Can I Become A Billionaire?

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  • čas pƙidĂĄn 2. 02. 2022
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Komentáƙe • 482

  • @TheRamseyShow
    @TheRamseyShow  Pƙed 2 lety +5

    Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt

  • @greekmom
    @greekmom Pƙed 11 dny +128

    My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. Living within your means and living a frugal lifestyle is the first step to financial independence. I just hit the one million mark last year, cheers to everyone striving to get there someday.

    • @greekmom
      @greekmom Pƙed 11 dny +1

      Varied sources of income is wise and especially living within your means. My net worth is over $1M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.

    • @TylerofSc004
      @TylerofSc004 Pƙed 11 dny

      This intrigues me. I've looked up financial advisors online, but finding one to connect with is a bit difficult. Do you mind if I ask for your recommendation?

    • @TylerofSc004
      @TylerofSc004 Pƙed 11 dny

      Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

  • @BunkMasterFlex77
    @BunkMasterFlex77 Pƙed 2 lety +531

    Caller: how do I become a billionaire
    Dave: what's your income
    Caller: $15/hr
    Dave: good lord

    • @lukecole6203
      @lukecole6203 Pƙed 2 lety +66

      Caller: I also have $153k of student loan debt for my history degree

    • @MrBellyman128
      @MrBellyman128 Pƙed 2 lety +66

      Good lord, sell the cat

    • @lukecole6203
      @lukecole6203 Pƙed 2 lety +35

      @@MrBellyman128 Dave: How much is your car worth?
      Caller: ummm about 65000 but I owe 70000 on it
      Dave:............you know that was dumb right?

    • @Anonyme67
      @Anonyme67 Pƙed 2 lety +4

      😂😂😂😂

    • @TheAhmedvienna
      @TheAhmedvienna Pƙed 2 lety +11

      @@lukecole6203 not in history.. Left hand puppetry... 😂

  • @ThomasLSilva2
    @ThomasLSilva2 Pƙed 10 dny +116

    I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 30k in crypto and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.

    • @JoyceRLavigne
      @JoyceRLavigne Pƙed 10 dny +1

      Am a newbie in crypto investment, please can you guide me through on how you made profit?

    • @ThomasLSilva2
      @ThomasLSilva2 Pƙed 10 dny +1

      As a beginner investor, it’s essential for you to have a mentor to keep you accountable.
      Antonio Alex is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

    • @RooseveltDDunn
      @RooseveltDDunn Pƙed 10 dny

      Yeah Alex was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Alex Antonio. He is my number one source when it comes to crypto and TA.

    • @JoyceRLavigne
      @JoyceRLavigne Pƙed 10 dny

      Mind if I ask you to recommend how to reach this particular coach you using their service?

    • @ThomasLSilva2
      @ThomasLSilva2 Pƙed 10 dny

      he's mostly on Telegrams, using the user.

  • @Dylan-gr2vm
    @Dylan-gr2vm Pƙed 2 lety +169

    Mark Cuban once said that to become a billionaire requires not only business skills, but it also takes an incredible element of luck. He said that he himself got lucky that he became a billionaire because he sold his company to Yahoo right before the big crash in 2000.
    He also said that he had no doubt that he would become a millionaire one day, but to become a billionaire he most likely wouldn't have made it had he not been in the right place at the right time.
    I think he nailed it spot on.

    • @iamkyros2233
      @iamkyros2233 Pƙed 2 lety +6

      I can imagine most billionaires saying it is luck, but in all honesty it's just the knowledge of doing things 'at the right time' , sometimes it comes subconsciously and we don't notice it. However, the harder you work, the luckier you get. Law of averages at its best.

    • @fyemusicplug6486
      @fyemusicplug6486 Pƙed 2 lety +1

      @@iamkyros2233 thank you, we create our own luck.

    • @jaybah836
      @jaybah836 Pƙed 2 lety +3

      You need a team to become a billionaire...

    • @jer3887
      @jer3887 Pƙed 2 lety +1

      Certain amount of luck... but you still have to be in the position to sell your company to Yahoo. For most people, Yahooo don't wanna buy your company.

    • @lolwtnick4362
      @lolwtnick4362 Pƙed 10 měsĂ­ci

      yeah and born with a silver spoon with a small loan of 100k or a million.

  • @yaserchow
    @yaserchow Pƙed 2 lety +100

    If you want to become a billionaire, you need to solve a big problem.

    • @hawkkent
      @hawkkent Pƙed 2 lety +18

      Or a small problem for a lot of people, many times

    • @celdur4635
      @celdur4635 Pƙed rokem +8

      @@hawkkent That's a big problem.

    • @lombardo141
      @lombardo141 Pƙed rokem +5

      Or steal lol

    • @acquitz2208
      @acquitz2208 Pƙed rokem

      @@lombardo141 examples?

    • @lolwtnick4362
      @lolwtnick4362 Pƙed 10 měsĂ­ci

      ​@@acquitz2208easy. warren Buffett. go read how he stole golf equipment from his job and sold it.

  • @vinceballou77
    @vinceballou77 Pƙed 2 lety +105

    One thing I have noticed reading biographies of billionaires is that most of them have been focused on a vision for over 20 years. Example Phil Knight worked at PwC as an accountant and was in the Army reserves while founding Nike. (Referenced in his biography Shoe Dog). In Phil's biography, he also stated that founding Nike came at high price to his family. Everything comes at a cost.

    • @philmarsh7723
      @philmarsh7723 Pƙed 2 lety +3

      And luck.

    • @Excalibur2
      @Excalibur2 Pƙed 2 lety +10

      What are the chances that this is all confirmation bias? I mean, how many Billionaires who inherited billions in stock are going to write a book about having it handed to them
      That is, the only books about billionaires will talk about vision because anything else is boring and aggravating.

    • @logicsandtrolls3616
      @logicsandtrolls3616 Pƙed 2 lety +5

      The thing is once you become a billionaire there are a lot of fakery that gets added to your aura. Every company founder has a story that many a times is just plain bs.

    • @logicsandtrolls3616
      @logicsandtrolls3616 Pƙed 2 lety +8

      @@Excalibur2 this is so true. Imagine middle eastern oil prince writing a book on how he became billionaire. It would be just two sentences. "I was born. I killed other brothers."

    • @yogalyfe
      @yogalyfe Pƙed měsĂ­cem

      ​@Excalibur2 it wouldnt take much looking to find out if someone was given their millions or if they earned

  • @jeremyclee
    @jeremyclee Pƙed 2 lety +37

    100% of the Forbes 400 would have used debt to help them build their businesses

  • @melanieb2132
    @melanieb2132 Pƙed 2 lety +36

    Errr.. people who become billionaires were NOT passionate about becoming billionaires.. they were passionate about their product.
    To this guy, NO, you will not be a billionaire.. unless inflation gets you there. 😂

  • @BagsNBaguettes_327
    @BagsNBaguettes_327 Pƙed 2 lety +117

    Very difficult to be a billionaire. Business 101- you need to provide something in the marketplace that has a competitive advantage and everyone can access, especially the middle class.

    • @alinatamashevich3354
      @alinatamashevich3354 Pƙed 2 lety +3

      Sears, oh wait....Amazon!

    • @TuBui2
      @TuBui2 Pƙed 2 lety +6

      It's largely about scalability. Technology is one of the few sectors where you can scale up fast and for low(er) admin costs.

    • @AJohnson0325
      @AJohnson0325 Pƙed 2 lety +1

      @tu boi
especially software/computer programming. It’s really easy to scale. Kevin O’Leary, Bill Gates, the guy that started oracle, mark zuckergerg, the google guys and probably a lot more.

    • @lolwtnick4362
      @lolwtnick4362 Pƙed 10 měsĂ­ci

      ​@@AJohnson0325lol you mean Larry Ellison? who bought the island of Lanai and kicked out all of the natives for his friends?

  • @dangerclose1
    @dangerclose1 Pƙed 2 lety +45

    The real question is would you want to do what it takes to become a billionaire
I.e. working 100 hrs a week for 20-30 years with very little breaks.

    • @intensifier2182
      @intensifier2182 Pƙed 2 lety +12

      Yes and allow everything in your life that can bring actual fulfillment to fall by the wayside.

    • @BrezzyBoi33
      @BrezzyBoi33 Pƙed 2 lety +6

      You just have to exploit low paid workers

    • @droptozro
      @droptozro Pƙed 2 lety +4

      Yeah exactly. I'm always reminded of the story of the fisherman and the businessman.

  • @CycleCruza
    @CycleCruza Pƙed 2 lety +21

    Your real wealth is your health. Many people are realizing that right now.

  • @martylts
    @martylts Pƙed 2 lety +49

    Bill Gates has said in many interviews that he had no intention of becoming a billionaire. He liked software. It was almost a coincidence that it became so valuable.

    • @markg999
      @markg999 Pƙed 2 lety +16

      I'm going to guess most billionaires are just following passion and were very gifted individuals. Becoming a billionaire was the bonus to what they were doing.

    • @scottwyatt4988
      @scottwyatt4988 Pƙed 2 lety

      yet he's a mouthpiece for certain political views destroying our country imo. if you're following Ramsey long enough you know what he really believes; and he's buying up ALL the farmland while continuing to espouse cancerous views destroying our culture.

    • @tracygaluszynski1868
      @tracygaluszynski1868 Pƙed rokem

      Or steal someone else's idea like Gates and Zuckerberg.

    • @WhatIsThis-zq4hk
      @WhatIsThis-zq4hk Pƙed rokem +3

      His well connected parents made microsoft successful

    • @lolwtnick4362
      @lolwtnick4362 Pƙed 10 měsĂ­ci

      totally. and he visited Epstein island 27 times.

  • @carscoffeeandmischief
    @carscoffeeandmischief Pƙed 2 lety +45

    Caller: I just went through your financial peace university so I can get out of debt. now, how do I become a Billionaire?
    This guy was so pumped after the course, he was ready to skip thousener and millionaire status.

  • @imveryhungry112
    @imveryhungry112 Pƙed 2 lety +15

    You have to be the founder of a successful business. Even people who work their way to become the CEO of a large company only make a few million a year. Thats not enough to become a billionaire.

  • @adamseidel9780
    @adamseidel9780 Pƙed 2 lety +41

    For some reason I’m skeptical this caller has a chance to become a billionaire.

    • @matthewgardner2144
      @matthewgardner2144 Pƙed 2 lety +6

      Or even out of debt or his minimum wage existence. He's not a hard worker, he's a dreamer.

    • @adamseidel9780
      @adamseidel9780 Pƙed 2 lety +2

      @@matthewgardner2144 yeah, uh, that’s not what I meant at all.

    • @matthewgardner2144
      @matthewgardner2144 Pƙed 2 lety

      @@adamseidel9780 yeah, um, ok.

  • @dr.bradshaw
    @dr.bradshaw Pƙed 2 lety +152

    I am healthy, have a wonderful family and I am free every day. That’s a multi billionaire in my book.

    • @jaygrenham
      @jaygrenham Pƙed 2 lety +11

      Best post yet!!!! I agree.

    • @time4advancement244
      @time4advancement244 Pƙed 2 lety +11

      You must be a Broke American with that statement.
      Get on the rice n beans, beans n rice...

    • @jeanlenor1858
      @jeanlenor1858 Pƙed 2 lety +6

      That's broke people talk. You can't live in the richest country of the world and have a poor mindset. Having money doesn't mean youre not happy and have a wonderful family.
      Stop being lazy!

    • @dr.bradshaw
      @dr.bradshaw Pƙed 2 lety +1

      @@jeanlenor1858 😂😂

    • @DagnirRen
      @DagnirRen Pƙed 2 lety +3

      @@jeanlenor1858 you sound like a sociopath. The guys is just making a corny statement that has a but of truth, Money isn’t everything.

  • @yourgooglemeister6745
    @yourgooglemeister6745 Pƙed 2 lety +68

    Future billionaires sure AF dont call into a radio show!

    • @jesuslover5968
      @jesuslover5968 Pƙed 2 lety +4

      Right đŸ˜‚đŸ˜‚đŸ€ŁđŸ€ŁđŸ€Ł look at Elon that man made his companies his life he’s said himself no human should ever have to work that hard just to keep his companies alive

    • @MrRadical87
      @MrRadical87 Pƙed 2 lety +4

      We certainly don't...

    • @tracym8952
      @tracym8952 Pƙed 2 lety +1

      That's like saying billionaires don't watch CZcams. Use anything that's free

    • @JeanValjean875
      @JeanValjean875 Pƙed 2 lety +1

      lol What? Like radio shows are inherently bad or something? đŸ€Ł

    • @colmwhateveryoulike3240
      @colmwhateveryoulike3240 Pƙed 2 lety

      Why?

  • @matthewgardner2144
    @matthewgardner2144 Pƙed 2 lety +15

    Jordan: first rule of becoming a billionaire is to stop uptoning. Second is to provide something of value to society. Third is to leverage.

  • @henryyaboy
    @henryyaboy Pƙed 2 lety +32

    I think the idea that someone did nothing and became wealthy is based on the reality of generational wealth and how some people end up getting a financial head-start (and also a head-start typically in understanding financial basics like savings & investing) because of that. Generational wealth + skills + motivation does put people ahead.

    • @josephburton3232
      @josephburton3232 Pƙed 2 lety +9

      Exactly! A lot of these people who are billionaires might not have inherited their money but they did come from pretty privileged backgrounds that afforded them opportunities that a lot of us don't have. Bill Gates is pretty open about his background and how his families wealth gave him opportunities that most people didn't have. He was also insanely brilliant from a young age.

    • @thecurrentmoment
      @thecurrentmoment Pƙed 11 měsĂ­ci

      Starting your working life off with nearly a million, or close to that, means a billion is much more reachable.
      Each generation can get onto the next step up using generational wealth IF they don't blow it and lose that wealth.
      Old rich
      E.g. Dave's kids are not starting off at the same place as he did, so if he gave them or their kids a million dollars, they could maybe become billionaires. Easier than it would have been for Dave to. But they still have to successfully build and manage their wealth

  • @marshall2.015
    @marshall2.015 Pƙed 2 lety +43

    If your goal is to become a billionaire, you won't make it. People that have the goal of providing a valuable product or service to hundreds of millions of people are the ones that become billionaires.

    • @alinatamashevich3354
      @alinatamashevich3354 Pƙed 2 lety +1

      The work on the front end is enormous.

    • @intensifier2182
      @intensifier2182 Pƙed 2 lety +2

      And if you are on that purpose you don’t have the time or thought to ask “how to be a billionaire”.

    • @leroygeorge352
      @leroygeorge352 Pƙed 2 lety +3

      I disagree, there are a lot of investors that have become billionaires.

  • @MartianAmbassador69
    @MartianAmbassador69 Pƙed 2 lety +105

    To be a billionaire, you need to provide something extremely valuable. Like be a successful businessman, or athlete, or entrepreneur.

    • @blackonblack...9244
      @blackonblack...9244 Pƙed 2 lety +17

      Yep, need to contribute something to society that is missing.

    • @ne9835
      @ne9835 Pƙed 2 lety +1

      Pretty much.

    • @AlexanderSagal
      @AlexanderSagal Pƙed 2 lety +15

      Athlete billionaires are even a stretch. Modern day sports contracts may produce more (Patrick Mahomes comes to mind) billionaires in the future, but it won’t expand by the hundreds.

    • @NWOALERT
      @NWOALERT Pƙed 2 lety +6

      Even beyond that. Plenty of those people with net worths in the 100's of millions who don't reach a Billion.

    • @1jw298
      @1jw298 Pƙed 2 lety +5

      You need to be part of the one world order top dogs.

  • @ZRO777
    @ZRO777 Pƙed 2 lety +11

    Great question and great insight. Thank you, Dave.

  • @Ryan_DeWitt
    @Ryan_DeWitt Pƙed 2 lety +14

    How about set yourself a goal to become a millionaire, then a multi-millionaire after that. Then possibly set a goal of being a billionaire. That's like saying my goal is to win the Tour de France before you win a single local city bike race.

  • @talyahr3302
    @talyahr3302 Pƙed 2 lety +80

    To become a billionaire you have to provide, what I call, an "inevitable need". There's very few opportunities for these because they only come up in the gaps of big society changes. For example, Elon Musk did this twice. People think of him as the Tesla guy, but forget he founded PayPal. It was inevitable that society would need a digital money transferring product with the creation of the internet. Then he did it again with the electric car which is an inevitable product. Jeff Bezos did the same thing. An online marketplace to purchase products digitally was always inevitable once the internet was created. No matter what timeline you go to, there's going to be a billionaire that made the car, electric car, railroads, online marketplace. It's not about being creative. In fact it's the opposite. It's about fulfilling a huge inevitable need. If you see an opportunity like that, go full force. Unfortunately you can't create those opportunities, they have to present themselves based largely on timing and the ability to act on that opportunity.

    • @alinatamashevich3354
      @alinatamashevich3354 Pƙed 2 lety +5

      Well said! Right place, right time.

    • @jasonwill5949
      @jasonwill5949 Pƙed 2 lety +2

      I disagree. It’s multiple factors and being creative can certainly be one of them. Also using leverage whether it’s debt, people or persuasion. Most billionaires have thought of something most people were not thinking at the time. So they did create their own opportunities.

    • @alinatamashevich3354
      @alinatamashevich3354 Pƙed 2 lety +4

      @@jasonwill5949 Did you ever notice that the whole idea is to get others to work and make the owner money? Never saw one mention of Wal-Mart here, biggest employer in the world. making billions off of low paid , part time workers. Feel free to cry to Alice.

    • @alp.9672
      @alp.9672 Pƙed 2 lety +4

      @@alinatamashevich3354 yea to be a billionaire you have to be a scumbag

    • @DavidRamseyIII
      @DavidRamseyIII Pƙed 2 lety +3

      @@alinatamashevich3354 don’t have children

  • @senorhook2872
    @senorhook2872 Pƙed 2 lety +52

    Dave and caller: *having an intriguing conversation*
    Caller: did any of these billionaires use fi-
    Dave: *ends call*

    • @sohd2283
      @sohd2283 Pƙed 2 lety +2

      What was he gonna say?

    • @umsamudz
      @umsamudz Pƙed 2 lety +8

      @@sohd2283 he was probably going to say "financing". Dave is not too keen for that.

    • @sohd2283
      @sohd2283 Pƙed 2 lety +1

      @@umsamudz ahhh gotcha thanks

  • @TheFirstRealChewy
    @TheFirstRealChewy Pƙed rokem +3

    Want to become a billionaire? Create a company that create a lot of value and scales very well.

  • @MrNGTfan123
    @MrNGTfan123 Pƙed 2 lety +22

    I’m not saying it’s right or wrong but You would be hard pressed to find any billionaires who didn’t use some form of debt to grow their business. That’s reality, with that said you don’t need debt to become a millionaire and I think it’s a way more realistic goal than becoming a billionaire, for most people that’s a delusional goal.

    • @stefancoban59
      @stefancoban59 Pƙed 2 lety +7

      The caller is nuts. There is no need to aspire becoming a billionaire. He should just enjoy life and be financial responsible.

    • @startuptrevor
      @startuptrevor Pƙed 2 lety +3

      Yeah I agree many of them probably did, but I bet there's also a decent amount who financed their businesses mainly through the sale of equity. Either way, it's probably extremely rare to see a self-made billionaire who didn't have to use some sort of outside funding.

    • @alinatamashevich3354
      @alinatamashevich3354 Pƙed 2 lety +1

      @@saulgoodman2018 And you would be wrong again Saul!

    • @isaacdelaney4442
      @isaacdelaney4442 Pƙed 2 lety

      @@stefancoban59 it’s nuts do aspire to be a billionaire? Your nuts! Don’t try to put down the ambitions of others because there larger than yours.

    • @stefancoban59
      @stefancoban59 Pƙed 2 lety

      @@isaacdelaney4442 he has delusional written all over his head. Btw no billionaire would call Dave Ramsey for advice

  • @ryanl3812
    @ryanl3812 Pƙed 2 lety +31

    If you need to call Dave to ask how to become a billionaire, you probably need to adjust your goal.

  • @markmurrell1894
    @markmurrell1894 Pƙed 2 lety +26

    " I have enough money to pay for a bridge to be removed so my yacht can get out to see" - Jeff Bezos

    • @ethanwild3301
      @ethanwild3301 Pƙed 2 lety +10

      'Sea' but he has enough to remove a bridge that's blocking his view too😂

    • @alinatamashevich3354
      @alinatamashevich3354 Pƙed 2 lety +5

      That is what they (those with money) do. Think about the people that are employed to pull that off. Problem is, most that complain only have signed the back of a paycheck, not the front. Let that sink in.

  • @RK831
    @RK831 Pƙed 4 měsĂ­ci +2

    Nobody has ever become a billionaire through saving money.

  • @epicgaming4946
    @epicgaming4946 Pƙed 2 lety +207

    You can definitely become a millionaire without using debt but I would guess becoming a billionaire without using debt is next to impossible.

    • @Michael-vf2mw
      @Michael-vf2mw Pƙed 2 lety +28

      Yeah, I find Dave's claim that there is no connection between finance and billionaire status questionable.

    • @Mathis218337
      @Mathis218337 Pƙed 2 lety +9

      You need to start a big company

    • @rpracingproducts
      @rpracingproducts Pƙed 2 lety +9

      It depends on what you consider debt, if you raise money from investors, is that debt?

    • @epicgaming4946
      @epicgaming4946 Pƙed 2 lety +17

      @@rpracingproducts Are you obligated to pay back said investors? If there is a contract stating you have to pay back the investors I would say yes that's debt but if they are just giving you money hoping to get a ROI than no it's not debt.

    • @bcyc2004
      @bcyc2004 Pƙed 2 lety +10

      No you don’t need debt to be a billionaire either. What you need is investment that’s different than debt.

  • @markg999
    @markg999 Pƙed 2 lety +18

    Realistic answer is no. A future billionaire isnt calling in a radio show asking such questions...but are busy working nonstop on something that is revolutionary.

  • @doubleaz1234
    @doubleaz1234 Pƙed 2 lety +47

    Anything is possible. I learned that the hard way.

    • @MrNGTfan123
      @MrNGTfan123 Pƙed 2 lety +5

      Statistics say otherwise but sure being aspirational and believing anything is possible is better than not.

    • @superblump87
      @superblump87 Pƙed 2 lety +9

      @@MrNGTfan123 statistics say many things are improbable, not impossible. Sit down small man.

    • @miketheyunggod2534
      @miketheyunggod2534 Pƙed 2 lety +1

      You couldn't be more wrong.

    • @doubleaz1234
      @doubleaz1234 Pƙed 2 lety +4

      @@miketheyunggod2534 what you mean? This universe is wild and unpredictable. What has been your experience?

    • @richsamuel2922
      @richsamuel2922 Pƙed 2 lety +3

      After all there are footprints on the moon...

  • @joefunk76
    @joefunk76 Pƙed 2 lety +17

    One man came to Mozart and asked him how to write a symphony. Mozart replied, “You are too young to write a symphony.” The man said, “You were writing symphonies when you were 10 years of age, and I am 21.” Mozart said, “Yes, but I didn’t run around asking people how to do it.”

    • @joefunk76
      @joefunk76 Pƙed 5 měsĂ­ci

      @@user-js5oo6nq2q !

  • @marky4573
    @marky4573 Pƙed 2 lety +9

    I'm a Zimbabwean Billionare.

  • @kathryntubridypakenham2743
    @kathryntubridypakenham2743 Pƙed 2 lety +4

    A lot of billionaires were able to use connections and funds given by their parents. Just because they didn’t inherit hundreds of millions doesn’t mean they started from nothing

  • @josephsantangelo2801
    @josephsantangelo2801 Pƙed 2 lety +5

    This is a ridiculous call. Become a millionaire or build an industry or create a need then call back bro.

  • @BrandonMinguez
    @BrandonMinguez Pƙed 2 lety +13

    Can you? Yes, but it takes years of passion to build something to get a business that strong.

  • @karimbennett5651
    @karimbennett5651 Pƙed 2 lety +9

    Why do broke-as-a-joke people waste time sitting around asking these stupid pie-in-the-sky questions. Yes, you could be a billionaire, but it is about as likely as winning the mega-millions. Go back to work!

  • @littleripper312
    @littleripper312 Pƙed 2 lety +5

    This caller will never become a billionaire, they need to just focus on becoming a millionaire. Billionaires dont plan to become billionaires, it's a consequence of them being great entrepreneurs and innovative. That level of entrepreneur is not something anyone can just choose to become. It's like the NBA of business, it's handwork but theres a genetic element to it also and if you aren't already doing entrepreneurial things you definitely don't have it.

  • @mcleananderson4948
    @mcleananderson4948 Pƙed 2 lety +9

    Possible but unlikely, even billionaires rarely can replicate that success.

    • @Rashaadthegr8
      @Rashaadthegr8 Pƙed 2 lety

      So is being debt free only 20% of Americans are.

    • @epicgaming4946
      @epicgaming4946 Pƙed 2 lety

      Where did you get that idea? I think if the average billionaire could restart at 18 yrs old they would be able to get there much quicker with everything they've learned threw making there first mil

    • @mcleananderson4948
      @mcleananderson4948 Pƙed 2 lety +1

      @@epicgaming4946 interviews, I've listened to Mark cuban, he said he wasn't sure he could replicate it without a ton of luck. The fact most don't replicate it either.

  • @TyinAlaska
    @TyinAlaska Pƙed 2 lety +13

    Millionares work an entire lifetime.
    Billionaires create a thousand lifetimes' worth of work for others.

  • @gregoryyentz6241
    @gregoryyentz6241 Pƙed 2 lety +12

    A 65 year old who maxed out their 401k since 1987, with catch-up contributions and 10% growth, would have an account value of $3,185,194.60

  • @Cosmo87-
    @Cosmo87- Pƙed 2 lety +13

    The way inflation is going, being a billionaire might not be so out of reach in the future

  • @sammen89
    @sammen89 Pƙed 2 lety +10

    It’s not easy, but it’s simple. Persuade people to give you $1+ for a good/service (in profit, after all expenses)
 a billion times.

    • @senorhook2872
      @senorhook2872 Pƙed 2 lety +4

      You would need to sell one of those products every second for 31 and a half years.

    • @superblump87
      @superblump87 Pƙed 2 lety +1

      That might be one of the least simplest ways to become a billionaire considering it has never been done.

    • @sammen89
      @sammen89 Pƙed 2 lety

      @@superblump87 how do you categorize Amazon’s rise to compete with Wal-Mart. Making $1+ of profit a billion+ times


    • @superblump87
      @superblump87 Pƙed 2 lety

      @@sammen89 that is not how anyone would categorize Amazon's rise.

    • @jrwntctv8091
      @jrwntctv8091 Pƙed 2 lety

      @@superblump87 Very difficult to conclusively say it's never been done, this would probably be the 'silent billionaire' type that nobody knows is a billionaire

  • @righand
    @righand Pƙed 2 lety +5

    What a weird question from a guy that just took financial peace. Let’s take baby steps. Almost like a question a 8 year old asked his mom.

  • @Doksimon
    @Doksimon Pƙed 2 lety +2

    Anybody watching this video, GOD bless your hustle 👍

  • @camillo6788
    @camillo6788 Pƙed 2 lety +10

    It's easy to become a billionaire with hyperinflation ^^

  • @rathelmmc3194
    @rathelmmc3194 Pƙed 2 lety +5

    There’s no way for anyone to tell you how to be a billionaire. To be that financially successful you need to do the right thing at the right time, like Bill Gates with Microsoft. Then you need to work unreasonably hard and to have a bit of luck.

  • @mikederucki
    @mikederucki Pƙed 2 lety +7

    I just read that Tom Brady is only a half a billionaire. While anything is possible, let’s keep our goals realistic

    • @jimmay1988
      @jimmay1988 Pƙed 2 lety

      Michael Phelps became the 1st Athlete billionaire. All guys just settle for millionaire football/basketball players.

    • @mikederucki
      @mikederucki Pƙed 2 lety +1

      @@jimmay1988 I tried to find any source supporting your claim that Phelps is a billionaire - couldn’t find anything saying more than $80m.
      Michael Jordan was a billionaire before Phelps went to his first Olympics, so you’re way off on Phelps being the first athlete.

  • @dannyhantx
    @dannyhantx Pƙed 2 lety +1

    The caller had to have been a troll. Lol

  • @kbcinmedusn
    @kbcinmedusn Pƙed 2 lety +3

    It seems like the only mathematical way to become a billionaire is by starting a business with a million dollar startup and lots of potential to grow. Start by doing the seven baby steps. Then start doing the giant steps you need to take to become a billionaire from there. You need to build a platform and then build a business and position your business platform as a monopoly so that you drastically increase your chances of earning your first billion.

  • @MrGreg-dw3lv
    @MrGreg-dw3lv Pƙed 2 lety +10

    This [guy] Mr. Ramsey is simply Amazing. The Wisdom and Boldness that Ozzes thru him is Awesome.

  • @I_like_turtles_67
    @I_like_turtles_67 Pƙed 2 lety +6

    If I make it to mid 90s.
    I'll most likely be one and or very close. My children will be our 3rd generation of wealth. Parents started middle-class. Became multi-millionaires in their 50s. I am on the same trajectory as them. Between my parebts assets and mine producing/compounding. My children mathematically should become billionaires.

    • @irocitZ
      @irocitZ Pƙed 2 lety +10

      Hey, just putting it out there, by any chance, would you be interested in adopting a slightly older but youthful 40 something year old person? The good news is I don't eat much and probably wouldn't be living at home much longer, plus you wouldn't have to save up for my college.

  • @99CaNdYfLiP99
    @99CaNdYfLiP99 Pƙed 3 měsĂ­ci

    "there is no indication debt.." 😂😂😂😂😂😂😂😂😂😂

  • @DavidRoetman
    @DavidRoetman Pƙed rokem +4

    Dave is so humble. I can’t believe people haven’t figured out that he already is a billionaire (pretty sure). If you do the math, the business of Ramsey solutions is a 700 million dollar business
 okay, and he also states that half of his investments are in mutual funds and half is in real estate. He also states that he has “several hundred million dollars in real estate” soooo if you do the math he has already been a billionaire. He is just wildly humble and doesn’t flaunt it. He also probably gives more generously than most billionaires. He doesn’t flaunt that either.

    • @amireallythatgrumpy6508
      @amireallythatgrumpy6508 Pƙed 11 měsĂ­ci +2

      The real estate belongs to the business though so you've counted that twice. He's not a billionaire yet but will be in the next couple of years

    • @DavidRoetman
      @DavidRoetman Pƙed 11 měsĂ­ci

      @@amireallythatgrumpy6508 no I didn’t. He has 700 million in real estate and the other half in mutual funds. Plus, he was just interviewed by Hormozi and he states that he’s a billionaire.

  • @Myview246
    @Myview246 Pƙed 2 lety +4

    So many people are so determined to become billionaires nowadays. Its like why, is a couple of million not good enough??

    • @anthonyfonseca2417
      @anthonyfonseca2417 Pƙed 2 lety +1

      I could imagine after a certain point it becomes almost like a game. Like for instance Drake bet $600k on the Rams to win the super bowl. His life wouldn’t change a bit rather he won or lost the bet but he still bet. The higher the number becomes the higher you want it to get. This is just me taking a guess on the psychology of it. It’s the rush of accomplishing something and the feeling of winning.

    • @Myview246
      @Myview246 Pƙed 2 lety

      @@anthonyfonseca2417 ah that makes sense

  • @fhuber7507
    @fhuber7507 Pƙed 2 lety +6

    Possible? Yes
    Likely? No.

  • @jasmines.6325
    @jasmines.6325 Pƙed 2 lety +1

    I think people have forgotten the proverb " have mercy on the poor" everything is being put behind a payroll that is getting higher and higher

  • @Tr1Hard777
    @Tr1Hard777 Pƙed 2 lety +2

    To become a billionaire, you either need to create a company or use debt as leverage.

  • @mattdoeland
    @mattdoeland Pƙed 23 hodinami

    I love Dave & his mindset is focused on the 9-5mindset that will create a millionaire. A billionaire mindset is in a completely different stratosphere & both of these guys don’t quite get it. Love them though.

  • @jackamelar1455
    @jackamelar1455 Pƙed 2 lety +2

    Start with a Million

  • @michaelorrico4859
    @michaelorrico4859 Pƙed 2 lety +2

    There is not one billionaire in the USA that does not leverage debt.

  • @jamesfeeney7903
    @jamesfeeney7903 Pƙed 2 lety

    Wegmans Supermarkets is not Public also. (Rochester N Y)

  • @jamesstrickland2781
    @jamesstrickland2781 Pƙed 2 lety

    Dave Ramsey likes to say most millionaires are self-starters (i.e., did not inherit the wealth). It would be interesting to see what proportion of billionaires inherited wealth, and whether the percentage is higher. Prominent examples include the Walton family children and Saudi royals.

  • @jordangarrick669
    @jordangarrick669 Pƙed 2 lety +2

    Best advice Mr. Ramsey could give on this subject: forget it

  • @londoncandid5418
    @londoncandid5418 Pƙed 2 lety

    Opm is definitely involved. I don't think leverage is the only way though. Setting up a business is pretty much the only way though.

  • @TheMechanicj
    @TheMechanicj Pƙed 2 lety +3

    Why even post this even Ramsey is not a billionaire

  • @intensifier2182
    @intensifier2182 Pƙed 2 lety +11

    This guy needs to know that there are shorter routes to getting a girlfriend than becoming a billionaire.

  • @cybertrk
    @cybertrk Pƙed 2 lety +2

    At that point you’re a caretaker of economic velocity.

  • @texasboy5117
    @texasboy5117 Pƙed 2 lety

    You have to almost always start a great business which grows fast. Then take it public and enjoy the stock appreciation.

  • @stephenmccoy8005
    @stephenmccoy8005 Pƙed 2 lety +7

    I would have liked to of heard more on how Dave built such a large business without borrowing to do it.

    • @edgaruriarte
      @edgaruriarte Pƙed 2 lety +1

      I believe he started working I real estate before he made his own business.

    • @chriscrawl3732
      @chriscrawl3732 Pƙed 2 lety +5

      He's written many books

    • @Wraithguard92
      @Wraithguard92 Pƙed 2 lety

      "liked to of"
      Gross

    • @lynnebucher6537
      @lynnebucher6537 Pƙed 2 lety +3

      I think Dave got there incrementally, and he created a product that appeals to a large swath of the population, and is affordable to most people. It was a volume thing. And he keeps adding more to his collection of products and services sold.

  • @0neofthem
    @0neofthem Pƙed 2 lety +7

    Elon Musk will be humanity’s first trillionaire.

  • @Tailong
    @Tailong Pƙed 2 lety +2

    Most entrepenour billionaires, become billionaires as a byproduct of their success, but is never the goal, if you set out to make a million dollars you can achieve it in a lifetime(several times over in fact ) if you set out to become a billionaire the chances are pretty much zero

  • @harrison6082
    @harrison6082 Pƙed 2 lety +2

    Although everything he said was true.
    It wasn't very helpful.
    It doesn't give you a very clear path.
    Here's a more helpful answer:
    There are multiple blogs, channels, books, podcasts, speeches, interviews etc on how to get rich.
    My personal favorite channels are called This Week in Startups, Y combinator, Productivity Game, and Franchise City.
    There are many more you should look for online. (Not just on CZcams)
    I would start there and look to see what you are interested in or what clicks with you personally.
    Also there are tons of other places online that talk about this stuff (I know for certain with tech startups).
    Once you find something that clicks with you, I would start going down the online research rabbit hole.
    Oh yeah, beware some of the sources online give feel good and sound good advice.
    But don't really help or are just wrong or too company specific, and just waste your time.

  • @rolandoflores2806
    @rolandoflores2806 Pƙed 2 lety +14

    It’s impossible under Dave plan since you never take on any debt.
    Billionaires take out all sorts of loans for investments

    • @Spladoinkal
      @Spladoinkal Pƙed 2 lety +7

      yeah, you usually need leverage to increase your wealth at a fast enough rate to make a billion in your lifetime.

    • @uberboiz
      @uberboiz Pƙed 2 lety +1

      I don't think Warren Buffett used loans to make his billions - perhaps he used a little in his early days, but compounding return is the key for him.

    • @keithwisdom1663
      @keithwisdom1663 Pƙed 3 měsĂ­ci

      ​@@Spladoinkal
      They all got financing
      Dave could double his net worth with financing. Probably could get a 4to 7@ rate

  • @alan55super
    @alan55super Pƙed 2 lety

    To become a billionaire you have to provide the world such good value. I feel like people underestimate how much is a Billion dollars. I would be fine retiring with a 20 million dollar portfolio

  • @j.c.4192
    @j.c.4192 Pƙed 2 lety

    Chick fila where teenagers work there wear belts 😂

  • @waitstill7091
    @waitstill7091 Pƙed 2 lety +2

    "We hold these truths to be self-evident, that all men are created equal, that they are endowed, by their Creator, with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness." Thomas Jefferson

  • @fifthwardliquor9170
    @fifthwardliquor9170 Pƙed 5 měsĂ­ci

    We have no debt other than our house. No car payments. But we do have two kids in college which is making it difficult to
    Save. Any suggestion how to get through this without pilling on debt?

  • @dontreadthisnameoutloud1419
    @dontreadthisnameoutloud1419 Pƙed 2 lety +2

    Dave "Apple is not contributed to a single person." Neither is Microsoft!

  • @cgasucks
    @cgasucks Pƙed 2 lety +4

    If you have the drive, talent, creativity to create a product or service the world wants and do it with integrity (so you don't go to jail) one could be a billionaire.

    • @karimbennett5651
      @karimbennett5651 Pƙed 2 lety +1

      Or you could just win the sweepstakes over and over again.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl Pƙed 2 lety

      @@karimbennett5651 or you could have invested in bit coin when it was a penny.

    • @jml9550
      @jml9550 Pƙed 2 lety

      @@johnSmith-uz8nl even that is hard to gain 1000 million.

    • @johnSmith-uz8nl
      @johnSmith-uz8nl Pƙed 2 lety

      @@jml9550 There are plenty of bit coin billionaires.

    • @jml9550
      @jml9550 Pƙed 2 lety

      @@johnSmith-uz8nlSure.

  • @lukesammann1959
    @lukesammann1959 Pƙed rokem +1

    except for the fact that every single billionaire borrows money and uses debt

  • @cnjro
    @cnjro Pƙed 2 lety +1

    These are just numbers they don't matter. If you have 900 million you are not a billionaire though your quality of life is probably the same as. I read somewhere that after 50 million your quality of life does not really get much better above that.

  • @DavidRamseyIII
    @DavidRamseyIII Pƙed 2 lety +2

    I think Dave or at least his family overall are headed to a billion. At 300 million roughly now

  • @antoniofigueroa5084
    @antoniofigueroa5084 Pƙed 2 lety

    This is my favorite episode. Great question, brilliant answer.

  • @tidus9942
    @tidus9942 Pƙed 2 lety +1

    using compound interest becoming a billionaire is possible for me if I live to 110. Million is simply just not enough and I dont know why we act like it still is today. Thats small thinking. also roth IRAs do not have minimum distributions yet so it is possible to do it in retirement accounts.

  • @mr.universe1907
    @mr.universe1907 Pƙed 2 lety +2

    Why become a billionaire anyways? I get it if you wanted 10 or 20M, then you have all the freedom in the world, but what changes after 20M?

  • @bigbett440
    @bigbett440 Pƙed 2 lety

    Just move to Zimbabwe in 2007.

  • @dannymartial7997
    @dannymartial7997 Pƙed 3 měsĂ­ci +1

    To become a billionaire is easy. Just save a million dollars every year, and do that for 1000 years 😂

  • @oatmealtruck7811
    @oatmealtruck7811 Pƙed 2 lety +1

    I can’t imagine caring about having a billion dollars. I want financial freedom, and that probably means being a millionaire. I just don’t need that much.

  • @grantguy8933
    @grantguy8933 Pƙed 2 lety +1

    Dave needs to get a Tesla to smoke all his ice muscle cars axx.

  • @thomasmorrison3279
    @thomasmorrison3279 Pƙed 2 lety +1

    Chance is almost zero to become a billionaire.

  • @MWebb-de9pq
    @MWebb-de9pq Pƙed 2 lety +9

    There is debt on the books for every example Dave gave...

    • @MichaelAnderson-wk1no
      @MichaelAnderson-wk1no Pƙed 2 lety +3

      Dave doesn't teach people how to be billionaires. He has never claimed his plan will make you a billionaire. His plan is for the average person to become a MILLIONAIRE with little to no risk.

    • @matthewgardner2144
      @matthewgardner2144 Pƙed 2 lety

      And horrible business practices from most of them.

  • @all-stargamingentertainmen1157

    If you're smart, use wisdom, take educated risks, invest, create a business, charity, capitalize on every opportunity and supply a need.

  • @AmZayDie
    @AmZayDie Pƙed rokem

    The risk of not taking risk is so huge it costs you billions

  • @stevenlee5146
    @stevenlee5146 Pƙed 2 lety +1

    I giggle looking at some of these comments as if you know how to become a billionaire.
    Caller is stupid for calling in such a radio show when the host isn’t a billionaire himself.
    Best thing he can do Is read books written by billionaires and adapt their mindset.
    I am more than satisfied being a millionaire. Billionaire is not achievable.

  • @sassysilver4451
    @sassysilver4451 Pƙed rokem

    What is that button Dave presses, does he hang up?

  • @john-ic9vj
    @john-ic9vj Pƙed 2 lety +2

    These billionaires use debt to keep their lavish lifestyle, since majority of their wealth is in stock value, and would be taxed through the roof if taken out