Dave Ramsey Explains "The Secrets Of The Rich" 

@PoopCoin Patrick the point is not entirely to avoid things you don't understand. The point is also to learn more about ventures you need to understand if you want to make money from them. Then after you have the knowledge, go for it.

SAME. I really understand the video game world so when I hit baby step 7 that will probably be what I invest in tbh because I live in the world from the consumer side a lot. Can't wait to get there and give a 1000 dollar tip while I enjoy pizza from pizza hut all at the same time!

The genius of any working system is inversely proportional to its complexity. Look at either the clean simplicity of the laws of physics or the Byzantine complexity of the tax code as proof in either direction. Like Newton's laws, the 7 baby steps are both simple and brilliant.

The only single stocks I ever buy are brands in my house that I know are of high quality and those companies have good financials.

@@JB-kx9bx - good idea.

My 2003 Sierra has 202k. I will drive it until the wheels fall off.

Thanks for sharing the insightful advice -- I am writing it down to revisit it for motivation.

2017 aston martins are available around 30k. Even partying is budget friendly. Go second hand 💪💪

Your wife is an intelligent & sentient being… and has your happiness in her spirit. Now that my friends is what I would call a gem! And a wife/friend/lover….. more of us men need!!

😊

Exactly. I do much better when I don't gamble my money and save it instead

@PoopCoin Patrick I think you always have to work hard. I have a saying. "I work hard so I don't have to work hard." At work, I worked hard to learn computer programming and wrote hundreds of pages of computer code to automate many of my tasks. Now I dominate and produce work the same work as others in half the time. Now I am working hard to learn how to make websites and how to sell products online. I have made a few thousand and about to make more. I spend tons of time and money to learn. You have to always be learning. When you learn something new, then you want to learn more. Make more money by learning different things. This makes it less boring than a traditional job. I do know is that you will never become rich faster working a Traditional job. Best thing I ever did was to stop watching TV. You be amazed on how much you can learn and how much you can get done. My best recommendation to start out is reading any book written by Brian Tracy. That guy is a legend when it comes to increasing your productivity.

@PoopCoin Patrick yes once you are wealthy enough you can then be lazy 😉

Yup. Some great advice I got once was that you get rich slowly.

Getting rich fast is wolf of wall street, Jordan Belfart behavior, open thievery, wealthy guys I know that do exactly the OPPOSITE to what Ramsey teaches work their model for at least 10-15 years before real Patek Philippe level success.

How are you doing now?

Congrats buddy. Keep it up

Update?

PoopCoin Patrick I posted a video on my page talking about the top 5 dividend stocks I would buy! See that and it will give you a good idea

You should have recommended precious metals.

That was awesome lol

Truth typically stings a little.

I've heard this in different forms many times. I once heard a man worth 50 million tell someone "If you had all the great decisions you would be the one with all the money."

Dave Ramsey is like the father most of us never had. Those of us with degrees tend to be on our high horses just because we have a degree in gender studies/ethnic studies/whatever. Dave is just trying to bring people down to reality. If you're in debt and/or not wealthy you have no business giving financial advice (unless it's what's not to do).

the time is no forgiving, the conditions when he got this money passed long time ago. we have new environment now.

HE IS HILARI0US L0L0L I L0VE WHEN HE SAID HE WAS A CAPITALIST PIG HAHAHAH!

PREACH!

I see people at my work who I know make half of what I make who drive nicer cars than I do (which isn’t hard, but my cars are all paid for) and have nicer clothes and newer phones.

Not really the case . There are a lot of rich people who enjoy their money and spend LAVISHLY. They live in mansions and own a lot of things

ciel222 that is the ultra rich and broke people who live like that. The lotto winners live like that for a few years before going broke.

Simple!!!!

Doesn’t mean you can’t try something new, just need to do your research first.

bodhi tree 😂😂😂

😂😂🤣🤣

Ur awesome lol

@@justinacase2623 lol

in my local language here goob(ay) means a stupid owl

What's funny is these days people use the word 'goof', only one letter off.

😂😂😂😂

It's not too late.

Better now than never! Start today!

I know right.

"It's only too late when we quit." If you're 60 years old now and live to be 90, you have 30 years to be where you want to be. When you look back then, you have gone so far with all your accomplishments in life. Cheers!

However, you don’t think Dave Ramsey got rich by just following his own advice. He got rich telling Christians that God put financial advice in the bible. Christians will give you lots of money if you tell them God wants them to.

AMEN AND AMEN

Ibidun Layi-Ojo, yes, we heard him say that.

HE WAS V ERY C0RRECT WHEN HE SAID THAT

They don’t want to learn, they just want to make excuse. “You don’t understand,” goes hand-in-hand with “I can’t.” We all make choices. Don’t let them know what you have.

Exactly.

by the time I hit 60, idk how much being a millionaire still means...

@@cherrytung Take care of yourself now so that at 60 you can still enjoy it.

That's what goes through my mind, yes it will be nice to enjoy your fruits when we're 60, but how many of us are gonna be up for traveling, or enjoying the word at that age. Small percentage.

James D Once you’re debt free except for the house, you can eat something other than rice and beans, see the inside of a restaurant as a customer and take vacations. Hopefully people aren’t waiting until retirement to enjoy (some) of their hard work. We enjoyed life along the way.

Very inspirational! Well done 👍🏼

makes me laugh each time he does that! hahahah

KREMIT the frog. Look it up. Lol

🤣🤣🤣

😂😂😂😂

it'sGeenie 🤣🤣

I’m sold as well.. do they take MasterCard?

Just be careful, the landing on that is a b*tch.

I tend toward perfectionism so I'm versing myself enough to just get started SOMEWHERE. Try setting a deadline to at least set up a brokerage account or whatever route your taking.

Put money in things that will make you money (healthy, education and Assets)

invest in knowledge before you invest in anything else :)

Same here!

@P Maitra knowledge does not have to come from traditional education... you can learn so much for free online.

It is a great start!

@@robertspencer5219 so true once i paid my big debts off i felt like new man

Except he is obviously wrong. Simple primary school math will tell you that, and people like Graham Stephen are living proof that using debt to gain wealth is vastly superior.

@@Corpsecreate if using debt was the best way towards wealth why are there so many people in poverty. I myself like and follow graham but you forget graham started at 0 with no debt, got into real estate and then saved and created wealth. Graham didnt use debt initially to create wealth. know your facts man

@@RichAction I used Graham as an example. My understanding is that he did not buy his first property with cash, but rather a 30 year mortgage and began accumulating rental properties, all with mortgages. Bad debt is obviously bad debt - I'm not suggesting you should have outstanding credit card debt or taking loans out to buy cars that lose value, thats just stealing from your future self, not using debt to increase net worth. The facts are that the numbers suggest that leveraging debt accumulates wealth. Using Dave Ramseys numbers in the range of 10% investment returns vs the current mortgage rates at approx 3%: Paying off Debt (3%) / Investing (10%) 1. +3% / +10% 2. +6.9% / +21% 3. +9.3% / +33.1% 4. +12.6% / +46.4% Now you can make the argument that risk is not taken into account, and you'd be right. but even in this little example, the two net worth figures come to 1.126 and 1.464, a simple division tells you how much of a market crash you can absorb to still be on-par with paying down debt: 1.126 / 1.464 - 1 = -23.1% So if after only 4 years of investing, you experience a 23.1% loss on your investments (which is harsh, considering a smart investor would be diversified), you would still have the same networth as paying down debt. If you do this over a 10 year horizon, you can weather a 48.2% loss.

Rachel M. Hmmm...others have done the same thing before DR...he has structured it.

Craig can you teach me how to run a lawn company? I want to open one here in Az

Please do...

Very very true.

Smart man

The door is always open for you to come into the Catholic Church .... we love you!

Oink!

@PoopCoin Patrick he is Helping them

Why would liberals not like him riding the car he has earned? That jab at Americans doesn’t make sense to me. As long as he’s not avoiding his tax obligations since he’s living in a society, then he’s free to live his life however he wants unlike conservatives who want to control peoples bodies.

So am I. Capitalism ROCKS. ❤

No Debt But Love My charity is open. Hands open! Seriously though why don't these wealthy people give to individual people? Only 50-70% of money to charity goes to the actual cause. 100% given to me would be carefully used.

It’s new and it’s cool!