most people (me included) need the 15 year to force my hand. It is easy to turn off that extra payment. Good on you for sticking to it.

  • @davidshepherd5438
    @davidshepherd54387 ай бұрын

    A 15-yr mortgage for a 400K home, while sticking to the 25% rule, requires an income of over 170K. The median household income in the US is about 75K. The system is broken.

  • @edd06001

    @edd06001

    7 ай бұрын

    Dave loves to spout out statistics and results from studies to support his plan, but also loves to gloss over these true realities.

  • @richardprice4839

    @richardprice4839

    7 ай бұрын

    A 400k home in a fair number of populated areas (especially down south) is alot. In the south, 200-250 gets you a 3 bed 2 bath. I live in Seattle metro and mine is less than 500. Americans especially are just spoiled

  • @danieljohnson4418

    @danieljohnson4418

    7 ай бұрын

    The only thing broken is Ramsey's home buying advice.

  • @davidshepherd5438

    @davidshepherd5438

    7 ай бұрын

    @@richardprice4839 Where I live, 200-250k will get you an empty lot. 300k will get you a dump that needs at least 50-100k in repairs to make it liveable.

  • @izabelz1
    @izabelz17 ай бұрын

    I have to rewind it… I’m missing the show from laughing at lake titicaca

  • @martinkastan4053
    @martinkastan40537 ай бұрын

    Hahaha, you had 2 side hustle in this clip😅😅

  • @ClubOceanBlue22
    @ClubOceanBlue227 ай бұрын

    Debt is a tool to launch your efforts above the "hourly" pay. Ive literally never heard anyone say that you can become a millionaire from a paycheck

  • @stephenadams6455
    @stephenadams64557 ай бұрын

    8 percent withdraw rate for everyone. Hope over numbers

  • @dylanlough5234
    @dylanlough52347 ай бұрын

    GEORGE! please listen to the song “Stick Stickly” by Attack Attack! (You’re welcome)

  • @scevans8756
    @scevans87567 ай бұрын

    Thanks for the laughs 😅

  • @Andrew-zb6hw
    @Andrew-zb6hw6 ай бұрын

    Stick stickly was the Nickelodeon GOAT

  • @twolegittooquit3114
    @twolegittooquit3114Ай бұрын

    Sadly, none of this is realistic because people really don't make a lot of money nowadays, and the cost of living is so expensive.

  • @ke6319
    @ke63197 ай бұрын

    That lake's name will never stop making me giggle as a 12 Yr old 😂😂😂😂

  • @captainkrunch6372
    @captainkrunch63727 ай бұрын

    How would you value a 30k annual pension for net worth? 600k?

  • @Mrsmetamorphosis2012

    @Mrsmetamorphosis2012

    7 ай бұрын

    Pensions can b taken from us. FYI.

  • @lorijharman-runyan6433

    @lorijharman-runyan6433

    7 ай бұрын

    It's not part of your net worth. It's an income stream.

  • @Flownthecoup23
    @Flownthecoup237 ай бұрын

    I don’t consider a home as part of my wealth. Sure, you can sell it but then where would you live?

  • @user-hd8ej8yx9p
    @user-hd8ej8yx9p7 ай бұрын

    I’m surprised Dave allows your sponsor to be Better Help since Dave Ramsey has clearly never been to a psychologist

  • @dallasdesigner300
    @dallasdesigner3007 ай бұрын

    Fun fact: Stick stickly is Forky's grandfather

  • @theresahana7210
    @theresahana72107 ай бұрын

    I like you George

  • @KiaraHargrove
    @KiaraHargrove7 ай бұрын

    🔥🔥🔥💯

  • @Mysteri0usMem0
    @Mysteri0usMem07 ай бұрын

    bro your boss made a fool of you. leave! you’ll be more successful on your own.

  • @Draega007

    @Draega007

    7 ай бұрын

    Probably under a contract

  • @ShaquilleOatmeal94
    @ShaquilleOatmeal947 ай бұрын

    4 life George

  • @britanny5363ify
    @britanny5363ify7 ай бұрын

    Whatever happened to stick stickley?!? I bet he’s got kids by now.

  • @stevenporter863
    @stevenporter8637 ай бұрын

    9:01 Wrong! The house you live in is always a liability. Can't be your primary home and an asset at the same time (despite what the general concesus is). 100% equity? Still a liability because of the sunken costs every year you have to pay just to maintain it (taxes, renovations, repairs, your otherwise free time, etc.) To tap that equity is an expensive and time consuming process, not liquid then you lose your place to live at the end of all that, unless you plow your profits back into the real estate market and repeat the whole process over.

  • @anhbarker
    @anhbarker7 ай бұрын

    Why did Dave get so bent out of shape? If you only need 4 or 5% of your investments when you retire, then only take that out. Why take more than you need?

  • @b.m.4066

    @b.m.4066

    7 ай бұрын

    That's fine if you only NEEDto take four or five percent, but everybody thinks that you can ONLY take 4% which causes people to worry and stress that they need to work longer and might not have enough for retirement

  • @baddanerachid8909
    @baddanerachid89097 ай бұрын

    Scammers are in the comment section, Pay attention !!!!

  • @richardrivera1725
    @richardrivera17257 ай бұрын

    3% or 4% ???

  • @b.m.4066

    @b.m.4066

    7 ай бұрын

    Use eight and you'll be fine

  • @untouchable360x
    @untouchable360x7 ай бұрын

    Starting OF is free.

  • @masonr1666
    @masonr16665 ай бұрын

    If you are starting at $0.00, Are you assuming you have transportation, and no debt; or are you assuming you have no debt and no car? If know debt, you are almost at baby step 3...it just a matter of getting $1,000.00.

  • @LotusKay36
    @LotusKay367 ай бұрын

    Also the way he spoke about you was uncalled for. It makes me wonder if he speaks on your name like that in front of a camera…what he is like off camera. Dave generally comes from the right place but I have to say, I lost a lot of respect for him when I saw how he spoke about you.

  • @acastr1234
    @acastr12347 ай бұрын

    Hmmm... A house is more of a liability

  • @AJohnson0325

    @AJohnson0325

    7 ай бұрын

    If you live in it then I agree. If a house is an asset then that would mean the bigger the house, the more of an asset it is but houses can make people broke and destroy generational wealth. That’s why a lot of mansions and chateaus get turned into tourist attractions and wedding venues because they are too expensive to maintain. You can sell and and get the cash but if you never sell it then it doesn’t really matter. Maintenance, repairs, property tax, and insurance will continue to go up. The best assets produce spendable cashflow. I’d rather have 10 million in dividend stocks than a 10 million dollar house.

  • @joeriveracomedy
    @joeriveracomedy7 ай бұрын

    Ocean breathes salty homie. Deep cutz or bust.

  • @sarak900
    @sarak9002 ай бұрын

    Hey I’m a 13 year old kid I want to make money but it’s hard because there arnt any jobs I can get in my area I love your video here but it’s close to impossible to start this because of my age if you have any ideas please help me out I don’t wanna work until I’m 65 and die at 75 from the stress of work that’s not freedom please help me

  • @mercedeswilkins9085
    @mercedeswilkins90857 ай бұрын

    Terry fator come to my job sometimes and even he said they don’t give you the whole million in once. It’s over 40 year and he’ll be over 80 before tegy pay it all to him. So he took the half million after taxes over $450k

  • @mhodge0890
    @mhodge08907 ай бұрын

    I don’t believe in no starter home I’m not rich.

  • @cameron-white
    @cameron-white29 күн бұрын

    I don’t want to be a millionaire by the time I’m a 70 year old cripple, I want to be a millionaire now so I can enjoy it while I’m young and travel the world. UK wages are poor so you can barely invest £200 per month (most people in the UK live in their overdraft and pay out more in bills than they receive in income). I wanna know how people my age (28) are making £1 million in 3 years? THAT’S the secret I want to know. 5 years of severe depression and constant research and I’ve still not found that out!

  • @jonr9574
    @jonr95747 ай бұрын

    Modest house can = big lost

  • @ryjoph89

    @ryjoph89

    7 ай бұрын

    Immodest house can = big DEBT

  • @tigerlily48
    @tigerlily487 ай бұрын

    God give people job but they never get no where at all

  • @Conradical2006
    @Conradical20067 ай бұрын

    $43k and counting

  • @sa34w
    @sa34w7 ай бұрын

    Is there any way to be a millionaire by 40?

  • @therationalistparty9742

    @therationalistparty9742

    7 ай бұрын

    That depends on how old you are now?

  • @pensacola321

    @pensacola321

    7 ай бұрын

    Sure, just get a million dollars by 40.

  • @wklause89
    @wklause897 ай бұрын

    Can’t do it 🙄 sooo many interruptions and funny video clips. It’s just too much for me. I’m out

  • @blackbutterfly233ify

    @blackbutterfly233ify

    7 ай бұрын

    It's not that serious so bye👋

  • @May-qb3vx

    @May-qb3vx

    7 ай бұрын

    The memes are what makes this stuff stick in my head for me and makes finance a lot less overwhelming. It’s just not your cup of tea and that’s fine

  • @2024FingersCrossed

    @2024FingersCrossed

    7 ай бұрын

    I love the cuts.