Millionaires Share Their Financial Successes And Fears | Ep. 6 | The Best of The Ramsey Show

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What Should I Do with This $200,000 to Become a Millionaire Soon? 0:22 These Millionaire Stats Make People SO ANGRY! - Dave Ramsey Rant  9:13 I Have $2,000,000 In Cash and Afraid to Invest! 20:05 I'm A Millionaire And Nervous About The Great Reset! 27:38 I Don't Want My Kids To Know We're Millionaires 30:08 I'm 33 and Worth $2,000,000! What's Next? 34:40

[@reggie5395]

P

[@NZAgriculture]

They work systems! Love it.

[@kevinivanlugo-nunez3465]

R de re4444

[@nicholasmasi2558]

I’m a teacher who is a millionaire. Follow the process, have a budget, be intentional & life can be amazing

[@carojames6776]

Congratulations on your good fortune, it's nice to hear from people who've made it.

[@timsans1170]

@caro james It's NOT "Good Fortune" it's a goal that was accomplished through Sacrifice, Determination and a Plan!

[@reesercliff]

What does your husband do?

[@momnursefashionista7506]

❤❤👏🏾👏🏾

[@phoenixdna7133]

@@timsans1170 I agree with you but we are still fortunate not to live in a third world country.

[@Valir15]

I’m a 30-year old preschool teacher. Bought my house at 19 and started saving and investing ever since. Paid off my $150k mortgage, traveled to several countries, and I have over $30k in savings and zero debt.

[@ernestinaopoku1193]

Way to go! Impressive

[@marybowers6090]

Bet u don’t have any children either

[@Vexed711]

How did you buy house at 19?

[@saradaniela8713]

how’d you buy the house? i’m almost 19 too

[@lionmangolf]

My son bought a 150k house at 19. He's 21 today. He had a job making 40k a year. His mortgage is less than rent. He'll have it paid off by the time he's 30.

[@Aziz__0]

50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[@corrySledd]

@@sherryie2 I agree, that's the more reason I prefer my day to day invt decisions being guided by a init-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a init-coach for over 2years+ and I've netted over 2.8million.

[@McElvinn]

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

[@corrySledd]

@@McElvinn The thing is that I really don't like making such recommendations. But there are many freelance wealth managers you could check out. I have been working with "NICOLE DESIREE SIMON " for about four years now, and she's made decent returns. If she meets your discretion, then you could go ahead.

[@McElvinn]

@@corrySledd I looked up your advisor's full name and she appears to be trustworthy and knowledgeable. She is a fiduciary who acts in any individual's best interests. So I left a message on her website, and I'm hoping she responds soon.

[@Ed_Sheeranchannel]

Invest too 😊

[@Josh_Morales]

I love how most millionaires Dave has studied are just regular people which means that both you and I can do it too!!!

[@oscarpaez9036]

It is definitely possible but I believe it’s going to be harder for this generation. Inflation is really bad.

[@alqoshgirl]

@@oscarpaez9036 salaries are adjusted though for the inflation at most places. If they are not you can easily find a new job. It’s still very much possible!

[@Ed_Sheeranchannel]

Yes ..keep it up 😊

[@matthill2957]

@@alqoshgirlthey do not do enough compared to what we are being charged

[@RR09876]

It’s not what you MAKE, it’s what you KEEP.

[@Gregarious3]

I was a low wage employee, always put 15% in my 401k in the most aggressive funds. Now many years later $6m gross.

[@michaelnaydasibbel5414]

My wife and I are Millionaires. My last car was purchased for $10,000 and I drove it for 20 years. Then I purchased a good used $2500 vehicle. We will drive that for a few more years. Could I afford a more expensive one? Absolutely. Do I need a more expensive one, Nope…. Having your wants and your needs in check is what is important.

[@catherinee.millard1831]

Very refreshing attitude. Love your comment!

[@orangesun3030]

I’m a self employed roofer and I cracked the million dollar barrier.

[@GaPeach2018]

I’m a retired teacher and a multimillionaire. Loved my work! Follow Warren Buffet and Dave Ramsey. Both of our daughters have gone through FPU and are on their way.

[@ScubaCody]

How awesome is that! too many times I hear the teacher salary is way too low and not enough to live on. but clearly there’s a % of teachers out there who are EDMs.

[@Ed_Sheeranchannel]

That’s good ❤

[@wherenexttravel]

We were fortunate enough to retire early. My wife was 34 and I was 38. We followed many of the Dave Ramsey principles which helped us stay focused on our goals. We now travel and enjoy time with our two young kids. 💕

[@mervindervish284]

How much did you get from your family? Inheritance maybe?

[@Rashaadthegr8]

17 million millionaires in America. There's no reason why you can't be one.

[@kw3113]

Agree!! The only reason is due to lack of personal discipline.

[@corneliusjones7349]

I am going to be a millionaire and I grew up living in a car and started out my adult life living in one. I put myself through college while working a full time minimum wage job and supporting a family of 4. I built a career from absolutely nothing. I started investing my money and lived off of nothing. Then I bought real estate. I have always stayed as close to debt free as possible and am debt free now. If I can drag myself out of the dirt from the absolute worst circumstances being as dumb as I am I believe anyone in this country can do exactly the same thing.

[@Rashaadthegr8]

@@corneliusjones7349 yessir

[@onyx9857]

There are 17 million homeless people in America. No reason why you cant be homeless. Put in the work!

[@moose11vt]

@@corneliusjones7349 You're going to make it.

[@Dailyfiver]

That lady that said they didn’t invest because of “two crashes” had me so sad. THATS EXACTLY WHEN YOU WANNNA INVEST! Lol. Buy low.

[@mouwlylee5014]

I came from my country 1995 I worked Production job and my husband a Machine operator and we are a millionaire now . I have two home paid off

[@melissamyers1135]

You are my inspiration!

[@republicunited2183]

God Bless America & it’s opportunity.

[@GoatMeal365]

I work at very big and prominent bank in Nyc specifically with clients of high net worth. And I totally agree. I observed that the working-class clients with the largest balances (6 & 7 figures) tend to be very routine, plane-jane disciplined savers, and consistent workers. They spend less than they make and are not easily given over to sales offers/upgrades. Most of them are not even “sophisticated investors”. One of my clients is a doorman for a luxury building, whose had his job for about 30 years. He’s about to retire and has even had a flip phone up until recently and His retirement assets are about $1.2MM. He’s definitely not into exotic savvy wealth building tactics, and is not in a 6 figure job. It’s really about discipline and consistency

[@MAMP]

Thank you for sharing

[@GoatMeal365]

@@MAMP You’re welcome 👍

[@bettymisoi6806]

Thank you for sharing

[@matthill2957]

So sad they dont teach these things in school

[@ginae.7422]

Amazing!!

[@katherinehilloppel2756]

My husband and I changed our lifestyle after having a huge job change. We make about 60% less in income...and are able to save MORE now. We r not millionaires but at this rate we have a shot at making it at retirement.

[@tomaszwyszkowski2253]

This is what happend to us as well.

[@Ed_Sheeranchannel]

Very good ideas 😊

[@terramoses2929]

My grandparents worked in educations for over seventy years combined. They were multimillionaires.

[@Ed_Sheeranchannel]

Good for you ❤

[@JTMoney333]

This is my 1st time posting. I just went through the baby steps with my wife and already got excuses. Im 47 and upset with the dumbass choices I've made in the past. I took the time and created a spreadsheet and found that in less than 4 yrs we could be debt free, and in 7, we have our home paid off with the snowball effect. This was my Ah Ha moment. Do the work and draw up YOUR plan and see what is achievable.

[@Ed_Sheeranchannel]

Work hard and invest too 😊

[@susanjean3114]

Ken hit the nail on the head. It has nothting to do with salary or career choice. It about how you live your life. Live debt free and under your means and you will get there. You will have sense a freedom like. never before.

[@Ed_Sheeranchannel]

Good 😊

[@tessa1158]

My coworker invested 75K in mutual fund back in 2002. It is now worth around 1 million.

[@Rashaadthegr8]

The reason why it's hard to believe is because they don't know anyone who has done it personally. And if they did they will make up excuses on why it can't happen for them.

[@chanson8508]

THIS 💯

[@nicholasmartinez6043]

Dave yelling at Ken for not knowing median vs average lol

[@AnthonyD1986]

I have to 110% agree with some people being dumb as a rock. Just on my commute to home and work everyday my mind is blown at how stupid people are. I sometimes ask myself if I’m a genius and don’t know it or something. Everyday my mind is blown at the stupidity of people around me.

[@daniellelemay2696]

Common sense is not common.

[@steveguti6452]

For God so loved the world that he gave his only begotten son that whosoever believeth In him shall not perish but have everlasting life praise God praying for everyone everyday God bless you all

[@jennabaily2282]

Love the lord ❤️ but y the Lord’s Prayer in a comment section?

[@jsar5409]

Sir, this is Wendy's.

[@ArtBellJr]

@@jennabaily2282 John 3:16 is not the Lord's prayer ,but I think they put it there so someone would read it and it would bless their day to hear that message.

[@pauljensen4773]

Capitalize His pronouns.

[@pauljensen4773]

How did you post this 10 days before the video was posted?

[@Mrs.LadeyBug]

My son is a national record breaker in a couple fitness categories. It is not his career and didn’t make him money… it is a hobby that he loves to do. I think it would be pretty hard to make a great living out of it unless you become a trainer for elite athletes or are an excellent business person who sells products.

[@trex7359]

The problem is most people follow trends and lifestyle creep most are not content with what they have and try to keep up with people who have the appearance of wealth. Trying to keep up the appearance takes maintenance and maintenance will keep you broke and miserable.

[@michaelwoods4495]

We became millionaires after we got the kids off the payroll. Take that for whatever it's worth to you.

[@karenjensen2345]

Same

[@freedomring3022]

us too

[@TheGoat-qw6jb]

Lol that’s why I’m thinking of not even having kids 😂 when me and my wife can just travel the world and have no responsibilities

[@eane7238]

​@@TheGoat-qw6jb that would be terribly selfish.

[@marybowers6090]

I agree there is no way you could raise children on 60k a year gross and sock away 750 for 35 years, totally unrealistic now if ur single for 35 years or coupled up with no kids, yes that’s realistic

[@momnursefashionista7506]

Oh how I love you Dave! You’re so real and transparent! ❤

[@Ed_Sheeranchannel]

Thanks ❤

[@AurelioPita]

Please, more millionaire related videos.

[@foodlover8078]

I’m surprised to hear teacher is one of the top millionaires

[@chriswuzhere91]

I needed to hear daddy Ramsey, been getting friends and family inviting my wife and i festivals (i used to be addicted). I put my foot down and said no. We just got a home and need to make sure we are financially safe before we can go live lavishly again.

[@Ed_Sheeranchannel]

That’s good ❤

[@jaredstrandBazooka]

16:12 That is a very accurate and profound statement, more people need to hear that.

[@ezequielu9061]

Fantastic video. The teacher's section was such a moving lesson and a motivation too. I'm one of the many international followers whose main lenguaje is not english.... Great stuff!!!

[@Ed_Sheeranchannel]

Thanks ❤

[@HerAeolianHarp]

The Millionaire Next Door also found a lot of wealth when a teacher was one of the earners.

[@homeboy391]

Love Rachel's reaction when Dave said "car costs $300K!" lol

[@paulconrad3830]

Helpful, hopeful, and promote healing....right after I finish calling anyone who disagrees with us mouth breathers

[@Tripp2Deuce]

I love your show, Dave.

[@Ed_Sheeranchannel]

I love you too ❤

[@jeffreycastillo32]

I am a practicing structural engineer, and I wish a lot of people would listen to 15:40 when I size up certain items, haha!! Thank's Dave!!!!

[@Ed_Sheeranchannel]

Thanks ❤

[@user-oq4ow9rr6z]

Listening to the 29 year old gut who inherited 200,000 from dads estate and wanted to compete abd help people work out...I had to turn it off. Dude will be lucky to have anything left in a year!

[@mervindervish284]

He was 25. And that is some sweet, sweet aristocratic luck he fell into. Good grief. I had to make my own money...

[@murpheus1107]

If I was inheriting 200k (even at age 49) I’d live as before, ensure BS3 was taken care if (20k) then invest the rest for 15-20yrs

[@donnaallgaier-lamberti3933]

Buy a house - a place to live AND a good investment.

[@mba2ceo]

That is the BEST he can do !!!

[@palazzolo85]

Ramsey is the best!!! God bless you!

[@jasonpastuch1502]

Here's a question I've always wondered. How does America compare with the rest of the world/countries as far as being a millionaire?

[@marcoarmijos8200]

Thank you so much!

[@Ben-gx4eb]

“Stupid! . . . Was that unclear?” That got a good chuckle out of me😄

[@katrynlord6516]

FYI... I know where I live they averaged the administrators in with the teacher salary when they do surveys. So it would be interesting to know if that extraneous variable was part of the median number in the data. Just a thought thanks for all your videos I enjoy them and I'm taking your FPUcourse

[@alexr3950]

Lol at ken talking about median and the saying its the average

[@moose11vt]

That made me cringe when he said that lol.

[@1301407gl]

Well median is probably a better indicator of what the average American is like became you don't have people with no income or those with 7f figure income influencing although it is incorrect to call it average

[@steveguti6452]

Jesus Christ died for our sins according to the scriptures and that he was buried and that he rose again the third day praying for everyone everyday God bless you all

[@MrJearley6]

Thank you for this video. I like the first collar on this video because what he did is he asked question first and not ask questions after. He received are you getting ready to receive $200,000 and he asked Dave Ramsey first what should he do with the money and not ask after the money is gone and asked what he should have done with the moneyso thank you for this video

[@OveranalyzingEverything]

A doctor usually has 200k+ in debt when they graduate. An engineer usually doesn't. So even with a lower salary, makes sense a good paying engineering position is better

[@olivewoo522]

I've paused social media for 30 days. I do not miss the influencers, the reels, the challenges, the do good money givers, and most off all: let's pay it forward videos. God says don't pray mumbling. Do your good deeds in silence.

[@steveguti6452]

AND LET ALL THE ANGELS OF GOD WORSHIP HIM praise God praying for everyone everyday God bless you all

[@racheln4309]

“Oh yeah a lot of mouth breathers” 😂

[@lucascofell4680]

My primary problem with Daves study is that it’s a biased sample that they took from their customer base, so of course it will show a strong lean toward their methodologies. That’s not to say the studies aren’t directionally true. I’m not arguing against what he teaches. I’m just saying there definitely are other ways that are better for different populations. His type of advice is very broadly applicable though, and that’s supremely important. Just a quick example - I’m confident doctors become millionaires more frequently than teachers by x years out of their given program. But I’m also confident that doctors listen to dave less frequently because his target audience is more geared toward an “everyday” class of people.

[@tastytipstricks1023]

I appreciate all of the wisdom you have imparted. Like you I am not politically correct so I appreciate the straight shooter attitude and sense of logic. You guys have a genuine ministry and provide a genuine service and your audience is so very lucky to have this resource. I just wish with all my heart the mouth breather comment didn't have to happen so many times. Everything you said was so good and encouraging and helpful, but I cringed every time I heard the words "mouth breather". There is so much to glean from what you say and I feel like once "mouth breather" is said, your audience is taken on a mental journey that muddles your objective. Again I loved absolutely everything else about your channel and I will be back for more, but in case you care I wanted to point out that people are mouth breathers because of a physical deformity or sinus issue and maybe have a firm grip on the fundamentals of living a clean abundant debt-free life.

[@Ed_Sheeranchannel]

Thanks ..I appreciate 😊

[@IrishMexican]

14:40 “median is the law of averages, just run your averages..”. I hope he wasn’t a researcher in the study 🤦🏻‍♂️

[@goat9199]

Thanks for humbling him about saying median wrong, Dave.

[@gavanlee]

COFFEE!!! @39:38 😅

[@zyph.]

Would love to hear Ken explain what the median is, because it did sound he had it confused with the average.

[@Ed_Sheeranchannel]

Okay 👍 ❤

[@catherinee.millard1831]

I'm not sure he knows what it means! It sure didn't sound like it! But maybe he just didn't take time to explain the difference between mean and median. It might have helped some people if he had explained it, though. 😄

[@samsungs2051]

wats the name of the coffee ramsey buys, i need to invest in that

[@mervindervish284]

I had the benefit of knowing very early that I would not get squat from my boomer parents. I have not been perfect with money, but I have no debt and am well on my way to being a millionaire by retirement. Still when rich people flex I always wonder if they got a helping hand from being born into money. I find that most who flex actually had tremendous advantages coming from well to do/aristocratic families.

[@jeffreywhitaker5154]

Hes going to lose that money. He is so infatuated with making money that he will make poor decisions-and lose the money. If I were him I would take half and invest into growth stock mutual funds, and take the other half and put down on a cheap modest house.

[@IrishMexican]

31:30 lmao this lady had me rolling

[@DonaldRedeemed]

I know our area has aclot of anonimlies, but here teachers make almost 33% more than the county average. But i could probably right a book on our county's anonimlies. That said teachers have a phenomenal required retirement plan that really helps them become millionaires.

[@Tripp2Deuce]

I am a financial consultant in Canada. Just getting going on my career in the financial industry at age 37. It feels late. Would have been nice to get going on it in my early to mid twenties. I played sports growing up, so I pretend that I just finished my pro baseball career and lost everything - went broke after career, and am now beginning a post-baseball career. Lol Here in Canada, we have a great product called segregated funds. We have mutual funds as well.

[@carojames6776]

It's NEVER too late just make the most of your opportunities coming your way. Good luck.

[@Ed_Sheeranchannel]

I’m happy for you.. that you started financial consultants. It doesn’t matter when you started it .. big love ❤️

[@genzlegacy7988]

Haha thats a great perspective to have, i play mind games with myself like that all the time

[@Tripp2Deuce]

I am really surprised financial advisors/consultants/insurance agents are not on that list. Or are they, and I just missed that?

[@sizweshongwe331]

They're struggling with money as well

[@robertmarshall5982]

That woman who’s saying mmmmm won’t tell anyone 😂

[@monicawright042371]

That lady that saved 2 million is like the lady with a museum-quality immaculate house apologizing profusely for how filthy it is. lol

[@akashamanthe]

35:26: Rachels arms are like that sounds cute 2.0 Million

[@jamesdean5631]

I am a teacher that teaches personal finance and the first lesson I show kids for the course is looking at an investment calculator. I always ask the students that have a job can you save $50 a month? Could you save $100? Then I have them guess how much money it is. From 16 to 65, $100 a month is 1.5 million. Then I say what if you wait until 67 or 70? Would this change your family tree?!

[@longisland_stacker631]

Im 27, I have a retirement acc with job, a deferred comp, roth IRA and regular IRA. Do i need to ask my financial advisor to specifically invest in mutual funds or do you think hes already been doing that?

[@t.g.c9311]

listen dave your smart and Your advice works well for people who are just starting off and young. And and reasonable. but I think the real lesson is that nobody cares to have 16 million dollars. They didn't touch when they're seventy one

[@corneliusjones7349]

Has millionaire hour stopped or do I just not know where to see them?

[@genzlegacy7988]

Listening to this at 23 with $92k invested after saving my whole life hoping that by the time im 50 the dollar will still be worth something😂

[@b.cdrisk2035]

The more you make the more you can invest

[@andrearae264]

Dave copied The Millionare Nextdoor book... but thats OK, he's getting the word out that freedom is possible and i appreciate it.

[@jacoblyons3167]

I’m a teacher who WILL be a millionaire! I make more money bartending though!

[@miketwomey8133]

The woman complaining with $2m cash is the most annoying thing I’ve ever listen too.

[@themixchannel1816]

I love the Idea how Ramsey thinks people will live forever 😅

[@0_1_2]

Sorry but you’ve gotta be incredibly lucky to get 10% year over year for 35 years

[@MrJumpingmaniac]

Luck isn't necessary. You just need consistency and a simple S&p Index fund.

[@jebby6922]

1987-2022 the SP500 increased by 10% on average. No luck needed.

[@BrianaBudgets]

I wish I had Amy’s problem. Too much money you don’t know what to do with it.

[@princessunknown3158]

Market crashes don't sell, if house value goes down would you sell it? Absolutely No! This for beginners investing. No fear. Think long term. Automate it. And forget it even invested it . Growth stock best advice. Lesson taken Ramsey. From uk. S&P500 growth stock etf.

[@missgui4400]

We will be a millionaire in 10 years! 🙏🏻

[@DanM-mi8oo]

Would Dave support a low cost diversified ETF rather than expensive actively managed mutual funds where the vast majority of active fund managers underperform their benchmark indices?

[@t.g.c9311]

By your own admission, you own assets in mutual funds and real estate. Which go up in value because the dollar is losing value. That is not a misplaced fear. it's a reality that nobody cares to think about and consequently, although you mean well your advice inadvertently leads to asset bubbles in real estate and stocks. indiscriminately, throwing money at things that allegedly go up in value is what causes the prices to rise.

[@jeremye7262]

I got a Wells Fargo advertisement at the end of this video…

[@aminpersian5371]

Real estate cash flow

[@Demonizar]

No disrespect, the first caller sounds like Disney character Pluto

[@jcman240]

Dave and his 10% returns, lol

[@t.g.c9311]

The point of investing in saving is to use the money. It's important to be frugal but it's important to live. There's not much life at seventy 14 you to care about Sixteen million dollars.

[@gkennedy2998]

Dave, I respect you but I have to disagree with your statements. You can't have a good marriage if your spouse won't cooperate. You can't have a good job if your coworkers don't do their jobs. One person can't control others; all one person can do is get out of their way.

[@digdougx]

As a teacher with a deviated septum, I resent the mouth breather terminology. Lol Also my wife and I are both teacher in our early 30s, made $180k combined this year, and have a half million net worth.

[@mattben]

If I am in a poker game I want to be in it with players not as good as me, the game of life is the same :) as its so much easier to win

[@TheTread123]

Wonder what type of millionaires they will interview those who started business or who developed something that was a utility patent. Those who just manage paper assets compared to buying RE and used creativity on what to do with it plus continuing education from others and with others as a team. Those business owners will have to be looked at as self employed and business as a team sport in strategy and/or alliances.

[@TheTread123]

Even if you have millions in cash and go away for a few months and your business is in the toilet you don’t have a real business in the B quadrant eventually you want to get over to also have your assets in the I investor quadrant also.

[@brianmcg321]

They interview these kinds of people all the time.

[@alisongoldsberry8062]

She may have had six and lost most of it as in 401k. They're doing great. Invest some, but keep running well? No debt I assume. Fantastic.

[@IrishMexican]

15:40 exactly. You don’t get to make up your own version. So stop spitting out 10% to 11% growth rate. Used inflation adjusted please.

[@captainkrunch6372]

How much towards a millionaire can you count a pension?

[@Tripp2Deuce]

Do you have any annuities, Dave? Btw, we have some real nut-jobs on both sides of the aisle here in Canada too! 🤣

[@liberator9248]

wait a minute you meant there is a failure Too. 🤔 interesting.

[@methemonkeyking]

Question: All my bills are paid, except for my mortgage and HELOC. Is my HELOC part of baby steps two?

[@ASimoneau]

Yes.

[@sloth9669]

It depends on how much it is compared to your income.

[@arelivalencia4586]

Yes, you borrowed against your home.

[@GaPeach2018]

YES YES YES

[@luckysevens.AltRock8]

Up here in Canada BMO is using your Baby Steps term in TV commercials.