December 2, 2024

46 thoughts on “Dave Ramsey's Advice For Young People Who Want To Get Rich

  1. Instead of thinking about becoming a millionaire we should be teaching people fiscal responsibility. Live below your means, invest for retirement, have 3-6 month emergency fund, save for your children’s college, pay off your mortgage (unless interest if less than 4%). Only when you have met these requirements then take risks in the stock market.

  2. Stay away from debt at all cost.
    Pay off all debts except for a house if you've purchased.
    Too much house downsize.
    Automate your savings and investments. Attempt to shoot for 25% of your pay.
    Have 6 months in a high yielding savings (HYSA). Then use 1/2 of that monthly amount into a short term bond fund once achieved 1.5 years + 6 months HYSA any extra once per year into a conservative balance fund.
    Start out your 401k with just the match amount and as you have pay raises put 1/2 of that raise into the 401k. Just keep marching it up over time till you hit 15%.

  3. Dave just stated that he went to college and then went to real estate that's how he became rich… you're not going to be rich unless if you are meant to have the career that makes you rich

  4. Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

  5. I started investing in crypto when I was 16 and today I can brag about multiple million dollars in wallet .. Kudos to my investment manager Mrs Caroline Vijay a well known crypto expert

  6. it's for more younger people but helps me too. we had a say in China that saying when you heard the 'tao' in the morning, you can die in the evening. means it's never too late to know the gist of life.

  7. There's a book called Hidden Time Wealth, and it talks about how using some secret techniques, you can overcome procrastination and accomplish anything in life. It's not just a bunch of empty promises; it's the real deal.

  8. Discovering Hidden Time Wealth has been one of the best things I've done for my productivity. It feels like I’ve finally cracked the code to overcoming procrastination.

  9. Couldn't agree more! Developing a rich mindset is essential for success. Many people face challenges due to limiting beliefs, with around 75% of individuals struggling to break free from a scarcity mindset. This often stems from a fear of failure and a lack of confidence, creating a self-fulfilling prophecy of missed opportunities. I dealt with this issue myself and found that focusing on growth and positive thinking made a huge difference. After trying various methods, my friend recommended Habit10x. Their program helped me shift my mindset and build confidence. Found them through Google.

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