Question for Dave- How should I adjust my saving and spending habits to deal with unchecked inflation? I'm very concerned about the massive coining of US currency (something like 40% off all dollars in existence have been coined since March). I'm upper 20s with ~$140k, no debt, no home, and no faith in the Federal Reserve. I'd like to dump the stock and cash it all into a home. Any thoughts? Worth a shot...
me, a 23 year old: omg a message from dave for me? dave: you guys are buying properties too fast, slow down me, lives at parents' house and owns nothing but one beat up car: ok dave
Our parents give us what they can, rich or ‘broke’ don’t matter. My family wasn’t the wealthiest but I learned from that and now my mentality is to get wealthy myself to help my parents for putting food on the table no matter what we went through
Great message Dave. 28 debt free, good salary, emergency fund, 15% in retirement and buying my house at the end of the year with 20% down 15 year fixed. Lets do this. God bless everyone 👌🙏
I am from Miami United State🇺🇸, The difference Mrs Lucy Mary Liam makes in my life is second to none it's definitely a life changing kindness. I really appreciate her effort in my life.
Seeing my broker talked on UA-cam, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024
Her good strategies of making large amount weekly profits for her clients are totally outstanding. Investing my $1500 with doubt and withdrawing $12,300 with happiness. I ❤️ you Lucy.
Opinions diverge. Some claim overvaluation due to rapid gains, while others cite strong economic fundamentals justifying high valuations. Raises concern for my $600K equities going 8% up and 20% down. Should i hold on or sell off my positions and hold cash?
I do agree, Investing has gotten difficult especially after pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
31 wife is 28 and debt is paid off, emergency fund in place, investing 15%, saving for kids college and house is gonna be paid off this year! Thanks to Gods principles and you! We are so blessed and thankful.
Hey some people get some pretty sweet hand outs with familial support. All one can say is good for you and pass on your blessings to another. Others are just dealt a poor hand in life and have to do it all on their own
I'm 26, bought my first house (for my own residence, not to rent out) at 24, and have no debt other than the home. Chris is right. Anyone in this age bracket who has a solid understanding of personal finance is going to do great in the future and I can already tell that my plan is working.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my dad through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
It depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an asset manager. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape. I have about ($1.25m) in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little in retirement accounts. To be completely honest, the information provided by managers can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Thanks for the advice. The search for your coach was simple. I researched her well before arranging a call with her. Considering her resume, she appears knowledgeable.
He's right. I see money as freedom. When I spend money on something, I don't see the dollar sign, I see the amount of work it took to get that dollar sign. My new used car cost me 5-6months worth of work at my current job. So when it comes to making millions, I dont care. I just want enough passive money not to be in jobs I dont like.
Also its more about building something that can have a good impact on the world instead of just trying to make your own life better and more luxuries while you wither away and die and all that wealth has no more value in the afterlife since it wasnt invested in a godly cause but squandered on materialism
4:40 One of the best classes I took in high school was personal financial management. Little did I know this is the root (foundation) to my success. Literally one of the classes I still use to this day on a daily.
I'm under 30 and I think the biggest thing is how much information there is available for free for anyone to use and learn from. My parents came to the US knowing nothing and struggled their whole lives. I want to be able to give my kids all the things I wish I could've had.
24 years old and totally agree. Total have a desire to “do something”. Good reminder with nothing wrong in slowing down paying cash. Everyone else in my ear is saying you need a house you need a house.
@@michaeltren4910 i live with moms & I was fortunate to get a car given to me, so I’m more than grateful to be where I’m at. I have friends who are in debt & others who have easily 50k in their stock portfolios. I just follow through in my own path on what I can do with what I have in my life
Congrats Carlos, you're already 10 years ahead of me when I started getting on track. Just make sure you have enough set aside for disasters so your "emergency fund" doesn't end up wiping out your entire cash reserves for your personal enjoyment.
Honest question, what is leveraged real estate? I've heard Dave talk about it. In my head, in order to buy real estate, you put up a down payment, take the rest out in mortgage. I thought if its a rental property, as long as the rent you are charging is greater than your mortgage payment, things are alright.
@@Kevin-jc1fx I hear you, but then nobody in real estate got ahead. or got into real estate without it being "leveraged real estate" no, you have to start somewhere with a loan?
@@godfathaofyo Most people start with some loans and pay them off with the profits until they can pay cash their next properties. The trap is keeping taking loans and be blinded the gross value of your properties while forgetting that you don't completely own them and can lose everything if you ever fail on paying back the loans.
More advise is never enough. Thank u Dave for the great advice u have given me thru UA-cam that money can’t buy for the past 2yrs. U are a true blessing.
Desperation to pay off my mortgage :( i want to be DEBT FREEEEEE
3 роки тому+27
When I was in my early 20s I met a retired stockbroker who told me to avoid debt and to invest in solid stocks. That. was the likely the best financial advise I ever had. As a result, I was doing Dave Ramsey type things long before I ever heard of Dave.
Just like Dave said, you just need someone who knows their stuff and of course has the heart of a teacher to help you become successful in whatsoever investment you decide to venture into.
If I had ever inherited that much money I'll find a way to make it grow, so that I don't ever have to work again. Both me and my wife. In fact even our children, would never have to work for anybody but themselves.
I do agree. Our generation needs to remember that not everything in life is like Amazon - Fast and instant. There are many aspects in life which need to take the slow, methodical path like retirement planning, household planning, career advancement and staying away from debt. Those are the constant speed, slow role, stay in your lane and stay focused. Slow and steady almost always wins the race.
@@deesplash7087 you literally can’t comprehend this sentence when 140+ people easily did. I used the analogy of Amazon prime services being instant gratification… not the formation of the company itself 🤦♂️
I’m 24 and I just started my Roth IRA, the year before that I did the debt snowball to pay off my debt! Now I’m looking into investing a bit more for the long run
Buy bitcoin. It's the 9th biggest asset by market cap in the world, just behind silver. Even Blackrock are buying. The days of "bitcoin is a scam!" are long over. It's just volatile, meaning you need to hold it at least 5 years, so diversify with stocks and ETFs and a HYSA. This is the way.
@@shadowthehedgehog2727 It has some good fundamentals, but absolutely DYOR and decide for yourself if it's right for you. Seeking unbiased sources is difficult. There are two extremes. One side suggests Bitcoin is still a ponzi scheme and a zero sum game that will go to zero, the other says put your entire life savings into Bitcoin because it's the future of currency. The rational side says treat it like a leveraged investment, never put in what you can afford to lose, diversify your portfolio, DCA in, and never panic sell in the red. With the current market cap at an ATH, it's worth considering the potential risks.
It’s about a balance in our lives . If Dave never took risks and learned valuable lessons in his 20s he may not be where he is today. Do not be afraid to take risks, especially if you are young. Life is too short.
True. Especially when you're younger, healthy, able bodied, you can push yourself very hard to find options to earn money. Do it while you're young. When you get older it becomes much harder to do when you have zero foundation built upon yourself over the years.
I’ve watched all of your UA-cam videos and my grandfather bought me the total money makeover book ! He used the baby steps to buy his first house.You’re teaching generations !
we're so quick to dive straight in because we see all these people our age or even younger who are already millionaires and it makes us feel like we're falling behind and failing at life, so we take drastic measures to catch up
Probably smarter to go speak with a therapist when feeling like that than make drastic financial decisions. Who cares where anyone else is at on their own journey? Take your time, be smart, and stop comparing.
Dave you are saving college students ! Everyday I watch your videos, I really appreciate the content , especially since people don’t have parents to tell us this type of stuff !❤️
I appreciate this show. I’m 29 and trying to get more financially organized and my definition of “organized” through my entire 20’s was a very flawed definition. Finances stresses me out right now and listening to this show and these videos gives me clarity and not panic.
Thank you, Dave and Chris. I am 29 and needed to hear this, this morning! Phew! PS: I have budget to buy myself a pair of old man house shoes. I'm ready for that level of responsibility!
Because of this program. I paid off my loan and thank God I do not have any debt to date. So, I'm still watching to see what needs to be done save, invest etc. Thank you for your program.
As a 20 year old man who resonates highly with the message of balancing initiative with wisdom, risk with margin, I appreciate this message being the highlight of the video.
Thank you Dave. I’m studying to get my MLO, graduating college and just became a notary. Definitely agree. We are working hard to build equity for ourselves because many of us do not have equity in our families. Thank you for recognizing that 20something year olds are NOT lazy. We are choosing different options
Hey Dave. I just paid off my first rental property today. Awesome feeling. We have zero debt outside leveraged rental properties (thankfully with considerable equity) My parents bought me “Total Money Makeover” in college and it collected dust for a decade. Wish I would have read it in my 20’s. I can’t wait to be debt free. I’m snow balling like winter storm Uri!!!
Really? NOTHING great ever happened without "great risk?" Also, have you considered that many bad things have occurred as the result of "great risk?" E.g. the 2008 Financial Crisis or the Great Depression.
It's interesting how generations don't change too much. How Dave Ramsey thought those telling him he was too leveraged, "Oh they're just old, what do they know." There is wisdom in those who have been there and done that, no matter how the times may change.
Life is not a race, you guys. Use wisdom to turn opportunity into long-term safety and security. Be careful out there and don't listen to anyone online who is making it seem like life is a race.
I think We Have started to think that if we become a millionaire in our Late 30s or 40s we will be too late and Will not be able to enjoy the Money That time cause we will not be Young and at the best time of our life
Wow dave this was a great message. At 24, I do have this rush & get it done to achieve freedom mentality (drive). This message has helped me recenter myself like all your videos do. Thanks!!! 😄😄
I think that it's best to take on high-risk investments in your 20s. If something goes south, you have your whole life in front of you to fix it as Dave did. However, if your Daves age, slowing down would be a good idea.
I’m 29 and I only have my mortgage left to pay off and I force myself to direct deposit money into my savings every month. I’m nervous about investing but I need to try and i just want to say I’m proud of everyone who is listening to Dave Ramsey and trying to really make a difference in their life. We can do it! ❤️
PSA: Invest In Real Estate. Just don't use high interest, short term, callable loans. Like Dave Ramsey, I too became a real estate millionaire in my 20s. But the way my loans are structured, the banks can't call them due before the 30 year term is up.
So true! I literally commented the exact same thing. If ramsey had 30 year fixed loans he'd be a multimillionaire today from his real estate portfolio that would have been just fine
@@colin1818 buy better books and take care of them. My wife has multiple books, purchased brand new at retail, now worth thousands used. Don’t crease the pages. They go back on the shelf where they came from. They’re mostly for looking not for touching and her office is essentially a museum at this point.
I avoided debt and quit smoking, drinking and eating while investing every penny possible but its still not enough. I just got in a car accident so I'm in debt again 😢😢😢 It's time to skip eating meals until I can get out of it.
Real estate is not for me in my country because of taxes, prices and laws. Too much stress for the ROI. I'd rather invest elsewhere and within my means
Why is he your hero. He didn't make you debt free, he just gave advice. You're the one that put in the work, paid off all the debt and changed your life. You're the hero
Exactly! People can't slow down when inflation is moving faster than the average pay raise. It's a necessity now to have multiple streams of income just to survive or get a head in life. The message really shouldn't be to slow down. It should be to inform people to do proper research before jumping into anything.
@@searphhoney , and you have to have a financial plan. As Dave preaches. Nothing good financially, is going to happen to you by luck unless you win the lottery or inherit a bunch of money, and even then, if you don't have a plan, it will probably do more harm than good to your long term financial health. And, making saving money and investing it, a priority in your life, is always going to be the bedrock principle.
It’s interesting his take on that generation, I’m in it and I look around and I feel like it’s a “do the least amount of work for the most reward” attitude. I feel like people my age want everything right now:the nice car, the bigger home, go on vacations, etc. my husband and I feel like we don’t relate towards most people our age.
I just turned 20 year old and next week I'm going to move in Lisboa for work and I can't wait to think smarter with my money. Guys, I hate technologies but we got all the keys to be financial free. WORK ON YOURSELF, YOUR FUTURE AND no matters what other people (even family) say to you, just do it. Watch documentaries, adquire knowledge.
@@dankestranch8738 no, for men life begins at 30 and for woman it begins at 18. It's because of hormones and the different roles men and woman play in society. Woman develop faster but men have a higher level cap. In short men have infinite time but woman have control of life.
@@rajunaidu7751 total nonsense, did Reddit tell you that? Most people, male or female do not start to build significant wealth until 30+ because it takes time. Has nothing to do with “biology”. And nobody has infinite time...that’s extremely dumb.
I'm 27 and I should have all my debt paid off by August. However, I don't know what to do with my life. I have a useless degree and no passions. It's very depressing. I make 30k and I feel like I'm wasting my time.
What did you study and what do you do atm? A job is for making money, you do not need to be passionate about it. Google good paying careers and see how you can pivot into one of them. Get a hobby as it will give purpose to your life.
Find a purpose bigger than yourself. Be it God, raising a family, being another Elon Musk, whatever it is! Humans are flawed by nature, there's a reason superstars become drug addicts and lose their empires.
I studied engineering and hated it and the job mostly because of terrible managers. My passion was always electronics and that's what I do now - reselling old as well a new IT hardware and make a killing doing it. But what I love the most is that I'm working a job to build my own life, not working a job to build someone elses
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@lennoxmutterick6434 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
The Gamestop craze as mentioned has nothing to do with getting rich fast. It's an outcry from the younger generation against the establishment. That's an entirely different topic.
Don't kid yourself, the vast majority of people that bought in after it started blowing up were just trying to get rich fast. Only the ones that initially invested were truly trying to fight against the hedge funds.
the fact ramsey is worth 475m speaks volumes and I salute you sir. I am a wealthy man at heart and it will speak volumes in my wallet one day sir. Thank you for your service.
It’s message has kinda changed my whole mindset in a sense like … I’m a person that believed I could build a life of Financial peace that didn’t have me working my brains out everyday every week, however that didn’t help me with my responsibilities Rent, utilities, etc. I guess for a little bit I do have to do what I don’t want to just do I can do what I want
I think he should be more encouraging of young people wanting to better their lives at all, point out certain aspects to avoid. He says it himself he was a millionaire, so its possible, he just put too many eggs in one basket and the handle snapped
I told my children don’t get in debt. One bought a car the only debt. I told them to invest on assets. I am teaching them and I learned late but it’s not too late.
I'm 23, and this show has been a lifesaver with greats amounts of wisdom, I need to get out of debt, what's the best way to get out of school debt by the age of 30?
Thanks to DR, my wife and I realized the error of our ways early. Now our eyes are opened to the awful mismanagement of income of some of our family and friends. We’re now incredibly cautious in our savings and rarely spend on our wants. At the same time, we’re trying to claw for higher income to have even higher monthly cushions in our budget. The message is to slow down and think critically before using Other People’s Money and getting into ridiculous debt (all debt is ridiculous) and I can appreciate that message.
I'm 23 with 20k saved and still don't know what I want to do. I just want to be comfortable, but making 20k a year sucks. I can only imagine how much money I could save if I had a better paying job, but I didn't go to college. If anyone else feels stuck like this please feel free to share.
You have plenty of options to improve your income. If you don't want to pursue a traditional college 4-year degree, many community colleges offer career certificates in things like construction and technology that take only months to complete. At my wife's college, many of these students have job offers at 40-50k per year before they graduate. You are too young to lock yourself into a life of working poverty.
I know me saying this most probably will get shrugged off as 'old man' talk, just like Dave is saying here. But I once was 23 and did not have 20k, and I thought I was stuck then, and that mentality lead me down a path of despair without even realising (I dropped out college). You have made an awesome start with your savings. Just keep pushing that mentality to do a little better every day as time goes on, put things into action, and keep progressing. You will do awesome.
Over leveraging myself on my second rental property was painful lesson I had to learn, also. Experience has taught me that slower is better and having liquidity is safer.
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
I already don’t have debt. I don’t need that.
Like I always tell people don't go to recording school or college! Start your own recording school or college because that is where the money is!
Only works in the USA
@@jimmacintosh3564 not that bad for those in the UK as in stay out of debt and the snowball.
Question for Dave- How should I adjust my saving and spending habits to deal with unchecked inflation? I'm very concerned about the massive coining of US currency (something like 40% off all dollars in existence have been coined since March). I'm upper 20s with ~$140k, no debt, no home, and no faith in the Federal Reserve. I'd like to dump the stock and cash it all into a home. Any thoughts?
Worth a shot...
I think the key message is slow down. In our generation everyone is trying to get rich quick cuz we see wealthy young people with millions.
They are the vast minority. These millionaire kids on UA-cam showing how they got rich quick are scams.
@@xJayhawkFANx Scams or hidden inheritance.
@@xJayhawkFANx agreed. if they’re millionaires why tf they on UA-cam and not on a yacht. Show me the yacht!!!
@@xaviersales92 they are fraidy cats of the water. Most can''t swim, and are afraid of their own shadows.
Yeah especially with the ads of how you can get rich quickly
Your message is more so for the 40 year olds. At age 20-30 we don't wanna buy real estate for profit; we just want to actually afford our first house
This!
I agree...literally just trying to find a home to afford. 😕
True
Not true. I know several 20somethings into real estate and they’re doing well.
@@amandadean3948 That's wonderful for them. And I mean that sincerely. But as for me and my friends, we're all in the same boat.
me, a 23 year old: omg a message from dave for me?
dave: you guys are buying properties too fast, slow down
me, lives at parents' house and owns nothing but one beat up car: ok dave
20 and I dont have a beat up car its pretty clean... But its a 2004 model and I live with my parents. Useful information here dave
Do you work? If you do just kept stacking your money
@@ryanjohnson5882 thanks
Better than home with parents with car debt ! You can continue to save and be off to a great head start
😂😂😂 same
I just don’t want to be broke like my parents
All you need is no debt! Then all of your money is actually yours!
Our parents give us what they can, rich or ‘broke’ don’t matter. My family wasn’t the wealthiest but I learned from that and now my mentality is to get wealthy myself to help my parents for putting food on the table no matter what we went through
same!
Save and invest while you can. Don't buy what you don't need and spend less than you earn :)
Well your already have the mindset for what it takes.
Great message Dave. 28 debt free, good salary, emergency fund, 15% in retirement and buying my house at the end of the year with 20% down 15 year fixed. Lets do this. God bless everyone 👌🙏
You go, girl!
What do you work in?
Congrats!
This is amazing!!!
Humble flex
I am from Miami United State🇺🇸, The difference Mrs Lucy Mary Liam makes in my life is second to none it's definitely a life changing kindness. I really appreciate her effort in my life.
I invested $2,000 and the trade in one month making close to $20,000. I wonder where she got her analysis.
Seeing my broker talked on UA-cam, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024
I'm from Brazil 🇧🇷 I and two other of my friends tried her immediately we testified her performing wonders.
Her good strategies of making large amount weekly profits for her clients are totally outstanding. Investing my $1500 with doubt and withdrawing $12,300 with happiness. I ❤️ you Lucy.
Thanks to my co_worker who suggested Mr Lucy Mary Liam to me
Opinions diverge. Some claim overvaluation due to rapid gains, while others cite strong economic fundamentals justifying high valuations. Raises concern for my $600K equities going 8% up and 20% down. Should i hold on or sell off my positions and hold cash?
It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.
I do agree, Investing has gotten difficult especially after pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Sonya Lee Mitchell is the licensed advisor I use. Just search the name. You’d find necessary details on the web to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
31 wife is 28 and debt is paid off, emergency fund in place, investing 15%, saving for kids college and house is gonna be paid off this year! Thanks to Gods principles and you! We are so blessed and thankful.
Congrats!
Awesome, great job guys!!! Keep up the good work! 🥳
Ur house is gonna be paid off this year at 31? 😂 u must live somewhere in the south with very cheap housing
Hey some people get some pretty sweet hand outs with familial support. All one can say is good for you and pass on your blessings to another.
Others are just dealt a poor hand in life and have to do it all on their own
I'm 26, bought my first house (for my own residence, not to rent out) at 24, and have no debt other than the home. Chris is right. Anyone in this age bracket who has a solid understanding of personal finance is going to do great in the future and I can already tell that my plan is working.
Hold it down, brother.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my dad through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
It depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an asset manager. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape. I have about ($1.25m) in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little in retirement accounts. To be completely honest, the information provided by managers can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular advisor to whom you have used their services?
SHARON LEE PEOPLES, one of the finest portfolio managers in the field. You should take a look at her work.
Thanks for the advice. The search for your coach was simple. I researched her well before arranging a call with her. Considering her resume, she appears knowledgeable.
He's right. I see money as freedom. When I spend money on something, I don't see the dollar sign, I see the amount of work it took to get that dollar sign. My new used car cost me 5-6months worth of work at my current job.
So when it comes to making millions, I dont care. I just want enough passive money not to be in jobs I dont like.
Yes this!!!
Also its more about building something that can have a good impact on the world instead of just trying to make your own life better and more luxuries while you wither away and die and all that wealth has no more value in the afterlife since it wasnt invested in a godly cause but squandered on materialism
"It is dangerous to have zeal without knowledge,
and the one who acts hastily makes poor choices" - Proverbs 19:2
@@nz33342 lol
Also, that the soul be without knowledge, it is not good, and he that hasteth with his feet sinneth
@@nz33342 Makes perfect sense to me. I also love that verse in the way OP wrote it. Super prevalent to our times.
@@nz33342 Also, that the soul be without knowledge, it is not good; and he that hasteth with his feet sinneth.
@@nz33342 Also it is not good for a soul to be without knowledge, And he sins who hastens with his feet.
NKJV
4:40
One of the best classes I took in high school was personal financial management. Little did I know this is the root (foundation) to my success. Literally one of the classes I still use to this day on a daily.
I'm under 30 and I think the biggest thing is how much information there is available for free for anyone to use and learn from. My parents came to the US knowing nothing and struggled their whole lives. I want to be able to give my kids all the things I wish I could've had.
My debt is paid off!!
That’s awesome keep it that way 💪🏽100%
@@josep5joe I appreciate that! Will do, the worst thing ever to do is financially Drown and never recover
Congratulations brother. I hope I do too soon.
@@alkanz5651 much appreciated, you got this, don't let it sink you
Congrats
24 years old and totally agree. Total have a desire to “do something”. Good reminder with nothing wrong in slowing down paying cash. Everyone else in my ear is saying you need a house you need a house.
i’m 24, no job, debt free. have about 30k saved including stocks. i graduate this summer with a finance degree. just trying to play my cards right tbh
30k saved isn’t doing anything for you. You need to put that money to work bro.
@@ethanmayernik In his defense, he did say "including stocks." It sounds like he is putting the money to work for him, at least to an extent.
How do you have 30k saved with no job, I feel like some of these people just flex what they don’t have.
@@michaeltren4910 i live with moms & I was fortunate to get a car given to me, so I’m more than grateful to be where I’m at. I have friends who are in debt & others who have easily 50k in their stock portfolios. I just follow through in my own path on what I can do with what I have in my life
Congrats Carlos, you're already 10 years ahead of me when I started getting on track. Just make sure you have enough set aside for disasters so your "emergency fund" doesn't end up wiping out your entire cash reserves for your personal enjoyment.
The fact that nobody talks about the book 25 money secrets from Donald Trump, speaks volumes why people dont earn a lot of money...
how does this have 2.9 likes in 2 days? pretty old video....
jit is millions and debt AIN'T NOBODY reading that
@@travismonahan7225It’s a bot.
I got rich with Real Estate. Had $20M of leveraged income property. Then 2009 came. By 2011 I was broke. Dave and Chris are right.
But you were living your life when u had that 20m$
Honest question, what is leveraged real estate? I've heard Dave talk about it. In my head, in order to buy real estate, you put up a down payment, take the rest out in mortgage. I thought if its a rental property, as long as the rent you are charging is greater than your mortgage payment, things are alright.
@@godfathaofyo No matter how much the rent is, if you paid the property with people's money, it isn't really yours. I think that is what they mean.
@@Kevin-jc1fx I hear you, but then nobody in real estate got ahead. or got into real estate without it being "leveraged real estate" no, you have to start somewhere with a loan?
@@godfathaofyo Most people start with some loans and pay them off with the profits until they can pay cash their next properties. The trap is keeping taking loans and be blinded the gross value of your properties while forgetting that you don't completely own them and can lose everything if you ever fail on paying back the loans.
More advise is never enough. Thank u Dave for the great advice u have given me thru UA-cam that money can’t buy for the past 2yrs. U are a true blessing.
It's not greed. I don't even think it's initiative. I think it's desperation.
💯 agree
Agreed
💯💯
Desperation and fear.
Desperation to pay off my mortgage :( i want to be DEBT FREEEEEE
When I was in my early 20s I met a retired stockbroker who told me to avoid debt and to invest in solid stocks. That. was the likely the best financial advise I ever had. As a result, I was doing Dave Ramsey type things long before I ever heard of Dave.
What’s a solid stock though?
@@Chasing-the-outdoors I'm assuming index funds
@@Chasing-the-outdoors I think he means solid as in quality companies with good fundamentals.
@@Chasing-the-outdoors blue chip stocks probably
We're anrgy and desperate to succeed from being squeezed financially from society.
Bingo
This comment said it all... I wish you all success in life!
Zero interest rate policy is population control.
Seriously! This society eats their young.
Just like Dave said, you just need someone who knows their stuff and of course has the heart of a teacher to help you become successful in whatsoever investment you decide to venture into.
By someone you must mean a properly educated and accountable portfolio maneger.
Yes of course.
Didn't you hear? You don't need an MBA in finance to make basic investing decisions.
I know my stuff. Gimme your money and I'll turn it into a million by throwing it at GameStop
If I had ever inherited that much money I'll find a way to make it grow, so that I don't ever have to work again. Both me and my wife. In fact even our children, would never have to work for anybody but themselves.
I do agree. Our generation needs to remember that not everything in life is like Amazon - Fast and instant. There are many aspects in life which need to take the slow, methodical path like retirement planning, household planning, career advancement and staying away from debt. Those are the constant speed, slow role, stay in your lane and stay focused.
Slow and steady almost always wins the race.
Good luck with that bro. Slow and steady stays slow and steady.
Amazon started off extremely slow and steady😐 so I think that’s a trash reference to use lol
@@deesplash7087 you literally can’t comprehend this sentence when 140+ people easily did. I used the analogy of Amazon prime services being instant gratification… not the formation of the company itself 🤦♂️
I’m 24 and I just started my Roth IRA, the year before that I did the debt snowball to pay off my debt! Now I’m looking into investing a bit more for the long run
That's awesome! I wish I had done all of that at your age, I'd be so much better off now.
Good job kid!.....it is going to pay off!! I'm 34 and so glad I started at your age. Good job!
Buy bitcoin. It's the 9th biggest asset by market cap in the world, just behind silver. Even Blackrock are buying. The days of "bitcoin is a scam!" are long over.
It's just volatile, meaning you need to hold it at least 5 years, so diversify with stocks and ETFs and a HYSA. This is the way.
Thanks for the advice! I just opened a HYSA last year as well. I have little money in bitcoin but I should look into it
@@shadowthehedgehog2727 It has some good fundamentals, but absolutely DYOR and decide for yourself if it's right for you. Seeking unbiased sources is difficult. There are two extremes. One side suggests Bitcoin is still a ponzi scheme and a zero sum game that will go to zero, the other says put your entire life savings into Bitcoin because it's the future of currency.
The rational side says treat it like a leveraged investment, never put in what you can afford to lose, diversify your portfolio, DCA in, and never panic sell in the red. With the current market cap at an ATH, it's worth considering the potential risks.
It’s about a balance in our lives . If Dave never took risks and learned valuable lessons in his 20s he may not be where he is today. Do not be afraid to take risks, especially if you are young. Life is too short.
True. Especially when you're younger, healthy, able bodied, you can push yourself very hard to find options to earn money. Do it while you're young. When you get older it becomes much harder to do when you have zero foundation built upon yourself over the years.
I’ve watched all of your UA-cam videos and my grandfather bought me the total money makeover book ! He used the baby steps to buy his first house.You’re teaching generations !
Listening to Dave Ramsey makes you richer; intellectually richer at the very least!
31 years old. Just want to pay my bills, support my woman, have time to have fun, and having my own business allows me to do that. So grateful!
Dave Ramsey has good advice because he doesn’t push get rich quick scheme
This is true, but I will say he plays it too safe sometimes but his advice is really catered to those in dire needs
@@EngineeredMojo usually it's when people are in dire need they tend to look for solutions.
No instead he pushes a get rich very slow scheme
@@ed9405 not a scheme if it’s proven to work.
@@ed9405 it's not a scheme if it works... look it up 🤦🏻♂️🤦🏻♂️🤦🏻♂️
we're so quick to dive straight in because we see all these people our age or even younger who are already millionaires and it makes us feel like we're falling behind and failing at life, so we take drastic measures to catch up
Probably smarter to go speak with a therapist when feeling like that than make drastic financial decisions. Who cares where anyone else is at on their own journey? Take your time, be smart, and stop comparing.
Dave you are saving college students ! Everyday I watch your videos, I really appreciate the content , especially since people don’t have parents to tell us this type of stuff !❤️
The guy on the left has such a wonderful voice
I want him to narrate audiobooks
Or work for Family Guy
I appreciate this show. I’m 29 and trying to get more financially organized and my definition of “organized” through my entire 20’s was a very flawed definition. Finances stresses me out right now and listening to this show and these videos gives me clarity and not panic.
Thank you, Dave and Chris. I am 29 and needed to hear this, this morning! Phew!
PS: I have budget to buy myself a pair of old man house shoes. I'm ready for that level of responsibility!
Because of this program. I paid off my loan and thank God I do not have any debt to date. So, I'm still watching to see what needs to be done save, invest etc. Thank you for your program.
Social media fraudsters are feeding these crazes as well.
I'm gonna get rich in real estate but long term not overnight
Lol ok
@@yodamaster757 lol ok
The only way to really get rich: long term.
@@Azidoazideazide. yup buy and never sale and repeat
In England, real estate normally increases 70% in price every 10 years
If you’re in your 20’s, your first investment needs to be rice and beans!
👍Funny but you're 1000% right
😂 my man
True
Rice and beans, beans and rice. Lol
@@WildBison74 maybe tuna
As a 20 year old man who resonates highly with the message of balancing initiative with wisdom, risk with margin, I appreciate this message being the highlight of the video.
Holy moly, this intro is so much better!
You didn’t like the over modulated guitar riff that’s 20x louder than the video?
Yes!! So much smoother, no more ear shattering guitar blasts.
YESS
Idk.. the guitar sound is nostalgic to me already 🥲
@@jonathanstellar5588 I mean sure, I would have loved the guitar... if it were 54465484x quieter.
Thank you Dave. I’m studying to get my MLO, graduating college and just became a notary. Definitely agree. We are working hard to build equity for ourselves because many of us do not have equity in our families. Thank you for recognizing that 20something year olds are NOT lazy. We are choosing different options
I’m a 30 year old journeyman carpenter mostly drywall & steel stud framing.
Now I run my own business.
Hey Dave. I just paid off my first rental property today. Awesome feeling. We have zero debt outside leveraged rental properties (thankfully with considerable equity) My parents bought me “Total Money Makeover” in college and it collected dust for a decade. Wish I would have read it in my 20’s. I can’t wait to be debt free. I’m snow balling like winter storm Uri!!!
Every time I listen to Dave I feel like he’s terrified of risk. Nothing great ever happened without great risk.
Except his Hundred-million-dollar empire
Really? NOTHING great ever happened without "great risk?" Also, have you considered that many bad things have occurred as the result of "great risk?" E.g. the 2008 Financial Crisis or the Great Depression.
@@HankTheTank23 ikr, if you're coming to Dave Ramsey you're coming for something reliable. You MIGHT make money other ways but they aren't reliable.
@@josh_final Yes, exactly. You might make a lot of money, but you also might lose a whole lot.
Pretty sure he's been to a million then bankruptcy more than once in his life so I'd say he knows a little about risk
I wish I would have had that drive when I was 20’s. Freedom equals happiness.
Hi 👋 I’m ready to get yelled at on this Monday morning 😅
LOL 😆 same
Me three
It’s Presidents’ Day tomorrow, is Dave even working tomorrow?
And sooo early too! 😂
STOP BUYING COFFEE AND START SAVING! SELL YOUR FAMILY
I just left that age category. My wife and I are looking forward to pay off our home less than predicted. Thanks to Dave and his team.
It's interesting how generations don't change too much. How Dave Ramsey thought those telling him he was too leveraged, "Oh they're just old, what do they know." There is wisdom in those who have been there and done that, no matter how the times may change.
It sounds like Dave doesn't yolo for the tendies
ikr? diamond hands.
I think Dave missed a key part of GME- for a lot of us, it was never about the money. It was about screwing over Melvin.
APES
😂
If he’s still in, I’m still in!
I just want to be independent and not be homeless.
Life is not a race, you guys. Use wisdom to turn opportunity into long-term safety and security. Be careful out there and don't listen to anyone online who is making it seem like life is a race.
I think We Have started to think that if we become a millionaire in our Late 30s or 40s we will be too late and Will not be able to enjoy the Money That time cause we will not be Young and at the best time of our life
@P that Right
Wow dave this was a great message. At 24, I do have this rush & get it done to achieve freedom mentality (drive). This message has helped me recenter myself like all your videos do. Thanks!!! 😄😄
I think that it's best to take on high-risk investments in your 20s. If something goes south, you have your whole life in front of you to fix it as Dave did. However, if your Daves age, slowing down would be a good idea.
He didn't buy with a margin of error and didn't run the numbers. He bought expensive real estate that didn't cash flow. Didnt know what he was doing
Wow. I'm glad I watched this. 25 and I was about to buy another house! Didn't realize I'd be exposed so much.
I’m 29 and I only have my mortgage left to pay off and I force myself to direct deposit money into my savings every month. I’m nervous about investing but I need to try and i just want to say I’m proud of everyone who is listening to Dave Ramsey and trying to really make a difference in their life. We can do it! ❤️
PSA: Invest In Real Estate. Just don't use high interest, short term, callable loans. Like Dave Ramsey, I too became a real estate millionaire in my 20s. But the way my loans are structured, the banks can't call them due before the 30 year term is up.
Congrats! I saw your videos of you and your wife being interviewed a while back. Do you structure all your properties for 30 years?
I don't trust people owing me money or the risk of squatter's so I'll stick with reits. Although not as profitable short term still get paid.
And for the love of God you MUST buy everything at a discount.
Perfect summery Todd.
So true! I literally commented the exact same thing. If ramsey had 30 year fixed loans he'd be a multimillionaire today from his real estate portfolio that would have been just fine
I keep wanting to buy another rental with leverage but i watch this and it puts out the fire for me. Love watching Ramsey!
Nice to see Dave come around and start talking some sense.
I paid off 40k of debt and I only had to do is sell all my dave ramsey books 📚. Thanks Dave
Seriously, I need you to run my garage sale. I can't hardly sell used books for anything!
Is that hate on Ramsey or sarcasm...?
@@colin1818 buy better books and take care of them. My wife has multiple books, purchased brand new at retail, now worth thousands used.
Don’t crease the pages. They go back on the shelf where they came from. They’re mostly for looking not for touching and her office is essentially a museum at this point.
@@titanproductions3628 Dave Ramsey is a fool
@@ryugurena3327 and yet he’s a multi millionaire and your in a basement typing :(
I’m 19 years old and I needed this
I'm in my early 30s and love my old man house shoes.
😂😂😂
34, working from home, love mine as well
I wear slippers all the time
I'm 29 and I have slippers and robes. Best inventions ever lol
@@Elemiriel So true Katherine!
You kids are ahead of the curve! Congratulations!!
If people just avoided debt they wouldnt evn feel the need to get rich rich, especially so quick.
I avoided debt and quit smoking, drinking and eating while investing every penny possible but its still not enough. I just got in a car accident so I'm in debt again 😢😢😢 It's time to skip eating meals until I can get out of it.
@@ryugurena3327 Yikes :[
@@ryugurena3327 dang bro..
Yea debt, and women. Just focus on you.
Respectfully disagree
"A message for you" -----> tells the same story he's told 1000 times
lol and? But that’s what older people do… they love telling same stories 😂
😂😂
The same very self-centered story at that lol
Real estate is not for me in my country because of taxes, prices and laws. Too much stress for the ROI. I'd rather invest elsewhere and within my means
I owned a house and hated every minute of it.
Where would you invest
I am debt free !!! Your my hero Dave ❤️
Why is he your hero. He didn't make you debt free, he just gave advice. You're the one that put in the work, paid off all the debt and changed your life. You're the hero
Hubby and I are both 24, and we’re so blessed to have found you before we got married in 2018. THANK YOU for everything that you do, Dave!
First rule do not get married before 30
@@annajones9701 why not get married before 30?
And here I am in Canada, with the average salary at 57k and the average house at 700k and no urban area with homes selling for less than 450k.
I do agree with Dave, although listening to this it almost seems that he went from one extreme to another.
20 - 30 crowd here! Ready for the rant. 😂 But for the record we are making a lot less for doing more work than compared to Dave’s time.
Please, no victimhood statement required.
Go look at what interest rates were in the 80's when I was your age and come back to us.
Exactly! People can't slow down when inflation is moving faster than the average pay raise. It's a necessity now to have multiple streams of income just to survive or get a head in life. The message really shouldn't be to slow down. It should be to inform people to do proper research before jumping into anything.
@@searphhoney , and you have to have a financial plan. As Dave preaches. Nothing good financially, is going to happen to you by luck unless you win the lottery or inherit a bunch of money, and even then, if you don't have a plan, it will probably do more harm than good to your long term financial health. And, making saving money and investing it, a priority in your life, is always going to be the bedrock principle.
It’s interesting his take on that generation, I’m in it and I look around and I feel like it’s a “do the least amount of work for the most reward” attitude. I feel like people my age want everything right now:the nice car, the bigger home, go on vacations, etc. my husband and I feel like we don’t relate towards most people our age.
I just turned 20 year old and next week I'm going to move in Lisboa for work and I can't wait to think smarter with my money.
Guys, I hate technologies but we got all the keys to be financial free.
WORK ON YOURSELF, YOUR FUTURE AND no matters what other people (even family) say to you, just do it.
Watch documentaries, adquire knowledge.
I feel like I worry about stuff where later on in life imma look back and be like why was I worried
I just told myself this 🤦🏾♀️
This is getting across a real important message 🤧 watched this like four times to make sure I could appreciate it properly
Age 20-30 Is pre-season
@Jacob Rodriguez who else?
I would say its the regular season and the rest of your life is the playoffs
@@dankestranch8738 no, for men life begins at 30 and for woman it begins at 18. It's because of hormones and the different roles men and woman play in society. Woman develop faster but men have a higher level cap. In short men have infinite time but woman have control of life.
@@rajunaidu7751 total nonsense, did Reddit tell you that? Most people, male or female do not start to build significant wealth until 30+ because it takes time. Has nothing to do with “biology”. And nobody has infinite time...that’s extremely dumb.
@@ashalemmie8747 thank you. And men mature at the same rate it's just that so many are excused for immaturity and bad behaviour lol
Thank you for everything you do, Dave
I'm 27 and I should have all my debt paid off by August. However, I don't know what to do with my life. I have a useless degree and no passions. It's very depressing. I make 30k and I feel like I'm wasting my time.
Use your free time to sit down and think of what you want to do next. Congrats on being debt free, once everyone hint is paid off you will be free
A quote that blew my mind, “there is no purpose to life, you make purpose to life”
What did you study and what do you do atm?
A job is for making money, you do not need to be passionate about it. Google good paying careers and see how you can pivot into one of them. Get a hobby as it will give purpose to your life.
Find a purpose bigger than yourself. Be it God, raising a family, being another Elon Musk, whatever it is! Humans are flawed by nature, there's a reason superstars become drug addicts and lose their empires.
I studied engineering and hated it and the job mostly because of terrible managers. My passion was always electronics and that's what I do now - reselling old as well a new IT hardware and make a killing doing it. But what I love the most is that I'm working a job to build my own life, not working a job to build someone elses
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@lennoxmutterick6434 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@BrandonIvan-c6e Oh please I’d love that. Thanks!
@@lennoxmutterick6434 Clementina Abate Russo is her name
Lookup with her name on the webpage.
Timing matters more than even what you choose to invested in.
Education, timing and discipline.
Knowledge is the best tool to have
The Gamestop craze as mentioned has nothing to do with getting rich fast. It's an outcry from the younger generation against the establishment. That's an entirely different topic.
Don't kid yourself, the vast majority of people that bought in after it started blowing up were just trying to get rich fast. Only the ones that initially invested were truly trying to fight against the hedge funds.
He is talking about the character of this generation
the fact ramsey is worth 475m speaks volumes and I salute you sir. I am a wealthy man at heart and it will speak volumes in my wallet one day sir. Thank you for your service.
Seen it happen a lot that’s why slow and steady wins over time vs fast cash now
It’s message has kinda changed my whole mindset in a sense like … I’m a person that believed I could build a life of Financial peace that didn’t have me working my brains out everyday every week, however that didn’t help me with my responsibilities Rent, utilities, etc. I guess for a little bit I do have to do what I don’t want to just do I can do what I want
I don’t get this video. Invest in what you want. There isn’t a one size fits all approach to life
Just because he didn't get it right first time doesn't mean someone else can't
I think his point was it's important to still have cash, not just assets.
@@davyhoogy yeah that’s my issue. He acts like just because he messed up, that’s everyone else.
I think he should be more encouraging of young people wanting to better their lives at all, point out certain aspects to avoid.
He says it himself he was a millionaire, so its possible, he just put too many eggs in one basket and the handle snapped
am learning a lot from this ramsey fellow, as someone who knows nothing about money this is educational
I’m 103, and almost debt free!
are you really 103? Impressive! I'll follow your footsteps
@My financial Friend what? How do I do that?
I told my children don’t get in debt. One bought a car the only debt. I told them to invest on assets. I am teaching them and I learned late but it’s not too late.
good habits. They are lucky. My family was the typical consumer and didn't invest. It's hard go break but Dave helps
I'm glad you guys removed that loud annoying intro.
Wow didn’t even notice
@@Brazillianboi69 me either. I had to restart it to check it out.
I asked so many times.
Yup, so happy it's gone.
No kidding I listen with headphones and that intro was a killer
Today my debt has paid all. So happy! Thanks Dave
I only have to pay off the house now! I’m 26 with two kids and one source of income! You can do this too!
I'm 23, and this show has been a lifesaver with greats amounts of wisdom, I need to get out of debt, what's the best way to get out of school debt by the age of 30?
I’m 24, debt-free, making 80k a year out of Florida, and my net worth recently exceeded 100k. I'm looking to purchase my first income property soon.
Thanks to DR, my wife and I realized the error of our ways early. Now our eyes are opened to the awful mismanagement of income of some of our family and friends. We’re now incredibly cautious in our savings and rarely spend on our wants. At the same time, we’re trying to claw for higher income to have even higher monthly cushions in our budget.
The message is to slow down and think critically before using Other People’s Money and getting into ridiculous debt (all debt is ridiculous) and I can appreciate that message.
I'm 23 with 20k saved and still don't know what I want to do. I just want to be comfortable, but making 20k a year sucks. I can only imagine how much money I could save if I had a better paying job, but I didn't go to college. If anyone else feels stuck like this please feel free to share.
At 23 I didn't have much more than about 500 bucks in my bank account lol
You have plenty of options to improve your income. If you don't want to pursue a traditional college 4-year degree, many community colleges offer career certificates in things like construction and technology that take only months to complete. At my wife's college, many of these students have job offers at 40-50k per year before they graduate. You are too young to lock yourself into a life of working poverty.
I know me saying this most probably will get shrugged off as 'old man' talk, just like Dave is saying here. But I once was 23 and did not have 20k, and I thought I was stuck then, and that mentality lead me down a path of despair without even realising (I dropped out college). You have made an awesome start with your savings. Just keep pushing that mentality to do a little better every day as time goes on, put things into action, and keep progressing. You will do awesome.
Over leveraging myself on my second rental property was painful lesson I had to learn, also. Experience has taught me that slower is better and having liquidity is safer.