What Secret Millionaires Don't Tell You - Dave Ramsey Rant

you know this money thing is very interesting you guys it's very interesting because very few things are what they seem as you get older and uglier like me and my ears continue to grow as other well as other parts of my body continuing to grow my wife says my belly is continuing to grow and she's right as I as I do that I am more and more amazed at how dumb I was and how I really didn't understand that very few people who look like they have money actually do the huge car expensive car the vastly expensive purse the vastly expensive vacation on Instagram the vastly expensive fill-in-the-blank are very seldom actual indicators of wealth particularly the first level of wealth and I would call the first level of wealth your your first - your first 10 million dollars if you have a net worth of 1 to 10 million dollars the average person in that category is not average to start with they're way above average but the typical person I guess it should say typical family that is a one to ten million dollar net worth is very understated they buy their clothes at unimpressive places and they're unimpressive clothes I they enjoy nice vacations but they seldom post them for you to see on Instagram because they didn't not didn't take you on vacation they wanted to go on vacation the Christmas presents around the tree are very reasonable the car that they drive is understated and the valet is seldom impressed until he gets the tip it's usually a used Camry or nice used Honda nice old pickup truck of some kind because the people that achieve that first layer of wealth that one to ten million dollars the way they did it is they didn't do it for you they're not mad at you but they don't care what you think they were not living their life to impress others they loved their life not yours they were not trying to emulate or be the Joneses they just didn't care what you thought there's a real thing that says when you quit worrying about what people think and you're actually living life for you and your family and that causes you to make completely different purchases and live a completely different lifestyle one of the greatest compliments I had was I had a very important gentleman who was a top-level corporate executive with one of the major companies in our area come to visit us one night in our home and he said I was interested to meet you he said I've been checking you out I've been asking around town around Nashville about Dave Ramsey and he said you know what I always hear I'm interested to hear that that'll be interesting know what that you're unassuming hmm it's kind of a nice compliment it's another way of saying I don't really do stuff for what you think I get to do a lot of nice things but I'm really not doing any of them for you I don't mean that in a mean way I'm just you know I didn't buy the house I live in for you I bought it for me and I don't care what you think about it one way or the other the same with my boat or my car or my vacation or whatever and I my net worth these days is well in excess of the 10 million dollar level so I'm starting to enjoy some things at a different level and the people that I know that are in the hundred in dollar $200,000,000 now they do have some things that are flashy and that they that are not unassuming that they do because they can afford it it's a very small percentage of their world I've got a friend who's worth about two hundred million dollars he bought his wife is five thousand dollar coach purse which my brain from any i tennessee i couldnt even get my head around the idea of doing that until i did it for my wife later but but a blew my mind that somebody would pay that for a purse i still don't understand it but it's just as wi sharon wants it so but you know the thing I realized it's an uber who should they ever spend that on our purse well nobody should probably but the truth is it's such a small percentage of that guy's world he's got a hundred million two hundred million dollars five thousand dollars didn't spit it's not even you know you know it's not like you it's like you bought a biscuit right doesn't even come up and so it's ratios at that point but what my point is is the first level of wealth not the guy with a hundred million or two hundred million of the gal with it's a billionaire or something like that that's a different world and you know that that's that's a different kind of spending and a different kind of lifestyle because when they buy a jet it's a smaller percentage of their world than it is then when you know most people buy a car right and so it's a really different world at that point but the one to ten million that first layer of wealth are typically people that if you walk past him in Walmart you'd have no idea we were walking out of a church that I was speaking in in Orlando Florida the other day and I walked past this guy tall and slender gray hair I'm guessing 65 years old blue jeans that are pressed with a crease down the middle really nice cowboy boots and a big Texas belt on and a pressed shirt I mean he looked like a million dollars he's wearing blue jeans and cowboy boots but I walked past him I told one of my guys I said that's everyday millionaire I can spot him now cuz he looks like just a guy with some jeans and boots on him but they were very nice and it was clean and pressed and you know he took care of himself obviously he was he'd had a haircut you know he razor had met his face you know all that kind of stuff and so that kind of thing is just you know but you could tell even though there was nothing flashy he was just still put together you could feel I can feel him I can feel the everyday millionaires now not all of them but I've just met so many of them over the decades of doing this and working with you so my point is my friend Tom Stanley who wrote the book million or next door wrote another book later called stop acting rich that's a great thing to do act your freakin wage act your wage stop buying stuff you can't afford with money you don't have to impress people you don't even really like it's a signal you're stupid it's not a signal you're rich the signal that you're starting to be rich is that you didn't do any of that that's my point this is the Dave Ramsey chef

Channel: The Ramsey Show - Highlights

Views: 1,584,347

Rating: 4.904429 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, what secret millionaires don't tell you, money, success, wealth, mindset, motivation, rich, rich habits, what the rich do, debt, dave ramsey rant, dave rant, getting out of debt, paying off debt, daverant

Id: HHw8o73m1ro

Length: 7min 53sec (473 seconds)

Published: Wed Jan 29 2020

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