5 Jobs That Create the Most Millionaires

Excerpt from This Past Weekend w/ Theo Von #498 | Dave Ramsey
Full Episode: • Dave Ramsey | This Pas...
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#TheoVon #DaveRamsey #TheoVonClips #ThisPastWeekend #Comedy #Podcast #Finance #Economy

[@Riggsnic_co]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[@JacquelinePerrira]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.

[@kevinmarten]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.

[@Ashley186fre2]

I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with?

[@kevinmarten]

When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.

[@Ashley186fre2]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@cmg2651]

My youngest son is a master plumber, went into a four year apprenticeship…worked 40 hours while doing the school part…no student debt, lives frugally and saved all his money, Owen’s his personal vehicle and work van outright. He is 30 years old, started his own business and is getting ready to purchase his first home with a small mortgage and purchase a small fixer upper with cash to use as a rental property. His father passed away the month after he turned 13, did all this on his own. Don’t say it can’t be done. Hustle!

[@shariff4473]

You’re youngest sons father passed away?

[@ked4]

He named his car Owen?

[@brad265]

Love this!

[@MJBclassics]

​@@ked4omg in tears

[@jaymkz3225]

@@shariff4473might be a step-son…this guy should clarify if that’s the case 🤦🏽‍♂️

[@Black_Jesus3005]

Theo and Ramsey? I never expected this one

[@CaptainBenjamins]

Like seeing two different worlds collide

[@TrackinDaMeta]

"if you're an engineer there is only one way to do it" spoke like someone who hasn't met any engineers lol

[@littlebigplanet321]

Exactly! I'm an engineer and that the opposite of what we describe our job as

[@Hashtagcris]

I'm not an engineer and I thought the same thing.

[@its-me-here]

Think big picture, organization, coordination etc

[@TRAVIESO_NA]

agreed, its all about "BREAKING THINGS" less about systems of success, more about "re-inventing the wheel over and over"

[@jwsledge]

What he mean, is there is a set a parameters engineers work within standard engineering practices.

[@markhottman2652]

Engineer Accountant Teacher Management Attorney

[@montanosanti]

Comedian 🤪

[@jimmyleebaker]

This fool said teacher 😂 😂 😂 teachers make bout $30,000 per year, jackass

[@joellape6494]

I’m a machinist. I worked internships in high school that lead to me finding an employer that would pay for my college. That employer also put me through an apprenticeship. That apprenticeship allowed me to advance myself in my machining career and become an adjunct instructor at the college that I graduated from. I worked days as a machinist and nights as an instructor. My house is paid off, I max out my 401k, and I max out my ROTH IRA every year. You’ve got to work hard and save if you weren’t born with the silver spoon up your butt. Invest in yourself and learn a trade.

[@gvsniche7375]

Christian Bale?

[@KevinNordstrom]

You left out don't have kids.

[@izzyash2031]

What trades do you recommend for women?

[@onestepclosertoheaven7347]

I am also a Machinist. My net worth is about $250,000 with a mortgage. I am 29 years old with 3 kids. I usually put about $12 percent aside in investments.

[@joellape6494]

@@KevinNordstrom, I have 4 children

[@theclozer]

Dave Ramsey is all over the map!

[@Ollycave22]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@jonsonmack]

Trading in Bitcoin now is the wisest thing to do now especially beginner....

[@henrymark1379]

Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.

[@Ollycave22]

Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders

[@Michaellfred]

Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.

[@CharlieLeo-wh5ix]

You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?

[@MichaelYouTube23]

People think millionaire means million(s) in the bank account ready to go

[@rally_chronicles]

That's the only kind. The rest don't count.

[@captainmo3064]

My wife and I took Financial Peace University prior to getting married. In June we will be married 16 years. She is a teacher and I am in sales. Paid off home. No debt. The house is worth $850k. And we have close to 900k in the market. It can be done. We are ordinary people. And live in a high cost of living area. Paid off the house 11 years 4months. Still no debt. 44 and 38 years old. It can be done.

[@byRoyalty]

how much does your household make? If you don’t mind me asking

[@captainmo3064]

@@byRoyalty married 90k now close to 300k

[@byRoyalty]

@@captainmo3064 damn. my girl and I in our mid twenties have been living together for about 2yrs and bringing in combined about $130k. I am also in sales to try and increase my income.

[@EmergencyChannel]

I live with my parents still and our combined 3 income is less than $100k. We barely survive, all driving 15 year old cars and eating at home every night.

[@gil9905]

Your an inspiration brotha!

[@cameronblack7984]

"You shouldn't steal people's hope man, that's evil" - great fucking quote

[@GlassJack]

I don't often like Dave on his own show, but this was a good episode. It's probably good for him to be the one getting interviewed once in a while.

[@RobbaKeef]

He has some good ideas, but his quasi religious business mix is suspect as hell

[@GlassJack]

@RobbaKeef yeah, I agree. I don't know how any of it fits in with giving solid financial advice or why he doesn't allow his employees to have pre-marital sex. Seems like a huge over-step, and he knows people will agree to it because he offers solid employment packages.

[@RobbaKeef]

@@GlassJack I had an older couple cancel their whole life insurance because Dave Ramsey came to their church and said people should only have term life insurance.... meanwhile they had just refinanced their house and both over 65 and the husband was still working.... not the best time to cancel your life insurance... one size fits all solutions. Don't translate a lot of times.

[@jimsonjohnson3761]

Basically the no debt figuring out how to save more and or make more is good. His managed fund only investing is really quite silly and he will die on that hill.

[@bluebird6300]

The sad part is that $1 million isn’t very much anymore

[@Jbb7272]

What do you mean? If I have no debt whatsoever AND the million never earns interest I could live 15-20 years on it. Thankfully you could still work and it accrues interests.

[@bluebird6300]

@@Jbb7272 run the math… 1 mill at 3% is 2,500 per month and take out 40% for taxes (federal, state, fees, insurance and erosion of 30% due to inflation each 5 years equates to …. Wait for it $1,200 or $600 per couple per month ain’t a lot.

[@dturner40]

It’s not too bad. It easily produces a $80k/yr paycheck without spending the principal. Thats a fairly nice buffer in your day to day budgeting.

[@itszkk]

​@@dturner40 if you own where you live outright and don't have any other debt $80k/yr is more than livable in nearly any place in America

[@mkeller8114]

Using the 4% rule it will net you $40,000 a year and your money will last approx. 30 yrs. Your right it isn’t what it use to be especially with Bidenomics and double digit inflation. We have everything paid for a house, small cabin, cars and a million plus saved and we certainly don’t feel well off.

[@mst3kpimp]

these days grifting seems to create the most millionaires.

[@BORGES1810]

Yup, and Dave is a great example. Whole website is a grift lol. anyone with a self proclaimed "university" is a grifter

[@corey6393]

@@BORGES1810 You can listen to his radio show or free, take the advice he gives, and get ahead. Not much of a grift if you don't have to pay for it.

[@byronrogers4489]

Lol. Untrue.

[@byronrogers4489]

​@BORGES1810 losers complain. I'm close to being g a millionaire thanks to Dave's teachings. I'll be rich. You'll complain. At the end of the day it's your own choice .

[@BORGES1810]

@@byronrogers4489 sure buddy🤣🤣🤣& only close to being a millionaire? I’m actually a multi millionaire & once worked with & fired Dave. He’s a certified grifter, making money off bros who can’t think for themselves

[@markperry1556]

This is a Collab i did NOT see happening

[@matthew7iu9fenton55]

I am and engineer and the ones I work with along with me we all have similar mindset so it’s not suprising it’s top5, but putting my engineering ego aside (it’s huge), to the defense of doctors and lawyers is they are underrepresented in the population. I I would like to normalize the data to see percentage of careers/professions that are millionaires.. that may help those fields quite a bit since my guess is there are more engineers?

[@wbexteriors9808]

@matthew7iu9fenton55 It’s not what you do for work. It all comes down to spending behavior, saving/investing, motivation and making good choices.

[@missjanelove]

As a finance person who has worked with several engineers, its mindset. Engineers are numbers driven and result oriented -six sigma and continuous improvement. Doctors are not as disciplined in those areas.

[@F32Aidan]

Engineer that writes like my brother in seventh grade🤣

[@badart3204]

@@F32Aidanthat’s just accurate. Engineers aren’t great at writing

[@sarahlockridge7879]

I am an engineer following his plan 😂. It makes sense now to me! I NEED the process and guidelines of his plan. I also found a 12 step program in recovery has healed me more than any therapy! Now it all makes sense.

[@mkeller8114]

Live within your means and put 15-20% plus in an S&P 500 index fund every year and stay out of excessive debt and you will have your millions. You don’t need a Ramsey plan.

[@JoeGoble]

Dave's shirt is holding on for dear life

[@Ghostface-1393]

Big wallet big belly

[@carbonking53]

He needs to invest in a personal trainer and his health.

[@Ghostface-1393]

@@carbonking53 Seems to be healthy to me. What makes you think he’s unhealthy?

[@carbonking53]

@@Ghostface-1393 The fact he is clearly 20-25 pounds overweight, or more. Obesity is huge health risk.

[@Ghostface-1393]

@@carbonking53 Everything is a health risk… people with a “overweight” bmi live longer according to research. Don’t confuse bodybuilding for health. Either way his body his choice also he is giving money advice which has worked for millions not nutrition and exercise advice. Good day sir.

[@LarossaConstruction]

I can say from experience he's right, I started from scratch and I got there but I had to follow the process.

[@davel3616]

The reason there are more engineer millionaires than doctor millionaires is that there are way more engineers than doctors. But he’s right about the process mindset.

[@akatsukiawsome13]

I knew immediately where this was going at 1:40. I just cant imagine not adjusting for frequency. Meaningless stat without it.

[@jakedickensheets453]

I think the problem is that they surveyed only the millionaires instead of surveying random samples of the specific jobs. Adjusting for frequency here would also make the entire study obsolete because there would be no data, right?

[@jonagss]

Engineering economics

[@steveo85]

I thought for sure divorcing your millionaire husband would be number 1.

[@chris2884]

Don’t forget that a million today was only 250k in 1980. A million isn’t what it used to be

[@mirzatajic89]

That's true, but if your worth a million your still living pretty comfortably.

[@kennethb6211]

If you eat bugs and ride your bike to work you too can be the next millionaire! You can also live in a low cost Ramsey tent at the low rental cost of $300 a month!

[@ShutterSpeedGaming]

@@kennethb6211my mortgage is $565 per month thanks to the likes of David Ramsey 😎😏 nice joke.

[@Dud-in9iu]

Not true, you must have come up with that number on your own. You can see the ACTUAL answer using a CPI calculator. $1,000,000 today is equal to just over $320,000 in 1980. Considering the median wage was $28,000/year back than, that is a lot of money. Don't believe hearsay, do the math yourself to find out the truth

[@miyard9233]

@@Dud-in9iu I million is still 1M. The conversation here doesn't talk about the spending power of the million, and so that is far another conversation.

[@chuckw4680]

These are VERY braod categories of professions. Chances are these millionaires are people in very specific niches of their field that pay very well. Ie, engineers = computer science, teachers = tenured professors at large universities, management = directors & c suite.

[@cwr8618]

Yup. Devil is in the details

[@swampThaang]

I would have never guessed in million years that these two would connect. Like snoop dogg and Martha Stewart

[@JJamez989]

In my area buying a house was a no brainer. Rent went up to 2500 a month for a small 2 bedroom. A house that was once worth 200k is selling for 400k. My wife and i spent 8 years saving everything we could. We stopped going out. We stopped eating breakfast for christ sake. And finally someone took our offer and we moved into a home that had a mortgage payment lower than avg rent in our area. Now. What weve done was a great achievement, but still....in this greta country it shouldnt have been as hard as it was. We have to stop this big companies buying up property for airbnbs

[@jasonleatherwood2172]

Long as you can afford roofs ac pumps fence deck replacement etc a house is a blessing i know alot of people with no ac and leaking roofs cause they cant afford to fix it

[@Bread996]

@@jasonleatherwood2172 Not to mention all the compound interest paid on a 30 year mortgage. When you do the math at today's 7% rates, buying a home is NOT an investment, it's a purchase.

[@ldiggs9072]

How are you going to stop them. I'm down

[@jasonleatherwood2172]

@@Bread996 yeah paid my house off in 13 years if i ran it all the way too the end of 30 years with repairs taxes insurance total mortgage cost i did the math versus renting is basically the same now if ur smart like me pay off in 13 years yeah ur doing much better

[@yourdaddy9622]

Same boat. Bought my house for 102, and now it’s valued at 4. Cars are paid for, and my wife and I are happy. Our mortgage is literally cheaper than a one bedroom in the ghetto. It’s wild how bad people are with money.

[@brianmccloskey2842]

Air traffic controller here. Will retire at 56 worth around $2m, assuming no major emergencies.

[@fendi2581]

what investments did you make to get there?

[@brianmccloskey2842]

@@fendi2581I max out my TSP and IRA.

[@danielcsosa96]

How do you feel about making that your career? I'm not knocking it we all gotta do something but I've heard from quite a few ATC's that they wish they reconsidered their career choice and that working conditions have continually gotten worse over the years, etc.

[@urielcorza2870]

Stress to income not worth it. High suicide rate. Pass.

[@brianmccloskey2842]

@@danielcsosa96without a doubt the best decision I ever made. I work 4 hours a day. Get paid for 8. Sunday premium pay, overtime when I want it. 22 federal holidays, double pay if you work them. Generous sick leave, PTO. Great pension. The list goes on.

[@cameronyeager8129]

Love dave, great episode

[@user-ut1fl4um3q]

Pilot definitely should be in the conversation.

[@rossedwardmiller]

It’s just not a very common profession. These professions are common, and building a $1m+ net worth is done most often by these five professions.

[@luvpiggery]

401k's are great. If your company offers a contribution match, you're instantly doubling your money, it doesn't matter how much you make to start leveraging that early.

[@nickc3856]

1. Engineer 2. Accountant 3. Teacher 4. Management 5. Attorney

[@JCtheComicGeek]

A public school Teacher is a low paying job sadly. They meld the minds of future, Dr, lawyers, actors, presidents, athletes, ect. They should start at a bigger salary. And public school to teachers have to pay out of pocket for class room expenses

[@wtf1231122]

​@@JCtheComicGeek 90% of teachers are lazy

[@softjones3128]

@@JCtheComicGeek sadly they only work half the year

[@Canadianfalcon]

As a teacher, I'd say thats categorically untrue. We also get far less PTO because of school vacations and a big chunk of that summer is spent in training. That being said, far to many teachers use it as a fall back job. Couldn't make it in corporate and ended up in education which dilutes the education experience and hurts quality. We need higher standards for who can be a teacher and higher pay since they would need to up credentialing

[@John_GGG]

@@Canadianfalcon far to many?

[@patrickchilds5486]

House we bought in 2013 for 600k up a million now. Florida crazy. Just paid it off.

[@noahvalley8268]

Sell it and buy bitcoin

[@rawcircoking]

Thats horrible advice ​@noahvalley8268

[@noahvalley8268]

@@rawcircoking check back in 4 years when bitcoin is 150k+ next bull run and house prices are down because high interest and bad job market made them unaffordable

[@rawcircoking]

@noahvalley8268 lol don't sound so emotional about it. Theirs not historical data to say that it would hit that number at all just your hopes and themed driven. Maybe you listen to robert kiyosaki to much

[@rawcircoking]

@noahvalley8268 the big money isn't buying btc itself. They'll let dumb money do that.

[@grantghosn]

I don’t think it has anything to do with processes, it seems like a doctor would have much more process to follow strictly than many of these other careers. Maybe it’s more about the upbringing of those people who choose these careers, I would think that many doctors came from a somewhat wealthy family and therefore didn’t learn how to be frugal and save what they make, also seems like the top four of these careers are somewhat lower cost to entry which attracts the type of people that are being smart and frugal with their money. I’m sure there’s more to it too

[@ManiakaLBob]

that jacket toiiiight

[@elmoelmslie13]

Teachers also get an incredible benefits package, and never have a chance to get deep into medical debt. Is that helping to keep the average teacher above other professions that may make significantly more in wages?

[@mkeller8114]

They also get money for furthering their college credits and then get a raise based on those add’l credits. I know this well as our daughter is a teacher and has her masters plus 60 credits and is maxed out on the pay scale. About a 100K a year plus all the great benefits. Not an easy job but they do well and can retire at 55-60 better than most.

[@Seanpfree]

First-time home ownership is over especially in Tennessee. We've realized we'll never own our own home when "starter homes" are 350k at 8%. We've put in 77 bids over 4 years ALL outbid by cash offers.

[@RealMTBAddict]

Only thing affordable in Colorado is a 40 year old trailer with a $900 a month lot fee.

[@AnglandAlamehnaSwedish]

In Tennessee? Woaw every says the homes are the cheapest cuz noone wants to live there n I been hearing this from ppl who lived in Tennessee n others who were looking to live in tennesse for the last 20+ years , amazing all of my friends lied to me

[@dylannewby3926]

Try living in Australia 350 k gets you the land no house

[@mr.doctorcaptain1124]

Move to an affordable state or vote trump

[@raramcgee4982]

@@mr.doctorcaptain1124trump raised taxes for us normal folk, went into affect last year. He didn’t do jack shit for the average man, you fell for the bait, again lol.

[@dachunde]

Theo; "How do you come upon these millionaires?" "The same way you come on thousandaires."

[@Hunter96187]

My man is the problem with these boomers literally hoarding properties and selling them for 10X what they paid right before they die. I understand I sound whiny but it’s literally bullshit how much homes cost

[@Hunter96187]

@chrisgooglemapsBuddy it’s not the same thing lmao? Bitcoin cost 1 cent in 2012 a house in 2012 $160k? Maybe understand your metaphors before commenting.

[@swod1]

CPA here - there’s a lot of ways to do things lol

[@joshuathompson1389]

Keep this going Theo

[@BG-zb4fc]

Learn a skill, work as much as you can, have low expenses, don’t keep 100% of your money in a bank reinvest in your skill. If you have people around you that don’t give you support find people that do.

[@kylemathews9677]

Very underrated comment.

[@nyredneck63]

My wife and I amassed over 2 million dollars between our home and 401k. I’m a construction worker in my mid 40’s. I’ve been investing in my 401k aggressively to the point that I’m almost living check to check but I do enjoy watching it grow.

[@DevilDoc23]

As an engineering student I’m glad to see this lol

[@JeremyS86]

ive met a handful of well off people working my in peoples houses with my business. they come in all shapes and sizes. the richest man ive met started out as a house painter, was eventually building houses all over canada under his own company. dude had a big ass crew for like every trade

[@98luckyneon]

Study done in 1982…..lol

[@terrisewell4729]

Great video, Alot of the millionaires are heirs. Real selfmade millionaires are investors . And there is nothing like luck but taking risk and timing included. And you need a some education. To become a millionaire by yourself should not be a goal (depends on country) because its just out of reach, i pray that anyone who reads this will be successful in life too 🙏🙏

[@eseieanas2475]

You're right, you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.

[@Jameshenry-gu1fi]

I agree with you had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment

[@johnalex4006]

That's why I always urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.

[@Soboj-oy8me]

yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too

[@philominafashi1662]

exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn

[@thru_and_thru]

“42 and has a home paid off.” This is 2024 and most people who are in their 30’s now will be lucky to even be paying a mortgage on a home when they are 42. That in itself is a big achievement considering how much further the goal posts have been moved in recent years. Ramsey is right on some of the things he says but he is seriously out of touch.

[@tallyinvestment2070]

Love that throwback UK jacket 🐱

[@user-mw5ot7tl2s]

I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?

[@EvelynMoore-nu7lf]

Investing can be complex, so it's smart to get professional guidance when building your financial portfolio.

[@GraceDavis-et2to]

It's a great idea to have a conversation with financial advisors like Naomi Dean to reshape your portfolio.

[@AmeliaWilliams-qb6uy]

I spread out my $25k portfolio across various markets to diversify my investments.

[@RoySmith-jb5jl]

That's awesome! I ended up making a net profit of about $115k by investing in high dividend yield stocks, ETFs, and equity.

[@mariannejose5896]

Naomi Dean stands out from other brokers because of her realistic approach, unlike those who often set unattainable targets and fail to deliver. She's truly unique!

[@jonathanjobickson9483]

Never thought that these 2 would be do an interview. 👍🏾😎 the irony is allot of teachers marry engineers

[@Jeguia85]

Teachers can do it, but we are tempted to spend too much money over the summer break on leisure activities like vacations lol I am however fortunate enough to make enough to pay all my bills, vacation, and still save. Although we have to be careful enough to save.

[@reesercliff]

The reason for so many millionaire teachers is because 75% of them are female and just naturally married men who make a much better salary. They kinda have to with how little they make. So that data is kinda skewed. I'd like to see the data on millionaire teachers who are the primary breadwinner.

[@sykal]

where did you get that statistic exactly?

[@TeamTORG]

@@sykal up his ass and to the left

[@ninjacats200]

Teachers salary’s are public info. The school district I went to which is a public district. The average teacher makes 200k a year. I live in Ohio. Cost of living is not as high as like California for example. The lowest teacher salary we could find in a 500 mile radius is 80k a year. Which is more than livable. Friend of mine has a sister that’s a teacher. She always complains they don’t get paid much. She makes 120k. With having been teaching for 3 years. I know it’s not the same everywhere. Like some iner city schools in some city’s in the country don’t get paid a lot. It’s definitely a case by case basis. But according to the research I’ve done and same as other people I know who live in other areas of the country. 90% of teachers make a more than livable wage for where they live.

[@InTheWeeds314]

LETS GO THEO

[@wtf1231122]

Hes not talking about making a million. Hes talking about retiring as a millionaire, with only a million, that will be taxed heavily when you do retire

[@markaragon2425]

Not sure if it’s touched on later in the conversation. Hopefully they talked about age. It’s not about getting a job at 25 then being a millionaire at 26. Time and process.

[@jetpark3743]

Some high school teachers make 200k plus

[@parkerrogers6122]

sales too you can make a ton in sales

[@RJames-uy2mt]

I’m an engineer, and I’m a millionaire, and I have a lot of millionaire friends. 🤷🏽‍♂️

[@stephanielcowart6867]

Interesting that he assumed the engineer was only 1 type rather than all the other types of engineers out there.

[@Neil-vn4hd]

Dave Ramsey is a realtor.

[@Techcensorshipbot]

With the 401K guys I wonder how much they were making a year. Likely wasn't 30k.

[@RealMTBAddict]

$100k minimum

[@AnglandAlamehnaSwedish]

I was a HS maths teacher 32k yearly salary had a 401k n it's not hard to be worth a million dollars

[@RealMTBAddict]

@@adamspivey Yeah but you won't acquire a million dollars in it, not even over 200 years.

[@adamspivey]

@RealMTBAddict depends on how much you contribute and your investments. But yeah, it's not going to happen over night.

[@adamspivey]

@RealMTBAddict also, I think he said your over-all "worth".. like having assets and investments worth $1 million+

[@derekthemountaindawg467]

He makes it sound so easy like we all can afford a 600000 home and save that same amount by 42. Hell, engineering degree's ain't cheap. Also One million ain't what it used to be either.

[@tear728]

Community college and finish a degree at a state school is easily done for 30k

[@MichelleNovalee]

How is teacher on the list?

[@frankomalley8034]

Those teachers were from NY that retired to Florida then became millionaires 😂

[@jonny-b4954]

2:10 Where's family construction businesses? I work with quite a few millionaires (on paper) who are just contractors. Sometimes doing additions, sometimes houses, sometimes odds and ends etc. And they just have a dozen plus sub-contractor relationships over the years and one or two main crews. Heck of a lot of work though. And you got to start the bottom or it'll never work.

[@198746779838]

They only surveyed 10k people. And these are the top 5, maybe those business owners are further down the line.

[@kamikaze4132]

This made me so happy 🥰

[@lutherepperhart4785]

Never thought i would see Dave Ramsey and Theo on a podcast together.

[@michaelwoods4495]

He didn't tell us whether there might only be more of people in those occupations than in the overall population.

[@markhousman8447]

Time and compounding is the key. If you invest $800 a year in a Roth in S&P500 starting at age 18, you will have $1M by full retirement age. Exponential growth (compounding) is a crazy thing that the human mind isn't set up to readily understand.

[@fhgdngdfh]

Also, good luck convincing an 18 year old to save money.

[@leafster1337]

@@fhgdngdfhlol

[@Dud-in9iu]

Being a millionaire in your 60s isn't as fun as being one in your 40s.

[@moonknight4053]

What’s the stats to prove this method?

[@jasonjosephlee]

Great video. One of the best things we can do to create wealth is invest in real estate. After a couple of years of appreciation, you can start buying more properties and keep scaling.

[@devonstultz4529]

Recent study showed 94% of viewers were Dave ramsey fan.

[@johnappleseed203]

My cousin is a public teacher in Northern Minnesota. Town of 300 people. Slowly but surely, buys properties.... gets to 50 some doors and retired at 52. One of the wealthiest dudes I know.

[@rp-wb6xn]

Nice, he own mostly single family homes, apts or a mix?

[@DylanWoods-ii4uf]

These jobs are at the top of the list because they're common jobs. Therefore, there are many people who have those jobs, and some percentage of them are millionaires. More useful would be to know which jobs have the highest percentage of millionaires. While there may be many millionaires who are teachers, because there are a lot of teachers in the country, the percentage of teachers who are millionaires is probably fairly small. The reason doctors are number six and not number one, probably isn't because doctors are bad with money, but because doctor is a much less common job than teacher. However, the percentage of doctors who are millionaires is probably much greater than the percentage of millionaires who are teachers.

[@Jfromes1]

I work at a school. Many teachers make close to 6 figures and are super super cheap.

[@Joe-db5hz]

Teacher? Yeah, if you count becoming a millionaire by marriage.

[@bbbnnnddd]

Average teacher in the country makes $84k for working 75% of the year. Just because you’re a part time Taco Bell employee doesn’t mean others aren’t successful.

[@Joe-db5hz]

@@bbbnnnddd lol $84k salary. If you believe that they have a bridge in Brooklyn to sell you.

[@InteractiveMediaXVI]

being a millionaire is hardly “getting ahead” anymore. It’s just keeping up. And few can do that.

[@chrisneumann7642]

It should be on per capital… it makes no sense cause there are way more teachers/accountants than doctors

[@InTheWeeds314]

I SEE YOU

[@nkpags]

Didn’t realise engineering was so easy - just follow that one way to do it

[@jonathanstafford3383]

Teacher? Lol ok

[@willymaykit1482]

Sounds like the person with the most money at the end wins. Ridiculous.

[@evilbeckalonian]

I get what he’s saying about owning a home and 401k - it’s good advice but not perfect. Maybe you’ll be a millionaire when you eventually sell your house and assuming your 401k did well enough. Maybe you’ll have a million plus, but will that be enough to live on however many years down the road ? When you sell your house that you live in for a massive profit ( assuming that’s still an option ) where will you live ? Buy a new place ( at the current market value / take a huge chunk of that profit ) or rent ? If you stay in your house as long as possible, you’d maybe be a millionaire on paper, but a huge chunk of that is unrealized so you’d really be living off the 401k and social security assuming that’s not completely bankrupt by then. Still way better to have the house and 401k vs. nothing, but not the automatic win for retirement.

[@danielscarbrough4363]

THINK LEVERAGE....use the EQUITY of home to leverage the capital needed to make more money...nothing ventured nothing gained.

[@user-te3qq1rb7u]

Don’t think too far into it you’ll ruin Dave’s narrative.

[@tear728]

It's all about getting a high salary, using compound growth, and being patient. High salary jobs should allow you to put 5k away a month into a high APY account or the market. Let's say 5% annual return - you're near a million cash in 10 years.

[@IL_Bgentyl]

I’ll always say it Americans have spending issues not earning issues. Now I’m not saying the quality of life compared to earnings hasn’t fallen. I’m just saying most people want to enjoy their money and others will sacrifice to have money.

[@bernadette573]

Theo often plays footsies with himself, putting one shoe atop the other, and Ramsey does the same thing lol 03:48

[@cyxxty5522]

My mother is an attorney and she paid for my whole college fees, so that makes.😅

[@DannyBoy443]

So, does anyone else hear the same thing in the same style every time Dave "speaks"? lol.

[@donaldlaury7193]

Same results as 20 years ago in "The Millionaire Next Door." Great read for those interested. Also teachers are so high on the list because they learn to budget and not spend beyond their means since they don't get paid during summer break. They're sort of forced to learn to become savers.

[@crhoads13]

IMO: Easiest way to become a millionaire is to start a business and grow it to $200k profit. Then you can sell it to an investor for 5X earnings.

[@Mcballerboy23]

Investment bankers aren’t on the list ?

[@debe1236654]

Lol @ Dave

[@kevingen5461]

"You shouldn't steal people's hope man, that's evil." You shouldn't turn a blind eye to the truth, Mr. Ramsey. Carlin even said you have to be asleep to believe the American Dream. Just because Ramsey was able to reach wealth doesn't mean that everyone else has the same opportunity. He assumes life is fair or something.

[@bzukofsky]

Rule 1 never listen to a man that tries to get you to pay for a course that makes them millionares

[@amulet2235]

Instead listen to a guy commenting on KZbin who isn’t a millionaire

[@Jbb7272]

I kind of feel like if his products and services didn’t provide value then no one would give money for them. But it’s just a feeling.

[@fhgdngdfh]

@@Jbb7272 awful way of looking at value. McDonald’s makes billions every year and what value does it provide other than quick shitty food that makes you fat?

[@Jbb7272]

@@fhgdngdfh The convenience is what gives it its value. And right, wrong or indifferent… obese Americans value the convenience over their health. So there is still value their and McDonalds is the best at marketing their value.

[@matthewcaldwell8100]

Being born into a real estate family and selling idiots on finance tips that all require you to be middle class to begin with seems like a pretty solid racket.

[@Dud-in9iu]

People always talk about how much they have in assets, but even better than that is a pension that increases with cost of living every year. In addition to the assets I own (6 houses, six figure 401k, physical silver, and Bitcoin/Ether coins), I have a pension from my federal government job which will pay me $6,000/month (plus increases every year at the same rate as inflation so it will never lose purchasing power) for the rest of my life. I'm 38 now and will be able to retire at 45. I also plan on living overseas in Latin America, so my money will be worth the equivalent of triple what it is here in the U.S. The key isn't to have a high prestige job, it is to have a methodical process based mind, earn more than you spend, and stay focused (follow one course of action until successful). The key being ONE course of action; don't chase every new hair brain scheme that comes along (drop shipping, crypto investing, day trading, MLM, etc.).

[@NotSoHeavyD3]

I just wanted to point out much of what Ramsey said about doctors is wrong. His info on "most millionaires" is really 3 things. You make enough, you live a life style to accumulate wealth, and third it's a job you can actually get. Put another way when I looked it up there were 1 million doctors in the US, there was 4 million teachers. I also looked it up and most doctors (56%) are millionaires. What that means is if at least 15% of teachers are millionaires there would be more millionaire teachers(600k) than millionaire doctors. (560K) So the big reason why doctors are #6 is that most people simply don't get to be a doctor. (It's even more amazing when you realize you don't really start your career as a full doctor until you're around 30 and you'll start hundreds of thousands of dollars in debt.) There are also more engineers and accountants than doctors. (Admittedly you can still become a millionaire without a huge salary but it's easier if you have one, like being a doctor.)

[@rileyinks5112]

As a former teacher, I have one question: are those millionaire teachers married to people who make more money than they do?

[@stevenjames14]

Strange combo

[@defendfreedom777]

The first mistake is buying a house,buy land live in a tent if you must while you build your house,live below your means and save your money it's simple.I know a lot of wealthy hillbillies here in these backwoods where many people are self sufficient and looked down on by society and this is just the way we want to keep it.😉

[@harryknutts8428]

truckers do good too , i truck , the challenge is to get out of the trap of working paycheck to paycheck and feeling hopeless so the little money u could save u spend on stuff or weed or beer , the way out of the trap is learn something that the worlds in demand of like truckers or teacher or plumber etc but the secret sauce is to find something u like

[@fhgdngdfh]

The key to getting out of the trap is a retirement plan and saving any extra money you make. The hard part for most people is the saving, way too many opportunities to blow your money.

[@harryknutts8428]

@@fhgdngdfh I think that’s the thing is you have to believe you can escape the trap until that happens you’re just living for the day

[@user-fj6ts6bt7z]

I agree with Dave's assessment that most self-made millionaires are "process" kind of people. I, for one, am very much a process thinker. I can see projects from start to finish. Once I started investing, it just became a project. I'm a retired tool and die maker, and always been good with numbers. He's right about home ownership. I had my first home paid off at age 44, first million net worth by 50, 2nd million at 60. Now at 67 we're looking at 3 million in net worth. Yeah, even I shake my head sometimes wondering how this kid from a little mill town with no college education did it.

[@JamesWebbFitness]

I agree with home ownership but your primary residence does not contribute to your net worth because it's not an asset it's technically a liability.

[@docd2295]

The equity you build in it is an asset

[@bryan_witha_whyy]

@@docd2295Yeah, as long as you keep track of all your maintenance and repair costs and subtract those out.

[@focojeepr]

The standard definition of net worth does include primary home equity.

[@bryan_witha_whyy]

@@docd2295 Only if you subtract all the costs you put into the house.

[@cannednolan8194]

I grew up next to a millionaire. He got his money through selling fire wood. When people used wood to heat their homes. You wouldn’t know they where millionaires. They didn’t have children. Everything was very well kept. Even the lawn mower was 20 years old looked like it was purchased that week. The only thing that he did that would let you know. When he went to the bank. He didn’t go into the bank. The manager would come out to his car with the paper work and it would be done there. The other thing is when he passed the family member that you never saw where there like vultures. His wife had a heart attack/ stroke waking up next to him after he had passed. His brother found the will. Will got destroyed. Making it so he would be in charge.

[@shockerthreeone]

I’m a pilot and make bank. Cant believe we didn’t make the list. Oh, and I didn’t waste time getting a degree, not necessarily to be a pilot