I'm 16 And Make $50,000 A Month!

Indianapolis is on the line Jake's with us hi Jake how are you hi Dave I'm doing great how about you better than I deserve what's up so I am 16 I'm going on 17 and about two weeks now and I love my mother traditional the fact that he hasn't really adapted to okay I'm having trouble hearing you you're not speaking directly into your phone do you hear me better yes sir thank you your mother is a traditional mother and what's your question so I think around 50 to 70 to 80 km are fulfilling ecommerce women you're making $50,000 a month at 16 years old yes yes I telling me the truth yes sir I do commerce so I run dropshipping website through Shopify I do amazon to ebay arbitrage and just a bunch of like various side hustles and usually go through the Internet and my question is it has no right be I'm doing this because and I have all my all my profits stored in a PayPal account he says he is going on my bank account and I would love to tell her but like I said with her being so traditional I already know that she will be very very skeptical of what I'm doing and she I'm fearing that she's gonna put an end to it just because she she's already told me because I've expressed my passion willing to be an entrepreneur and she's traditional in the way how much is in her PayPal account I got a little bit over three hundred thousand so you've been doing this for four or five months six months no it's been about eight months the first few months low and it picked up it picked up rather fast where's your father he divorce different states not in your life I mean we talk I wouldn't say these you know policies or oil comments are you in a good friend a friend I guess are you in a good church yes sir how do you feel about your pastor very very close have you talked to him about this I have not no well I wouldn't tell your friends I'd be very unwise or I'd be very all eyes okay so how large is the church that you go to about 30 people ok very small okay yes [Music] well here's kind of what's going on in my head you if you have the ability to make fifty thousand dollars a month you you know as soon as you're 18 years old you can go do whatever you want to do right right and that's just about a year away yeah yeah okay so if you were my son and you were doing this and you told me you don't want to go to college and you want to move out and be an entrepreneur I would say have at it dude make it fifty thousand dollars a month my god right I'm not saying I don't know if you can do that for the rest of your life you may have just caught a wave right here and you know as you know things on the internet change rapidly yeah and you could I don't know what all you're doing here I've never heard of anybody doing the volume you're doing doing the things you described but uh oh well I run I run three different websites and I felt different looking nice I know what you're doing I just never heard anybody pull this off at the volume you're pulling it off so I'm I'm not questioning your integrity I'm believing you but I'm just saying you're doing something pretty unusual in it so I don't know how sustainable it is long-term and so I would tell you number one I would pull out at 18 and go start and keep doing this and just build your own thing out and have a blast and go make some money while you can I would not say you're gonna do this 20 years because you're not it's not gonna be it's not gonna exist in 20 years there's too much change on the way business is done on the internet it you know you might have a two year window you might have a five year window I don't know and so I would commit to myself if I were you that when the thing does turn down I might want to seek out an education at that point to give me knowledge to do other things and it'd be great to have some business acumen from a business degree if you're sitting on a couple million dollars you know so knowledge and knowledge is valuable going to college is valuable do you have to do that to make a living well crud now dude I mean you're killing it you know so I go pile up as much money as you can so that that's part of our thing I'm really uncomfortable participating in you deceiving your mother my fear is we have such a close relationship yeah and I just I think deception is never a good rule and I don't want to hide it I just I didn't know that's not true you you have hidden it from her so you wanted to okay so you feel bad about it but you've got your reasons for hiding it are bigger than your reasons for disclosure right now and so what I'm thinking what I'm trying to get in my head is I would love for you to search out someone that is trusted by you spiritually and with business acumen and that is trusted by her that could mediate this discussion with the two of you okay I could participate with you sitting down and going okay mom our friend George is here he understands business and the internet and he understands spiritual things and values and he cares about both you and me and I wanted I wanted him to be present because I want to tell you some things have been going on I have $400,000 $300,000 this is the stuff I've been doing on the internet I'm very good at it I'm a child prodigy you know you are but I I think you just sitting down with your mom is not gonna go well okay and so I'm trying to pull in that right person that could kind of be a mentor to you and give you a little buffer but it's got to be someone she trusts because if you bring in some character that she thinks is a character she's gonna think they influenced you and so yeah I'm not I want you to develop some kind of a strategy or a plan like that that allows you to not deceive your mom anymore okay in the net and I take you in one yeah it may take you a month to put it together and that's okay and I'm okay with you leaving your money your PayPal account you do whatever you want to do that's all fine there's no danger with any of that and I'm okay with you continuing to do all of this and I'm okay with you coming straight out of high school and making 600 grand a year dadgum life's rough you know but again I don't think that's sustainable because the current methodologies that you're using will not be there five years from today and an education will give you the ability to do things that are sustainable and maybe step into the next thing with a little more zest I also don't want you to have this an unusual success at a young age and it's the only time you have success because you don't do foundational things that lead you into success when you're 32 as well as 22 so Wow pretty incredible conversation thanks for calling in I don't think I've had that one before I've got a lot of different calls in 30 years on the show but I don't think I've had that one I did meet a kid that was doing that farm thing or something on the Internet and he was 18 and his dad was there with him at an entree leadership event and he was 18 years old his dad and his brother his older brother both worked for him and he had made four million dollars with these add-ons to that farm thing the kids play on the Internet where you built a farm or whatever it is I coming and you buy you buy stuff to get more sheep or whatever it is on how it works but he had made four million bucks at eighteen years older than that so I mean I mean I mean them occasionally they're out there but why all pretty pretty amazing stuff yeah just build an app that's all you need to do then everything's gonna be okay

Channel: The Ramsey Show - Highlights

Views: 1,586,377

Rating: 4.8432126 out of 5

Keywords: the dave ramsey show, budget money debt cash, real estate, insurance, how to make money, dave ramsey, save, credit card, compound interest, buying house, buy, snowball, money, online business, shopify, make money online, 16 years old, make $50, 000 a month online, passive income

Id: zZYf_NSyX-0

Length: 8min 59sec (539 seconds)

Published: Mon Apr 15 2019

Reddit Comments

[u/greggilliam2nd]

When did God start a YouTube channel?

[u/PuzzleheadedCupcake]

/uj when someone with an obscene about on money like this calls in, I wish that Dave would just say "No one cares, you'll be fine" and hang up on them.

[u/careerthrowaway10]

yea lol