How to Get Rich [Full Interview with Dave Ramsey]

Рет қаралды 1,023,518

8 ай бұрын

Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbitl in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.

Пікірлер: 806

@jasperdemuynck 7 ай бұрын

Dave got me into personal finance at 6 years old, I am now 9 and a real estate mogul. Forever grateful. Great episode.

@chriskirksey 6 ай бұрын

😂

@BuddyGorey 6 ай бұрын

😃

@haydenmills6464 6 ай бұрын

😂😂😂😂😂😂😂😂

@patrickharper9297 6 ай бұрын

Wow… you are huge for a 9 year old 🫣

@Eskeeter03 6 ай бұрын

@@patrickharper9297he's more than likely born on the 29th of February

@ER-pc3dx 8 ай бұрын

I grew up in Nashville and fondly remember listening to Dave yell at people on the radio. I love that dude.

@beverlyochieng6076 4 ай бұрын

Lol

@vanessamartinez6760 3 ай бұрын

I want to visit Nashville so bad

@wpelfeta 2 ай бұрын

Oh lol I just realized so many finance channels are based out of Nashville. haha. The Money Guy show is also from Nashville. And I guess Alex is too if he went to Vanderbilt.

@LOLZHAHANOTFUNNY 8 ай бұрын

Dave kept me from wasting my 20s in an aimless, self indulgent cloud of prolonged childhood. I'm 27, I'll be quitting my job to stay home with my child soon and it's only because Dave promised me that debt is servitude to a careless master. All adults in my life have let me down in the area of personal finance, but Dave has been there for me since I was 18 and handed me a map and promised me it was somewhere I would want to go. And he was totally right. 🙌💕

@Dylan_Marshall 8 ай бұрын

That's really cool I'm very happy for you!

@DavidRoetman 8 ай бұрын

Same here!

@ShermanWilliamsVideo 8 ай бұрын

I met dave in my 20s and quickly realized his books only apply to people who already have money. If you are poor with no resources focus on making more money and don't worry about debt. Dave's plans will not help you until you increase your income.

@LOLZHAHANOTFUNNY 8 ай бұрын

@@ShermanWilliamsVideo I've heard that argument too, like "I don't budget because I make only enough money for essentials" but that is exactly the person who needs to be budgeting. And Dave goes over career development, side hustles, limiting housing and food and transporation costs to put as much money as possible towards debt. My husband and I were making very little money when we started but Dave's plan gave us a clear map for every pay raise and life change. Having a plan at all is preferred even if you're walking slowly in the beginning.

@Spark_MTB_BMX_Coaching 8 ай бұрын

@@ShermanWilliamsVideo please explain why you think that.

@DavidRoetman 8 ай бұрын

I paid off 110k in student loan debt the other week all thanks to Dave teaching me through his free podcast. I’m forever grateful.

@annierosesmith6504 8 ай бұрын

Im confused. Couldn’t you have used that money to start a business or buy real estate?

@DavidRoetman 8 ай бұрын

@@annierosesmith6504 I could have but there is risk with that. Small risk but still risk. Renters don’t pay, bad tenants, etc. if that would of happened then I would of had 2 rent payments (mine and the tenant not paying). Which could lead to serious problems on my end. Plus I just sleep better knowing I don’t owe the government.

@avaceleste 7 ай бұрын

Way to go!!

@skoolie_life3261 7 ай бұрын

Congrats! That too hard work and dedication. I’m sure it was a huge relief!!

@levibeam100 2 ай бұрын

@@annierosesmith6504Number 1, banks don’t give big loans to people usually who already are 100k in debt. 2, he just finished paying it off, he didn’t drop 110k at one time

@samthiel4315 8 ай бұрын

I love that y’all were able to get together. Dave introduced me to personal finance at 13, Graham introduced me to real estate, and Alex has introduced me to business. I’m so glad that I’ve now gotten to see all of them together and would love to see a triple crossover next time.

@wpelfeta 2 ай бұрын

What I like about Alex is that he talks about the business side. Most finance channels focus on wealth accumulation, saving, and budgeting. But Alex doesn't sugarcoat it. If you want to be wealthy. Like wealthy wealthy. You need to use leverage. There's no way around it. Being a diligent investor and budgeting might make you a millionaire by the time you retire. But to become outrageously wealthy, like a decamillionaire, you can't be selling dollars for hours. It's definitely an interesting niche and not for everyone. Most people are probably fine with reaching financial independence on a normal income. But I find the idea of scaling into something more to be very inspirational.

@PatrickLloyd- 5 ай бұрын

Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.

@PhilipDunk 5 ай бұрын

I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimize risks and maximize profits, generating around $3 million in three years with my advisor

@hankmarks69 5 ай бұрын

May I know the name of the advisor who has been assisting you in navigating these financial challenges?

@hankmarks69 5 ай бұрын

Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

@SurveyingStudy 2 ай бұрын

KINDA HARD WHEN FEDS PEINT MONEY & GIVE TO OTHER COUNTRIES.

@ryantiffany1027 8 ай бұрын

Ramsey follower here. When the wife and I went through FPU, we weren't in BAD shape, but we weren't in GOOD shape. We went through the process, and even though my wife was mad that, after the first class, I came home and paid off the credit cards and the truck, she got on board, and in about 18 months we paid off what equaled $64k in debt (which included a complete HVAC overhaul). We're now to the point that we're starting a business as a side hustle, with hopes to become a full hustle. That's how I found Alex. You guys are awesome and inspiring. An interview together? I had to watch! Thank you both for this. Keep inspiring. Responsibility and ambition aren't everyone's cup of tea, but you guys are and inspiration to a lot of good people.

@travelthis 7 ай бұрын

Congratulations 👏 these stories are so inspiring

@mother3crazy 4 ай бұрын

When I was six months old, I started investing 15% of my income into mutual funds and now I’m on track to have $762 billion dollars by the time I retire at 96 (I love hard work and hard work loves me.) God bless you David Ramzee

@Sam-yv3gz Ай бұрын

Top 10 comment for sure 👌

@nathan_mcleod 8 ай бұрын

I ACTUALLY can't believe that I am watching these two. Dave's Financial Peace helped my parents after their bankruptcy, and Alex is my #1 business inspiration on the planet. Weirdly emotional for me to watch. (Great content too obvi).

@Alexandrite-kl6ti 8 ай бұрын

Please get a life

@WesleyNysm 8 ай бұрын

Can fully vouch this, I literally only listen to these two... this was so sweet to watch.

@EdmundAlynJones 8 ай бұрын

I feel like my past and my future are on a crash course with this meeting of minds. God bless you gents! (And all the media staff)!!!

@Indy_rawr 8 ай бұрын

Really not a crossover I ever expected to happen

@designmy743 8 ай бұрын

Great collaboration! I watch both regularly

@TitaAnderson Ай бұрын

A crash and bullish market provides equal high-yield potential, it's all about information and strategy application, I've seen folks make huge 7figure profit in a crashing market and pull it off much easily in a bull market Unequivocally the crash/recession is getting somebody somewhere rich.

@Cammimullens Ай бұрын

On occasion you can beat the market with blind luck, but I wouldn't depend on it. Having a science background there is a saying, 'Luck favors the informed', I've found it to be true, allowed me in great part to retire early

@softy-bf5eg Ай бұрын

No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.

@marlisamirabal Ай бұрын

nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?

@softy-bf5eg Ай бұрын

ANGELA LYNN SCHILLING' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

@stevensmiddlemass2072 8 ай бұрын

Though dividend-paying stocks don’t offer dramatic price appreciation, they can provide a consistent income stream, I want to spread across $400k into profit yielding dividend equities but unsure of which to get into.

@Curbalnk 8 ай бұрын

Simply put, if you’re not investing in dividend stocks, you’re doing it wrong.

@SomeGrump 4 күн бұрын

Dividend kings and aristocrats would be my thoughts... though I'm broke and dumb ha

@Doracox22 10 күн бұрын

The rich are money minded. That is one thing I learnt from the start. I have always wanted to build wealth. I have set out $167k that I had been saving since 2020, and I want to put it in the stock market so I can grow my wealth. Any recommendations?

@Wendytsang12 10 күн бұрын

It is really good that you do. I know a lot of people who have made a lot from the stock market. But you need to spend a lot of time studying the market if you want to be a pro, or you use a stock advisor who really knows what they are doing.

@greekbarrios 10 күн бұрын

For real, people underestimate how much they can rake in from the stock market. Started with $127k just before the pandemic hit. Many people's portfolios tanked, but I rode through with my financial advisor, and even made more than $86k within just five months of starting, and it's been an awesome ride since then.

@Lewyn298 10 күн бұрын

People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.

@TylerofSc004 10 күн бұрын

I have not written this sort of comment before but from the your comment, I knew that you have good understanding of investing, How can one reach this advisor of yours?

@Lewyn298 10 күн бұрын

Kristin Amber Landis is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

@escueladeartesemocionales 8 ай бұрын

Having your idol talk to you with respect and telling you that he's proud of you must be an incredible feeling. You can see Alex is really happy about that little comment. Glad that happened to you, you deserve that AND more. Love the content.

@CharleswoodSpudzyofficial 8 ай бұрын

We are witnessing Alex showing how he consumes information from others. It's interesting to witness...

@coscorrodrift 8 ай бұрын

Yeah, I like him as an interviewer. Good balance between trying to learn something himself and also trying to make it valuable for the Acquisition audience

@zenlifetv4837 8 ай бұрын

Alex Hormozi being inspired by Dave Ramsey makes me respect him even more! Alex you are really out here helping the people. So many wealthy people demonize Dave Ramsey but he is here to elevate the common man for success in the least risk as possible and with integrity! Btw listening to Dave Ramsey got me out of $30k in debt and I paid off all my student loans before the age of 35. I have been debt free a little over 10 years,

@tigreytigrey8537 3 күн бұрын

ACTUAL wealthy people don't demonetize ramsy because they know he has a billion dollar+ brand. The people that demonize him are not millionaires themselves so it's out of ignorance.

@streakingclothed 8 ай бұрын

I love that Dave has taught so many to avoid being debt slaves.

@stanwilson7040 8 ай бұрын

Thanks to Dave and Hormozi's INCREDIBLE MARKETING SECRETS I not only avoided debts but became a MILLIONAIRE

@sunnybadgr5073 8 ай бұрын

@@stanwilson7040For real? How?

@Squirrel-zq6oe 8 ай бұрын

Dave Ramsey book Total Money Makeover was the first book that made me partially financially intelligent when I was 19 years old. I still use the envelope system to this day with my different checking accounts, and people always say that's so smart! And I just tell them I learned it from a book.

@realaijak 8 ай бұрын

Robert Kiyosaki:- Luv debts

@Sigmatic850 8 ай бұрын

@@Squirrel-zq6oeFawlty Towers

@ldgarnett777 8 ай бұрын

I’ve listened to Dave all my life. Really enjoyed hearing him talk about things from a higher level and wish he would do it more.

@TheBusinessGuy 8 ай бұрын

Great interview. I watch both of these gentlemen daily. Much respect.

@Learning-Stream 8 ай бұрын

Endless case studies and social proof from what Dave has taught consistently for years has given Dave's financial education legitimacy among the masses.

@r3sid3ntttv9 8 ай бұрын

Glad I found Dave Ramsey's content years ago, so that I could to the the point where I could learn how to build a business from Alex. These 2 talking was like a full circle conversation.

@TrentKaniuga 7 ай бұрын

Been following your channel since your first videos (back at 20k subs). Glad to see you now talking with Mr Ramsey. You’re both doing so much to help people think differently about business, money, and spiritual center. Thx for doing what you do.

@timmydotlife 8 ай бұрын

You are a very good interviewer Alex. It is very pleasant you let Dave finish his answer. There is a calmness here. Great job.

@champhallier8468 3 ай бұрын

I feel investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market, because 35% of my $270k portfolio consists of plunging stocks that were once respected, and I'm at a loss for what to do now.

@RobertBrown.. 3 ай бұрын

To manage market risks responsibly, distribute investments over many asset classes such as bonds, real estate, and international equities, seek the advice of a professional.

@MattDouglas-hj9wh 3 ай бұрын

I am seriously devoted to creating a stable financial future and am thrilled to participate.

@zoeytank2921 3 ай бұрын

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

@ThatFlyGuy98 8 ай бұрын

When I firstt found out about Alex , I was a diehard Ramsey fan. Didn’t ever think Alex viewed Dave this way. Changes my entire perspective on debt and business 🔥 love this man

@markanderson4353 8 ай бұрын

Shame about the floundering though 🐟

@andrewbonica 8 ай бұрын

When I first found out about Alex, I was NOT a Ramsey fan. I am still not. 😉

@curtismcdaniel6264 4 ай бұрын

Dave Ramsey is a legend. My wife and I love him dearly, he changed our lives for the better! Alex is an up and coming legend himself!

@timcocis3072 8 ай бұрын

“Playing within your own sandbox” is such an eye opener. A subtle parable almost that in terms of personal understanding can mean so much to the right ears. Let go of all the high risk roads and travel on the one you know

@tannerbyers6729 5 ай бұрын

I've known about Dave Ramsey for years, and I think his content is great for people starting and financial literacy. It is so cool to see him and Alex just talk and have the mutual respect they do. This was an awesome podcast and I hope to see more.

@elizabethfloresnava 3 ай бұрын

Adding thousands Blcktken300 more in March. Hope it’s not over $1 by then 🙂

@garrethaines1995 8 ай бұрын

Thankful for this episode, so cool to see that Alex is where he is today because of some advice that Dave gave

@Sharkdog11b 8 ай бұрын

Two people I love and admire and look up to im looking forward to this. Thanks for your time both of you, and the crew that helped you guys behind the scenes.

@user-lr4ck2zw7k 3 ай бұрын

Great video. Im a huge Blcktken300 fan and love your videos on it.

@skoolie_life3261 7 ай бұрын

Dave’s work helped me get out of debt. His simple steps really work. I changed things up a little once I was debt free, but I am grateful for his teachings.

@dpsheals 7 ай бұрын

Love this , ‘organizations will not outgrow the character and intellectual capacity of their leadership” So true. And even more so, the leadership under the bosses has a huge impact on this. When you have lazy managers and directors, employees will ‘quiet quit’. When you take advantage and take for granted hard work, your employees will quiet quit. When management plays games and play favoritism, it causes a crappy workplace. Learning this the hard way as an employee who has worked his ass off and burnt out many times who has become miserable trying to do everything when I should have vouched for myself and spoke up. Working for better days, god bless you all. Know your worth!

@jeboynton 8 ай бұрын

“The people who hate you are never ahead of you. I love you, by the way”

@zwolga 4 ай бұрын

I’ve been listening to Dave for over a decade, even hosting his classes. This just gave me a newfound respect for him. I’ve always wanted a closer look at his businesses, and to hear him talk business on a higher level and this was it. Whole new respect for you both. Thank you!

@ramirosan 8 ай бұрын

Wow this is crazy, but I love it! Never thought I’d see Alex interview others. It would be amazing to see Alex with Warren Buffet, Charlie Munger, Elon Musk and many others.

@jasonsullivan00 8 ай бұрын

That would be incredible. Hopefully they make it happen

@Alexandrite-kl6ti 8 ай бұрын

Wow and you are still broke.

@rockyblumble 8 ай бұрын

We need Alex with Warren Buffett

@calebrights8712 8 ай бұрын

Wow two of the most practical people in the Nation. Talking about some of the most important topics! God bless you have both impacted my life and the life of people around me. Can’t wait to learn more from you both!

@gregetto2009 8 ай бұрын

What a crossover moment. Been Following Dave for years, and this peek behind the curtain with Alex was amazing.

@emilyanderson1690 8 ай бұрын

This was such a powerful interview. I admire both of you so much. When my husband and I got married part of marriage counseling was to read Total Money Makeover.. we’ve been debt free on and off.. not debt free at the moment but working on it and currently studying your resources and Leila’s too. Just felt very real, this interview. Both humble and I can tell you both admire each other. Thanks for being real. Just hit something in my heart that I needed.