The Ramsey Show - App - You Can Become a Millionaire Without an Inheritance! (Hour 3)

Episode Date: September 16, 2020

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage may be an indication that you're an everyday millionaire. It's an Everyday Millionaire theme hour with Chris Hogan, Ramsey personality, and author of the book Everyday Millionaire. We're going to take questions, or not questions, we're going to interview and take calls only from millionaires this hour. We started doing this a couple of years back, I think three or four years ago now. It's become one of the more popular hours. We only talk to real millionaires, not your broke brother-in-law

with an opinion, not your finance professor that's broke, not your banker, but real people that have real money and will tell you how they really did it. That's important. It really is, Dave. And it lets people know that the American dream is not only alive, but it is available. Okay. And so there are a lot of myths out there and I chop them all down in the book. People, if you've not read everyday millionaires, how ordinary people built extraordinary, and you can too, you need to pick up a copy. Because what I found, Dave, and you've known this long before me, because you're a lot older than me, is that, I'll try to slide it in there, that a myth that's told too long, too loud, people actually start to believe it. Yeah. And the myth is that you cannot build wealth that you have to inherit it. That's right.

And that all millionaires, all wealthy people inherited their money. And we have found with detailed in-depth research as well as anecdotally here on the air, that's simply not true. Some people do inherit money, and there's no shame in that. Not at all. That's a wonderful thing. Yes. But the vast majority of people that are millionaires and above in America did not inherit their money. That's right.

So regardless of how you got your money, if you're a millionaire, we want to talk to you. The phone number is 888-825-5225. And sometimes people get confused about what a millionaire really is. Yeah, Dave. So let's explain it to them. So what you want to take a look at is what you own minus what you owe. And so what you own, so that's looking at the money in your 401ks, your IRAs, your Roths, your equity in your home, the cash you have, minus anything you have debt on.

And so once you do that, if that in number is a million dollars or more, then guess what? Congratulations, you're an everyday millionaire. Well, I don't feel like one. Well, it doesn't matter. And I'm not talking about feelings here. I'm talking about facts. Okay, so you got me riled up. You baited right there ramsey and i took it but the reality is this is about the numbers people it's about the numbers yeah it's it's a fact even if you because you don't you're truthfully if you had a million dollar net worth you don't really feel rich right uh because you've been paying a price to get there and you you live a fairly modest life you know dave is so funny you said that i actually had

a lady called the Chris Hogan Show. I was walking her through what they had in assets. And I did the math and I said, ma'am, you're an everyday millionaire. And she said, oh. And I said, say it. And it took her a little bit to be able to verbalize it in her spirit. Yeah. Yeah.

Speak it out loud. Speak it out loud. All right. If you're a millionaire, we want to talk to you and find out how you did it. The phone number is 888-825-5225. Edward is in Port St. Lucie, Florida. Hey, Edward, what's up? Dave, good afternoon.

Chris, good afternoon. How are we doing? Great, man. What's your net worth? $1.4 million. Love it. Very cool. And how old are you?

I am 52, and my wife Kelly is 48. Very good. And so how is that 1.4 broken down? What's the mix of that? It's broken down with real estate when we started and probably some bond funds and growth stock. How much in real estate? In real estate, probably $600,000, $700,000 of it.

Okay. The other half then is what? Other half would be there's some bonds in there along with some mutual funds. Okay. And so $700,000 in bonds and mutual funds. That's correct. Okay. Very cool.

Good for you. Retirement? Is that the mutual funds? Is the retirement account the mutual funds or you don't have a retirement account? Retirement is mutual funds. Okay. All right. So some of the $700,000 is like your 401k then?

It's not 401k, but it is a retirement fund. Gotcha. Okay, cool. So how much of the $1.4 million net worth that you have at 52 years old did you inherit? That would be zero. Okay. All right. And what has been your range of income from the time you started working at the low point to your best year ever?

Probably between the two of us, it's just been $50,000. Your household income maxed out at $50,000? That's correct. Never made over $50,000, all right. Never made it. What were your careers? Careers, I was a commercial fisherman and my wife owned a hair salon. Owned a what?

A hair salon. Oh, hair. Okay. All right. Very cool. And did you all go, did you get a degree in college? I did not. Did your wife?

Did not. Okay. And do you remember your high school GPA? Chris, that's a funny story. Actually, I turned down high school graduation and went to work. Wow. Okay. And did you or your wife ever work with an investment professional?

Yes, we did. Okay. And I'm curious, do you all do any giving as a family? We do it to our local church and to the local club. Okay. That is good. So what do you tell people the secret to being a millionaire at 52 years old making 50K as a fisherman is?

Just early, remember, like I would say, stupid around every corner. What was the dumbest thing you ever did with money the best thing i ever did with money is start soon enough not saving enough if not saving enough early enough okay all right what's the smartest thing you ever did is listening to a professional. Ah, okay. So your pro really helped guide you into this then. That makes sense. Very cool. And just, if you didn't have the money, you don't spend it. That's right.

Edward, was anyone in your family a millionaire? Were your parents, did you come from money? Absolutely not. Yeah, I didn't think so. That's awesome, buddy. Congratulations. Well done, sir. Very proud of you.

Great job. That's exactly how it's done right there. Not making over $50,000, didn't graduate from high school, but he's an everyday millionaire. That's not an accident. That's someone that learned work ethic, but also, as he said, got guidance and learned how to save and invest. Man, oh, man, that's awesome to hear. Right out of the gate. Well done.

Very well done. Yes. Well done. Well, we did a survey of over 10,000 actual millionaires, the largest study of millionaires ever done here at Ramsey. Chris took the information. Our team took the information from that survey and wrote the book everyday millionaires, because that's what we found were people just like Edward all over America. And, um, they, they were all a little bit offended by the political movement that says that they all inherited their money and they were somehow trust fund babies because they had worked their tail ends off to get there. Yeah. And we found that.

We put 142 of the statistical findings in Chris's book. That was not enough for some of you nerds. And you're like, you wanted a white paper. Yes. So we wrote the white paper and put Chris's smiling face on the white paper, although he had nothing to do with it. It is an exciting read, no matter what Dave Ramsey says. No, it's not.

It is. It is. Listen, if you're having trouble sleeping, get this book. No, no, no. Not the Everyday Millionaire, but the little white paper nerd study, the National Study of Millionaires. People, I want you to read a copy of this, and I want you to write in and tell me how exciting this is. If you tell me this is exciting, I'm going to tell you you need to work on your life. I'm just saying.

You're going to have to work on it. It's a lot of great facts and information. It's $9, and you can pick it up if you want all the back story. In other words, the white paper, the details of the research. Our research geeks, they had a blast putting this together. They are fantastic. Yeah, they're wonderful. They're nerds.

Yeah, they're nerds. They did a great job. I'm proud of them. And this thing's selling because there's apparently a nerd niche out there. So there you go. This is the Dave Ramsey Show. Families all over the country are discovering a faith-based and budget-friendly way of meeting health care costs, whether they're anticipated or completely unexpected.

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visit chministries.org. That's chministries.org. CHM is a proud sponsor of Dave Ramsey Live Events. it's an everyday millionaire theme our chris hogan ramsey personality and author of the book everyday millionaires is my co-host today here on the air open phones at 888-825-5225 as we take calls only from real millionaires today michael and lisa fit that category from fort wayne indiana hey guys what's your net worth hey dave and chris it is truly an honor to speak with you guys today our net worth our net worth is 1.2 million good for you okay and how old are you guys? I am 48. And Lisa? 58. All right. Very cool.

So give me the breakdown on that. How much in different categories totals up to 1.2? Well, we got 530 in a 401k. We got 110 in a Roth. Got 175,000 in cash. 340 in a paid-for home. And 100,000 in cash, $340,000 in a paid-for home, and $100,000 in liquid assets. Wow. Good for you.

Well done. And how much of this 1.2 did you inherit? Oh, none. That would be zero, okay. That would be zero. And your range of income, household income, your best year and your worst year since you started your life. Since we started our life 25 years ago, our lowest year has been $60,000, and our highest has been $110,000. Very cool. What are your careers?

Dave, I am a garbage man. Okay. And Lisa? I'm a secretary. Okay. Whoa. Did either one of you get your degrees? No.

I actually dropped out of high school in 10th grade and went back to school in 2003 and got my diploma. And Lisa graduated high school. Very cool. That is fantastic. Do you remember your GPAs? Why is she chuckling so much? Hers is higher, I bet. I guarantee

you. Exactly. Okay, Lisa, what was your GPA, young lady? Oh, I probably had a 3.9. Oh, just a 3.9. Okay. Michael, bless your heart, where did you fall? What'd you get? Come on. Barely.

Barely. I'll write that number down. That's fine. There you go. I was the portion of the class that allowed the top half to be possible. You made the curve happen, right? That's right. That's right.

Did you all throughout your lives and your career, did you ever work with an investment professional? No. your lives and your career did you ever work with an investment professional um no and we did on the one um roth but my 401k i manage myself okay i do all the i do all the research on it and background and and picking and choosing um and it's worked out pretty decent um we actually started only really hitting it hard on investing probably about 13 years ago. Wow. So it's worked out well for us. So the 25-year-old version of you is listening. Yeah. What do you tell them?

Well, work hard. Invest early, you know, because once you start seeing that come out of your paycheck, you never miss it. Because it's always, you know, you just get used to it. When you get a raise, up your investing, you know, if you're out of debt, you know, put that into investing. Be intentional, you know. The only one stopping you from being wealthy is the person in the mirror i mean it's it's you um you know when i started in the trash business hauling trash i worked 55 to 57 hours uh a week and i've been doing it for 28 years and you know when the when this virus hit they

knocked us down to about 40 hours and i called lisa asking her if i should get a part-time job you know because i'm just not used to working so i would say just you know like you say dave kill it and drag it home and live live below your means that is done cash is king that's right so so lisa what do you tell the 25 year old version of you guys that's what i tell him debt is dumb cash is king like he said live below your means beans and rice save your money have you guys have you guys had a good life i mean or have you just oh you sat at home bored and save money no dave and, you know, a funny thing, we take usually two to three vacations a year, and we usually travel around, stay in a VRBO.

We just came back from Cherokee Lake out by you. Yeah. We spent a week out there and loved it. We hauled the boat out there, did some fishing, and, no, we live a fantastic life now. You know, and we consider ourselves normal people. You know, we're just normal. You know, I'm a garbage man. She's a secretary.

And if we can do this, anybody can. It's not rocket science. Yeah. I'm so proud of you guys. Well done. My goodness, you can hear the joy. Yeah, very well done, y'all. You can hear the joy. Yeah. Very well done, y'all. You can hear the joy in

their lives. And I... Very well done. A sanitation worker that didn't graduate until 03, went back and got his degree as secretary. Who didn't get serious about investing until about 13 years ago. Tell you what, though. Cherokee Lakes up on the edge of the Smokies over here. It's beautiful. Is it really?

They just had a great vacation. That's cool. That's awesome. Well done, you guys. Very, very very well done roman is next in huntsville alabama roman what's your net worth uh 1.3 million very cool and how old are you i'm gonna be 33 oh you're a young one a few weeks good for you all right break that down how much in each category and what categories are the money is the money in well most of the categories is in real estate um and um probably about i'd say 98 of it you know uh we have a little we started doing some mutual funds uh probably about you know four or five years ago we've just kind of been contributing to it. So you don't have any cash?

No, we do have cash. We have our emergency funds. So how much cash have you got? We got about $80,000. Okay, so roughly then you've got about $1.2 in real estate, you're saying? Yes, yes, yes. Very cool. Good for you. That's fun.

Good job. All right, how much of this money did you inherit? Not a dime. So I came, you know, my dad was an immigrant from Ukraine, and it was kind of interesting. I remember my dad dragging me when he started flipping houses. And as a kid, I remember falling asleep on the floor and my dad fixing up these houses late at night.

And my dad came with $200 in his pocket with me and my sister from Ukraine and just gave me a hard work ethic. But that didn't change when me and my wife got married. I got a fleece, you know. I still remember to this day my Ford F-150 and $466 a month. I thought it was, you know, tax write-off. We got married. We bought another vehicle. Got into debt when we got married, you know. And then the bottom fell out for me in construction. That's what I do.

And, you know, I kind of got rid of everything you know you know it was God's glory I kind of walked into the Dave Ramsey plan situation and we just started we sold everything I bought this pickup truck in 2001 old beat up thing and I think I still have it today

just as a reminder it has about 300,000 miles but it sits there yeah and just you know lets me know where i came from that's right absolutely yeah let you know not to lease another truck huh yeah no we're never doing that again well done we went to a yeah we i think we went to a uh because after everything fell out i went started trying to pick up a job in uh the union carpenters union i think we spent the night at a motel, and my wife pulled all the sheets out, put our new sheets down, and, you know, we went to Ryan's, had a steak,

and I thought it was the best steak I had in my life at that time. It was tough, but when we got on that plane, at this point, I tell everybody about it, you know, friends, family, church, and, you know, we've just been digging it. We've been just digging at it. And we live with my in-laws now. We sold our home, and we're building our home right now, you know, cash, debt-free. Wow.

Way to go, Roman. Yeah, buddy. Way to go. Very, very, very well done. Awesome job. Okay, so we've had three we've talked to so far. 1.2, 1.3, buddy. Way to go. Very, very, very well done. Awesome job. Okay, so we've had three we've talked to so far. 1.2, 1.3, 1.4. Right there in the one million

and most of them fall within the typical demographic, the typical framework that we find in the research. First generation. If you inherited all your money, though, we'll talk to you. There's no shame in that game. Nope.

We want to learn all about real millionaires, so you call if you're a real millionaire. 888-825-5225. Hey, guys. At the Dave Ramsey Show, we really value your input. It helps us to know what's important to you so we can deliver relevant content to help you crush your money goals. We just launched a brand new survey, and we'd love your feedback. It only takes a few minutes minutes and you'll be entered to win a 100 amazon gift card no purchase necessary take the survey at daveramsey.com

slash survey or text survey to 33 789 Chris Hogan, Ramsey personality and author of the number one best-selling book, Everyday Millionaires, all about the study that we did and the conclusions we've come to as a result of the study about what real millionaires look like in America, not what someone with a political agenda says. Not someone who's concerned about socialism says. But the real facts about what real millionaires are. The phone number if you're a real millionaire to talk to us.

We want to talk to you today, regardless of where you got your money. 888-825-5225. Chris, you got a new 30-page guide that's free that can be downloaded. Talk about it. Yes, this is an investing guide. Listen, the investing world has so many terms, acronyms, and little nuances, and it's really important for you to grow your knowledge, right? You got to believe that you can grow in your knowledge, but then you got to take the right actions. And so I want you to have confidence in learning about this. And so it's a free guide.

It's a 30-page guide, probably closer to 34 pages. But it's got a lot of information that is free for you, the investing guide. All you have to do, you can download it by going to ChrisHogan360.com slash start now. Let me say that again. ChrisHogan360.com slash start now. Let me say that again. ChrisHogan360.com slash start now. And I'm hearing from millennials that they're learning, loving learning, but they're also loving being able to educate their parents. And I'm also hearing from parents loving sharing that information with their young people. So let's all grow in our knowledge so we can gain confidence. And when you can gain confidence, you

can make progress. There you go. And so many of the people that were dealing with, Chris, that have become millionaires have done so using the principles we teach, whether we taught them or not. It's called common sense, getting out of debt, living on less than you make. There's no better way to get encouragement than by joining a Financial Peace University class. They're virtual right now. And we've got some physical classes, but most of them right now are virtual classes. Thank you. which means you get our number one money course for FPU, plus the premium features of the budgeting app, the world's best budgeting app, EveryDollar, and our new Baby Steps Tracker app. All of that and free coaching, all kinds of stuff helping you there in Ramsey Plus.

You can get a free trial to all of it. It's not truncated. You get a free trial to the whole thing of Ramsey Plus. Just text the word JOIN to 33789. Text JOIN to 33789. Kevin is in Tampa. Kevin, what's your net worth? Hey, Dave, $1.24 million.

Cool. Break that down for me a little bit. All right. We're looking at for retirement in round numbers, $900. Outside of retirement, investing in cash, got about $100. And about $400 in real estate and other things with a mortgage on the house of about $160. Okay. Very well done. How old are you?

53, and my wife is 52. All right. Very cool. And how much of the $1.24 million of net worth did you inherit? Probably around $50,000 of that. Okay. And how long ago did you get that $50,000? It's been distributed throughout the last probably 25 years, yeah. Okay. So is it safe to say mathematically that you did not become a millionaire because of the inheritance?

Yes. Yes, that is safe to say. Okay. Just making sure I'm being real clear here. I don't want anyone to misunderstand out there in the land of crazies. So they're out there. All right, cool. So what do you guys do for a living?

I'm an aircraft mechanic. And I have been a stay-at-home mom for the last 20 years. Awesome. Very cool. Prior to that, I was a secretary. All right, very good. Love it. Domestic engineer and all that stuff, right?

Yeah, I bet. So did you get a four-year degree, either one of you? Did not, no. Neither one of us. Okay, cool. And do you guys remember your high school GPA? I graduated. I made it through all four years. Graduated. Thank you, Laudy.

Good enough. Good enough. Hey, did you all all throughout your investing career, did you ever work with an investment professional? We have recently. We didn't early on. We just kind of hoped and prayed as we invested in the 401K. And then lately we've had somebody looking over our shoulder, just kind of keeping track. How does it feel when you added it up and you realized you were a millionaire? Well, we were just talking about that, my wife and I, a little bit ago.

You mentioned it earlier in the show, I don't feel like a millionaire. And it was one of those things that we never really paid attention to. And then all of a sudden one day we just looked down and went, oh, my gosh, can you believe this? Yes. Yeah. Yeah. Wow. And starting from nothing. So what was your range of income, your best year of your household income and your worst year?

Best year, probably 120, and worst year, probably in the high 30s. Okay. All right, cool. So just starting out then. Yeah, that's a big swing. Do you all do you all do any giving as a family we do we do we we've uh we're more kind of hit or miss we try to give to the church and uh and when then we look for projects and uh like we give to the children's

hospital and uh those kind of you know one-offs-offs. Yeah. Kevin, tell me this. None of us are perfect, and we've all done stupid. Lord knows I've got the hat, the T-shirt, and some flip-flops at some times. But tell me, what was the dumbest thing you did with money? Okay. Dumbest thing we did with money? We just got married. My wife and I have been married 30 years.

We were 22 years old. And I financed her engagement and wedding ring to the tune of $375. We had just gotten, landed what we thought were pretty decent jobs. So we bought two brand new cars. And we had maxed out our credit card, which was at that time only had about a $500 limit. And we had $600 on a Texaco gas card. And we looked around and said, this is no way to live. This is ridiculous. And so that was probably the stupidest thing we did with money. How long did it take you to pay off that ring?

I want to know. How long? $375. How long did it take? 24 months. Oh, my goodness. 24 months, and that was back, I think we had, that was one of our worst years. I think we had a $38,000 income, and it took quite a while.

Wow. That's funny. Well done. So what advice do you have to the 25-year-old version of you that's listening? Well, the first thing is debt- don't go into debt and that's if i'm if my if i'm talking to my 25 year old self and you're looking at that truck in the dealership leave it alone walk away good run actually run away run yes yes. Way to go, you guys. We're so proud of y'all. Very, very, very well done. Excellent, excellent job.

Anna is in Philadelphia. Hi, Anna. What is your net worth? Hi, Dave. My net worth is $1.03 million. Okay. Very cool. Give me some categories and break that down for me.

Sure. So in cash, I'm about $60,000. Investments and retirement, $875,000. And home equity, about $100,000. Okay, cool. Got it. All right, good. Good. How old are you?

I am 47, and my husband is 50. Cool. And how much of this $1,000,003 did you guys inherit? Absolutely nothing. Zero. Okay, cool. Zero, yes. What was your best year of income, household, since you've been married and get started all this stuff, or since you started adult life, and your worst year?

So the worst year was the first year we were married, which was about $50,000. And this year we're projected to be at $300,000, which will be our best year. Excellent. What do you guys do for a living? I am in HR management, and my husband's in IT management. Ah, very good. Okay, cool. Very cool.

So you guys both got degrees. We did not. Oh! We actually only have high school degrees. We did go to college, but we're the statistic that dropped out and had tons of loans when we got out. Wow. Wow. And you got there anyway.

Great job. So proud of you. Seriously. Very, very well done. Congratulations. This is the first time this has happened in the entire hour. It really is. We'll see when we talk to one more.

But we're not a single high school or college graduate. Not had a graduate yet. Very unusual hour. Yeah, it is. This is the Dave Ramsey Show. Our Scripture of the Day, Habakkuk 2.3, For still the vision awaits its appointed time, It hastens to the end, it will not lie. If it seems slow, wait for it.

It will surely come, it will not delay. Steve Jobs said, The only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. It's an Everyday Millionaire theme hour. Chris Hogan, Ramsey Personality, is my guest, or my co-host today, rather, here on the air. And we're taking questions only from, or not questions, we're interviewing actual millionaires.

Do you have a net worth of $1 million or greater? Joanna is in Phoenix. Hi, Joanna. What is your net worth? It's $1 million. And some chai, we just made the goal like this week, so let's say $1 million. Okay. Excellent.

We'll just call it even. It's just a lot of numbers here and some change. So let's just call it one. We'll get one of the nickels out of the corner of the couch and get there. I like it. Congratulations. Way to go. You're a millionaire.

So break it down for me. What are the categories and what amount in each category so we have um our house we um we did the debts we did the debt free um screen back in 2016 say everything and we called you four years ago we have our 401k how much is the house worth um being very conservative around 300,000 okay and how much in the 401k um 472 with 704 okay and how much and what 223 000 and we have um what else i have a piece of land that my dad gave me when i was 17 so that's around 45 000 how old are you now? I am 39 years old, and my husband is 44. 39. Awesome. Very cool. So how much of this million dollars did you inherit?

You got a $45,000 gift from your dad. It's land. That did not make you a millionaire. Did you inherit anything else? No, just that. Okay, cool. Where are you from? What's the accent? I am from Puerto Rico. Okay, all right, very cool. How long you been in the States or mainland? I moved here in 2005. Okay, excellent, very cool. And so what is your best year of household income as adults and your worst year

of household income as adults? So the best one is this past year that we both combined did around $200,000. Excellent. We have only been married seven years, but we were lucky to start your FPU in 2014. So we were married in 2013 and then 2014. We were blessed with taking a class. And since that, we have been telling people like, you need to take this class, you know, like I wish they make it that prerequisite. Like 12th grade, like you cannot pass 12th grade into college if you don't take this class. That's right. Joanna, what are your careers, you and your husband? So I'm a FedEx account executive for the last 14 years,

and my husband is a commissioning agent for around the same time with his company. Got you. And do either one of you have degrees from college? I do. I have a bachelor's degree and a master's and my husband um he has two years in college but the job that he does he's not an engineer but he has take a bunch of certifications for what he does yes ma'am so what's your what's your master's in advertising but I mean sales wow good for you excellent well good for you guys you did it i'm

so proud of you not only you pay off your house but when you did your debt-free scream i told you someday you're going to be a millionaire and now you're calling in on an everyday millionaire theme hour yes yeah i was counting the pennies um since that we bought a truck in 2018 we paid cash. So it's just like a game changer. It is a game changer. I wish I would take your class when I was 20, but it's okay. No, listen to me. I am proud of you. You're impressive.

You guys are very impressive. Very well done. I'm very proud of you that you guys not only paid off the house, but you stayed the journey. And that's amazing. Don't go backwards. Don't let your guard down. There's stupid amazing right don't go backwards don't let your guard down they're stupid out there around every corner don't let your guard down yeah way to go joanna thanks for calling in we're honored to talk with you excellent excellent excellent okay

that's a record we have never had an entire hour of everyday millionaires no wait a minute i'm sorry it's not a record she broke the record she broke it so yeah i don't think i've had an hour where only one was a college graduate. Just one. And so not that college is required. No. We just see it show up a lot. Oh, yeah, absolutely.

And then to not only have that, but you have a couple that dropped out of high school and immediately started working. We've got sanitation workers. We've got a commercial fisherman, hair salon, secretary, construction, aircraft mechanic, secretary, management, IT management. Stay-at-home mom. I mean, you see this, and you guys hearing the range of incomes, if you paid attention. There were no $500,000 incomes. No, no.

There were no $400,000 incomes. The highest was $300,000. Yep. Yep. They were maxed out, and what we found is an amazing number of millionaires never made over 200. That's right. In our study, we found that. Right.

And I actually did not anticipate that. No, I didn't either. I thought there would be a correlation, a higher correlation to income statistically than we actually found. What we found was a higher correlation to common sense. That's exactly what it is. And being intentional, being hardworking, setting goals. Believing you can.

The 97% of the million in this study, this fantastic invigorating study, 97% of the millionaires believe that they control their own destiny. Hear this. And the public. It was 50. It was 50 to 60 percent. 64 percent. Yeah.

And so it just goes to show that what we think, right? Matters. It matters. And what you believe and what you're striving toward. And I just I love seeing the array of careers. I love hearing this because, again, people, society wants you to believe you can't do it. And we've got to have a victim mindset

we got to blame somebody if we're not where we need to be and that's just not true everything let's be real clear this is not just aspirational motivational speak no um this is the largest in-depth research of millionaires ever done in north america and the research methodology is freaking air tight yes we had an outside research firm look over our team's shoulders because we knew we would be criticized by the lefties who want socialism to be the answer because they're out there poised at any moment to try to turn something into socialism they can't stand someone They call me a boomer bootstrapper, which is both actually true. Right. So I'll take it.

You know, it's fine. I'm a boomer and I'm a bootstrapper. So shut up. Yeah. And first of all, we didn't talk to 100 people. Okay. First and foremost, you'll see these studies in the newspaper where they talked to three people and wrote an article.

Okay. Don't come at me with that crap. All right. We talked to over 10,000 of them, 10,000 meters all across the country. It got so big we used a research firm to help us because we wanted to dig into the truth. And so this is what it is. It is possible. And the interesting thing was, too, we also set up a double blind on the thing where we said, okay, I want to study Ramsey tribe and non-Ramsey tribe.

People never heard of us. Because we knew people would say they've heard of you and Chris, of course. You know, you're just trying to promote your stuff. And so we did both. And we had over 7,000 of them were non-Ramsay tribe and about 5,000, 4,000 of them were Ramsey tribe. Yeah. And here was interesting.

Very little difference. Yeah. Very little difference. Yeah. So I just, again, out there, I know a lot of people are going through a tough spot right now. And you begin to look and you start to think, we all know the sun is going to come back up. But what we do next, right? It's less about what you have done.

But what you do next really determines the path you go down. And not touching your 401Kk leaving that money alone being intentional finding other ways that's the true path you know this is your never again moment america yeah and everyday millionaires are going to happen because of covid that's true that's exactly right you're in the plexiglass business you're probably going to be a millionaire you know it's just that simple my gosh can you think? I never thought I'd see so many windows in my life. There you go.

Masks, rubber gloves. There you go. Something like that. Wow. That puts us out of the Dave Ramsey Show and 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.

Dave here. We just launched a brand new survey, and we'd love your feedback. You'll be entered to win a $100 Amazon gift card. No purchase necessary. Take the survey at DaveRamsey.com slash survey or text survey to 33789.