34-Year-Old Millionaire Shares His Secrets! w/

[@GeorgeKamel]

Thanks so much for having me, guys!

[@PapaChen]

You're always a class act George! Love the colab with the Money GuyS, and with The Iced Coffee Hour!

[@Yard_Machine]

You’re the man, George.

[@dorisbenedith8664]

❤❤❤❤

[@DanielBuchanan-r5e]

*so much

[@GeorgeKamel]

@@DanielBuchanan-r5e thanks! Edited. I was excitedly rushing.

[@Joenzinator]

Just became millionaire at 37. There was no secret sauce. I just started investing at 26 years old and bought a house that shot up in value recently. All my money is tied up in retirement accounts so I don't feel like a millionaire, but I know that I'm building generational wealth.

[@humbertoaguillon9825]

Can I ask how much you were investing a month. I’m 26 now and just started investing my company match in 401k and trying to maximize a Roth IRA as well

[@eedre4864]

@@humbertoaguillon9825you’re starting off with the right mindset and resemble my own start. Both Ramsey and Money Guy have good stepwise plans for long term wealth building. Rather than typing out what I did as a 38-yo net worth millionaire, I think they’ve summarized the right decisions, though the steps are more like ideals rather than truly realistic for a lot of people, especially young people. I will say I don’t believe there’s a reason to put into an IRA if you haven’t maxed the 401k or maxed out the company match. You should divert anything going to the IRA back to the 401k to at least get the company match. After that, at your age go after Roth 401k or Roth IRA if your company doesn’t offer Roth 401k.

[@dlewis483]

@@humbertoaguillon9825 If you can do 25% do it, you’ll be find, and also live your life too. We started late (37 yrs, 5k and 15k cc) but we are @2.7 M including income producing properties at 61 retiring in 2yrs

[@amansawhney3318]

@@humbertoaguillon9825It is very difficult to get to a millionaire in the span of a decade using normal market returns. In this case the commenter has leverage on their mortgage and the housing market shot up. Assuming a return of 7% you need to invest 5.5k a month. That is very tough.

[@Joenzinator]

@@humbertoaguillon9825 I started off a bit slow, doing just the company match. But I saved $30,000 in 18 months and used it to buy a house. It wasn’t until I started watching these types of videos that I cranked up my retirement contributions. Go look up an investment calculator and play around with it. It always motivates me to invest a little more while I’m still kind of young.

[@BagsNBaguettes_327]

George is my favorite Ramsey personality outside of Dave and I’ve been watching since 2013, he speaks the baby steps very wisely and never misses the mark . He gives solid advice. He’s the best right after Dave and that’s huge. I miss sweet tomatoes coupons too😭

[@ErinTalksMoney]

Love George & The Money Guy Show - great mash-up! 😊

[@geneslodysko6150]

My 3 favorite KZbin financial content makers, right here. Erin talks money, money guy show and anything/anyone ramsey

[@chetanjilhewar1669]

Maybe Erin talks money should do something with money Guy and Ramsey solutions.

[@chetanjilhewar1669]

The money show people and Ramsey solutions should do this more often.

[@brandiandpat4353]

Love both shows! We started with Ramsey plan years ago and paid off our home in CA two years ago! Found the money guys shortly after paying off our home and have been able to invest 30% now that we are completely debt free 😊 would love to see George do content for little kids! They don't teach money in school and would love to see more kids get access to this info from a young age! Loved this show and appreciate everything you all do!

[@thisoldfind7377]

On our 2nd adoption journey and we are currently a waiting family. Adoption is so expensive. Especially after years of fertilty treatments. Cool to hear george talk about giving to adopting families.

[@truthseeker6370]

George Kamel is incredible! He's the best thing that happened to the Ramsey Show.

[@Kornheiser10]

I look at "Ramsey's baby steps" as like a crash diet while the FOO as a lifestyle change for better longterm health. The baby steps might "work," but to what extent, as there is no comparison study, though mathematically if you were to follow the FOO and follow the babysteps, in the long-term you'll be wealthier under the FOO.

[@razwanahmed89]

What’s FOO?

[@Sk8rkid1515]

​@@razwanahmed89 Financial Order of Operations - the "Money Guy" steps

[@jonathannerz1696]

Watching Ramsey and Money Guy personalities discuss and debate finances is like watching Catholics and Protestants debate theology. They might differ on some of the finer points, but they are generally on the same page.

[@patrickcasper7487]

Best comment right here! The most important thing is to pick the one you like best between the two and actually DO IT!

[@zenthegeneral]

At age 34, George is probably poised to be a big-time multimillionaire by the time he hits his 50s. At this point the next personal big hurdle for him is to confront his "midlife crisis" and what kind of lessons he can share when it happens Just had a kid too, well on his way to middle age life Congrats on new fatherhood George! Great show money guys, any time you guys do a segment with the Ramsey folks, it's a good time. Would love to see Ken Coleman on to talk about careers and employment! And maybe have a debate with him about college, unions, and business ownership

[@jonathannerz1696]

This is the first time I’ve heard of George and his wife expecting! Congrats you two! 🎉🥳🎊

[@tyanabarnes6060]

I agree 100% about their idea of what makes someone viable for leadership. My husband has been working at a factory since he was 18 (for 5 years) and within 6 months he got a leadership position, then he switched to a different position a step above and got a leadership position in 18 months, and then he just switched to a completely different position with guys who has over a couple decades of experience in this field and he still has to go to school for it, and the supervisor said he’s not hiring any leads until he graduates. His secret? He works hard, makes it so the higher ups can kick up their feet more often, and he’s able to joke around but also reel in his friends to get the job done. He also gets the job done in record time and is a super quick learner.

[@PowerfulMoneyHabits]

My favorite hosts in one show! Now I’m excited!

[@marksweetser6312]

Solid show. Well done. George seems like a good dude

[@libbysworld7649]

This is a GOLDEN collaboration! So much knowledge, perspective and insight. Thank you!

[@morbotheturtle3796]

George has to do a video where he goes around to the different fast food places to give their kids meals ratings on their value. Gotta include what you get for doing the receipt survey too

[@getglamgrace]

I don’t agree with everything Ramsey although I appreciate what it’s done for so many. BUT! George is one of the best personalities they’ve had in a long time. So fresh in his approach to marketing the brand.

[@kriso5]

Awesome episode! Really enjoyed it because I’m new to the show and have been listening to Ramsey for years. Even have my own laminated FOO!! Thought this hit the perfect blend of both education and entertainment.

[@loljk9443]

I’ve been to the Ramsey Solutions building. They in fact DO NOT take credit card

[@stevenlong5817]

I bought Chris hogan book on Ramsey website with a credit card. Don’t let them fool you, they’ll take $ any which way.

[@RobWilliams007]

Been to two Ramsey seminars at The Shrine Auditorium and they don’t take credit cards for books and merchandise.

[@elmateo77]

How to become a millionaire in 10 years: buy a house somewhere that property values triple over a few years.

[@Weekendgarager]

@@beachbodyearound Sounds like it's worth $400,000-600,000 now.

[@James-zy5lh]

I believe he said his retirement savings were only about a third of his net worth. Pretty impressive to build ~$300k+ worth of savings by your mid 30s, but to have $600k+ in your primary residence is a bit nuts and lucky considering the obvious appreciation he must have hit.

[@Joenzinator]

@@James-zy5lh My situation is similar. I'm 37 and just crossed the millionaire threshold. The equity from my home is ~$450,000.

[@melliebe6029]

He must not travel overseas. One debit card and nothing else is very risky if you plan to leave the country.

[@maoisn]

The quickest way to get rich is by teaching others how to get rich.

[@gsdogs3417]

What?

[@roJTV2]

@@gsdogs3417 make money by selling courses

[@maoisn]

@@gsdogs3417 They are called financial influencers.

[@oluwasegunokusaga7995]

@@gsdogs3417 He’s saying that r the quickest way to get rich is to sell other people on how to get rich. I.e. selling a course to people who desire to get rich will make you rich.

[@briandadude]

Sell others on how to get rich

[@galelamanilao8313]

Great show! Love George Kamel. Can’t wait for his book.

[@rays3277]

Thank you guys! You 3 have helped me grow financially!

[@gregeardley5601]

Great video. Big fan of George. But um what else are you spending money on if you're only doing 15% to 401k? With no mortgage? Weird math.

[@SJhikes]

Retirement is maxed out after paying off the mortgage. 15% is only while you are actively paying off mortgage.

[@Danny...]

Watch a video on what happens to most returns. Most go into landfills or the ocean.

[@rapfreak7797]

Very true for online purchases but less true for in store returns where they have paid resources that can process the returns in down time.

[@derek8315]

Just saved 2700 Southwest points from that tip!

[@DrJack144]

Good collaboration on both sides! 💰

[@nerdobject5351]

Love the channel but y’all got to get the audio thing figured out.

[@thomasmatheny6451]

Well now I am contemplating a 90 day credit card freeze out of curiosity great show!

[@CalmerThanYouAre1]

Straight to the top 10 list for sure. Great show!

[@DanielDyla]

Sounds like Bo is echoing a bit. If I had to guess I would say he's being picked up by both his and Brian's microphones with a slight delay (~2ms at 2 feet of distance) between them. There's a handful of ways to fix this but the easiest is likely just making sure the microphones are only pointing at the intended speaker as much as possible. It would be less of a problem with a very short pickup pattern microphone but those require good microphone technique and then the mic gets in the way of the video.

[@Jasmine_moss]

It would be enlightening to see a timeline of George’s (and B & Bo’s) salary from graduating college to the present. Im guessing after college you made decent $, didn’t have kids, saved 20%, and maxed out Roth (then probably bought real estate). I wonder what all your streams of income are now?

[@kelvinreyes64]

giving is the secret to a happy life.

[@GruncleJohn]

Love the vibe!

[@SpenceTheSpartan]

Love both of you guys' channels! Super cool to get this combination at once!

[@carolannstevens5814]

This is a treasure!!! Love this interview as George is my fav!

[@MatthewBennettFPV]

YES! I’m all about the City Saver coupon book! Save a ton! I used to swap out with a bunch of other people in order to get more of what I used and they can get what they use. Unfortunately it’s going to only app in 2024.

[@xxpowwowbluexx]

Something’s wonky with the mic in this episode. It sounds like too much reverb or echo or something.

[@Kevintendo]

Great show 👏

[@bernalgorithm]

This was one of the best, most hilarious episodes you guys have done 😂 Great job as always!

[@gimmpy91]

I love watching these videos while smoking a cigar for my 32nd birthday and enjoying my day off while collecting my salary pay check while also contributing 20% into my 401K. Just waiting for the next 10 years to collect my pension. Then I’m totally set.

[@spdog3344]

Those who wait longer to have kids usually have more money, but then they are much older than their kids/grandkids so it is a big sacrifice either way. My wife and I had our first at 28 and I wish we’d have been able to get married/had kids earlier

[@xmochix604]

Agree. We had ours at 21. No regrets. We didn’t have a lot of money then but we do now.

[@leahmcdermott4189]

Whaaattt? 28 is not late to start. I’m 26 and I still feel like a kid, a kid having a kid 😂. It doesn’t help that I still look 18 (I have a baby face). I just still feel so young and like I’m not ready, I’m also so career and money focused rn, I have so many goals. I only want one child and at this point, I’ll be having him/her at 33 haha. Everyone will have their own time, there’s no rush. I just think today teenagers (16-19) accidentally having kids is becoming so normal and glamorised that it skews our perspective. I think having kids in your 20s/30s is most ideal xx

[@BF_official_my]

What 28 is late?? In my country 30 is the ideal age to get married, however the younger generations are tend to fall towards not getting married because proper childcare for the race in my country is expensive. (Malaysian Chinese)

[@christinab9133]

Love this!

[@spdog3344]

This was an awesome video! My 3 favorite finance KZbinrs!

[@brugai8917]

22:07 George Kamel, you son-of-a-biscuit-eating-bulldog! you broke Target returns 😂

[@Our22qJourney]

No receipt returns equals getting a refund on the lowest price, not necessarily the price that you paid.

[@EddyGoyanes]

Like in Mortal Kombat, the 'credit card big rock' for the Old Fashioned, at the end, was a FATALITY! haha

[@dacoolist]

MoneyGuysTeam + the Kamel!!!! Yesss

[@Ww8.3]

George is crazy downloading fast food spreadsheets 😂

[@whittners]

Their collective glee is delightful

[@shanarobinson7672]

Yay for George!!!

[@EastsideATLDave]

@ErinTalksMoney should be next!

[@RobWilliams007]

I hate mutual funds. They are expensive and you cannot get in and out of them - you have to wait for the end of the day to make a buy or sell. ETFs are way cheaper and there is always an ETF that matches what’s in a mutual fund. But yes, it may be all you have in a 401k.

[@danondeck4007]

You need to get Clark on the show

[@briandadude]

Already did

[@chetanjilhewar1669]

@@briandadudewhen did that happen?

[@anthonypomerson]

A year ago?

[@chetanjilhewar1669]

@@anthonypomerson I believe so

[@hanahsmith4501]

George is great!!

[@BubbaSnipe03]

Shop at Walmart always 💯 and sadly i work there now butnits full time at 20y/o

[@voncilledemesa2075]

Yep that’s my Chick fil A hack also!! Kid’s meal all day

[@werthabrick2623]

Great Trio right there

[@EddyGoyanes]

I was today year's old when I learned that people spend up to $750 to have a camel present at their wedding.

[@RobotMowerTricks]

I love that you told him to cover his ears 🤣

[@peternguyen1911]

Is it best to consider household net worth or individual net worth as a married person?

[@Alan-jk1yi]

Depends on what you're planning for. If, realistically, you think divorce is a real possibility, you should probably plan individually. But theoretically, it shouldn't matter because two people saving 25% is the same as those two people combined saving 25%, it's the same number either way.

[@azppmd]

Can't stand the reverb on the hosts' audio. George sounds good though.

[@tipseatravelerz795]

Such a great episode.!!!!! 😂❤😊

[@RobWilliams007]

Yes, I go to Costco or Sam’s and buy the gift cards for say, Olive Garden for $90 you get $100 worth of gift cards.

[@cooleobrad]

George you're in baby step 7! Just admit you're investing more than 15%!!

[@werebreakingfree236]

we started out with ramsey. we had a 0.00 net worth. meaning we had 120k in retirement but also carried 120k in consumer debt and also 120k in mortgage debt. we were 44&46 years old. now we are 51&52 and just broke the 800k mark. we should easily clear 1 mil within the 10 years. its really not that hard. and we dont have huge paying jobs either. no 2nd jobs no extras. everything is paid for but our house... and thats @2.5%

[@darbyohara]

You were in your 40s not 30s when you started. Incomes are higher as you get older.

[@amireallythatgrumpy6508]

How was your net worth not -120K when you started?

[@frankalexander5401]

My kid became a millionaire at 26!!! Debt free. Has his BS and his MBA. We bought him a house.

[@ihaveadreamformykids4400]

This is my goal for my kids. They will be millionaires by 20’s and multimillionaire by 30’s.

[@jmnthe3rd]

🤣🤣🤣

[@perotal]

Congratulations.

[@mickylord21]

Bo i like the pink polo

[@LuisVelazquezLV3]

WOW Negative Networth to a Millionaire within a decade? It took me 12 years from -$100,000, I wonder if he has any kids, cause I'd argue that THE MESSY MIDDLE with multiple kids really makes it harder to do that.

[@darbyohara]

He’s full of shit and paying some manipulation game with the numbers to come up with his 1m

[@kmng3207]

Yah🎉

[@Oaky]

3:15 "didn't sign a professional contract" sir... what? He's an internet personality, he 100% signed a contract to sell his likeness. I PROMISE you has have a very complicated professonal contract with DR

[@ludwigvonsowell5347]

He was an employee beforehand. Wouldn’t be shocked if he sweetened the deal for higher cash by voiding some rights.

[@rachelharrison7961]

I think Bo meant a professional athlete or entertainment contract, with a signing bonus.

[@grega2362]

baby hack, get a food processor. They eat what you do. London broil, peas, and mashed potatoes is a light brown, but it actually tastes pretty good. Beef, real food for real babies.

[@Username_CC_]

George is solid but Ramsay solutions is not wholy trustworthy

[@ludwigvonsowell5347]

Why not?

[@craigholland2274]

I agree with your statement.

[@craigholland2274]

They gave a few lawsuits on them for mistreating employees. There is a lot to the story but probably worth a youtube search. The chris hogan thing and foreign and employee for getting pregnant.

[@dlewis483]

Yeah but you will only get target merchandise credit

[@Corpsecreate]

He's either lying, or withholding information. He says he became a millionaire within 10 years, starting at -40k net worth. The math says no: 1,040,000 / 10 = $104,000 saved per year. Assuming this guy leaves on instant noodles and pays dirt cheap rent --> annual expenses = 20k. Needs to save $124,000 per year. To get 124k after tax, my calcs estimate that you need to earn about 190k per year. Since he started as an 'intern', it is very unlikely that in the first year he earned 190k, lets be generous and say he earned 100k in the first year, which means he kept about 70k after taxes. After expenses thats 50k: $990,000 / 9 = $110k + 20k expenses = 130k needed to save per year. pre-tax earnings for the following 9 years after the first year needs to be 200k per year. So he either got promoted outrageously quickly, hitting 200k after the first year, or he gambled on Bitcoin to become a millionare.

[@darbyohara]

He’s lying

[@amireallythatgrumpy6508]

A lot of that comes from increase in value of his home over the last five years

[@janeaustere]

His wife also works full time at Ramsey

[@purainteligencia]

19:20 for sure this is a guy thing. We just worry about ourselves and making sure we stay discipline and hit out mark. When the wife spends a lil more then us and its for the kids we just put it on them. 😂

[@csnelson85]

George is the man

[@jmnthe3rd]

"The Ramsey Solutions organization" sells and profits substantially from the advertisement of actively-managed funds that statistically cannot outperform low-cost index funds over the long term. The money goes from the paychecks of people who watch Ramsey into your guest's pockets. That's how he did it. That's the secret, pretending to offer sound advice while completely glossing over the arm-and-a-leg sales commissions.

[@egs2169]

Bingo

[@darbyohara]

Yes it’s a scam

[@roburb73]

His "secrets" are following Dave's plan to a T!!! It's not secret, it's public knowledge. I like George and his videos are truly funny, but if you have to put "net worth" in front of "Millionaire", you're compensating for the fact you don't have $1M or more in investable income producing assets! I know what a millionaire is, and by the definition he is one. Again, I like George and he's talented. IMO, and in the big picture my opinion doesn't matter outside of my house, it's misleading.

[@briandadude]

Let’s hear your millionaire secrets

[@roburb73]

@@briandadude There are no "secrets", it's all out there for people to read and comprehend. If you have the income, discipline, and time, it's not hard.

[@briandadude]

@@roburb73 Yeah but they're going for clicks.

[@roburb73]

@@briandadude valid!!

[@Kornheiser10]

The problem I find with George and the whole Ramsey program is that they often treat callers/people like children and lecture them more than try to teach them. The best example is their position on credit cards, where they preach 100% abstinence for everyone, instead of educating for responsible use. It's one thing if you've abused credit, then maybe you shouldn't use them, but it's as if they think telling an 18 year old not to ever drink alcohol, instead of talking with them about responsible drinking....preaching abstinence usually doesn't work out well in the long run...on many issues. Brian & Bo and the whole team teach, not merely preach.

[@joshalecusan3642]

Made me cringe hearing George say paying off his home early was a wealth building hack.

[@LiamRappaport]

I can't figure out why, but something about George Kamel really rubs me the wrong way, so this was pretty hard to watch. (Typically I love The Money Guy Show videos.)

[@---wu3qj]

I have ONE credit card, and I pay it off monthly. I love having it for airfare, rental car, and hotels! I would go bananas if I had to pay cash for everything!

[@richardlee2120]

George Kamel should quit working for Ramsey after Ramsey insulted him on air. That is intolerable and Ramsey is arrogant. His advice on mortgages and investing is just plain stupid.

[@BPed]

I was all in on this guy and even gave him a follow until he said he pays for everything with a debit card smh.

[@stevenlong5817]

The safest payment you can make is with a credit card. Bank’s money, not yours.

[@BPed]

@@stevenlong5817 I just got back from 5 nights in Hawaii, didn’t pay a dollar, all on points. I have between 15 and 25 credit cards “under management” at any given time…none of them carry a balance. Fraud protection is a benefit, but one of the weakest pro-credit card arguments imo, especially if you think of it as “the bank’s money.”

[@ludwigvonsowell5347]

80% of Americans should follow Dave Ramsay and never deviate. Simply lack financial responsibility and ability to manage money. If we get to there for 2 generations we can move everyone to the money guy.

[@joelmora2826]

Nah Dave ramsey is outdated. $1000 emergency fund is dumb.

[@ludwigvonsowell5347]

@@joelmora2826 hie would say it is a behavior issue. That It wasn’t enough when he started. But telling someone who absolutely sucks with money and 50k in the hole to set aside 15k in step 1 is ineffective and doesn’t help build behavior.

[@chetanjilhewar1669]

⁠@@joelmora2826I disagree, if you look at their past video, it not that out dated. Telling people put 1000 dollars to start is basic emergency fund and step three is 3 to 6 months emergency.

[@chetanjilhewar1669]

I don’t know about 80% but I to agree with you but the Dave Ramsey’s and Money Guys’s Step is pretty much similar.

[@amireallythatgrumpy6508]

That's only a starter emergency fund. Not an actual emergency find@@joelmora2826

[@BubbaSnipe03]

How to be financially stable by 30 at 20 from only making 19-25k a year ? How can i get a small loan of 500k

[@craigolbert4606]

*orders kids meal at chic fil a to save a dollar*....*thinks cashback is useless*....make it make sense George

[@miked412]

....what is going on here... Bo to the left and Brian to the right.... Blink twice if you're in trouble.

[@jloop_2008]

George is not a millionaire. Plain and simple.

[@acilirp]

Let's see what the anti FOO has to say.

[@gosman949]

These guys are such weenies! My wife and I have always maintained separate accounts and different careers. Celebrating our 40th tomorrow and we have never questioned each other's spending habits. We don't spend much!

[@MacD2029]

Serious question, is being a millionaire at 34 even impressive?

[@amireallythatgrumpy6508]

It's certainly something that those in their 20s that are well short of should aim for

[@jloop_2008]

Ya, this dude is not a millionaire. Unless you count a millionaire as someone who has to sell literally everything he own, including the shirt on his back to be a millionaire. He is a self-proclaimed "net worth millionaire." 😅

[@darbyohara]

He might be a net worth millionaire because his house is worth 650k and he’s got 350k in retirement and assets (cars, cash, furniture, etc) whole making 200k+ per year.

[@amireallythatgrumpy6508]

Net worth is *the* definition of a millionaire

[@jloop_2008]

@@amireallythatgrumpy6508 that's the definition for fake millionaires, yes.

[@kzenias]

I just don't find this episode very enjoyable. I'm all about working hard and saving, as well as prioritizing what you love. but this guy is honestly sounds kind of demented. "Yo I watch this handyman work for entertainment" it's kind of dehumanizing

[@briandadude]

I think he's trying hard to be funny but it does come across as arrogance sometimes.

[@markg999]

Comes across like making fun of himself...like watching someone with real skills.

[@darbyohara]

Of course, he’s not a regular guy. He’s a radio and broadcast personality 🙄 we gotta stop focusing on the fringe outlier careers that are fueled by social media inflated incomes Of course the guys a millionaire if he’s a successful radio personality on Dave Ramsey’s network, the guys probably making 250k a year telling stupid people to cut up their credit cards. There’s nothing novel or unique here

[@namegoeshere1]

Just for the future, you spent way too long talking about nasty chick fil a. I felt like I was watching an advertisement. Love this channel though

[@devenmurray3580]

It doesn’t matter, but your household is a millionaire. You are not.

[@morbotheturtle3796]

By definition he is. Your opinion doesn’t trump the definition 😂

[@devenmurray3580]

@morbotheturtle3796 nope. By definition it's a household. No part of that is opinion.

[@TheMelanieGrace]

Here's my Money Hack for Christmas - my kids get way too many gifts every year, so after Christmas, we return 90% to Target they'll give us store credit and use that money for groceries, then we take the value of the card and put in the kid's college accounts. everyone is happy