George Kamel - What to Do After You Get Rich

Episode Date: February 11, 2026

🚢 Set sail with George! Book your cabin today.   Today, I’m going over a list of 11 things you should do once you’re wealthy—which I’m defining as being totally debt-free with a paid-for house and a $1M net worth. If that’s where you currently are, then you officially have my permission to start enjoying these things. If not, then this is something you can aspire to.   Next Steps: • 🎥 Watch my video Money Experts React to the “New Economy” (feat. Rachel Cruze): https://www.youtube.com/watch?v=l4r9w3okig8 • 📈 Are you on track with the Baby Steps? Get a free personalized plan. • 💵 Start your free budget today. Download the EveryDollar app!   Connect With Our Sponsors: • Get up to 20% off Cozy Earth with code GEORGE. • Get 20% off when you join DeleteMe. • Save money on your phone plan with Boost Mobile. • Go to FAIRWINDS Credit Union for an exclusive account bundle!   Explore More From Ramsey Network: 🎙️ The Ramsey Show 🍸 Smart Money Happy Hour 💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 💡 The Rachel Cruze Show 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership   Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

I spend a lot of time on this channel telling you what not to spend money on. Don't eat out. Don't subscribe to every streaming service. Don't spring for the Busendorfer Grand Piano at the Costco checkout. Boosendorfer? Hardly know her. German humor. That really gets them tickled.

Gets a slight smirk out of them at best. I will hear no more insinuations about the German people. But the point of all that saving is to help you build wealth. And once you've done that, you should enjoy your money. So in this video, I'm not going to be a fuddy. I'm going to switch things up by going over a list of 11 things you should do once you're wealthy, which I will define as being totally debt-free with a paid-for house and a million-dollar or more net worth. If that's where you are, congratulations. You officially have my permission to start enjoying these things.

If not, then this is something you can aspire to. And side note, you don't need to go do all of these things. These are just ideas of ways to enjoy the money you've worked so hard for. So pick the ones that most excite you. What most excites me if you hit like on this video and subscribe to the channel. Go ahead and do it. Oh, wait, it really excites me. Wait, right?

Freakia! Thank you. And I got to show some love to my friends that delete me for sponsoring the channel. More on that later. Let's get to the list. Number one, go for the extras. This is all about giving yourself permission to stop living like you're broke. You've built margin, you've got the cash, so it's okay to live a little.

Listen, I'm preaching to the question. wire here. This is something that I still struggle with because I've flexed that frugal savings muscle so hard that the spending muscle is a little atrophied. And let me tell you, this bad boy, you don't want to see what's under the hood, okay? Your flabbers would be gasted. I'll tell you that much. So what does that look like? Book the flight that doesn't have a 5 a.m. layover. Buy the nicer couch with the performance fabric. Stay at a hotel that doesn't put the toilet inside the shower. And yes, unfortunately, that's a real thing. Shout out to the Pod Hotel in Brooklyn. I will not be staying in your facilities. I'm already going to call it a hotel.

It's a facility. Small quality of life upgrades like those won't wreck your finances and they'll let you actually enjoy what your money can do. Number two on the list, get a new car. I know. Them fighting words for me because you know you're like, George, you always say we should only buy used cars. Well, there's one exception, young Jedi. Once your net worth exceeds $1 million, I am a okay with you buying a new car if you if that's what you want to do. Now, realize that car will still depreciate like crazy, but once you're a millionaire, you can afford to take the hit, you can stomach it.

So if there's a car you've always wanted, go for it, as long as you're paying cash and the total value of all the vehicles in your life isn't more than half of your annual income. So let's say your household income is $120,000. Well, that means the total value of all things with wheels and motors in your life should not exceed $60,000.

And just make sure it's a purchase you've thought through, okay, and please make sure it's not a, Hyundai Santa Cruz. What is it even trying to be? Okay, it looks like like a street shark. It's trying to get roided up and nobody buys it. We know you're scrawny on the inside, Hyundai. Well, that's just your personal opinion. Now personally, I still like to buy slightly used to let someone else take that initial hit on depreciation. And I love feeling like I got a deal. Next up on the list, max out retirement investing. If you've been investing 15% of your income like I recommend, great. But once your house is paid off, you can take it even further. Start

maxing out your 401k, your Roth IRA, your HSA, whatever you have available to you that has a tax advantage, use it. And if you're self-employed, that might include a SEP IRA or a solo 401K. The point is, you've got more margin now, so don't leave that opportunity on the table. Let that compound growth keep doing what it does best. You'll build even more wealth for the future and give yourself extra freedom and options down the line. Number four on the list, invest beyond retirement. Once you've maxed out your retirement accounts, the next move, is to start building wealth you can access earlier before your 59-a-half birthday.

Or 55, if you're hip to the rule of 55. Google it, nerds, I'm not going to do it for you. I'm not your mom, I don't Google things for you. Love that. Love the idea of you asking your mom to Google something. That's wild behavior. Mom! Mummy!

Retirement accounts are great, but they're also restrictive. That money is off limits unless you want to face penalties and tax consequences. And hey, maybe you want to stop working full time in your 50s, or be work optional. Maybe you want to fund a business idea or go all in on that hobby. Maybe you want to pay for Katie Perry to go back to space

and not come back this time. You do you. Who am I to yuck your yum? And let me tell you, the entire team hates when I say that. I don't know what it is. Is it the word yuck? Or is it the word yum?

Or is it the conjunction of those words coming together? Maybe it's both. Now, if you fall into any of those categories or you just want some extra flexibility, you need to start building wealth you can access before traditional retirement. age. You might hear this called a bridge account. And all it is, it's a general non-retirement

brokerage account that is not tax advantage like your 401k or Roth IRA, but it gives you freedom to invest in withdraw without early withdrawal penalties. You can invest in mutual funds or index funds, the same kind of diversified long-term investments you're already using for retirement. You don't need to build this account overnight. It's going to take time, but just start funding it regularly like you did with your retirement accounts. And the goal here is to cover your expenses until you can access those retirement accounts without penalties. Next thing to do once you're wealthy, work on your generosity bucket list. And listen, I hope you're already generous with your money.

Like my friend Rachel Cruz says, give a little until you can give a lot. Giving is not a step you have. It's a habit you build early on, and you keep it going, and it just scales over time. Giving is important whether you're a millionaire or you still get excited whenever Pizza Hut brings back the deal lovers menu. Or if you're like me, you're both people at once,

an enigma, a riddle wrapped in a rhyme. You'll never figure me out. But once you've built wealth, you can take your generosity to the next level. So here's the question. What have you always wanted to do for someone else but couldn't afford to? What was that Instagram reel or TikTok that just made your eyes leak when you saw the generosity that changed someone's life? And I'm not talking about little things like giving your Applebee's waitress 100% tip

because your OM Cheeseburger was piping hot. And those are all real things. And I will show you to prove it, the ad for the... O.M. Cheeseburger. All right. Oh, my. Cheese. Why is it gurgling?

The only O.M. Cheeseburger from Applebee. It's so chunky. That looks like it's boiling. It just boiled cheese. It's just boiled cheese. Okay, this part's fine. Oh, and we're back. So push the cheese.

Pull the cheese. Oh, love the cheese. Is that kind of cheese? What are they soaking it in? Oh, it's so wet. Also in our 2 for 25 menu. That is the most moist. Guys, and here's the sad part.

Here's how I know, we probably have five to 10 years left as a nation. This video has 3 million views. And here's the darker part. Comments are turned off. Wait. What? Were they turned on at one point and people were so upset by it they had to turn the comments off?

That's what I want to know. Goodness gracious. And does Applebee's posting regular content? ASMR, one hour of soothing grill sounds, 485,000 views. I quit. I'm gonna be an Applebee's influencer from now on. Okay, I'm done. I digress. Back to generosity. The generosity I'm talking about is funding college for family or even friends,

covering a family's adoption costs, funding a down payment on a house for your kids, buying a car for a single mom. The world is your oyster. And with a million dollar net worth, you can write a check that literally, changes someone's life without even putting a dent in your own finances. And that truly is the most fun you can have with money, way more than spending or investing. So start planning for whatever's on your heart and make it happen. Start dreaming. This is where your money gets to serve a bigger purpose beyond you in your immediate family, which leads us to the next item on the

list. Create a legacy plan. This is the part most people avoid because it feels like boring admin work, but it matters. You need to have a plan for what happens to your wealth after you're gone. Now, the legacy plan starts with a will, but it's also about updating your beneficiaries, lining up power of attorney, and making sure your assets are protected. And maybe for you, that could mean a trust. And if you've never looked into an umbrella policy, this is a good time to start. It's a low-cost way to add another layer of protection over everything you've built. Because the truth is, as you acquire more wealth, you become more of a target. The point of a legacy plan isn't just to pass on money wisely. It also protects your loved ones from

confusion, legal messes, or unnecessary stress once you're pushing daisies. A good plan gives them peace and it honors the work that you've done while you've been on earth. And to save you some time, I'm going to drop some links in the description to the people I use for my legacy plan. Now, none of these are sponsors for the channel, but I always get DMs. Hey, who'd you get your term life through? Who can I trust? Hey, where can I make a will and do it simply? Well, the answers are pretty simple. Zander Insurance for Term Life and Mama Bear Legal Forms for a living will. So I'll drop links in the If you want to check those out and get started on that legacy plan. Next on our list, let's get back to some fun, shall we?

Upgrade your home. Maybe you want more space. Maybe you want a better layout or a better location. Maybe you're ready to finally go to sleep every night in a room with Enrique Iglesias painted on the ceiling. Just me? Listen, I'm telling my kids this is the Sistine Chapel. Michelangelo been real quiet since this dropped. If you want to upgrade your home, either by moving or renovating your current home,

you've got lots of options once it's paid off because you have 100% equity and no mortgage payment, which means you can cash flow all of this. And that's the really important part. We are not going backwards. We are not going back into debt. We're not going to, you know, open the HELOC to fund all of this. Whatever you decide to do, do it at the speed of cash. You've come this far. You've gotten completely out of debt, so don't screw it up now. Plan the project, save up, and pay as you go. And speaking of homes, the next one on the list, invest in real estate. If you've been curious about rental properties, this is the time to explore it, but only if you're ready for what it takes. You see, all the real estate bros on TikTok and Instagram want you to think that real estate investing is passive income.

But take it from this bro, investing in real estate is a business. It is work. It is headaches and stress. You're either managing tenants, contractors, or property manager, all of which is work. And there can be expenses that you need to be prepared for. Now, if you're good with that, awesome. An investment property could be a great way to diversify your business. portfolio and create another income stream. Just one rule here. You guessed it, pay cash. Yeah, I know, you're just, how it's this guy's so out of touch? No mortgages. Real estate comes

with enough risk and unpredictability on its own. You don't need to stack a monthly payment on top of that once you've created options and flexibility. That's going backwards. You've already worked so hard to pay off your primary residence, so let's not go backwards into debt, adding more stress. And the good news is you should be able to save up pretty quick now that you have a great income as your career has progressed and you don't have a mortgage payment. So I don't want to hear it. Save up like a big boy. Number nine on the list, buy back your time.

This is one of my favorites. It turns out when you're wealthy, you don't have to do everything yourself anymore. Because if there's a task that sucks up your time, energy, or joy, odds are you can afford to delegate it. That might mean hiring someone to mow the lawn, clean the house, handle your taxes, or go to your therapy appointments for you. Listen, if you got a doppelganger or a chopper,

ganger. I'm not mad about it. Olson twins probably did this for years. You got it, dude. This step is all about using your money to create space in your schedule and spend the extra time on whatever matters most to you. And for my friends across the pond, schedule. A British gentleman. Now you may be wondering, George, what matters most to you? You know what, thank you for wondering. Never going more than two weeks without a haircut, my family, and banking with someone who wants me to win. And yes, in that order. And that's why I use and love Fairwin's credit union, a sponsor of today's video. Here's the thing. Most banks are happy to see you fail, but Fairwin flips the script and they want to see you win, which is why they created a smart

bundle, complete with a fee-free checking account and a high-yield savings account. And when you open one today, you get your very own, debt-as-normal-be-weir debit card to go along with it. So, get it all at fairwins.org slash Ramsey or click the link in the description below. And before we cover the final two items on our wealthy to-do list, here's something everyone should put on their to-do list, signing up for Delete Me. sponsor of today's video. Delete Me works around the clock to scrub your personal data from hundreds of data broker sites, which means they can't sell it to spammers and scammers, which means you won't be as big of a target for spam and scams. You don't want your address or

phone number or email floating around the worldwide web unchecked. So sign up for Delete Me today and get control of your online privacy and you'll get 20% off their annual plans. Just go to join Deleteme.com slash George or click the link in the description. All right, back to our list. At number 10, we've got buy a vacation home. Now, this one isn't for everyone, but if you've always dreamed of having a house at the lake, a cabin in the mountains, a condo in the east side of Cleveland, you can start exploring that now, no judgment.

But it needs to make sense financially. And guess what? You're going to pay cash. And you need to consider the ongoing costs like utilities, taxes, maintenance, travel. Think about all the costs associated with your home and then make it times two. But hey, if the math checks out and it's something that you would enjoy often, this can be a really meaningful way to use your wealth. And finally, last but not

least on our list, create unforgettable experiences. Now that you have big time margin, use some of it to create memories with the people you love. This is where you start checking items off the bucket list, doing that thing you've always dreamed of. Take the trip, book the cruise, fly your kids or grandkids in for the holidays, travel with friends, go see the world, attend the Taylor Swift farewell tour at the Sphere in 2016. You heard it your first. I got the name, the final era. You're welcome. You're not just spending money,

you're investing it in the people you love and the stories you'll remember for the rest of your life. And this is why I had so much fun on the Ramsey Live Like No One Else cruise we took last year. Here's the concept. All of these amazing people

who followed this plan, followed our advice, they became debt-free. They got the emergency fund and now they're building wealth for the future. So we said, let's celebrate. Let's get them all on a cruise and we had the best time going all over the Caribbean.

It was amazing. And if you missed out, we're doing it again next year, and I'd love to see you on board. So much so that I'm hosting a coffee hangout on the ship exclusively for the first 50 people who book with the link in the description and use the promo code, Coffee with George. Hope to see you. Don't miss the boat.

Sorry, I'm obligated to say that. No, but seriously, it's going to be a great time. And if you are debt-free with the emergency fund, you're investing, you're in what we call Baby Step 4. It's a great time to start budgeting and save up to join us for the Live Like No and No. And speaking of cruises, one of my favorite cruises, Rachel Cruz, recently joined me on the channel to react to people on TikTok coming to grips with the cost of living. So click here to watch it next or use the link in the description. That's it for today. Let me know in the comments what you're most looking forward to doing once you've built some wealth. Thanks for watching. We'll see you next time.