Dave Ramsey Explains "The Secrets Of The Rich"

[@austinpatrick2682]

Clean cut advice. Don't put your money into something you don't understand. That's the simplest most brilliant thing I've heard all day.

[@austinpatrick2682]

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

[@CmoIsDaNam3i]

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

[@wk3820]

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

[@JB-kx9bx]

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

[@nervotica7991]

@@JB-kx9bx - good idea.

[@SidDeanDFWHomeandRanch]

I was driving a 2001 Chevy truck w 250k miles. I took care of it and loved the truck but was beginning to have issues. My wife asked me to do her a favor . Would I please quit being so cheap & go buy a new truck that was reliable. So I bought a used 2016 with all the bells & whistles at 1/3 price of a new 2020 model. Now we’re both happy. One of best advice I got early in my life was “ happiness is not having everything you want but being satisfied in having everything you need”

[@insideoutsideupsidedown2218]

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

[@perennialrose4096]

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

[@banksterkid5930]

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

[@hdvideoman6231]

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

[@danielwright3858]

😊

[@verysmarteducation]

Get rich slow is better than TRYING to get rich fast. Hustle and discipline is required in the beginning.

[@mac1bc]

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

[@verysmarteducation]

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

[@mac1bc]

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

[@evanserickson]

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

[@DrAAAli]

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

[@gunsengaming8369]

I was just about to turn 20 $30,000 challenger $1,000 a month delivering pizza thinking i was doing it but not saving a dime and then found Dave (thank god) sold that thing got a car I’ll pay off by the end of the year i have 7k in savings paid off phone still live at home started my own profitable business and excited for my future THANK YOU DAVE!!!!

[@natecostachess]

How are you doing now?

[@tarynhansen9826]

Congrats buddy. Keep it up

[@ryebread447]

Update?

[@rainetravels1410]

Update?

[@NickPeitsch]

Pay off debt. Save money. Invest invest invest!

[@NickPeitsch]

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

[@tallswede80]

You should have recommended precious metals.

[@Lightylight]

Man I love Dave. He’s what we need in this generation.

[@janecoe9407]

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

[@mixedbagclips2511]

“He has 200 million dollars... what you have is an opinion...”. Ouch....

[@kenpca]

That was awesome lol

[@robedmund9948]

Truth typically stings a little.

[@ckrumme2331]

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

[@weirdnomad8868]

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

[@muskpool4109]

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

[@Useruytrw]

Rich People stay Rich by spending like Poor People. Poor People stay Poor by spending like Rich People

[@markwhittaker6866]

PREACH!

[@dangeles95]

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

[@ciel222]

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

[@dangeles95]

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

[@TheLifeJOGJourneyofGrowth]

Simple!!!!

[@reggiegabriel2545]

“Don’t put money into things you don’t understand” will be taking this advice & sticking with what I know.

[@unnamedchannel1237]

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

[@ErrorPagenotFound-ig1cy]

1) save more 2) live within your means 3) invest in your retirement and stay faithful 4) beans and rice, rice and beans

[@murpheus1107]

“He’s got 200m dollars - what you’ve got is an opinion” absolute CLASSIC Dave Ramsey. Live this guy and his company and all the great presenters on the show, watching from across the pond and making HUGE progress on the baby steps myself!

[@ladolcevitauk1474]

Dave, you were really in the zone here. It’s good old fashioned guidance that works and has stood the test of time. Thank you!

[@magda3113]

I’m very happy for your success Mr. Ramsey. May God bless you more and more.😊

[@bodhitree33]

He invest, he layback, But most import he sass back.

[@stephanieblopes]

bodhi tree 😂😂😂

[@JiisTube]

😂😂🤣🤣

[@Jordan-ce7sf]

Ur awesome lol

[@sipstea26]

The KISS (keep it simple stupid) principle... I love it 😂

[@sipstea26]

@@justinacase2623 lol

[@larryher1]

Thank You Dave! Very well said ✝️ ***The most important part in my interpretation was “don’t idol or worship money because God will take that away” “don’t let money take over your spiritual life”. As this is the main 🔑to your meaning and purpose in life. All else comes after 🌎

[@janecoe9407]

HE WAS V ERY C0RRECT WHEN HE SAID THAT

[@garys8415]

Invest in yourself, read your Bible🔥 Pray and fight on your knees 🕊

[@jesussaves5141]

AMEN AND AMEN

[@Jelly._.cat._.1]

It’s not so much about being a millionaire by age 60. It’s about how much cash flow you have through out your life. Easiest way to do this is to do the 7 baby steps. I’m on 3, but I can see why this works. I hope to have 2 rentals and my place paid for full by age 48. This way if my job gets ride of me - I can laugh, instead of cry. And when I die - I have 3 houses that are PAID to my daughter

[@cherrytung]

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

[@KennethSee]

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

[@jamesd2661]

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

[@66gtb]

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

[@Red_1976]

Very inspirational! Well done 👍🏼

[@Southern69Love]

Best line ever. "You know what color car I drove? Primary color was bondo!" HAHA omg that was hilarious Dave this is why I love you.

[@alainbrutus]

Getting rich is a process day in and day out. Staying broke is a process day in and day out.

[@markwhittaker6866]

Exactly.

[@letro73]

I’m very sad I didn’t knew Dave Ramsey when I was younger. I really could have used that advise.

[@markwhittaker6866]

It's not too late.

[@dangeles95]

Better now than never! Start today!

[@vivianp5962]

I know right.

[@j.l.salayao8055]

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

[@Tubalcain422]

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

[@jasoosone727]

😂 I haven’t heard the word ‘goob’ since I was about 15... I’m 51 now 😂 I’m dyin’ over here

[@virtuosowins]

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

[@chrisbellamy7145]

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

[@markwhittaker6866]

😂😂😂😂

[@Christophernorbits]

You're the best, I hope to constantly improve myself to your level of integrity and generosity.

[@tormis1987]

Pure gold. I just got myself a new car and when i mean new, its new for me. Drives nice and cost me only 1 months pay, so no every month payment for me, no thanks.

[@letitflowpodcastwithibidun]

Invest only in things you understand!

[@NK-ke6yy]

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

[@Mandan...77t]

You 're one of a few who advices us to do better for ourselves and communities. Most the guys speak about money is take it if not all of it through buying cars and benefit their own pockets. Thank you for doing what you do

[@justsaying9913]

I like the advice Dave! Keep it simple. Plan plan plan. Same approach as planning for college, for a party, for a trip. Make it easy on yourself, plan early, and love what you invest in 👍🏼

[@mers6420]

I love that advice. Be generous to others.

[@MarxAlex]

Thanks dave, I watch your videos every day and you are an inspiration!

[@freedomring3022]

my favorite is when you tell people "stop spending money you don't have" ... their answer is always "you simply don't understand"

[@genxx2724]

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

[@30deblanc]

“Limited family partnership with a double back flip trust” 😂

[@sanjeevwasritharan5503]

Thank you Mr Dave Ramsey. All your advice has been a great blessing to me. You've made a positive impact in the life of my family and I. God bless you.

[@devinparker1748]

Dave, where were you when I was 25 years old?? You could have saved me a world of pain!!

[@revoredline]

Don't blow it. Keep it Simple. Count your money.

[@RichAction]

Like he always says quickest way to be wealthy is to get out of debt. So Simple.

[@robertspencer5219]

It is a great start!

[@RichAction]

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

[@Corpsecreate]

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

[@RichAction]

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

[@Corpsecreate]

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

[@MannyWC]

I think this is the most succinct show I’ve seen yet. All in a nutshell. Thanks DR!

[@gregheath8016]

Thank you Dave Ramsey for all the good you do in the world. You are a true inspiration and a beacon of enlightenment. Your wisdom has helped so many people. Just want to say thank you for all of the good that you do.

[@rachprincess]

I’m on baby step 2, 8k left to go. Thank you so much Dave! You & your advice have saved my life from impending financial ruin

[@themontephone875]

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

[@CraigsCuts]

I invest in my lawn company. No stocks, just equipment and people. I know what makes money and it’s hard work plain and simple

[@justinegede2176]

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

[@jailee1393]

Please do...

[@markwhittaker6866]

Very very true.

[@johnmendoza6421]

Smart man

[@bottledoo3639]

I look up to you Dave. Thanks from Canada God bless. Praying for your continued success and this ministry of helping others finally and spiritually.

[@DustinDeweerd]

There goes the Kermit the Frog voice again. Love it.

[@cherryhiticas8823]

makes me laugh each time he does that! hahahah

[@JulioLopez-xz5kx]

KREMIT the frog. Look it up. Lol

[@Vidja001]

🤣🤣🤣

[@ALXSSA]

This is why i havent invested yet, i dont understand much of it 😂

[@MrsThollo]

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

[@cloroxbleach175]

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

[@cherrytung]

invest in knowledge before you invest in anything else :)

[@trinatruly5505]

Same here!

[@cherrytung]

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

[@Tweegrrl]

"I'm a capitalist pig and I'm proud of it." haha love it

[@bcdkp]

Oink!

[@thejourney1943]

@PoopCoin Patrick he is Helping them

[@HB-ow9wy]

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

[@michaelfleming40]

So am I. Capitalism ROCKS. ❤

[@AnimatedIdiotGuide]

Well he got the pig part right

[@justownyounetwork1943]

Developing a thorough understanding of your investment vehicle is always crucial. You should never make a decision to part with your money into anything unless you take the time to do research and thoroughly understand your particular investment vehicle. Make sure you also take the time to clarify yourself on the risk/reward scenarios in every financial decision you make.

[@kheevLAM]

I need to invest in his "double back flip trust" 😂😂😂

[@markwhittaker6866]

😂😂😂😂

[@jeremyrussell4177]

it'sGeenie 🤣🤣

[@dmitriyr4095]

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

[@paulconner4614]

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

[@JiisTube]

"a limited family partnership with a double back-flip trust!" 😂😂😂 Love you Dave

[@mariotedeschi2445]

“A limited family partnership with a double backflip trust” I honestly thought that was a real thing...

[@daniell8992]

I love how you incorporate spiritual life into your financial life. Keep it up man!

[@Renbacktome]

Words coming from the mouth of a true smart person like Dave ramsey! Thank you for your helpful advice .and yes Jesus comes first! Keep your faith!

[@kevini4295]

I love Dave Ramsey. His advice is clear cut. I am in the process of paying off my debt with the baby steps. With that said I have about 14k in retirement savings I am not touching so I don't get killed with taxes. I put it into 3 of the 4 mutual type funds that Dave suggests.

[@buzzin6895]

I'm an atheist, but he's absolutely right about giving.

[@ryankiel4895]

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

[@jeanniesabol5410]

Go Dave. So right about so many things.

[@teknoh]

"Invest in what you understand". So true

[@kiatalks555]

I love Dave Ramsey. Cool won't make you rich, that's the truth!

[@davidrenzetti5623]

you are doing good work on very many levels

[@errolm8313]

Love the straight advice

[@constitutionalstacker5701]

I agree with not investing in something people don't understand. That is HUGE these days it seems like. Good advice.

[@calebdoner]

Classic, fantastic Ramsey advice

[@NoDebtButLove]

Always invest... give generously.

[@Idiotsincarshere]

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

[@pistachiosandpopcorn7146]

Also remember that you should only buy a BMW if you have enough in the bank for TWO BMWs. Because when you buy a BMW..the high cost has only just begun.

[@aoropeza85]

God bless you, uncle Dave

[@dauntiekay2768]

Thank you for this video I so needed something like this! I am retired and had wondered what I should invest in and since I have been renting for almost 30 years--I think I might continue that line of investing.

[@ericlinck6664]

Thank you Lord Jesus for your financial prophet Dave Ramsey with his message & advise . America needs to take heed !

[@KlassicApparel]

Finally i found a realist. THANK YOU

[@c103110a]

Don't be greedy. That's what did in Madoff's "marks".

[@cashboy7406]

We need more millionaires like you Dave. There's some millionaires out there doing some very terrible and nasty things to people with their wealth and influence. It's very difficult to catch them when they live in big houses in gated communities.

[@Buff_Kangaroos]

GRATEFUL for your advice!!

[@peetos-chan2835]

Dave, I find your approach to money with Jesus at the center is awesome. Thanks!

[@LyonsArcade]

His comments about Madoff at 1:20 are dead on the money. I have a friend who's father got snookered by some guy at Church. The guy told several people he could invest money for them, etc. he lost 25K for my friend's father and several other people for who knows how much. The guy still goes to the church and nobody has the balls to even bring it up to him. Craziness.

[@themontephone875]

Joe's Classic Video Games . Hmmm...who are they worshipping. Leave church and tell the main why. Solved. Yep!

[@TrueEarth369]

My buddy does real estate flips & investing in San Diego area and he advocates using debt.. he is a millionaire at 35 years old & manages millions of investors money.. he’s encouraging me to use debt but I understand Dave’s philosophy better.. it’s simple and makes more sense but it’s a slower path to wealth, it seems. Thoughts?

[@tucky3191]

KISS

[@TrueEarth369]

Not listening to your broke friends is a no-brainer but what about your rich friends who say “use debt & leverage.. it’s fast & smart” ??

[@CherylMacKay11f]

Because they’ll always be in debt.

[@slyfoxx2973]

Being a flipper can be a fast path into wealth or into a brick wall. Debt--->risk--->stress which can lead to poor decision making. Could not council going into debt to "get rich quick".

[@TrueEarth369]

That makes sense. It can be tempting when you see the fruit on other peoples trees and they’re telling you how they grew it

[@johnson81508]

A double backflip trust, going to have to look into that 😆

[@jcrb8894]

It’s new and it’s cool!

[@LyonsArcade]

5:35 "And if some of you liberals don't like that.... well, Toughies!!!!" I'm dying over here

[@animalmother5902]

Joe's Classic Video Games ok boomer

[@johntiedemann2520]

Thank you so much for pointing out that, I am moving on right now 👍😁!

[@brianmcg321]

VTSAX. The only thing you need to know about investing.

[@silverbullet831]

brianmcg321 VTSAX and chill

[@Bubbasizer]

Vtsax and real estate, as a matter of fact I used VTSAX to buy this house I am working on at the moment as a future rental.

[@xxP1ST0LER0xx]

What’s VTSAX

[@MrTmenzo]

@@xxP1ST0LER0xx a mutual fund. You need 3k to open one up.

[@janetcross2797]

I trying thank you for all you do and done

[@1HeatWalk]

1) AVOID PAYING TAXES

[@vini541]

thank you for your knowledge.

[@dexterm1285]

Dont blow it Keep it simple Count your money

[@madadder9148]

LOL, fan of Michael Vick's financial advisor?

[@dexterm1285]

@@madadder9148 ha, Bill Burr the comedian has a good podcast about that 30 for 30 show. But the advice actually isnt bad...its just dumbed down for athletes.

[@J_Carch4]

Just canceled my Tesla Cyber Truck preorder... Gotta keep reinvesting. Capital is key !

[@scoutandscooter]

NEVER going on a cruise unless I'm the skipper.

[@Edmundowgd]

I love hearing you !!! Talking real life stuff

[@Caliboyt21]

I’m liberal af and rock with Dave 🤙

[@HB-ow9wy]

So maybe you can answer me this, why does he assume that you would hate him buying his own car with his own money?

[@kryptoniterocks8245]

Your a beautiful role model Dave thank you

[@cooperscreditconsultingint6792]

Thank you Dave!!💜

[@Gxbrxela]

i would love to see him and graham stephan having a discussion.

[@inertiaforce7846]

Graham Stephan is nothing but a 30 year old punk kid. Dave Ramsey is twice his age which is twice his experience.

[@universe999]

thanks a million

[@kennethhasuik8042]

Exactly I agree with everything Dave is saying here.

[@trippyward2260]

I love you, thank you.

[@pradeepkp7276]

You are a good man

[@SidinPhilly]

Great comments

[@user-qr7ee2cp4y]

Secrets of the rich: spend less than you make and invest the rest. Secrets of the poor: spend all you make and put what you don’t have money for on credit... and rent/lease everything.

[@Lala-ft1mb]

Where do I invest?

[@laurencewright3021]

Now you know what I drive, any frickin thing I want…love it 😀

[@thesaneparty4079]

Where can we hear more about this double back-flip trust?

[@andrade5470]

Fastest return on investment; 1. investing in someones good business. 2. building a business that provides a solution for you and others. ie. making you and everybody else's life easier 3. providing an hourly service and getting an hourly wage. risk level; 1. high 2. medium 3. low.

[@shavneelnand1976]

Question: what Mr. Ramsey said about paid for real estate now is that is form of passive income or because that man can afford to pay off his real estate swiftly? Reading the Total Money Makeover it sounded like having a mortgage as the only form of debt was a plus because of how it can generate positive gains.

[@dipaknadkarni62]

Great advice. Get rich by being astute and unassuming.

[@marthenluther5325]

Wow.. I am now your subscriber, Dave!

[@steven1boricuavideo]

Love this guy 💯

[@donstevens7847]

Very insightful Dave, thank you very much!

[@i_am_Adrian]

"He is a rancher it's what he knows" 1:56