I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow to $1 million for retirement?

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars

I had a negative networth at age 30, but got into the babysteps not long after, now I’m at 70K and just turned 35, the plan works 🎉

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

George knows how to get people motivated. If I had him as a friend in my 30’s, I’d have a friend.

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $6 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

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.

I am 35 and my wife is 32. We started off with $25k in student loans, a leased car, and an apartment we couldn't afford. We have 5 kids that are 8 and under now, and we have never had a household income over $75k per year. 10 years later of following the Ramsey plan we now have no debt including a paid for $250k house and a net worth of about $400k. We appreciate you and the work your team does!

THANKS. Just what I needed to watch. My wife and I got a 400k HELOC from our 780k primary home which we are still paying a mortgage for. I want to only use 200k for this new duplex down payment. I realized that the secret to making millions is making better investments and staying out of debt. I'm grateful to GOD for the internet space, we were able to join the credit repair program, we payed up our debt and now we are back to being the administrators of our farming business and our own properties, as well as small pensions. I am almost 56, my wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn using Airbnb and retire comfortably.

Just paid off my student loans last week to make me debt free at 24! So thankful to those who supported me along the way. That puts me at just over 100k in net worth. Praise be to GOD.

Having recently sold a property in Portland, I'm contemplating investing the proceeds in stocks. While many claim it's an opportune moment, I'm uncertain: Is now truly a favorable time to enter the stock market? When can we expect a complete recovery? Moreover, I'm puzzled by how others in the same market are achieving gains exceeding $450k within months.

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.

If I had George as a friend in my 30’s, I’d have had a true friend. He sure knows how to do this thing called MOTIVATION. Well i'm 42 now with $1.8m net, not there yet. My strategy has been to put half my income into the stock market at the start of every month under the careful supervision of my CFP, regardless of what is happening. The second part of my strategy is not to sell for at least 15-20 years. Time in the market beats timing the market.

SHORTCUTS TO SUCCESS

At age 25 I was at rock bottom, my net worth was somewhere around -30k and my income was 38k in a HCOL area. I knew I had to change and I started tracking my net worth and started budgeting At age 30 I bought a property and my net worth was at 45k. I was making progress but I knew there was still much more to gain if I kept at it. Now at age 35 my career exploded, I kept increasing my savings and retirement contributions and my net worth is around 450k. Never did I think I’d be where I’m at now 10 years ago. There is a thought that has always stuck with me. People greatly overestimate what they can do in a year, but they greatly underestimate what they can do in 10 years. It’s never too late!

I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $5k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.

Mr Kamel breaking away from the tired debt train wreck stories & doing something different. Excellent.

We just paid off our last debt this past weekend, we are now debt free aside from our mortgage thanks to the baby steps!!! 31 years old and planning to have the house paid by 37

I've been following the Ramsey Baby Steps the last three months. Wanted to break the cycle so I started focusing on my debt. My grade is a "D," but I'm actually working the plan. My car will be paid off at the end of October and then it's onto the student loans. One step closer to being DEBT-FREE!

Thanks to the baby steps for a plan I went from an F to an A between 23 and 30 years old! Thanks to paying off lots of student loans!

Though I’m 27, debt free, and only have a small savings, this is still very motivating… haven’t lost hope! Thanks George!

We're both 35 and an A. We have accomplished this by intense frugal living because of our circumstances (I became physically disabled at 28 and my Husband works a part-time, minimum wage job so he can be nearby and care for me). You can ABSOLUTELY do this! Thank you LORD for Your Kindness and Goodness to us and for sound, Biblical financial education xx

I was a theater major, I quickly realized the communication skills I learned adapted well to sales and marketing. Since I have a passion for finance I was able to combine all of these skills to become a CFP. Now in the A+ category. Actors can change and don’t have to strike out 😉

Love this video. Please do one for every decade 20, 30, 40, 50….

Shared it with a friend in her 20s so she doesn’t end up like me in my mid 30s. She’s an amazing coworker and friend and deserves an A!

I’m 29, in RN school, have 20k in school debt, and only 700$ in my bank account. Oh and I still live with my parents cuz housing is ridiculous right now.

Amazing content. I started a bit late (graduated from my doctorate program at age 30 in 2016 with 170k in school loan debt). Managed to pay off my debt by 2019 and currently have a house and 250k total in investments (combo of profit share, 401k and a brokerage account). I'm not very knowledgeable in investing, so I just have my investing currently in index funds thanks to my FA Emily Lois Parker (mainly voo, but have been putting a lot into schd the past few months). I dunno if that's the optimal strategy, but psychologically it is very set it and forget it, and prevents me from obsessing over individual stock performance like you mention in one of your old videos

I had exactly $23k student at 30! Took me years to pay off, and with interest, it was $36K. All the while saving for my pension. Nevertheless, now at 59, no debt and a good chunk of change for retirement. Steady but slowly 🐌 watch the investments grow, and it will happen!

I really enjoy your videos George, they make me think about a lot of things that I haven't considered yet. I almost fell into a point of no salvation in my mid 40’s but thankfully now I’m close to retiring in a satisfactory manner and have majority of my boxes ticked

Wife and I are 32/31 and we'd get an A, but I contribute that first to God's grace and second to Dave's teaching.

I turn 30 next month. I keep track of my Net Worth and next month I should be right at $400,00! I do have a good paying job (that I did not go to college for), but I also started with nothing. Everything I have I earned myself. I have no inheritance nor has anyone given me a large sum of money. I bought a house for $56k when I was 20 and put about $50k into it over the years. It's now worth $165k.. and it's paid off. I have no debt and I've been investing into my Roth 401k since I was 20. Every time I project I'll have X amount of dollars/net worth by a certain time, I out pace that. I was 25 when I heard of Dave Ramsey with a slightly negative net worth. I was in debt, but I became intentional with my money and turned things around quickly.

I did the net worth calculator and was shocked I had a positive net worth lol I never thought of my retirement account. I’m sitting at a B! 🎉

I’m 30 and my wife is 29. We have been really fortunate and have worked really hard over the last 10 years. We are currently worth $2.4M and counting. I will say that consumer debt is a thief. But real estate debt if used properly (not 90 day notes like Dave used) is extremely powerful.

Theatre major here and puppeteer! I can admit I'm still paying off debt, but the future is bright.

Hit 1.3 at age 35 in high of 21’. Being not married no kids helped a ton, but I’d trade the NW for a loving family anyday

I've always been an A student. It's refreshing to hear I've kept that going even out of school. Thanks Prof. Kamel!

I would love to see you do this for 40. I'm 38 and making an A by these standards. I feel I'm behind for my age all the time though.

I'm there at 40. Lol. We've had some trials over the years. Wish I would have gotten on the Ramsey plan earlier. Our income is doubling through and we'll be debt free by December. We'll be able to invest $140k a year moving forward. $60k annually in retirement accounts and 80k in outside investments. Buying property and building our first house with cash over the next year.

Just turned 30 and in my last year of psychiatry residency. I’m the cheapest doctor I know (no undergrad loans but med school ain’t cheap so took out loans for that, old paid-off-car, clothes from goodwill, making coffee at home) and I still got an “F”… excited to turn that around over the next few years! 11 months until graduation!

I am proud to say that my report card is an A 10 years in advance. I turn 20 years old next month and i've never been to college. My current networth is 111k with a credit score of 752 and I've never been in debt. I started working for a local company at $12/hr when I was 16 and have worked my way up in the company now to being a manager making $26/hr. I am completely self taught on financial literacy through youtube academy lol. My parents did let me stay with them until i found a place at 19 which helped but besides that I have paid for everything else myself since I started working at 16. Bills, food, clothing, entertainment, cars etc.

Turning 30 this year and my husband and I have a net worth of $192k. However, a good 90-100k of that is because the house we bought 2 years ago we up in value so much.

Honestly we're so fortunate to be A+ and I've got to thank my wife! She's the one who came into the relationship with financial common sense. I owed $1000 on a debit card and lived in my camper van... Four years later we sold our bought and paid for home ($90k) during the real estate mania of the pandemic and sold for 4x that.. Again very fortunate and much of it thanks to timing and the lessons learned from the Ramsey team.

damn that opening line terrified me. crazy to think that 42% of americans were born in 1994 or later.

My grade was a B at 24!! . I ditched the car payments, and I have just paid off all my debt! Thank you guys so much for the financial advice!

George Kamel is the best personality on Ramsey. Legitimately honest and adjustable in his thinking.

A at 31 but still use a credit card and pay it off every month

I’m 26 and I currently have a D but that’s contributing to being Dave-ish for the past couple years. Now to ramping up my side-hustles and saving to be a B student (like I’ve been for most of my life) by age 30😂😎

My wife and I are in our mid-late 20s with net worth of $325k. Being debt free other than mortgage is truly a game changer 💪🏻

At age 30, I had $65K in student loan debt, was still in grad school, was in need of significant dental work and had major mechanical repairs needed on my car which I needed to drive myself to school. On top of full time grad school, I worked 40+ hours/week at my parents' business for free because the business never made any money. The anxiety I had back then probably would have set me back another $100K in medical care which I never sought because I was so broke. I get anxiety just thinking about those days.

I'm 35 and at an A, that is refreshing but I still feel like I have a lot to catch up on since I got started late. Better later than never, though!

I'm 38 and the calculator says I have 753k. I've only gotten serious aftery wife pass away 5 years ago (I inherited debt). I got debt free before the pandemic and hoard cash like mad during the pandemic because there's no place to spend them, dump it all in my mortgage and that's probably the best thing I did.

Im 29 years old right now, I have 87,400$US in debt (car and business loans) and 196,200$US in assets with house and my small business. I started as a real estate agent in 2016. Almost 8 years of work, not a millionaire yet or anything but im grateful for the results of my work

I was planning on having an A+ net worth but then these things happened once I graduated: - I Graduated when Covid hit. It canceled my internship and delayed me finding a job for 1 year. - While I was looking for a job after my degree, townhomes went from $250,000 to $410,000 requiring a $80,000 down payment. - Interest rates went from 2.8% to over 7% now. - Food and Utilites and other essential costs have gone up 30-50% Despite Covid completely screwing up my 20s to build a good financial foundation, I've managed to have a net worth of $40,000 at age 27. Hoping to at least get an "A" when I'm 30 and have $100,000 saved up for a house. I've recently gotten approved to work overtime so I'm working 60-hour weeks now to try and compensate all the money I missed out on because of Covid. I think everyone has had unfortunate circumstances that have brought them down, but it is fighting and continuing to get back up that builds wealth.

George, you will single handedly save the Ramsey network. Your humor, your delivery, your content is all great. Keep it up.

I made a lot of financial mistakes years ago....Im 42 and still owe around $100k to a lot of people including the attorney general IRS and other places...... recently I've took on a better paying job and wife works 2 jobs.... luckily we are right at $100k a year in income...we have a few older vehicles but all are paid off and don't intend on getting any thing else for a while....we are working on paying everything off on the next 18-24 months......it's not gonna be easy....but if we stick to it we can get things accomplished.....

As a 26 year old self employed musician. I’m pretty happy with how my 20s have gone so far. I got a masters degree, have no debt, and a net worth of about 25k. I’m hoping to make more, but the fact I got here only doing music and no other jobs makes me feel blessed

Currently a B at 26 but was at D beginning of this year. I still have student loans but have been investing heavily in retirement since finishing grad school 1.5 years ago and went from -36k net worth to +34k net worth since finishing grad school! I plan to have an A by 30 if not sooner!

How dare you call my 29.5 year old self out for being terrible with money my whole life. Baby step 3 technically, but not even $8000. 😭😭😭😭😭 I needed this kick in the pants.

I've watched a lot of your videos, as well as videos from other financial people, and have often felt that I'm not doing as well as I should. After this one I actually feel pretty good about my situation and it's coming across as motivation to do better. Thanks for boosting my spirits.

Thank God I read the baby steps at the age of 17.

Not trying to impress other people is literally the key to building your bag! 💰

Age 34 here with a net worth of 475k and growing! Almost half way to a million!

I’m 30 exactly and pretty sure my net worth is right at 235k! Most of it is in work 401k. But pretty cool how close this resembled my journey. Thanks for the video! Nice to know I’m not screwing up too bad. Still feel behind most of the time!

This made me feel better. At 33 I have well over 100k in net worth solely on my home worth. However I feel like I'm struggling due to my DTI. My wife got in an accident 2 years ago, and I had to take out multiple personal loans and max all my cards just to get by as we lost half our income. Now that all of her debt excluding her car is gone I've been going back and forth on using my equity to pay off my debt as we live payche k to paycheck and even if I do so I'll still have over 100k in net worth and that made me feel not so bad about everything so thank you.

This is good to know. I’m only 25, so this gives me time to get that A+. My net worth is currently only $80k, but it increased by $50k last year, so as long as I keep this trajectory, I’ll be gold star worthy 🌟

These type of videos are why I feel so anxious and depressed all the time now. I now have the tools and knowledge I need to become financially secure and I have solid goals for where I want to be. I’ll focus on doing that instead of being constantly told I’m not rich enough for my age. It’s exhausting.

I'm 28 with a net worth of about 250k and 0 debt. Guess I'm more ahead than I feel lol. I got an A from Goerge 😂😎 Thanks for the great videos Goerge!

I’m 25 now, owe $6,800 on my car but I bought it a little over a year ago and I’m going to pay it off by December. I make 110k annually, my boyfriend makes 150k annually no debt. I cashflowed my school and finished undergrad without student debt!

I’m a D student, but I’m 24, with $3500 left to pay on a truck, and I’ll be nice n cozy at C by the end of this year 😎.

I would love to see this for each decade. 😅

Average income for a 22 year old is 38k according to forbes in may 2023. The numbers you used aren't realistic for over half of America unfortunately

George with you in my life, my net worth is infinite.

25 just did the calculations, $206,000 is my net worth! Makes me able to breath a little.

Back when I was 30 in 2009 i was lucky to have networth over 50k...that seems low to me but was pretty good for a single guy making maybe 45k a year. Fast forward to age 40 and was around 800-900k....So anyone discouraged dont be. Just keep plugging away.

Im 29 and have a negative net worth, still rent, my knees are shot, my financial aid fell through afger 1 semester of college, ive had 4 cars completely break down on me. Sucks. Oh, and just finally started making over 15 an hour recently. Should be positive next year though. I really wish housing and food wasnt so expensive.

To be clear, in George's scenario for A+ we are assuming from 22 to 30 you lived off ~2300/month. Probably possible in low cost of living areas, but as George said, you would have to be 100% dedicated for 8 years and graduate with 0 debt from college.

36yo. Net worth around $725k. Been Ramseying since 2019! Amazing how wealth grows when you stop the credit cards and payments!!! Breakdown: 🏡 =$350k Retirement= $300k Investments= $50k Savings= $25k

😂😂😂😂 Omg my net worth is double double that. Thank god!!! No exact figure George is being nice. If you in the negatives in your 30’s and 10 years can’t see yourself passing 30K+ net worth start panicking.

Let that sink in at 2:59 ...was hoping for a cut to Elon bringing in that sink 😂 ...come on Ramsey video editors you missed a good opportunity there!

24 and I got an A. Thanks for putting some pep in my step !

Age 30. Next month I’ll hit 500k net worth with no debt. Investing in S&P500 is the easy and best thing to do.

I am 32 and I feel so behind. I have 30k in retirement and no savings. 1k in checking account. I wanna cry

This really encourages me. Only 2:43 in but the figure of $8,000 by age 30 is scary, yet easily achieved. I’m already above that several times over yet I felt like a barely successful young married man. Debt free, good job, loving wife, I’m so happy. About to go on a cash-paid road trip to oregon(fly there) and buy some old classic to drive 2400 miles home. I feel guilty for spending money, but I’m going to profit off of the rust free car back home. So a “free” trip if all goes average, profitable if it goes well, and an acceptable cost of $2000 if I don’t make money.

I got my sister a Bob Ross Christmas ornament plus a bobble head of him with a tiny calendar that shows diff paintings he did 😜 we loved him. Other day actually clicked on tv and we don’t have cable and his rerun was on pbs or so and watched. Ahhh so peaceful. He had such a gift ❤️

I just turned 30 this year and my Net worth is $500,000. I should hit the Millionaire benchmark by age 35. I wonder if I'll finally be good enough by then..

I only got an A because of the town home I bought in 2020 for cheap and the value sky rocketed 😂. But yay me I guess. Still have consumer debt but I guess I’m doing better than I thought

The millionaire next door has a formula for this purpose. Take your age divided by 10, times your pre-tax income to get your threshold, then divide your net worth by the threshold amount. If this number is between 0.5 and 2, then you are an average accumulator of wealth (AAW). If you are below 0.5, then you are an under-accumulator of wealth (UAW), and if it is greater than 2 then you are a prodigious accumulator of wealth (PAW). If your income varied over your career (as it does for most), average your income starting at age 20. So for example, someone age 30 who earned an average income of $65k would be a UAW if they have a net worth below $97.5k, and they would be a PAW if they have a net worth above $390k.

My Daddy’s advice is I should make sure I never get in debt! 😊

29 and 23 we're at an A for our 30s. Ramsey gave us the tools.

I think “years into working life” is a better measure than age. I got a Ph.D., so I didn’t have a real job until I was 27. I was doing horribly by age-based net worth measures until I was about 35, and I was not doing anything wrong. 38 now & millionaire by 40, would say it worked out.

Went from negative at 30 to 100k+ in 2 years. Thank you Covid.

$320,000 at age 28. Still doesn’t feel like much has been accomplished but we will get there.

There’s no should be in life… each one comes from different backgrounds, experiences, opportunities, ways to see the life, maturity, dreams, abilities, talents and purpose. Life is more than check list, success, contentment and fulfillment have different meaning for each person. And the most important thing… mature people knows that life it’s not about money or what you have it’s about who you are and who you have.

At 25 my net worth was about $5k. By 30 it was $1.2m. I hit $2m at 33. At $2.4 a year later. I Started a business and bought real estate.

By age 25, my kid was debt free (has his BS, MBA) and passed into the millionaire club. We have been investing for him since he was a little kid. The U.S. Military paid for his college (I was deployed to Iraq as the “Command Surgeon” with the U.S. Army; passed my military educational benefits to my kid). He is now 30 and recently passed into the multimillionaire club. He is incredibly frugal living well below his means.

Me and my wife grew up poor but never took on debt due to finding Ramsey as a young teen, currently cash flowing college for myself and my wife by me working full time and my wife working PRN along with scholarships. Current liquid assets ( index funds and a few single stocks) just over 61k and other assets including paid for vehicles, Roth IRA, firearms and other things totaling around 30K. Me and my wife are 21 now and our goal is FIRE by our late 30's. I'm not bragging but only conveying that you can achieve a lot quickly if you create a plan and stick to it without making excuses! We married at 18 and been working at this since then.

Graduated with a Theatre major and still successfully made it through the baby steps! Don’t hate!😂

I have a six figure net worth at 24 but it wasn’t easy. I grew up poor and was the only one in family to go to college but was able to get a full ride to uni because I was valedictorian of my high school. Landed nearly six figure job straight out of college at 21, saved very aggressively (over half of income each month) and bought a home at 22. I have since then built my savings back up and have invested a lot more into my index funds and retirement account. I’m now looking to pay off my home early with extra payments since my interest rate is pretty high (although lower than current rates). I definitely owe a lot to my partner though as he’s paid me rent for living in my house which obviously helps :) Life is good-made all the hard work and discipline worth it!