Saved 1.7 million and afraid to spend it 

Wish I had this problem

It has blown my mind. Saving 1.7 million in what a few tens of years. Wow lost like a shitload on inflation while not investing. This dude behaves like a poor man which has some money. He could have easily invested this money for instance into real estate which is a save investment gaining something near 50 million by now. And even life really like what he meant by being rich. But hey that's the unknown what isn't told at the young age back then. People please learn compounding/investing and learn to use the internet all rich information is available for free. There are no secrets anymore.

+Teby Bear I think you're making an incorrect assumption - that he simply has 1.7 million dollars saved up in the bank. Most likely he has 1.7 million in savings and investments. Notice that he said he talked his wife into investing the maximum into her 401K. So he's talking investments as well when saying they've saved 1.7 million. Easy to understand why you'd thought it was simply 1.7 million in the bank - and if that were the case you're comments would be spot on!

you can, seriously. All in how you live.

and here i have 2k and behave like i am a millionaire lol

+ShakespeareanMetalhead awesome guy

Yes sir.

Reading this comment and the title I thought you were being sarcastic but then I actually watched the video haha

Makes me love my country just a little bit more.

very very very very classical humble guy who saved milllion $ when avarage house is half million. Dollar is worthless and soon be totally worthless. And that super humble guy will keep on saving in digital $ in a bank. Good luck.

True, but that's how you build wealth. Spending equal to or more than you have is a great way 'look' rich, but not have any riches. To build wealth you gotta spend less than you make to be able to have extra, to save/invest it

That's how you do it though, I know people that have $3k in clothes and shoes, smoke, drink, and parties every weekend, but walks to the store for groceries and can barely keep the lights on.

My dream car is a Lincoln Towncar. Not a NEW Lincoln Towncar bur one that is 20 to 30 years old. They looked great back then. You can find a gently used "land yacht" (like my late brother called them) for between $3,000 and $5,000. Much cheaper than the modern status symbols and much better looking. It's an inexpensive way to look and feel great. The hunt for that gorgeous piece of history is half the fun as well.

Tom Newman I thought they stopped making them

Clothes are even cheaper at the thrift store. 😊

Bro you got almost $13 billion in 2017. We all know you aren't scared of spending.

@@tucker2251 13 on paper, probably 100 billion or better in dark money

Same.. you have to replace the difference somehow. Big purchases are still a no no

Who killed kennedy

CIA? What fucken' CIA doing in this channel?

Or spent $15,000, then burnt through the $1,700,000 within a month😂😂😂

j00 let’s hope not. He seems like a great dude

yummy Haha. He’s going to be fine, just invest in real estate. All good.

wich we all love

LOLOLOL, yep!

Agreed... Like the old WW II Clark Gable submarine movie... "Run Silent, Run Deep"

Agreed!

Yup, as long as he has cheese he will always have rats. 😂😂😂😂😂😂😂😂

depends, in college their are children of millonaires who don't get abused financially at all. THat's my lucky case.

A M, you're exactly correct

Archer such a good book

Stinge more like

Abigail Robbins not a bad addiction.

That would be me because of having to struggle so hard. I understand his psychological issue.

It really is an addiction because there's no legacy no children to leave it for then it would make sense.

It's a good addiction.... better than a spending addiction

I need that need addiction!

It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor.

I agree, having a financial - advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I need some management on my much larger portfolio. Don't want to take any chances.

Rebecca Noblett Roberts 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..

Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

+Roscoe Crawford You better not have any kids like this guy though. Kids are super expensive. Think like $200k each over the ages of 0-24.

yeah you can if you live like this guy and do NOTHING your entire life until you are almost 70 but save.

People waste money on kids the same way that they waste money on themselves. Kids don't need to cost 250,000 each. My parents reckon they spent about 50k on each of us up to 11, then about 40k up to college, when we each had the choice of either a) full time college and part time work (which we paid them 50% of), b) moving out by ourselves and doing whatever we wanted, or c) working full time and paying them rent (staggered from 20-100% of the local rate from age 16 to 20). None of us received a penny for college, uni, learning to drive, house deposits or anything. In fact, I've never been able to afford driving lessons so I simply don't have a car (which has, in hindsight, saved me a TON of money). They were very strict with us and had us working part time jobs from 11 (paper rounds, cleaning, neighbourhood DIY, mini stalls selling stuff outside the house, allotment work, tech support, etc). In fact, my dad likes to brag that he made a profit from age 17 up as we all had to move back home at various times and pay him full rent (extra for phone, internet, travel, own food and anything else we wanted on top). 250k is just a parenting fail! Edit: I'll also add that as a result, my sister owns a home at 25 (unheard of where I live), my brothers both have their own companies and will likely hit the million mark by 35, and despite being unemployed/underemployed throughout the recession (and paying out £18k on non-cosmetic medical treatments) I have paid off all my uni and other debt and have £15k in savings/investments now (which is growing much faster now that all my spare income goes towards it). So despite hating my parents as a teen/young adult, their approach was beneficial in the long run.

That 180K would me 2 million right now.. .buahahaaaaa.....

BritBit How do you function as an adult without transportation? What city do you live in?

Well that's southerners for you (except for Florida).

OmarOmarOmar well that’s only southerners

And Coloradans

You love huh....

I’m Asian but I still say those🤷‍♂️

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.

Svetlana Sarkisian Chowdhury 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..

Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.{

Scam alert 🚨

No, he's not. He's old, got all that money but no time left in the hourglass.

​@@kapligerWhat exactly do you mean? You think it was a waste of time to save money?

+ReeseTheComedian hahaha, #thestruggle

save like this guy and you can have these problems.

work for these problems

Nobody gave it to him. He earned it through a lifetime of saving! You can do it too!

ReeseTheComedian classic liberal..."gimme,gimme,gimme"

Dave: “Sell your soul”

i read that in his voice

And they would have had more experiences then 99% of ppl and would have loved it

$7,000 per cruise * 100 cruises = less than 1/2 his money. He could just stay on the cruise for the next two years. Crazy isn't it?

@@Iffy50 this guy could literally live on a cruise ship if he did it modestly and still never run out of money. You can live on a cruise ship for around 100k/year easy.

Aleks Ulmer bruhhhh!!! I'd love to be able to talk like that!

8000 on a cruise is insane 8k can take you around the world exploring cultures and cities

KWT i wouldnt go that far but yeah

CJ05ful move to the right place. it'll happen to you too.

@@TheMadridTv Youd be surprised what 8k could really get you... lol

ollieone051 that’s what I’m afraid will happen to this guy, you just feel wrong doing it. But I suppose it’s that muscle Dave is talking about. Problem is, working that “spending muscle” (multiple smaller purchases) feels just as bad as doing a one time cruise for double than he’s used to spending.

Yep. But it's not a bad thing. This attitude to money got him to a good place.

I agree completely with you. In addition, why is this such a big deal. A couple of old men told me once that they had seen everything. i kind of understand what they are saying. I have seen the ocean, islands, boats, buffet lines, ......So What? Its the same thing. I would rather have a project.

True, though it's ok to be thrifty and rich imo. If I get to a point of having more money than I know what to do with, I probably wouldn't want to spend it on lavish living still. Maybe to some extent, start living a better qualify of life, but not go crazy with it. I'd rather use the excess on other things which I'd find more meaningful, or giving more to others who have needs to be met, etc I guess it depends on the person. I have a pride or feel accomplished in some senses when I can get a good deal and save money. As long as you aren't detrimentally not spending (i.e. not spending the money when you need to take care of repairs, or say buying a low quality car such that it loses reliability and you lose safety from it), then I think it's ok to not spend extravagantly. On the other hand, you can't take your money with you when you die, so if you can't use the money to bless others once you're gone, it just gets lost. And I know of one guy who didn't take care of fixing the roof of his house, put it off for too long, and the roof collapsed and he basically lost all value on the entire house (so, by not paying $10-25k for the roof repair, lost like $150-250k I'd guess). So sometimes you gotta pay extra for the higher quality or to take care of the existing things you have

@@caribbeanbound8357 You can make memories anywhere, but it is good to have vacations for mental reasons. the key is for them to be within your means. If you make 150k a year and you have no credit card debt, you could afford a 7k vacation every year, if not 2. I'm currently working on fixing our debt situation, and planning to eventually institute a saving plan to allow us to have 2 vacations a year, one cheap, one more moderately pricey but still within our means.

right, I noticed that too

Pretty close to him at age 39, can confirm. Having no kids is great for saving lol

Kyle Paton I have two kids and have saved as well. Two incomes, prudent spending, maxing 401k + catch-up allowance, 40% saving, and smart investing. I was taught by my banker grandfather. Saving is a lost concept these days.

@@briankrian3834 Key word two incomes. If you had no kids and dual incomes you would be better off financially. In my area you can't even begin to afford a median priced home as a single earner unless you have 200k a year on your own. Most people marry to have any semblance of a middle class life. Imagine being a single earner, that 40% savings would be impossible after your investments. Necessitating having to reduce your investment contributions thus reducing your retirement. Working as an employee is a sure fire way to risk your retirement plus adding kids is an added risk. You are better off saving and financing a business loan and starting your own Starbucks franchise than some investments. Run it at a loss for 3 years.

Yes, sir

Ouch. Very true.

That is true unfortunately. I have a bachelors degree and I don't regret it for a minute since I am employable (RN), but I feel terrible for these kids that have incurred student loan debt only to have poor job prospects. I try to advise young people to get into plumbing. There will always be a need for plumbers and most people would stick their nose up at it.

Attitude and work ethic, not degree or pedigree.

Muhammad Raj If there's a job for them. But weve gotten to the point where society encourages students to pursue "good careers," meanwhile employers are struggling to fill over five million jobs that no ones trained to do, from plumbers, sewer cleaners, welders, construction. Don't follow everyone else, go the other way if you want to succeed. Mike Rowe (Dirty Jobs show host) talked to a septic tank cleaner who was a multi millionaire once. That really inspired me to skip college, and go for a trade school.

It Works his wife worked in insurance so it was a two income and he admitted she put in more than he did in their nest egg.

Ahem... you'd be surprised at how many "Southern Gentlemen" are not millionaires relative to the rest of the country though.

GermantownFamily not money millionaires, but what's more important, manners or money?

+Musa I of Mali- lol, there's that fake black musa as per usual.

I don't get it. He's a millionaire because of Southern respect? What do you mean?

All his neighbors are likely on welfare however which is the case in most of the south

🤣

So funny

Ha! but I bet he orders rice and beans!

😂😂😂

@@_Y.Not_ Once a month he can get a salad to go with it.

Money NEVER gos to waste... my daughter can have what’s there

@@767dag True. He can always hand it down to the kids and they can enjoy the inheritance. That's nice. :)

Good luck

Hows that flipping business going now?

how did it go

that' 30k could easily be 10 million by the time you retire if you buy some good stocks

T D 😂😂😂😂

@harrietlancaster44 Just for anyone who happens to stumble on this, the entire thread above is scammers trying to steal your money.

Putseller100 Kids are pretty expensive

Putseller100 He could still be sitting on 1.7 million with children. There are plenty of people that do it.

Putseller100 Sir, I have 3 kids and I am on my way to become financially set like this caller. And his kids are probably grown and gone he is in is 60s. Kids are not an excuse. The key here is that this gentlemen and his wife manage to save over time. Bingo!!!!

That's with an electrician's salary. Imagine having an engineering/medical/accountant career. :)

+Lilly Lyra Electrician's make good money, specially master electricians which is what the caller sounds like. I've heard of master electricians making more than a doctor salary running their own business with none of the schooling cost. Only career of those three that make considerably more would be once you acquire very expensive master/doctorate degrees in those fields (medical/engineering). Accounting is the only exception of the three (bachelors is usually enough) but can require opening your own practice or getting very lucky in a full time job.

soonermagic24 yea if you got your degree at USA 😹😹😹

Mark Mccusker what’s your point?

thats because they are brainwashed into thinking you need college in order to make a good living

soonermagic24 college is free almost every where else

Peyton Gwaltney you’re a schmuck if you think paying 30% more taxes for your entire working life, makes something free. If I paid additional tax that most people do, I could’ve saved 1.4 million over my working career. Hardly free dipshit

Yeah, there is alot of sense in this.

Our doubts are traitors.

@@henrynoble7011 It's a good thing to doubt, but hurt when you doubt the right thing

Doubt is an uncomfortable condition, but certainly it a ridiculous one. Lol

@@JessicaRodriguez-bm7gq One thing I regret in my life is to doubt crypt0. Doubt is a sickness

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

@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, 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.

@@Donnafrank-k6e Oh please I’d love that. Thanks!.

@@Lourd-Bab Clementina Abate Russo is her name.

Lookup with her name on the webpage.

Hustlers make and break.

@@carlose6010 He been hitting homeruns

Honestly 😂🙈

For real 😅

100% 😂😂

I am sorry if you need someone to tell you how to manage your own finances.

*spend

trueee!!

... You know Graham? lol

Facts! Lol!!

No 🧢

@@cristinacaro_official what’s your ig

+Athrough Z There was a guy who recently passed away. He was a barber and left 1.5 million dollars to the local library. That's a lot of $10 haircuts.

+Altair Ibn-La Ahad That's awesome!

Its on youtube...the millionaire who cut grass! He worked like 50 hours a week or more doing lawncare...

Be careful. His sudden lack of purpose and structure might kill him. I'm not kidding.

Valerie Smith tell him to work part time someplace or volunteer. he will be ok

Happened to my grandfather 7 month ago after he closed his gas station business. Its true after all this time having a certain purpose and all of sudden you stop can make you go insane. Robert Lewter

I am in the exact same position. My company came to me after 40 years and offered a buyout. It was a shock to stop working after 40 years of putting your heart and soul into a job. It just reminds you of mortality. It is disorienting to stop on a dime but once you figure out how to spend your time you just move on to a new chapter.

Take him to church.

I agree. Nothing sadder (and more of a waste) than a hoarder who saves their whole life and dies with a million under their mattress.

Agreed, but just because the trip costs $8000 doesn't mean he will enjoy it more. I think he needs to find what he likes to do and do more of it. If it's cruises, maybe do more $4000 crusies rather than one more expensive one.

ManchesterUtd Fan I can relate.

That's exactly the way I feel

Me too

Blake, Thanks for commenting and watching this video! Glad you loved Dave's comment on spending more!!!! You don't hear that too often. Don't forget to subscribe! ru-vid.com

I was like...let's meet at 6k. I have become an anti-spender over the past 5 years.

i just started it in earnest. i'll never buy a new car again. i bought a used prius with 180,000 miles on it. working on making an extra mortgage payment every month. it feels great don't it (f off grammarians)! Yes Sir!

@@isaachaze1 i heard fixing old hybrids costs a fortune

That’s horrible

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.

@@devereauxjnr I agree, that's the more reason I prefer my day to day invt decisions being guided by a fin-advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a fin-advisor for over 2years+ and I've netted over 2.8million.

@@NotyourBusiness-urto6 I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?

@@MrGravity304 My advsor is NICOLE DESIREE SIMON, you can easily look her up, she has years of financiaI market experience.

@@NotyourBusiness-urto6 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé

Yep.

Its whatever is in your DNA and how you were brought up ...period

Bucko I’m considering becoming an electrician apprentice at the age of 35. I’ve spoken with a few people about it in my city. They say that they love it and it’s a stable profession here.

So fricken cool man 👌 I’m 21 just recently introduced to Dave and he gets me so excited. LIVE LIKE NO ONE ELSE SO YOU CAN LIVE LIKE NO ONE ELSE

Reggie Reg my exact same thought.

dont have kids and you get the money.

Save spend on yourself and give...

Amelia Q. Invest, invest, invest

Nope in the Bible Jesus spoke about the parable of the talents. Have 5 mil saved and die never spent anything saving all about investing

You willing.

Simple statement but very true, if you blow your money to impress you won’t stay there for as long as you are staying humble and satisfies with what you got. Tbh still I will never be very rich due to choices, I love spending money, not to show off or act rich, but because I like to share what I have and experience stuff together. I also chose a carreer in regulation, where I couldve made much much more in the private sector, but life and work is not all about money, you gotta find a balance about what you need and what makes you happy.

FACTS! That's exactly how I live well below my means

This guy would have made way more money if he invested, but saving is easy without the risk of loss. He’s so good at this.

People buy things they don’t want or need with money they don’t have to impress people they don’t like

Jr Leon You are the man!!! You can do it!!! Keep up the snowball!

Jr Leon, it's not always a good problem. I have a similar problem. I'm 27 years old but the last 10 years I gave up stuff I can never get back, all for the sake of saving, maybe $100,000? I'll never have my early 20s back and all the great things I could have done, especially vacations.

FortNikitaBullion I lived my 20s already. I'm 38 and wish I hadn't spent all that money on things that have no real meaning. I took trips all the time and what have they given me but memories with people I don't even talk to now? The trips that are worth anything to me are the ones I take with my wife and son. The main point in all of this for me at least is not for myself and my wife to live well but to leave my son financially secured when we die. He was born with down syndrome and I'll be dammed if someone will ever look at him as a burden. If that means I live on rice and beans for the rest of my life it is a life I am more than willing to live. So my wife and I are saving for retirement for three not just two. Dave has given many many life tips on how to save and what to plan for our future as a family. Eventually we will be debt free with plenty of working years ahead of us to build a decent retirement. I'm happy to say we have become smart spenders on what is needed without missing on anything. All three of us are on a path to be financially secured for our life time. We are not slaves to the Joneses and are even happier now with our lives on limited spending money. Piece of mind and a life plan does great wonders.

Jr Leon Stay focus, this system works, I have been in your shoes. Wishing you the best

+Jr Leon dont have kids, dont get married, dont get addicted to drugs or alcohol. I dont care if you're making $20/hr for the rest of your life, you'll be rich no matter what.

He did a great job, but we don't need any more personal finance RU-vidrs. All they say is "make more money and don't spend it" padded by 10 minutes of filler content

rraannddoomm dude, I’m trying, I wear Costco clothes and drive a paid off old car yet I still have no money, nuttin even close to $1 million.

@@jogmas12 And not having kids...

@@harorider96 Yup just make more money, why didn't I think of that

@@harorider96 I have 2 kids, daycare is $1800 a month, housing, insurance, electricity $1,200. That's $3,000 a month and haven't bought food clothes gas ect. Girl has to stay home so got 1 income.

@@harorider96 you should know, having kids is on long term one of the most expensive things you could do

LOL

AJRURNGNDK

‘Sell the car’

'It's stupid. Stupid, stupid, sh-tu-ped!'

He ought to buy a beans and rice farm! Then he can sell rice and beans to the many downwardly mobile folks who face job automation soon.

is strange right? in one end, he has 1.7 mil. in the other, have you enjoyed your life?

fernando salas his enjoyment of life can be different from others.

He said he already went to several cruises with his wife

Wealth whispers, and money talks. No matter how much money I have to spend on anything I'm usually allergic to spending my money. I hate spending money, and I'd rather be a workaholic that save because it keeps me happy.

you can't just assume he's not social. you dont know the guy personally.

More like Gomer Pile

brett kirchgessner I just tried to reply to say Gomer Pile lol

Katie Poyzer Actually, he sounds like Gomer Pyle.

He sounds like me! How about we go on a date? If you're Dave Ramsey's fan then you're the right kind of girl

@@jacyborreaux919 ooof

I've felt the same. We learn from all the greats to 'spend less and save money', but when the time comes to really spend money, our bones can't because we were never used to it. im glad i watched this video and hope to remember this in the future.

I bet a wife and kids will help you get rid of some of it. Remember, you can still donate it to causes you support. When you get enough of a nest egg that you can live off of the interest, you're set.

I have no problem spending coz I saw my dad work hard and save millions and still living like a homeless guy. So I decided to spend and live well and I don't regret it .

@@Sam.............. somewhere in the middle would likely be a good compromise

Y u flexin

Lol, max out a Roth IRA for me please :)

Red Vanderbilt good one..never came into my mind

Honestly. I have $30k in debt and haven't graduated college. Helping me out wouldn't even touch his bank account and it would change my entire life.

but the question is why anybody should help you

Cashapp asap please.

Although, Warren Buffett has raised children since age 23 and he’s in the top 10 richest people :?

Nah I'd rather lease my BMW and finance my Rolex.

@@justin60222 lol

harrycq81 no we need more people to spend to boost our economy

@@justin60222 I paid for my bmw in cash I'm 17

@@crazybg878 Very impressive. Now save up that amount again, save half and invest half.