This man has changed so many lives thx you for help and services over the years

He also demonstrated that when you have no debt and a lot of money, you can take advantage of misfortune like 2008 housing crash and buy a lot of property cheap. That’s why being out of debt and have opportunity money is so helpful.

Just wanted to say thanks to Dave for making all these videos. I am 34 years old and my wife and I just paid off our house. Every time I wanted to buy something with a motor I would watch a video and it helped me stay focused.

Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals

I’m about to go broke so I’ll be half way there soon!

If you want to be wealthy follow the baby steps. If you want to get rich start a business that give people tremendous value and accelerate the baby steps. That is what Dave did.

Dave had not developed the Baby Steps yet. He did start by paying off debt, living like no one else, and stockpiling his earned income, which is the foundation of what later became part of the Baby Steps.

The first million is the hardest needs to be researched further. I have heard so many stories on how it took 30 years to get to that first million. Then from $1 to $5 million took a decade but by then all the processes and experience is already in place. Notice how Dave has been in real estate forever and even went bankrupt doing real estate but in the 2008 when real estate crashed he said he was able to purchase $100 million in real estate for $15 million. He could only do that because he had the cash available from those previous mistakes and he knew in 2008 with his then income and being able to pay cash for the properties it was a good investment.

Too many people are missing the fact that Dave tells people to follow baby steps using their job and make a couple million by the time they retire; when Dave actualy got rich selling his advice.

I really enjoy that Dave talks about his experiences. I find it very insightful and motivating. I hope the other personalities will pick up this trait. Love the show!

So Dave had about 20 million to his name in 2008 and now he has over 200 million. Good for him.

Been following Dave for over a decade. On baby step 7. Thank you sir, from the bottom of my heart, thank you!

He owns millions of dollars in real estate. Tells you how he did it very vaguely as far as real estate. Earned it off of books, radio, and other forms of media. Awesome guy. Trying to paying off my home now.

Wow, finally a question that we haven't heard asked 169 different times, I always wanted to hear the story of how he came out of bankruptcy at 30 years of age and became a millionaire supposedly without borrowing any money.

I would love more videos like this. Yeah it’s fun hearing you give advice about how to get out of debt but so much more interesting to hear your stories

The first 100k is probably the most difficult for many of us , from there yearly aprecciation/ returns move you at a faster pace i feel imo

So Dave Ramsey was wholesaling Real estate. Got it.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

He didn't do it delivering pizza. It was selling common sense.

Imagine making so much money that it’s hard to remember how you made your first million…..GOALS

Dave was an og wholesaler

$1000 dollar emergency fund and six months of saving in case you getting layed off or fired are truly best advice i can give anybody

i always was curious how dave rebounded. so glad he shared the story. thank you

Secret baby step "Make income spend nothing repeat"

Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in stocks that will align with my risk tolerance and financial goals

He definitely did some shady stuff lol struggling to not say too much but its all good! Get after it Dave!!

I'm not so far behind Dave. He's working on his second hundred million and I'm working on my first!

Everyone: how did you make your first million Dave: I made deals

Having listened to so much of the show as well as all the EntreLeadership material, nice to hear one more story! Keep telling them Dave! I use and teach all of what you do.

The only thing I don't understand is why the $1000 emergency fund hasn't been updated in all this time. It might have been perfectly adequate in the 80's and 90's, but these days you can't fix a broken down car for $1000, let alone buy another one if it completely craps out. A furnace for your house is thousands of dollars. Even one paycheck's worth of expenses while you transition to a new job or apply for unemployment is more than $1000.

Thank you Dave Your teaching has changed my family’s life. Our house is paid for, we are debt free building a great nest egg for retirement Now our adult children are working on doing the same thing

Dave built himself back up with real-estate after bankruptcy? He needs to elaborate in detail on how he made this possible. What does he know that other realtors don't? Realtors are a dime a dozen and most are not rich by any means.

What made Dave a millionaire again: Real estate and radio What DIDN'T make Dave a millionaire again: The Baby Steps

Dave made his money selling people common sense. He’s brilliant. He took the money he made selling people common sense and then invested it and made even more millions. Lol

Was expecting him just to say “beans and rice, rice and beans”

You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller

This is a wonderful interview! Dave’s history is worthy of a movie

So far what i heard is "after I went bankrupt a returned to real estate. I eventually started making 100k a year. Then i started another business in radio/advertising where i was losing money" however I didnt really hear everything after that. So either he saved for 10 years + to get a million or he substantially increased his income but it wasnt through real estate. So it must have been when he started selling financial peace where the money started coming in. So what lesson do we learn kids. Eventually your income will probably cap out at your job. So you to make it into the multi million category, you need to start selling a product people will use on a large scale. In Daves case, His Financial peace University. Of course you need to have money in the bank to do that.

I respect someone who has become so successful that they don’t remember how they made their first million.

Most people get where they ae because of family or a "buddy".

So, these 9+ minutes seemed to get off the question... and even the question was unfairly worded... because he tells you that he was "dry-flipping to a friend"... he was leveraging his existing network and wholesaling real-estate. What i want to know is how long did it take for him to earn his first million and (specifically) how did he do it? Was it one big deal that worked out? Or, was it several years of $100 per month...?

I was waiting for Dave to say that he followed Robert Kiyosaki's example in real estate investing. 😉🤣

I recommended to hey sometime ago,can I get person who invested with her Mrs Camilla mc Coy comment below

Thank You David Lawrence Ramsey III for changing my family's life and Mine and the way we view New Vehicles GOD BLESS YOU!

Dave looked nervous answering this question . im sure he used debt but doesn't want to say it lol

so just like every other guru he made his money selling a course on how to make money

So went from bankrupt in 88 to a six fig income in 89, I'm literally living in a different universe 😢

Dave thanks for showing us how to get out debt and stay that way

That right Dave! hard work. He has a series of tapes called the commuter series it comes with his audio book version. He goes into detail about the struggles daily he went through to build his wealth. So shut up about this man. He's proof!

I am so happy he didn’t quit on his dream and the radio show after his first year cost him half his income!!!

He started wholesaling/ assigning contracts

The $1,000 came from Larry Burkett whom Dave never credits. The purpose was to cover those Emergencies but why only $1k? Because back when Larry was starting out that $1k covered most all insurance deductibles and often still left money for a tire and groceries. The principle still holds true today. If you have an emergency, use the fund to pay for it, stop all extra payments until you rebuild the $1k fund, then go back to attacking the smallest debt - which I believe was another staple of Burkett’s teaching before Dave even went bust.

Seems like he made that up

So how did you make your first million? Dave: "Good offense and great defense." That is how we did it too, but we never went to rice and beans. For me it was Kraft Mac and Cheese which was $0.25/box at the time....

You may have made less to begin with but you affected more people, how lucky we are, God bless!

News headline will be "Dave Ramsey didn't follow his own baby steps" 🤣

Just say it Dave. You sold your books on how to not go bankrupt.

The irony of the no debt guy cleaning up and making millions off of people who had over-levered going into 2008.

The definition of a Recession means that your Neighbor lost his house, job,and car. The definition of a Depression is when YOU loose your house,job, and car.

I think a lot of people miss the point. Its not just about being rich. Rich is relative if your heart doesn't change. It's about working hard. It's about peace and being a good steward of what God has given you.

My favorite Dave Ramsey answers are ones that he has to wrestle with a little bit to answer

Love the raw stuff!

Very helpful to hear Daves story

Dave is like the IG scammers. He sells nothing. He charges you to tell you how to save money lol!

Over 100k in 89 is pretty huge.

His parents were real estate developers...

Wonderful Flashback! A learning experience.

Bible also says "pay to Cesar what belongs to Cesar". Meaning, use the tax benefits when legal. Live within your means or below. Be giving, kind and loving. You cant help others in their boat when you boat is in the brink of sinking.

So Dave became a millionaire through selling his program. Nothing wrong with that.

I left Paying off the house off the list, because i like to see money in my account😌 but Paying off other debts is soo satisfying.

Thank you for sharing this. Become a millionaire once, then you can totally do it again!

He sold a bunch of books on how to make your first million lol

So Dave never really did the baby steps. Gotcha!

I agree with the real estate but you can also build wealth with high ticket sales where you get 5-100k commissions.

Sounds like he picked himself up by the bootstraps, worked those four jobs, delivering pizzas.

I am listening to a man speaking about how many mistakes he made in life and not to be like him

So Dave went bankrupt flipping real estate, then made his first million afterward by flipping real estate contracts.

Love this one! Good to hear.

For the most part I agree with much of what Dave says but where he suggests if you are broke your first dollar should go towards an emergency fund instead of a 401k when an employer match is on the table doesn’t add up mathematically. He’s worried about a 30 or 40% penalty if you have to access your 401 early when there is a 100% penalty for not getting an employer match. In other words if I contribute $1 to my 401 and my employer matches $1 I now have $2. If I need to get my dollar out then I lose 40% of that dollar but I still have $1.60 compared to just having $1. Point is get your employer match

I loved hearing this

Great question very informative 👍

He inherited it when his parents passed away they had gave him left him with multi million dollars worth of real estate

Dave never said follow the baby steps and get 300 million like me. Following the baby steps gets you to be a everyday millionaire, nothing fancy, not super rich. Freedom with finances. If you want to get super rich you need to do more. The difference between Dave's advice and other people's advice.... This is not a get rich scheme or some scam. This works for nearly everyone and it gets you to financial freedom.

Sounds like he was wholesaling real estate. I do the same thing I’m a licensed real estate agent in Illinois. We put property under contract to sell and flip the contract to another investor.

So Dave made his first million by starting a business and becoming a syndicated radio host? Sounds like a plan!

I really love this story! Often times the DR comment section is just riddled with "Dave, you just don't get it", but the fact is, he does get it more than nearly anyone complaining about it in the comment section! Her just uses logic and Biblical wisdom instead of emotions and feelings.

Made it by not taking your own advice. LOL!

If you listen to one video and make up your mind, you'll miss the big picture. The principles are a guide, its about changing mind, attitude and spending habits.

Love how he broke it all down.

He basically did real estate selling houses lol

Dave won the Powerball lottery, that's a little known fact!

He probably should have gotten out of the advice game after losing everything. Consider the gall of a guy selling books on money not long after being broke because of bad decisions. Ok, I get that he learned some lessons, but most of what got him out of the hole was the advice business. Seems a bit of a fraud to me.

So, real estate. That's what it all really comes down to. Real estate, where people can and do make absurd amounts of money. Plus not overspending or going back into debt.

Thanks for sharing

Would love to see more videos about this topic. I am getting close to hitting a million dollar net worth. Hopefully this year or next year I will finally cross that number.

120k in 1989 is what, 300-400k in today's dollars? More, considering how much housing and food have gone up? So he was making money absolutely hand over fist. That's how he did it.

Dave is Basically a "KZfaqr" at that time KZfaq was a radio show. Basically He is old version of what Meet Kevin is today

Great video!

The one thing I don't mind debt on is a vehicle. When you look at the life of the loan and how much you pay in interest. It's really not that much. Not like a house where you pay double the mortgage.

I love this episode. At can see how the man lived it.