Can I Become A Billionaire?

[@TheRamseyShow]

Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt

[@ryannemdjen]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[@CameronDonna-w7n]

The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.

[@Mlanderos-t9e]

The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 350%, since covid-outbreak to date, summing up nearly $1m.

[@Simeonedavis]

I find your situation fascinating. Would you be willing to offer a trusted advisor you've worked with?

[@Mlanderos-t9e]

Judith Lynn Staufer’, 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.

[@Simeonedavis]

I find this informative, curiously explored Judith on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated

[@BunkMasterFlex77]

Caller: how do I become a billionaire Dave: what's your income Caller: $15/hr Dave: good lord

[@lukecole6203]

Caller: I also have $153k of student loan debt for my history degree

[@MrBellyman128]

Good lord, sell the cat

[@lukecole6203]

@@MrBellyman128 Dave: How much is your car worth? Caller: ummm about 65000 but I owe 70000 on it Dave:............you know that was dumb right?

[@Anonyme67]

😂😂😂😂

[@TheAhmedvienna]

@@lukecole6203 not in history.. Left hand puppetry... 😂

[@greekmom]

My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. Living within your means and living a frugal lifestyle is the first step to financial independence. I just hit the one million mark last year, cheers to everyone striving to get there someday.

[@greekmom]

Varied sources of income is wise and especially living within your means. My net worth is over $1M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.

[@TylerofSc004]

This intrigues me. I've looked up financial advisors online, but finding one to connect with is a bit difficult. Do you mind if I ask for your recommendation?

[@TylerofSc004]

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

[@cmanon3948]

And yet you still don’t know how someone would make it to $1B

[@antmydude236]

I'm on course to hit half a million in 5 years. I should have a million before I'm 40.

[@Dylan-gr2vm]

Mark Cuban once said that to become a billionaire requires not only business skills, but it also takes an incredible element of luck. He said that he himself got lucky that he became a billionaire because he sold his company to Yahoo right before the big crash in 2000. He also said that he had no doubt that he would become a millionaire one day, but to become a billionaire he most likely wouldn't have made it had he not been in the right place at the right time. I think he nailed it spot on.

[@iamkyros2233]

I can imagine most billionaires saying it is luck, but in all honesty it's just the knowledge of doing things 'at the right time' , sometimes it comes subconsciously and we don't notice it. However, the harder you work, the luckier you get. Law of averages at its best.

[@fyemusicplug6486]

@@iamkyros2233 thank you, we create our own luck.

[@jaybah836]

You need a team to become a billionaire...

[@jer3887]

Certain amount of luck... but you still have to be in the position to sell your company to Yahoo. For most people, Yahooo don't wanna buy your company.

[@lolwtnick4362]

yeah and born with a silver spoon with a small loan of 100k or a million.

[@vinceballou77]

One thing I have noticed reading biographies of billionaires is that most of them have been focused on a vision for over 20 years. Example Phil Knight worked at PwC as an accountant and was in the Army reserves while founding Nike. (Referenced in his biography Shoe Dog). In Phil's biography, he also stated that founding Nike came at high price to his family. Everything comes at a cost.

[@philmarsh7723]

And luck.

[@Excalibur2]

What are the chances that this is all confirmation bias? I mean, how many Billionaires who inherited billions in stock are going to write a book about having it handed to them That is, the only books about billionaires will talk about vision because anything else is boring and aggravating.

[@logicsandtrolls3616]

The thing is once you become a billionaire there are a lot of fakery that gets added to your aura. Every company founder has a story that many a times is just plain bs.

[@logicsandtrolls3616]

@@Excalibur2 this is so true. Imagine middle eastern oil prince writing a book on how he became billionaire. It would be just two sentences. "I was born. I killed other brothers."

[@yogalyfe]

​@Excalibur2 it wouldnt take much looking to find out if someone was given their millions or if they earned

[@carscoffeeandmischief]

Caller: I just went through your financial peace university so I can get out of debt. now, how do I become a Billionaire? This guy was so pumped after the course, he was ready to skip thousener and millionaire status.

[@jesuslovesyou916]

Lol. This comment made my day, thanks!

[@carscoffeeandmischief]

@@jesuslovesyou916 🤙🤙

[@BagsNBaguettes_327]

Very difficult to be a billionaire. Business 101- you need to provide something in the marketplace that has a competitive advantage and everyone can access, especially the middle class.

[@alinatamashevich3354]

Sears, oh wait....Amazon!

[@TuBui2]

It's largely about scalability. Technology is one of the few sectors where you can scale up fast and for low(er) admin costs.

[@AJohnson0325]

@tu boi…especially software/computer programming. It’s really easy to scale. Kevin O’Leary, Bill Gates, the guy that started oracle, mark zuckergerg, the google guys and probably a lot more.

[@lolwtnick4362]

​@@AJohnson0325lol you mean Larry Ellison? who bought the island of Lanai and kicked out all of the natives for his friends?

[@Dangerclose1]

The real question is would you want to do what it takes to become a billionaire…I.e. working 100 hrs a week for 20-30 years with very little breaks.

[@intensifier2182]

Yes and allow everything in your life that can bring actual fulfillment to fall by the wayside.

[@BrezzyBoi33]

You just have to exploit low paid workers

[@droptozro]

Yeah exactly. I'm always reminded of the story of the fisherman and the businessman.

[@ZeikCallaway]

​@@BrezzyBoi33Gets it. Most billionaires didn't come by it ethically.

[@martylts]

Bill Gates has said in many interviews that he had no intention of becoming a billionaire. He liked software. It was almost a coincidence that it became so valuable.

[@markg999]

I'm going to guess most billionaires are just following passion and were very gifted individuals. Becoming a billionaire was the bonus to what they were doing.

[@ScottyKnows94]

yet he's a mouthpiece for certain political views destroying our country imo. if you're following Ramsey long enough you know what he really believes; and he's buying up ALL the farmland while continuing to espouse cancerous views destroying our culture.

[@tracygaluszynski1868]

Or steal someone else's idea like Gates and Zuckerberg.

[@WhatIsThis-zq4hk]

His well connected parents made microsoft successful

[@lolwtnick4362]

totally. and he visited Epstein island 27 times.

[@CycleCruza]

Your real wealth is your health. Many people are realizing that right now.

[@tconboy23]

Health is very important. I see it as having several key components: mental/spiritual health, physical health, and financial health. While I agree that the first two are more crucial, I view wealth as a measurement of financial health.

[@yaserchow]

If you want to become a billionaire, you need to solve a big problem.

[@hawkkent]

Or a small problem for a lot of people, many times

[@celdur4635]

@@hawkkent That's a big problem.

[@lombardo141]

Or steal lol

[@acquitz2208]

@@lombardo141 examples?

[@lolwtnick4362]

​@@acquitz2208easy. warren Buffett. go read how he stole golf equipment from his job and sold it.

[@senorhook2872]

Dave and caller: *having an intriguing conversation* Caller: did any of these billionaires use fi- Dave: *ends call*

[@sohd2283]

What was he gonna say?

[@umsamudz]

@@sohd2283 he was probably going to say "financing". Dave is not too keen for that.

[@sohd2283]

@@umsamudz ahhh gotcha thanks

[@matthewgardner2144]

Jordan: first rule of becoming a billionaire is to stop uptoning. Second is to provide something of value to society. Third is to leverage.

[@henryyaboy]

I think the idea that someone did nothing and became wealthy is based on the reality of generational wealth and how some people end up getting a financial head-start (and also a head-start typically in understanding financial basics like savings & investing) because of that. Generational wealth + skills + motivation does put people ahead.

[@josephburton3232]

Exactly! A lot of these people who are billionaires might not have inherited their money but they did come from pretty privileged backgrounds that afforded them opportunities that a lot of us don't have. Bill Gates is pretty open about his background and how his families wealth gave him opportunities that most people didn't have. He was also insanely brilliant from a young age.

[@thecurrentmoment]

Starting your working life off with nearly a million, or close to that, means a billion is much more reachable. Each generation can get onto the next step up using generational wealth IF they don't blow it and lose that wealth. Old rich E.g. Dave's kids are not starting off at the same place as he did, so if he gave them or their kids a million dollars, they could maybe become billionaires. Easier than it would have been for Dave to. But they still have to successfully build and manage their wealth

[@dr.bradshaw]

I am healthy, have a wonderful family and I am free every day. That’s a multi billionaire in my book.

[@jaygrenham]

Best post yet!!!! I agree.

[@time4advancement244]

You must be a Broke American with that statement. Get on the rice n beans, beans n rice...

[@jeanlenor1858]

That's broke people talk. You can't live in the richest country of the world and have a poor mindset. Having money doesn't mean youre not happy and have a wonderful family. Stop being lazy!

[@dr.bradshaw]

@@jeanlenor1858 😂😂

[@DagnirRen]

@@jeanlenor1858 you sound like a sociopath. The guys is just making a corny statement that has a but of truth, Money isn’t everything.

[@talyahr3302]

To become a billionaire you have to provide, what I call, an "inevitable need". There's very few opportunities for these because they only come up in the gaps of big society changes. For example, Elon Musk did this twice. People think of him as the Tesla guy, but forget he founded PayPal. It was inevitable that society would need a digital money transferring product with the creation of the internet. Then he did it again with the electric car which is an inevitable product. Jeff Bezos did the same thing. An online marketplace to purchase products digitally was always inevitable once the internet was created. No matter what timeline you go to, there's going to be a billionaire that made the car, electric car, railroads, online marketplace. It's not about being creative. In fact it's the opposite. It's about fulfilling a huge inevitable need. If you see an opportunity like that, go full force. Unfortunately you can't create those opportunities, they have to present themselves based largely on timing and the ability to act on that opportunity.

[@alinatamashevich3354]

Well said! Right place, right time.

[@jasonwill5949]

I disagree. It’s multiple factors and being creative can certainly be one of them. Also using leverage whether it’s debt, people or persuasion. Most billionaires have thought of something most people were not thinking at the time. So they did create their own opportunities.

[@alinatamashevich3354]

@@jasonwill5949 Did you ever notice that the whole idea is to get others to work and make the owner money? Never saw one mention of Wal-Mart here, biggest employer in the world. making billions off of low paid , part time workers. Feel free to cry to Alice.

[@alp.9672]

@@alinatamashevich3354 yea to be a billionaire you have to be a scumbag

[@DavidRamseyIII]

@@alinatamashevich3354 don’t have children

[@MartianAmbassador69]

To be a billionaire, you need to provide something extremely valuable. Like be a successful businessman, or athlete, or entrepreneur.

[@blackonblack...9244]

Yep, need to contribute something to society that is missing.

[@ne9835]

Pretty much.

[@AlexanderSagal]

Athlete billionaires are even a stretch. Modern day sports contracts may produce more (Patrick Mahomes comes to mind) billionaires in the future, but it won’t expand by the hundreds.

[@NWOALERT]

Even beyond that. Plenty of those people with net worths in the 100's of millions who don't reach a Billion.

[@1jw298]

You need to be part of the one world order top dogs.

[@jeremyclee]

100% of the Forbes 400 would have used debt to help them build their businesses

[@Robodude212]

they also often take debt through their company, not themselves, so the company could go bankrupt but they'd be fine (mostly)

[@imperialofficer6185]

I guess if you're already a millionaire etc., you might as well take on the risk. Worst case you lose everything and go back to being a millionaire

[@markmurrell1894]

" I have enough money to pay for a bridge to be removed so my yacht can get out to see" - Jeff Bezos

[@ethanwild3301]

'Sea' but he has enough to remove a bridge that's blocking his view too😂

[@alinatamashevich3354]

That is what they (those with money) do. Think about the people that are employed to pull that off. Problem is, most that complain only have signed the back of a paycheck, not the front. Let that sink in.

[@ryanl3812]

If you need to call Dave to ask how to become a billionaire, you probably need to adjust your goal.

[@imveryhungry112]

You have to be the founder of a successful business. Even people who work their way to become the CEO of a large company only make a few million a year. Thats not enough to become a billionaire.

[@philosophaster1]

Not always true. Tim Cook at Apple comes to mind.

[@imveryhungry112]

@@philosophaster1 lol your funny.

[@brotherantoinemoore7390]

Steve balmer climb his way up at Microsoft as CEO in the early 2000s and now he’s just as rich as Bill Gates a centi- billionaire

[@melanieb2132]

Errr.. people who become billionaires were NOT passionate about becoming billionaires.. they were passionate about their product. To this guy, NO, you will not be a billionaire.. unless inflation gets you there. 😂

[@uvwxyzero]

😂😂😂😂😂😂😂

[@yourgooglemeister6745]

Future billionaires sure AF dont call into a radio show!

[@auroramothergoddess]

Right 😂😂🤣🤣🤣 look at Elon that man made his companies his life he’s said himself no human should ever have to work that hard just to keep his companies alive

[@MrRadical87]

We certainly don't...

[@tracym8952]

That's like saying billionaires don't watch KZbin. Use anything that's free

[@JeanValjean875]

lol What? Like radio shows are inherently bad or something? 🤣

[@colmwhateveryoulike3240]

Why?

[@Bestjudy001]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.

[@caseycantrell-gh6fg]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@Bestjudy001]

@@caseycantrell-gh6fg However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@caseycantrell-gh6fg]

@@Bestjudy001 Oh please I’d love that. Thanks!.

[@Bestjudy001]

@@caseycantrell-gh6fg Suzanne Gladys Xander is her name .

[@Bestjudy001]

Lookup with her name on the webpage.

[@Ryan_DeWitt]

How about set yourself a goal to become a millionaire, then a multi-millionaire after that. Then possibly set a goal of being a billionaire. That's like saying my goal is to win the Tour de France before you win a single local city bike race.

[@ZRO777]

Great question and great insight. Thank you, Dave.

[@LuvmeRos]

I've only made roughly 8% total, or 2% annually, from investing my $150k salary over the past four years. i want to build a good investment portfolio and have been looking at videos and doing research to be more educated. Where should i invest this for stable cashflow?

[@CrystalJoy-32]

Invest in real estate, ETFs and high-yield savings account.

[@DennisJack-km8ho]

stocks are pretty volatile now, but if you do the right math you should be just fine, whereas you can save yourself the hassle by employing the service of a really successful advisor, one with experience since the '08 crash

[@RonaldPaul-rs6kt]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.

[@jose2212-]

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@RonaldPaul-rs6kt]

I've experimented with a few over the past years, but I've stuck with the popularly ‘’Amber Michelle Smith” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@MrNGTfan123]

I’m not saying it’s right or wrong but You would be hard pressed to find any billionaires who didn’t use some form of debt to grow their business. That’s reality, with that said you don’t need debt to become a millionaire and I think it’s a way more realistic goal than becoming a billionaire, for most people that’s a delusional goal.

[@stefancoban59]

The caller is nuts. There is no need to aspire becoming a billionaire. He should just enjoy life and be financial responsible.

[@startuptrevor]

Yeah I agree many of them probably did, but I bet there's also a decent amount who financed their businesses mainly through the sale of equity. Either way, it's probably extremely rare to see a self-made billionaire who didn't have to use some sort of outside funding.

[@alinatamashevich3354]

@@saulgoodman2018 And you would be wrong again Saul!

[@isaacdelaney4442]

@@stefancoban59 it’s nuts do aspire to be a billionaire? Your nuts! Don’t try to put down the ambitions of others because there larger than yours.

[@stefancoban59]

@@isaacdelaney4442 he has delusional written all over his head. Btw no billionaire would call Dave Ramsey for advice

[@joefunk76]

One man came to Mozart and asked him how to write a symphony. Mozart replied, “You are too young to write a symphony.” The man said, “You were writing symphonies when you were 10 years of age, and I am 21.” Mozart said, “Yes, but I didn’t run around asking people how to do it.”

[@joefunk76]

@@user-js5oo6nq2q !

[@doubleaz1234]

Anything is possible. I learned that the hard way.

[@MrNGTfan123]

Statistics say otherwise but sure being aspirational and believing anything is possible is better than not.

[@superblump87]

@@MrNGTfan123 statistics say many things are improbable, not impossible. Sit down small man.

[@miketheyunggod2534]

You couldn't be more wrong.

[@doubleaz1234]

@@miketheyunggod2534 what you mean? This universe is wild and unpredictable. What has been your experience?

[@richsamuel2922]

After all there are footprints on the moon...

[@adamseidel9780]

For some reason I’m skeptical this caller has a chance to become a billionaire.

[@matthewgardner2144]

Or even out of debt or his minimum wage existence. He's not a hard worker, he's a dreamer.

[@adamseidel9780]

@@matthewgardner2144 yeah, uh, that’s not what I meant at all.

[@matthewgardner2144]

@@adamseidel9780 yeah, um, ok.

[@marshall2.015]

If your goal is to become a billionaire, you won't make it. People that have the goal of providing a valuable product or service to hundreds of millions of people are the ones that become billionaires.

[@alinatamashevich3354]

The work on the front end is enormous.

[@intensifier2182]

And if you are on that purpose you don’t have the time or thought to ask “how to be a billionaire”.

[@leroygeorge352]

I disagree, there are a lot of investors that have become billionaires.

[@markg999]

Realistic answer is no. A future billionaire isnt calling in a radio show asking such questions...but are busy working nonstop on something that is revolutionary.

[@dannyhantx]

The caller had to have been a troll. Lol

[@kathryntubridypakenham2743]

A lot of billionaires were able to use connections and funds given by their parents. Just because they didn’t inherit hundreds of millions doesn’t mean they started from nothing

[@epicgaming4946]

You can definitely become a millionaire without using debt but I would guess becoming a billionaire without using debt is next to impossible.

[@Michael-vf2mw]

Yeah, I find Dave's claim that there is no connection between finance and billionaire status questionable.

[@Mathis218337]

You need to start a big company

[@rpracingproducts]

It depends on what you consider debt, if you raise money from investors, is that debt?

[@epicgaming4946]

@@rpracingproducts Are you obligated to pay back said investors? If there is a contract stating you have to pay back the investors I would say yes that's debt but if they are just giving you money hoping to get a ROI than no it's not debt.

[@bcyc2004]

No you don’t need debt to be a billionaire either. What you need is investment that’s different than debt.

[@BrandonMinguez]

Can you? Yes, but it takes years of passion to build something to get a business that strong.

[@TyinAlaska]

Millionares work an entire lifetime. Billionaires create a thousand lifetimes' worth of work for others.

[@alinatamashevich3354]

Well said Tylor!

[@mcleananderson4948]

Possible but unlikely, even billionaires rarely can replicate that success.

[@Rashaadthegr8]

So is being debt free only 20% of Americans are.

[@epicgaming4946]

Where did you get that idea? I think if the average billionaire could restart at 18 yrs old they would be able to get there much quicker with everything they've learned threw making there first mil

[@mcleananderson4948]

@@epicgaming4946 interviews, I've listened to Mark cuban, he said he wasn't sure he could replicate it without a ton of luck. The fact most don't replicate it either.

[@marky4573]

I'm a Zimbabwean Billionare.

[@josephsantangelo2801]

This is a ridiculous call. Become a millionaire or build an industry or create a need then call back bro.

[@Cosmo87-]

The way inflation is going, being a billionaire might not be so out of reach in the future

[@sammen89]

It’s not easy, but it’s simple. Persuade people to give you $1+ for a good/service (in profit, after all expenses)… a billion times.

[@senorhook2872]

You would need to sell one of those products every second for 31 and a half years.

[@superblump87]

That might be one of the least simplest ways to become a billionaire considering it has never been done.

[@sammen89]

@@superblump87 how do you categorize Amazon’s rise to compete with Wal-Mart. Making $1+ of profit a billion+ times…

[@superblump87]

@@sammen89 that is not how anyone would categorize Amazon's rise.

[@jrwntctv8091]

@@superblump87 Very difficult to conclusively say it's never been done, this would probably be the 'silent billionaire' type that nobody knows is a billionaire

[@gregoryyentz6241]

A 65 year old who maxed out their 401k since 1987, with catch-up contributions and 10% growth, would have an account value of $3,185,194.60

[@mikederucki]

I just read that Tom Brady is only a half a billionaire. While anything is possible, let’s keep our goals realistic

[@jimmay1988]

Michael Phelps became the 1st Athlete billionaire. All guys just settle for millionaire football/basketball players.

[@mikederucki]

@@jimmay1988 I tried to find any source supporting your claim that Phelps is a billionaire - couldn’t find anything saying more than $80m. Michael Jordan was a billionaire before Phelps went to his first Olympics, so you’re way off on Phelps being the first athlete.

[@jamesstrickland2781]

Dave Ramsey likes to say most millionaires are self-starters (i.e., did not inherit the wealth). It would be interesting to see what proportion of billionaires inherited wealth, and whether the percentage is higher. Prominent examples include the Walton family children and Saudi royals.

[@kbcinmedusn]

It seems like the only mathematical way to become a billionaire is by starting a business with a million dollar startup and lots of potential to grow. Start by doing the seven baby steps. Then start doing the giant steps you need to take to become a billionaire from there. You need to build a platform and then build a business and position your business platform as a monopoly so that you drastically increase your chances of earning your first billion.

[@themusic6808]

1. Start a tech company that has the ability to disrupt something and scale to huge revenues 2. Gets lots of private equity and venture capital funding 3. Retain a large minority ownership of the company in the 10-20% range 4. Take the company public in a IPO 5. If the stock market believes in you, and the value of your company 10 or 100X’s, well your net worth is in the billions Step one is where 99% of the population will never get through, because it’s less than 1% of the population who can found a & build a company like Microsoft, Apple, Tesla, Meta or Amazon lol

[@MrGreg-dw3lv]

This [guy] Mr. Ramsey is simply Amazing. The Wisdom and Boldness that Ozzes thru him is Awesome.

[@Doksimon]

Anybody watching this video, GOD bless your hustle 👍

[@RK831]

Nobody has ever become a billionaire through saving money.

[@jasmines.6325]

I think people have forgotten the proverb " have mercy on the poor" everything is being put behind a payroll that is getting higher and higher

[@DavidRoetman]

Dave is so humble. I can’t believe people haven’t figured out that he already is a billionaire (pretty sure). If you do the math, the business of Ramsey solutions is a 700 million dollar business… okay, and he also states that half of his investments are in mutual funds and half is in real estate. He also states that he has “several hundred million dollars in real estate” soooo if you do the math he has already been a billionaire. He is just wildly humble and doesn’t flaunt it. He also probably gives more generously than most billionaires. He doesn’t flaunt that either.

[@amireallythatgrumpy6508]

The real estate belongs to the business though so you've counted that twice. He's not a billionaire yet but will be in the next couple of years

[@DavidRoetman]

@@amireallythatgrumpy6508 no I didn’t. He has 700 million in real estate and the other half in mutual funds. Plus, he was just interviewed by Hormozi and he states that he’s a billionaire.

[@99CaNdYfLiP99]

"there is no indication debt.." 😂😂😂😂😂😂😂😂😂😂

[@lukesammann1959]

except for the fact that every single billionaire borrows money and uses debt

[@amireallythatgrumpy6508]

Dave himself will get there without using debt in a few years.

[@jackamelar1455]

Start with a Million

[@rathelmmc3194]

There’s no way for anyone to tell you how to be a billionaire. To be that financially successful you need to do the right thing at the right time, like Bill Gates with Microsoft. Then you need to work unreasonably hard and to have a bit of luck.

[@londoncandid5418]

Opm is definitely involved. I don't think leverage is the only way though. Setting up a business is pretty much the only way though.

[@jordangarrick669]

Best advice Mr. Ramsey could give on this subject: forget it

[@camillo6788]

It's easy to become a billionaire with hyperinflation ^^

[@kelvinpang438]

ya just go to venezuela

[@fhuber7507]

Possible? Yes Likely? No.

[@stephenmccoy8005]

I would have liked to of heard more on how Dave built such a large business without borrowing to do it.

[@edgaruriarte]

I believe he started working I real estate before he made his own business.

[@chriscrawl3732]

He's written many books

[@Wraithguard92]

"liked to of" Gross

[@lynnebucher6537]

I think Dave got there incrementally, and he created a product that appeals to a large swath of the population, and is affordable to most people. It was a volume thing. And he keeps adding more to his collection of products and services sold.

[@Tailong]

Most entrepenour billionaires, become billionaires as a byproduct of their success, but is never the goal, if you set out to make a million dollars you can achieve it in a lifetime(several times over in fact ) if you set out to become a billionaire the chances are pretty much zero

[@Tr1Hard777]

To become a billionaire, you either need to create a company or use debt as leverage.

[@littleripper312]

This caller will never become a billionaire, they need to just focus on becoming a millionaire. Billionaires dont plan to become billionaires, it's a consequence of them being great entrepreneurs and innovative. That level of entrepreneur is not something anyone can just choose to become. It's like the NBA of business, it's handwork but theres a genetic element to it also and if you aren't already doing entrepreneurial things you definitely don't have it.

[@TheFirstRealChewy]

Want to become a billionaire? Create a company that create a lot of value and scales very well.

[@Myview246]

So many people are so determined to become billionaires nowadays. Its like why, is a couple of million not good enough??

[@anthonyfonseca2417]

I could imagine after a certain point it becomes almost like a game. Like for instance Drake bet $600k on the Rams to win the super bowl. His life wouldn’t change a bit rather he won or lost the bet but he still bet. The higher the number becomes the higher you want it to get. This is just me taking a guess on the psychology of it. It’s the rush of accomplishing something and the feeling of winning.

[@Myview246]

@@anthonyfonseca2417 ah that makes sense

[@cnjro]

These are just numbers they don't matter. If you have 900 million you are not a billionaire though your quality of life is probably the same as. I read somewhere that after 50 million your quality of life does not really get much better above that.

[@righand]

What a weird question from a guy that just took financial peace. Let’s take baby steps. Almost like a question a 8 year old asked his mom.

[@cybertrk]

At that point you’re a caretaker of economic velocity.

[@jhoncena1111]

Becoming a billionaire requires recognizing an opportunity in the market. Now it doesn't necessarily mean you need a business, but majority of the time you will. Compound interest and time is another way of doing it. You need to be smart and fincially literate.

[@texasboy5117]

You have to almost always start a great business which grows fast. Then take it public and enjoy the stock appreciation.

[@tidus9942]

using compound interest becoming a billionaire is possible for me if I live to 110. Million is simply just not enough and I dont know why we act like it still is today. Thats small thinking. also roth IRAs do not have minimum distributions yet so it is possible to do it in retirement accounts.

[@HanaKotaro-df7ng]

To earn a billion dollars you need to make 20 million a year for 50 years, Which equates to $54,800 a day, $2,283 an hour, $38 a minute, or 64 cents a second. Consecutively for 50 years. Now, add 50-60% tax if it’s personal income and make that 75-80 years

[@waitstill7091]

"We hold these truths to be self-evident, that all men are created equal, that they are endowed, by their Creator, with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness." Thomas Jefferson

[@alan55super]

To become a billionaire you have to provide the world such good value. I feel like people underestimate how much is a Billion dollars. I would be fine retiring with a 20 million dollar portfolio

[@fifthwardliquor9170]

We have no debt other than our house. No car payments. But we do have two kids in college which is making it difficult to Save. Any suggestion how to get through this without pilling on debt?

[@SkeenCharles]

Easy tiger... Take baby steps at a time 😀

[@michaelorrico4859]

There is not one billionaire in the USA that does not leverage debt.

[@karimbennett5651]

Why do broke-as-a-joke people waste time sitting around asking these stupid pie-in-the-sky questions. Yes, you could be a billionaire, but it is about as likely as winning the mega-millions. Go back to work!

[@MegatPage]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $30k of my savings in stocks this year, and I hope I make profits.

[@StacieBMui]

You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

[@cowell621]

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.

[@LiaStrings]

I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.

[@cowell621]

Sharon Lee Peoples has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

[@zschlecht08]

Billionaires - "I've 'studied' them" lol

[@AmZayDie]

The risk of not taking risk is so huge it costs you billions

[@ronnietruman7296]

The concept of billionaires would be very different if people truly understood that most of these people are not actually worth this amount/it isn’t liquid. Some of these companies have so little float because insiders and funds hold a large majority of the shares so the market value is inherently inflated.

[@The.Hambone.4]

Anyone can be a millionaire. Becoming a billionaire, however, requires a lot of luck.

[@djpickleballplayer]

What was the answer?

[@Alejo_Magnu]

if i csni can't aford a 401k account as a foreign can I become a millionaire even if I pay the tx from my investing or is difficult

[@joekuhn886]

…

[@samuelharding257]

All of the billionaires got really lucky… that’s not to say they didn’t have a vision and work tirelessly but to come up with a completely new idea is insanely difficult. A lot of them have basically built a market or product the world utilizes, not just local or national. Rockefeller was one of the pioneers of oil and gas for example. Sure, not the first to do it but he was there in the start and when the oil market was in the womb. Amazon, was breaking into the online space when online stores weren’t a thing. Even something like dominos started after WW2 when America was rebuilding… a lot of these gigantic businesses have basically created our world we live in, so now we live in this world trying to come up with new spaces and the tunnel is certainly shrinking. I don’t care to really be a billionaire… certainly would be cool, but I’m focused on just getting into the first couple millions and going from there there

[@mattdoeland]

I love Dave & his mindset is focused on the 9-5mindset that will create a millionaire. A billionaire mindset is in a completely different stratosphere & both of these guys don’t quite get it. Love them though.

[@benjaminsmith3469]

I've got £100k to invest. I want to build a nest egg for when I'm older. I want to know if it's a good idea to add all my savings into a long term ETF, set and forget Come back in 20-30 years, instead of 250-300 DCA every month. Which ETF would you recommend?

[@alicegomez7232]

As they say, time IN the market is better than trying to time the market. I think you should seek advice from a licensed financial advisor..

[@stevensmiddlemass2072]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 275 cash earning 5.25 interest, 685k in 401k, 120k cash account, 80k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed within a short period.

[@ConradGosling]

How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.

[@stevensmiddlemass2072]

Monica Shawn Marti has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

[@Emily-le2op]

Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks

[@volvotoyota4850]

Howard schultz grew up down the road from me in Brooklyn NY. He moved to Seattle and met a lot of influential people like the father of Bill Gates. Howard learned about coffee, and developed a passion for it. Mr. Gates got Howard investors to open shops. Up till recently Howard had over 30,000 locations world wide. He closed some locations. If Howard doesn't move to Seattle he would not likeky have met the people who would take an interest in his idea. There's no way to plan everything in life. Billions of people in the world. Its not possible for everyone to be as lucky. Even Warren Buffett had said to a certain extent its what people are born into. Howard didnt have money as a child. However he had unusual luck. The same goes for Oprah. Warren Buffett most likely had something more than most when he was in college. He probably won't admit it. How many 20 something dads can be home all day placing trades, and expect to always come out ahead

[@douglassmith9445]

The real answer to this caller should’ve been “what’s your net-worth right now and do you understand the ramsey principles?”. There isn’t a formula for becoming a billionaire because only a small group of people can do it. If everyone could become one, we would have insane inflation and the dollar would have no value. Thinking realistically would discard this question all together and have the caller really hone in on adult financial principles and kill it in a more realistic manner that will save his future family heirloom.

[@j.c.4192]

Chick fila where teenagers work there wear belts 😂

[@dontreadthisnameoutloud1419]

Dave "Apple is not contributed to a single person." Neither is Microsoft!

[@EverythingGaming653]

Idea to become a billionaire: start an website or app where people can order groceries and get them delivered to there house.

[@pixelander]

Isn’t that already a thing?

[@inmate0054]

You don’t borrow. You create partnerships

[@tragicmat1]

It's not that billionaires are all people (or mostly people) that created something. More like those are the billionaires that are out in open light because of their business. Old money stays hidden from sight.

[@stevenlee5146]

I giggle looking at some of these comments as if you know how to become a billionaire. Caller is stupid for calling in such a radio show when the host isn’t a billionaire himself. Best thing he can do Is read books written by billionaires and adapt their mindset. I am more than satisfied being a millionaire. Billionaire is not achievable.

[@lotsaspaghetticodejr.6488]

There are really only 4 main ways to become a billionaire. Invent a brand new service that radically shapes the landscape around it, although you must build and cultivate this over an entire lifetime Become an investor, learn the market and build hundreds of companies up such that your total net worth is a billion dollars in assets Be born into it, such as all of the oil tycoons in the UAE (United Arab Emirates) or such as Prince Henry Or you marry into and divorce, such as Jeff Bezo's ex wife