The Ramsey Show - App - Anyone Can Become a Millionaire (Even You) (Hour 1)

Episode Date: October 18, 2023

Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Our goal here is to completely indoctrinate you into a whole new way of thinking called common freaking sense. We want you to join the cult, drink the Kool-Aid, or whatever other negative crap you've heard. Jump in. We'll help you. It's what we're here for. Ken Coleman, Ramsey Personality, is my co-host today. And of course, the phone number here is 888-825-5225. You have stepped

square in the middle of a baby steps millionaires theme hour. What that means is we're going to take questions from millionaires this hour only and we always have to help folks with that because people are apparently confused. They took economics from their Karl Marx indoctrinated college professor, and so we have to explain to them how this wealth thing works. Here's the way it works. Net worth is how you become a millionaire. It's not your income. You can make a million dollars a year and not be a millionaire. A millionaire, by definition, it is an accounting definition it is not you don't get to make up your own definition this is the only definition is what you own minus what you owe assets minus liabilities equals your net worth when that number is greater than a million dollars you are a

millionaire well it i don't feel i don't care how you feel. It's not a feeling. It's a math entry. I don't think anybody ought to have that kind of money. It's not a moral construct. A million dollars is not enough. It's not an economics lesson. It's a number called net worth. When you reach that, you are by definition a millionaire. Now, we can discuss the other parts of that if you want, but in the meantime, let's talk to people who actually achieve the milestone of becoming a real millionaire, because people out there inquiring minds can want to know. They do. They do. Phone number, 888-825-5225. We're going to talk to real millionaires, not your broke brother-in-law who votes wrong. We're going to talk to people who really did this stuff mike is in woodstock georgia mike

what is your net worth 11 million boom wow and uh give me a little breakdown on that dude so i've got about five million in real estate my split of the business I own is about $5 million right now, roughly. And then I've probably got another million in rough assets between cash and I don't really do stocks or anything. So that's the rough numbers there. Very cool. All right. How old are you? 28.

Holy! Wow. And how much of this did you inherit? None. Zero. You did this did you inherit? None. Zero. You did this from nothing by 28 years old. Yes, sir. Whoa.

Okay. So what's been your range of income since you started working to your best year? Kind of hard to judge, but I would say starting at 18 was probably my lowest year around 80,000. And then my best year would probably have been last year was a little over $2 million. Okay. Good Lord. What do you do? I own a property restoration company.

Oh. Specializing in water damage, mold remediation, fire damage, construction. A lot of it, too. Yeah, a lot of it. We have two locations. Wow. You guys are doing some volume. Good. Good for you.

Wow. So are you a college graduate? I'm not. I'm a dropout. Loud and proud. Hey, I'm with you, Proud. I'm with you. I'm with you.

Okay. So you were in college, though. What were you studying? I was studying whatever made my mama happy. She was the first to graduate of our family. And now mama's not happy. You're just highly successful is all. Oh, well.

We're past that now, but there's multiple years of you're not going to make it. I love it. Okay, so what was your GPA? Do you remember in high school or in college? It was always above a 3.0. I'd say average is about 3.5. Okay. All right.

Very good. Floating by. Okay. So there's an 18-year-old out there listening that shows us over TikTok today, and so he might actually get some real information from you because you actually did this from 18 to 28 in 10 years, went from $80,000 to $2 million income with an $11 million net worth, removing mold and mildew and water damage and doing a lot of insurance work, I suspect, on volume. What do you tell that 18-year-old the secret to your net worth is? Where did it come from? Well, it came from my stepdad, who's actually a gigantic fan of you. And he kind of put this in me at a young age. And so when I hit my successes, my big focus was, I don't know how long this is going to last. And I need to pay off debt. I need to get ahead. I need to make sure that I set myself up for the future. And it's addicting. and it's just like you talk about. And when you knock it out and you put it behind you, um, it, it really allows you to do a lot more investment type

things like I've been able to do with real estate. Um, but I would say the biggest thing is, is you don't have to have a college degree. You got to have a work ethic and you need to make good choices, choices that will help you in the future not punish you right now or punish you later what kind of good choices what does that mean so when I started my business and took a risk I took just enough money to pay my bills and pay my mortgage and my car payment and all the normal stuff okay so choices were your good choice was you didn't consume everything you made you plowed it back in.

Immediately. And I got my first distribution, and I put it all down on my house, the house that I bought when I was 19. And I was able to have it paid off by the time I was 23 years old, 24 years old. Fantastic. I want to ask a question on choices. You're a 3.5 in high school. So, I mean, you've got obviously intelligence,

you didn't slack off, but you dropped out of college. At what point did you realize that you wanted to do the work you're doing now? And did that play into you dropping out? It certainly played into dropping out. I realized I had a good gig coming out of high school. I started at the very bottom at a restoration company at 16 years old, and I found it fascinating. It seemed like the owners did really well, and I wanted to be in that position. And so I worked my way up to project manager, general manager, vice president, so on and so forth, and I was doing really well. So I kind of told my mom, you know, I'm doing great. I want to jump out.

And it was the greatest decision I ever made. If I wouldn't have had that there, I may not have taken that risk, but it was a calculated risk for sure. Do you love what you do? What kind of emotion would you attach to your work? I love what I do, and it consumes a lot of my life. My biggest struggle is making sure that I have a work-life balance because I've got a lot of people that look up to me to lead this ship,

and so I have to be good every day. And so that's a good pressure that keeps me going, but I very much enjoy helping people, and I very much enjoy being able to take care of the ones that support me and support this business. Wow. Mike, you're an American hero. Small business is the backbone of America.

28 years old with an $11 million net worth. That's fascinating. He's Exhibit A, the study, the largest study of net worth millionaires ever done by Ramsey Solutions, said that 96% of these kind of people, like Mike, love their work. And he loves what he's doing for people. I hate my job. I hate my boss. I hate my company is not a formula to wealth. That's right. Hello. This is the Ramsey Show. Ken Coleman, Ramsey personality, number best-selling author of the book paycheck to purpose the career expert around the uh ramsey personality bunch he's my co-host today this is a baby steps millionaires theme hour we're talking to real millionaires not broke people with an

opinion on tiktok real millionaires what did you do? Who are you? We want to learn about you so we can be one of you. That is what America is saying to you. If you're a real millionaire, call us at 888-825-5225. Marsha's in Charlotte, North Carolina. Hey, Marsha, welcome to a Baby Steps Millionaire's Theme Hour. What's your net worth? Hi, Dave and Ken.

It's so nice to talk to you both. My net worth is $1.29 million. Good for you. And give me a little breakdown on that. Sure. I've got $740,000 in retirement between 401k and a Roth IRA, $350,000 in equity in my house, and the balance is made up of just liquid cash and other non-retirement investments. Good for you. Well done. How old are you? I just turned 45 last month. Cool. And how much of this did you inherit? Well, the only thing I've inherited so far is just some knowledge and good old-fashioned walking around since but there's been no money no money okay that that's well you got you do have an advantage just the same uh because if you got walking around since it's more than most people

got so there you go this is true you know so uh your range of income your best working year to your worst working year yeah when i first came out of college, my first big girl job was making $31,000 a year, and I'm currently making between $165,000 and $170,000 depending on health bonuses and profit sharing work, though. What do you do? What's your career? So I am an insurance claims professional. I work in a technical space for a commercial property and casualty insurer, and I'm currently in a leadership role leading other claims professionals. Four-year degree? Yes, a four-year degree in finance.

In finance, okay. And your GPA when you were in school? It was probably about a 3.0 or a 3.1. I've kind of put that behind me, Dave. Yeah, yeah. I have tried to forget mine because it's a 2.97, and I'm really pissed off about that 3.1 still 40 years later, but I think it had something to do with beer. I don't know. But anyway, yeah, so way to go. Way to go. You're single, it sounds like. I am.

I've never married and never had any kids. I am a one-woman band, Dave. I love it. Good for you. Well done. What do you tell a young version of you, 25 years old, that's listening? Can she do it in America today? And if she can, what should she do if she wants to be you?

Yes, she absolutely can if she wants it to happen. If you want it to happen, you can. I think one of the biggest things is finding discipline. That was something that was difficult for me in my early 20s. You know, who do you want to be? You decide who you want to be and follow a proven plan and a process to get there. Also, finding contentment, just enjoying and being happy with what you have. You don't have to buy all the big, happy, shiny things.

Those will come in time. But just learn contentment with what you have. And also I think a big thing, too, is discernment, learning discernment with the company you keep. You are who you hang around with. So if you want to be a fool, hang out with fools. If you want to be successful in life and live a rewarding life, find those that are successful and have a rich, rewarding life and keep company with those people. Wow, that's really deep. I think a lot of people listening in are wondering,

what did you do to be intentional in that last statement to put yourself around the right people? Who were you seeking out along your way? Well, I wanted to find people that lived a life that I aspired to have. I mean, not unlike a lot of young 20 people, single people, I like to go out and have a good time. So I was running with a crowd that was just living to go out and have a good time. So I was running with a crowd that was just living day to day, having a good time. I decided this is not who I want to be when I grow up. So I need to find other people. So I sought out people who were successful in life, not only with wealth, but had fulfilling lives and decided that I want to model myself after them,

see what they're doing, and be that. What's the biggest money mistake you've ever made? Oh, man, how can I count the ways? So I would say the biggest one was probably when I purchased my first home. It was, I think, around 2006 or 2007. I was not financially prepared for it at all. I didn't have any money. I had debt.

So I took out one of those subprime loans in 80, 20%. So basically, yeah, the second high interest, the 20% loan was variable. So when interest rates went up, but I fought through that, I paid it all off myself. Probably another big mistake I made was purchasing a new car. But you live, you learn, and I think part of life is learning grace, too. Give yourself grace. Allow yourself to make a mistake. Just don't make that same mistake twice. There you go.

I like that. Try not to compound the dumb ones, Joe. I love it. Well done. Well done, hero. Proud of you. Melanie is in Las Vegas. Melanie, what's your net worth? Hi, Dave. Absolute honor to talk of you. Melanie is in Las Vegas. Melanie, what's your net worth? Hi, Dave.

Absolute honor to talk to you. My net worth right now is 1.8. Cool. Give me a little breakdown by category on that. It's a mix of retirement accounts between my husband and I. It would be how much? Retirement accounts? Mm-hmm.

Oh, goodness. Mine, I actually break it down every six months. Mine in July was about $307,000. My husband's is about $266,000. Okay. So about $600,000 between those two. All right. What's the other 1.3? We have college accounts for our kids, about $180,000 and $529,000 for them. We have property valued at about $900,000. So that's our main house, and then we have a rental property as well. And then between bank accounts and other taxable investments, it's about $200,000. Okay, very good.

How old are you? I'm 44. Good for you. Okay, and how much of this did you guys inherit? So we actually own a business on the side, which I don't count in my net worth currently. But the money that we used to open that was inherited for my mother-in-law. How much? You know, I don't know.

How much did you inherit? Oh, it was about $200,000. Okay. All right. So that helps you guys in this net worth, although that particular use of that $200,000 is not calculated in this 1.8. No, sir, because I don't know exactly how much the business is actually worth. Gotcha. Okay. And your best year of income and your worst year of income since you started adulting?

Well, I am a service member, so my worst year of income was when I first came in, about 25 years ago, so maybe $30,000 a year, if that. And I would say the best is now, between my husband and I, we make about $250,000. Good for you, good for you. And which branch do you serve in? The Air Force. Thank you, thank you for your service. Oh, thank you. It's my pleasure. You got a four-year degree? We do. My husband and I both have MBAs. Okay. And what was your GPA in your MBA program?

Mine was probably about a 3.6. My husband probably about a 4.0. Okay. Very good. Well done. Well done. Thank you. What's the biggest mistake you ever made with money?

The dumbest thing you ever did? So I actually have two things, actually. One was really big. One was really small. When my husband and I were first starting out, we were first married. We didn't have a lot of money, and we had saved maybe $1,000, which was huge to me. And we got taken by a door-to-door encyclopedia salesman, and we ended up paying $1,500 for a set of

encyclopedias which I have had for 25 years. You're not old enough to buy a door-to-door encyclopedia. You must have been 12. You wouldn't think so. A lot of people don't even know what that is. Wow. I still have them. Oh I bet. They have made many moves with us. Yes. The other money mistake was we purchased a home in California when we were stationed there. And we had some, I wouldn't say it was bad advice, but we trusted some folks that were older and had money. And we thought they were smart with money. And they told us to kind of weather the storm. We bought our house in California in about 2004. And we moved from California to Las Vegas in 2007.

So it was about right around the market crash. And we should have just sold the property, but we decided to weather the storm, and we held on to the property for about a decade. And we took a huge loss on it over the years. We couldn't rent it for what the mortgage was. Ouch. That hurts. Bad real estate deal. Number one mistake. huge loss on it uh over the years we couldn't rent it for what the mortgage was ouch that hurts bad real estate deal number one mistake good job melanie way to go hero ken coleman dave ramsey it's a baby steps millionaires theme hour

ken coleman ramsey personality is my co-host today this is a baby steps millionaires theme hour we started doing these theme hours which led to a research project the largest research project ever done on millionaires in North America we ended up studying with airtight controlled research technique over 10,167 millionaires. We came to some very interesting conclusions from that research. It informed us some things we thought we knew that we didn't and really had some numbers that were kind of mind-blowing when we got into it. We did that and we started this hour because I kept hearing from all the hope stealers, the angry leftists, that America is dead.

You can't become a millionaire in America today. It's impossible. You know, we must have anarchy. We must have Karl Marx sitting on the throne of communism because the little man just can't get ahead. All millionaires today in America have inherited their money. You've heard that, right? All millionaires have some kind of privilege.

You've heard that, right? And it's basically victim speak from hopeless people. And it's really, in one sense, it's angering because it's defeating other people's hope. But in the other sense, it's sad. It's pitiful to live a life that thinks you're stuck and you can't win no matter what you do. People like me, we can't get ahead. The neighborhood I grew up in, you're always going to have a car payment. You can't be a student without a student loan eeyore is my spirit

animal i mean you know how these people sound none of them sound excited there's never any crispness or sparkle or passion in their voice it's always like somebody's dragging them around behind a car when you're talking to them oh it's bad and all the rich people and all the people in the other area of the country and all the people that are a different color and all the people that are a different sex and all the people oh shut up really that's just wrong and the data proves it's wrong that's why we started doing these to introduce you to real millionaires because they're from every area of the country every age group every level of education every color every background cajuns to hillbillies to african-americans to um chinese immigrants i don't care you just name whatever group you want to name. We find millionaires in them.

And we find victims in them. And we find hopeless people in them. You know, it's like, I'll never forget, Ken, the first time it blew my mind, when I first started doing this years ago, I got a speaking gig in New York City. And I had never spoken, I mean, I'd primarily spoken around the South. So pretty much, you know gomer powell goes to new york to speak right and so shows i am you know and it's like well golly but you look at all them people and so i go up to new york and i'm in this huge ballroom and i speak to this group of

about 2 000 people and i had books and i'm signing books at the end and it looked like the united nations i mean you've got and of course New York City is a melting pot you got everything right it looked like any possible uh background or mix of backgrounds right and so I'm signing books and I'll never forget this lady came up to me she goes you don't you don't understand what I don't understand she said well you know the people like me we we all all my people buy new cars and i'm like uh that's like everybody what are you and she said i'm puerto rican i'm like it's not a puerto rican disease baby it's that's not unique to puerto ricans it's like but she had

figured out that puerto ricans all had to have new cars in her mind because she was puerto rican isn't it funny how we do that stuff and that's why we do this hour is to defeat the kind of mythology, the tapes that we play in our heads that give us an excuse to not go leave the cave, kill something, drag it home, and freaking win. No excuses. K-Twan is with us. K-Twan is in Houston, Texas. Hey, K-Twan, what is your net worth?

Right around 2.1. Good for you. Okay, and give me a little breakdown by category. How much retirement, how much house, and so on? Retirement, probably 650. Mutual funds and other investments outside of retirement, probably 600. About 60 in the 529 for my kids. Real estate, right above 700, and then another 70 or so

in angel investing. Cool. How old are you? I'm 40. Good for you. And how much of this did you inherit? Zero. Zero. And your best working year income and worst working year income? Best right around 300, Then worse was when I first started out of college, about 32K. Okay, cool. What do you do for a living? I'm a solutions architect. Okay. What kind of architect? Solutions. Solutions. Like as in digital? Yes, as in digital. Okay, digital architect. Okay. All right, cool. You got a four-year degree?

I do. In what, information systems or something? What? Yep, in information systems. Got it. Okay, and your GPA? I think it was like 2.5. Okay, all right.

Good for you. All right, cool. Can this still be done, the 20-year-old version of you, you know, poking around on the whole digital space, lots of opportunity there. Can they become worth 2.1 by the time they're 40 or is America dead? Absolutely. Absolutely. They can, um, probably even faster. Um, there's so many opportunities out there for sure. I agree with that. Uh, what would you tell them the secret is? Um, Just really having a plan, budgeting,

and understanding where you want to go and driving towards those goals. Yeah. I'm curious, was there a fast forward button at any point for you in this journey? I think the only fast forward thing was anytime I did get a bonus, I never spent it. I just used it as an opportunity to invest. How many times would you say you did that over your career? Got the bonus and then compounded it by investing it? I've probably done that over the last 10 to 12 years for sure. Wow. That adds up quick, doesn't it?

For sure. That's kind of like living on what you make and throwing the bonus to the gravy. Yep. There you go's i like that plan that alone will stack up cash obviously 2.1 million by the time you're 40 congratulations man so did you grow up around wealthy people we were just talking about the different people groups what would your what would your tribe be uh probably lower middle class okay okay what would you i'm curious sorry dave uh what what would you say contributed to the mentality that changed you to be able to do this you broke your family tree man yeah um i think what contributed to it is just understanding that um and thinking and learning about money in a new way um i guess it

was always just an interest of mine but just taking the time to learn about it to understand how it works and how it grows um really became an interest of mine so i dug deep into it and and started doing everything that i needed to do to make that possible yeah and it's not really a big mystery once you dig into it right very true yeah sadly it's very basic yeah hey man good job i'm proud of you hero excellent excellent job robert is in tulsa oklahoma robert your net worth 1.4 million good for you sir give me a little breakdown by category please so retirement 724 000 houses worth 350 000 have non-retirement investments So retirement, $724,000. House is worth $350,000. Have non-retirement investments of $172,000.

I have a health savings account. It's got $48,000, about $20,000 in cash. And Dave, I've got about $140,000 of things with wheels, tires, motors, and jet drives. Nice. He's a gadget guy i like him all right how old are you robert 59 good for you and how much of this did you inherit well in 2021 my mom passed away and our share was about 300 000 okay but i had just barely become a millionaire at that time so So you were already a millionaire before you got this? Yep. So don't let me put words in your mouth, but I think I hear you saying you did not become a millionaire because of inherited money. Correct. It enhanced

the program after you were already there. Yeah, absolutely. You're the man. You're the man. Can it still be done, Robert? Absolutely. Just got to follow the baby steps. What's your career? I'm a doctor. I'm a psychiatrist. Psychiatrist. All right. Obviously, that's your degree.

What was your GPA? Well, Dave, undergraduate. Not all doctors are 4.0. It was 2.0. Okay. Sorry, 2.8. 2.8. 2.8.

All right. 2.8. Yep. You're right there with me, brother. Right there with me. I love it. Congratulations, sir. Proud of sorry, 2.8, 2.8. 2.8, all right. 2.8, yep, yep. You're right there with me, brother. Right there with me. I love it. Congratulations, sir. Proud of you, hero.

Another millionaire in the books. This is a Baby Steps Millionaire's Theme Hour on The Ramsey Show. It's a Baby Steps Millionaire's Theme Hour. Ken Coleman, Ramsey personality, is my co-host. Spoiler alert, guys. The research on millionaires, the airtight research, the methodology was so pure and so good on this research that if you disagree with the conclusions of the research,

you're what's known as wrong. Okay? In other words, these are facts, data-based facts. They're not feelings from your Karl Marx induced college professor. Okay. These are actual facts. 79% of America's millionaires inherited precisely zero. 5% of America's millionaires inherited a very small amount, like $5,000 from grandmother, but not enough to make them

mathematically a millionaire. It was an insignificant small amount. But they did technically get an inheritance. Another 5% inherited money that was substantial, like that last caller, or caller before, no, the last caller, after they were already millionaires. So did not become millionaires because of inherited money, but enhanced their wealth after they were already millionaires. So let me help you with that. 79-0, five small, five after.

79 plus five plus five is 89%. That's nine out of 10 of the current approximately 15 million millionaires in North America became millionaires not because of inherited money. Do not let people tell that lie in your presence, because when they tell that lie, they are spreading hopelessness. They are stealing hope from people, because if you know that nine out of ten of America's millionaires started with nothing and became millionaires not because of inherited money that should give you hope that you too can do this then the only question is how did they do it what are the best practices well a lot of them followed the baby steps these days i've been teaching this stuff 30 years i mean 10 million people have been through Financial Peace University.

You'd think a few of them would get it and turn out to be millionaires. Well, a bunch of them got it and turned out to be millionaires. I also want to mention that 96% of net worth millionaires enjoy their work. They're not quiet quitters, Dave. And I had Tim Smith, who did a lot of research, pull some more data for me. Of the 96%, so that's only 4% didn't enjoy their work, the 96% actually had a higher net worth to the tune of 58% higher net worth than those in that 4% who didn't enjoy their work. Oh, he parsed the data out. Wow. Even more. What tells me that doing something you enjoy

is the key to working harder and longer in that sacrificial time more creatively you're getting promoted more you're putting your best output out which means you're getting rewarded for the output so we don't want to miss that side of it the baby steps huge chunk living on lesson you make the discipline piece but you have greater discipline when you actually enjoy showing up and you also get better results when you enjoy it and all of that we also found okay what are the top 10 careers fields that people picked out number one engineer at the break we met a baby steps millionaire's engineer he's a baby step millionaire met him at the break at the commercial break just a minute ago sitting here in the lobby engineer 45 years old okay um

that's it i mean number two accountant number three teacher yeah well i don't agree with that i don't care if you agree with it you're wrong the number three most occurring career field was teacher number four business executive whatever that means can mean anything and number five was attorney yeah doctors medical doctors didn't even make the top five what do all five of those people have in common it took us a while to figure this one out they all are process people they have to follow a series of principles if you're an engineer and you don't follow the principles the bridge falls down if you're an accountant you don't get to be creative there's accounting principles you

follow those creative accounting is called embezzlement you go to jail okay you don't get to be creative with your account teachers follow a system a lesson plan a series of testing to create the desired outcome business executives obviously following best practices attorneys you got one way you can conduct yourself in front of your honor the judge or he'll put your butt in jail for contempt you don't get to make up stuff in the courtroom there's a process that the law requires you abide to or you lose the case these are processed people and so when it came to money they found a process and they submitted themselves to that process they didn't try to go well i don't know if i agree with that i am 18 years old and i watched a t video. Well, don't be stupid, okay?

Don't be stupid. It'll cause you to be broke. Instead, you go, I'm going to figure out what the freaking process is and I'm going to follow it. And that's what causes people to be millionaires. And they do it over and over and over. Today, we've got a property restoration guy, a big entrepreneur guy, insurance claims, process, Air Force. Try flying a plane different than you're supposed to fly it's called crashing right um a digital guy i mean

information systems guy you know syntax when you start writing code you got one slash out of place the whole thing buggers up doesn't work it has to have it perfect there's you have to follow process right same thing all the way down the dadgum list, right? And today is the examples followed it, and we didn't set these calls up. We just put it out there. If you want to call in, if you won the lottery, we'll put you on here, but you're not normal as millionaires go. If you inherited $10 million and your uncle owns a hotel chain, that's great,

but you're not normal. We'll put you on here because we want to hear your story. All right, let's get one more in before we run out of time this hour. Timothy's in Phoenix. Timothy, what's your net worth? Hey, Dave and Ken. My net worth is $1.1 million. Good for you.

And give me a little breakdown by category, retirement, house, so on. Yep, so we have about $400K in house. We have about $600K in retirement investments, about 50K in stock options, another 60K in a 529, and then around 40K in savings. And then unfortunately, as I'm in school right now, about 29K in debt. How old are you? I am 38. Good and how much of this did you inherit? I wish I did but nope nothing at all. Nothing okay your best working year your worst working year income? Best work worst working year was probably about 25k I was getting out of school between my when I got married my wife and I think the best was about 270, but we averaged about, I'd say, about 160 throughout our marriage so far.

What's your career? I'm a nurse, and I'm in the Army Reserve. Thanks for your service. Obviously, your degree is in nursing. And what was your GPA? It was a whopping 3.0. Okay, cool. Cool.

Way to go, man. Congratulations. can this still be done to a 38 year old you're a 38 year old you're talking to an 18 year old 20 years younger than you that's thinking about being a nurse can they be a millionaire oh absolutely absolutely you know um for me what we did is it was it was simple first. My family never talked about money. And so what I did is I realized, hey, I want to learn about this. So I educated myself. That's something anybody can do. Your books help tremendously in that.

Then I worked with my wife. You know, we're a team. And then we created goals. And we prioritized the things that were important for our marriage and our life. And once you create a goal, you just back plan. And you realize that just by doing the same thing consistently that you planned out all the same. And you're a millionaire or you've accomplished some other goal in your life that's important. So it's 100% doable.

It just takes those elements. Absolutely. Way to go, Timothy. Proud of you, hero. So, Ken, nobody inherited money. Nobody became a millionaire because of inherited money. Nobody had a 4.0. One husband did, but wasn't on the phone.

The GPAs were all right around three, which is typical. We find that you don't have to be a genius to be a millionaire. You do have to have some brain matter. Like, we don't have to be a genius to be a millionaire you do have to have some brain matter like we don't get 1.5 gpas okay uh but the a lot of 3.0s 3.1s 2.97s like mine quick thought on this dave uh what we heard the theme this hour was they learned about money yeah they figured the process out and you were talking a lot about process people want to make this point to all my non-process brothers and sisters that are listening and watching. You don't have to be processed to be a millionaire, but you can follow our process. That's where we come in. The Baby Steps is the process. Become a Baby Steps millionaire. We're here to

help you. So don't freak out. Follow the plan. Hey, it's Ken. If you love the show and want a deeper dive on your money journey, we have a weekly newsletter that gives you trending and helpful articles and tips on following the Ramsey way. Go to RamseySolutions.com today to sign up for our newsletter. Again, that's RamseySolutions.com to sign up for our weekly newsletter.