This Is Not Investing, It’s Gambling! - Dave Ramsey Rant
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- Опубліковано 6 лют 2025
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Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 60% early this year. It is, in my opinion, the best way to get started in the industry right now.
Impressive! I admit I'm scared about retirement as I turn 50 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.
She goes by ‘’Rachel Sarah Parrish” I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Once upon a time, I was an eager investor. With high hopes and dreams, I diligently built my investment portfolio over the years. But as the tides of the market turned against me, my once-promising investments began to crumble. Stock prices plummeted, bonds defaulted, and my hopes faded away. With each passing day, my portfolio dwindled, mirroring the sinking feeling in my heart. I watched helplessly as my hard-earned savings vanished, leaving behind a lingering sadness and a stark reminder of the unpredictability of the financial world. I'm here again because I want to get back on track.I need ideas to get on on a recovery process.
Losses can provide valuable lessons and insights into the intricacies of the financial market. They can highlight areas where improvements can be made in investment strategies, risk management, or research. By reflecting on the losses and learning from mistakes, one can enhance their knowledge and skills, which can contribute to future success. I don;t have much to give but my thoughts are with you.
You can get back on track by following this simple process: Take stock of your financial goals, risk tolerance, and investment timeline. Understand your investment losses and the factors that contributed to the decline. This self-assessment will help you communicate your needs effectively to a financial advisor. Remember to seek the help of a professional financial planner(CPF) as you start over, which is what you should've done from the get go.
I'm sure the idea of an investment-Adviser might sound controversial to a few, but a new study by Motley-fool found out that demand for Financial-Advisers sky-rocketed by over 42% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 880k within 16-months from an initially stagnant Portfolio.
Trustworthiness is the issue: Entrusting someone with your finances requires a high level of trust. It can be difficult to determine if a financial advisor is reliable and has your best interests at heart. It's essential to find an advisor who operates with integrity and adheres to ethical standards. But you seem to have it all worked out good for you, so I’m by my screen waiting for your recommendation
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
My Investment and dividend journey began when I realized that two particular expenses in my budget were always going to go up and never go down. The two expenses were taxes and insurance. I realized that the dramatic rise in both will need some added income. So, I started buying shares paying dividends. I can now see that this will be the path I need to take to make sure those two expenses will not overtake my future income.
As a beginner, educate yourself, Learn the basics of investing and the stock market. There are many resources available online, including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk. I’ve heard of people accruing over $550k during recessions and inflation, its important to do your own research.
Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Thank you for this amazing tip. I just looked the name up and wrote her
up, to schedule a call. many thanks
Actually.....
There is a risk associated with "low risk" investments. It is called "opportunity risk". Also, let's factor in "inflation risk" for good measure. And don't forget Daves rant about retirement withdrawal rates, which entirely ignored "sequence of returns risk".
We had HYSAs 10 years ago, Dave. They just were called "e-savings accounts." Or online savings account. I had several of them. ING Direct, HSBC Direct, FNBO Direct, etc. There were dozens of them and most were called "(bank name) Direct." It's how I saved my 34% downpayment on my house. At one point during 2006-2008 they were paying 6% gauranteed for 6 months. With 3-day liquidity. They are slightly quicker now. Now you get 1-2 day liquidity, but the concept is the exact same.
i love when Dave lay outs the larger picture of his investment thesis.. it puts perspective and context around the advice that ppl generally get all riled up about.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Suzanne.
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week...
@@Donnafrank-k6e Suzanne Gladys Xander strategy has normalized winning trades for me also. and it's a huge milestone for me looking back to how it all started.
@@JamieParker-u9x Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading.
@@DrewTaylor-x4e As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
@@RyanBlake-o7b OMG is this same person that helped me Invested $2000 and after a week we received $7,500. That really helped us a lot to pay our bills. wow such a small world.
“Vegas is made on the backs of losers” that is HILARIOUS 😂
Speculation is a great game when you win and a merciless one when you lose. I pallet flip, and it is a speculative game with a decent amount of known quantities.
Let's talk about the risk involved with an 8% withdrawal rate
What is that.
lol
As long as you are making 11% its fine.
Add that to talking about just getting you one of those $1,000 cars, deliver pizzas stop and go in that $1,000 car, and with that pizza delivery money regardless of your debt kick up 10% to the church because it will no doubt come back to you in many ways. And it is always a good time to just pay cash for that real estate as it always just goes up up up. Oh and just pour your money into one of those easy to find 12% return growth stock mutual funds. He literally talks his book in finance terms.
@@kleindropperlol why not make 50% so you can withdraw 40%?
Dave you hit everything right on the mark you're teaching me an accountant stuff that I never really thought of
No he didn’t lol. Not even close. His methods will keep you doing fine, but never wealthy.
@@WOHM8274 I am a senior citizen that made all my money flipping houses and holding rental property I can tell you that the headaches that I've had with that has shortened years off my life. But let me say again your statement is 100% correct
Actually the first thing they teach you in finance 101 is the risk free rate = 3 month T bill rate. That said, The Risk Free Rate (rf) is the theoretical rate of return received on zero-risk assets, which serves as the minimum return required on riskier investments. The risk-free rate should reflect the yield to maturity (YTM) on default-free government bonds of equivalent maturity as the duration of the projected cash flows. Investment company of America mutual funds are not risk free.
I learned so much about dollar cost averaging. I got out of debt. I learned about compound interest. I learned all of this because of bitcoin and I stopped the cycle of debt and I stopped the cycle of shopping! You can say bitcoin is awful all you want, but it taught me everything I know about money and for the first time in my life, I feel like there’s a little hope! Bitcoin isn’t just the technology it’s a frame of mind. Is it high risk - yes - and I’m so grateful for finally know what wealthy people know.
Bitcoin is only high risk if you can't handle the volatility. If you can hold through a downturn or "crypto winter" which is typically 4 years, you're unlikely to lose. If you want quick profits, it's possible, but not advisable. HODL is a meme at this point, but it's the truth for any asset or investment.
Nope. What is the mutual fund that earns average 12.2%? S&P 500 only got 10.80%. If *ONE* fund earned that, it was just luck. Look up survivorship bias.
Some people think the fund he mentions is AIVSX. According to portfoliovisualizer, since Jan 1985, AIVSX and the S&P 500 have the exact same return. BUT, AIVSX has a 5.75% front end load. That means to invest $10,000 you have to give them $10,575. From 1985 to present, AIVSX grew to $713K whereas the S&P500 grew to $758K.
I actually entered vegas with 5$ and left with 40$ and haven’t gambled since 😎
I walked into Reno with $40 and left with $5. Never gambled again.
Gold is a short term play. - Dave ramsey.
Hahahaha
Buying silver and gold is easy, but it is renowned for stability during economic hard times like this. The main problem is investing in stocks, dividends and even cryptocurrencies to grow your portfolio.... I’ve been trying to grow my portfolio of $190K for some time now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
Right, I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
once you hit a big milestone, the next comes easier.. would you mind dropping info of your invt-advisor please? i'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance ..
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’Marisa Michelle Litwinsky” for the last five years or so, and her returns have been pretty much amazing.
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 call with her.
I love me some Dave Ramsey he literally saved my life and really changed my perspective on things ❤
Disses Bitcoin, BUT FIAT is what keeps people in chains. Few understand. Accumulate while you still have time...
Everything keeps people in chains dude.
Exactly right!! Keep stacking and HODLING!!
My boy Dave knows the difference between speculating and investing !
He says a risk pays more…. Well, more or nothing.
You know I'm born to lose
And gambling's for fools
But that's the way I like it, baby
I don't want to live forever
Cool song Ace of ♤ ... "The ting goes skrrrahh (Ah)
Pap, pap, ka-ka-ka (Ka-ka)
Skidiki-pap-pap (Pap)
And a pu-pu-pudrrrr-boom (Boom)
Skya (Ah)
Du-du-ku-ku-dun-dun (Dun)
Poom, poom
You don' know"
There are classes beyond 101. I have sold premium for years with high probability of success trades. Short options placed at about 45 DTE, managed at about 21 DTE. Very capital efficient.
Dave's niche is to repeat the basics to people who need them.
His intended audience aren't savvy about even using credit cards properly (having a nice rewards card and paying it in full each month and never paying interest). He steers them away from using them at all.
He has to write down, and they have to read and listen to, things like : Write down all your debts, pay all your minimum payments and pay a little extra on the smallest bill so it's gone soon and you feel the win...' It's not even 'pay extra on the highest interest rate debt'...he's not helping logical people. He's helping people with impulse control issues, and people who can't reason out how bad being in debt with high interest is for them.
I've seen someone about 20 years old, who had to be told to write down his debts, the interest rates, and minimum payments, and to pay them all plus extra on (in this case, his mother said to pay more on the highest interest rate one...the logical choice) one. He actually asked 'Who would think to do this?' and his father said 'Your mother...' as if it were some special knowledge. I was thinking 'what else would you do? why was your debt so nebulous and disorganized in your head?' He has a great job in trades and makes good money, but is still in lots of debt because he wants lots of things and doesn't care about being in debt and paying interest.
First time I hear Dave say Bitcoin is less risk than anything. 🤣🤣
He's warming up to it, we'll get him there.
Excellent Dave Rant segment 🎉
In 2022, the global net assets of US-based mutual funds were approximately $22.1 trillion. This is more than triple the $5.53 trillion in assets under management in 1998. It appears people are still putting money in Mutual Funds for those that say no one does
Good point. Mid-2021 it was USD 59.5 trillion globally. So, the US held only one-third of _global_ mutual fund assets. There was another USD 9 trillion in ETFs globally. Add in sovereign wealth funds, UITs, etc., and there was another USD 15 trillion in funds globally, for a total of over USD 80 trillion in global managed funds. And that was three years ago.
A more accurate explanation could be that if you are investing, you are providing Capital to contribute to Goods and Services being produced and delivered in some way. In speculation, the production part is left out of the equation to some degree. For example if you speculate in Roulette and win, you have more money than before but there's no new production or product in existence at the end of the transaction.
Great advice from Dave!!
Hello Jim! (.) (.)
Those aren't eyes....
Does anybody know what is the name of this mutual fund Dave always talks about that gets him 12.2% average since 1934??
@AlonsoalvarezMr If you listen carefully, you never hear him say that HE invested in this mutual fund. He just looked at the thousands of mutual funds that exist and found the one that hit the jackpot.
You have to pay one of his pros to find out. It's a secret.
No and nobody has verified his study of millionaires either
Is silver a good investment?
He’s talking about The Investment Company of America from American Funds.
I looked it up. Fund ticker is AIVSX. I downloaded returns 1934 to 2023, from Yahoo! Finance. I think 1934 was only a partial year. I found average return 13.57% per annum. The returns are based on changes in NAV (i.e., net asset value). So, I think they are after expenses. Current expense ratio of AIVSX is 58 bps (i.e., 0.58%).
Average return on S&P500 1934 to 2023 is 12.35% including dividends (using Damodaran's free Excel data files at his NYU web site).
AIVSX beat the S&P500 (SPX) in 46 out of 90 years. AIVSX underperformed in 44 out of 90 years. In 46 years of out-performance, the average out-performance (AIVSX over SPX) was 5.78%. In 44 years of under-performance, the average under-performance (AIVSX under SPX) was 3.54%. So, it was roughly a coin toss over whether AIVSX beat the SPX, but when it did, it did so by more than the magnitude of its underperformance in underperforming years.
My thinking about money has drastically changed lately, especially since I understand how to make profits from the stock market. I just might be leaving my day job soon. It's not gambling when you master risk exposure.
I agree. I started investing in 2020 after COVID. It taught me a lot about thinking of the future. In retrospect, that was the best move I did, and it's the fact that I don't sweat the day-to-day analysis of which stocks to buy.
That's really nice. I'm in my 40's now and want to start investing. Why do you not have to stress? I'm tired of being too careful and not making any progress.
The market is a really gold mine. I find startup investing to be very lucrative too, but it just takes time before your investment mature.
Ah, I actually work with a financial advisor, Sharon Lynne Hart. I'm not an expert myself. You could also look up for other financial advisors online.
I'm having some issues resolving my 401(k) problems and I need a financial advisor too.
I wholesale properties as a side hustle work a full time job and opened 4 high interest savings. FDIC insured at 5.41%. Might open more in the future those will be my retirement accounts let’s gooo!!!
Where are you getting 5.4%? A vanguard govt money market fund?
@@mattesser5027 Flagstar bank savings
I make 5.2% and 5.3% on my money market. That is where itsat. Fully fdic insured
@@Run4Ever77they are. Maybe do some research before you comment incorrectly.
@Ascendsean35 Vanguard's VMFXX money market fund is paying around 5.3% now. Schwab's Treasury money market fund is similar. You can probably buy them in your Fidelity account.
You are probably in a sweep account and not a real money market, money markets are never insured, sweep accounts are FDIC insured, move your money into multiple banks potentially and have similar gains to a mm, they are at most big brokerage firms, fidelity money manage, vanguard cash+ etc
@Ascendsean35 it's a bank. Republic Bank of Chicago and Vio Bank
@@Run4Ever77 Money market funds mostly consist of short-term government and governmental agency bonds. So both FDIC and money markets have the same counter-party risk (the government).
just some a harmless suggestion the laptop with all the decals doesnt look very proffessional.
Does anyone have the ticker for Dave's 12.2% fund?
no i don't think so. i love dave but with his 12% there is something strange.. why are so many people investing in inedx expecting 7% growth per year if its that easy and risk free to have 12%?
@@EnRsHeldhe is never going to say because that would be giving specific investment advice.
I invest in spec houses. I don’t consider it anything close to gambling. I still own a tangible asset if it doesn’t sell. You can’t say that with a stock.
I really needed this!! Thanks 🙏🏾
I rarely agree with Dave but here he is giving good info.
I want to go to the investing event but I don't want to pay for the same thing I can get free on UA-cam. I want to make sure I am getting some new information that is going to change my situation.
There is nothing life changing in investing information.
Dave's advice won't change. Save money and invest it in very simple mutual/index funds.
Or do a lot more work and get into real estate, which should pay you more to justify the harder work and more time and risk involved.
You shouldn't go unless you can easily afford it and it sounds like fun.
@@jamisojo Making $ is always fun and I can afford it but still asking.
Nah day trading and scalping is goldennnnnn when you learn how to read charts and have correct entries and exits
I honestly thought a spec house was made to "specifications". As in a non custom, plain jane home.
It is. Dave is completely wrong.
Dave is right about a spec house being one the contractor built on speculation. I suppose someone could use the term differently, but I've worked in banking for a long time. "Spec" homes are speculation.
That's what I thought too. "Specification." I.e. not custom
@@debbieholoquist2059 no it literally stands for specification. Homebuilders will pick a floorplan and predetermined features and put it on the market. Has nothing to do with speculation. Idk what Dave was talking about there
@@PepeToTheMooon3:40 "When a home builder builds a home that does not have a buyer, that is speculating."
Dave Ramsey is 100% correct and THIS is what HE means when he refers to this type of house building as a "spec house".
YOUR inference (that a "spec house" means a house built to custom specifications) may also be correct but that has never been the meaning of "spec house" that I understood.
What is the mutual fund Dave mentioned that has an12.2% average returns since 1934?
I'd like to know as well.
Dave never saw a gold chart?😂😂😂😂
This is a very very superficial explanation of these issues. I used to think that Dave was just dumbing things down for the audience but I’m increasingly convinced that he doesn’t have a deep understanding of what he is talking about. That doesn’t mean his advice isn’t valid, it’s just not valid for the reason he says it is. Take for example his trope about how Vegas is paid for by losers. Well in some sense, everything is paid for with money that people lost. Your church is paid for with money that people brought there and now don’t have anymore. So is your local grocery. It’s pretty naïve to go to Las Vegas and expect to net a positive return off of gambling games. But contrary to what Dave says, that does happen for many people and it’s not even rare. It’s just that the overall mathematics make it a long-term, losing proposition. In other words, if you play an infinite number of roulette spins, you’ll always lose. But no one plays an infinite number of roulette spins. In fact, the vast majority of people who gamble in Vegas only play a few dozen, or most a few hundred spins. If you look at the mathematics of this, that’s not even remotely close to a random sample. You could very well win. You could also very well lose a lot more than the expected long-term loss of 6%. The exact same mathematics applies to mutual funds, except that the infinite time horizon gain is (probably) a positive number rather than a negative number. You are almost certainly not going to get the historic average of your mutual fund. You might actually get more. Or you might actually get less. This deviation could be substantial. That doesn’t mean that you shouldn’t invest in mutual funds. I do and you probably should too. But I think that even people who talk about finance all day tend to have a poor understanding of the variance mathematics involved in these investments. There is a lot of luck in mutual fund investing, just as there is in spinning a roulette wheel. The mathematical “long term” is much much longer than you think and quite likely much longer than your life. You will never reach the “long term”, you will get returns based on a much higher variance subset of that long term. It also doesn’t make any sense to say.” higher risk should equal higher return.” Risk specifically refers to the fact that your actual result may deviate from the expected result. The risk literally is the possibility that you will not get the higher return. If higher risk always equaled higher return, you should invest in the highest risk investment you could possibly find. Obviously you don’t do that.
Wow not reading that book.
Need cliff notes for a comment wow
@stt5v2002 Dave has good advice for people digging out from a mountain of debt. On investing he is clueless.
Dave what’s that ticker symbol
What’s the name of the mutual fund
He is never going to say.
I feel like before I ever invested a dollar I understood this instinctively
I love companies with a great yield in return. And also dividends stocks 😊
I don't buy individual stocks. There is nothing that appealing about it. Feels much more like gambling at that point.
@@jamisojoit’s not gambling if you know what you’re doing.
@@jamisojo you’re missing out on dividends then. If you’re in the stock market at all, it’s a gamble.
@@PepeToTheMooon big facts.. you need a return on your investments
You cannot compare a mutual fund today from one that was created 85 years ago.
In the last 10-20 years, it have not made that much.
S&P beats mutual funds like 90% of the time.
100 percent. FXAIX all the way baby.
Who does mutual funds anymore? My dad? In 1985? Lol dino
I'm not a big mutual fund fan, but you can't compare the last 10-20 years to the next 10-20 years. The last 20 years was a golden era for investing and everything went up every year. We've moved on to the next regime and we don't know where it's going to go from here, it's just not likely to be the same as the last one.
The only index fund available in my 401k is VINIX but it's always near the top of the performance list among my options, with a 0.04% operating expense instead of the 0.3% or 0.8% that most of the mutual funds have.
Looks like a lot. "In 2022, the global net assets of US-based mutual funds were approximately $22.1 trillion. This is more than triple the $5.53 trillion in assets under management in 1998,@@brendond747
Mental calories! Never heard this, love it.
Oh my god Dave! Are you saying that trading CFD's is not investing but gambling?? Oh my god I've been gambling since Covid hit in 2020!!
I had a money market account with BA. They got rid of it several years ago.
I just opened a high yield with capital one
@@JakeStewart1343 nice
So cds are worthless? Well no wonder I don't trust investments.
One of the very first things The Intelligent Investor by Benjamin Graham talks about is speculation vs investing. Very nice rant.
Graham talks about the difference and ultimately understanding what you’re getting into. NOT that you should never speculate. This was a dumb rant. He’s equating wheat commodities to bitcoin. I don’t play commodities cause I don’t follow/understand them but to say it’s the same as gambling is dumb as sh!t
@@richthepup Dave never said not to speculate only that it was inherently riskier than investing. My opinion is that it was a great rant if you think it sucked so be it, we disagree.
Something seems off about Jade. I hope she’s OK.
Dave probably harasses her
Only disagreement is your take on day trading, day trading for many people is an employable profession that banks and financial institutions employee people to do. Yes some people have no clue what they are doing and it can be akin to gambling but that isn’t a blanket rule
I know nothing about trading /investment and I'm keen on getting started. What are some strategies to get started with?
As a beginner, it's essential for you to have a mentor to keep you accountable.
I'm guided by a widely known crypto consultant
Nancy is considered a key Crypto Strategist with one of the best copy Trading Portfolios and also very active in the cryptocurrency space.😊
This is correct, Nancy's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started..
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Please how can I reach out to her easily?
Still waiting for Dave to explain why a 20 year old and a 70 year old should operate with the same risk tolerance. It’s been 30 years
Young person has so much more time for compound interest. Someone 70 should enjoy the rest of their life spending their nest egg. Someone 70 shouldn’t spend as much. No need for a new corvette and dry cleaned suits. Exercise. Enjoy family. Walk the local muni golf courses.
Good advice....
Bitcoin has no track record? how much was it 12 years ago dave?
It's only been around for 15 years. Until it's been around for 25 years it doesn't have a long term track record. It's only existed for the short term.
Dave is an elderly man who probably has trouble using Excel Spreadsheets. 😂😂😂 He is terrified by technology so he rejects Bitcoin.
Bitcoin is a high tech ponzi scheme
@@bigdaddynuts 99% of Americans have trouble with Excel spreadsheets
@AS-gf5jn That just means not a single investment has EVER performed well. Not even Bitcoin.
The FDIC is just a few more bank failures away from insolvency. Meanwhile, inflation is outpacing your savings account. Gold is up 400% in 5 years.
No way!!
@@astroboy5137 I erred. Gold is up 500% in 30 years. Still beats inflation.
that is nowhere near correct!!
@@johnkitchens310 Gold price in 1994 $281. In 2024 $2400. I like to remind my friends that a silver quarter would buy a gallon of gas in 1969, and a silver quarter will buy a gallon of gas today.
So you mean 50 years, not 5
Fantastic guys! We made our wealth with the S&P 500 index fund. We understand it, we consistently put money in it, and that's how we've won. Not credit card points, not flipping house (we don't understand that business). Keep it simple, understandable, and virtually risk free. Boom wealth!
Same here...I have a lot invested in the S&P (Vanguard) and we've done well...and I have my son doing the same.
Dave ,,, if you invested in a mutual fund or a stock fund you are speculating that the fund in your 401k will be a good investment in retirement,,, “ Not all funds “”” make money… example
Cromwell fund , arkk fund,,, lost money,,, so you are gambling with your money,,,
So if you buy Bitcoin only cash you don’t need and hold it for a minimum of 10 years. That would be investing;) Not speculative. In 15 years Bitcoin has seen the greatest return, more than any other investment vehicle in the history of investing.
That only shows that no investment has performed well in the last 15 years at all.
You are so right! We all wish we bought,AAPL,AMZN,Microsoft And any company early on we would be filthy rich but sadly most people didn’t and now they call bitcoin not an investment because it has only been around 15 years! Bitcoin has been gobbling up all asset classes and it will continue to do so despite what Dave and his cronies think!! I will continue to buy dollar cost average and HODL! Bitcoin is outperformed all my other assets!! No more talk !!
What a load of crap
@@truthseeker4807user name checks out
@@zaraustralook up the logarithmic all time chart of bitcoin
99% of gamblers quit before they win lol
100% of gamblers are losers.
Any reason why Dave can’t or won’t disclose the name of this awesome growth stock mutual fund he’s always telling his listeners to go out and find to invest in themselves?
Because like everything else it will go to zero when everyone else invests in it.
4:35 Ramsay is spot on about crypto in that it is nothing BUT speculative but did he really just lump that in with gold? Gold will yield positive returns every single time because money will eventually be backed by it again...in a BIG way too. Gold is the only currency that is both universal AND regulated.
😂😂😂 you have no clue about crypto. When the biggest investments firm came into the space it became an investment not speculative.
Always lying about bitcoin! Dave hasn’t got a clue! Stick to your mutual funds ! Bitcoin has been around 15years and has outperformed every asset! We don’t jump in and out of bitcoin! It’s called HODLING !!
15 years isn't a long time in financial terms. Companies have been selling stock shares since the 1600s. Real estate has existed since pretty much the beginning of history. I don't know what will happen to Bitcoin in the long term, but 15 years is not much of a track record when you compare to other asset classes.
Follow the money. The rich and countries are buying BTC. Keep listening to this man if you want, it'll be your loss. Fiat will disappear, and BTC will take over.
Madoff's pyramid scheme lasted at least 17 years, and outperformed. Just sayin'...
Bitcoin went from 65K to 16K in less than a year and could easily do so again since there is nothing to drive its value other than the pyramid scheme. This is why Bitcoiners so desperately try to gather new bitcoin investors and why nearly every other crypto has failed miserably. Cryptos are the most easily manipulated entities in the world.
@@deniseyisrael6275 It's more likely that countries will coordinate to ban bitcoin. They don't like losing the tracking of money movement.
I lost 100k in crypto and boy it was brutal now 3 years later im starting from ground 0. Yea it hurts but thanks to Dave hes gave me some hope
You lost 100K cause you sold.
@@CryptoStone483 If they held to today they would be up 100k. Hell I made 150% in the last 24 hours speculating on a token called Shark Cat lmao...
2:01 Cd's are over?
For anyone with a brain... You can buy TBills directly from the fed through any investment broker and earn more. Even money market/cash accounts pay more than CDs now.
He's trying to shit in Gold? 😂
As he should.
Interesting. I made 112% in 4 years on bitcoin and other crypto. And I'm a boomer.
Bitcoin is terrible when looking at the short term. It's way too volatile. On a 5+ year horizon however it's always looked pretty good but it does have a relatively short track record compared to something like the S&P 500 so nobody knows for sure where it will be 20 years from now.
@SteveCox1 Yes we do know. In 20 years from now we'll look back on bitcoin the same way we look at pet rocks and beany babies. Just a fad that took a lot of people in.
@@Fred2-123if that were true, then why isn't it dead already? It has it managed to bounce back from multiple crashes over the past decade. Pet rocks and beanie babies didn't do that.
@@SteveCox1 Because there are a lot of fools out there. The only thing backing up crypto is new people buying it. It has no intrinsic value. It is vaporware. It's not a lot different than any other ponzi scheme.
What happens to your investment in, say, AT&T if nobody buys AT&T stock? Not much bad happens, the business stays in business and pays you a dividend.
What happens to an investment in bitcoin if nobody buys bitcoins? There is no business and no dividends, the only return you get is when other people buy it.
Sorry to rain on your parade. The early buyers made out great--just like every other ponzi scheme and MLM scheme. When the music stops, people still holding it lose everything.
@@Fred2-123in 20 years you'll be working for 10sats/hr
I bought like 300 of bitcoin in mid 2016. At one point in like 2021 it got up to 40k. I withdrew half and left half in and now that 20k is like 27k. I dont know of any better investment.
As someone who appreciates old school money, Dave is a dinosaur. They were smart. survived for a billions yrs and the died. I have tons on conservative investments as he suggests. Very safe and takes care of my financial needs. While "speculating" is higher risk, in the age of information you CAN in fact do very well in short term trading.
Speculation is gambling? Tell that to Laszlo Hanyecz who bought two pizzas for 10,000 BTC back in 2010. If he would have maintained a long term perspective and held his Bitcoin, he would have today over $600 million. Bottom line, the higher the risk, the higher the reward, you just need to maintain a forward looking perspective.
Hallelujah!!
Thank you Ms. Chloe Linda Henderson!
Nothing wrong with cd’s or high yield..
Dave will be proven WRONG once again about Bitcoin and cryptocurrencies 😂
Any time Dave makes a statement about bitcoin it’s massively bullish and I should be buying more 😂
🤪🤪🤪 well that’s what happens when life deals you a bad hand. You’ve got to play it
So one is long term gambling and the other is short term?
Where is Kristina???
Haven't seen her for a minute 🤔
She quit a year ago...
4:43 did he get his talking points from a meeting with Elizabeth Warren? How out of touch is this man.
How so?
@@kleindroppercalling it fraud when there’s zero evidence of that.
Ponzi , the only value it has is the fact that there is a continuous stream of suckers
@@PepeToTheMooon of course its a fraud, It doesn't even physically exist and has nothing to back its value other than people buying it. That's called a pyramid scheme.
@@ChanceMorseyare you talking about the US dollar?
I could have bought bitcoin back in 2010 but im smart like based Dave and understand that it:s simply a foolish gamble and it could go from $70k down to $0 in a day which is why it's much smarter to put that money in 0.5% savings account
Hahahah.
I have Bitcoin for 5 years, not sure how is that a short term play. It's not day trade, I hold it forever. It's a Gamble, but not a short term play. Gold is pretty much safe play as well. Less gamble than buying any stock.
Five years is short term. It has only existed a short amount of time. Long term is 25+ years.
@amireallythatgrumpy6508 not the definition given by irs. One year is long term. Then you buy stock is also day trade unless you hold it for 25 years. No difference to be honest. The only investment is just put the cash on your bank I guess
@@eile4219 The IRS is stupid. And their definitions are WRONG. 25+ years is long term. Anything less than that is short term.
Of course 99% of Americans are incapable for planning anything beyond tomorrow.
@@eile4219 The IRS is American and therefore wrong.
Let’s talk about the risk involved putting your family in a $5000 car you buy off of FB marketplace
I disagree with Gold. Gold prices have been rising since long time, infact Gold has given consistently positive returns those that beat the annual market return rate.
When you say "gold price is rising" what you mean is fiat currency is falling. The gold and the demand for it never changed.
Invest $1000 in gold today and $1000 in an IRA. Let's meet back in 30 years and we'll compare the two accounts. Gold will be worth about $3,000 and the IRA will be worth upwards of $100,000. You tell me which is a better investment...
Gold prices have fallen since 1980
@@jdtreharne not really. There was one spike around 1980 yes, but look at the moving averages.
@@thedopplereffect00 "one spike" means it's lost 20% of it's value over the last quarter century.
As Dave talked, I thought of the political situation. We voters decided to take a chance, that is, to speculate, on the outsider businessman as president. We got Donald Trump. Sometimes you win, sometimes you lose--or as we said among Marines, "You pays your money and you takes your chances."
So was it a win or a lose?
Gold is not a short term play. It’s actually the ultimate long term play……
How? Humans do not live long term.
I'm guessing Dave is saying crypto currency has no track record because 99% of the customers didn't get into it until 2017 or later.
Ramsey is the same man who says you should give away your wealth to charity, but the man won’t even bother to give his own employees a raise.
You need to explain that one. You appear to have no knowledge on what you are talking about. Can you elaborate or were you talking out your poo hole?
and he pulls guns on them!
What's this all about? I haven't heard
@@timothyjohnson679 It's a gift tax write off. I believe that's what members of a church does when they "give" to their churches.
Dave is the same guy who says to work 80 hours a week, work 3-4 jobs. You'll never be successful without taking some risks.
Anyone have a guess as the fund Dave is talking about that's been around since 1934 with an average 12% return and 10 total down years? I wouldn't mind owning some of that.
@Colbycrab Read my other comment. Buy a S&P 500 index fund.
It doesn’t exist. He’s lying
I believe I answered my own question. It's likely AIVSX.
What a bunch of hot air Dave is...how do you determine what rate of return you should be getting from stock investments where boardroom deals and executive session behind closed doors yield decisions on business paths, that you are not privy to until AFTER the damage has been done. THERE IS NO WAY TO CORRELATE RISK v. REWARD. How about Government bonds? Especially now that the signing of assistance to Ukraine and Israel has happened? Should bond holders demand a higher rate of return or will that magically just be handed to them? Certainly the risk profile of US bonds has changed... My favorite BS investing lie is "Well...that was already baked into the price." This guy should just stick to advising on household finances where people are paying off credit cards with other credit cards.
Mutual funds low gains medium risk. At least with an individual stock I can place a stop loss. Mutual funds only buy
For those wondering, Dave is referring to AIVSX.
Gold speculation is only speculating if you buy paper markets. Buying and taking physical ownership is called wealth generation.
Bitcoin, gold and silver into self custody. 🔥🔥🔥
Thats not called wealth generation its called wealth preservation
There is nothing wrong with gold ETFs unless you think you'll be playing Fallout IRL
@@thedopplereffect00 If you own a gold ETF share, you own 0 gold. You own a claim on gold. You own a promise that someone else won’t steal your gold. Plus any government can just freeze your silly piece of paper in case of a financial crisis …. which we’re in the middle of right now.
@@bigdaddynuts that's not how the securities markets work but you do you.
BTW, the government will have no problem doing a 5am visit to divest one of their precious metals. Good luck!
Meanwhile my investment strategy is trying to win the lottery with a handful of pennies and wishful thinking. I mean.. who needs financial planning when you’ve got blind optimism?
Why u no gold?
Gold doesn't return value
@@jdtreharne You can Sell it when you want and gain good things Gold does not lose much Value
@@Jakkaribik1 Can't lose what it never had.
@@amireallythatgrumpy6508 What Intrinsic Value For being a Metal with many uses?
@@Jakkaribik1 LMAO there's no such thing as intrinsic value dude. Value is by definition an EXTRINSIC property. Value is not a result of the thing, it is a result of human perception of the thing. All value an object "has" is projected upon it by how humans perceive it. Value does not exist outside the human brain.
The market is viewed differently by different people; some believe it is overvalued because of recent gains, while others argue that high valuations are justified by solid economic fundamentals. Given the index's growing concentration in tech, the notable rise in tech stocks makes me nervous about my $600K portfolio. What I want to know is which stocks will grow the fastest over the next ten years-perhaps the APPL?
Yes, transportation, e-commerce among other sectors are expected to experience growth, but who knows, the market has been a basket of surprises and investing in the stock market is quite daunting especially for amateurs, you can choose to handle your own stocks or pay a professional
Indeed. During times of market uncertainty, it is imperative to maintain a diversified and well-balanced portfolio. When the COVID-19 pandemic hit in 2019, I turned to market experts for guidance. By implementing their suggestions, my $1 million portfolio has increased by 45% as of right now.
Who is the mentor who gives you advice? I need help immediately because my stock portfolio is stagnating and I need advice on investments.
Aileen Gertrude Tippy is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for sharing, I must say She appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call