Worked at Apple and sold some Apple stock was probably a decent shovel. Wonder what the interest rates were on the $165,000. It’s not impossible for people pay off a home early but also what quality of life are you having if you are working and then going to drive Uber and then eating lean cuisine? I dk know if most people have the discipline and drive to do that. Key is budgeting and living within your means. Don’t let lifestyle creep happen.
18 years old with $13,000 saved up and a $4,000 dollar car paid with cash. I work almost 50 hours a week, door-dash on weekends, flip phones on facebook, and go to college part-time online. Listen to the Ramsey Show every day, appreciate the advice George!!
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a financial advisor like I did. I turned $90k into $53,000 in annual dividends-a significant milestone for me today.
@@dr.Morgann Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
@@dr.Morgann Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
George, I'm loving the new channel. Being a longtime Ramsey fan, I definitely love the content. But I also love your style - your delivery and editing choices are great. Keep up the great work.
BIG fan of the Ramsey Show George, I’m now a new subscriber to your channel. I’ve been following Graham Stephan for a quite a while now and you kind of have his style, you’re both great!
We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@Oly_laura My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thanks for sharing this George. As a dave ramsey listener, I dug myself out of $30k in credit card debt and paid it off completely in about 5 years. I own 0 credit cards now and am completely debt free except for a house. I am however saving to pay cash for that thanks to the advice I get from Dave and yourself. Thanks for teaching people how to manage their money!
Loving the new channel, George! My husband and I aren’t baby steps millionaires quite yet, but we are 100% debt free including our home! We expect to be millionaires by our mid to late 30s! We went from a significantly negative net worth to baby step 7 in only 5 years! 🤯
22 years old. Salary 185k/ year. I save 85% of my income, which all goes to investments/stocks. I shop at Walmart and Ross. Cook my own food. I own (less than 40 items, yes I counted) I just have a 2022 Honda Civic (poor mans car). Dont plan on having wife or kids either. I like to travel internationally 2-3 times a year. Life is better if you live intentionally and not spend on random stuff.
My wife and I are big ramsey fans at 26. We are debt free saving for a home with about 150K saved up (we live in an expensive city) The plan has worked really well for us. Love the new content George!
Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.
it is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.
@@yolanderiche7476 I have been utilizing a financial advisor for daily investment decisions for the past three years resulting in over $500k in gains. My financial advisor’s analysis has prevented losses and guided me to make the most of market breakthroughs, particularly during downtrends. Their expertise in safe haven asset trading and short-selling strategies has proven to be invaluable.
@@belobelonce35 Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
@@edelineguillet2121 my financial advisor is 'JEFFREY HAROLD STARR'. I found him on a CNBC interview where he was featured Afterwards I reached out to him. he has since then provided me with entry and exit points in securities I focus on.
@@belobelonce35 Thank you so much for your helpful tip! I was able to verify the person and book a call session with him. he seems very proficient and I'm really grateful for your guidance.
Incredible! My wife and I went to FPU when we were 19! We’re 23 now, and our only debt is our mortgage and both have bachelors degrees! It really works!
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it. Investing is a long-term game. It's just hard to focus on the long term playbook when I'm already in a massive loss.
"Don't tell me what you value, show me your budget, and I'll tell you what you value" Don't live above means, that's a problem. Don't venture into the capital market lacking the discipline and emotional strength to handle financances in a volotile market. It is the reason alot cry about loss. I've read 345 books on investing and finance, started making money on it since I was 15, and now I've been in the financial market for 32 years. Not bragging but I've made more money during "inflations" than any other period.
I for one I'm not happy about the inflation in the U.S anymore: Central Banks with the U.S. Federal Reserve should be held accountable. It suprises me when I hear people say they're in profit even when the entire stock market index has lost over 20%. And I'm moved to ask, what is your magic wand? Mind sharing? I'd love to listen
I might have the experience, but I can tell you that the smartest move to make is finding an financial advisro with the right skills and exposure in your area of interst (stock). That's how I've been able to rake in $675k this year alone.
I've thought about finding an adviser but've been quite unsure if it was the right step for a noob. with this, I'm more convinced and I think I'm a step closer towards finding an one. my next problem now is, how do I reahc one.... I see some on CNBC but I don't know them that mch... Do you mind if I asked the particular adviser assisting you?
A thousands dollars won’t pay for a simple ER bill today. I know live in Midwest and just a one of those bills. Nothing to major got stitches and the bills was $1,300.
This is my new favorite channel! It's so refreshing to see someone closer to my age giving this common sense advice rather than the "get rich quick" info I see all over social media.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@IrenaDolinsek I agree with you. I ventured into stock with less than $100K, and now I'm about 17K short of half a million dollars. Credits to Kathleen Yanelli Carole. She's verifiable
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
Did the same at 25 I was fresh out of college in the military (officer) - saved my butt off, started a successful air bnb and other real estate investments (reinvested all profits) all while doing the standard Roth and 401k investments and 10 years later I woke up age 35 a millionaire. It’s crazy what 10 years of hard work can do
@gmualum08 as a Virginia resident i can confirm with the willingness to make the sacrifice of daily commuting there are relatively affordable living situations within an hour to hour and a half of DC, i know 2-3 hours a day of commuting sucks, but it's doable, and a mindset thing
A few months ago I informed my wife that we are now technically millionaires. Her response was I don't feel any different, what do you want for dinner? We drive a used minivan and my pick up was ten years old when I bought it. We don't spend very much because it's not much that we want. We are retired but because of our spending habits are net worth continues to go up. The money provides a sense of comfort that is something we did not have years ago.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom
i am 16 and super motivated to be a millionaire! i know it will take lots of time (i want to be a millionaire by the time im 35) and of course it will take a crazy amount of hard work
George! Your editors are awesome! Congrats on being an everyday millionaire🎉🎉🎉. I was surprised the average journey is 17 years. Our experience was about a decade as well. It changed EVERYTHING!
Only if a good amount of folks do what you guys teach, just imagine how many millionaires we already have or will have in the future. Not the sad statistics where at least 50% of people are living paycheck to paycheck, even for high income earners. Great contents as always!
For years, I’ve been telling myself to take the necessary steps-open a brokerage account, buy ETFs, and play it safe. It’s even made it onto my last five or six New Year's resolutions. Yet, for some reason, I just can’t get myself to follow through. I think it’s time to accept that I’ll never be the savvy, DIY investor everyone expects millennials to be.
I’m taking the hybrid approach, VOO, SCHD as my foundation, with growth like MA, UNH, HD. And slow growth like O and PEP. I have a 20 year time horizon. But the best part is I still enjoy my life while I do this. Travel, and buy ONLY things I love. It’s the best combo, plus I love the small victories with receiving dividends/dividend growth/share price appreciation.
I hope everyone is ready to invest money at the right time. Planned actions can help you secure your financial future. The stock market still gives you the best chance of becoming a millionaire.
I'm glad I stumbled across this discussion. If you don't mind, could you tell me how to reach this financial adviser who helps you with your investments?
Love the humor and clips 😂Made it very relatable!! My husband and I are debt-free and are working on paying off our house! I stopped working outside the home so I could raise our kids and save money on childcare and then I thought, I might as well make money doing this so I started my own in-home daycare and it's such a blessing to be able to help financially that way but still be able to raise my kids! Looking forward to doing our debt free scream within the next five to seven years! Keep up the great content❤
I love what you said about having a long term view so much. Being in the market, even if it's the S&P, demands a lot of patience. I'm not close to being a great investor, but having a long term view has definitely helped me profit significantly, more than 400% in the last five years.
I agree. Patience, coupled with a strong investing skill, could make significant returns. If you don't have the skill, hire someone who does, and wait it out. I've made so much from following this very simple strategy.
That's a really impressive return. Any tips in particular that could help me? I'm trying to put some of my money in the market and make profit this year.
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors you could check out. I have been working with Sharon Louise Count and she's really, really good. If she meets your discretion, then you could go ahead with her. She has a website.
Dude this is lit, thanks for exposing your transformation from start to finish. This is inspiring for me as a 28 year old getting a head start on this. Proud of you, brother!
Really loving the new channel George! It's the same information/plan that Dave has been teaching for years, just in a younger and fresher delivery. Plus the editing here is just *insert chef's kiss here
I miss you George. Ever since my wife and I did our debt free scream on the Ramsey Show with you and Doctor D life has been good. Going on the show with you and him in September 2021 life has been great, but miss seeing you.
I’ll admit, when I first started seeing George on Ramsey, I didn’t like him. But he quickly grew on me because of the way he braces personal criticisms aimed at him. He braces it and also has some witty comebacks. Strong wit and quick comebacks are usually a sign of higher intelligence.
Gosh, this kind of story inspires me to keep going! George, you are so brave and unapologetic when it comes to doing things right! THANK YOU for doing this video.
This is definitely do-able. In the past 4 years my net worth has gone up drastically by keeping it simple. Living frugally, saving, and investing. I don't make over 100k either. Compound interest and real estate appreciation are amazing.
Cannot stress the importance of an emergency fund enough no matter where you are in your financial journey. We are in Baby Step 7. One of our large trees had a rough go this winter and is no longer structurally sound. Our emergency fund is allowing us to handle that situation without digging into our various goal funds. It really has just made it an inconvenience rather than a true emergency.
Pretty disappointing video. I expected more transparency and specific details. At least tell us your income throughout the 10 years that made this possible and the appreciation of the home.
He has on other videos. Not important though. Specifics don’t make sense when you have different numbers. Pay off YOUR amount of debt on your salary. And get the cheapest house you can afford. 👍🏾
They all hold this one flag. Pay off debt save emergency funds, start investing and wait for decades for ur 10% returns. They never talk about small businesses that everybody can do with small amount of money. I am not looking for shortcuts but at least it will not take decades.
I've been saving roughly 15% for 10 years and my account is 150k. Major factor like you said was the dual income no kids but also your salary plays a massive role. Little longer means I retire a millionaire at 62 which is 20 plus years away lol
Yeah it's pretty telling that he was so willing to talk about the numbers of his debts when it helps him seem relatable to his viewers but didn't mention his/his wife's income throughout the video. Ramsey and co preach putting 15% of your income toward savings and no more than 25% of your income toward housing. In order to become a millionaire in 10 years, you need to be adding $100k to your net worth annually (average) for that entire time frame. If 40% of your gross income going towards house equity/savings then you'd need to have a gross income of 250k.
I'm on the 'slow-go' route to become a millionaire, because I make little money (happily doing so) and support a family of 6. Because I bought a house pre-pandemic, I am likely to be considered a millionaire much earlier than retirement age. The main contributing factors to my financial situation is the timing of my home purchase and never having took on any loan; I would have to quadruple my income today to purchase the same home on a 15 year note. I do find I LOOOVE the math involved, finding where pennies can be pinched, knowing how little I can make to still make ends meet and how TIME itself (compounding interest) can make you rich even if you're making very little.
I use to hate on those "Dave Ramsey " style of philosophy, but it's obvious it's a good match for many people, George here included. Personally I'd have no wealth without debt. I follow the philosophy of leveraging debt. This being said both George and I did our research on financial strategy and chose what was right for us. You should as well. What is right for George and myself may not be for you. Books are relatively inexpensive and in my opinion much more detailed than any TH-cam video. Libraries are a good start and if you don't like looking at black and white, there is audible.
Believe it. I submitted to the process in 2017 and I'm debt free, house and all. Very close to being an EDM. If George and I can do it, Fernando and everybody else can certainly do it.
I hate when peope don't discuss specifics of income or location of home. Where are you getting a 165k home? Dude is just regurgitating Dave's book. Based on their housing advice, nobody on the west coast could ever buy a house.
I started paying off debts, but to me, it made more sense to pay off my car, which was a big chunk of my paycheck. I started in January, used the majority of my savings to make a large payment, then started sending extra towards the principal and got my title in September. Now, it was time to tackle my 2 cc, but sadly, I got laid-off in October. I'm now trying to figure out the next steps. I thank God for hammering paying off the car first because things would have been more difficult. Trusting that His plan is better than mine is what keeps me going.
I mean no disrespect, but you are wrong... Believe it or not, the market isn't as bad as some people have made it look... Only small and mid-caps seem to be stagnant others are making record profits... As a beginner investor who knows next to nothing, I have made over $30k profit in a few months... I was retrenched recently, and I am using these resources to keep body and soul together.
Hi ANTHONY, your profit margin is quite impressive for a beginner. Good for you!!!! can you share your spreadsheet or investing journal?? inadvertently, i sold a boatload of my portfolio recently.
I have never drawn up a spreadsheet or trading journal, it's of no relevance to me... I simply follow Kelly Matwick's investing instructions and guidance... You can look her up she's registered.
After I paid off my mortgage. I had so much more freedom. Now am able to maxed my 401k, back doored roth IRA and auto investing 3k per month in brokerage.
We are doing a similar thing, although we arent as extreme with being frugal and it will take years for us to pay off our house. A paid off house in 2 years would be like a dream come true.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Wow! Loved every second of my watch to the end. I could really use your help George, I’m 52 and disabled since 2007, still own a small business with $380K in savings. Already have a share in a rental property. But I'd still love to grow my investments ahead of my retirement. Can you help?
Just buy and hold Bitcoin. Alternatively, find reputable stocks with long-term growth potential and stick with them. However, it would be wise to just consult a market strategist.
I agree, having a market strategist for investing is genius! Over the past 7years, I’ve had a financial advsor consistently restructure and diversify my portfolio and I’ve made over $1.4 million in gains… might not be a lot but i'm financially secure and that's fine by me.
Making money is action, saving money is behavior and growing money is knowledge. The basic step to acquiring wealth is figuring out your goals and plans, with the heIp of financiaI pIanner you will gain rapid financiaI growth and enjoy the benefits of managing your finances.
FinanciaI growth was rapidly gained (gathered over 1M in 2years) through my financiaI pIanner. Got my 2nd house in May, hereby making my goaIs a reaIity.
Investing in a stock may look straightforward, but choosing the right stock without a proven technique can be difficult. I've been attempting to grow my $210,000 portfolio for a while, but the largest impediment is a lack of defined entry and exit strategy. Any input on this matter would be highly appreciated.
Some individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
'Laurelyn Gross Pohlmeier' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Upon finding her full name through an internet search, I discovered her page and promptly sent an email to arrange a meeting for a conversation; I am currently waiting to hear back from her.
@@Angelinacortez495 Walmart, Lowe's, H Depot, Google, Microsoft, Chipotle, & Motorola all have solid 10 year track records. Some of the hotels have decent track records, but your solid Oak Trees are what's mentioned above. Yes, Nvidia looks amazing right now; however, their growth does not spam over a solid 10 years.
Entertaining and informative - well done George. Although I didn't do exactly 100% what you did, I have pretty much all my life "lived beneath my means" and saved/invested the difference. And I've never regretted it, love being out of debt, and having the ability to handle unexpected major bills (appliance breakdowns, car repairs, etc.) as inconveniences rather than disasters.
We live in challenging times if you follow the news, fin-mkts have become more volatile and government are ever more regulatory. I'm mostly in cash about $600k liquid, but considering stock market indexes at an all time high, do I buy stocks now, or contribute only to my 401k?
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Nicole Desiree Simon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I have no where near the money you have. I find it smart to put the money you can't afford to lose into safe conservative retirement investing. Put what you can afford to lose into riskier aggressive investments for much better returns
Great video. I can't say getting rid of credit cards is good advice though. Not having credit card debt is good advice, but you can have a credit card and not be in debt too. That's why your budget exists. If you stay within your budget, you won't have credit card debt. I haven't had paid interest on a credit card or had any debt outside of my home for the last 20 years.
I love the advice, I’m only 19 and I’m just about done paying off my truck, but I’m also in a situation where I’m worried about saving up to afford a home. I’m not married or have a dual income, and I make decent money for my age, but I’m worried that trying to invest and save for cars that I like, and saving for a down payment on a house is a lot of my money out the window. I want to enjoy my young life but I already feel as though it may pass as I’m trying to save for these things.
If I could give you some advice man forget the cars in the beginning while your young. I was in my 20s when I bought a Corvette and a 350z for my wife. It was the dumbest financial decision ever. A complete waste of money because cars like that you don’t keep and drive until the wheels fall off. Things also change in your life kids maybe your job is further away and gas kills you. Your main priority should be to save for the house down payment so you can avoid PMI and get the best rate/ payment you can. Once that happens start to save for a sports car if you really want it. But have a paid for practical car if you plan to do this. I sold those cars for a loss and bought cash cars from then on and never looked back. I now own a 2nd home in Hawaii that I travel to once a quarter with my family because I can afford to have 2 homes without a stupid car payment.
Same thing w me I been saving about 800-1000k for my 1200 paycheck I get leavin with my only 200bucks for 2 weeks, I have a gf n it’s hard tryin to have a life and save at my age, feel like everything I wanna do I can’t cuz I’m too worried about Savin
30-year-old you will come very fast. you will feel young but will regret the past if you have debt or if you have no savings. if you just save now all your income and learn new skills, that pay much more, you will be having much more fun as a millionaire, when most people will never be. have fun now for 10 years or have fun from 30 until the end of your life. your choice
Find the balance. You don't need to sacrifice everything to build wealth. Set up a responsible savings system by living below your means and enjoy the rest. Life is short
On and off flurries this way. Welcome back. Actually did a bit of closet decluttering this morning before I saw your video - inspired by you to go back later and do 10 more minutes with my accessories drawer! Thanks!
I thought this clip was going to be super awkward but the editing and punchlines were hilarious.😂😂😂 The brownie points, don’t estimate me, and doooooooo it were my favorite!
Yay George and Whitney! 🎉 This plan works for any age including the oldies 💪 😁 I love hearing so many young people doing the Ramsey plan like you. Very rewarding 👍👏
I’m 42 my wife left 3 years ago and I have been struggling ever since. I have my own business building puppets. But it’s not enough. I still haven’t found a good job yet. I’m trying my best to get one.
Great video George and team! We're on baby step 2. Thought we'd be consumer debt free by 2028 but now we're looking at 2024! We started in October 2022. 🎉🎉
Love this! I’d love to hear more about home ownership for those who are coming to financial freedom a bit older. I’m in my late 40s and will be on baby step 3 very soon but my partner rent (and we have a teenager). I’m in the UK and the housing market is crazy and wages are low… I can’t imagine being able to own
I know this was awhile ago, but I hear you. Are you open to moving? Reason I ask, is I had played Robert Kiyosaki’s cash flow board game. We were renting for ever, and I hated it (38F). I went looking for affordable real estate, but there was non in Canada where I lived (think Vancouver island) After the game, I got inspired to look in Canada’s smallest province where real estate is affordable. I kid you not - we bought a house for $24,900. It was a 1980s house and needed some love, but my husband is a carpenter so we rolled up our sleeves and got to work 💪 Now our house is valued at $300,000! Can you find a place and put some sweat equity in it? Are you willing? We lived with no electricity or running water for a month, but we didn’t care because it was our own 🏡
This is great. Happy for them. And clearly took a lot of discipline. But let’s be honest the real key to this 10 years to millionaire story is the income they were making. In order to pay that mortgage off in that amount of time, they would be putting about $6500 per month toward the house with mortgage, taxes, insurance, etc. That’s more than most make in a month after taxes. So they’re making well into six figures to be able to do that and live with other bills. I’m not hating, truly. I know a lot of people who make that kind of money but are up to their eyeballs in debt. I just wish the Ramsey crew would be a little more upfront sometimes with the fact that many times in order to work their plan, the first and best step is to find a way to make more money (not just little side hustles, although of course they help) You really have to make substantially more than the average American + have the discipline and wisdom George did to make this happen.
I caught too. Makes it sound like anyone can be a millionaire in 10 years when a lot of us only make 40-50k and with the housing market the way it is it seems hopeless for young folks like me to buy a house!
My husband and I paid off our 1st house in 10 years. It's not double payment, it's extra principal only payment every month. There are online calculators to figure out how much extra. Ramsey solutions has one. After that house was paid off we got an equity loan to build a lake house and paid that off in 7 years. I was a teacher and my husband was a welder and we had 2 kids.
@@laurennguyen1008 That's fantastic (no sarcasm, seriously)! Very impressive. Do you mind me asking for some specifics: what was y'all's combined income? When was this (what years)? The reason I ask is, like I said in my comment, my problem with the video is that George and the Ramsey crew often make it sound like all you have to do is just have financial discipline and you can be a millionaire (in this case in 10 years). When, in reality, it takes financial discipline *plus* a certain income level to have enough margin in the monthly budget to pay down the house quickly *while* investing 10-15% of your monthly income *while* staying out of debt by saving up ahead of time for a car/major household appliances, etc. If I had to hazard a guess, I would say that you guys made at least $120,000 per year, and/or lived in a cheap part of the country, and did it before the pandemic spike in housing prices/interest rate/inflation, in order to do that. Is that correct? I'm not saying it was easy, or to take anything away from your accomplishment. Just adding some context to my critique of the video.
I was always a long-game visionary. People didn't get it. They saw me building a business that generated no profit while I built up patents, technology, capabilities, client base, and market value. I drove used beater cars (and still do). Then, just as planned, the back end started to kick-in on my plan. My wife retired at 40 and I'm right behind her. Now people are baffled and asking me how I did it. I made a plan and stuck to it.
Heading there at $963K. That's with two mortgages (one house is a rental), one car loan and two small kids. We are in California where everything is expensive. Single income household.
The one very important thing missing from this equation: your shovel (a.k.a. Your income)
Worked at Apple and sold some Apple stock was probably a decent shovel.
Wonder what the interest rates were on the $165,000.
It’s not impossible for people pay off a home early but also what quality of life are you having if you are working and then going to drive Uber and then eating lean cuisine? I dk know if most people have the discipline and drive to do that.
Key is budgeting and living within your means. Don’t let lifestyle creep happen.
18 years old with $13,000 saved up and a $4,000 dollar car paid with cash. I work almost 50 hours a week, door-dash on weekends, flip phones on facebook, and go to college part-time online. Listen to the Ramsey Show every day, appreciate the advice George!!
And not a soul asked, but congrats!
@@user-vi5vd3ty9dhater gonna hate 😂
well done! that’s awesome 😊
That is awesome! Stay focused no matter what!
Future Millionaire ? I'll take that bet.
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a financial advisor like I did. I turned $90k into $53,000 in annual dividends-a significant milestone for me today.
@@dr.Morgann Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
"Melissa Elise Robinson" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
@@dr.Morgann Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
On the journey now at 41😮 I will see reward in ten years. Ready to put in the work
I like how you said we overestimate what we can do in a year and underestimate what we can do in a decade. Golden✨
🥰 you’re gorgeous
Bill Gates.
@@ShutterSpeedGamingsimp alert
George, I'm loving the new channel. Being a longtime Ramsey fan, I definitely love the content. But I also love your style - your delivery and editing choices are great. Keep up the great work.
I second this motion!
Agreed it’s refreshing and new I love it
Your editors are incredible absolute animals.
I was thinking the same thing
Can't deny their skills and the work put in, but it ain't my style of editing. The jumping to another clip whenever he makes a point is annoying.
BIG fan of the Ramsey Show George, I’m now a new subscriber to your channel. I’ve been following Graham Stephan for a quite a while now and you kind of have his style, you’re both great!
@@om617yota8 it’s maybe a good idea for the first three to four minutes- keep the energy high lol… but ya it’s wayyy to much 😂
Z 0:30
We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@hermanramos7092 Impressive can you share more info?
@@Oly_laura My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thanks for sharing this George.
As a dave ramsey listener, I dug myself out of $30k in credit card debt and paid it off completely in about 5 years. I own 0 credit cards now and am completely debt free except for a house. I am however saving to pay cash for that thanks to the advice I get from Dave and yourself.
Thanks for teaching people how to manage their money!
Loving the new channel, George!
My husband and I aren’t baby steps millionaires quite yet, but we are 100% debt free including our home! We expect to be millionaires by our mid to late 30s! We went from a significantly negative net worth to baby step 7 in only 5 years! 🤯
22 years old. Salary 185k/ year. I save 85% of my income, which all goes to investments/stocks. I shop at Walmart and Ross. Cook my own food. I own (less than 40 items, yes I counted) I just have a 2022 Honda Civic (poor mans car). Dont plan on having wife or kids either. I like to travel internationally 2-3 times a year. Life is better if you live intentionally and not spend on random stuff.
The best decision Ramsey Solutions could have made was to give George this channel. George unleashed is the more cowbell needed in this life! 🎉
My wife and I are big ramsey fans at 26. We are debt free saving for a home with about 150K saved up (we live in an expensive city) The plan has worked really well for us. Love the new content George!
Good job!!
Married at 26....god bless
Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.
it is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.
@@yolanderiche7476 I have been utilizing a financial advisor for daily investment decisions for the past three years resulting in over $500k in gains. My financial advisor’s analysis has prevented losses and guided me to make the most of market breakthroughs, particularly during downtrends. Their expertise in safe haven asset trading and short-selling strategies has proven to be invaluable.
@@belobelonce35 Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
@@edelineguillet2121 my financial advisor is 'JEFFREY HAROLD STARR'. I found him on a CNBC interview where he was featured Afterwards I reached out to him. he has since then provided me with entry and exit points in securities I focus on.
@@belobelonce35 Thank you so much for your helpful tip! I was able to verify the person and book a call session with him. he seems very proficient and I'm really grateful for your guidance.
Incredible! My wife and I went to FPU when we were 19! We’re 23 now, and our only debt is our mortgage and both have bachelors degrees! It really works!
Legend
Wish i wasnt 53 before the mindset clicked.. I feel its too late but im still going full force with my new found financial mindset.
yeah he is way ahead of his peer group with this wisdom
Better late than never! You'll be better off than you would be if you did nothing.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it. Investing is a long-term game. It's just hard to focus on the long term playbook when I'm already in a massive loss.
"Don't tell me what you value, show me your budget, and I'll tell you what you value" Don't live above means, that's a problem. Don't venture into the capital market lacking the discipline and emotional strength to handle financances in a volotile market. It is the reason alot cry about loss. I've read 345 books on investing and finance, started making money on it since I was 15, and now I've been in the financial market for 32 years. Not bragging but I've made more money during "inflations" than any other period.
I for one I'm not happy about the inflation in the U.S anymore: Central Banks with the U.S. Federal Reserve should be held accountable. It suprises me when I hear people say they're in profit even when the entire stock market index has lost over 20%. And I'm moved to ask, what is your magic wand? Mind sharing? I'd love to listen
I might have the experience, but I can tell you that the smartest move to make is finding an financial advisro with the right skills and exposure in your area of interst (stock). That's how I've been able to rake in $675k this year alone.
I've thought about finding an adviser but've been quite unsure if it was the right step for a noob. with this, I'm more convinced and I think I'm a step closer towards finding an one. my next problem now is, how do I reahc one.... I see some on CNBC but I don't know them that mch... Do you mind if I asked the particular adviser assisting you?
Thanks for sharing this useful piece of information,
I just googled her up. May we all succeed soon!!
A thousands dollars won’t pay for a simple ER bill today. I know live in Midwest and just a one of those bills. Nothing to major got stitches and the bills was $1,300.
This is my new favorite channel! It's so refreshing to see someone closer to my age giving this common sense advice rather than the "get rich quick" info I see all over social media.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@IrenaDolinsek I agree with you. I ventured into stock with less than $100K, and now I'm about 17K short of half a million dollars. Credits to Kathleen Yanelli Carole. She's verifiable
@@Erinmills98 Fantastic! can u share more details?
@@AstaKristjan She is available on the internet for more details.
Vote red
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
How can I get in touch with your financial consultant
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
“Passive income” lol.
Did the same at 25 I was fresh out of college in the military (officer) - saved my butt off, started a successful air bnb and other real estate investments (reinvested all profits) all while doing the standard Roth and 401k investments and 10 years later I woke up age 35 a millionaire. It’s crazy what 10 years of hard work can do
Great! How much do you make a month after taxes?
@@rolandofrancis8707 I was generally making between 80-120k in the military and another 25k a year with air bnb
@gmualum08 as a Virginia resident i can confirm with the willingness to make the sacrifice of daily commuting there are relatively affordable living situations within an hour to hour and a half of DC, i know 2-3 hours a day of commuting sucks, but it's doable, and a mindset thing
Uh huh. Yea, not hard "sir" when you're making upwards of 70K at O-3.
@@jrr7031 you’re not wrong 0-3 is good pay. have you ever had any interest in finishing college and becoming an officer ?
A few months ago I informed my wife that we are now technically millionaires. Her response was I don't feel any different, what do you want for dinner? We drive a used minivan and my pick up was ten years old when I bought it. We don't spend very much because it's not much that we want. We are retired but because of our spending habits are net worth continues to go up. The money provides a sense of comfort that is something we did not have years ago.
Congrats
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom
*STEPHANIE KOPP MEEKS* , That's whom i work with
You can glance her name up on the internet and verify her yourself. she has years of financial market experience
Thanks so much I was able to find her page and I already leave her a message
i am 16 and super motivated to be a millionaire! i know it will take lots of time (i want to be a millionaire by the time im 35) and of course it will take a crazy amount of hard work
George! Your editors are awesome! Congrats on being an everyday millionaire🎉🎉🎉. I was surprised the average journey is 17 years. Our experience was about a decade as well. It changed EVERYTHING!
Only if a good amount of folks do what you guys teach, just imagine how many millionaires we already have or will have in the future. Not the sad statistics where at least 50% of people are living paycheck to paycheck, even for high income earners. Great contents as always!
For years, I’ve been telling myself to take the necessary steps-open a brokerage account, buy ETFs, and play it safe. It’s even made it onto my last five or six New Year's resolutions. Yet, for some reason, I just can’t get myself to follow through. I think it’s time to accept that I’ll never be the savvy, DIY investor everyone expects millennials to be.
I’m taking the hybrid approach, VOO, SCHD as my foundation, with growth like MA, UNH, HD. And slow growth like O and PEP. I have a 20 year time horizon. But the best part is I still enjoy my life while I do this. Travel, and buy ONLY things I love. It’s the best combo, plus I love the small victories with receiving dividends/dividend growth/share price appreciation.
I hope everyone is ready to invest money at the right time. Planned actions can help you secure your financial future. The stock market still gives you the best chance of becoming a millionaire.
I'm glad I stumbled across this discussion. If you don't mind, could you tell me how to reach this financial adviser who helps you with your investments?
"Melissa Elise Robinson" is the fiduciary advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Love the humor and clips 😂Made it very relatable!! My husband and I are debt-free and are working on paying off our house! I stopped working outside the home so I could raise our kids and save money on childcare and then I thought, I might as well make money doing this so I started my own in-home daycare and it's such a blessing to be able to help financially that way but still be able to raise my kids! Looking forward to doing our debt free scream within the next five to seven years! Keep up the great content❤
I love what you said about having a long term view so much. Being in the market, even if it's the S&P, demands a lot of patience. I'm not close to being a great investor, but having a long term view has definitely helped me profit significantly, more than 400% in the last five years.
Time in the market is more important than timing the market. I can't remember who made that quote.
I agree. Patience, coupled with a strong investing skill, could make significant returns. If you don't have the skill, hire someone who does, and wait it out. I've made so much from following this very simple strategy.
That's a really impressive return. Any tips in particular that could help me? I'm trying to put some of my money in the market and make profit this year.
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors you could check out. I have been working with Sharon Louise Count and she's really, really good. If she meets your discretion, then you could go ahead with her. She has a website.
Thank you for this. I'll send her an email to reach her, and I hope I'm able to make something out of it.
Dude this is lit, thanks for exposing your transformation from start to finish. This is inspiring for me as a 28 year old getting a head start on this. Proud of you, brother!
George you're killin it man! The true Dave Ramsey prodigy right here.
He employs Dave Ramsey's good common sense, with this generations humor and memes. It's what this generation desperately needs.
Really loving the new channel George! It's the same information/plan that Dave has been teaching for years, just in a younger and fresher delivery. Plus the editing here is just *insert chef's kiss here
I miss you George. Ever since my wife and I did our debt free scream on the Ramsey Show with you and Doctor D life has been good. Going on the show with you and him in September 2021 life has been great, but miss seeing you.
They have events throughout the year, so maybe you can see him again sometime.
I’ll admit, when I first started seeing George on Ramsey, I didn’t like him. But he quickly grew on me because of the way he braces personal criticisms aimed at him. He braces it and also has some witty comebacks. Strong wit and quick comebacks are usually a sign of higher intelligence.
George is killing it with these videos
The editing on these videos is top notch! Very entertaining 😂
Thank you for posting! I’m in baby step 2 and sometimes get impatient but this video made me feel motivated again to keep going 😊
Gosh, this kind of story inspires me to keep going! George, you are so brave and unapologetic when it comes to doing things right! THANK YOU for doing this video.
George, you're the best!! Thank you for breaking things down to common sense.
This is definitely do-able. In the past 4 years my net worth has gone up drastically by keeping it simple. Living frugally, saving, and investing. I don't make over 100k either. Compound interest and real estate appreciation are amazing.
36 year old with almost 20k saved as of June. Cut up all my CC payment. Paying cash and using only debit cards for everything.
Do you rent? I'm in the same boat, except I use one credit card
Cannot stress the importance of an emergency fund enough no matter where you are in your financial journey. We are in Baby Step 7. One of our large trees had a rough go this winter and is no longer structurally sound. Our emergency fund is allowing us to handle that situation without digging into our various goal funds. It really has just made it an inconvenience rather than a true emergency.
I completely agree! I save so much money by not paying rent, by saving up and paying cash for my house.
Pretty disappointing video. I expected more transparency and specific details. At least tell us your income throughout the 10 years that made this possible and the appreciation of the home.
Yep
He didn't mentioned he has no kids and etc
It was more about the mindset, i believe
@@MelonyEnterprise-y2ehe did tho
He has on other videos. Not important though. Specifics don’t make sense when you have different numbers. Pay off YOUR amount of debt on your salary. And get the cheapest house you can afford. 👍🏾
They all hold this one flag. Pay off debt save emergency funds, start investing and wait for decades for ur 10% returns. They never talk about small businesses that everybody can do with small amount of money. I am not looking for shortcuts but at least it will not take decades.
I've been saving roughly 15% for 10 years and my account is 150k. Major factor like you said was the dual income no kids but also your salary plays a massive role. Little longer means I retire a millionaire at 62 which is 20 plus years away lol
Yeah it's pretty telling that he was so willing to talk about the numbers of his debts when it helps him seem relatable to his viewers but didn't mention his/his wife's income throughout the video. Ramsey and co preach putting 15% of your income toward savings and no more than 25% of your income toward housing. In order to become a millionaire in 10 years, you need to be adding $100k to your net worth annually (average) for that entire time frame. If 40% of your gross income going towards house equity/savings then you'd need to have a gross income of 250k.
Yup...Not as difficult to become a millionaire if your take home is 120k. Much more an uphill battle when your take home is 40k.
I'm on the 'slow-go' route to become a millionaire, because I make little money (happily doing so) and support a family of 6. Because I bought a house pre-pandemic, I am likely to be considered a millionaire much earlier than retirement age. The main contributing factors to my financial situation is the timing of my home purchase and never having took on any loan; I would have to quadruple my income today to purchase the same home on a 15 year note. I do find I LOOOVE the math involved, finding where pennies can be pinched, knowing how little I can make to still make ends meet and how TIME itself (compounding interest) can make you rich even if you're making very little.
I use to hate on those "Dave Ramsey " style of philosophy, but it's obvious it's a good match for many people, George here included. Personally I'd have no wealth without debt. I follow the philosophy of leveraging debt. This being said both George and I did our research on financial strategy and chose what was right for us. You should as well. What is right for George and myself may not be for you. Books are relatively inexpensive and in my opinion much more detailed than any TH-cam video. Libraries are a good start and if you don't like looking at black and white, there is audible.
Incredible to see a channel promote long term growth rather than get rich quick schemes. Makes me more inclined to beleive you George.
Believe it. I submitted to the process in 2017 and I'm debt free, house and all. Very close to being an EDM. If George and I can do it, Fernando and everybody else can certainly do it.
@@JimmyLandPL I've been following the Ramsey Plan for 3 years now. Almost built my emergency fund. Getting ready for Step 4.
I hate when peope don't discuss specifics of income or location of home. Where are you getting a 165k home?
Dude is just regurgitating Dave's book. Based on their housing advice, nobody on the west coast could ever buy a house.
I started paying off debts, but to me, it made more sense to pay off my car, which was a big chunk of my paycheck. I started in January, used the majority of my savings to make a large payment, then started sending extra towards the principal and got my title in September. Now, it was time to tackle my 2 cc, but sadly, I got laid-off in October. I'm now trying to figure out the next steps. I thank God for hammering paying off the car first because things would have been more difficult. Trusting that His plan is better than mine is what keeps me going.
*Quick Survey #13:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?
None for now. It's getting harder to predict market trends post covid, the market is so volatile RN it can go down anytime and eat your whole deposit.
I mean no disrespect, but you are wrong... Believe it or not, the market isn't as bad as some people have made it look... Only small and mid-caps seem to be stagnant others are making record profits... As a beginner investor who knows next to nothing, I have made over $30k profit in a few months... I was retrenched recently, and I am using these resources to keep body and soul together.
Hi ANTHONY, your profit margin is quite impressive for a beginner. Good for you!!!! can you share your spreadsheet or investing journal?? inadvertently, i sold a boatload of my portfolio recently.
I have never drawn up a spreadsheet or trading journal, it's of no relevance to me... I simply follow Kelly Matwick's investing instructions and guidance... You can look her up she's registered.
George is the best Ramsey personality! Love this show. It’s concise and funny.
Hats off to George’s incredible editor(s)!
Your humor and personality really shine through here, love it. Great video
I just had plastic surgery yesterday myself! Working on baby step 2 now. Here’s to no more debt!
After I paid off my mortgage. I had so much more freedom. Now am able to maxed my 401k, back doored roth IRA and auto investing 3k per month in brokerage.
When you invest, you're buying a day you don't have to work
Assets that can make you rich
Bitcoin
Stocks
Real estate
I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this
@@thomasdooley3702Same here, I wish I knew about this Bitcoin trading earlier, brace up and get yourself some Bitcoin before it's too late
Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company
Learn and trade under a guide I do same and I hardly make losses in the market
We are doing a similar thing, although we arent as extreme with being frugal and it will take years for us to pay off our house. A paid off house in 2 years would be like a dream come true.
Did it in about 10 years also. Congrats on the baby on the way.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Where do people live? The cost of living is so insane, even to rent. It’s sad
George, you are INSIDE MY BRAIN with these completely on-point references! Also- love you guys and all the new content!! New channel is great =D
Millionaires retire from my current industry after 30+ years and are miserable. It’s hard for me to comprehend starting anything Dave in my mid 30s.
Wow! Loved every second of my watch to the end. I could really use your help George, I’m 52 and disabled since 2007, still own a small business with $380K in savings. Already have a share in a rental property. But I'd still love to grow my investments ahead of my retirement. Can you help?
Just buy and hold Bitcoin. Alternatively, find reputable stocks with long-term growth potential and stick with them. However, it would be wise to just consult a market strategist.
I agree, having a market strategist for investing is genius! Over the past 7years, I’ve had a financial advsor consistently restructure and diversify my portfolio and I’ve made over $1.4 million in gains… might not be a lot but i'm financially secure and that's fine by me.
@josephbush Mind if I ask you to recommend this particular coach you using their service?
She goes by 'HEATHER LEE LARIONI'. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
Just want to say i love you and Dave Ramsey team. Thank you all for guidance, great advice and being real 🙏🏼
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The fact that you play music, are into cameras, AND had the scene hair, I like you more and more each video
Investing in a stock may look straightforward, but choosing the right stock without a proven technique can be difficult. I've been attempting to grow my $210,000 portfolio for a while, but the largest impediment is a lack of defined entry and exit strategy. Any input on this matter would be highly appreciated.
Some individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
That make a lot of sense; unlike us, you seem to have the market sorted out. Who's guiding you?
'Laurelyn Gross Pohlmeier' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Upon finding her full name through an internet search, I discovered her page and promptly sent an email to arrange a meeting for a conversation; I am currently waiting to hear back from her.
@@Angelinacortez495 Walmart, Lowe's, H Depot, Google, Microsoft, Chipotle, & Motorola all have solid 10 year track records. Some of the hotels have decent track records, but your solid Oak Trees are what's mentioned above. Yes, Nvidia looks amazing right now; however, their growth does not spam over a solid 10 years.
I love all the cutaways! You're flow is super entertaining while remaining intentional.
Entertaining and informative - well done George. Although I didn't do exactly 100% what you did, I have pretty much all my life "lived beneath my means" and saved/invested the difference. And I've never regretted it, love being out of debt, and having the ability to handle unexpected major bills (appliance breakdowns, car repairs, etc.) as inconveniences rather than disasters.
We live in challenging times if you follow the news, fin-mkts have become more volatile and government are ever more regulatory. I'm mostly in cash about $600k liquid, but considering stock market indexes at an all time high, do I buy stocks now, or contribute only to my 401k?
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Nicole Desiree Simon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
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.
I have no where near the money you have. I find it smart to put the money you can't afford to lose into safe conservative retirement investing. Put what you can afford to lose into riskier aggressive investments for much better returns
George…… you’re CRUSHING it!
Awesome video, I’m preparing to start my debt free journey and I can’t wait to get to millionaire status ❤
What do you need to prepare? Just do it! You will have no regrets. Blessings on your journey.
Go get it!! You won’t regret it🎉
You can do it!!
Great video. I can't say getting rid of credit cards is good advice though. Not having credit card debt is good advice, but you can have a credit card and not be in debt too. That's why your budget exists. If you stay within your budget, you won't have credit card debt. I haven't had paid interest on a credit card or had any debt outside of my home for the last 20 years.
YES! YES! YES! We put between $300.00 (from our 2022 Social Security raise) and $300.00 from a part-time job on our mortage principal!
What kind of income were you making to make this possible? I’ve had an above average income, living single and frugal, and it’s taken me 20 years.
Your clips and comedic timing are awesome. They literally make me put my food down and laugh out loud. Thank you!
I love the advice, I’m only 19 and I’m just about done paying off my truck, but I’m also in a situation where I’m worried about saving up to afford a home. I’m not married or have a dual income, and I make decent money for my age, but I’m worried that trying to invest and save for cars that I like, and saving for a down payment on a house is a lot of my money out the window. I want to enjoy my young life but I already feel as though it may pass as I’m trying to save for these things.
If I could give you some advice man forget the cars in the beginning while your young. I was in my 20s when I bought a Corvette and a 350z for my wife. It was the dumbest financial decision ever. A complete waste of money because cars like that you don’t keep and drive until the wheels fall off. Things also change in your life kids maybe your job is further away and gas kills you. Your main priority should be to save for the house down payment so you can avoid PMI and get the best rate/ payment you can. Once that happens start to save for a sports car if you really want it. But have a paid for practical car if you plan to do this. I sold those cars for a loss and bought cash cars from then on and never looked back. I now own a 2nd home in Hawaii that I travel to once a quarter with my family because I can afford to have 2 homes without a stupid car payment.
Same thing w me I been saving about 800-1000k for my 1200 paycheck I get leavin with my only 200bucks for 2 weeks, I have a gf n it’s hard tryin to have a life and save at my age, feel like everything I wanna do I can’t cuz I’m too worried about Savin
30-year-old you will come very fast. you will feel young but will regret the past if you have debt or if you have no savings. if you just save now all your income and learn new skills, that pay much more, you will be having much more fun as a millionaire, when most people will never be. have fun now for 10 years or have fun from 30 until the end of your life. your choice
Find the balance. You don't need to sacrifice everything to build wealth. Set up a responsible savings system by living below your means and enjoy the rest. Life is short
Use the baby steps
You're my favorite Ramsey personality!
"Aggressive is what it takes if you want to get out of debt quickly."
On and off flurries this way. Welcome back. Actually did a bit of closet decluttering this morning before I saw your video - inspired by you to go back later and do 10 more minutes with my accessories drawer! Thanks!
I thought this clip was going to be super awkward but the editing and punchlines were hilarious.😂😂😂 The brownie points, don’t estimate me, and doooooooo it were my favorite!
Congratulations! I wish I was Smart earlier but better late than never right! Lol
Yay George and Whitney! 🎉
This plan works for any age including the oldies 💪 😁 I love hearing so many young people doing the Ramsey plan like you. Very rewarding 👍👏
I’m 42 my wife left 3 years ago and I have been struggling ever since. I have my own business building puppets. But it’s not enough. I still haven’t found a good job yet. I’m trying my best to get one.
Great video George and team! We're on baby step 2. Thought we'd be consumer debt free by 2028 but now we're looking at 2024! We started in October 2022. 🎉🎉
I love how you and wife had the dog at your debt free scream 🥰. Thanks for your inspiring story
Absolutely amazing!! Kudos to you and your wife for living like no one else so later, you can live like no one else 🤘
Love your sense of humor and make it fun for us
Love this! I’d love to hear more about home ownership for those who are coming to financial freedom a bit older. I’m in my late 40s and will be on baby step 3 very soon but my partner rent (and we have a teenager). I’m in the UK and the housing market is crazy and wages are low… I can’t imagine being able to own
Absolutely understand. I’m in my late 40’s, single, no kids, and I rent.
I know this was awhile ago, but I hear you. Are you open to moving?
Reason I ask, is I had played Robert Kiyosaki’s cash flow board game. We were renting for ever, and I hated it (38F). I went looking for affordable real estate, but there was non in Canada where I lived (think Vancouver island)
After the game, I got inspired to look in Canada’s smallest province where real estate is affordable. I kid you not - we bought a house for $24,900. It was a 1980s house and needed some love, but my husband is a carpenter so we rolled up our sleeves and got to work 💪
Now our house is valued at $300,000! Can you find a place and put some sweat equity in it? Are you willing? We lived with no electricity or running water for a month, but we didn’t care because it was our own 🏡
George, this channel is my spirit animal!
LOL george! There will be room for my wife and my dogs LOL - so happy you got a youtube channel and keep the content coming!
George is funnier than I expected. Excellent info and refreshingly entertaining.
Great job George👏🏼👏🏼👏🏼
Would like to know your yearly income as opposed to just describing "side hustle"
This is great. Happy for them. And clearly took a lot of discipline. But let’s be honest the real key to this 10 years to millionaire story is the income they were making. In order to pay that mortgage off in that amount of time, they would be putting about $6500 per month toward the house with mortgage, taxes, insurance, etc. That’s more than most make in a month after taxes. So they’re making well into six figures to be able to do that and live with other bills.
I’m not hating, truly. I know a lot of people who make that kind of money but are up to their eyeballs in debt. I just wish the Ramsey crew would be a little more upfront sometimes with the fact that many times in order to work their plan, the first and best step is to find a way to make more money (not just little side hustles, although of course they help) You really have to make substantially more than the average American + have the discipline and wisdom George did to make this happen.
He mentions that in the clip. Dual income no kids.
I caught too. Makes it sound like anyone can be a millionaire in 10 years when a lot of us only make 40-50k and with the housing market the way it is it seems hopeless for young folks like me to buy a house!
My husband and I paid off our 1st house in 10 years. It's not double payment, it's extra principal only payment every month. There are online calculators to figure out how much extra. Ramsey solutions has one. After that house was paid off we got an equity loan to build a lake house and paid that off in 7 years. I was a teacher and my husband was a welder and we had 2 kids.
@@laurennguyen1008 That's fantastic (no sarcasm, seriously)! Very impressive. Do you mind me asking for some specifics: what was y'all's combined income? When was this (what years)?
The reason I ask is, like I said in my comment, my problem with the video is that George and the Ramsey crew often make it sound like all you have to do is just have financial discipline and you can be a millionaire (in this case in 10 years). When, in reality, it takes financial discipline *plus* a certain income level to have enough margin in the monthly budget to pay down the house quickly *while* investing 10-15% of your monthly income *while* staying out of debt by saving up ahead of time for a car/major household appliances, etc.
If I had to hazard a guess, I would say that you guys made at least $120,000 per year, and/or lived in a cheap part of the country, and did it before the pandemic spike in housing prices/interest rate/inflation, in order to do that. Is that correct? I'm not saying it was easy, or to take anything away from your accomplishment. Just adding some context to my critique of the video.
They are also dinks.
I was always a long-game visionary. People didn't get it. They saw me building a business that generated no profit while I built up patents, technology, capabilities, client base, and market value. I drove used beater cars (and still do). Then, just as planned, the back end started to kick-in on my plan. My wife retired at 40 and I'm right behind her. Now people are baffled and asking me how I did it. I made a plan and stuck to it.
Felicitaciones por tu contenido. Me encantaría que mi gente latina , pueda adquirir estos conocimientos en español …
Gracias George!
Heading there at $963K. That's with two mortgages (one house is a rental), one car loan and two small kids. We are in California where everything is expensive. Single income household.