The Ramsey Show - App - It's an Everyday Millionaire Theme Hour! (Hour 3)

Episode Date: April 7, 2021

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage may mean you're an everyday millionaire. It's an Everyday Millionaire's Theme Hour. We want you to call in if you're a real millionaire. We're going to talk to you this hour, and for the rest of you, we're going to teach you what real millionaires do, not what your broke brother-in-law thinks,

and not what some idiot hack political person with an axe to grind who wants us to move towards socialism thinks. We're going to teach you where real millionaires come from. Spoiler alert. You can do it. You can do it. When you live like no one else, later you can live as a there and people who have entered the conversation in the name of wealth equality or inequality or whatever the discussion needs to be with that, we have to address a couple of basic definitions.

Millionaire is an accounting term. You don't get to make up your own definition. There is a singular one definition that is the truth. A millionaire is not someone that makes a million dollars a year. A millionaire is not someone that has a million dollars cash, although that person could also be a millionaire. Millionaire refers to billionaire, also refers to net worth. Your net worth is what you own minus what you owe. Now, various people in different accounting functions include some assets and don't include some assets.

I mean, you can put your clothing in there if you want, but your clothing's not really worth anything, so that's a bunch of crap. Okay? But what do you actually own that you can turn into money, and what do you owe? What you own minus what you owe, your assets minus your liabilities equals your net worth. When you do that, in that bottom right-hand corner, that number is a million dollars or greater.

You are a millionaire. It's not a feeling. I don't feel like a millionaire. It doesn't matter. A million dollars isn't enough anymore. It doesn't matter. We're not discussing feelings, and we're not discussing what's enough. We're telling you how you become a millionaire.

It's when you have a $1 million or greater net worth. Does it solve all your problems? Well, crap no. It actually brings you new ones. Okay? But one problem you don't have is you can afford the Tylenol for the headache. Okay? One problem you don't have is you don't have to worry about putting tires on your car anymore.

One problem you don't have is you're not going to retire and count on social insecurity to take care of your butt, which is an absolute nightmare. You actually have some money. That's what a millionaire is. So we're going to talk to real millionaires, ask them what they did, how it's made up, and how they got there, because there's a lot of mythology around millionaires. The phone number here is 888-825-5225.

I don't care how you became a millionaire. I want to talk to you because we want to tell real people what real millionaires do, how they did it, so that real people can say, I want to do it that way. If all of you won the lottery, then we'll all line up for the lottery, which, by the way, that isn't how it worked, okay? But, you know, whatever it is, we want to copy you, millionaires, so we can be one of you. That's the purpose of this hour, the Everyday Millionaire Theme Hour. Clint is our first millionaire up in Chattanooga, Tennessee. Hi, Clint. How are you?

I'm doing great, Dave. How are you? Better than I deserve. What's your net worth? $1.3 million. Good for you. Break that down for me by category. How much in your retirement, how much in your house, and so forth? We've got about $620,000 in retirement savings. We've got between our home and a piece of land we own, that's about $380,000. And we've got $300,000 in cash and other savings good for you well done how old are you 37 years old wow young millionaire so how much of this did you inherit sir

uh none zero and what was your range of income your best working year and your worst working year. Best would have been last year. We made about $225,000. And worst would have been when we first got married. We started at about $84,000. What do you guys do for a living? What do you do? I'm a vice president of a construction company in the estimating side.

And my wife, she's a quality manager at a major carpet manufacturer. Gotcha. And you have a four-year degree? We do. We both have bachelor's degrees. Okay. What's your degree in? Construction management.

Of course. And Brittany's is in industrial engineering. And you're both using it. Good. What's your GPA? What was your GPA in college? We were mid-threes. Nothing real good, but nothing real bad either using it. Good. What's your GPA? What was your GPA in college? We were mid-threes. Nothing real good, but nothing real bad either. Gotcha.

Okay. How much of this $1.3 million in net worth at 37 years old do you think you have because you borrowed money to create wealth? Well, I learned about you my senior year of college, and I've seen debt as the archen of wealth since then so zero zero so you haven't leveraged your way into this so to speak okay no sir all right you did this really quick i'm very proud of you very impressive so there's a 22 year old guy who's in construction management listening to you right now how'd you do this in 15 years? What do you tell him?

Well, my mom was going through Financial Peace University and handed me the CDs from the class and said, you need to listen to this guy. And it clicked as soon as I listened to it. And I would say probably the number one thing would be choose your spouse wisely. That's a deal breaker right there, I'm just saying. Yeah, yeah. If you've got somebody that's willing to lock arms with you and claw, scrape, sacrifice to meet any goal,

there's really nothing you can't do. And if you can eliminate the number one cause of divorce in your marriage early on, then the other things are minuscule compared to that so yeah that's so impressive that's very very insightful um okay so sometimes people think that if you did this this quick um that that you have had no life during the last 15 years do y'all go on vacations and have you enjoyed your life during the last 15 years no absolutely there's there's portions of the baby steps where you know you're you're Do you all go on vacations, and have you enjoyed your life during the last 15 years? No, absolutely. There's portions of the baby steps where, you know, you're sacrificing the fun of life at times,

but we do plenty of things, and right now we do pretty much anything we want to do. Yeah, I guess so. Man, congratulations. Yeah, you're making a couple hundred thousand dollars a year, not a payment in the world, and a million and three net worth at 37. So that means that my guesstimate is you're probably going to be worth $10 to $20 million at 65. That would be the goal. Yeah, that's kind of mind-blowing.

Starting from nothing. So it absolutely can be done. That's the moral of the story, folks. So there he is, a construction management guy. So it absolutely can be done. That's the moral of the story, folks. So there he is, a construction management guy. He's not a star in the NBA. He doesn't have his own state farm commercial. You don't know his name.

And at 37 years old, he's worth $1.3 million. I'm telling you, folks, you can do this. And million. I'm telling you folks, you can do this, and I'm going to continue to show you you can do it, and I'm going to continue to punch people in the mouth that say you can't do it. This is The Ramsey Show. If current times have shown us anything, it's that the least expected events can and will happen, and we have to deal with it. That's why everyone who has a family counting on them needs term life insurance. For over 20 years, the only company I've recommended is Zander Insurance. Not only because they search all of the top term life plans to find you the best rates,

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This is The Ramsey Show. We're talking to real millionaires. Mythology is out there about where wealth comes from in America. By the way, you will hear on this show, and you will hear from the largest study of millionaires ever done in North America, airtight research, that the vast majority of millionaires did not inherit their wealth. As a matter of fact, 79% of the millionaires inherited zero. Another 5% inherited a small amount like $5,000, not enough to make any difference at all towards becoming a millionaire.

And another 5% inherited money after they were already millionaires. So let me help you with that. 79 plus 10 is 89. That's 9 out of 10 millionaires are not millionaires because of inherited money. That's a statistical fact, not a fruit loop writing a blog in his mother's basement. What's that matter? It matters because you can do it, is what this says. And oh, by the way, in the top five professions, teacher was number three in the largest study of millionaires ever done webster's with us

in the lobby on the debt-free stage to do is to tell us about being an everyday millionaire where do you live here in nashville tolahoma tolahoma just down the road just down the road yeah i love it i've got a lake house right down by yes you do yeah cool stuff so what's your net worth webster 1.4 million. Good for you. And give me a little breakdown on that. Retirement, real estate, so forth. $250,000 is the house. $1 million in retirement.

And then $200,000 in cash and a taxable investment account. Good for you. Well done. How old are you? 64. Great. So then you're supposed to say, Webster, you don't look like you're 64 Webster you you look like you're you look like you're on the 32nd anniversary of your 32nd birthday and so um what was your what's

your range of income in your working life your best year working Your best year working, your worst year working. Well, worst year was when I first started in IT in 1977, making a whopping $400 a month. Okay. All right. $4,800 a year. Yeah. Yeah. All right. Up to a high of?

$180. $180. Good for you. Way to go. Very cool. So how much of the $1.4 million did you inherit? $200,000. $200,000.

Okay. Were you already a millionaire when you got that? No. So we got out of debt September 2005, and then my in-laws were at their final stages of life, so we got some gifts from them. And then in 2008, my father-in-law passed. We inherited the house that was paid for. When we moved to Tullahoma in August of 2008, we sold that paid-for house. So we got $100,000-something for the house, then plus other gifts. So from my wife's side of the family, we inherited $200,000.

Yeah, $160,000. Gotcha. And then when my parents passed, we got about another additional $40,000. But by that time, we were millionaires. Okay, but you almost were before that then. Yeah. Yeah, okay. All right, cool.

So I think it boosted you, but I don't think we say you are a millionaire because of inherited money. No. No, but it definitely gave you a leg up. It started the first money into the first IRA came from the gifts from the in-laws. Cool. And you said your career was IT? IT. Okay.

Very good. Very good. And what was your GPA in college? I have no degree. No degree. Zero degree. So high school your GPA in college? I have no degree. No degree. Zero degree. So high school education? Yes.

Okay. Good for you. And you wandered into IT in the 70s and have been self-taught since. Yes. And or courses or whatever, right? Yeah. Certification. A lot of certification.

A couple hundred certifications. Yeah. I bet. I bet. Mainly because I listen to you. I've been listening to you since November 1999. Wow. And so over the years, listened to you, listened to others, especially when Entrez Leadership started.

Invest in yourself. Yeah. Invest in your skills. Invest in your knowledge. So when we started our – so we just had our 20-year dave ramsey anniversary on march 25th wow so when we started i was making 36 000 a year okay and then over the four and a half years that we paid off 197 000 dollars uh our average income was 48 000 you know there's an interesting insight there and man i really appreciate the history together.

And I'm proud of that. I'm proud of you guys with what you've done. But here's the interesting insight. This idea that, okay, you ever just run a calculation and say, if you invest this much a month, you'll be a millionaire. You know, if you just invest. If you invest $100 a month from age 25 to age 65 at 12%, it's $1,176,000. Okay, so $100 a month. You know, so that will make you think about where you spend $ bucks right so you just run that but here's the thing it's never

that simple yeah because what's happened is is the only way your money grew was you continued to grow yes as a person yes it was a holistic thing going on here your spiritual walk your relationship uh your your marriage all of those things have to continue to grow and blossom as well or the little math formula quits working doesn't it yeah i mean you've grown you faster than this money grew even yes is what it amounts to that's beautiful i love that i have never seen that before that's a very interesting insight so what advice do you have to a 25 year old techie that's out there can they become a millionaire yes they can um my advice to my 25 year old self would have been to have listened to a very wise woman that i knew at the time mrs camp Campbell. She was Dave before Dave was Dave.

And her advice was always pay cash, never have debt, always save, and always invest for your future. And always give. Yes. Yeah. And I wish my pig-headed, stubborn, obnoxious, arrogant, 20-something self would have listened to her. Yeah.

Yeah, this would be $4 million. But you did okay, Webster. Yeah. You still got $1.4 million. I'm so proud of you. Congratulations, sir. You're living the American dream. Thank you for taking time.

Very, very nice. Brian is with us. Brian's in Raleigh, North Carolina. Brian, what's your net worth? 1.1 million days. Good for you. Give me a little breakdown by category on that. How much retirement, how much real estate, so forth? Sure. I'm pretty real estate heavy. I got about 8 to 8.50 in real estate.

And then the remainder of that would be in retirement, 401k. Okay, so like 300 in that000 in that then, all right? Yeah, about that, yeah. Good for you. How old are you? 27. Wow! Look at you, dude.

Well done. So all this real estate's paid for? Yes, sir. Wow! All right, so tell me about this. What was your best year? I mean, in the four years you've been working, what's the best five years, seven years you've been working? What's your best year and worst year on income? Best, just a little over 200. When I started out, maybe 60.

Okay. What do you do? I got married in there, too, so that adds a lot to it. Sure, sure. What do you do? I got married in there, too, so that adds a lot to it. Sure, sure. What do you do for a living? I do IT work. IT, good for you. Okay, there we go. This is the theme right here. How much of this money did you inherit? None of it, Dave.

I mean, I got a car when I turned 16 at the average price, and the rest I've kind of worked on. I've done it on my own. Okay. So did you get a four-year degree, or are you working certs? No, I did get a four-year degree from the university, yep. In IT? Yeah, computer science.

Oh, computer science, yeah, okay. And what was your GPA? About 3.9. Good for you. Okay. All right, so tell me the story, because you did a large amount in a short period of time. It looks like every dollar you made went into paid-for real estate. Yeah, I've always liked real estate.

I was really fortunate. I worked all through, even middle school, I worked all the summers. I worked high school. I worked all through, even middle school, I worked all the summers at school. I worked after school. I worked full-time. How old were you when you bought your first piece of paid-for real estate? I paid 50% down on my first house when I was 21. Wow.

Way to go, Brian. Man, what a great story. Hey, thank you for sharing that. It's an Everyday Millionaire Theme Hour here on The Ramsey Show. If you do not believe that you can become a millionaire, that you can build wealth in America today, there is a 1,000% chance that you will not build wealth. Because you will not go do the things that will cause you to build wealth because you don't think they're going to work. You think the game is rigged, that you don't have a chance to win.

And you do have a chance to win. So it is my job to help you with your belief. And the way I do that is I use facts, not mythology, not political jargon, not made-up things, but detailed, in-depth research and talking to real people who have become wealthy during their lifetime. One definition of wealth is your net worth. It is the most used definition of wealth to be a millionaire, what you own minus what you owe.

So if you have at least a million-dollar net worth and you're in that situation, call me. I want to tell people what everyday millionaires really look like, not what the media says, not what the left-wing nuts say, because, oh, there are systemic problems with our economy and the little men can't get ahead. You can't get ahead if you're a woman. You can't get ahead if you're a minority. You can't get ahead if you're a bald boomer, which would be me. You can't get ahead.

I'm so stupid, guys. I had to do it twice. I was a millionaire by the time I was 28, and I lost everything because I was stupid. I borrowed up to my eyeballs. I got rich quick. I built a house of cards, and it caved in, and I had to go do it again. The second time I did it, I did it using the principles I've taught you for the last 30 years since going broke. So I've done it twice.

You can become a millionaire. You can build wealth in America. But see, a farmer that believes that if he plants seeds that no crop will grow would never plant seeds. That would be weird. It requires a level of faith, a level of belief that if I plant something, I'm going to grow something. If I save and sacrifice and stay out of debt and actually

be a grown-up adults devise a plan and follow what children do what feels good then i can become a millionaire if you do not believe that because the systemic problems in the economy the deck is stacked and people say stuff like i mean i grew I heard people saying, the little man can't get ahead. Little man can't get ahead. You just work for the man. Like Eeyore is your freaking spirit animal. You're never going to get ahead. Life's rough.

Life's a beach, and then you die. You know, oh my God, you defeatist, fatalistic idiot. But I tell you what, man, you don't have to be that way. You can choose to plant corn, and voila, corn will grow. If you save money, you will have some. If you stay out of debt and live on less than you make, you will eventually build wealth. Even if you screw it up, you'll eventually get there. Kevin is our next millionaire. He's in Mobile, Alabama. Kevin, what is your net worth, sir?

We just crossed the threshold, $1,042,000. Love it. Good for you. Give me a little breakdown on that by category. How much real estate, how much retirement, and so forth? All right. We have right at, this is probably a low ball number, $300,000 is our home and it's paid for.

$680,000 in our investments, 401k, IRA, Roth, IRA, and so forth. And then $62,000 in our emergency fund, money market, cash, and other savings. How old are you? 60. I just turned 63. Good for you. And how much of this did you inherit? Zero.

Okay. And what has been your working income, your best year range, and your worst year? Last year was mostly my income. My wife retired in January of last year. My income last year was right at 80, probably 86,000. What did she make when she was working? She probably making 60 plus. Okay, so you had $150,000 household income as a high point.

Yeah, yes, sir. What was your low point household income? Probably, you know, I'm guessing, you know, 40. Yeah, okay. And what was your career? Well, I'm still working. I work in production, inventory, patrol, logistics, warehouse management, basically logistics and warehouse management.

Gotcha. And do you have a four-year degree? No, sir, I do not.-year okay in what uh industrial management yeah and then you used it good okay and what was your gpa in that two-year uh well i was up there i was i did it real late in life i graduated when i was 50 so after all my squandered chances i probably was right at 3.9, 4.0. Yeah, good for you, because you actually understood what you're supposed to do. Yes, sir. Good for you.

Good for you. So what do you tell a young man with a high school education who's working in logistics who can go get his two-year associates later, and he's running his career, can he still be a millionaire? Yes, sir. You know, my story's kind of like yours. I messed up. At about 39 years old, I lost everything. Long story, I won't go there.

But so I had the second half of my life, I've done a lot better. Bear Bryant is quoted as saying there's a lot of blood, sweat, and guts between dreams and success another quote he says is don't give up at halftime concentrate on winning the second half and that's what i've done second half of my life we buckle down and concentrate it and here we are i've learned that heroes are not somebody you see on the movie screen wearing capes heroes sometimes wear hard hats and steel-toed boots i've got a hard hat sitting next to me i got my steel-toed boots on and here we are yeah oh there's a whole bunch of

heroes that dress like that i can tell you yes they're not only heroes in the financial world they're heroes in the spiritual world and in the leadership world and everything else real men and women that are getting crap done out there and not sitting on some cable news network whining yeah yes sir so good for you man good for you i'm proud of you well done well done thank you sir i appreciate you calling and sharing your story and congratulations on that breaking that plane baby you did it touchdown yeah jessica is with us. Jessica is in Sacramento. Hi, Jessica, what's your net worth? Hi, Dave. Our net worth is $1.2 million. Good for you. And give me a little breakdown by category. How much real estate and retirement and so forth?

So real estate, you know, we are in California. Our house is paid off, and it's worth just over $600,000. Good. And then we have about $600,000 in Roth IRA, mutual funds, 401ks, etc. Gotcha. And then about $50,000 cash. Good for you. Well done. How old are you? I am 39, and my husband is 41.

Good for you. Young millionaires. Good. How much of this 1.2 did you inherit? Well, we were fortunate. We had grandparents and great-grandparents who left us a little bit of money. So about $70,000 of that was from them. $50,000 when I was 18.

So there wasn't much left after very long. Okay. So are you a millionaire because of this inheritance or it gave you a boost? It gave after very long. Okay. So are you a millionaire because of this inheritance, or it gave you a boost? It gave us a boost. Okay. But you obviously didn't inherit a million dollars. Okay. And your income range, what was your best year household income

and your worst year household income since you've been working? Our worst year was when we both got off of active duty and it was about 15 000 and our best year was this last year about 243 000 cool what do you do for a living i am a registered nurse and an air force reservist okay cool and obviously you have a nursing degree. What was your GPA? From that degree was 4.0. 4.0. You got it. Get after it.

I love it. Okay, so a young nurse is out there. You're a young nurse, but even younger. Just coming out of school, passing her boards. Can she still become a millionaire? Absolutely. What do you tell her to do quick? Choose your life partner wisely and always move at the speed of cash, avoiding debt like the plague.

Love it. Move at the speed of cash and avoid debt like the plague. You're listening to real millionaires who have built real wealth. This is not theory. These are real people that are doing it. You can too. This is The Ramsey Show. our scripture of the day proverbs 13 11 dishonest money dwindles away but whoever gathers money little by little makes it grow. Oh, Stephen King said what separates the talented individual from the successful one is a lot of hard work. Well, that's true. When people are hurting, we want to make it as easy as possible for them to get the guidance and the resources they need

to get better. And that's why we do this every day. We help people. Over the past year, my team has been really working hard building a brand new website that makes it so much easier for you to find all the different things you need, the content, the tools, the products, the services you need to win in any aspect of your life, not just money, but everything. And guess what? It launches this week. It's called RamseySolutions.com.

No kidding. So instead of DaveRamsey.com we are now ramsey solutions.com it's slick it's your one-stop shop for everything ramsey you'll find all our ramsey personalities there including rachel ken anthony christy dr john and of course me all in one spot and all the things having to do with us with no wild goose chase so just go to ramsey solutions.com check it out surf around a little bit see what's happening at the new site it's beautiful and it's easy to find stuff uh the other one had been built like a country house we just kept adding rooms over the years and

architecture was just a wee bit unstable to say the least so we're so excited about how strong and powerful and easy this new one is just for you guys. So well done. This is a Millionaire Theme Hour. As we talk to real millionaires, people with a million-dollar net worth or greater, to get from them how they've lived, how they did that, to convince you that you, too, can do this. Ryan is in Indianapolis. Ryan, what is your net worth? 1.1.

1.1 million. Give me a little breakdown on that mix between everything. Ryan, what is your net worth? $1.1 million. $1.1 million. Give me a little breakdown on that, mix between everything. $200 farmland, $350 retirement, $450 equity in the house, $100,000 in investments, and the rest is miscellaneous cars, toys. Good for you. How old are you? 35, and my wife's 41. Wow. Young millionaires today. Lots of them.

How much of this did you inherit? Zero. Okay. And what was your best household income working year and your worst household income working year? Zero, and we're about 200 now. Cool. What do you all do for a living? I expedite freight. My wife works. She's an orthopedic surgical manager.

Okay. All right. Cool. And you have a four-year degree? No. No degree. My wife has a bachelor's. So you've got a high school and she's got a bachelor's.

Correct. Okay. Cool. Cool. So how do you become a millionaire at 35? What's the secret? There is no secret. You just got to work hard and save. I think that as long as you're having fun, working hard, sacrificing,

and pretending like it's 1800s, You don't ever need to borrow money and just live by your means. Before we had kids, there were stints where I'd work 16 to 20-hour days and we were living in a rented trailer. And we did that to build a solid foundation to save, to build our house. Okay. And you've got a paid-for farm and a house with a bunch of equity in it, a bunch of money in retirement, all at 35 years old. Yes, sir.

Yeah. Way to go, man. That house, we just saw a picture of it pop up on YouTube. It's beautiful. It's a good-looking house, man. Well done. I love it. Congratulations.

I'm proud of you guys. Okay, so today all of the net worths were slightly over a million, 1.3, 1.4, 1.11, 1.2, 1.1. There are no $10 million calling it a day, no $5 million or even $2 million calling it a day. But the ages were unusually young today, 37, 27, 41, 35, and 64 and 63. By the way, the statistical average of a millionaire in America today is 52. On average, it took them 17 years to get there from the time they got their crap together and started working on it. Okay?

Because a lot of people go through the blue period where they just do stupid stuff. Like I lost everything in my 20s. I just start over, right? And so then 17 years later, quicker than 17, I had my next million back. They always say the second million is easier. You know what it is? You know why it is? Because you've done it, and you know you can do it.

When you've never done it before, you don't know you can do it. You think you can do it. You see other people do it. You think this is going to work. You can do the math. You can do the projections. But once you've lived in it and done it, you've felt it, you walked in it, you go, oh, yeah, I can do that. And then you go, I think I need to work on $10 million, and then I need to work on $30 million.

Once you've done it, what's the next thing you're going to do? What's the next process? And so these guys did it and by the way out of them one of them inherited 200 one of them inherited 70 both of them said those were booster seats they were not the reason they became a millionaire but it did help and obviously if you get 100 or 200 000 or something like, it does help you become a millionaire. But let me tell you what the mythology is. If you take a mic and go down the street, the man on the street interviews, right?

You say, tell me about wealthy people. Well, they inherited their wealth. And see, if you believe that and you don't have a rich uncle, that means you're screwed. So why win? Why go out there and save? Why go out there and try to be successful? Because the only way to be wealthy is inherit your money. The game is rigged, and if you don't happen to win the DNA lottery in a wealthy family, you're not going to get there. That's the problem with that mythology, is it destroys hope. And the Bible says hope deferred makes the heart sick. Here's another one.

Wealthy people are all crooks. That's how they got their money. Well, I didn't talk to any crooks today. I talked to a construction manager, a couple IT guys, a logistics guy, a nurse, and a guy who's a freight distributor. I didn't talk to any crooks. There were no movies going to be made about these people stealing.

Bernie Madoff was not on the show today. So this idea that wealthy people are all crooks is insulting to those of us that saved and worked our butts off and didn't steal a dime and provided service to the marketplace.

Pisses us off when you say that. Quit saying it. It's wrong. It's a lie. Well, all wealthy people are famous people. They're entertainers. They're rock stars, country music stars. They play entertainers. They're rock stars, country music stars. They play professional sports.

Statistically, less than 1% of America's millionaires are recognizable names due to them being in the spotlight. They're not professional athletes statistically. Less than 1% are actors, entertainers, professional athletes. And I've worked with the NFL. We've worked with the NHL. We've even worked with the NBA a couple of times. And let me tell you what NFL stands for. Not for long.

Their average career length is 3.7 years. The number of guys that become millionaires playing football is very low. And a lot of them, as we all know, screw that up. Oh, in order to be a millionaire and be wealthy, you have to be inordinately brilliant. Another lie. GPAs today were all in the threes except one 4.0. No one had six PhDs.

No one had them all with 4.0s. No one invented a chemistry formula that's going to get them the Nobel Peace Prize. These are working people that lived on less than they make doing IT, nursing, logistics, and construction management. Now, let me just tell you, too. I will tell you that the average millionaire is above a 2.5 GPA because they applied themselves to their studies. They had a level of discipline. By the way, if you go to class, most of the time you get a 2.5. If you just go to class, I mean the time you get a 2.5. If you just go to class.

I mean, really. And quit playing beer pong. I mean, just go to class and you'll get a 2.5. But most of us that are wealthy are not 4.2s. My GPA was 2.97 in college. Yes, I'm pissed off about the 3.01. I missed it by 3.01. So, but you know what?

Hadn't held me back at all. I've done okay. The point of this Everyday Millionaire theme hour is you can do it. And you should do it. And I fully expect you to do it. And I want to hear from you on this hour when you do it. I want to celebrate you. You're America's heroes.

That puts this hour of the Dave 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. Have a friend or family member that needs a daily dose of Ramsey advice in their life? Let them know about the Ramsey Call of the Day podcast. It's a quick hit of advice about life and money in under 10 minutes. Check out the Ramsey Call of the Day podcast wherever you listen to podcasts.