You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

My youngest son is a master plumber, went into a four year apprenticeship…worked 40 hours while doing the school part…no student debt, lives frugally and saved all his money, Owen’s his personal vehicle and work van outright. He is 30 years old, started his own business and is getting ready to purchase his first home with a small mortgage and purchase a small fixer upper with cash to use as a rental property. His father passed away the month after he turned 13, did all this on his own. Don’t say it can’t be done. Hustle!

I’m a dentist. I’m rich. I know a lot of broke dentists tho. They all drive better cars than me, live in a bigger house than I do, and have a LV bag. They talk about student loan debt like it’s a fact of life, mine is paid off. It blows my mind how bad my colleagues are with money and the poorest one I know makes well over $100k/year AFTER taxes. They have NOTHING to show for it. They made fun of me for aggressively paying off debt and driving a RAV4

In my area buying a house was a no brainer. Rent went up to 2500 a month for a small 2 bedroom. A house that was once worth 200k is selling for 400k. My wife and i spent 8 years saving everything we could. We stopped going out. We stopped eating breakfast for christ sake. And finally someone took our offer and we moved into a home that had a mortgage payment lower than avg rent in our area. Now. What weve done was a great achievement, but still....in this greta country it shouldnt have been as hard as it was. We have to stop this big companies buying up property for airbnbs

"if you're an engineer there is only one way to do it" spoke like someone who hasn't met any engineers lol

1. Engineer 2. Accountant 3. Teacher 4. Management 5. Attorney

The reason there are more engineer millionaires than doctor millionaires is that there are way more engineers than doctors. But he’s right about the process mindset.

My wife and I took Financial Peace University prior to getting married. In June we will be married 16 years. She is a teacher and I am in sales. Paid off home. No debt. The house is worth $850k. And we have close to 900k in the market. It can be done. We are ordinary people. And live in a high cost of living area. Paid off the house 11 years 4months. Still no debt. 44 and 38 years old. It can be done.

Great video, Alot of the millionaires are heirs. Real selfmade millionaires are investors . And there is nothing like luck but taking risk and timing included. And you need a some education. To become a millionaire by yourself should not be a goal (depends on country) because its just out of reach, i pray that anyone who reads this will be successful in life too 🙏🙏

I don't often like Dave on his own show, but this was a good episode. It's probably good for him to be the one getting interviewed once in a while.

House we bought in 2013 for 600k up a million now. Florida crazy. Just paid it off.

these days grifting seems to create the most millionaires.

Don’t forget that a million today was only 250k in 1980. A million isn’t what it used to be

Dave Ramsey is a realtor.

I’m a machinist. I worked internships in high school that lead to me finding an employer that would pay for my college. That employer also put me through an apprenticeship. That apprenticeship allowed me to advance myself in my machining career and become an adjunct instructor at the college that I graduated from. I worked days as a machinist and nights as an instructor. My house is paid off, I max out my 401k, and I max out my ROTH IRA every year. You’ve got to work hard and save if you weren’t born with the silver spoon up your butt. Invest in yourself and learn a trade.

Theo and Ramsey? I never expected this one

"You shouldn't steal people's hope man, that's evil" - great fucking quote

I can say from experience he's right, I started from scratch and I got there but I had to follow the process.

Love dave, great episode

First-time home ownership is over especially in Tennessee. We've realized we'll never own our own home when "starter homes" are 350k at 8%. We've put in 77 bids over 4 years ALL outbid by cash offers.

Pilot definitely should be in the conversation.

This is a Collab i did NOT see happening

Dave's shirt is holding on for dear life

I am and engineer and the ones I work with along with me we all have similar mindset so it’s not suprising it’s top5, but putting my engineering ego aside (it’s huge), to the defense of doctors and lawyers is they are underrepresented in the population. I I would like to normalize the data to see percentage of careers/professions that are millionaires.. that may help those fields quite a bit since my guess is there are more engineers?

Air traffic controller here. Will retire at 56 worth around $2m, assuming no major emergencies.

I am an engineer following his plan 😂. It makes sense now to me! I NEED the process and guidelines of his plan. I also found a 12 step program in recovery has healed me more than any therapy! Now it all makes sense.

“42 and has a home paid off.” This is 2024 and most people who are in their 30’s now will be lucky to even be paying a mortgage on a home when they are 42. That in itself is a big achievement considering how much further the goal posts have been moved in recent years. Ramsey is right on some of the things he says but he is seriously out of touch.

that jacket toiiiight

Theo; "How do you come upon these millionaires?" "The same way you come on thousandaires."

My wife and I amassed over 2 million dollars between our home and 401k. I’m a construction worker in my mid 40’s. I’ve been investing in my 401k aggressively to the point that I’m almost living check to check but I do enjoy watching it grow.

401k's are great. If your company offers a contribution match, you're instantly doubling your money, it doesn't matter how much you make to start leveraging that early.

Engineer Accountant Teacher Management Attorney

With the 401K guys I wonder how much they were making a year. Likely wasn't 30k.

I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?

ive met a handful of well off people working my in peoples houses with my business. they come in all shapes and sizes. the richest man ive met started out as a house painter, was eventually building houses all over canada under his own company. dude had a big ass crew for like every trade

I don’t think it has anything to do with processes, it seems like a doctor would have much more process to follow strictly than many of these other careers. Maybe it’s more about the upbringing of those people who choose these careers, I would think that many doctors came from a somewhat wealthy family and therefore didn’t learn how to be frugal and save what they make, also seems like the top four of these careers are somewhat lower cost to entry which attracts the type of people that are being smart and frugal with their money. I’m sure there’s more to it too

The reason for so many millionaire teachers is because 75% of them are female and just naturally married men who make a much better salary. They kinda have to with how little they make. So that data is kinda skewed. I'd like to see the data on millionaire teachers who are the primary breadwinner.

Time and compounding is the key. If you invest $800 a year in a Roth in S&P500 starting at age 18, you will have $1M by full retirement age. Exponential growth (compounding) is a crazy thing that the human mind isn't set up to readily understand.

These are VERY braod categories of professions. Chances are these millionaires are people in very specific niches of their field that pay very well. Ie, engineers = computer science, teachers = tenured professors at large universities, management = directors & c suite.

Learn a skill, work as much as you can, have low expenses, don’t keep 100% of your money in a bank reinvest in your skill. If you have people around you that don’t give you support find people that do.

Keep this going Theo

Teachers also get an incredible benefits package, and never have a chance to get deep into medical debt. Is that helping to keep the average teacher above other professions that may make significantly more in wages?

Never thought that these 2 would be do an interview. 👍🏾😎 the irony is allot of teachers marry engineers

Study done in 1982…..lol

2:10 Where's family construction businesses? I work with quite a few millionaires (on paper) who are just contractors. Sometimes doing additions, sometimes houses, sometimes odds and ends etc. And they just have a dozen plus sub-contractor relationships over the years and one or two main crews. Heck of a lot of work though. And you got to start the bottom or it'll never work.

Not sure if it’s touched on later in the conversation. Hopefully they talked about age. It’s not about getting a job at 25 then being a millionaire at 26. Time and process.

My cousin is a public teacher in Northern Minnesota. Town of 300 people. Slowly but surely, buys properties.... gets to 50 some doors and retired at 52. One of the wealthiest dudes I know.

Being born into a real estate family and selling idiots on finance tips that all require you to be middle class to begin with seems like a pretty solid racket.

I get what he’s saying about owning a home and 401k - it’s good advice but not perfect. Maybe you’ll be a millionaire when you eventually sell your house and assuming your 401k did well enough. Maybe you’ll have a million plus, but will that be enough to live on however many years down the road ? When you sell your house that you live in for a massive profit ( assuming that’s still an option ) where will you live ? Buy a new place ( at the current market value / take a huge chunk of that profit ) or rent ? If you stay in your house as long as possible, you’d maybe be a millionaire on paper, but a huge chunk of that is unrealized so you’d really be living off the 401k and social security assuming that’s not completely bankrupt by then. Still way better to have the house and 401k vs. nothing, but not the automatic win for retirement.

The sad part is that $1 million isn’t very much anymore

sales too you can make a ton in sales

I SEE YOU

How is teacher on the list?

Rule 1 never listen to a man that tries to get you to pay for a course that makes them millionares

I work at a school. Many teachers make close to 6 figures and are super super cheap.

He didn't tell us whether there might only be more of people in those occupations than in the overall population.

It should be on per capital… it makes no sense cause there are way more teachers/accountants than doctors

LETS GO THEO

Paid off a 600-700k house with that much in your 401k at 42?! Wtf? Guy had to be making 100k+ every yr for 20yrs for that to happen. That only happens for 1-2% of people, and not because of a lack of motivation.

Love that throwback UK jacket 🐱

Let’s not forget to mention that being a millionaire isn’t making you a rich person anymore.

Those teachers were from NY that retired to Florida then became millionaires 😂

Theo often plays footsies with himself, putting one shoe atop the other, and Ramsey does the same thing lol 03:48

"You shouldn't steal people's hope man, that's evil." You shouldn't turn a blind eye to the truth, Mr. Ramsey. Carlin even said you have to be asleep to believe the American Dream. Just because Ramsey was able to reach wealth doesn't mean that everyone else has the same opportunity. He assumes life is fair or something.

truckers do good too , i truck , the challenge is to get out of the trap of working paycheck to paycheck and feeling hopeless so the little money u could save u spend on stuff or weed or beer , the way out of the trap is learn something that the worlds in demand of like truckers or teacher or plumber etc but the secret sauce is to find something u like

He makes it sound so easy like we all can afford a 600000 home and save that same amount by 42. Hell, engineering degree's ain't cheap. Also One million ain't what it used to be either.

People think millionaire means million(s) in the bank account ready to go

This made me so happy 🥰

Buy a $1 million house and pay it off and now you're a millionaire.

"Sell everything you dont need including your family pets, stop spending money stupidly, oh and buy my stuff." -Dave Ramsey

Strange combo

Teacher? Yeah, if you count becoming a millionaire by marriage.

I’ll always say it Americans have spending issues not earning issues. Now I’m not saying the quality of life compared to earnings hasn’t fallen. I’m just saying most people want to enjoy their money and others will sacrifice to have money.

Recent study showed 94% of viewers were Dave ramsey fan.

Investment bankers aren’t on the list ?

Doctor's aren't bad at managing money, they have to spend $500+k in student loans, and postpone getting a real paycheck for 7-12yrs. My nephew just got accepted to dental school and his tuition alone is over $100k a year. Our educational system is broken. It doesn't cost 20x as much to educate a dentist as it does an engineer with a 4 yr degree.

I grew up next to a millionaire. He got his money through selling fire wood. When people used wood to heat their homes. You wouldn’t know they where millionaires. They didn’t have children. Everything was very well kept. Even the lawn mower was 20 years old looked like it was purchased that week. The only thing that he did that would let you know. When he went to the bank. He didn’t go into the bank. The manager would come out to his car with the paper work and it would be done there. The other thing is when he passed the family member that you never saw where there like vultures. His wife had a heart attack/ stroke waking up next to him after he had passed. His brother found the will. Will got destroyed. Making it so he would be in charge.

I didn’t think your primary residence contributed to your net worth, I always thought the technical criteria to be classified a millionaire was to have a million dollars in assets minus debt and or cash on top of your home irrespective of its value.

Being worth over a million dollars imo isn’t a millionaire, making a million dollars a year is what makes you a millionaire. Difference in the definition but does anyone else think of it the same as I did?

So, does anyone else hear the same thing in the same style every time Dave "speaks"? lol.

I’m a pilot and make bank. Cant believe we didn’t make the list. Oh, and I didn’t waste time getting a degree, not necessarily to be a pilot

I wonder what type of millionaire is most common for the younger generations. What worked 35 years ago to make the most millionaires today is not gonna work today especially with homes as the average American will never be able to afford a home.

Sure, just make sure you are lucky enough to buy that house while it was affordable then ride the crazy jump in inflation that happens every 50 years.

Didn’t realise engineering was so easy - just follow that one way to do it

IMO: Easiest way to become a millionaire is to start a business and grow it to $200k profit. Then you can sell it to an investor for 5X earnings.

I agree with home ownership but your primary residence does not contribute to your net worth because it's not an asset it's technically a liability.

What Ramsey and many don't get is if the dollar collapses, your 401k, Roth IRA etc go too. Anyone buying a house right now with a mortgage at 7.5%, rising property taxes, insurance etc is absolutely silly. Dave saying teachers who make $33-45k (most) a year right now with the price of everything sky high have the "secret sauce" in becoming a millionaires is silly. Even two teachers making 90k a year will be broke just living.

Sounds like the person with the most money at the end wins. Ridiculous.

Has Dave heard Theos comedy?

Makes no sense to me lol😂 Teachers above doctors and lawyers

Teacher? Lol ok

It's easier than most think....

Home ownership? Lmfao, in Canada that will never happen anymore…. We’re giving up over here.

Hes not talking about making a million. Hes talking about retiring as a millionaire, with only a million, that will be taxed heavily when you do retire

Psh, buying a house is simple. Especially here in California… before y’all say move, I would love to but I’m working overtime on my mental health and I need the support system I got here. I’ll figure it out though. Just don’t give up amigos

Save more thean you are spending.

All this study proves is that things were pretty good. But we know that. Now homeownership is out most people’s grasp.

A net worth of a million is not a millionaire let’s be honest. There is a huge difference between someone with a million in cash and someone who has things that are valued at an amount

The Dave Ramsey method will make you financially free. You may become a millionaire along the way.

That one button is working hard.