1:10 - Dave’s story of building wealth and losing it 5:06 - A brief history of get-rich-quick culture 15:27 - What “get-rich-quick” looks like today 16:56 - The effect of COVID on wealth building 22:10 - How to spot a get-rich-quick scheme 26:37 - True wealth building 29:05 - The 7 Baby Steps 30:04 - How people with average incomes can become millionaires 36:52 - The fastest right way to build wealth 44:02 - Stories of real-life Baby Steps Millionaires 49:28 - Why budgeting is the foundation of building wealth 54:14 - Why you should pay off debt before investing 58:34 - How inflation works and how to deal with it 1:05:51 - What’s going on with student loan forgiveness 1:09:53 - What you need to know about cryptocurrency 1:15:42 - How NFTs work and why you should avoid them 1:18:10 - Slow and steady wins every time 1:23:15 - Changing your family for generations
We recently sat down with Wyndham vacation resorts and they were trying to sell us more! At the cost of 130k!! We laughed and said "cash is king and debt is dumb"......My husband and I said "we are paying off our mortgage and then we can start saving cash to buy more Wyndham points" They said "Oh, Dave Ramsey" he's a marketing genius " . My husband and I said , well, he's a marketing genius who has cost us $0 on RU-vid and we have already paid you $30k!!!!!! Thank you gentlemen for your time but we are hungry for lunch and leaving you now!!!!!!!
Just to clarify.....we will NEVER buy more Wyndham points! We told Wyndham we are paying off our mortgage and they still kept trying to sell us more points.....but after I said we'd have to save the cash first.....joking....they looked stunned:0
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Your greatest wealth building tool is your income, when you give it to some else (NETFLIX) it's not yours anymore!!! You need to get a better understanding of Dave's teachings!!!
Followed my own program just like Dave by accident 20 years ago. Then read all his books and then used his process to be smart with money. Paid off two houses, vehicles, student debt and lived with love and happiness within 10 years by having common sense. Debt free and never look at my grocery bill. I am wealthy and do not resemble my childhood! My wife and I never had an argument over money, thank the Lord.
Almost debt free! 87k down to 27k in 2.5 years following Dave's plan! We get antsy wanting to move straight through to wealth building and we work this plan hard so it gets tough at times, but it really has relieved our stress with each passing month.
Keep it up, don't know your age, but I was a mess in my twenties and got it all straightened out between 29-35. Now life is heaven, getting income up is the best option, it takes a little work but now is the time to job shop, even if it isn't your dream job....take that income and payoff your debt! Then you can go find your dream job, and pay won't have to be the deciding factor.
I am from India and agree with almost everything said here.I retired recently at 58 and have zero debt and a net worth of just under 2 M USD.Currently I save almost 60 percent of my after tax income and need only about 15 percent for a comfortable existence. I am a CPA by training and have a good understanding of how money works.And the icing on the cake is that in India almost everything is atleast two thirds less expensive than in the US.
Well done. You have your culture working for you, too. Western culture is very, very wasteful. It's the entire mentality of extreme spending on debt that's driving us into the abyss, on top of what Dave was describing. I've house-shared with Indians abroad -among other nationalities-. You guys have a lot more respect for money that we ever will. We crave money and think that's respect. But once we make it, we flush it down the toilet.
Yes...India is less expensive....We are taught to save and live a frugal and minimalist life style...it's in our mindset which is passed on by our ancestors...
@@rimmel10 I guess it is equivalent to about 8 M in the USA if PPP is the yardstick. More than enough for this lifetime , especially because I may have about 15 more years left at best. Hope to leave a sizeable chunk to my only daughter who is now 30 years old.
I was young but I remember the Carter days. Waiting in long lines for over two hours to fill up the car, eating too much Mac & Cheese and hot dogs and the like because that's all my parents could afford. I'm so grateful for Dave & Crew and all that they do to try and help change the narrative of people's lives. I'm hopeful that this country can once again be strong and self-sufficient.
It wasn't Carter's fault if your patents were poor. There were poor people during the Regan years, the Clinton years and the Obama years as well the bush years.
I'm just like Rachel! My parents took financial peace when I was in middle school and now they are baby steps millionaires. I am a 23 year old living on my own starting my own journey. This stuff really works!!!!
We took a Dave Ramsey “Baby Steps” class about 12 years ago. The class met once a week for 10 weeks at a church. Within 30 months of the end of the class, we were debt free. It was trying, but not that difficult. Willpower and achievement was our driving force and it was worth every minute of it. Watching these videos again are now entertaining because I know it works. Thank you Dave Ramsey for these videos. If you want to learn, you can accomplish anything.
I have a financial dilema currently that I could do with some advice on.. Can I pick your brain you seem to know more than I do at least and another opinion would br much appteciated
I am a big fan of Dave Ramsey … because of him, I am almost debt free … will stay debt free forever… will help my friends ….. Thanks 🙏 Dave .. God Bless You!!!!!
The thing about inflation in the 80s was that, yes there was high inflation, but the salaries were higher than the inflation rate. Today, the salaries are below the inflation rate.
I am from South Africa and am debt free thank God for the grace. My focus now is to build wealth. I will appreciate support in my journey towards building wealth.
Papa Ramsey i always call him. Nice to see you in 2022 and thank you for continued to teach us how to be debt free. Heart you big Sir and thank you for all you are doing. God bless.
Bro, I spent my time from 2015-2019 saving everryythinnngg to pay off my 2016 Honda Civic, $27k... debt free still have the same car, feels so good to have $20k and a car paid off, and im 31 years old. currently working but I want to start an online business to crank up my net worth. saving everything I used to throw at my debt and helping my parents build their savings. For us regular people, we have to grind more to stay out of poverty AND help those who help us.
This is awesome! I have a similar story. My husband and I bought a $28k 2018 hybrid (Chevy volt) in December, but we have a plan to have it paid off by July, the latest. By that time, we will also have around $30k in savings and are also 30 and 31yrs old. Next, we are going to tackle student loans. It will take a while, debt free is achievable if your disciplined.
I love DR and we're on our BS2 journey. Was I the only one hoping this wasn't the same info we hear on the radio show?? I was hoping they would talk more about investing and the particulars of doing so. Love you guys and what you do!
Love listening to Dave. So many of us who wish we had learnt earlier - common hindsight comment I know. Would love to see Ramsey Solutions in Australia.
I just am addicted to you guys, I am inspired since 2018. Beginning is probably the hardest part cause it slaps you in the face! True commitment will see you through. Thank you so much!
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Isn't is strange that people with a high income also have high spendings? So net, they're not better than any average earner. It's always mind-blowing to me that especially those high-earners don't save and invest😐
Keeping up with the Jones is really expensive theses days. Dave says “We buy things we don't need with money we don't have to impress people we don't like.” LOL
Prepandemic, I could easily get my groceries averaging under $100 a week. Now, I am lucky if I spend less than $120 per week. I am thankful for having a little buffer to weather this inflation storm
I just discover this. I must say it is very educated and refreshing. I am 64, visual impaired I would love to change my life, especially for my two grandsons, just born.
I forgot to mention that I am 85 years old. I have a degree in electrical engineering. I love this house, it’s in a low crime neighborhood. It’s on a low traffic street with large lots. My s on makes Good money and helps out when needed. He has two college degrees and no Dept. My point is that education pays.
I would love to see Elon Musk on the Dave Ramsey show. I follow Dave, but love what Musk is doing as far as SpaceX and Tesla. As well as Musk's views on the future of technology and civilization.
Great discussion and topics . I do have a different point of view regarding the Regan years economic policies , which are proven to have been the main cause of the erosion of us middle class . Thanks as always for doing this show Dave !
I may be a bit slow. I understand the investments towards the future/ retirement. But how about my standard of living now in the present. The future is not guarantee for anyone. We’re not in debt only one salary coming in prices of food and rent has gone up faster than my income. I’m playing catch-up. Need guidance please.
Solid advice from start to finish. Coincidently, Warren Buffett's biography is "The Snowball", and many of Dave's proverbs were in a book " The Millionaire Next-door."
Dave is good at what he teaches. But am not impressed by any other person who is trying to take the stage with Dave. Rachel might do good in books. But she is not at all good on stage like Dave does. I prefer to listen to Dave only rather than other people who are promoting books .
I used to save but then I ran into trouble at my work and got demoted. Now for almost a year in October, this year will be a year and I saved nothing. I am trying to start saving again but this time do it better than in my younger day. Dave, please remind the people to remember their creator because money can turn into a god for all people; thank you, Dave, I discovered you in 2012 and your baby steps as well as the great I AM helped me to become financially independent with a loving heart.
Wow I'm so motivated you're such a great motivational speaker after listening to you I don't want to try anything I just want to die I feel like I'm not worthy of being rich I didn't live like you I didn't do the things that you do so I can't go back in time and change that I might as well just roll over and die listening to you that's the advice
I sometimes feel the same way. Hang in there. We just need to start again. Im now 51 and just gotta get uo and keep going. Stay safe and cheer up. We can do this 👍💃🙈😘
Wasn't gas $2.79 back in 2018 for regular? Then it way down during lock down, and then way up again after? I am pretty sure oil prices are based on speculation, like stocks.
"There is nothing new under the Sun" is from Ecclesiastes and was said by Solomon while in a state of depression. He later recanted that and it was never meant as a way of thinking for Christians.
Avoid debt. Cut costs. spend less, earn more and invest passively The best way to find that balance between saving and living is by investing..what i can say to early investors is diversification and solid management. thanks to having an adviser, ever so grateful to Rita Wildrin Mora..
I followed most of your advice and it has worked out well for me. Now I did not pay cash for home as this is not realistic in California unless you are a gazillionaire.
