At this point they need to exchange money for time (I.e. housekeepers, online grocery shopping, outsourcing labor etc), and go places/do things they want to do while they are still young/able

@NeyJ

2 жыл бұрын

Interesting point! next step is free up as much time as possible

@palazzolo85

2 жыл бұрын

@ Gabe Smith, this is great advice. I started doing this when I became debt free. Landscaping took me hours per week. Now I easily pay someone to do it and I get time in return. Time is our most precious thing!

@sophiablakes

2 жыл бұрын

@@paulsmith2279 Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

Before deciding to give to an organization, look up their IRS Form 990 to determine if they're responsible and actually doing what they purpose to do. It's tough to find a decent non-profit. Be diligent.

@Rashaadthegr8

2 жыл бұрын

How do I do that?

Replenishing my emergency fund has been a challenge. Got it up to 20k then life happened. Needed new roof and entire hvac system.

@insideoutsideupsidedown2218

2 жыл бұрын

You can plan for these repairs.

@aaront936

2 жыл бұрын

Maybe look into tax lost harvesting to replenish your emergency fund if you have investments in a taxable account.

@Nys-rp7ow

Жыл бұрын

I hear u man thank god u had the money in emergency fund and didn’t have to put it on credit. Just build it back up u got this. I had something happen my car needed two repairs thank god I had the money in emergency fund and didn’t have to put it on credit minor unconvinced would I have liked to save that money to build up my emergency fund more yes. But that’s why we have it for emergencies keep pushing Man U got this !

They are killing it. Time to make generational wealth and fill your life with meaningful experiences. A huge bank balance is nothing without enjoying it.

We try to run toyota corolla until the wheels fall off. That thing just keeps going (we do change oils & other maintenance items at defined intervals)

@alinatamashevich3354

2 жыл бұрын

Hope you like the color, it will be around a long time! One of my employees sold a Camry with 330K miles, bought a new one....same color! She put it out front with price of 1K. Guy came in offered 700 cash. He drove away a happy man.

Great advice thank you

Outstanding and just plain amazing. Congratulations to anyone at any age feeling that level of success. ❤️

@andrem1238

2 жыл бұрын

WOW! ✨

Awesome video👏🏿👍🏿 Give Save n Spend

Since I am already on baby step 7 I invest about 40%.

@stephanieb5019

3 ай бұрын

Did you invest in only the S&P 500? Or you expanded to more in investing?

@Rashaadthegr8

3 ай бұрын

@@stephanieb5019 I invest in ROTH 401K, Roth IRA, and a brokerage account.

Time to live like no one else

@DreamClean

2 жыл бұрын

So that later she can live like no one else. Oh wait, she already on that part.

What's their household income? That's the question that should have been asked.

@Lon1001

2 жыл бұрын

Average engineer in Dallas with 10 years exp is like $106k, but if they are talented (which based on their financial success they probably are) they could be each earning $150-180k... so I'd guess probably ~$300k/yr

Congrats! They say your first 5 million is toughest to get.

@sophiablakes

2 жыл бұрын

Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

Have some fun with the money

@sophiablakes

2 жыл бұрын

Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

Baby step 8: gamble it all away and start the game over!! :)

@matyasfegyver2898

10 ай бұрын

Stupid advice

Ah... I knew there would be a toyota truck man somewhere in the Ramsey tribe

Anyone got a link to when she speaks about what she did to get where she is?

If enjoyment, charity, and investment allocations = 100%, then that leaves 0% for food, shelter upkeep and taxes. Clearly means AFTER that stuff

@JamesSmith-cm7sg

2 жыл бұрын

Nope, pretty sure he means don't eat and don't pay your taxes.

I love Dallas tx

Time to buy some income producing real estate.

Dave : “ you got this ?” Rachel: “ give, save and spend.. now wha..” Dave: “ naaa I got this , so take a percentage” Classic Dave loves the center of attention.

How does millionaire work for married couples? 1 million net worth together, so only 500k per person, or does a couple need 2 mil to be millionaires?

@kathleenr8839

2 жыл бұрын

I think about this too. My take is that if married, one might say the two have become one, and legal documents also can bind you together, therefore as soon as you reach a million together as a couple you are considered millionaires. As for retirement and living expenses, you two only have one house payment, and perhaps share other things, lowering your individual costs of living. Therefore reaching a million dollar mark is not quite split in half, but is still shared and you may want a little more for a comfortable retirement.

@mannyjeanpierre4062

2 жыл бұрын

Its together. 90% of the millionaires they surveyed were married and owned homes. Makes it easier

@kuryanthomas1438

2 жыл бұрын

in their case and (how dave does it) they are worth over 1 million together now. But i would say the way they are going in a matter of couple years it will be 1 million per spouse. and pretty soon they will be deca millionaires.!

Two engineers in pre-covid dallas area (when single family house in nice area used to cost 350k) would do it. If they are software engineers, they probably had combined income of $300k or more.

The Fisher House is another good charity

@sophiablakes

2 жыл бұрын

Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

How can I call? I have an interesting story for the show. I have miraculously just skipped from step 0 (borrowing money) to steps 5-6 where I have a nice chunk to put into something and watch it grow. How can I turn say 20k to $200k in the next 5-10 years? How can I learn the stock market or investment strategies with the little chunk that is left ? By the way, my former boss put me onto Dave about a year or so ago as he himself is a millionaire

@wewhoareabouttodiesaluteyo9303

2 жыл бұрын

I'd state in high yielding dividend ETFs.

@aaront936

2 жыл бұрын

Unless you're planning to pay high fees to Dave's "smart vestors" I'd say skip the call and put it in a low cost index fund.

@blackmuslimconservative

2 жыл бұрын

I would advise reading his book Total Money Makeover to give you a cleared picture. You may not need to call after reading the book.

Honestly, if I were them, I would keep pushing the $ limits. Inflation is high now and even if you completed some program (baby steps), Murphy's law is still out there to affect you. I am actually really afraid for the husband if a divorce happens because he can lose a lot. But yes, just keep pushing, keep making $. It never hurts to save and keep it going.

That's the point where you get people -- butlers, nannies, landscapers, chefs

Give. There's a lot of less fortunate people out there.

@ayv-

2 жыл бұрын

enabling

Don't go to college. Go get a trade. They said.

@sophiablakes

2 жыл бұрын

Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

What would have happened if Rachel didn't remember those 3 things ! 😉

@joetyler835

2 жыл бұрын

spank

@sophiablakes

2 жыл бұрын

Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

@shawnjackson4458

2 жыл бұрын

He woulda grown some hair back, grown a 6-pack and yelled YOU'RE FIIIRRREEEEDDDDD!!!!!!

Rachel was born on baby step 7

@allenpriest8985

2 жыл бұрын

Actually she wasn't. She was born as Dave and Sharon were losing everything and declaring bankruptcy

@kuryanthomas1438

2 жыл бұрын

yep only dave's son was born when dave was on step 7.

@robloxvids2233

2 жыл бұрын

I love having a super rich 32 year old admitted "spender" telling people how to handle money. Very genuine.

@philfalgout1

2 жыл бұрын

Allen. I guarantee you shes never had to worry about money. She may not of been born on third base but she got there pretty quickly. Dont blame her at all.

@alinatamashevich3354

2 жыл бұрын

@@philfalgout1 Never forget, she slips up she is out. Dave would kick her to the curb quick. It put some high earning co-host out the door quick as well.

Wow. 7 figures net worth in your early 30s. If in doubt where to send extra money, there are a whole lot of worthy private charities that help the less well off.

@ponolovefarms3926

2 жыл бұрын

St. Jude is definitely one of the best. I prefer the Animal shelter in Wedowee Alabama

@countrifried

2 жыл бұрын

Just send it right to my bank account! Very charitable donation 😁😁😁 (Please don’t take this comment seriously….)

If her and her husband are both engineers they are very likely earning too much to contribute to their Roths but she said they were maxing them out. She’s either not being truthful (not on purpose) or they are contributing when they are not allowed.

@joeberg5248

2 жыл бұрын

$208,000 is the income limit for married filing joint. It’s possible they make under that and have just been saving lots every year. It also might be a Roth 401k? Those have no income limits.

@josephsantangelo2801

2 жыл бұрын

@@joeberg5248 agreed. And the 208k limit is ridiculous. Too low for married couples with college degrees.

@mysticquetzal87

2 жыл бұрын

if you make too much you can invest in a traditional IRA then convert it to a Roth

@jasonisbell7181

2 жыл бұрын

@@josephsantangelo2801 I'd say most couples with college degrees are not making that much.

@josephsantangelo2801

2 жыл бұрын

@@jasonisbell7181 Maybe not in their 20s or 30s but in 40s at peak earning/career I’d guess most are. But I have no idea or data. Just a guess

Wow, 2 high income married people who paid off their house, who would have guessed? What about the single parents who make little income? Guess we eat rice and beans and be lucky if i payoff the house in 22 years by paying a little extra on the principal each month. My employer doesnt have a 401k so i do my own mutual fund but cant do much. So i will be on step 4-6 for a while and may never get to 7

Baby step 8 - back on beans and rice, rice and beans. Sell your call too.

@JustinCase780

2 жыл бұрын

And deliver pizzas at night and drive Uber. Sleep isn't part of Baby Step 8. 😂

@bellabobbybob3476

2 жыл бұрын

Hahahahaha, thanks for this joke!

You realize they make $500K per year. Thats why. You people who make under $100K have no chance.

It’s kind of annoying how Dave is talking over the caller

LOL - he's actually advising her to waste her money on stupid things?

@thatclutchgaming1059

2 жыл бұрын

Why wouldn't he? They can afford it unlike most Americans

@sophiablakes

2 жыл бұрын

Hey dear, I’ve got great info that’ll help you create wealth. People have been complaining about a crypto broker that can help in trading.I discovered a renowned broker & I recommend Investor Mrs Karen Gaye Gray for more details you can have a quick look of her name online to see for yourself and reach out to her.

@DreamClean

2 жыл бұрын

A percentage, yes. She's 32 and already wealthy - time to enjoy life.

Your constant need to prop up and validate people with over a million dollars is unhealthy. No one, really, has a shot at doing that unless they've been given special circumstances in life. She is married. Single people don't stand a chance, especially with how rigged life is against those who never marry. Stop making everyone constantly feel like failures just because they don't have a million dollars. It's wrong!

@aaront936

2 жыл бұрын

Your mindset will keep you poor.

@alinatamashevich3354

2 жыл бұрын

@@aaront936 Ditto!

@alinatamashevich3354

2 жыл бұрын

@rnt45t1, you need to change your mindset. Sit down list all your financials on a whiteboard. Then set a goal and a plan. Do not be afraid to get advice. The mountain looks really big until you climb it.

@NeyJ

2 жыл бұрын

Even if life was rigged against you, the mindset that it’s just not worth trying because of that means you’ll miss the few opportunities that might have let you break through. Be positive and work hard.