I am a senior citizen and I believe that no one can become a millionaire overnight, it takes years of smart not hard work, time management and the right investments. Every year you don't invest you simply fall a year behind and I say this from experience.
@Higuannn5 ай бұрын
This are some of the many reasons why a few Neighbors at the Bel Air Area, myself included use financial planners. It is difficult to combine work and investments.
@Angelavaldess5 ай бұрын
@@Higuannn It’s important to consult with a financial advisor before making any investment decisions. My two cents.
@Jaymilnere5 ай бұрын
@@Angelavaldess I think that is a brilliant idea, I tried managing my stock portfolio by myself and I lost 50% of my savings in a very short period. That prompted me to hire a financial advisor. Since then I have made up to $680K in returns.
@DanielPanuzi5 ай бұрын
@@Angelavaldess I'm glad to have stumbled on this commentary, How can i find a decent advisor, It has been very challenging?
@Jaymilnere5 ай бұрын
@@DanielPanuzi Sure, Alicia Estela Cabouli is the licensed advisor I use. You’d find necessary details on the web to set up an appointment
@shuraandrew2 ай бұрын
I know one thing for sure, starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
@JaneGill-fd9im2 ай бұрын
Getting a head start on building wealth is crucial, and having a solid strategy is key, personally I think having a coach is the smartest move in today's stock market.
@Tom-l2n2 ай бұрын
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $300k stock portfolio.
@Rachelp4u2 ай бұрын
There are strategies that can yield solid gains in any economic situation, typically implemented by a portfolio strategist with a lot of experience. My friend introduced me to a financial advisor in 2022 and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream.
@IreneJHirst2 ай бұрын
Most folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve not with standing inflation, from 275k to 750k
@Tom-l2n2 ай бұрын
Talking about advisors, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks.
@lawrencedyke3 ай бұрын
Achieving success hinges on the steps you actively take toward it. Accumulating wealth involves cultivating positive habits, such as consistently setting aside money at intervals for robust investments. Financial management, often avoided by many, can later become a haunting issue. My hope is that anyone reading this finds success in their journey!
@SeanTalkoff3 ай бұрын
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learned from my last year's experience, I am able to build a suitable life because I invested early ahead this time.
@tmer8313 ай бұрын
I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks.
@DavidCovington-st2id3 ай бұрын
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 $121k ROI, and this does not include capital gain.
@tmer8313 ай бұрын
Hello Dave, How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@DavidCovington-st2id3 ай бұрын
My CFA ’’ Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!
@Redwood40402 ай бұрын
I'm an amateur investor with a portfolio of 270k but it's hard for me to build confidence. I want to invest another 140k over a one month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Any stock suggestions?
@zuniganichol112 ай бұрын
Not offering any particular advice, but I can assure you that it's not as hard as many people think it is. Ordinary investors lack the requisite level of diligence, so having a financial advisor on board is usually highly beneficial. In the market, this is how people generate enormous profits.
@frankchappellxz2 ай бұрын
I agree. There's a lot of potential in the market. My friend introduced me to a financial advisor in 2021, and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream to start a restaurant in New Jersey and still earn five figures in monthly dividends.
@NormanGhali2 ай бұрын
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?
@frankchappellxz2 ай бұрын
*Sharon Lynne Hart* is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
@FeelMyTruth2 ай бұрын
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
@EthanBrown_232 ай бұрын
I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor. I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next. Is now the right moment to buy stocks, or should I wait for a better opportunity?
@mikelee00722 ай бұрын
Join the Oxford Club. Smartest thing I've ever done with my money.
@RobertBrown..Ай бұрын
The strategies are rigorous for the regular person. In fact, they are primarily executed successfully by professionals who possess a great deal of expertise and knowledge to carry out such trades effectively.
@Angelinacortez495Ай бұрын
Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
@danieltaylor--65Ай бұрын
That makes perfect sense; you seem to have a better understanding of the market than we do. The coach is who?
@Angelinacortez495Ай бұрын
'Laurelyn Gross Pohlmeier' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@avaisabella-n5b2 ай бұрын
The difficulties that the current generation faces are quite depressing. I wanted to know how to use some money that I had. I used a small portion of it for online sales, but that failed. My primary concern is safeguarding my $300K stock portfolio from loss, but I'm not sure how to go about it.
@alicegomez72322 ай бұрын
Yes, things may be difficult now, but I've realized that there are always possibilities to make significant gains in bear and bull markets, recessions, and economic booms. I used to call people out when they boasted about making a fortune in these down situations, until I actually did.
@margie-b2v2 ай бұрын
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
@NicoleWillams-d1q2 ай бұрын
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@margie-b2v2 ай бұрын
My CFA ’Monica Shawn Marti’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@NicoleWillams-d1q2 ай бұрын
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you.
@tommychestnut5335Ай бұрын
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
@Patriciacraig599Ай бұрын
You should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
@traviswes7082Ай бұрын
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1M in returns on investments.
@Alejandracamacho357Ай бұрын
I've been getting suggestions to work with one, but where and how to find one has been challenging, Can I reach out to the one you use?
@traviswes7082Ай бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with "Kathleen Cheryl Constantz’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@RobertgriffinneАй бұрын
Watched Kathleen deliver presentation on Goldman Sachs summit some years back and it was superb. Was very grounded.
@cashflow685 ай бұрын
I hit the millionaire status at 54. It took me 26 years. Yes it does take time.
@grahamcarmichael65675 ай бұрын
Nice. It hit it at 53 and it took me 25 years. We all have our own timeline.
@cashflow685 ай бұрын
@@grahamcarmichael6567 congratulations! Btw I don’t include my primary residence as part of my net worth unless I wanted to sell. So my millions are just passive investments.
@johnplg25865 ай бұрын
Any advice you would give to a 23 year old trying to achieve this?
@cashflow685 ай бұрын
@@johnplg2586 live below your means and invest. Investing takes patience
@tyguy0705 ай бұрын
@@johnplg2586to follow the advice in this video 😊
@chrisevans-i5y5 ай бұрын
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
@HermanBekkink5 ай бұрын
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
@KateShawn-jv6wh5 ай бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@RobertFarley5325 ай бұрын
Mind if I ask you to recommend this particular coach to you using their service?
@KateShawn-jv6wh5 ай бұрын
Leticia Zavala Perkins, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
@AngelMark-mk5sv5 ай бұрын
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
@Vivienedouglass5 ай бұрын
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
@kurtKking5 ай бұрын
well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
@Kaustavpatell5 ай бұрын
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
@Benedictrud5 ай бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
@Kaustavpatell5 ай бұрын
Actually its a Lady. Yes my go to person is a ‘MARY KALIOPE BRAUN '. So easy and compassionate Lady. You should take a look at her work.
@Benedictrud5 ай бұрын
i am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
@LucyNicole8664 ай бұрын
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.
@GregoryBingham-us4 ай бұрын
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
@BobPage4494 ай бұрын
She is my family's personal broker and also a personal broker in many families in United States, she's a licensed broker and a FINRA AGENT in United states
@MathewDawnson4 ай бұрын
You trade with Michelle Stewart too? Wow that woman has been a blessing to me and my family.
@AdamMontoya3324 ай бұрын
I'm new at this, please how can I reach her?
@Jerrypopmno4 ай бұрын
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
@DBiggsWoodworking5 ай бұрын
I picked up woodworking as a side hustle, it's going so well that I'm making it into an LLC as we speak. Thank you for all the awesome tips and advice, my finances have never looked better!
@Maguirehook5 ай бұрын
My wife and i net worth was 62k april 2020. Just hit 550k this week
@Chloe_emm5 ай бұрын
The market took a big dive before April, 2020 that hasn't been seen since 2009,The key to financial stability is having the right investment suggestions for a diverse portfolio.
@Starkham5 ай бұрын
Where did you invest? I'm just trying to learn where or how do I begin so I can start the journey of compound interest. I am 24 and have saved some money, I just do not know clearly where everyone seems to know to put their money. It just says S&P 500 but I don't understand what that means
@DayTradingAddictss5 ай бұрын
I'm 33 just got out of debt I might be behind compared to my peers I'm not happy but satisfied that I’m debt free only want to focus on investing I would appreciate if you recommend your advisor for the right knowledge.
@Maguirehook5 ай бұрын
Have you not heard of Amelia Jason !
@WilliamsJohn-015 ай бұрын
You know her too ? I'm also a proud beneficiary of her superb platform. There are the biggest custodians. I also would not be asking investing advice in the KZbin comments. 80% are scammers.
@RoadDogRiley5 ай бұрын
Ten years ago, I was debt free. Now, I'm over $50K in debt. Why? I didn't have a goal. I also borrowed and spent money on things that I didn't need. The first thing you have to do is set a goal. My wake-up call is that I am 54 and not ready to retire in ten years. I don't want to depend on inheritance to get out of debt and retire. I now have a goal. It isn't to buy a house though. That is the typical American dream for most people and it does build your net worth. My goal is to retire on a sailboat and cruise the seas. First goal: become a millionaire in ten years. Second goal: remain healthy to enjoy my retirement.
@danielkoontz67325 ай бұрын
You should check out Sailing SVDelos. The guy did pretty much that. Quit office work. Bought a boat. Sailing the world. Met his wife. Had a kid. The 3 of them are still sailing!
@arlenedbrsАй бұрын
Sounds like a great goal! And the fact that you are doing it now also helps. I am 40 and have over 35k in CC debt, got myself in debt over some emergencies and irresponsible spending. I am committed to paying this off, so I can be a millionaire by 50 to 55.
@justoguillermomontoya38215 ай бұрын
Thanks for calling out MLMs George!
@richsamuel29225 ай бұрын
Single, slim, 42, millionaire guy here. He's spitting facts. I love the feeling of no debt whatsoever.
@TommyGunzzz5 ай бұрын
married, fat, 24, billionaire here....
@sethjenkins-jg2vv5 ай бұрын
Respect!
@BigJohnM5 ай бұрын
Married, 3 kids, 43, lethargic here. I am not a millionaire but I will be, following the advice of Ramsey solutions. Yeah I feel like a bot right now but life is good. When your money makes you money it is a sweet thing.
@jeremiahm14135 ай бұрын
Are you me? Am I you ?? Well, all but the millionaire part ~ $400K or so. But NO debt, so it's building up fast now!!
@dcamnc15 ай бұрын
Unborn, zero pound, billionaire here. I love the feeling of being superior to everyone.
@wan34165 ай бұрын
We’re halfway there at 34 after 7 years on the plan. On our way to go buy a van for cash for our soon to be here 3rd baby while continuing to invest in our retirement on one income.
@republicunited21835 ай бұрын
Opening a Roth for my soon to be 18 year old son. Couldn’t do it earlier, so I’m hoping to give him a better start. The UTMA will help too.
@meve5315 ай бұрын
I can't hear "1,000 Miles" without thinking of Terry Crews 😂😂😂
@humbertondambi8025 ай бұрын
What happened to him?
@jh26pt25 ай бұрын
He became President of the United States. Didn’t you see “Idiocracy”? He spoke in front of the House of Representin’ just the other day.
@SamAndrew27Ай бұрын
That's so cool you licensed your original music, George! Nashville is a great place for that too.
@r3bennett5 ай бұрын
We were Dave-ish until three and a half years ago. Once we stopped being Dave-ish my wife and I have seen our net worth more than double.
@getinthespace77155 ай бұрын
Anyone can be a millionaire... Just need to start saving and investing young. Live frugally, save and invest 15-30%. Keep looking for opportunities to improve your income.
@BigJohnM5 ай бұрын
You don't even need to invest over 15 percent. Time is your real factor. 18k saved in an index fund for 40 years will get you to a million without putting in anything else but the initial 18k. Check out George's video on the power of compound interest which is his 100k video.
@jarodfranklin10815 ай бұрын
I’m 32 and will hit millionaire status this year. If you want to do it quickly you need to start a business and/or invest in real estate. Hoping someday the Ramsey squad will help people in these ways too.
@earitch58565 ай бұрын
Love the principles and I'm not a Ramsey hater, but if I followed Dave's advice to the T, I wouldn't have bought my home which is now worth twice what I paid for it 6 years ago (in what was considered a hot market at the time), nor would I have lost money investing in small cap and international mutual funds. There are going to be different situations where sticking to Dave's plan will frankly delay your wealth building... buying a house today with a 15 year mortgage as a rule is probably the largest rule to ignore - if you can do that then great, if you can then you're likely already independently wealthy. Eliminate revolving credit, pay off high interest accounts first, have a budget, be frugal and smart -- but know that your situation is going to be different than others and you should act accordingly.
@oli08085 ай бұрын
15 year mortgage and only 25% of NET income. That's so low. I'm in the UK so maybe it's different but house values are typically 5 to 6 times Gross Income. I've done just that and on a 30 year mortgage it's about 35% of net income. My home is more than I need but the smallest I could get away with would still be about 25% payment on a 30 year mortgage not a 15 year mortgage.
@imitationpitaya5 ай бұрын
No, it’s not just y’all. Housing prices on this side of the pond suck too
@larryronhartfield555 ай бұрын
Buy a good cross section of an economy, Build a diverse portfolio that keeps you motivated,Speed up the process where possible:i'm all for dividends and i DRIP into etfs (ARKW, VOO, VXUS, IVV) and company stocks. After my first million I realized that when a stock starts booming chances of you finding out means you are quite late to the party, for this I make sure my CFA handles that, ever grateful to Anna Rounds Fay.it's like turning your notifications to earn more millions.
@taylorgreen59085 ай бұрын
Smart, I must commend you because etfs will keep making you solid profits through compounding while the other stocks pays monthly although advantageous you must've started big
@oliviarenereyes5 ай бұрын
Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@stanleyfujiwara13945 ай бұрын
Hey, I'm in Qatar. Wondering if the stuff you recommend is USA specific or does it translate to other western countries?
@bigsteezer9245 ай бұрын
Im surprised when discussing increasing income you never mentioned moving companies. I doubled my salary by doing this. Thankfully Im in tech and this may be more realistic in my field. But definitely consider moving jobs. My first salary was 55k then I left that company for 110k salary at a different company. Doubled salary in one hop. Then a few years later I went from 120k to 170k by switching companies again. Shop around for employers. Sometimes you dont need a side hustle you just need to find a company that will pay you what youre really worth.
@morningmona5 ай бұрын
37 year old and hit 2.1 million with no debt. I worked my butt off and had two mental breakdowns in the privacy of my own home and had health issues. I want to buy a home, but everything in my area is 1-2 million for a decent home which would cut my net worth. I’m single, a fairly attractive and highly educated woman, and I’m worried that the money I have is not enough and I can’t stop working. I’m tired. Money is great, but I can see why people say anyone can be unhappy and unsatisfied whether rich or poor. I think once I get to 4 million that will be enough but…at what expense?
@JoeFromSomewhere23035 ай бұрын
"The late novelist Kurt Vonnegut informed his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responded - “Yes, but I have something he will never have ... enough.” No milestone will ever make you feel complete. You need to find out why you dont feel fulfilled and work on that. I felt super behind when I first started investing and I invested like crazy (and still do lol). But I realized I would need a milestone where I felt I had "caught back up" and after thinking about it over the course of several years I realized there won't be a point where I feel caught up. So gotta appreciate doing the process. The process will get you to the end goal so make sure you enjoy the process cuz the end goal will never be rewarding in the way you want it to be.
@V8Brah5 ай бұрын
Buying a home wouldn't cut your net worth. You're just moving money.
@AT-hs9nf5 ай бұрын
I am 41, in the same boat as you except I am a guy but I did build a home last year. And your net worth doesn't diminish. You are just changing asset allocation. Home in the longer run will only appreciate IF in a good area. So if you want a home, go for it. End of the day you ain't going to take money with you 😊 Or even better move to a diff state IF you can or want to. Easier said than done but you will be fine.
@robert77375 ай бұрын
Focus less on work and more time towards building a relationship where you can now be dual income and get laid more regularly/meaningfully and buy a house together.
@AlyssaWolverton5 ай бұрын
Trust me, no number will make you feel good enough. Learn to live and serve.
@anthonykence99545 ай бұрын
Most new homeowners can not afford a 15 year mortgage. The payment wont be affordable for them. Take a 30 yr mortgage and make extra the principle
@bvoyelr5 ай бұрын
George would respond: "If you can't afford a 15 year mortgage, you can't afford the house." Make of that what you will. I tend to agree with you, but there's something to be said for being frugal and using the equity from the cheap home to upgrade to a bigger, better home later.
@singleparentfire23635 ай бұрын
Slow and steady wins the race
@cameron-white3 ай бұрын
No, it just means you’re finally a millionaire when you’re old and dripped and can’t actually enjoy being young and rich
@markamark1235 ай бұрын
As a French bull dog owner. I agree, but Maverick still is priceless to me.
@kingsgold5 ай бұрын
Yeah. for that kid to get to $1Mil in that short a time is to be a business guru turning that $100k into a new business that nets him $100k per month. It IS possible, but it's hard without knowing his skill set that he can use to start a business. Not something easily doable for most people. Most people would take years or even a decade or more to have a business to get to that point.
@NotKimiRaikkonen5 ай бұрын
It's 47% compounded yearly, which is a ton of risk
@NeverAloneNeverAfraid26 күн бұрын
I can’t with “Uncle” George 😂😂😂😂
@DenzelNapoleonRodriguez5 ай бұрын
Research needs to be updated because with social media, technology advancement reaching a millionaire within 7-10 years or less is way more achievable now and you don’t need to take unnecessary risk by investing into things you don’t understand or cutting corners
@caesa4616Ай бұрын
this is encouraging. my investment horizon is 28 years and if everything goes as planned, im gonna be a millionaire (while my parents where lower middle class)
@edithorantes37945 ай бұрын
Would you recommend saving for a home down payment through a high yield account or brokerage account?
@Pandorash85 ай бұрын
Dave’s general rule is using high yield savings accounts if you plan on needing the money within 5 years. If you think it’ll be more than 5 years, then you can invest it.
@NotKimiRaikkonen5 ай бұрын
Can't wait to read all the comments about people complaining about how much cost of living has gone up, like always 😂
@metaltera865 ай бұрын
It’s not really complaining if it’s a fact
@JudeDude4095 ай бұрын
Is it not true though?..
@republicunited21835 ай бұрын
When you vote for left-commies or they steal it from us, this is what we end up with.
@cashflow685 ай бұрын
Cost of living doesn’t affect me as much because my entire stock portfolio pays me dividends. My dividends supplement my retirement
@BigJohnM5 ай бұрын
I think the point is, It just gets old hearing people complain about the cost of living. It's not going to fix anything and it's not going to help their situation out. It's just a crutch that people use to give up and not do anything about it. What they need to do is start making good decisions and get a real plan and execute that plan. I will be honest, cost of living is crazy right now but it's not hurting me. I do less so I can still save and give just like I did back in the early 2000s. Doing is always better than crying about it.
@kovalas5435 ай бұрын
Getting married nowadays is a lottery - risk/reward ratio looks horrible, you are much likely will loose your wealth instantly due to marriage. However I agree that if you are lucky enough to found a decent woman who will be loyal to you this will boost your success in life
@jasonleatherwood21725 ай бұрын
She got a 60000$ check and moved in with her boyfriend no payment at all
@shanep27605 ай бұрын
I'm pretty sure "never carrying a credit card balance" means they paid it off every month, not that they never had a card.
@EcomCarl5 ай бұрын
Great discussion on the realistic timelines to wealth accumulation! It's crucial to remember that while there are quick wins, sustainable wealth typically requires a long-term strategy and disciplined financial habits. Staying patient and consistent is often more rewarding than chasing quick riches. 👍
@oherroprease2075 ай бұрын
South Park came up with accountabilibuddies like 20 years ago. It’s a great episode though lol
@kahouayaj5 ай бұрын
exactly my thought! lol.
@bvoyelr5 ай бұрын
Bah! Wrote the same comment before I checked the comment section! Annoying, but glad to see other men of culture in the audience ;)
@oherroprease2075 ай бұрын
@@bvoyelr Glad I could keep you accountabilibuddyable!
@Pandorash85 ай бұрын
I came here to say this too 😂 Love that ep.
@pdxmusl15105 ай бұрын
Your house value doesn't actually do anything in regards to your net worth. You cannot buy groceries with it. If you have 10 stock. You can sell 1 and go buy some groceries. You cannot really do that with your own house. Unless you buy down in a home. Or you move into a retirement community.
@dking13625 ай бұрын
That simply means it's not liquid. Sure, it affects your net worth: you could sell it to downsize, rent, or even move in with family if a financial crisis hits.
@Twbrooks5094 ай бұрын
The key is to not carry a credit card balance but I don't see any problem having credit cards and paying them off every month. Been doing it for years and ill take my little 2-3% discounts in the form of cash back. Doesn't seem like much but who hates free money if you aren't paying interest on balances right?
@michealpnoel5 ай бұрын
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
@EmploypreneurLife5 ай бұрын
I feel attacked, I’m the Aunt with the wooden wick candle business 😂😂😂
@person-ie1fe4 ай бұрын
Im 22 and have $600k. I worked full time from age 14 after highschool, and during college. And invested it all into tje S and P
@Bum_Hip4 ай бұрын
Paying a mortgage off early that has an interest rate under 5% is throwing money away. As an example, I have a 4% mortgage. If I put $1000 a month into a high yield savings, I will make 1% more on interest than I save by paying down that much on a 4% mortgage. Of course if one has a newer, and ultimately higher mortgage rate, this example does not apply.
@ryanhaynes73775 ай бұрын
he mentioned the lavender oat milk lifestyle creep and and im looking at it on my desk... sad panda.
@longisland_stacker6312 ай бұрын
Nice video, im 29 and my wife is 28, we have a net worth around 385k, im hoping we have the house payed off in 10 years so we can be net worth millionaires by the time we reach 40
@stevenporter8635 ай бұрын
0:07 Caller: George, how can I become a millionaire without working, and by 25? Thank you. 😂😂😂
@iamdachampion092 ай бұрын
Does the 15% include match? I contribute 10% and my company matches with 6%. Does that count for "15%" rule?
@Andi.Plans25 ай бұрын
My 13 year old said that “accountabilibuddies” was used in MLP Equestria Girls! Lol 😂😂😂
@sethsyverson67012 ай бұрын
4:05 accountabilibuddy is from South Park 😂
@TylerofSc0045 ай бұрын
I have about 250k distributed across various investing accounts, with 35% of my capital invested in an ISA and 25% in index funds. In Q4, 2023, I suffered a great deal. I'm just searching for methods to get better in 2024 right now.
@kaisaplews1407Ай бұрын
i save/invest roughly 60% of my income,never had debt or any type of loan i hope its a good start
@flybyav8tor5 ай бұрын
The fastest way to become a millionaire is to help lots of people as a small business. We went from a -$59k net worth to a $500k annual income in 3 years. Lots of hard work and over $1,000 people helped.
@Bum_Hip4 ай бұрын
If you separate yourself from Dave Ramsay, you will gain a TON of credibility, and admiration. Your gains will 100% outweigh any potential losses.
@jasonf8005 ай бұрын
Never do a 15 year mortgage. Always do 30 year and if you can pay it off early, most certainly do that. 30 year mortgage gives greater flexibility to the homeowner in times of stress.
@dking13625 ай бұрын
True, BUT you will carry a higher interest rate.
@V8Brah5 ай бұрын
If you have $100,000 at 19 you should put 100% in the riskiest investment to make the most money. The reason is, even if you lose it, you are young and can make it back easily.
@RobertBeedle5 ай бұрын
Im currently on what would be the equivalent to baby step 6, but it's not completely Dave's plan. I look forward to doing a colab with you someday in the not to distant future. ❤
@benb66915 ай бұрын
The tools and equipment I’ve bought with debt have allowed me to reach my financial success in ten years. I’d still be doing well without it, but nowhere near as well.
@IrisP9895 ай бұрын
We reached a net worth of $1M plus with debt. Does it still count?
@NSGLiv5 ай бұрын
Yes
@vlharmon5 ай бұрын
As long as your assets are a million plus whatever your debt amounts to.
@IrisP9895 ай бұрын
You meant minus the debt that we have
@vlharmon5 ай бұрын
@@IrisP989 One million in assets. 50,000 in debts. You would need One million and fifty thousand to be a millionaire. I think we are saying the same thing.
@IrisP9895 ай бұрын
Got it. Correct.
@jillmorrison98835 ай бұрын
I have a 20yr old nephew who is positive he's going to be a millionaire by 22. He needs to watch your videos
@jorlyse12225 ай бұрын
Honestly I love the memes, you're hilarious!
@wdeemarwdeemar87395 ай бұрын
I did it at 46. Trucking along.
@grahamcarmichael65675 ай бұрын
I did it at 45. Beat ya
@johnny_c-l5 ай бұрын
I'd love to order a Lyft and have George pick me up!
@jacob-t-s5 ай бұрын
Only thing I find hard to agree with is the dual income stuff. A man should provide for his family and allow for his wife to stay at home so the kids don't have to be raised by some daycare workers just so you can invest more
@Cuirenteria5 ай бұрын
If I'm 65 and I want to retire, what should I do with the 1-2million dollars that I have saved? Leave it in the account and make monthly withdrawals or withdraw all the funds and buy properties and live of the rents?
@pholy985 ай бұрын
Hate to break it to you George, but I think South Park did Accountabilibuddies first 😂
@40yearprocess.617 күн бұрын
Trying to become a millionaire takes a long time when you’re following Dave’s 7 baby steps. 😅
@RosalieXimenesАй бұрын
My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.
@AnsjeHarrisАй бұрын
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire
@LouxCazareeАй бұрын
Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k.
@PaulStanisciaАй бұрын
Smart, If i wanted to do the same with my retirement funds too, how do i get started trading?
@LouxCazareeАй бұрын
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Marisa Michelle Litwinsky for the last five years or so, and her returns have been pretty much amazing.
@PaulStanisciaАй бұрын
This recommendation is coming at the right time because i am literally grasping for straws atm! I verified her online and scheduled a phone call with her.
@GSDRandom.5 ай бұрын
Watching George Kamel and there is a commercial for a casino app.😆
@kimnieroda23085 ай бұрын
Loved your book.
@teams33455 ай бұрын
I became a millionaire at 40. The next million becomes quicker and on and on and on.
@heatherbeth18185 ай бұрын
Don’t forget to like and share
@stevenewsome53065 ай бұрын
It was so good I hit like 2 times 😂
@dylanbly34685 ай бұрын
I wish that you would give specific dollar amounts on your situation for transparency
@tcgtpl5 ай бұрын
You can find his debt-free scream episode on the Ramsey channel. Someone in that video’s comments did the math & figured he & wife had an additional 6k a month to put into paying their house off early, so they had some serious margin. George has also said in previous videos on this channel that he & wife do make good money so that has really helped in their situation.
@charletfoster89175 ай бұрын
Great video!!!!!
@ThePjrm825 ай бұрын
Bro beame a millionaire buy buying a home near Nashville and hit the covid boom.
@dukeofrocjohnson33905 ай бұрын
Disagree. Your home does not count as an asset UNTIL you sell it. Up until that point it's a liability. Home owners are ALWAYS having to spend money to maintain the home. Therefore it is NOT an asset, and should not be counted in the "net" calculation. I know you will disagree, and that's fine. You will certainly reach ACTUAL millionaire status very soon, despite the fact you OWN that enormous liability called, a house.
@Ryan.zelenski5 ай бұрын
Make a video about how to deal with broke family members trying to get you to support their mlm "business"
@enigmathegrayman29535 ай бұрын
While I’ll likely never get to the million benchmark I think I’ll be just fine as a senior bachelor
@seanfalconer71824 ай бұрын
Some of us don't have 20 years to live, George.
@joeriveracomedy5 ай бұрын
If she wants to stay home? Oh, George. You are adorable.
@fsmoura5 ай бұрын
yeah yeah... that all sounds good on paper, but how do I keep up with the Joneses?? ( o.o)
@obliviouspirate3 ай бұрын
Why would you want to? They're broke!
@freddiearthur21515 ай бұрын
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
@larryhenry20705 ай бұрын
I'm 37 and have been looking for ways to be successful, please how??
@freddiearthur21515 ай бұрын
Sure, the investment-advisor that guides me is..
@freddiearthur21515 ай бұрын
Kathy lien
@jacksonlucas59335 ай бұрын
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
@ethanjesse86615 ай бұрын
😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
@Flownthecoup235 ай бұрын
Sadly, the ‘Smart Investors’ he talks about are very expensive, for me…anyway.
@CHSwildcats195 ай бұрын
"This is like data 'n' stuff" 😂
@stevensmiddlemass20725 ай бұрын
Personally, I think investors will start to seek more market diversification. can i confidently invest about $350k into the financial markets in 2024? I'm still not sure how rates will effect the market just yet, which worries me a lot.
@TalesOfTrillions5 ай бұрын
Dual incomes, no kids, and a dog - the ultimate recipe for financial success! 🐶💸
@pn46405 ай бұрын
Crazy crazy George 🎉😂
@debragiovine97975 ай бұрын
"" George"" it all COMES down in income.. if your average income in your life time is 50 to 60k.. don't expect to became a millionaire"" if its close to 6 figure plus '' yeah"" Vanguard'' does a study on this topic"" How america saves""
@mos59055 ай бұрын
Came for the financial advice. Stayed for the memes.
@btterthanhim5 ай бұрын
ASAP rocky
@HeatherAldrin5 ай бұрын
DINKWACS is another category. Where are all the DINKWACS at? (double income no kids with a cat(s))
@michelleadams56095 ай бұрын
Worldly living tips
@nickcoleman83095 ай бұрын
South Park beat you to Accountabillabuddies
@christianacuna17715 ай бұрын
George calling me out on how little time I have 😂
@Dbobber5 ай бұрын
He clearly didn’t know about crypto market. New investment market. Best way to multiple investments by 10x
@SalviAkshay5 ай бұрын
Kamel Kamel Kamel!!!
@UpYourArsenal5 ай бұрын
South Park definitely beat you to Accountabilibuddy!