The Ramsey Show - App - Don’t Believe the Lies – You CAN Be a Millionaire! (Hour 3)

Episode Date: July 19, 2023

Dave Ramsey & George Kamel interview millionaires to find out how they built their wealth.   Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Here's an EveryDollar deal just for our listeners: get a 14-day free trial PLUS $15 off your first year of premium. Click the link below and start budgeting today! www.everydollar.com/george Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the Pods Moving and Storage Studios, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. George Campbell Ramsey Personality is my co-host today. This hour is a Baby Steps Millionaires theme hour. For those of you that are new to us, that means we're going to talk only to millionaires this hour.

The phone number is 888-825-5225. If you're a millionaire, we want to get some of the details on your life and your story so that other people can hear how to do what you have done. See, there's a lot of people out there with opinions about wealth that don't have any. Wealth. They got lots of opinions. They got no money. And if broke people are giving you their opinion on money, that's kind of dumb,

if you're listening anyway, and so you don't want to do that. You want to talk to real people, and I don't really care about your broke brother-in-law who votes wrong. I don't need his opinion. I just, you know, it's on money. I mean, if you want to talk to him about something else, that's fine. I'm not mad at him, but I'm not going to do this. So here, let's start with

the basic definition of what a millionaire is george a millionaire is not someone that makes a million dollars a year thank you for clearing that up that's a misconception a lot of people have yeah and a millionaire is not someone that has a million dollars cash that's a cash millionaire so not a network this is not it's like the word recession there is a technical definition for it and you don't get to make it up well i think we're in a recession i don't care what you think a recession is two consecutive quarters of a shrinking gdp period it's an economic definition it's not a political term and you don't get to decide if we're in one or not all you can do is observe the actual numbers you don't get to decide if you're a millionaire you don't get to redefine millionaire to fit your little political agenda and your

equal your wealthy quality communism marxism crap so here here's what you So here's what a millionaire is. It is when someone has a net worth of $1 million or greater, period. That's it. There's not another definition. Well, he's a net worth millionaire. That's the only kind of millionaires there is. It's redundant. It's redundant. It's like he's a millionaire millionaire.

Okay, that's what you're saying. All right. it's like he's a millionaire millionaire okay that's what you're saying all right so a millionaire is someone whose assets minus their liabilities equals a million dollars or greater what you own minus what you owe equals a million dollars well you can't count real estate yes you can it's an asset stupid that's the one i get in the youtube comments dave when i tell people i walk them through how to do this they go you can't count your house you can't even count your retirement accounts because you can't live off of that right now i'm going dumb you can you can't count it if you want to do a risk analysis a liquidity analysis but to determine if you're a millionaire there's only one method assets minus liabilities equals a million dollars or greater so that's who we want to talk to and we want to find out how you did it we're going to start with

craig in milwaukee craig what's your net worth just shy of 1.7 million love it okay give me a little breakdown by category on that how much of retirement how much is house, and so on? Just about $700,000 in retirement and 529 accounts. About $550,000 in a mix of cash and other investments, ETFs, stocks, T-bills, saving bonds, even a little precious metals. And then about $450,000 in in real estate which is made up of our primary residence got it how old are you i'm 51 my wife is 45 cool and how much of this 1.7 million did you inherit zero zero okay and what was your in your working lifetime, what was your best year working income and your worst year working income? Oh, I would say the best year was just a touch over $200,000,

and the worst was maybe $70,000, $80,000. Okay. And what do you do for a living, or did you do for a living? I'm a lawyer, and I have my own practice. Okay. So obviously you have a law degree. All right. What was your GPA?

In law school, it was just about 3.0. Okay. Good for you. Cool. So if you're talking to the younger version of yourself 25 years ago in their 20s can a young lawyer still become a millionaire yes what would they do what would you tell them to do well i i think uh i would recommend take the time to know yourself. And if you're going to get married,

choose a spouse who shares your views on money and finance, among other things. Because in my experience, that became very, very critically important. And not to go off on a tangent, but we were introduced to, you know, your money management concepts very early in our marriage. And we really took to them and we paid off student loan debt. We saved for a house, but we took on a huge mortgage and ultimately became unhappy with our lifestyle, felt like we strayed from the money management principles that you teach and that we were following. And so we decided to make a radical change in Solar House and move to where we currently live. And now we're living the exact

life we want to live. And if my wife wasn't on the same page with me about that, that could be very challenging. So I would recommend that. And other than that, I think very standard things that you hear all the time. Live beneath your means. I would say be resourceful and be content with what you've got now and be patient. Because typically tomorrow is a better day. And in the long term, it's going to be much, much better. A lot of wisdom there, Craig.

I'm curious, what car are you driving right now as a net worth millionaire? Right now, I drive a 2008 Honda Pilot. Wow. What does she drive? She drives a 2019 Volkswagen Atlas. Good good man she's got the nicer car federal law that's awesome i love it well congratulations sir you're a hero i'm proud of you you went out there and did something that most lawyers don't do however i will tell you that in the largest study of millionaires ever done in North America, done by Ramsey Research Team a couple of years ago, we had the top five career fields, number five, that most often became millionaires.

Number five was lawyer. And the average age, I believe, was 51. Yeah. This guy, he's like a case study. And they drove Honda and Toyota as the top cars. And about a third of his net worth is his real estate. He's a poster child. It's just exactly a case study.

He's like a template of the averages of that study. We studied over 10,167 millionaires. So the conclusions we came to in that study are what's known as facts. So if you disagree with them, you're what's known as wrong. That's how that works, okay? We'll help you with this. It's a millionaire, a Baby Steps Millionaire's theme hour. We put all of this together in the book, The Baby Steps Millionaire,

and it became a number one bestseller. So be sure and check that out as well. George Campbell is with us. We'll be talking to real millionaires. Call us if you're one. The number is 888-825-5225. It's a Baby Steps Millionaires theme hour. George Camel, Ramsey personality, is my co-host today.

We started doing this theme hour on millionaires several years ago. It led us to do a study of millionaires. And the white paper of that study is in the back of the if you want the detail the nerdy research parts of it's in the back of the book the baby steps millionaires book you can find it there but we started doing this show because i kept running into millionaires and they weren't what everyone said they were because I didn't grow up with money. I grew up a regular guy just like George, a regular guy. And just because I became a millionaire, I thought, well, maybe some of the – because here's the things people say about millionaires.

They say stuff like, well, they all inherited their wealth. You can't be a millionaire if you don't have a rich uncle, right? They always say that millionaires are – the only way to get get money to be a crook so you must have stolen they did something wrong you can't get that rich without doing something wrong right or they the other perception is is that all millionaires all wealthy people you have to be famous you know you have to be like a country music star a rock star a professional athlete a hollywood actor uh and the other thing they think is that they're okay i can't be a millionaire because i'm not brilliant i'm not a 4.0 4.2 gpa guy investing guru i'm not i don't have this i don't have this special sauce i'm

just a regular guy regular gal and that's the four biggest mythologies that are out there and what we found with the study was and we first found it when we're just talking to millionaires here on the air is that all four of those are lies none of them are true very seldom do crooks become millionaires let me help you with this because when crooks rip rip somebody off you know what people do they tell everybody and nobody does business with a crook anymore i mean if you go to a you know i'll tell you who a lot of millionaires are they own auto repair stores a lot of millionaires auto repair stores and uh you think they're just somebody rent turns a wrench but i just tell you they got more money than you got. And so, but if you go in there, that guy's store, and he rips you off,

I'm repairing your car, you know, he puts in a, he claims to fix it, charges you $1,000, and you drive off, and it's still doing it, right? Still got a problem. You come back, he goes, well, I just, you know, it's the way it is, and, you know, whatever. It was an analysis fee. And what do you do? You tell everybody

that guy that guy's a crook you're going on yelp google reviews the neighborhood facebook page yeah you got exactly you go over that same auto repair guy and he says you go in there and he does three things he comes out and you go if he says i got it fixed there's no problem you go what do you what do i owe you nothing it didn't cost me anything just took a minute go ahead just nick just remember me later well you tell everybody you found an honest car repair guy so crooks don't become rich that's just a dadgum mythology by rednecks with poor mouthing you know that's the ones i grew up little man can't get ahead life is rough people like us you ever hear these people like eeyore is their spirit animal you hear them people yeah well that

that's the ones tell you crooks are all rich people all rich people are crooks well bullcrap almost no rich people are crooks most of them are some of the more honest people you ever run into that's how they got rich dummy they got a reputation for doing it right and bringing it you know golly this is silly all right let's go to sarah in san francisco sarah what's your net worth um about 2.6 million cool and how much of that did you steal i'm kidding i couldn't resist after that last little rant. Okay, so give me a little breakdown by category. My home is worth about $800,000, which is all paid off. I have a vacation property in Mexico that I owe about $50,000 on.

It's worth about $700,000. Good for you. I have about $1.2 million in 401k cash and other things. Very good. Well done. Where are you in Mexico with that vacation property? What city? Cabo. Cabo.

Cabo San Lucas. Good for you. Fun. Very cool. All right. How old are you? 63. Cool. And how. All right. How old are you? 63. Cool.

And how much of this did you inherit? I did actually inherit about $500,000, but I have not touched that. I don't want to take any money out because I don't want to pay taxes on it. But I haven't really used that for anything. Is that in the 2.6? Yes. Okay. And how much of that, did that come after you were already a millionaire or before you were a millionaire?

Kind of in, well. When you received it, did you already have a million dollar net worth or not? I had part of it, maybe a half a million. Okay. So this helped make you a millionaire. Okay. Good. Okay. So you did inherit part of it. maybe a half a million. Okay, so this helped make you a millionaire. Okay, good. Okay, so you did inherit part of it. That's good. All right, now, so your income range, your best year working and your worst year working.

My best year, probably around 230. My worst year in the last 20 years, probably around 20,000. Okay, cool. What did you do for a living what was your career um i am a physician assistant in the er got it okay and so obviously you got a pa degree and what was your what was your gpa um probably around 3.3 good for you okay cool all right you're talking i met a young pa on a trip I was on the other day. He was in his, well, I guess he's in his early 30s. But if you're talking to a young PA in their 20s or 30s, can they still do this?

Could they still become worth $2.6 million even if they didn't inherit half a million? Oh, definitely. Yes. Listen to Dave Ramsey. Invest in your company, 401k property, don't buy stupid things and invest your money. Wow. Rocket science. That's impressive. And you just did that over a long period of time. You said over the last, how many years do you think you've really been kind of on a good financial plan?

Actually, not that long. Probably 16 years. I was very, very sick. I had to change careers. I was a firefighter the first part of my life, and then I got injured, so I had to reinvent myself. So I went back to PA school, got very sick right after I graduated. And then I almost lost my house. So almost all of this has been in the last 16 years. Wow.

Good for you. This has not been easy. Yeah. And you're 63. And the future is bright. Yes. And the sun's shining in Cabo. Yes.

And I feel so free. I bet you do. It sounds like you can work because you want to and not because you free. I bet you do. It sounds like you can work because you want to and not because you have to. Oh, exactly. I love my job now because I don't have to work, and I don't have to work as much. That is rare. You can do anything you want. All right, do you read more books or watch more TV?

Are you a book person or a Netflix person? Oh, I don't watch TV. There's too much life. I was in bed Netflix person? Oh, I don't watch TV. There's too much life. I was in bed for two years, so I'm not watching TV. No, I'd rather go out and enjoy friends and family and life. There we go. Right there. Words from a millionaire, 63 years old, $2.6 million net worth. Very, very well done. done by the way the statistics on inheriting the money um as we discovered when we were the reason i was asking her the questions the way they were is it fits the research that we did um 79 of america's millionaires with the largest study

airtight research of america's millionaires ever done. 79% received an inheritance of zero. 5% received a very small inheritance like granny left him five grand. So mathematically, they were not millionaires because they got an inheritance. Another 5% like her received a substantial inheritance, but did so after they were already millionaires now that part was not like her this hers situation literally she did become get her first million because of an inheritance so she actually is one of the rare ones but five percent a little bit five percent after already millionaires and 79 zero those three figures added together is 89 79 plus five plus five that's nine out of ten of america's millionaires are not millionaires because of

inherited money what's that mean number one it means the communists out there telling you otherwise are lying number two it means you have a chance she started 16 years ago she's 63 now she did get an inheritance that helped her but she's basically done most of her wealth building in the last little bit this is a baby steps millionaire hour on the ramsey show Ramsey Show. It's a Baby Steps Millionaire's Theme Hour. George Camel, Ramsey personality, is my co-host. Don is our next millionaire in Canton, Ohio. Don, what's your net worth? My net worth is $2.24 million. Cool. Give me a little breakdown by category. Well, retirement accounts, we've got $1.9 million there. Most of that's in company stocks. I own about 98 different companies there. And then also some mutual funds.

And that's all spread out in Roth and traditional. I've got $66,000 in HSA and $45,000 in cash in the bank. Our home's worth somewhere around $170,000 and personal property around $30,000. Wow, good for you. So most of this is a retirement account then, yeah. Wow. Yeah. Good for you. How old are you? 64, soon to be 65. Cool. All right. And how much of this did you inherit? None.

Zero. And what was your best year working income and your worst year working income? My best year would have been an outlier. I made about $148,000 that year, a big turnaround at the refinery and then uh way back in uh 1980 i was making about 19 000 okay cool cool what was your career i'm an electrician i started out as a union electrician in the construction industry and and then 15 years after that i moved into the refining industry so you did an apprenticeship rather than a four-year degree i assume yes it's an apprenticeship right cool cool so high school graduate then right

right okay good for you good for you well done what was your gpa in high school do you remember uh i think it was girls uh it could have been better might be the best answer so far all right i'm writing that one down i like that all right it was probably in the three range somewhere it uh i had the capacity to do much better but uh had distractions along the way yeah i've heard about those you didn't apply yourself that's what we call it yeah all. So you're talking to a young guy who's heading into the trades, going to be a plumber, going to be an electrician. He's 23, 25 years old, and he's listening right now, and I promise you he's listening.

Can he still become a millionaire in America today based on your knowledge? He can, but he needs to invest, or he needs to budget, first of all, and do all those basics because you got to have some headroom left so you have something to invest and you know I messed around until I was 37 I didn't start this till I was 37 years old so I had to do a lot of catching up but so what you're telling him is is he could $5 million to $10 million if he starts at $25 million. Exactly. He'd have a whole lot more than what I've done.

Yeah. Wow. Well done, sir. You're a hero. Proud of you. Thank you. So any other advice you would give to the listener out there that thinks you can't be a millionaire today or wants to know how to do it? Well, you know, stop playing around with all the things that don't get you anywhere,

like the credit card points and things like that. They're just totally meaningless. The biggest thing in our family would be tithing and honoring God with tithes and offerings, and that's very big for us, and we think that the Bible does tell us that a rich man can get into the kingdom of God as long as he honors God, puts him first, turns it all over to him, and operates in his principles. Another thing is what helped me over the years, I think, the most was just staying invested. Time in the market and being invested in equities and just being consistent, that's really where I got where I was going. I'm not a genius, but I think I just did the things correctly there. I don't know if you're a genius or not,

but I think you're very wise, and I'm very impressed. Very, very well done. Danielle is our next millionaire in Hartford, Connecticut. Danielle, what's your net worth? My net worth is $1.375 million. Got it. And I'm going to call it $1.4. Okay, and give me a little breakdown by category, please. Sure.

It's about $187,000 in cash, about $256,000 in a brokerage account, about $789,000 in retirement, and I own a condo that's worth about $250,000. Good for you. Well done. How old are you? 46. 46. You're single? Yes. Cool. And how much of this did you inherit? None of it.

Okay. And what was your best year working income so far and your worst year working income so far? Best year working is probably going to be this year. My base salary is about $175,000 with bonus. It brings me up to a little over $2,000. Worst year was probably when I started out of college. So I think I started off around $32,000 a year. Cool. What's your career? I am a procurement systems manager, so I manage a team of systems analysts that run the applications that support our procurement division. Got it.

So your degree, information systems or what? Actually, no, my degree's in healthcare. I went to school for health administration, but I somehow ended up in the insurance capital of the world, so that's where I reside right now. Yeah, definitely. Okay. So what was your GPA in school? 3.48. 3.48.

All right, cool. All right. And, wow, good for you. So same question. The younger version of you is listening out there. Can they still do this? And if they can, what should they do? Without a doubt, they can do it.

I think they just need to be disciplined. I would say start investing right away. I know out of college when I had my first really big job, I invested 10% annually into my 401k. And just budget. Growing up, my parents always taught us to distinguish between our wants versus our needs, right? And, you know, I don't replace things frequently. I run them until they break and, you know, set aside discretionary income to do the things you enjoy, but also set aside things for, you know, a rainy day and just be very disciplined and be cautious.

That'll preach. I'm curious, Danielle, what car do you drive at 46 with a net worth of $1.4 million? A Subaru Crosstrek. There we go. What year is it? It's a 2016. All right. Fantastic.

So like every other millionaire we talk to, everyone would pass you in traffic and have no idea. Trust me, I would love to have a really nice vehicle, but it's just not worth it. It's a waste of money, and it's just, you know, I'd rather invest it into real estate. I do have $105,000 left on my mortgage, but the goal is to eventually buy a house, and that's really where I'm saving my money to go. Yeah. You're doing a great job. You're a hero.

So proud of you. Thank you for sharing your story. Most people are broke making 50 grand a year buying $60,000 cars. And Danielle's like, cars aren't worth it. I got $300,000 in cash and it's not worth buying a new car. So take it from actual millionaires. They don't do that kind of stuff. Now, the other thing you need to distinguish, folks, is the difference in a billionaire and a millionaire.

I talk about this in the Baby Steps Millionaires book. I did a whole chapter on it. Because sometimes people think of a millionaire as being a billionaire. Millionaires do not have private jets. Period. Okay? They do not drive Lamborghinis. They don't have the money to.

Okay? It's only a million dollars. They do not drive Lamborghinis. They don't have the money to. Okay. It's only a million dollars. You don't do private jets for a million bucks. Okay. There's not one of those. And if you do, it's a freaking antique. Okay. I wouldn't want to get in that thing.

Yeah, I'm not riding in that thing. So, you know, Lamborghinis and $250,000 cars, that kind of stuff. That's not, you know, seven cars, three vacation homes around the world, a mountain home, a beach home, a whatever, a lake home. Millionaires, billionaires can do that, but a billion is a thousand million. You're a thousand millionaire. That's a lot different than being a millionaire. And so if you hear

somebody's got seven cars five six houses they've got a private jet they're probably approaching or you know should be at least deca millionaire that'll be well beyond that'll be on beyond deca but anyway but yeah they're north of probably 50 million at least and heading towards a thousand million and you know a billion billionaires you're not going to get there in your 401k but there's not as many billion there's a lot there's about a 12 million millionaires in america there's not that many billionaires billionaires are a lot less that's for sure so i and it is a different formula and a different setup so when you think of millionaires well that you know nobody needs that money. This is not a moral construct.

It's a math thing. Assets minus liabilities equals a million. It's the only definition. Well, it's not enough money. We can discuss that, but that's not how you decide if you're a millionaire or not. We're talking to real millionaires and asking them how they got there. It's a Baby Steps Millionaire's Theme Hour. Our Scripture of the Day,

Proverbs 13, 11. Wealth obtained from nothing dwindles, but one who gathers by labor increases it. Will Rogers said, the quickest way to double your money is fold it in half and put it back in your pocket it's a baby steps millionaires theme hour we're talking to real millionaires matthew is one

in sarasota florida matthew what's your net worth right around 1.8 million good for you give me a little breakdown by category yep so we got about 600 grand in retirement, 550 in a separate brokerage account, 100,000 in cash, about 50,000 in vehicles, and the house is probably about five and a quarter. Good for you. Well done. Cool. How old are you? 38. Good. And how much of this did you inherit? None of it. Zero. And your best working year income and your worst working year income?

First five years of our marriage, probably around $70,000, $75,000, and then got into real estate, 100% commission, and our best year was a little over $500,000. Whoa, you're killing it. Good for you. Well done. So you're a real estate guy. Have you got a four-year degree?

I do. Yeah, I got a finance degree. In finance. That sets you up. All right, good, good. And your GPA and your finance degree was what? Probably about 3.3. Okay, cool.

So what do you attribute the fact that you're a millionaire to by the age of 38? What do you say? People say, how'd you do that? What's the key? What are you telling them? $500,000 income doesn't hurt. Yeah, so, I mean, obviously that helps that helps but i would say listening to you i probably started in my early 20s and uh that set us up in a way that i could take that leap in a real estate

100 commission not knowing what we're going to make and uh kind of weather that storm in the beginning good good for you okay cool so if a younger version of you uh is listening what do you tell them it can it be done still what's your philosophy on this yep definitely could be done just um be content with what you have and and uh you know save it like you do and follow the plan and it gets there yeah you sound like you're just it's like a matter of fact yeah yeah do you ever have any emotions about this when you hear these people saying that america's too broken to win and that anarchy is necessary and wealth inequality is crazy and it's unfair out there

do you ever hear all that stuff yep you know i've been listening to the show so i hear it all the time and see it on the news but um just kind of keep doing what we've been doing for a while, and it's been working out for us. Just ignore the noise. Yep. Create your own reality. Well, that's impressive, because a lot of people that are younger, they're going, well, I can't wait until 60 to have retirement. So therefore, what's the point in investing? They have a very doom and gloom, but you're 38 and you did this stuff.

Well done, Matthew. Proud of you, man. Kerry is in Kansas City. Cary, what's your net worth? $1.5 million. Good for you. And give me a little breakdown by category. $530,000 in the house, $450,000 in 401Ks, IRAs, and ESOP,

$475,000 in taxable brokerage account, and then $45 in cash. Cool. How old are you? 34. Oh, our youngest of the day. Excellent. Good for you. How much of this did you inherit?

We did not inherit any of it. Zero. And what's your worst-year income working and best-year income since you've been working? About $45,000 when we got out of school, and since we've been married and combined, $350,000. Cool. What do you do for a living? I'm a project director for McCarthy Building Companies, and my wife is a neonatal nurse practitioner. Okay. So a nurse, and you said you're a product director? Project director.

Project. Oh, I got you. Okay, I got you. Okay. You said out of school. What was your degree in? I was construction management, and Liz went to nursing school. And she was nursing, of course. Yeah, okay.

And your GPA when you were in school? I was at 3.5, and Liz was at a 4.0 through her graduate. Of course she was. All right, so you're a millionaire, 1.5 million at 34 years old. How did you do that? I'd say consistency and really setting goals. I mean, I can't say I did the same thing when I was younger in my teens, but that was kind of the breaking point for me of just not wanting to live paycheck to paycheck. So again, setting goals and being consistent, saying no to some of the things that don't carry a lot of value in our life.

And as you get married, just being on the same team, same page, goes a long way. So the force multiplier there. Yeah. Well, you've done this in a fairly short period of time, so obviously the answer to the question, can this still be done, you would say yes, I assume. Yeah, absolutely. Yeah. Absolutely. Yeah.

So do you guys watch more TV or read more books? Well, I listen to the podcast quite a bit and read more articles than chapter books. But Liz, she reads more of the chapter books. Of course, we have our favorite shows here and there. Well, I'm really impressed. Did you have a strategy going into this when you were 24 where you're like, hey, we want to get to a million by this age, and here's how we're going to do it, or was it just these practices that landed you there?

So I really didn't start listening to the show until about four or five years ago um but kind of instilled from my my dad as far as just you know saving money and just be intentional with it but when i was able to to listen to the show and it really got me on track with a plan um to get out of debt and then we kind of carried that through to be able to pay off the house on it, too, and just kind of kept that focus, and it just feels really good. Yeah. What do you drive? 2013 Lincoln MKX.

Okay. Cool. Nice. What about your nurse wife? She's in an Acura MDX.x yeah but certified pre-owned perfect good very good well deserved what an amazing couple you guys are heroes well done all right george just to make sure the mythology is destroyed uh the gpas are 3.0 3.3 3.0 3.48 3.3 4.0 and a 3.5, 3.0, 3.48, 3.3, 4.0, and a 3.5. So there's no geniuses, but there's also no dummies.

So I don't ever get 1.7 and I play beer pong. You know, I don't get that. I generally get around a 3.0, and that's what the research shows too. Inherited 1, 2, 3, 4, inherited 5, five inherited nothing one inherited a half million that caused her to be a millionaire so one out of five today uh and the statistics are uh one out of ten nationally kept the calls going we probably have more zeros yeah and the net worth on the people calling in they were not 50 million uh but these are actual millionaires not your broke brother-in-law with an opinion 1.7 million dollar net worth 2.6 2.24 1.4 1.8 1.5 almost all of them it's a major mix between their

retirement and their home uh very seldom was there anything else weird in there we didn't hear any crypto we didn't hear any uh lotto uh we didn't hear anything like that there's nothing going on here real estate cash and investments some of them did have some company stocks but that was it is that simple and i didn't talk to any famous entertainers or athletes or um you know uh so they didn't inherit it they're not crooks they're not famous they don't have super high GPAs. They're just people that worked a system, just worked a plan, and they did it over. And the average, by the way, is about 17 years.

And these people in here were talking, that guy there said he got serious four years ago. Another one was 16 years ago since she got hurt on the fire department. Remember that and all that. And so what these are are people an electrician a pa a physician's assistant an attorney a procurement a guy real estate nurse project manager for construction company i didn't hear brain surgeon in there or um nuclear engineer was not like an entrepreneur that owns their own business making a bajillion dollars i didn't hear anybody i took a company public now they all got their income up they all

raise some dual income they all are learners but they and they all 100 believe not only it can it be done but it should be done so proud of you guys amazing baby steps millionaires theme hour if you want to know more about that pick up the the book, The Baby Steps Millionaires. It's the latest number one I did. And the only reason I did it was because a bunch of you said it couldn't be done, so we proved to you that it can be done, and you're wrong. Don't tempt Dave with a good time and a challenge. That's it.

That puts this hour of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's George Camel. If you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps, go to RamseySolutions.com and click on the Get Started button. We'll help you figure out the best next step for you based on your specific situation. That's ramsaysolutions.com

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