7 Steps That Can Make You a Millionaire in 12 Years!
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- čas přidán 1. 06. 2024
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Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $500K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Rachel Sarah Parrish 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.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Early 40's I was worth nothing. Now early 60's, and debt free and worth about $1.6 million. If I can do it, anyone can do it.
Anecdotal.
@@15KHPCLUB Nope
That’s what I have tried to tell people at my work,they don’t really listen or have discipline to change
@@15KHPCLUB Yeah they never mention cost, income, if they have another source of income...... All those factors matter because people who make too little just don't end up millionaires with too little nor no income.... If what this person wrote is true is very likely an exception and not repeatable without certain conditions.....
@@donaldlyons17 Yeah I just did the TVM calculator for that scenario to even make sense.
In order to achieve that $1.6M number in 20 years, you need to be contributing an average of $40k/year earning historical average returns of 7-10% without factoring inflation.
Which means you need to be at least a 6-figure earner and live EXTREMELY frugally which very few people earn and even fewer will actually do since living that way is boring and miserable.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
One of my goals is to employ the service of one this year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Linda Aretha Reeves is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
I just checked her out and I have sent her an email. I hope she gets back to me soon
Just paid off my house two days ago…I’m debt free!!! Finally!!!
Congratulations
Feels good doesn't it!
@@lewisjeffreys9175 feels really good
🎉congratulations. You've removed the debt ball and chains.
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 to $1 million 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 $100k into $20,000 in annual dividends-a significant milestone for me today.
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.
"Kristin Amber Landis" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
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.
Learn to cook, stop eating out all the time, saves a ton of money. underrated skill
Learn to fix your car and do basic maintenance, basic plumbing, electrical, flooring, painting...are also within the ability of most folks. We are just too lazy and that is the downfall.
Just started developing this skill about a month ago and not only are my pockets more full, so is my stomach and my happiness
Then when u save a bunch of money instead of going out you go to a nice grocery store get some high quality ingredients and it will taste better then a restaurant
Agreed. This saved me a lot of money, and helped me lose 140 pounds
Nah. Eating is only expensive in western countries.
Overall, 51% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I think the stock market will do well in 2024, so I'm thinking of putting $220,000 into stocks for my retirement. Any advice on doing this safely? Also, any important tips for the current financial situation?
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective consider financial advisory for informed buying and selling decisions.
Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Started with $73k in debt in October, by next month will be down to $42k 🥳 it sucks in the moment and life is not fun right now, but you can do it!
You might be done this year!
Great work!
Well done
Wow amazing! I have $96k and I’ve been afraid to start but your progress had motivated me ❤
That's what's up. Keep going😊
You make an excellent case! . I’ll add 1 more point… Seeing my monthly dividend income grow is EXTREMELY motivating to continue investing . Buying growth makes sense intellectually, but during a bear market, watching my growth portfolio shrink…the motivation isn’t as high as it is for dividend investing. A lot of this is psychological!
It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
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.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
I need help rebuilding my portfolio and coming up with more effective strategies because of the big drops. where I can find this coach.
NYCOLE CHRISTINA VANNATA 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 just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a caII with her.
I’ve noticed irrespective of the economy up and downs, inflation, and a host of others, the fin market still accounts for a lot of individuals becoming millionaires, its crazy because I know a lot of dedication is required, I’m wondering are there any shortcuts to it or perhaps smarter approach.
You’ve got to become a life long learner else you won’t make any profit. Study more it really does require dedication as you said.
Shortcuts NO, smart ways I’d say yes, you should know experience and skill has a lot to do as regards remunerative returns, I employ the services of an FA, saves me the time and ensures my portfolio positive growth, After I surpassed a $million I realized I should have gotten on it sooner.
Any possible way of getting with your fa, would appreciate.
I’d say do your due diligence on Kevin Mikan, he’s top notch.
had to check google to be sure, great resume he’s got.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@MercyLisa-qi1rl However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@MercyLisa-qi1rl Judith Ann peace is her name
Lookup with her name on the webpage.
@MercyLisa-qi1rl You are welcome
Jade is the best personality they've added in a really long time.
Real estate investment losing money is music to my ears. They are a major reason why the real estate market is the way that it is now
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
Thanks for the efforts you put in these. I found her and i leave her a message i awit a respons.
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 spent the last 10 years NOT doing Dave Ramsey and look at me now!
I'm in debt and have no emergency fund. We're starting the Baby Steps because wtf am I doing with my life?!?!
I'll update later👍🏼
Any update?
@naminakata182
Honestly?
Haven't gotten anymore debt.. but haven't saved jack squat. I did not do the Dave Ramsey. Lol
Inflation, incredibly expensive health insurance bc i have cancer check ups every 6 months now (from every 3 months Thank you God) and an increase in property taxes due to me not knowing how to protest tax appraisals (we bought a home in 2020 when I first got diagnosed so it was an impulse.. I didn't want to die in a rental) came at the same time several raises at work came so at the very least we are in the same place financially as we were 7 months ago.
However..
We fixed our own roof leaks.
We built a new massive chicken coop bc I'm starting a market garden to make money from home.
We built a huge chicken "shelter" that cools them in the horrible summers we have and keeps them warm in the winter. (Less stress means more eggs.. more eggs more money)
We took a senior dog to the vet and found out he has Cushing's and that was pricey. His meds are pricey but he still had a good quality of life an he we aren't putting him down until that changes...
We did not in fact do the Dave Ramsey. Lol
However...
We don't add to our $6k debt.
Our debt is small but we needed that money to get through the rest of the year instead of paying off debt.
Good news is that we are primed to do better in 2024. (God willing)
*I protested my tax appraisal and got it lowered. Which lowers property taxes
*I am cutting this awful health insurance and it saves us $700 a month. Gonna shop around.
*In Texas the Homestead Exemption went up from $40k to $100k so that will help A LOT
*the raises at work were only in the last few months of the year so it will reflect more next (this) year.
I still believe in the Dave Ramsey plan. It helped us buy our home in 2020 lol we did Dave ish lol
We just went thru some emotional mess and chose comfort instead of doing the right thing financially.
But 2024 is different.
Building a small business and paying off debt and saving for the 3 to 6 month emergency fund is my goal for 2024.
And that's my life story...
Will update later lol
How are you getting on…..
Any news?
I literally posted my whole life story and it's just not showing up lol
So here goes again..
Long story short I did not do the Dave Ramsey... but I didn't get onany more debt.
Cancer bills and bouts of depression made me just comfort myself.
Spent money on farm animals bc I'm just comforting myself.
Husband had some amazing raises.. at the same time inflation kicked in. So we broken even.
Vet bills for a dog with Cushings disease.. not cheap but I joined a Cushing group on fb and it saved us thousands..paid cash no credit
Fixed our leaking roof ourselves..
Fixed plumbing issues ourselves.
Built a massive chicken coop... cash no credit cards..
Built a goat house from scraps.. no credit cards..
Fixed cars with cash..
Husband and I actually did the Dave Ramsey 1 year before I was diagnosed in 2020 (am in remission so I thank God for that) and I was given a poor prognosis at the time so I said let's hurry and buy a house bc i don't want to die in a rental.. so we rushed into a house without an emergency fund so that was smart...(it wasn't but we have a house that was priced before the spike.. so thank God for that)
We went back $6k in debt again when we first moved into the new house I was 2 months out of surgery and still healing.. so many things went on the credit card. Unfortunately
Do not recommend lol
And all of this on my husband's job alone as I do not work..
I should be working but we have one reliable vehicle
We have farm animals.. just goats and chickens.. so my hobby will be making us money.
I sell eggs and I'm going to be building my garden this year hopefully and turn it into a market garden.
A lot of bad financial decisions on my part bc if I'm honest.. I'm still emotionally healing from cancer 2021 and what it did to me.
But I just thank God that im alive
So I'm slowly coming out of that funk and finding hope again
With that hope I'm going to be job hunting or putting more work into the homestead to create a business.
That and actually doing the Dave Ramsey baby steps now that we ate in a better frame of mind
Jade’s energy is contagious!! ❤. Uncle Dave finally got his match 😂.
A godly man is who leaves inheritance for his children's children.
That's a good goal, thanks Dave.
Don't forget that Charlie Munger and Warren Buffett invented the idea of investing and buying at both market highs and lows. As Warren Buffet noted, he has witnessed this occur frequently during his life. I'm not a trader. Never did my husband and I make more money than others in the middle class. With a $4 million stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...
I have not written this sort of comment before but I feel compelled to. From the your comment, I instantly knew that you have good technical understanding, and experience of investing!
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing....
@@corrySledd The fact that the market has been on its longest bull run ever makes the widespread anxiety and excitement comprehensible. There are opportunities if you know where to go, as you noted that it wasn't difficult for me to earn more than $780k in the previous 10 months. Since I was aware that I would need a reliable and strong plan to get through these tough times, I engaged a portfolio advisor.
@@AUstinnesc Do you mind sharing info on the adviser who assisted you? been saving for pension since age 34 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively.
@@AUstinnesc Thank you. I just checked her out now on the web and I've sent an email. I hope she gets back to me soon. I've been thinking of doing this for a long time now, and I've procrastinated enough already.
For everyone thinking “being a millionaire isn’t enough these days”
It’s better than the alternative. Good luck people!
@@Austenfan177
Yup.
Ask any Millionaire Next Door.
Yep, you gotta love people with fatalistic attitudes, because they certainly don't love themselves.
That depends on the alternative. I am thinking about the alternative of being a decamillionare. Obviously it is better than being broke.
“i wanna to be a billionaire so fuking bad, buy all the things I never had”
@@deltapromasterlauj4848 Well yeah, so does everyone. I hope to get there at some point. But that is called a dream, not a goal.
Jade is an awesome addition to the team 🙏
Even though I am aware that investing for the long term is the best strategy, I have come across many people who have discovered a technique to manipulate the market right now and make up to $350,000 in profit in a matter of months. What strategies may I employ to get this level of profit?
Your stock investing strategy is excellent. I've been hesitant to enter this market since knowing about a man who made over a million dollars from just $300k since the epidemic, but I now believe the moment is perfect. I'm now interested in the strategy and techniques he used to achieve such a huge profit.
@@teresita2- Since I have a variety of jobs, I don't have a particular fund that I invest in. I don't act like that at all. I take cues from seasoned financial advisor Julie Anne Hoover, who is registered with the US Securities and Exchange Commission, in how I conduct myself (SEC). Since then, in contrast to the IRA's slow growth, my returns have increased quickly. What I have is used just by her trades, not by a small number of highly specialized companies.
@@Blitcliffe That's incredible! If she is this talented and has A-list talents, I want to speak with her. I also use a MAM account to duplicate transactions, yet I continue to lose 20% of the time. Where can I get her contact information?
@@Harperrr.99 I was able to comprehend profit creation better thanks to my instructor Mariam Sandra Milner'. By searching for her online and going to her page, you may contact her.
@@Blitcliffe Mariam Sandra Milner' to be very knowledgeable. I discovered her online profile and read through her resume, educational background, and qualifications, which were all very impressive. She is a fiduciary, which means she will act in my best interests. So I scheduled a session with her.
I’m tired Dave 😂 but determined… single mama of 4…a night pediatric nurse… a career coach.. and have a clothing boutique whew!
But determined! 💪🏾💪🏾💪🏾
Ride on, sister!
You go girl🥰 🔥
@@agamaya6458 aww thank you Queen!👑
@@midkort 💪🏾💪🏾
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
thanks, was guided tho..Julia Hope Marble.walked me through the ropes majestically i'ts my ultimate pleasure.
If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
My financial life has completely changed all thanks to Mrs Amanda awesome trading strategies!!!
Mrs Amanda The Bitcoin Trader is legit and her method works like magic I keep on earning every week with her new strategy
Wow I'm iust shock someone mentioned expert Mrs Amanda thought I'm the only one trading with her
She's really amazing with her skills...she changed my 0.5btc to 2.1btc
She helped me recover what I lost trying to trade my self.
JADE = Finally a personality worthy of being on this show!
I like her energy! Reminds me of some of the best coaches I played for
cause she's been there, done that
AND AND AN AN AND AN AND
Jade is the best personality to grace this show after Dave himself. What a remarkable woman!
💯 %
Yes!!! Feel her passion
I modified step one. As a single mom, I didn’t feel comfortable with only $1000 for emergencies. I felt more comfortable with $2500. After that, I paid off ALL of my debt. I’m working on step 3a and b. I’m building my emergency fund and saving for a down payment for a home.
I surprised my coworkers a while back. We were talking about living paycheck to paycheck. I told them that I didn’t live paycheck to paycheck. They were surprised. The woman with one income is better off financially than her friends who have two incomes. I inspired one of my friends to get rid of her debt. She’s working on it now.
BTW, I don’t receive spousal support or child support. I want my daughter to see that women can be financially independent and responsible.
You’re setting an amazing example for her!
So proud of you!
@@2012PAMS Thanks.
Yes, given inflation, $1,000 would barely cover most small emergencies. $2500 is a good starting point emergency fund 👍🏻
Keep it up! Best of luck to you ❤ Great mom right here!
My wife and I love the energy of Dave saying "YOUR BROKE" - we hear it in our heads every time we're making purchases 👌
Another great content. You and Gary Joe Wilde are highly recommendable investing pros every investor who wants to get rich investing must know or work with Unfortunately, don't know why Gary deleted his video channels. He is very advanced and experienced in the field.
In all honesty I prefer Gary's trading method exactly what i wanted
Chris and many other older advisors often talked about him in their early vids. Got to know he mentored many of them.
Started really taking Dave's plan seriously around 2017. It's happening. Trust the process. The minor delay in gratification will be amazing when I am where I want to be. My future will be so much better than what it would have been if I just "YOLO'd" or whatever. So thankful for Dave.
can I actually do this plan only making $50k a year? dave has said in previous videos that my kind of income is “making no money”. I can’t go out and get a 6 figure job tomorrow. so is this even possible making $50k annually?
@@ihateallyall yes. Adjust expenses to your reality
Step 1, stay single!
Yes agree 💯 %
Yes 💯
Smart move
😂😂😂
I'm. Personal trainer and often tell my clients "it's discipline you need and motivation is the byproduct". Pretty darn confident I'm a flame 🔥. Love it guys 🙏
I love flame vs spark analogy. I shared this video with my kids. Told them this is the best advice when you are on your own.
Dave's plan is more psychological then monetary ... and that's what people need
you can have more money, but if your mind is out of place you'll still going broke at the end.
This indeed
You guys were on fire in this segment. Very inspirational stuff. 👊
This is the best combination, love these two together.
Jade is telling the facts. And Dave is loving it. Lol.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $450k. before I turn 40, I would appreciate any advice on potential investments.
Focus on two main goals. First, protect yourself by knowing when to enter the market to limit losses and maximize profits. Second, get ready to capitalize on market shifts. I recommend asking a professional for advice.
@@Americanpatriot723 Yes true, I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@@84gaynor I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
There are many independent financial advisėr that you might consider. But I've worked with "JILL MARIE CARROLL" for almost four years and she's proficient. You could proceed with her if she satisfies your discretion.
This is useful information; I copied her entire name and pasted it into my browser; her website appeared immediately, thanks for sharing.
Listen to this young woman! She has it going on. We did it only working blue collar jobs. If we can do it, anyone can. We are now “The Millionaire Next Door.”
Exactly how I like it - no sugar coating, just straight and honest. I’m sick and tired of the pcc culture
I get discouraged at times but I have found that going back and re-watching these videos helps me keep my head straight. Just remember to look for the prize when you have accomplished the goal.
I'm 25 in graduate school. I have 6 months' worth of expenses saved and I have a Roth IRA that I contribute to every month. But I can't contribute or save much because my graduate stipend is just enough for me to live on. But I'm thankful that I'm debt free and hopefully when I graduate, I can start building wealth.
Listing your debt amount and watching it reduce is effective. Excitement as you check off each debt is exhilarating. Paying off all debt is amazing... Joy and freedom!!!
💯
wrong you need to play lottery and gamble
You are 100% RIGHT! It is an amazing feeling and I love it!
I started over in 1997 at 47 years old and $387,000.00 in debt. (That’s four hundred thousand in round figures.) I’m not a doctor. I have an associates degree in drafting technology. I retired in 2014 at 63 years old with a net worth of just over 1.5 million. That’s not 12 years but it was just 16 years. Incidentally, now, at 73 years old I am still retired and my IRA is worth more than it was in 2014. These simple principles work folks. Do FPU. Just follow the instructions.
🎤 yes! We paid off our car today! One more debt to go and we are 💯 debt free!!
They’re absolutely right. It’s difficult, but what’s even more difficult is knowing that my parents don’t even have enough money to be properly buried when they pass. I will never leave that burden on my own kids, never. It’s heart-wrenching.
Consider that fewer and fewer people are choosing burial and a traditional funeral. Cremation and a lovely reception at home, a hall, or a restaurant banquet room is a respectful tribute.
You have no responsibility to bury your parents, so there is no reason to feel burdened. You can choose to burry them, as I would, but there is no requirement to do so. People get responsibility and charity mixed up emotionally. If I didn't have the financial means to bury my parents, I wouldn't; and I wouldn't feel bad about it.
@@diggernash1 Bible does say: honor your father and mother.. so that would be honoring them.
@@lala-cl2gn You are conflating Biblical principles with secular law.
My two brothers and my sister and I contributed to my mother's income from the time my father passed until she passed away, over twenty years. I was happy to do it, but we all had good jobs and were pretty good with personal finances so it wasn't that hard for us. If you can't do it, you can't do it.
Love her intensity! She is 100% right
Did it in less than 10! Thank you Dave!!
Can I borrow some????😊
@@briancallahan5673 I’ll respond the same way I respond to my kids “I’m not a bank lol!” But if I can do it anyone can do it. I grew up middle class, there was no extra $ around. I wasn’t trained in money principles but that all changed after being introduced to Ramsey.
Net Worth at a million OR your investments at a million?
@@marcusarelius doesn't matter. You're broke they aren't. Brokie got too much to say. YOUR BROKE
@@strongermind909 it does matter. And I did it in about 10 years as well…
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.
I'm surprised that you just mentioned Veronica Hoy here. I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
Hoy's expertise in customizing investment portfolios based on changing market conditions and personal risk profiles is exceptional. It's not a one-size-fits-all approach, which is crucial in crypto investing.
You trade with Veronica Hoy too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
Sometimes I hit replay multiple times to hear Dave yelling especially at 2:17. 🤣 There are so many Dave rant gems in this video and I love it. Keep it up!
Ive listened to dave for years and i love it, but Jade’s motivation rant was one of the best moments ive ever heard on this channel!
Love how Dave always takes it back to the foundation with the Baby Steps
Really, it's a pretty simple formula. And, it works. People want to hear the get rich quick schemes, but Dave describes the way you get rich quick enough.
This is the best episode mainly for the flame and spark analogy. I’ve tried to support so many that are sparks. This has allowed me to set aside that much more.
One of the things people have to learn is to stick with it even when there are little problems.
That is why I like the debt snowball it recognizes that people need to have wins quickly or they will quit.
Dave is dressed like a NYC finance bro🤣
@@The6Foot4Asian finance auditors dress like that everywhere.
Exactly. This is why the snowball method is preferable to paying off the debt with the highest interest rate.
Jade and Dave, excellent! Thank you Both.
I was eating beans and rice before dave made it popular....always be on your grind.....
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.
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. You could check her website out.
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.
Great motivation!!! Love Jade! 💟
6:56 almost started crying 😭😭😭 was wondering how tf she said that without crying.. but then her voice cracked a bit and I got even more emotional 🥺♥️ love that woman!
Thanks for the help. I’ll have step one done this month. Keep posting.
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I also came across her information on the website, which led me to connect with her. I appreciate you sharing this valuable insight here.
"if you don't find a way to make money while you sleep you will have to work hard until you old".
I advice everyone to start investing and never rely on just salary. No billionaire made it through salary
90% of millionaires right now are investors in the crypto market
@wilsonadams2588You're right, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor
@@christianajoe8563It's not ignorance but due to some unprofessional broker in the market
Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company
Thank you for explaining it EXACTLY this way. It’s just what I needed to hear.
thank you for the message.
Wow! That was an awesome Ramsey Solutions tag team rant!
I love Jade's energy!!!
Dave you motivate me everyday!!!! I speak about you(debt snowball and emergency fund) often. I’m in the thick of it now.. keep trucking and beating down that debt!! It will all be gone soon!
Such a needed vid - thanks Mr Ramsey & team!
Preach on brother D! Man this is Dave at his finest! Really dig the guest speaker as well.
Building wealth can be summed up in one word. Discipline.
Jade is quite possibly the Ramsey "personality" that most represents the Ramsey brand. She carries Dave's message as well as he does. She was an amazing addition to the team.
Like Dave, she has been down the hard road. It shows.
Was? She’s no longer with the team?
@@Happiness379I guess he meant she's now longer an addition but a member. That's like calling the Doctor in psychology in 2023 the he is a great addition
I love Jade!❤
First time I've seen her and I'm impressed! She scolds like boomer Dave does and I love it.😂
I have over $15K in credit card debt and 24K in auto loan. I'm starting these baby steps. I'll be debt free 🙏🏼
Good luck, but hopefully you won't need it, just follow the simple plan 😊
Great video even as a refresher by those that have been through the 7 Steps. Thanks.
Followed Dave's plan. I agree to this plan. It worked.
I love it. I am now on step 4,5,&6. I sleep better and love life more that all I have is a house payment. It took years investing in my career and learning discipline to get here.
loved the spark vs flame line.
What a wonderful Master Class !!! Thank God o ended up here !!! I'm so Thankful
I just sold a property in Ohio and I'm thinking of putting the cash in stocks maybe BTC & USDT, Is this a good time to buy? How long until a full recovery? How are other people in the same market raking in over $200k gains with months?
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by professionals.
Make sense! I sought the advice of a fiduciary advisor in 2022 after experiencing severe losses. I achieved portfolio diversification and restructuring by adding dividend-paying equities, mutual funds, ETFs, and REITs to my $700,000 holdings.
Hello, thanks for replying... I'm looking for such opportunities, How can i find a decent advisor like yours?
Aileen Gertrude Tippy is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I checked this lady out of curiosity, found her webpage and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
Listening to this on repeat 🙌
Good advice, plus Jade wearing a Ramones t-shirt. Awesome!!!
Great segment… that’s the way you get this done I know it works I’ve been doing it for two years yetis really works . Great job. Guys
This is the best Ramsey video I’ve seen in ages, keep it up!
Amen. I was thinking this when I heard it the other day. They had really lost their touch in recent seasons. THIS feels a lot like old Ramsey show.
I can feel and hear her passion about being depth free.🙏🏿🖤👍🏿🎉
Love this message! I don’t want to be a spark! Jade, you said all!
Y’all really gave the Ramsey Show a blessing by bringing Jade on. She has that same fire that Dave has and such a similar level of bluntness to really stick the wisdom in the heads of even the densest of us. Love this duo!
Agreed!
10 years of delayed gratification is a real challenge for most people, but it's not impossible
Facts
Honestly, for most people the real intensity is 2-5 years. After you get past Step 3, you can breathe a little. No, you can't go back to the way you were before, but you typically can save 15% of your income for retirement and relax a little and spend some money on a few of your wants.
Wow, you guys are so amazing! 👏Also, it is true that one should follow these steps & see them as a MUST to have a better life for oneself and subsequently help others as well period & bottom line y’all!👍I know I’m all in already for a new beginning.❤
Jade talking the talk! ❤❤❤ thank you
My daughter saved up the 3 years and completely paid off student loans just before intrest was to begin. 70k😊
You betta tell us Jade!!!
Spark vs Flame is a great analogy, love it and so true. Every time I have to dip into my Emergency fund I could give up but I'm not. I'd determined to get through the baby steps.
I love the Spark and Flame analogy! 👍
Paying off debt and saving money is Fun for me. 🎉
What a great addition she is to the team! Nothing beats experience
I needed this video, thank you.
Great rant from Jade here and it's the truth! No plan B to getting out of debt, the same way there's no way to developing muscles and getting in shape outside of putting in the work needed to do it
Finally a co host who can toe to toe with Dave.
My mindset everyday is "I gotta earn or I'll be living on the street" even though I have savings, investments and a good income. I'm trying to break the cycle of both my parents being in their 70s and 80s and not have $100 combined between them.