What Is The Most Important Part Of Investing Successfully?

[@Lilbit2215]

I love when Dave is by himself. Its like he's really speaking to you.

[@tonymeza024]

I agree! He’s the best! I would love for a one on one with him :)

[@Helibeaver]

Totally agree.

[@dogan6070]

Well said

[@johncoll4456]

Totally agree!

[@Garebare1]

The whole point of the guests is to train us to get used to them for when Dave is no longer with us, the business will continue

[@AnnaOllsson]

I admire your dedication to educating your audience. We all aim for financial stability and a better life. Achieving this is possible through wise investments, frugal living, and careful budgeting. I'm grateful that I learned the importance of working hard for financial freedom at a young age.

[@bartlyAD]

Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.

[@PennyBergeron-os4ch]

that's the more reason I prefer my day to day investment decisions being guided by an asset manager 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 outperform, been using my manager for over 2 years.

[@FinnBraylon]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@PennyBergeron-os4ch]

The asset manager that guides me is DIANA CASTEEL LYNCH. most likely the internet is where to find her basic info, just search her name. She's established.

[@FinnBraylon]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@drummer703]

The key to investing: actually doing it

[@rolandofrancis5254]

Rightttttt

[@jb111082]

Shout it from the rooftops my friend!!

[@Markjacobs4477]

Staying out of mutual funds

[@DannyBrooks1]

Doing it early is the key.

[@gaelreyes3346]

Stock market

[@pramitd7761]

Dude that was not a speech that was just fully packed 7 minutes of pure raw flawless flow of wisdom coming out him. I am already feeling wise after listening this 😆

[@SergiuM42]

“It doesn’t cost anything extra to play the game right, in fact it costs considerably less.” Love that.

[@Frankloredo-z9p]

I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@Mongarnsamuel]

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@Beckylouis-c4c]

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

[@Mongarnsamuel]

NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@Beckylouis-c4c]

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

[@MillionaireMindsetClub]

Consistency is the key. Invest early and often!

[@damondiehl5637]

Make it happen automatically. Get it our of your paycheck before you even see it.

[@christhorpec]

He’s like the strict headmaster that everyone feared at school, but now look back with appreciation at the wisdom and discipline

[@shannongreen1520]

Dave is speaking to me, all the way to my soul.

[@DR.Detroit11]

I am grateful to get this lesson at 49, but wish I had it at 15.

[@stbrown08]

I'm 48 totally agree

[@danieliglesias1314]

I’m 21.

[@AndyinMTL]

i hear ya

[@aaront936]

@@danieliglesias1314 if you're 21 don't waste your youth paying off low interest mortgage debt. Get your money in a total market index fund and let it start compounding. Dave gives the worst investing advice.

[@topman8565]

Life isn’t a video game

[@allthingsnu4673]

This video feels like Dave is talking from his heart to his own children. Thanks Dave!

[@bingoplayer1527]

I'm 30 years old and watching your videos daily. Keep up with the good advice Dave. Grtz from The Netherlands

[@rjciaio2]

Dave is one smart man, stay consistent !

[@lidigan8967]

Dave just summed up modern life in the opening 2 minutes

[@BrandonMinguez]

“Compound interest is the eighth wonder of the world. He who understands it earns it… he who doesn’t… pays it.” - Albert Einstein

[@bschlach]

Einstein never said that. And I have now heard that quote 4,183 times now. it was kinda funny and original the first 200 times I heard it. Now it’s just lame.

[@00177454419]

This is Dave at his best.

[@wesleyfreeland7434]

This is wonderful to hear today! A great reminder! My family is grateful to be on baby step 4/5/6 all at the same time.

[@maxb4724]

It's all one big selfie , love that saying !

[@samuelramirez4774]

Hey Dave, great advice! Love the show, you’ve been a great blessing! God bless your family and you and your business!

[@private464]

This is one of the BEST 7 1/2 minute videos, summing up HOW to get wealthy! I love it!!

[@tavonwillisWC]

"It's one big freakin selfie" -GOAT

[@themoneydotchannel3361]

The most important part of investing is consistency. Dump it in VTI or VOO each month. Hold! That's it.

[@georgecastro4188]

Great phenomenal advice Dave!!!👍👍👏

[@Markjacobs4477]

Stay out of mutual funds and stay away from his smartvestors

[@hlhl2691]

More videos like this! Great stuff!

[@סעדעמאשה]

Very wise words, Very wise man, Love you ramsey

[@nicholscharles664]

Dave thanks for everything I’m debt free ‼️

[@insideoutsideupsidedown2218]

So, my buying mega millions lottery tickets investment strategy is a no go...

[@insideoutsideupsidedown2218]

@@Take_America_Back what is your minimum investment $$?

[@pbnpepe4481]

better to buy AMC stock

[@eckankar7756]

I had a neighbor that wall papered his bedroom with his losing lottery tickets to remind him how much money he lost. It curbed his habit to play the lottery drastically. Years later I heard he finally hit a big one and won over a Million $. This was back in the 1970s.

[@oz5022]

Depends, what is your household income?!

[@stevemyopinion423]

buy crypto better odds

[@j.m0ney133]

Live like no one else so you can live like no one else later so you have money to invest 👍

[@insideoutsideupsidedown2218]

What about the other people who are living like no one else? Are you living like them later, or are they living like you, so they can live like no one else.....?

[@tashasmith1234]

Thank you Dave! You're the best!!

[@Clauds71]

Thank you Dave 😊🙏

[@nic_ccc3366]

Time is really the X factor. The earlier you can invest, the better compound interest will work for you. So yes, invest ASAP and regularly (at least once/year).

[@pbnpepe4481]

yes, that's absolutely right

[@frostyk1371]

"Rather have relationship and health. Why not go get BOTH!" I'm getting both...

[@ghostmane2643]

PREACH DAVE!!!

[@chessmasterbenz3094]

Dave is awesome

[@Markjacobs4477]

Dave is a crook

[@mriphone1000]

As others have said, invest early and often. Pile it up.

[@jeffcalvin5516]

YES! 'Feed the Pig!'

[@southeastoriginal5668]

I been watching you for years and this video today readily hit home and I’m about to sign up for real this time idc what anyone thinks anymore.

[@steveo601]

Just inherited a significant managed brokerage through Merrill. In Aug 2020. Amazing to watch it grow. North of 100k on the portfolio so far to date. Compound interest 👍. I’m 48 and will be a millionaire by early next year. Only Mortgage left. Trying to deal with the guilt in knowing what this is and will become even by my late 50’s, without working for it. Maybe Dave can talk about inherited wealth guilt. My wife and I are hard working healthcare professionals with 3 kids and very responsible financially. Dave if you could have a discussion about whether it’s worth it to live a frugal retirement in order to pass generational Wealth to the kids is worth it? Starting to think that way.

[@ia6980]

Qs, why not take those money of 15% that goes into 401k and place it yourself into s&p 500? That way u can withdraw before 59 without no penalty?

[@caseycantrell-gh6fg]

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 with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@lennoxmutterick6434]

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

[@caseycantrell-gh6fg]

@@lennoxmutterick6434 However, if you do not have access to a professional like Clementina Abate Russo, 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.

[@lennoxmutterick6434]

@@caseycantrell-gh6fg Oh please I’d love that. Thanks!.

[@caseycantrell-gh6fg]

@@lennoxmutterick6434 Clementina Abate Russo is her name.

[@caseycantrell-gh6fg]

Lookup with her name on the webpage.

[@l.ls.8890]

Truer words have never been spoken.

[@josephmartinez8166]

This guy is awesome.

[@LoadedToTheMax]

4:30 I think that may be the funniest thing I’ve heard Dave say 😂😂😂

[@lkj0822g]

Compound interest is like fire - used wisely, it can do great things. Unwisely, and it can destroy. One thing I disagree with Dave here is his $10 million figure. I think for most investors, $500k is where they really begin to notice the benefits of their investments. A 10% return on $500k is $50k, which may be as much as one of the salaries in a two income household. People see that and the lightbulb clicks.

[@DaveM-FFB]

Amen!

[@suttsd]

I think he meant it different than how you are thinking. Hes saying at 10 million the returns exceeds the earnings. Most people with 500k in investments make more than 50k. In your scenario, if the 10 percent on 500k replaced 1 income, their greatest wealth building tool is still their income.

[@steveo601]

Yep. I have a portfolio that’s north of 500k. Majority is a managed brokerage. Has made 100k+ since inception in Aug of last year.

[@aaront936]

@@steveo601 how many times has he beat the market? Perhaps you should fire him and invest in a low cost index fund.

[@Curious-Lass]

It works!!!👍

[@steviejd5803]

May I please ask; is a growth fund one that reinvests any gains back into the fund? Is a growth and income fund one that pays a dividend? So is the Vanguard S&P index fund a growth fund?

[@DextahPC]

Dave believes you should buy high-cost mutual funds for long term retirement. Not cheap index funds. I disagree. You're best off putting your money in an SP500 index fund and factor tilting with SCV if you so choose.

[@noveltyrobot]

The language they use here is not common in finance circles. A better way look at them is cap size i.e. Large, mid and small cap. The second factor is value, blend or growth fund. The s&p is a large cap blend fund, meaning it has both growth and value stocks in it, although the growth companies are dominating right now. The choice between value, blend or growth is really up to you. Though a single s&p fund never sent anyone the wrong way.

[@guycoder]

Growth funds typically do not pay dividends as they are primarily comprised of company's that reinvest profits back into the business and grow the stock price. Think rapidly growing small companies , startups and tech. Growth and Income funds do pay dividends but maybe not as much as a pure income funds. Vanguard S&P index fund will contain growth and income companies so will throw off dividends as well as grow. Typically there is an option on the mutual fund to take the dividends as cash or reinvest back into the fund. I have that set on my mutual funds to reinvest dividends automatically. I even get some small level of dividends on my high growth funds in my brokerage accounts that are set to reinvest. The Vanguard website does detail the typical dividend on each of their funds as well as when dividends are paid. For the S&P fund it looks like it yielded 1.8% in 2020 paid quarterly.

[@steviejd5803]

@@DextahPC thanks for your reply. I appreciate your time.

[@steviejd5803]

@@noveltyrobot Thank you for taking the time to explain, it’s very much appreciated.

[@JoeSmith-jd5zg]

@1:18, $10M? That's a bit much. Given Ramsey's 12% return and average income of around $55K, your wealth becomes your greatest wealth building tool long before one gets to $10M.

[@aaront936]

Your income isn't the greatest wealth building tool. Compound interest is the greatest wealth building tool. Don't give up years that you can never get back paying off low interest debt.

[@chivimbe]

@@aaront936 you can build wealth faster on a $1M salary than a $100k salary.

[@imdoc7872]

Patience and consistency

[@FrankS111]

Compound interest.

[@thefrugallifehacker1225]

This is so true!

[@tr3slech3s]

29 with about 15% going into a 401k (mid risk) with about 30K so far in 401K at this job. Looking to retire around 55 and every calculator says I should have about 1.8 million with a 8% annual return. Any advice on if this a good course I'm on? Hopefully return % increases in future. Thanks!

[@michaelm4514]

House paid, truck paid no debt. I invest and have some cash. 42 can’t complain.

[@frankharris6136]

Amazing content!!!!!!

[@lillithjones993]

Can your emergency fund be in a CD rather than making 1% in the bank?

[@weldinggirl]

Amen I’m in

[@Hawking1969]

My personal baby step #1: "Enjoy free things"

[@scottpollan6364]

Compounding interest. Start early and big time. Relax later

[@insideoutsideupsidedown2218]

Btw, financial freedom is not finite, it has infinite destinations on the money spectrum. Meaning you may not get to that 5 million mark. But 2 million ain’t bad when you budget and live within your means. Throw in a paid for house and that it not too shabby a spot to be in. Seeing how some NFL or other sports people blow through 100 million and go bankrupt, it is almost as some people fight financial freedom because it is scary. Most of us can not fathom that kind of money nor know how to behave with it if we all of the sudden got it. Getting out and staying out of debt, saving for a rainy day and living on less than you make are very good spots on that spectrum, and when you put in the efforts to achieve those positions, you trend not to go backward

[@MsLucky443]

👍🏻True.

[@speakingtruths4215]

Stay disciplined and consistent.

[@KPad87]

great !

[@Sofaguy101]

In the game of life, at the end of the day, the king and pawn end up in the same box..Alan Watts

[@oneset6545]

So true. Can’t take your money with you to the box👍🏽

[@nevrock1]

I’m not big on compound interest anymore. My bank will pay me 0.04% interested on a 7 year CD worth $175,000. So WITH COMPOUND INTEREST I would have an extra $490.59 at the end of that 7 years.

[@BradleyCTurner]

Uhhh what? Invest in an index fund.

[@nevrock1]

@@BradleyCTurner but that isn’t compounding interest. It just goes up and down like a stock unless there are some dividends

[@Sofaguy101]

Stay out of banks unless you buy bank stocks..They are lenders not investors. .

[@Silidons91]

Time in the market. Not timing the market.

[@DaveM-FFB]

99.5% of folks can't work and save their way to $5M - $10M of investments (as an employee). btw - You don't need anywhere near that much to achieve financial freedom. And that's not how most multimillionaires got there anyway.

[@TartarianTopG]

You can, you don’t just need a ira and 401k

[@aaront936]

If you follow Dave's babysteps you're right. Don't waste years paying down low interest mortgage debt and invest that money instead.

[@warlockman-ri2jr]

@@TartarianTopG my my how slow

[@frankharris6136]

Facts 💯💯💯💯

[@paulfriedman224]

3 simple steps to wealth… 1. Live on less than you earn. 2. Invest the surplus. 3. Stay out of debt. That’s it

[@kbcinmedusn]

The only problem I have with the baby steps is mathematically our number one need (shelter) is the most expensive thing and cannot be put off. If you're like me there is no such thing as a mortgage that is less than 25% of your monthly income unless it's a fixer upper. Rent is just as expensive so the only other option is rent an apartment and split the rent between two roommates.

[@aaront936]

Get a 30 year fixed thats less than 3% and let inflation whittle away at it. Dave's babysteps will cost you hundreds of thousands in compound interest.

[@HangNguyen-ih8rf]

My 6 years old said he want to be a trillionaire and already coming up with details “business plan” on how to surpass Jeff Bezos. 🤯 blow my mind cuz I’m not money driven AT ALL. I think it’s either you have it in your dna or you don’t….for those who don’t like me, we need to listen to Dave just to get a grip on how to being financially responsible adult 😳

[@don-michealbell6303]

As my man from Chi used to say "right decent ".

[@athenatong3768]

Should I pay off the primary home or use the money to invest in more rental properties?

[@joechang8696]

if we assume investment return of 8%, which is reasonable for long term, stock base assets, then return per $1M is 80K per year. So saying the threshold for investment outweighing is 5-10M is problematic. It all depends on what your salary income is. For salary income of $160/yr, then at $2M in assets, the assets, on average, might generate equal income, but this could vary from negative 1X to positive 2X income on a year-to-year basis. One threshold consideration might be whether to quit your job if unrelated to your assets. I might consider that when investment income is something in the range 2-3X salary income, it might do to renegotiate your job to a low stress level or part time or park your self in a pleasant job so you can pay sufficiently close attention to your investments. Another factor is your job income trajectory, is this lower or higher than your investment value growth? If your investment is in properties , then it might do to quit an unrelated job so you can manage your properties closely, if appropriate no hard rules, just have a good/valid reason for your strategy

[@insideoutsideupsidedown2218]

I would need to factor in out going expenses.If I had 80k coming in on earnings, I would have a paid for house etc and just be paying monthly expenses and doing what with the rest? I guess giving would come into play and using the other money set aside for travel or whatever else.

[@veradias6044]

What is the phone number to call in?

[@fnqadv1162]

Just about at low Everyday Millionaire status. I drive an 8 year old Mitsubishi Mirage.

[@dansdrumchannel9239]

1999 Camry here!😊

[@alainl1211]

He didnt answer the question though. Dollar cost average or lump Sum into the investment:

[@aaront936]

Dollar cost averaging is the safer route.

[@warlockman-ri2jr]

Call dollar cost averaging may be a safer route for Peace of mind numbers have shown that lump sum investing has consistently produced better returns but if you can't handle the mental stress of watching it possibly go down in the short term then by all means dollar cost average both are great options but lump sum investing purely from a number standpoint is going to be better every time

[@ellewoods4568]

👍🏻👍🏻👍🏻

[@TheChromelover]

The baby steps plan assumes that you will have a career for 20-30 years, if I understood it right. These days, do we have a career that spans 30 years? I am in the IT sector and I don’t see people with more than 20 years of work experience. They either quit or get fired.

[@ericahenry2900]

But what about her question? Was the money invested in the bank or the stock market? 🤦‍♂️

[@tekootianderson]

Some people only love to have their ears tickled but do nothing about it despite the answers staring them right in the face.

[@wellslange6749]

Did he say $10 million?

[@SG-zh5xd]

Let time of investing work ,do not get your hand in the cookie jar selling stocks early etc....

[@joco8700]

Dave’s advice is good but math is wrong. Most will make much more in their investment growth before a $10M mark.

[@Camronrichard1]

Yeah but after 10M your profits are yielding you 1M a year

[@sl66ggehrubt]

Last thing I ever want to use my money for is buying anything at all for other men's discarded girlfriends.

[@Syphus323]

“Actually investing”

[@miketucker3571]

There is your next bumper sticker. "officially weird".

[@DaveM-FFB]

FYI - no debt is good, but it doesn't equate to no payments. You still have to pay for housing, transportation, and consumer goods. Without debt, you'll save the interest which could be 10% - 25% of your total expenses. Eliminating debt will program you to live "smaller".

[@absw6129]

50 cent needs to call Dave Ramsay. Net worth: -32,5 million dollars!

[@Sofaguy101]

He hasn't got 2 quarters to rub together..

[@gibblespascack1418]

I have to disagree with the most powerful wealth building tool idea, but only where the line is crossed. The average American does not need$5- $10 million to cross the line as a wealth building tool. The average American family earns a little over $56K per year. At the magic average 10% annual compounding rate, the person only needs a little over $600,000 before the income from the investments outpaces the total job income. If you earn about $100K then it would be a little over $1 million in invested assets. For my portfolio, I only out earned the portfolio growth in 2008 and 2018 which were not great years for S&P 500 funds. And that goes all the way back to 2003 when I had less than $1 mil in invested assets.

[@martinsb1221]

I would agree, 5-10 seems like a lot. There's definetly a difference in liquid assets vs retirement funds. That income from the 600K in retirement will not be enough long term to keep up with inflation and will negate all compounding interest. Now, personally I think if you have 600k in retirement and 400k in liquid assets it's more than enough to not have to sell off too much in case of a market downturn and keep up with your lifestyle

[@gibblespascack1418]

@@martinsb1221 Yea, I would put that number closer to 2 years of cash on hand for your budget. Most recessions last about 19 months, so 2 years should be fine. That is assuming that you are and average American and not living in NYC, Los Angeles, San Francisco, or any other major US city that has a high cost of living. For that 2 years, I would need 100K and the other 900k should be invested.

[@TheElevateYourselfPodcast]

Should you give 10% of your income away before you have a paid for house?

[@bigshoe84]

That’s totally personal choice

[@livingunashamed4869]

Yes you always give, had to learn that the hard away. Giving is the most important part of this whole equation.

[@Xspeedspec]

If everything else is completed except your house being paid then yes

[@insideoutsideupsidedown2218]

Are you talking giving to church, etc. or into a retirement fund?

[@aaront936]

Give what you want to but don't waste your money paying low interest mortgage debt that's less than yearly inflation.

[@AnnMitt]

A Life Plan

[@karenwallace5855]

This is so misleading. Yes, I agree that your income is your most powerful wealth building tool, but all the way up UNTIL I you reach 5 to 10 million dollars, are you kidding me? Half the working people in this country make less than $35k--they would never come close to accumulating that in their lifetime nor would they need to. Those making less than $35k can become FI and retire on less than 1 mil. The sound of that statement would discourage anyone who doesn't know better.

[@aaront936]

Compound interest is your greatest wealth building tool.

[@cherokeefit4248]

Don’t spend more than you think you can afford. I make $3,400 a month and I don’t spend more than $300 on gold or silver unless I save up for an ounce of gold.

[@martinsb1221]

Silver and gold are historically one of the worst investments unless SHTF

[@cherokeefit4248]

I don’t know. I bought silver at $19-$21 and sold for $35 with $10 premium. Let’s say the money on return was good. People just don’t know how to buy silver and gold. I’m not buying and silver and gold until it goes back to unloved levels. I’m happy sleeping at night with my 10 ounces of gold and my junk silver and collector coins.

[@rafaelalves7391]

What you do for a living?

[@Madlyn55]

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>

[@AudraZapoticky55]

I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,

[@LisaSeigfried33]

how do I get in touch with this consultant that assist??>>>>

[@AudraZapoticky55]

STEPHANIE KOPP MEEKS, that's whom i work with look her

[@117swordsmen]

I love how he didn't actually, directly answer any of the questions.

[@damonlawrence3700]

Can you eat out if you get a gift card to a restaurant as a present?

[@insideoutsideupsidedown2218]

Sell the gift card and (1) kid….

[@johncoll4456]

@@insideoutsideupsidedown2218 Only one?

[@thomascoleman7708]

To the horror of Boomers I'm invested in both stocks and the dreaded CRYPTO.

[@CaseyBurnsInvesting]

KISS method. That’s the most important part of investing. And holding long term.

[@rlopez2626]

Stop spamming Casey!

[@kaizenborntowin]

Dollar cost average and make it automatic with Vanguard. On the first of every month invest at least 10% of your monthly income in technology index funds.

[@marcostation1000]

This guys keep saying bitcoin is not good, He is so behind the curve i pitty his listeners

[@befree9579]

bitcoin is 'quick money'

[@marcostation1000]

@@befree9579 bitcoin is future money. and the future is here.

[@elliotjames1273]

Buying Bitcoin is the ONLy way to invest successful

[@Markjacobs4477]

#1 factor- not investing in mutual funds and staying away from his smartvestors.