Literally having this moment this weekend. We grew up poor and my parents made terrible money decisions, tomorrow I get to tell my dad he raised a millionaire.
I'm a decamillionaire. I drive a modest 6-yr old car. I shop at Walmart. None of my middle class neighbors has any idea I could buy every house on the street for cash. No one is impressed by my lifestyle. And that's okay.
@@miketheyunggod2534 You must live a sad life if you need brand name logos to be happy. Some of us have figured out there's more to life than buying stuff that says "hey, look at me! I spent a lot of money on this stuff!' If you lived a good and happy life, you wouldn't be so desperately seeking approval from people you don't even know.
It's definitely possible to get to a million. I don't make a lot of money and I've only been intentional with my money for 4 years and I'm halfway there.
Wow, you go, Jumpman67!!! We might have been born the same year if that's what your name indicates... With my income, I don't have enough time to make a million now. But I like to encourage others on their way. Keep going; you'll (soon) make it to that first million for sure on that track. May GOD continue to bless you, and may you have a fantastic new year! Whooohooo!
We hit the millionaire milestone some years back and haven't stopped celebrating. We celebrated so hard we forgot to make another goal. We realized last week that we are about to hit 2 mil. It has reignited the need for goals. Rachels right that the number on your goal should be associated with something more human than just a number. So we are reverting back to basics and taking Dave's advice. Our new goal is to live like now one else.
awesome! May I ask how long it took you to reach $2m after hitting the $1m? I've heard that the magic of compounding makes each million arrive sooner than the last. Cheers!
@@drewo6388, five years. We made a lucky home purchase which shaved probably a year off. Other than that and topping out contributions every year, it’s mostly compound interest.
Drew: in our case, it took us about 7.5 years to get to our first million (and that’s 7.5 years from the time we got serious about the Ramsey plan), and a little over 2 years to get our second million (though that included some unusual positive events). So yes, that was definitely our experience.
Wow! We are almost to where you are, paid off the house last April and just hit a million in retirement savings a couple of months ago. Very good suggestions!
I’m so grateful for finance CZcams. When school failed us and a lot of our peers failed us, the good people like George and Rachel are there to educate on us on how stupid we’ve been with money and how to fix it!
Great video, a number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 60, I would appreciate any advice on potential investments.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
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.
I'm 40 and currently venturing into the stock market, my ultimate goal has always been to retire at 55, is it possible to raise over $8million in portfolio size before my retirement at 55, I earn about $800k annually.
Generally speaking, a good number of people discredit the effectiveness of financial advisors in retirement planning, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
Definitely, Heather Ann Christensen 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 Jessica Annabelle Rupp and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
I saw a bit recently that people, when polled, say they would feel “wealthy” if they had $1M, but they wouldn’t feel completely secure until they had at least $2.7M! (Average)
Great episode! I feel that Rachel's ideology is more enjoying the journey and just do the thing. Don't set the goal just to achieve the goal. Set the habit, enjoy your life! 😎😍 It's a great way to be!
I’m with George on clipping the App coupons. So easy- five minutes before going in to the store saves over $20 on groceries and helps remind me what I need to buy!
Net worth millionaire here. Been Davish for a few years but because of mostly following his principles I have gained so much financial freedom. Very grateful to the Ramsey crew!
Net worth millionaires here🎉 Happy to say we couldve done it sooner than last year had we followed the Dave plan circa 2005 when we downloaded his audiobook on my ipod instead of ish but we made it following his principles. I dont miss having a car payment, credit cards, etc.
I pick up change in the parking lot. Even pennies. I had to get over the embarrassment when I held people up, but guess what it's is a little blessing after awhile.
Negative 10k net worth in 2019. 300,000 positive net worth in 2024. Debt free besides the house. 100,000 invested, 5k emergency fund. Rest in equity in the house. It’s not too late people, buckle down and make it happen. I’m 39 and so hopeful for the future it’s exciting.
Us too, a few years ago we calculated our net worth and our jaws dropped when we were 1M+! Not long before that we were praying for financial peace. It’s real y’all, I promise! ❤️
Everything you said here in none of my business. My only focus is on how to keep growing my portfolio. Thankfully i'm in good hands with Wealthwise Capital...
First episode, been watching /listening to The Ramsey show a few years now. Very happy to found this and watched! Really funny and good topics talked about. Enjoyed tons
The belief and education creates the mindset. The mindset motivates and develop the habits. The habits operates process. The process generates wealth. The goal $$$$$$ is simply the results from following through the process to completion.
George, you should have bought a Honda Accord. My 2021, purchased in 2021 with all cash, is still valued at the $$ I paid according to KBB. These are weird times, but it hasn't lost any of its value (yet).
😂 watching Rachel is priceless!!! If you’re just listening you’re missing out so much! I always eat a snack and laugh at their comments and facial expressions. Thank you both for making money always sounds so fun! Definitely the happiest hour in my week 💕 xo
This needs a mocktail! Try: 1/2 sprite, 1/2 lemonade, splash of grenadine, w/an orange 🍊 slice on the side of a martini glass rolled rock salt. Mocktini version of a Tropical Sunset or (without the salt) a Citrus Sunset. Good times are sure to be had.
There is a quote attributed to legendary Green Bay Packer coach Vince Lombardi, that says, "Perfection is unattainable, but we will chase perfection and in the process catch excellence! When Rachel mentioned the process of reaching a net worth of one million I thought of changing that quote for myself to this, "Reaching a net worth of a million dollars may not be attainable, but I will chase that net worth of million dollars goal and catch financial freedom." It's all about the steps you take to reach the goal.
I usually listen to this show via podcast but after listening to the end of this show I had to see it on CZcams. OMG that was hilarious 😂!!! Thanks for the great belly laugh, I really needed that 😁.
Ha, my grandfather brought a 200 pound mortgage in the 1930thirthys, and still did well. I really do reckon you both are right with this discussion. Thank you.
You have at least one french listener with me George & Rachel 😅😅 We need to improve that pronunciation of "Kir Royal" 🤣🤣🤣...joke aside keep it up guys great content!
That’s weird that you think having a specific number in mind. Setting goals and specificity, helps so much. Perhaps the systems getting there may vary. But it helps.
I love these two people , they are so down to earth and i also learn a lot from them , i can honestly say i think so much like them and we are also debt free, it a huge blessing t be debt free , we can be generous, saving and invest and have a peaceful blessed life , all the best to u in 2024 🎉🇨🇦
My goal wasn't to be a millionaire but to have $2 million in my retirement accounts. I missed it because of the market issues of 2001 and 2008 and being laid off before I was ready to retire. I was an engineer but my salary was under $80k until the last 4 years before becoming a millionaire or 6 years before retirement. It can be done! Yes, I live in a $250k house that has been paid off for years. It is great to be retired with money not tied up in housing.
I have always been a natural saver (I had a Folgers can full of Toonies and Loonies while growing-up). The thing I never learned and am still puzzled by is *how* to go-about investing. Stupid question: Is a professional required in order to invest in mutual funds? or can this be done via an app or web site? If so, what are these apps/web sites called? (I have tried researching this but I am still very confused). I am in Canada, so I assume investing in Mutual funds is the same as in the states ? I also get confused about how/how much to put into a Tax Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP). Can anyone help me out? I'm losing-out on valuable investing time because I don't know where to start. Can someone please point me in the right direction? *Thank You*
I can't wait to be a millionaire! My husband was that guy that set money goals. He started his own business in 2001. The first year in business he lost money. I kept us afloat. Each year he would set a income goal. He always met it. We have a six figure income and working on being debt free. We built our house with no loan. Three cars paid off. Our only debt is our boat, a camper and a memorial car we bought after our son passed. 😢 Oh wait, hang on. My house and three cars are paid off. My house is worth $600,000. I have a paid off suburban and a paid off Jeep Wrangler. Oh I have so many questions now....
medical doctor here- just be very careful consuming all this creatine and protein. make sure to get routine labs to check your liver. I have had some of my patients destroy their liver by consuming creatine and protein.
Super super super super loved this episode! I’m listening to it, so I’ll be a millionaire I was told and I’ll bank on that! (And am putting in the hard work) And the attempt towards Miley Cyrus, at the end was hilarious! I was so frustrated, listening to her!!! 😅😂🎉🎉🎉
I was listening to this while driving so I didn’t even see the meme at the end but I was laughing at everyone else laughing 🤣 You guys turn me into such a cheerful driver haha.😂
Listened to this episode in the podcast and immediately came here to ask this question. Baby step 4:.Your website states in one location that the 15% is based on your gross income. Another section of the website states it is the net (or after taxes) that you base the percentage on. I know in the end it comes down to just doing something but if we’re going to follow the plan to the T, which one is it? Thank you so much for everything you’re doing!
Ooh! I LOVE Reddit, and you! You should have someone else do a deep dive for you to give it a try. Protect the mental health first! I’d be interested in your take on bad Reddit financial situations lol
I so rarely hear anyone talk about the difference between being a millionaire as a married couple vs someone who is single. If my wife and I are married and have a net worth of $1 million, it doesn't seem unreasonable that we each have a net worth of $500k. In the episode its mentioned there are 24 million millionaires in the USA. If my wife and I have a $1 million net worth, do we count as 2 people who are millionaires? It doesn't seem that way. It DOES SEEM LIKE I AM BEING A DEBBIE DOWNER ABOUT THIS. But it feels like a reasonable thing to bring up. As is mentioned once in the episode, I think we just need to more actively say "household millionaires", or "millionaires as a couple".
I had a minivan from 16-19 years old. I’m sitting here in my suv (I like at home so I also have access to my moms larger car and my dads smaller convertible) dreaming of the day I can buy a minivan like my 2010 Chrysler Town and Country again. I am so on Rachel’s side
Can you do an episode with examples (because I know each job has different websites) on how do you literally invest your 401k? Hoping to hit BS4 this 2024!!!
When that guy won I was walking up the stairs to go to my bedroom. I stopped to hear the lady question and when he used the lifeline I was rolling! That is 100 percent the only time I had ever watched any of that show
Haha I was wondering why the drink was called a “royal war”. The first word was hard to figure out - thought an attempt at “Guerre” until the “Kir” showed up.
When Rachel said that she doesn't think a number is a goal, made me take a step back, because I've always been taught the requirements for a goal are: specific, measurable, attainable, realistic, and time-based. (S.M.A.R.T. goals) So saying you want to be a millionaire by 40, fits exactly the definition of a goal.
Maybe it’s the difference between a short term goal and a life goal? Like how do you have a goal to say… be a good husband? Or more polite? Idk. Interesting thought
Yes you're right, it is a goal. I think she's saying that a certain number shouldn't necessarily be your goal for fulfillment in life. Money, after all, is a tool. So you would never make a goal to have tools and never know what you're going to use your tools for.
@@Davefitz04 How do you measure being a better husband or being more polite? Those are not specific or measurable, therefore not goals. Now saying I'm going to help every little old lady I see crossing the street tomorrow. Would be a goal, as it's specific and measurable (as well as attainable, realistic, and time bound)
@@ddraissI agree. Those are ambitions. You can have the ambition to be a better person…but what does it really mean? If the meaning can be different to different people, it’s not a defined goal. We set a goal to have our home paid off within 10-12 years when we purchased it. We met that goal. That’s a fact. No one can deny that our home was paid off in that period. They can disagree with it, but it doesn’t change the fact that it was done. Further to that….i believe the comment in the video was meant more along the lines of “Don’t set a goal to become a millionaire, when what you really are looking for is freedom.” Our net worth is currently just over $1 million, and we have no debt. We could sell everything we own, and buy a $2 million home and still have a $1million net worth…but now we’d also have $1million in debt sitting over our head. Same net worth number in the end….but a far different picture looking forward. In one situation, we are completely free, and our income is all ours. In the other, we have major debt commitments every month, and our income is virtually all eaten up with no margin to spare. On paper though, they seem very similar.
I'm going to be the Debbie Downer troll here. I think a lot of paper millionaires out there may lose that status this year as the houseing market comes down. I don't think the home you live in should be 100% counted towards your net worth. Any profit you make when you one day retire and sell it will likely have to be taxed, and the 6% commission is also lost. Also, you shouldn't count the entire 401k if you are going to have to pay taxes on the distributions one day when you take it out. To be accurate, you should remove taxes and commissions from property and investments to get you your real net worth. If you had to sell everything today and start renting or go into assisted living, what you have left should be your net worth. (Over a million Americans just lost their millionaire status 😢) And no, I'm not a sour broke person, just saying it how I see it. 😅
I can’t even tell you how hard I laugh when Lindsay is just dying laughing at the chaos that is Rachel and George sometimes. I love it.
IKR. Her laugh is contagious
I so love Rachel! I love how much she laughs! You two are so awesome together. Thank you for sharing your successes and shortcomings with us. ❤❤
I wish I could actually hang out with them. They're hilarious.
And sometimes the hehehe comes out
I have tears rolling down my face as I laugh!!! Totally made my week!!🎉
Literally having this moment this weekend. We grew up poor and my parents made terrible money decisions, tomorrow I get to tell my dad he raised a millionaire.
Good for you!!!
🎉
I'm a decamillionaire. I drive a modest 6-yr old car. I shop at Walmart. None of my middle class neighbors has any idea I could buy every house on the street for cash. No one is impressed by my lifestyle. And that's okay.
Show me proof 😊
If you live like that, what’s the point of having money? You’re poor dude.
@@miketheyunggod2534 You must live a sad life if you need brand name logos to be happy. Some of us have figured out there's more to life than buying stuff that says "hey, look at me! I spent a lot of money on this stuff!' If you lived a good and happy life, you wouldn't be so desperately seeking approval from people you don't even know.
@@miketheyunggod2534 Money gives you freedom to do what you want, free of worry-.That's the point of money, not mindlessly buying stuff.
What a signature SMHH trainwreck ending that was 🤣🤣
It was HILARIOUS!!! 😂 I am now subscribing. Lol
there are some french listening to you. At least I am😅
It's definitely possible to get to a million. I don't make a lot of money and I've only been intentional with my money for 4 years and I'm halfway there.
Wow, you go, Jumpman67!!! We might have been born the same year if that's what your name indicates...
With my income, I don't have enough time to make a million now. But I like to encourage others on their way. Keep going; you'll (soon) make it to that first million for sure on that track. May GOD continue to bless you, and may you have a fantastic new year! Whooohooo!
May I please ask your age?
Me too.
We hit the millionaire milestone some years back and haven't stopped celebrating. We celebrated so hard we forgot to make another goal. We realized last week that we are about to hit 2 mil. It has reignited the need for goals. Rachels right that the number on your goal should be associated with something more human than just a number. So we are reverting back to basics and taking Dave's advice. Our new goal is to live like now one else.
awesome! May I ask how long it took you to reach $2m after hitting the $1m? I've heard that the magic of compounding makes each million arrive sooner than the last. Cheers!
@@drewo6388, five years. We made a lucky home purchase which shaved probably a year off. Other than that and topping out contributions every year, it’s mostly compound interest.
Drew: in our case, it took us about 7.5 years to get to our first million (and that’s 7.5 years from the time we got serious about the Ramsey plan), and a little over 2 years to get our second million (though that included some unusual positive events). So yes, that was definitely our experience.
Well done!!!
Wow! We are almost to where you are, paid off the house last April and just hit a million in retirement savings a couple of months ago. Very good suggestions!
Cracked seven figures and never made more than $60,000. Two tips: live life, but livs below your means and create and follow a budget.
I’m so grateful for finance CZcams. When school failed us and a lot of our peers failed us, the good people like George and Rachel are there to educate on us on how stupid we’ve been with money and how to fix it!
Great video, a number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 60, I would appreciate any advice on potential investments.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
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.
@@mikegarvey17Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
Credits to "Gertrude Margaret Quinto", she maintains an online presence. Just make a simple search for her name online.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Y'all need to make Lyndsie a drink so she can drink with you guys. We all know she's the 3rd host 😂
I'm 40 and currently venturing into the stock market, my ultimate goal has always been to retire at 55, is it possible to raise over $8million in portfolio size before my retirement at 55, I earn about $800k annually.
with the current state of things in regards to inflation and economy $8million might possibly not be enough for retirement
why won’t $8million be enough? it basically boils down to your expenses and maintaining a healthy budget after retirement.
Generally speaking, a good number of people discredit the effectiveness of financial advisors in retirement planning, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
Definitely, Heather Ann Christensen 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 Jessica Annabelle Rupp and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
Best ending to an episode yet🤣 Hearing everyone in the background laughing makes me laugh even harder!! 😂 So good!
I saw a bit recently that people, when polled, say they would feel “wealthy” if they had $1M, but they wouldn’t feel completely secure until they had at least $2.7M! (Average)
Great episode! I feel that Rachel's ideology is more enjoying the journey and just do the thing. Don't set the goal just to achieve the goal. Set the habit, enjoy your life! 😎😍 It's a great way to be!
I’m with George on clipping the App coupons. So easy- five minutes before going in to the store saves over $20 on groceries and helps remind me what I need to buy!
Net worth millionaire here. Been Davish for a few years but because of mostly following his principles I have gained so much financial freedom. Very grateful to the Ramsey crew!
Great show George, Rachel and Lindsay. It's really fun, entertaining and educational. 🎉🎉
Net worth millionaires here🎉
Happy to say we couldve done it sooner than last year had we followed the Dave plan circa 2005 when we downloaded his audiobook on my ipod instead of ish but we made it following his principles. I dont miss having a car payment, credit cards, etc.
I've never laughed during an episode of Smart Money Happy Hour as much as I did at the end of this one 🤣 These always make my week!
The ending was gold, so fun! Cheers!
He was a baddie!! We are 100% going to be millionaires, probably half millionaires in 2024 but we will get to net worth millionaires before 40.
I pick up change in the parking lot. Even pennies. I had to get over the embarrassment when I held people up, but guess what it's is a little blessing after awhile.
That ending was hysterical 😂
Negative 10k net worth in 2019. 300,000 positive net worth in 2024. Debt free besides the house. 100,000 invested, 5k emergency fund. Rest in equity in the house. It’s not too late people, buckle down and make it happen. I’m 39 and so hopeful for the future it’s exciting.
Us too, a few years ago we calculated our net worth and our jaws dropped when we were 1M+! Not long before that we were praying for financial peace. It’s real y’all, I promise! ❤️
May I please ask your age?
More money more time for family! 2024 money goals
Everything you said here in none of my business. My only focus is on how to keep growing my portfolio. Thankfully i'm in good hands with Wealthwise Capital...
Wealthwise Capital are the best by a million miles. Only known them for a while but my God have they been so heIpful!
Right? 100k profit in my first year.. only very few companies can match that
You definitely should
loved the episode especially the end....Hilarious!!
First episode, been watching /listening to The Ramsey show a few years now. Very happy to found this and watched! Really funny and good topics talked about. Enjoyed tons
Great episode; phenomenal ending. Laughed so hard I cried. 😂😂😂😂😂😂
Yup, it finally happened. Rachel has cracked under the pressure.
French listeners over here! 😂
🍷😂
The belief and education creates the mindset. The mindset motivates and develop the habits. The habits operates process. The process generates wealth. The goal $$$$$$ is simply the results from following through the process to completion.
My favorite show! Just so good.
the ending is amazing!!
New resolution for this year save $20,000
You can do it!
We saved 24k in 2023 on a 5 figure single income. Can be done.
I love Rachel & George!
This episode is proof you can have more fun on less money! All you remember is the journey anyway! 😂😂😂
We love your show!
I loved this! ❤
I so remember watching that moment on TV!
The ending was hilarious! My stomach hurt from laughing so much! 🤣🤣🤣
George, coupon clipping? I love that about you! All of those $.50 add up!
Best episode EVER!!!🥤🎆
The colors of the set reminds me of the 90s, I love it!
Funny stuff esp at the end. Sounds like we need to see a bloopers reel soon
😂😂😂 even better than I thought it was going to be! After listening to this on Apple pod I couldn’t wait to see it on CZcams hahaha You guys are great!
George, you should have bought a Honda Accord. My 2021, purchased in 2021 with all cash, is still valued at the $$ I paid according to KBB. These are weird times, but it hasn't lost any of its value (yet).
😂 watching Rachel is priceless!!! If you’re just listening you’re missing out so much! I always eat a snack and laugh at their comments and facial expressions. Thank you both for making money always sounds so fun! Definitely the happiest hour in my week 💕 xo
This needs a mocktail!
Try:
1/2 sprite, 1/2 lemonade, splash of grenadine, w/an orange 🍊 slice on the side of a martini glass rolled rock salt.
Mocktini version of a Tropical Sunset or (without the salt) a Citrus Sunset.
Good times are sure to be had.
There is a quote attributed to legendary Green Bay Packer coach Vince Lombardi, that says, "Perfection is unattainable, but we will chase perfection and in the process catch excellence! When Rachel mentioned the process of reaching a net worth of one million I thought of changing that quote for myself to this, "Reaching a net worth of a million dollars may not be attainable, but I will chase that net worth of million dollars goal and catch financial freedom." It's all about the steps you take to reach the goal.
I usually listen to this show via podcast but after listening to the end of this show I had to see it on CZcams. OMG that was hilarious 😂!!! Thanks for the great belly laugh, I really needed that 😁.
Ha, my grandfather brought a 200 pound mortgage in the 1930thirthys, and still did well. I really do reckon you both are right with this discussion. Thank you.
Thanks for the laughs at the ending 😂
Congratulations! I know your dad is going to be SO proud of you!
You have at least one french listener with me George & Rachel 😅😅 We need to improve that pronunciation of "Kir Royal" 🤣🤣🤣...joke aside keep it up guys great content!
I had tears streaming down my face! The ending was hilarious!!! 😂
39:10 I've been laughing this whole time! Lol! No more Kir Royale for Rachel! Lol!
That’s weird that you think having a specific number in mind. Setting goals and specificity, helps so much. Perhaps the systems getting there may vary. But it helps.
The ending 😂😂😂😂😂
I love these two people , they are so down to earth and i also learn a lot from them , i can honestly say i think so much like them and we are also debt free, it a huge blessing t be debt free , we can be generous, saving and invest and have a peaceful blessed life , all the best to u in 2024 🎉🇨🇦
My goal wasn't to be a millionaire but to have $2 million in my retirement accounts. I missed it because of the market issues of 2001 and 2008 and being laid off before I was ready to retire. I was an engineer but my salary was under $80k until the last 4 years before becoming a millionaire or 6 years before retirement. It can be done! Yes, I live in a $250k house that has been paid off for years. It is great to be retired with money not tied up in housing.
I have always been a natural saver (I had a Folgers can full of Toonies and Loonies while growing-up).
The thing I never learned and am still puzzled by is *how* to go-about investing.
Stupid question: Is a professional required in order to invest in mutual funds? or can this be done via an app or web site? If so, what are these apps/web sites called? (I have tried researching this but I am still very confused).
I am in Canada, so I assume investing in Mutual funds is the same as in the states ?
I also get confused about how/how much to put into a Tax Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP).
Can anyone help me out? I'm losing-out on valuable investing time because I don't know where to start. Can someone please point me in the right direction? *Thank You*
I can't wait to be a millionaire! My husband was that guy that set money goals. He started his own business in 2001. The first year in business he lost money. I kept us afloat. Each year he would set a income goal. He always met it. We have a six figure income and working on being debt free. We built our house with no loan. Three cars paid off. Our only debt is our boat, a camper and a memorial car we bought after our son passed. 😢
Oh wait, hang on. My house and three cars are paid off. My house is worth $600,000. I have a paid off suburban and a paid off Jeep Wrangler.
Oh I have so many questions now....
The best show.
medical doctor here- just be very careful consuming all this creatine and protein. make sure to get routine labs to check your liver. I have had some of my patients destroy their liver by consuming creatine and protein.
Give Lindsay a drink guys, come on! She's like "is it sweet?" 😅
I need y'all to talk about the Royal Caribbean Ultimate World Cruise... it's so the rage on the socials
I’m so glad I watched to the end 😂
We need an hour at least y’all. MORE
I wish y'all would do an hour long or a marathon episode.
It was great ! :D Loved the ending, I couldn't stop laughing for a while. 😅
Super super super super loved this episode! I’m listening to it, so I’ll be a millionaire I was told and I’ll bank on that! (And am putting in the hard work) And the attempt towards Miley Cyrus, at the end was hilarious! I was so frustrated, listening to her!!! 😅😂🎉🎉🎉
As a french listener, I can't tell you how much I struggled and then laughed, about the "kir royal" 😂👑
George, dumbbells and an incline bench is all you need. Plenty of youtube videos to demo workouts. Better than paying for a membership.
I am literally shedding tears at this ending! 🤣🤣🤣
French listener here! « Kir » 😂😂😂😂😂
That ending was great!! 😂
I was listening to this while driving so I didn’t even see the meme at the end but I was laughing at everyone else laughing 🤣 You guys turn me into such a cheerful driver haha.😂
Great Point--max out Roth IRA at beginning of year.
Listened to this episode in the podcast and immediately came here to ask this question. Baby step 4:.Your website states in one location that the 15% is based on your gross income. Another section of the website states it is the net (or after taxes) that you base the percentage on. I know in the end it comes down to just doing something but if we’re going to follow the plan to the T, which one is it? Thank you so much for everything you’re doing!
How can this be a happy hour when the show is only 39:37 long?
Ooh! I LOVE Reddit, and you! You should have someone else do a deep dive for you to give it a try. Protect the mental health first!
I’d be interested in your take on bad Reddit financial situations lol
So so fun!
I so rarely hear anyone talk about the difference between being a millionaire as a married couple vs someone who is single. If my wife and I are married and have a net worth of $1 million, it doesn't seem unreasonable that we each have a net worth of $500k. In the episode its mentioned there are 24 million millionaires in the USA. If my wife and I have a $1 million net worth, do we count as 2 people who are millionaires? It doesn't seem that way. It DOES SEEM LIKE I AM BEING A DEBBIE DOWNER ABOUT THIS. But it feels like a reasonable thing to bring up. As is mentioned once in the episode, I think we just need to more actively say "household millionaires", or "millionaires as a couple".
If you are married it's likely that over 50% of your household expenses are shared. It's much more expensive for 2 single people to live separately
I had a minivan from 16-19 years old. I’m sitting here in my suv (I like at home so I also have access to my moms larger car and my dads smaller convertible) dreaming of the day I can buy a minivan like my 2010 Chrysler Town and Country again. I am so on Rachel’s side
Can you do an episode with examples (because I know each job has different websites) on how do you literally invest your 401k? Hoping to hit BS4 this 2024!!!
I like how Rachel always drinks her drink faster. ❤😊
Rachel should model for some J Crew clothes!🌟🌟🌟
When that guy won I was walking up the stairs to go to my bedroom. I stopped to hear the lady question and when he used the lifeline I was rolling! That is 100 percent the only time I had ever watched any of that show
Haha I was wondering why the drink was called a “royal war”. The first word was hard to figure out - thought an attempt at “Guerre” until the “Kir” showed up.
Flexing began since then dawn of time.
Who needs goals when you have Rachel's life?😂😂
When Rachel said that she doesn't think a number is a goal, made me take a step back, because I've always been taught the requirements for a goal are: specific, measurable, attainable, realistic, and time-based. (S.M.A.R.T. goals)
So saying you want to be a millionaire by 40, fits exactly the definition of a goal.
Maybe it’s the difference between a short term goal and a life goal? Like how do you have a goal to say… be a good husband? Or more polite? Idk. Interesting thought
Yes you're right, it is a goal. I think she's saying that a certain number shouldn't necessarily be your goal for fulfillment in life. Money, after all, is a tool. So you would never make a goal to have tools and never know what you're going to use your tools for.
It is A goal for sure.
@@Davefitz04 How do you measure being a better husband or being more polite? Those are not specific or measurable, therefore not goals. Now saying I'm going to help every little old lady I see crossing the street tomorrow. Would be a goal, as it's specific and measurable (as well as attainable, realistic, and time bound)
@@ddraissI agree. Those are ambitions. You can have the ambition to be a better person…but what does it really mean? If the meaning can be different to different people, it’s not a defined goal.
We set a goal to have our home paid off within 10-12 years when we purchased it. We met that goal. That’s a fact. No one can deny that our home was paid off in that period. They can disagree with it, but it doesn’t change the fact that it was done.
Further to that….i believe the comment in the video was meant more along the lines of “Don’t set a goal to become a millionaire, when what you really are looking for is freedom.” Our net worth is currently just over $1 million, and we have no debt. We could sell everything we own, and buy a $2 million home and still have a $1million net worth…but now we’d also have $1million in debt sitting over our head. Same net worth number in the end….but a far different picture looking forward. In one situation, we are completely free, and our income is all ours. In the other, we have major debt commitments every month, and our income is virtually all eaten up with no margin to spare. On paper though, they seem very similar.
Uhm Abercrombie jeans are amazing, Rachel knows what’s up
Question: are we only allowed to invest 15% of our income or can we put more?
Rachel which creatine do you use? 😊
I'm going to be the Debbie Downer troll here. I think a lot of paper millionaires out there may lose that status this year as the houseing market comes down. I don't think the home you live in should be 100% counted towards your net worth. Any profit you make when you one day retire and sell it will likely have to be taxed, and the 6% commission is also lost. Also, you shouldn't count the entire 401k if you are going to have to pay taxes on the distributions one day when you take it out. To be accurate, you should remove taxes and commissions from property and investments to get you your real net worth. If you had to sell everything today and start renting or go into assisted living, what you have left should be your net worth. (Over a million Americans just lost their millionaire status 😢) And no, I'm not a sour broke person, just saying it how I see it. 😅
You all made me laugh 😂 thank you.
Truly enjoy these episodes - todays really made me laugh- can’t imagine what the world thinks as they see a solo walker smiling - laughing solo