The Ramsey Show - App - It's Another Baby Steps Millionaire Theme Hour! (Hour 3)

Episode Date: March 13, 2024

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. I'm Dave Ramsey, your host. This is a Baby Steps Millionaire's Theme Hour. What that means is that Jade Warshaw, my Ramsey personality and my co-host today, is going to talk to, we're going to talk to real millionaires and ask them how they did it and ask them some things about their lives. Why? Because if you hear enough of those things over and over again, you'll recognize you would want to do them. That is, if you would like to have a million dollars or greater net worth. Now, there's a lot of confusion out there about this stuff because there's a lot of whining and so forth

happening in our world today. So let's clear up a little bit of that as we get going. We're going to talk to real millionaires. There is only one definition of a millionaire. There's not two. There's not six. A millionaire is an accounting term. There's one definition. It is the net worth of $1 million or greater. Your net worth, by definition, is not your cash.

It's not your stock. It's everything that you own because you could sell everything that you own. It's someday. It might take a little longer than others, but it's everything you own. What you own minus what you owe. Your assets minus your liabilities. It's called a balance sheet in accounting. And when you take your what you own minus what you owe, if that equals $1 million or

greater, you are a millionaire. Now, I know one guy that has a multimillion-dollar net worth, $10 million plus, and he has over $1 million in cars. Wow. Because he's got collectibles and he's a car collector. Okay. He can sell those cars for that million dollars if he wanted to, probably more actually.

But that is a valid asset today that's what they're worth so today they're part of the equation of him becoming a millionaire it is not your income i heard an actual united states congressman which is just distressing to me that they're this stupid say well he doesn't he's not a millionaire he doesn't make a million dollars a year that is we elected this person to the united states congress that's how dumb we are but uh yeah so what a fool so you're not a billionaire because you make a billion dollars a year. You're a billionaire when you have what you own minus what you owe.

Now, here's the other thing. There's a lot of mythology out there about where wealth comes from in America today. And we'll talk about that. But the four greatest lies that are told is that you can't become wealthy in America today unless you inherit it. It's all inherited. Lie number one. Lie number two. Only extremely smart people become millionaires.

You have to have a 4.2. You have to be the valedictorian. Lie number two. Lie number three. All rich people are crooks. They stole it all. That's just so stupid. I don't even know how to address it.

But that's a lie that goes around. The lie number three, I can't be a millionaire because I'm not a famous country music star, rock star, professional athlete. Only 1% of America's millionaires are recognizable due to their fame. Almost none. Okay, so we'll go ahead and put that one to bed. But these are lies of people. So I started discovering that there's all this angst out there

and this lost hope, and some people are hope stealers trying to steal people's hope by telling these lies because they have an anarchist mindset. Well, if they don't have hope, they don't want anybody else to have it either. Or they have a communist mindset. You we need to burn america to the ground because the little man just can't get ahead and the interesting thing is that what milton friedman nobel prize-winning economist actually said a few years ago is that today and throughout human

history today in america the little man in the United States of America, starting from nothing, has the best chance of building wealth of any human being in history on the planet. Wow. It is the system that gives the little man the best chance. What do you think about, because this is just something I've observed, I think when you're here in the States and you were brought up here and you lived here, it's almost like you get numb to how blessed we are,

whereas immigrants will come. Our poor people are better off than most people around the world. Yeah, immigrants will come into this country, see the opportunity, seize it, and change their whole family tree and become decamillionaires and central millionaires. The truth is, if you are a legal, we'll clarify that, okay?

Make sure I pronounce that correctly, legal, meaning you did this properly. And so you're documented, so you can do business and all that kind of thing. If you're a legal immigrant to this country, first generation, you are four times more likely to become a millionaire than one of us good old boys. Because we get numb to it. We get to taking it for granted. And we hear all these people go, well, the American dream's just dead. You know, the little man can't get ahead.

And I'm like, yes, he can. I talk to him every day. They become baby steps millionaires. They do everything else. So we're going to talk to real millionaires today, whether they won the lottery, whether they inherited it, whether their grandmother sent them money. I don't care where it, or maybe they scratched and clawed and they were a first-generation immigrant.

I don't care. Wherever your money came from, I'm going to ask you about it so that we can show all of you viewers and listeners where millionaires really come from. Now, we know, and we're not setting these calls up, anybody that wants to call that is a millionaire we're not gonna put anybody on this not a millionaire i don't want your broke brother-in-law who doesn't know how to vote's opinion i don't i don't care what he thinks because his his proof text is not there he does he's shown he doesn't

know what he's doing yeah so you know your friend who is a college professor who hadn't got two sticks to rub together but is a communist i don't need his opinion he's broke and i'll say if you've never shared an episode of the show this is an episode you need to share because a lot of people will never hear this kind of conversation and it will blow their minds to hear some of these calls and the things we talk about in this hour yeah and one of the things we'll bring up as we're talking to some of the millionaires throughout the hour today is we ended up, because of doing this hour, I kept hearing this stuff over and over. And I was running into people on the street.

And you and I go out at the commercial breaks and we take pictures. And they'll always come up and they say it real quiet. Hey, Dave, i'm a baby steps millionaire love that they're not loud about it just tell you the stuff you do works man i did it follow the baby steps and i got you know and i'm there and um well dave a million dollars is not enough that's not the question that's on the table uh i'm not sure 10 million dollars is enough but it just depends on what enough is and what you want to do, right? If you have the money to do God's will in your life, you have enough.

That's the definition of enough. So I don't know if you need a million or two million or none. I don't know what you need, but it's not a moral construct. It's a math thing. It's an accounting function, and it's a valuable goal to aim at. It's not the only goal and it won't make you happy, but it'll make you in a better position than when you were broke.

So let's talk to real millionaires on a Baby Steps Millionaire Theme Hour. Jade Warshaw, Ramsey Personality, my co-host today. Hey, you guys. Health insurance costs are only moving one way. My co-host today. So if you feel like the system is working against you, try a biblically-based alternative to health insurance, Christian Healthcare Ministries. CHM is a health cost-sharing ministry that's helped hundreds of thousands of families like yours take care of over $11 billion in medical bills since 1981. And CHM has also helped them stay true to their values and avoid miles of red tape. And CHM support goes far beyond meeting financial needs.

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Jade Warshaw, Ramsey personality, is my co-host. If you want to know more about this subject, I wrote a book that ended up being a number one bestseller called Baby Steps Millionaires. As a matter of fact, it was my latest number one. Come to think of it. James is in Dallas. James, what's your net worth? My net worth is about $1.2 million.

Cool. Give me a little breakdown on that by category. What is the 1.2 composed of?. Give me a little breakdown on that by category. What is the 1.2 composed of? Yeah, I've got it consolidated. So our house equity is about 565,000. Retirement is 440,000. Cash and money markets about 56,000. Brokerage investments of about 51,000 and then college for the little one saved so far in 529 to 56,000 cool well done how old are you 32 wow young millionaire all right how much of the 1.2 how much of the 1.2 did you inherit um i inherited about $10,000 to $15,000 from my grandfather in a living trust, so not much, but he did leave some for me.

How long ago? Over the past couple years. So you were probably almost a millionaire before you got that? Oh, yeah. Mathematically, it's safe to say you're not a millionaire because of an inheritance. Is that fair? That's a fact. Okay.

All right, cool. So your income at your best year since you've been working your worst year since you've been working give me the range started um in 2014 at like 57 000 a year and now i'm up to like 230 a year cool what do you do for a living uh most of the time i've worked for same company. It's been in either sales or business management, but now I work in international sales for a chemical company. Okay, very cool. And your degree, do you have a four-year degree? Yep, I do.

I have a degree in sales and marketing, and then I finished my MBA about a year ago. Good for you. What was your GPA and your marketing degree? It was about a 3.4 in undergrad and then like a 3.9 for my MBA. Most people do better in grad school. Okay, good, good. So how much of this $1.2 million would you say you have because you borrowed money to build wealth? Nothing except for a mortgage. We pay cash for our cars everything right so zero okay cool all right um so what advice do you have to the 22 year old version of you that's listening to

this can it still be done absolutely i wrote down a few things uh so the first is the usual so start early utilize company matches and contribute as much as you can. Put 20% down on your house and then pay cash for everything. Like I said, track your progress. So every month we sit down and add it all up to see where we're progressing. Third is run your personal finance like it's your job. Push yourself and make money work for you, not against you. Fourth is set goals. So our goal is to be millionaires by 35 and have a life where my wife could stay home with kids. And then lastly is reverse auction, all your major services, projects, and large purchases like cars. So go out and make suppliers give you a competitive bid, then make those companies bid against each other.

So, for example, like when we bought cars, if you save $5,000 and it takes you 10 hours of work to negotiate those bids, it's like you're paying yourself $500 an hour. So you save big money that way. So did you guys, just a question, what about your car situation? Were you people that drove brand new cars or did you drive used cars? I'm sitting in my 15 year old beat up pickup right now. I bet you are are we've paid cash for cars i haven't bought a car in nine years now and when we got married that was an eye-opener for my wife but she's come along for the ride and uh we bought her a used car a couple years no pun intended yeah long for the ride in the used pickup yeah good way to go man I'm proud of you. Very, very well done. That's awesome. Sam is next. Sam, what's your net worth?

Mr. Ramsey, great to talk to you, sir. You too, man. I am $1.2 million in Roth 401k and 529, $20k in cash, and then we have our house paid off and we have our rental property paid off so what's your house worth i think uh comps in the neighborhood are maybe at 800k so you got about a two million dollar net worth is that what i'm hearing and i think and the rental property probably bumps that up even some more so what would you call your net worth uh let's see, 2.3. Okay. If we include the house and the rental property.

That's included in your net worth. Yeah. Yeah. So thank you. How old are you? 46. Good for you. And how much of this did you inherit?

Zero. Okay. And your best year working income and worst year? Oh, worst year, boy, starting off in the military, I think I made $35,000 one of those years. And then since I've been retired from the military and working in sales, I had a real good year at like $200,000. Okay, so you're in the sales. Okay, so you served in the military. Thank you for your service. Did you get a four-year degree? I did, yes.

In what? In business management. Okay, in business. And what was your GPA? Oh, I got undergrad, I think maybe a 3.0. Okay, cool. And sometimes people say the only way you can become wealthy is to borrow your way into it. Did you borrow your way into this, or did you just do something else?

No, same as the previous caller the only borrowing i can think of is the mortgages which uh you know i really want to say thank you because uh you were the first person to put the idea in of paying that off early and just the uh the uh worry-free nature once you get your home paid off is excellent. Yeah. So you probably are attuned to what's happening and being said in the culture. People say this can't be done now. Do you think it can still be done? Yeah, you know, I was thinking about that, and I just kind of wanted to be on the show and maybe talk to anybody who's in the military and the reserves

and those young people. They do have some time when all your living needs are taken care of. You know, you have your housing allowance and you might be on a deployment. And that was the key for getting it done for me is that during my deployment, I always just thought this is an opportunity to save and then get the down payment for everything done. And so. Well, it bumps your income and depending on if you're in a zone or not, you get tax free, right? That's correct.

Yeah. And there are also some other benefits where you can essentially get a bond for the time you're deployed as well. Yeah. Wow. Wow. Good, good, good, good advice. Good stuff. Yeah.

Thank you. Tell me, I'm always going to ask about the cars because I tell people all the time that, you know, the car payment, that's the gap between middle class and wealthy. You know, we know people are carrying car notes of $700, $800, and even $1,000. So tell me, did you buy new cars? Did you keep car payments around? Oh, no. I never got the new car, and that is the status punchline on military bases, that the young soldiers get the fanciest cars with the highest interest rates. Ah, and you were like, I'm not going to play that game.

No, no. What do you drive right now? Oh, a beat-up Subaru. What would you tell the 22-year-old version of you if they're in the military to take advantage of that stuff? Anything else, any other advice you got for them? Yeah, you know, I would say that, thankfully, somebody just kind of came to me and said, you know, there is a way to kind of never pay retail and to pay cash for things. And so just kind of get the things that you need and get it on sale.

And that alone, the idea of just kind of putting a little bit more away every month, it just kind of becomes a game. Yeah, you never get a deal if you don't ask, so always ask. Yeah. And very seldom are someone offended because you asked sometimes they just grin giggle look at you and go no but they are never offended and i'm amazed i'm amazed most of the time that you ask is this getting ready to go on sale oh next week yeah can we go ahead and do that now you know i mean it's like because they just work there. It's not like their money. Right, right, right.

And so they like making a sale. I mean, my gosh, it's, you know, just ask. I love that. That's very cool. Well done, Sam. Good work. You're a hero, man. So here's the rule.

Here's what we found. We studied 10,167 millionaires. 79% of them, 8 out of 10, received zero inheritance. Another 5% received a small inheritance Not enough to make them a millionaire like the other guy, 10 grand Another 5% got good money but it's after they were already millionaires 5 in 5 in 79 is 89 That's 9 out of 10 of America's millionaires are first generation rich

If you disagree with that, you're what's known as wrong. That's airtight research. That's data. It's not an opinion. Nine out of 10 millionaires in North America started from nothing and did it without an inheritance. jade washall ramsey personality is my co-host today open phones at 888-825-5225 well all wealthy people become wealthy became wealthy by stealing their money well the problem is that that's another lie that we're doing a millionaire theme hour here that doesn't hold up let's think about this okay because a lot of these folks uh if you're at work working for someone else and you're stealing money what do they do give you. No. Give you more money to steal. No. They fire your butt.

If you steal money when you're at work and you work for someone from the customer or from the office, they fire your butt. So explain to me how you work for someone else and you get rich by stealing. That's just ridiculous. Oh ridiculous oh you run it's all these business people okay well let's try that one all right when you're when you run a business and you steal money from your customers or you cheat your customers what do they do they send all their friends to do business with you no they write a crappy review and never come see your business again. They trash you on every form of social media and say, this guy's a crook. I took my car over there to get it fixed.

He owns a repair place. He ripped me off. And no one goes over there that they know. But if you do a good job and you're an auto repair guy, everybody sends people to you because you're kind of rare. Well, what about this one? Dave, my job, I can't be a millionaire because my job doesn't pay enough. It's only for people who make $100,000 a year or more.

Yeah. 33% of the people in the millionaire study that we did, one-third, never made six figures. Here are the five top categories of jobs that we found among the 10,167 millionaires. Number one, most likely job, most often occurring. In other words, if you had this job, you were more likely to be a millionaire than any other job. Engineer. Number two, accountant. Number three, teacher. Number four, business and sales. Already had two sales guys on here so far. Number five, attorney.

Number six, didn't even make the top five, was docs. Doctors, medical doctors. They're notoriously bad with money. The only people worse than bad with money the only people worse than them with money are professional athletes and music stars true that they're notoriously bad because they're arrogant a lot of them and so we work with them all the time i see i see a lot of broke doctors out there they're everywhere so but they top six in the top 10 but this thing of oh it's all doctors and lawyers no it's not teachers

number three so we couldn't figure it out when we first found this in the research because we couldn't figure out what the correlating thing between these engineer accountant lawyer business and sales teacher what do these have in common because it wasn't a high income i'm going with like they're systematic they're systems personalities they're systems people they're all process people if there's a there's a way to build a bridge and it doesn't fall so that's how you build it that way it's a system if you're an engineer there's one way to do accounting accounting is not an art form you do it you follow the system or the accounting is wrong generally accepted accounting principles gap there's only one way to do

accounting you flunk the class if you don't do it you go to jail for embezzlement if you don't do it your customer goes to jail if you're doing their taxes so you know there's one way to do accounting if you're a lawyer there's only one way to litigate that's interesting i mean you you go before the judge there's a series of processes you have to do filings you have to do proper procedures you have to follow teachers follow a lesson plan the number of teachers that were married to policemen that became millionaires was huge again policemen believe it or not follow a very set protocol makes sense an exact it's called the law but they all but they also are trying to keep from getting killed right and they're also trying to keep from getting sued or something else so there's a whole set of safety protocols legal

protocols very very precise to be a to be a professional law enforcement person and so we these people that are systems people are there when you are some when you're involved when your brain is involved in something that's more free form uh you know it's it doesn't occur as often that you become a millionaire because you refuse to follow the process you think the rules don't apply to you well that's good to know especially as a musician yeah any any creative you know now okay i'm gonna have to dial it in well what happens with the creatives the reason they become millionaires is they just make so stinking much money. They can't help it.

You know, if you're a Hollywood A-lister, you just make a pile of money. You're a country music superstar. You make a pile of money. Now, some of them are excellent people. I know a bunch of them, and some of them are excellent with money. They're great business people, and some of them are dumber than a rock. Yeah. But they just out-earned it, right?

And so that's true with a lot of people. But this systems thing is a big deal. So the point of all of this is to give anyone out there listening hope that you, too, can do this. Danielle is with us in Connecticut. Danielle, what's your net worth? Hi, Dave. Hi, Jade. It's 1.1.

Cool. Give me a little breakdown on that by category. How much in retirement? It's pretty simple. It's about a third in each bucket with retirement, house, and savings. Good. How old are you? 28.

Wow. Young millionaire. Way to go. I want to know more. Yeah. How much of you? 28. Wow. Young millionaire. Way to go. I want to know more. Yeah. How much of this did you inherit? $10,000. $10,000.

So you're not a millionaire because of the inheritance. What's been your range of income, worst and best? Depends when you want to start that. Well, I mean, when you were an adult. Yeah. So out of college, it When you were an adult. Yeah. So out of college, it was 67. Okay. And what's been your best year?

And then our household income, I'm married, currently is 316. Nice. Cool. What do you all do for a living? What's your careers? We fit that stereotypical list that you just ran through. We're both engineers. You're both engineers you're both engineers i love it so you've obviously got engineering degrees what was your gpa uh mine was 3.6 and my husband's was 2.9 wow good okay and uh how much of this

1.1 at 28 years old is there because you borrowed your way into wealth? We did have a mortgage of 100K at one point, depending on how you look at that. That's so cute. That's just cute. That is paid off. That's precious. I love it. Way to go.

You're amazing. That's amazing. I mean, do you not sit back and pinch yourself and go, I'm a 28-year-old millionaire? Yeah. It feels normal, though. Honestly, like you were saying on your show earlier. Because it happens gradually. Yeah, I feel like a very normal person. I think it's just because when you're not spending your money.

And you're investing it. Yeah, then you live a very normal life. so it's just it's just cause and effect if you build a bridge this way it doesn't fall and if you put money in savings there's money there i just i just love people like you that so common sense just give the finger to all the things that we talked about earlier which is no one can get ahead the way these prices are and you're 28 like you are in the prime time of when complaints can complain you know what i'm saying like you're right in the middle of that and you were like not me that's crazy i gotta know how often are you in a room where you just have to sit and smile because all the other people are bitching i thought so i thought so some of my friends she's got pictures in her face right now

she's thinking of marge right now man that is so so crazy wow that is awesome way to go danielle i'm proud of you you're a hero michael what's your net worth michael michael hello what's your net worth i think that's okay what's your net worth about 4.5 cool give me a little breakdown by category yeah uh sure so i have my house uh for about just under a million dollars i have have investment property, a little over a million dollars. And then between stocks and CDs, well, CDs, 1.2. All right. I want to keep talking to you after this commercial break, but I'm being run off the air here.

So you hang on. I'll be right back with you. This is a Baby Steps Millionaires theme hour. Our scripture of the day, 1 Thessalonians 5.18. Give thanks in all circumstances, for this is God's will for you in Christ Jesus. William Arthur Ward said, Feeling gratitude and not expressing it is like wrapping a present and not giving it. Thank you.

Yeah, that's why I'm better than I deserve. No question about it. This is a Baby Steps Millionaires theme hour. We were talking with Michael before we went on the commercial break. $4.5 million net worth. $1 million in house. $1 million in investment real estate. $2.5 million in mutual funds and stocks. How old are you, Michael?

I'm 48 48 very cool and how much of this four and a half million did you inherit i never no no inheritance no inheritance okay and your range of income your best year working and your worst year working my best year uh i would say probably 1.3 million. Wow. Which was a rarity. Okay. Yeah, that was a way off year. Okay. That wasn't like a regular.

Amazing year. I wish I could have made that every year. Yeah. But I had like two years of that because of COVID mainly. Ah. Because I was in real estate valuation. So I did real estate valuation specializing in mainly bankruptcy estate settlement. And I testified about real estate values basically as a real estate expert.

Wow. Interesting. So in values. So, yep. Yeah, and what's been your lowest year since you've been working? Probably in the maybe 40-ish. That was probably around maybe. So your job is you're an appraiser?

I wasn't an appraiser. I retired about a year and a half ago. That's awesome. Okay, but in your appraisal field, you kind of took it up a notch, did some court cases and did some other things, more than just appraising the local house, right? Yeah, I found a specialty niche. Yeah, that's what it sounded like.

Basically litigation. Yeah, and then the COVID thing really just poured gas on it, no pun intended. Yeah, okay, cool. Very cool. So do you have a four-year degree? Yes. In what? In what?

Business management. Business, okay. All right, and your GPA on that? Oh, probably 3.1 or something like that. Okay, All right. And your GPA on that? Oh, probably 3.1 or something like that. Okay. All right. And how much of this 4.5 in net worth do you think is there because you borrowed your way into wealth? None. I never take out any loans. I don't do any kind of, I don't owe anything. I don't owe anybody. That's why I was able to retire because I don't owe anyone in real estate and any cars or anything like that. Did you buy your rental in cash, too?

No. Actually, originally, I put out a really small loan, like a couple hundred thousand dollars, over a million. Then you just turned around and paid it off as fast as you could. Mm-hmm. So you've seen debt as a way to slow you down, not to speed you up, is what you're saying. Yeah. Yeah, it's never good, especially being in business, because I can't control my business. I can't control my income. I could, you know, anything could happen.

I can go down anything. It's not really a business business. It was more of a self-employment, you know, like any small business. If you go down, you go down. Hey, let me ask you a question. When you look back on all of this, this $4.5 million, honestly, what role did a credit score play in this? Do you look at that and go, you know what, the reason I was able to rent out my office at one point. So they ran my personal credit because I'm a small company. So I wasn't like, you know, IBM.

So it was all on me. So if I had bad credit, they wouldn't have rented my office to me at that time. Okay. If you had no credit, they would have if you'd have put down a deposit, though. Yeah. Okay. Yeah, I probably would have jumped them on yourself. Yeah.

I think you're okay. i think you did okay well but i guess jay's point is i don't think you're have 4.5 million because of fico no no no no i think i think no because the fico score is touted as being the answer to everything and it's really not that's her point so no no i think the biggest thing is cutting expenses um just like for myself um i keep my expenses really low you know it's just really just paying my utilities my insurance my taxes uh that's really it living on this and you know if i'm at you know michael i'm so proud of you you did great man you're a hero congratulations very very very well done excellent excellent all right eric and, we're against the clock.

What's your net worth? 1.9, Dave. Very good. Give me a breakdown by category. Sure. Our savings and investments is 1.3. We have about $37,000, $38,000 in cash. Our vehicles are $50,000, and our house is $550,000.

Okay. Cool. So it's investments and home is the bulk of it. Okay. Very good. How old are you guys? I'm 58. And I'm 57. Very good. And how much of this did you inherit? How much did you inherit? Oh, nothing. Inherited nothing. Okay okay and what's been the range of your income in your working life your best year working in your worst year working our worst year is when we first started the combined income was 41 000 and our best year is probably right now we're at about 255. I have a pension. Very good. Okay. What's your career?

I retired as a state trooper after 25 years. Awesome. Okay. And what was your career, Amy? I'm in marketing and media as a social media strategist. Okay. All right. Very good.

So marketing, perfect. And you guys have four-year degrees uh i have actually a master's degree okay and what business administration an mba okay and what about you eric i i have a bachelor's in police science okay all right perfect just and you both used them okay what was What was your GPA, Eric? 3.0. Good for you. And what about you, Amy? I strived for the 3.0, but I only made it to 2.9.

Ah, me too. I had a 2.97. That three one-hundredths of a point is still pissing me off. Yeah. I love it. Hey, you guys are amazing. Congratulations. Very well done. There it is, a policeman and a marketing specialist. Again, I told you, these people show up all the time. So here's the tally for the day, folks. Zero are, we had one, two, three, four, five different people we talked to. 1.2, 2.3, 1.1, 4.5, and 1.9. None because of inherited money. 32 years old, 46 years old, 4.5, and 1.9. None because of inherited money.

32 years old, 46 years old, 28, 48, and 58. No 87-year-olds. That's right. Okay. And nobody was a rocket science major with a 4.4 GPA. They were all in the threes. By the way, the average millionaire GPA is 3.1. For those of you that don't know i'm a little below that and um we don't find many of them with a 1.6 because it does require some gray matter to get

this done okay but we don't find any of them that are like perfect students and valedictorians either okay so you don't have to be brilliant you don't have to be famous you don't have to be a crook and you don't have to inherit it. You don't have to be famous. You don't have to be a crook. And you don't have to inherit it. It's statistical data that is indicating that you in America have a chance. That's good news, Jade. It's great news. And I'm looking at the mix of their investments. It's their home, their retirement account, and cash on hand for the most part.

Two of them had rentals. Yep. And nobody borrowed their way into real you know i'm gonna i'm gonna you know i'm gonna be a tiktok star and i'm gonna borrow i'm gonna put nothing down and buy 73 houses and that's gonna make your it's gonna make you bankrupt you idiot that's what it's gonna do none of these people do this they're none of them doing this stuff you see on tiktok none of them and it's not just because they're calling this show. You can't find them out in the wild that do this stuff.

They're not there. It's mythology. So it's the tortoise beats the hare every time I read the book to my grandkids. Slow and steady beats is flash and sexy and I'm cool look at me nobody cares what you look like be an ugly tortoise steady step step step step shut up step that's how you do it boys and girls that's how it happens even the 28 year old did it that way and she was an engineer and just kind of bored with it all yeah yeah yeah she had to sit silently in the room of complainers so great her peers she was awesome yeah she was great these they were all great they weren't driving new cars hey we don't tell these people what to say we just

interview real millionaires not whiners and complainers from social media. These are real people. So, guys, our purpose of doing this is not to say we're right, although it does say that. Our purpose in doing this is to show you you can do it. There is hope. That puts us out 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. Thank you.