I Became a Millionaire Now My Family Keeps Asking for Money
ฝัง
- เผยแพร่เมื่อ 27 ก.พ. 2024
- 💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
A guy on Reddit posted his uncle would post every once in a while to a group chat needing to borrow money. Nobody would answer him so one day he contacted his uncle concerned. His uncle then told him “I just post that every once in a while so nobody will ever ask me to borrow money”. lol.
Brilliant!
Omg that’s weird 😅 so much effort to do all that
Genius! 😂😂😂
😂😂😂
I read that also!
I pretend to be poor while they pretend to be rich 😂
😂😂
You hit the nail on the head. The problem with that is that good people try to pay for your meals at McDonalds. I’ve had it happen to me.
that is what i do
NEVER reveal your cards
stay on the DL and don't look for glory or the spot light, all you are doing is putting a target on you
@@TheRealEdStoner
I see what you're saying.
But I don't think it's a problem.
It's good for those people, who think you're poor, to bless you with dinner. It's good for them to be generous.
Of course, you're free to turn it down since you don't actually need it.
My point is that there's a reward to the giver.
There you goooooooo thank you 😂😂😂
Never tell friends and family you are a millionaire...thats first rule of being in the millionaire club.
No the first rule is find rich friends
What about your friends and family that are already in the club? 😉
Exactly...Wear normal clothes, no brands, no gold chains, don't spend money on stupid luxuries to show how rich you are. Invest in what you believe in, live a good and happy life, give money when it's really needed but act like it hurts, and never tell.
First rule of Millionaire Club: Don't talk about Millionaire Club.
They will know by the cars I drive and how many girlfriends I have.
Never tell anyone what you have.
@@metaltera86 tell them everything on loans and credit cards even the Lambo 😂
MikeNapoli1989: Truth in its purest sense 🙏
@@metaltera86: Rule no. 4 The truth is situational.
I’ve done well for myself, I prefer not to talk about money, that’s an inappropriate question……. All reasonable answers.
Fact! My wife is always asking me what my year end bonus is---so annoying....
I have a wealthy friend. Known him for 25 years. I was telling him a story about a surprise multi-thousand dollar expense I had just paid. I got half-way into the story and he froze like a deer in the headlights. He relaxed again 30 seconds later when I finished the story and told him I had easily paid it off with my emergency fund. I could see that he feared I was going to ask him for money. He must have been asked many times before.
You are a great friend that actually has social and emotional understanding. Your wealthy friend is lucky to have someone like you who appreciates their friendship for who they actually are instead of how much money they have.
@@Certid That's a really nice comment. Thank you. You made my day. Wishing you the best.
if a time ever came when you actually need help, that friend will find a way to give it without making you feel uncomfortable. it sounds like he will never have to but you guys have become closer than you can imagine.
Happens to me a lot. I don't have to have a lot. I'm asked for money. It's a trigger.
You probably were about to but pulled off after noticing his expression tbh 😂😂😂
Broke to $4M in 6 years is damn impressive. Wished they’d gotten a quick breakdown on where he went right.
Probably Bitcoin!!!
You won't, because its probably BS.
@@TheBargainBoxer Possible but he also made it sound like he was following Dave's teachings religiously so idk lol
Yeah, I think he is full of BS. Either this is fake or he is doing something illegal.
@@matthewphillips5483 Probably both….
I got divorced in 1990. I called my rich brother and asked him for $2k to help me get an apartment. He said no. As I hanged up the phone I realized it’s now
Sink or swim. Now I’m doing great.
I saw my brother at a family get together years later and thanked him for making me grow up
I had to teach myself this phrase..."If the bank won't loan you money, Why should I?"
As someone who made the mistake of lending to friends and is now out several thousand dollars, that's a great saying. I had to learn the hard way, but luckily it was a lesson earned early in life with a relatively small sum of money, and not later in life with tens or hundreds of thousands, god forbid more
I remember a coworker wanted to "borrow" some money. I said no, he asked why, I said you are not a good credit risk. He protested that he was. I said "will the bank loan you the money, he said no, and I said, "then you are not a good credit risk. He didn't agree, but the bottom line was, he wasn't getting any money from me.
Or "I would never let your kids go hungry."
'hey Larry Foster - good one - I"m going to use it as my own 😆
Make A contract heck a better one than the bank but make it Legal!!
Wealth is quiet. Rich is loud. Poor is flashy.
I am just about to hit 1 million in my brokerage account @ 39 and no one has a clue. Still driving a 96 Civic I inherited from my aunt.
Excellent. And that million dollars will double in no time flat due to compounding.
Thanks for sharing i will not be getting a car note, I will purchase my car cash
Welcome to the club
That is absolutely fantastic! Congratulations!
those little civics are pretty good
I remember when I retired early a coworker insinuated that I was retiring because I had millions. I laughed and asked her if she had one of those huge flatscreen TVs that at the time were about $750. She said of course she did and I replied that my tv cost $5.00 from a yardsale and that’s why I could retire.
💯
Thank God I am like this too! I cannot understand paying $2k for a phone or a TV when you can buy an equally good phone for $500...new, and I don't care about TVs my current one was a gift from a family member who had another one. Keep your finances to yourself where family is concerned, give if you can but don't advertise your financial position to people who will use you as a bank and become a "waiter".
Smart. I retired at 60. I make
$48k pension. I don’t own a car.
Or TV. I have $0 debt. House paid off.
The really sad part is, when you say that to someone like her, they almost always think you mean the t.v. Is the reason they’re broke. Just like the people who buy star bucks coffee every morning. It’s not that one coffee, it’s just one part of a bigger picture. The accumulated excess spending.
@@Aubatron exactly! Another story that comes to mind is when a coworker brought me a beautiful ceramic dog bowl and asked if I wanted it. My first response was “Oh no did your dog die?”. She laughed and said “let me guess, your dog has the same bowl his entire life!”. I said well actually I have the same bowl from my 3 prior dogs that all died of old age.
Last year I paid out the mortgage and I told nobody. A happiness that can’t be shared because people will start to do plans with my “extra” $1,500 mo.
Yes! When we paid off our house, I kept my mouth shut while my husband told everyone. Grrr.
I told my sister because she, too, had paid off her mortgage. I know other family members haven't a clue and that is fine by me.
Same here! We did not tell our kids only my parents and sister know because they have paid off houses as well. No one’s business!
Exactly.
you can share it here. Congrats!!!
This is why I keep my finances to MYSELF!
It depends on your family dynamics. In our family , me , my brother and mom are very close knit as we're such a small family, so money is not an issue. We're happy to help each other.
@@lucialuciferion6720your the exception and very lucky. People are wild out here and a good chunk of us folks gotta move in silence
Smart!!
Ikr! Even the people you thought was doing well financially would start asking for loans (with no intention of repayment) once you let slip that your bank account is "nice".
I've tried to stress that to my husband. We don't need to sound like we are bragging. Humility is a beautiful thing. Nor do we need people to think we are an ATM.
I feel this guy's pain. My wife and I are pretty well off and her brother is a piece of human waste and thinks he's entitled to our money. He started doing the whole guilt trip thing with my wife. I intervined and I told him that we have zero financial obligation towards him and that he won't see a cent from us. He hasn't spoken to us in three months. It's been the best three months my wife and I have had in a long time.
I have a brother who decided that the money that my mother left me in a will somehow needed to be split with him. He pretty much ignored her for 15/20 years. When I wasn’t going to do that he cut me off. I am not the least bit upset about it. It just tells me what kind of a person he is.
Well done 👍🏻
The audacity of him
Isn’t the point of money to help our family? Shouldn’t he want to help his parents or give back?
@@tharris2853it should be up to the person with said money to help in need when they see fit, but have a strong boundary and say “no” when needed. It sounds like most family members abuse it and blatantly ask for money for frivolous wants when it rains or shines and feels like they’re owed the money when they’re not. The attitude and cold shoulder they give back as a response proves how immature they are.
Don't let anyone guilt you out of your money. You EARNED it!
Facts
Their lack of foresight, self-control, planning and maturity doesn't oblige you to give them money.
Also, we have a saying in my language that there's no point in pouring water into a bucket that has a hole in it. The reason that they don't have money is because they have no money skills, which makes them the worst type of people to give money to. You can rest assured that any money you would have given them would have been spent on mind-bogglingly stupid things. Even if you pay for something that's actually a "need" for them, like groceries, that will only free up some of their own money that they will probably waste. If they make more than a basic living wage, and not putting anything aside, they're already wasting all of the excess.
My great-aunt just inherited a flat, she's sold it (at a terrible price), because she "needed the money to live". She didn't "need" it before the inheritence, she was getting along just fine. She's just an alcoholic. There's absolutely no amount of money that can pull stupid people out of poverty.
I am 54 and my net worth is about 1.6 mil. This is not all in cash , but mutual funds, stocks, home ownership, land, cash. I am 1 of 8 siblings. I will never let any of them know what my worth is.
What would Jesus do?
Unless they see it here
@@Imonthecomputer Jesus would not waste time trying to start shit in online forums
@@Jane5720 Yeah, they will definitely find out their bro who anonymously calls himself "black hawk" is a millionaire.
That's nothing special. My parents are the same age worth double that.
The family made fun of him for walking the path he walked. Now they want the benefits of that path without walking it themselves, and they can't even bring themselves to admit that they were wrong.
👍🏾
Wealth is what happens as you walk the path. If you just give someone money and they have not walked the path .... it doesn't end well. It is about the knowledge that you learn while walking the path.
Never ever tell family you are a millionaire that’s the worst thing you can do. When you have money. Family will be your worst enemies.
Not if everyone in your family is a millionaire 😏
We're paying off our mortgage in a couple of years and we'll be 100% debt free and our family and friends aren't gonna know about it. 🤐
Never tell family how much you make!
Depends on your family. My parents and siblings are all good with money. None of them are looking for charity.
@Joenzinator The same with my family, and yet I still don't feel the need to tell them how much we make, and I honestly don't care to know how much they make.
@@familyof5 Yeah we don't share numbers, but I find ways to let me parents know we are doing well so they don't worry about us.
Blood is thicker than water, but not thicker than gold.
@@Joenzinator gotcha!
Our best friends are multimillionaires (tens of millions) and we are paying off our mortgage at 59 & 62 years old - we are friends because we don’t expect anything other than friendship. I would actually be insulted if they tried to pay when we went out to dinner! Really says a lot about their character.
Do you pay for them? Just something to think about.
@@micahwatson9017 not sure I’m following you, but we keep money out of our friendship. We each pay our own way when we go to dinner, concerts etc. We often go for walks, hikes, have each other over to dinner, back yard bbqs etc. They live modestly and don’t flaunt their wealth. We very much appreciate that, or it would get weird feeling like we would have to reciprocate and can’t afford to on the same level. My point is, why on earth does anyone feel just because they know or are related to someone with wealth that they deserve their money? Especially when they aren’t managing their own money. That’s lack of character.
Your character traits are rare (and result from your mindset or mental framework). Consequently the person you and your wife are is REFLECTED in who you attract (and are attracted to).
We did not choose our family but we definitely choose our friends
Stay Hungry.
I was thinking about that. I don't have much (no debt, but little income at 71 yo) but I have my dignity. I wouldn't want people to pay if we go out to eat. (Except my kids-- they do like to their old mom at a nice restaurant!)
Why do you know about their money if you keep money out of the friendship?
My family is clueless on my net worth, and that is on purpose! I have always been able to throw them off the scent because I drove an old crappy car forever, but Im sure they are starting put the pieces together, since i stopped working at 45. They are baffled by that.
LOL
His family's true colors surfaced. A caring, loving family would be happy for his success and ask for nothing extra. He needs to find new people to associate with, because these family members will attempt to drag him down with them.
He needs to find other people with money so he doesn’t have to pay for everyone’s dinner.
@@jwebby85He needs to find people with a healthy sense of integrity and shame. I know plenty of people who would never act or ask for things like that. They would be ashamed of themselves to act so entitled.
And he even offered to help them learn how to manage their finances and attend Dave's financial school!! Learning financial smarts is far better than being given money because they'd only waste it. He sounds like a good guy, and his family just want to take advantage of him. Sad.
@@deborahblackvideoediting8697 Absolutely! The family members seems to invest more energy in complaining and begging than they do in financial success.
@@deborahblackvideoediting8697 Yeah i was thinking how crazy it was he was willing to show them the exact path he took. I'm sure him and his wife did it mostly blind without someone to guide them directly, so to have people who managed to make that work, be willing to help you - could you imagine the family's turn around if even half of them would follow the same path.
There is a child’s book called “Little RED Hen”. Everyone wants the fruits of the work but nobody wants to do the work. I don’t have time for people like that anymore.
A Little Golden Book.
Always loved that book
I grew up with that book 😊❤🎉
Here here!!
“‘Not I,’ said the cat.”
First mistake he made was telling them he’s a millionaire
Bragging can be costly!
@mhodge0890 agreed...however that does not excuse them from thinking he is the local bank......he offered the way to financial success but apparently they just want to use his money not their own.....
@@susanedghill609 agree! But I am thinking they DON'T even have money of their own because that's how it usually works... one person puts the effort while the others are just making fun and not making their own money. I was once told by a broke family member that I live in a bubble with my Corporate job and no street smarts. Last time I checked I had no debt no evictions and was being ask for help LOL
@@scalas01 you are not wrong.........sounds like you know how to manage your $$$ well....
I can understand his plight though, if I made great success and my parents are struggling I’d want to share my knowledge, he shouldn’t have put his income into the equation though.
The last person who tried to tap me for cash was someone who hadn't taken any of the investing advice I had given him over the previous ten years.
Bingo - that's exactly the people who pitch up wanting a hand-out - those who diss your advice and blow you off as a nobody! Interesting how that works.
I hope you told them where to go with that request
Your Advice can be the best but some people think they are smarter and other peoples way cant work..
You can’t tell people what you have, ESPECIALLY family. They come out of the woodwork and start asking for handouts.
Oh yes you can. Then NO is the answer. We tell people how we’re doing when they ask and we say LOL no when they ask. We give to those who genuinely need it not the ones that are lazy and capable
how did he go from broke to 4 million
@@aarondavid5866That's what I want to know lol
Easy… sending it without investing
@@1KingMajin hes like i went to the library. More like school of drugs? Lol
During the pandemic, i was out of work on unemployment and watched a ton of Dave Ramsey. Today i am out of debt besides my house, got money in the bank and my family even picked up a second house before the rates jumped.
I don't agree with Dave on everything, but his strategy absolutely works. No debt and controlling your spending is the way.
it's crazy how money changes the family (and friend) dynamic
The money itself doesn't change the dynamic, but it reveals who people really are.
@@cyborgbear7269 you said it!
It didn’t change them it Exposes
Im taking notes for when I become a multi millionaire. Don’t tell family including your own children.
Reminds me of Shaq's line when one of his children said "we're rich". "WE'RE not rich. I'M rich."
Exactly. We only make $57k/year gross, with a max earring potential of $70k, yet are doing so much better than other families who have two incomes and make over $100k. Don’t tell them. I’ll discuss online, but IRL no one wants to actually learn how to manage their money.
It’s happened to me. It was when I was about 50 but I didn’t know I was doing so much better. I never said exactly how much it was but implied I was thinking about retirement. Wrong thing to say. I was generous at Christmas but that was it. I felt bad but now I wish I had been more honest. “ It’s invested, I don’t have immediate access to it” I worked 60 hour weeks, I didn’t spend money stupidly. I EARNED it. Nobody handed me anything. I inherited nothing.
Why does everyone imply that if you inherited money that somehow means you don’t deserve it or should give it away? It’s still yours not theirs and whatever belongs to you you should be entitled to keep
It is NOT that you do not deserve it. Or that you should give it away. HOWEVER, when we are self made, we worked the long weeks, earned the titles, took extra time to learn the skills, obtain degrees, etc. We are on a different level than you are. @@lesliesmith7312
@@lesliesmith7312I think society as a whole thinks inherited money is cheating. Or it could be straight jealousy from broke people with no inheritance.
You're right. There's nothing wrong with inheriting money. @@lesliesmith7312
People get weird when you have money
Facts...all our friends and family are simply jealous now.
I find it annoying. I talk about a frivolous purchase because it was $400 and I just paid for it with a debit card. Or I can't come back from vacation excited and positive because I don't have to struggle with credit cards after the trip.
@@cblue3581 start cultivating new friends. The sad reality is how we act is a RESULT of how we think. You have actually been a “different person” from your friends and family for a long time. Because of the mindset that made you wealthy. But NOW they can SEE the manifestation of that different mindset. Stay Hungry and share your philosophy with a younger receptive “family”.
Yes tf they do
It’s not his job to finance his family members lives. He became a millionaire, changed his family tree and secured his wife’s and kids future, that was his job as a father and husband. That’s it.
What are your thoughts on Dave Ramsey’s philosophy “live like no one lives so you can give like no one gives”.?
It seems like every time someone calls in about friends/family asking for money, the advice is always no.
@@fightsportspace7327
Well giving is optional, but should not be expected.
You dont want to give up too much because then you have nothing.
@@fightsportspace7327it’s one thing to help if you see someone struggling but as soon as someone feels entitled to a piece of what you busted your ass for it’s not helping them at all, there gonna piss anything you give them away and then come back begging for more
@@fightsportspace7327You’re not supposed to enable people, you’re supposed to help them become rich like you.
I learned years ago that being greedy has absolutely nothing to do with how much money you have.
What a great line "stop the whining and start the working"
When my son started a tech business I suggested some in the family help him out with a loan.
His answer was I do not want anyone investing in my business who does not understand my business.
He explained going to professional investment capital groups was a way to help get his business plan right.
Basically he was using the investment capital groups as free consultants.
His business did OK so when another business wanted to hire his entire team he had them buy the business.
So his business is dead but they all got a good signing bonus.
I am very proud of him for not taking family loans.
His business isn't "dead," he sold it! So he did well!
Sounds like he was corporate take over’d
My wife's family and my family all knew we were doing well. We both grew up in abject poverty, so really anything close to the American dream was a lot more than they had.
Once we bought our 2nd house, the gig was up. The families started asking how we could afford that with already having a house and 2 cars and a boat and motorcycles. Told them because we actually own those things, no loans. Then the asks for money started. I had no emotions about telling them No, but I'll tell them how to do it. None of them were interested in hearing it. But at least that initial No stopped all the asking.
I’m interested in learning how to do it😃 if you don’t mind?
@val6189 It's several long conversations, but the crux of it is that becoming a millionaire isn't an earnings issue, it's a spending issue. 90% of all millionaires didn't have or start with enough money to become millionaires, but they do all have 2 things in common. They save for investing, usually thru a 401(k), and they pay off their house. And the only way to do those 2 things is to control your spending. And the vast majority of people are unwilling or incapable of doing that. I'm not saying you have to live like a pauper and run your used paper plates thru the dishwasher, but things like buying too much house, not paying cash for a car (if you have to finance a car you can't afford the car), getting a student loan for a non-STEM field, eating out all the time, subscription services, not properly utilizing credit cards, and a myriad of other things.
It's a whole discipline around spending. And once the house is paid off, and a decent savings has been built up, then the old adage "it takes money to make money" kicks in. Your investments start getting bigger faster. You can open up other revenue streams with real estate and rental properties, or other investment types.
Fact is, most millionaires don't look like millionaires. We still drive an 09' F150 and a 15' Honda Accord. We live in a 2k sq/ft single story house in the middle of the middle-class burbs across the street from an elementary school. And we travel around the world 1st class whenever we want, retired at 50 years old. But that's our thing. Your interest may vary.
@@AnAZPatriot Thank you!
*The decisions we make in life can have a huge impact on our finances. It's not just about when you start, but what you achieve in the end that really counts. While TH-cam is great, having a mentor helps you understand better.*
To gain wealth and be financially independent, I will say to save, invest and always put your finances in good care to ensure that your income rises. Remember that making money is action, keeping money is behavior but growing money is knowledge.
And seeking guidance from a CFP can lead to financial success. Personally, with the help of my CFP, I've been involved in lucrative projects and have accumulated a significant sum. In 2024, seeking help is definitely the right approach for wealth accumulation and management.
I have been in search for ways to make my money work hard for me. Unfortunately, I've experienced several failed attempts, which made me lose hope. However, reading your comment has truly reignited the fire within me, and I feel incredibly grateful. If you don't mind, how can I contact your Coach ?
Sear ch the names as shown if you care.
*DONALD NATHAN SCOTT.*
Boundaries are extremely important, you have to distance yourself and cut out people who do not have respect and the best intentions with you.
@Dansyoung 👍
"Entitlement Runs Away From Work" great quote!
I feel bad for the guy. One stress gone and a new one started by family.
Only if he lets it!
Tell them to loose your number.
We don’t choose our family. But we choose our friends. It is nice to KNOW those who will be an emotional and financial burden early and distance yourself. For your own good, peace of mind and sanity. An important @7:47 lesson.
Mo money, mo problems.
I wish I had someone like this in my family. I’d be in his ear every other day on advice
My in laws are millionaires but my husband and I would never beg for money. We are making out own way! Never let anyone know how much you have!
Your character is revealed in your actions. His family have @9:08 revealed their character
He should tell them, “you know how I became a millionaire? By not helping people like you.” Don’t sugar coat for their feelings, make a clear boundary.
Great comment. Thanks for giving my my first laugh of today.
When family or so called friends call me after not contacting me for years i know whats coming. They always ask for money but i always hit them with this line "I was just about to call you for the same thing" works everytime 😂😂😂
My husband and i will be debt free in a bout 2 years. When we do i wanna scream it to the world but i know itll do more harm then good. So well just keep it to ourselves and celebrate it with ourselves
Nah. Just be strong and say NO. You’ll find out real quick who your real people are
We are in the same path! Our house will be paid off in December 2026. Today I just paid an extra $1400.00 towards the principal. Yes, I would’ve loved to use some of that money for something else but I know I’m working towards a goal. My husband just retired so he definitely wants the house paid off.
I’ll tell my parents and my best friend and that’s about it.
No one, even family, should be asking about your finances or bills, mortgages, etc.
My narcissistic mother is obsessed with other people's finances and an expert at asking cute questions (if the explicit ones don't work) to get information. It drives her nuts that I tell her nothing. She lies and gossips with other family members about what my finances supposedly are, and I just ignore her.
He needs to Grey Rock or, if it gets bad enough, to go no contact with these people. They'll lie that he's selfish, "changed because of money," and other bull excrement, but who cares.
If someone asks you a financial question, say, “Why do you want to know that?” Then watch them quickly change the subject.
“When someone shows you who they are believe em the first time”
TRUEST THING IVE EVER HEARD YOU SAY! PREACH KAMEL!
That’s a very famous quote from poet Maya Angelou
My mother is by no means wealthy, but at 83 she is comfortable. She grew up dirt poor with parents who were incredibly irresponsible with money, yet my mother had a very keen sense of finances. Even though she never made much money, she was very responsible with it. Anyhow, my younger sister is the type of person who takes and takes and takes. She is always asking for money and things it's owed to her! So...my mom (who is normally very honest), outright lied to my sister and told her she has a big mortgage on her condo and she's barely scraping by. It's sad that sometimes people have to lie to their own family, but it's for the best in most cases!
Nothing destroys family more than MONEY!
Never divulge your finances or holdings to family. Give once and they will never let up on the begging. Say it's all invested and you have no access to it.
I'm not going to fib to them - I'll just tell them no
Same our families no we're doing well but also don't ask for handouts.@@ryand7713
Most people don't know the difference between liquid assets and your networth. You aren't clearing up why you aren't helping if they have no financial knowledge.
I don’t have millions yet but I’ve done pretty well, especially the last few years and my net worth is adding up quickly. I’m single and my extended family knows I’m doing well. They celebrate it with me and have never, nor would ever, ask me for money. I’m grateful to have family members who have character. Can’t imagine being in this guy’s shoes. Every Christmas, I splurge a bit and take my parents and my brother’s family on a short trip. I pay for the lodging and buy everyone a very nice meal out at a semi-fancy restaurant and that’s my Christmas gift to them. We make great memories and no one seems to feel entitled to my success. That’s one reason I keep doing it.
Jealousy is a very ugly emotion.
Its actually really hard having money when everyone you know is broke. You really need to find rich friends.
Facts, Law Of Attraction. When we are broke, we tend to be around broke individuals. However, when we finally get rich then we will need to be around rich individuals and those broke individuals you once know will do two things. 1) Respect and support the rich path you are on or 2) Envy/Jealous of your fortune and try to leech off of you while they are resenting you in the process lol.
Problem is rich people aren’t exactly known for being friends with people from lower social classes.
@@15KHPCLUBproblem is people of lower class want to leech
@@michael96701 only leeches I’m seeing are Blackrock and Invitation Homes.
@@michael96701 Only leeches I see are Blackrock and Invitation Homes.
Yeah he sets the boundaries and they have to understand that. If they cross it again completely detach yourself away from them. They are not entitled to his money.
Broke to $4M in 6 years? He says wrote down a list of books he read, etc. that could help others. But... that's an average gain of $650K per year _after_ taxes and expenses. He's _not_ telling us everything.
Exactly!
@@DustinRGreen-ww4og That's what I was thinking. 🧐
This was a super refreshing clip to hear someone set firm boundaries.
I make more than my friends and most of my family. I know when either my friend or my brother needs money I’m the first person they always ask it’s frustrating because I know they have spending habits and I always say no. I like to keep my income private because of it. They bash me because I drive a luxury car because I love to motivate myself and build my life while they are negative all the time and whining because they can’t travel and go places because they have no money. I think it’s time to move on and keep to myself cut those people out of my life.
Don’t hang out with people who bash you. You can find way better friends than that ❤
“Stopped whining and started working”, perfect.
Don’t tell people about the money you make, earn, or are rewarded with. This should only be between you and your spouse. Even children shouldn’t know. Maybe a trusted parent, but that’s if.
Money doesn’t change people. Some people have always been greedy. They just haven’t shown you who you are 😢
My dad was never financially secure but generous with what he had even as a hobo. He never saved for the future and now lives on a low SS. His constant need for a handout disturbs me. He refuses to talk about a plan or work a light weight part time. He keeps playing that lotto and tries to get trip. Its unattractive so i limited our communication.
I think there Is more to this story. If he was generous before even though he didn't save for retirement and had a low income I think you as his child you can help him. He will need help on ss. Can he really work? Does he have any disabilities that limit him? Are there any siblings other than you? I am sure complaining is a put off and maybe that's why you feel the way you do. You can put boundaries for his complaining and still help him to help himself .
First rule of millionaire club, don't talk about being a millionaire.
Second rule of millionaire club, don't talk about being a millionaire.
Third rule of millionaire club, don't talk about being a millionaire.
I paid my house off and started maxing out our roths and 401k friends always complaining about money issues i offered advice on how to help them and they just get pissed at me
Yup! That's precisely the same mentality that wants that hand-out because you owe it to them!!!!
@@kevinrtres everyone i know thinks ramsey is a idiot lol only on one thing that starter emergency fund gotta change to 5000$
I try to help ppl by dropping a little knowledge and ppl don't want to hear it. I told my dad years ago to start putting money into a Roth, he didn't, fast forward to retirement and his financial advisor told them he should have been maxing out his Roth IRA. Now he listens when he sees the tax bill.
@@jasonleatherwood2172 Yes, the "idiot" that went bust and recovered and now has lots of millions....people just do what they want - as long as they can blame someone else for the consequences...
Yep. One guy at work used to laugh at me for bringing my lunch to work. He nicknamed me pickle sandwich or Dave Ramsey. When my 401k balance crossed a significant milestone I showed him. Needless to say his arrogance evaporated. Stay Hungry
Dear reader,
If anyone tries to make you feel guilty or bad about anything just know they were sent by the devil.. rebuke them
In the black community, this is called paying the “black tax.” Often we end up being shamed into helping our parents and siblings more than ourselves or our children. Help if it doesn’t hurt your bottom line but saying no is still the greatest weapon/boundary you still have at your disposal.
So true. I know so many black people who are going broke because they are take care of their parents and siblings. So they can’t save for retirement. The same goes on in the Hispanic community too.
@@t.alexdawson118 it’s so insidious… The younger generation feels pressure to help the elder generation, therefore preventing generational wealth being built. And the cycle continues.
I've witnessed this as well with one of my friends where she was/is paying into her moms house well into adulthood. That said, there's massive support in the family too. One of their cousins that had fallen on hard times was given a room for over a year rent-free.
The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in Gold, Silver and digital currencies (BTC,ETH...)
I will say Bitcoin is still pumping everyday and I also believe Bitcoin is the future
I agree, Remember that investing in crypto market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
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?
Debra Ella Nicholas 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.
Rewrote my will. Attorney told me emphatically not to tell anyone. I ignored him. Told my one remaining sister.
Now she's mad I won't give her my house (family farm I inherited) *now*.
Lol what's the point hiring an attorney if you are not going to listen to him.
@@jayo3074Exactly.
Did you inherit that farm instead of her at the time? Because then I can understand the resentment a little bit. But yeah, attorneys have seen it all.
@@eleo_b Inheritance. Farm in Michigan. Other two sisters in California. I had just been forced into disability retirement; Mom left me the house and farm. I won't give you the long list, but I spent over $150,000 on repair and maintenance.
Rachel touched on a good point .. sometimes you feel bad that you're more successful than your friends or relatives ..
What? When? I made different choices than they did. Drove my Toyota for 27 years. I don't feel bad at all. 😕
Dad always told me. Be careful the choices you make. Because they will Make You…. Nevertheless, I understand what you mean. People who routinely make different choices drift apart as a result of those choices. It happens among siblings
@@michelejohnson6459 Well, it's something called empathy. When you have a close relationship with someone, you can feel bad that things turned out better for you than they did for them because you like them. You can feel it even if they made some choices that made their situation worse. Especially since some choices are made in a bad situation and then haunt you for years after. I have made mistakes and through work and sheer luck have been able to rectify them. But not all of my friends have had luck on their side. My friend is incredibly hardworking but she's an only child who basically raised herself and I have siblings and a ton of family who are competent human beings. If I ever needed help whether financial or an emergency place to live I am absolutely fine. She'd be totally screwed. That's not her fault. I won that specific "lottery".
We lost relationships with my husbands family due to our financial success. The jealousy was very obvious and it became hateful.
The older I get I have learned family is not always blood.
@@jmf1976jmf 1000%!
Tell them that one of your bussines went bust and you need a tiny little small loan that you will pay as soon as possible, enjoy the silence.
That was genius
Nah, be the better person - be assertive instead of copping out with lies.
I actually did this with my parents. Not because they were asking me for money, but because I was without work for 6 months and I ran out of liquidity. I had money, but it would mean pulling it out of investments that I really didn't want to touch. My ask was just $10,000 (essentially, 3 months of expenses). My father didn't blink and I had the money. One month later, I had a job. Using the job as a cash flow device, I paid them back and had it all repaid in just 8 months. That's when I decided that 6 months of liquidity to cover expenses wasn't enough and I doubled it.
@@kevinrtres "Be the better person" is the battle cry of people who refuse to better themselves, my answer is complex, sophisticated and yet the best possible "NO".
@@cesaravegah3787 That's being assertive...!
I will never understand feeling like you can just hold your hand out towards someone just because they have more money than you’ve decided they need.
Half this country has no problem with that, unfortunately
Democrats will hate u
Exactly!
Having said that… you got a dollar?
@@woodside4life only if you vote blue
That’s my issue with the “tax the rich” crowd.
Tell them nope. The bank is closed.
Say No. Then put insanely blunt criteria that will qualify them to get help.
1. Write down a budget
2. Write down a their list of debts
3. Give them 2 personal finance books to read
Tell them. You know they are serious about (whatever their financial request is).
Tell them you know some other people are not. But by doing the 10 things out lined they prove that they qualify. 😊😊😊
I’m aware of a couple of my sisters who are very wealthy and I’ve never once expected them to pay for one thing for me. That is disgusting!
Money changes people, especially family. It's sad how success can bring out the worst in those closest to you.
It doesn't change them it makes them more of what already were
It doesn’t change everyone.
It exposes who they already were.
If you want to see who someone is, give him a pile of money. His true nature will reveal itself.
@@taylamayde I think OP meant YOUR success can bring out the worst in people who are closest to you.
I have the same issue. I worked all my life and hubby was a disabled Vietnam veteran. Some of his family would comment that it must be nice to be rich(we're not rich). He passed in 2020 and I live very comfortable. No debt except my mortgage. We always lived beneath our means.
Sorry for your loss. My wife had a co-worker that was like that. I finally worked up the courage shut her up. She drove newer cars than we did. But was living paycheck to paycheck. So I said
“Being frugal works” or “working overtime for 30 years made us rich”. 😊😊. I sounded arrogant but it was true. Sometimes some folks need to be told the BLUNT TRUTH. Becoming RICH is a culmination of choices
Sometimes it is best to walk away from family.
Becoming successful eliminates a lot of challenges…and creates others.
Do you know what the least useful thing you can do is? Telling people that you have a lot of money. This is always a bad idea. In the best case, it makes them feel bad about themselves. In the typical case, they will look at you differently and form uncomfortable expectations. In the bad case, they will resent you or allow the disparity to damage the relationship. In the worst case, they will attempt to get some of your money. Just keep your finances to yourself. People will sense that you are financially ok, but they will ascribe some level that they are comfortable with and not over focus on it.
💯👍🏾👍🏾👍🏾
Agree don’t pay for them just be they ask. You are also doing good telling them how you did it and offering to pay for finance peace.
Keep up the good work.
What always makes me sad is even when you give them the information on a platter, they don’t want to do the work. I did my work and got out of debt. If they aren’t willing to do the work for themselves, it is not my responsibility to fix it for them. Not sorry for the No. People don’t want to sacrifice for a short season to be able to become debt free. It’s worth it!
Wait until that “short season” becomes a lifetime then let’s see how you feel then.
And this is why I keep the amount of money I make to myself. No one else knows but me and God.
It's pretty easy. You say "No," put their name on the whiteboard in your office, put a tally mark next to their name every time you have to say "No."
Lol! 😂 Perfect.
😂🤣😂
This is the worst part about becoming a millionaire, you can’t tell anybody. Especially co-workers.
That would be the worst part if the point of having money was to announce it to people.
But I believe the point is not telling, the point is to have more freedom and options, and that does not require telling people.
@@midkort 👍
I've had this problem awhile now. I've always been very stealth with the wealth, but my family is smart enough and can do the math. Average cars, average house for the area, I don't wear labels or drip...and I'm still getting the little comments like "oh, that's easy for YOU to say with YOUR options", or "you don't have any REAL problems, come on". Palpable resentment.
Same thing happened to us. As soon as we got a little bit of savings, spouse’s family wanted “loans” to buy a couple of properties, which also almost wiped out our savings. Haven’t seen a penny back, in decades. The sad thing is these transactions happened behind my back. Hurts every single day. I applaud the caller for standing ground.
Classic story of the hen and the bread. They didn't help him grow the wheat, cut the wheat, or knead the dough, but now they want that bread
This is simple. Either do not tell people you have the money. Or make up something about you not having any access to it. That's if you want to be nice. I just tell people idgaf.
Never tell anyone your finances!!!!!!!!
This video came right on time for me and my family. Totally needed to hear this advice. We keep changing our phone numbers, and lo and behold - more family asking for money. Smh
Why did you give them financial details?? You need to keep that quiet!!
Na, tell them all. Sit back and watch the entertainment that follows.
Sometimes they ask cute questions to suss out info. Apparently they found out with this caller because he admitted he didn't have a mortgage on the property. Should just say "financial stuff stays private" and leave it at that.
@@tenningale I have more problems with childhood friends. But this is why I like meeting people at restaurants. I'll buy your food, then we can both leave
"Entitlement runs far away from work!" My new favourite quote!
I would like so much to hear Dave respond to this.
"Entitlement runs far away from work." Words of wisdom.
Yes. He has tried to help them with books and advice 😊😊😊. But they don’t want to change and grow like he did.
I believe it was Larry Burkett that used to say, "Money is relative. More money, more relatives."
In the gym this morning, a young man was bragging about how he had a high credit score and owns a million dollar property, ect. And it's all leveraged debt. I just shook my head. I have peace in my life with no debt.
You should've told him about Dave.
Most families have at least one leech who buys stuff they can’t afford and expects you to pay for it. They usually have a sob story and can’t pay the electric bill or credit card bill.
My parents lived on one income. My father retired in 2018 and the highest his annual income ever got was $32k/year gross. And people love to say things like “it’s different now”. No, it’s really not. Inflation and the economy are always ebbing and flowing. And in the 80’s interest rates on mortgages were outrageous. My parents made even less in the 80’s. Their best friends (met not though work, but through camping) were all very well off. One family were millionaires, even back in the 80’s. My parents never treated them like cash cows, which is why the friendships continued. My grandfather taught my father “it’s not what you make, it’s what you spend”. Now my family lives off of one income, after a decade in the field my husband makes $57k/year, and the max earning potential is $70k. We are doing better than people who make almost 3x as much. I really hope this guy is able to put up solid boundaries, because if his family continues, they won’t be family anymore.
lmao. You're delusional.
The people that say these things love their things more than their families.
it reallly is different now, but please do continue to live in your delusional bubble.
@@apersonontheinternet8006 the people that feel entitled to the money of family members... just want money and don’t love their family.
@@thispersonrighthere9024 I will. Because we are going to be actually OWNING our own home within a few years, instead of renting it from the bank for 30 years. And we’re doing it making less than most Americans. But you do you.
To go from broke to 4 million in 6 years is crazyyy. My man must’ve started a super successful business or something.
4 million is not a lot. My family wouldn’t change if i had just 4 million. Maybe 400 million. 4 million isn’t enough to share. That’s enough to get by with a decent life in retirement.
I would ask them, “am i supposed to sell my house to give you money? Sell my investments?” Then i would explain to them that i have a high net worth, but very little cash. Money is locked into long term investments. This is the mistake he is making. He needs to explain that he isn’t rolling around in cash.