“This Keeps 99% Of People Poor!” (From Broke To Millionaire)

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TIMESTAMPS:

02:24: How George Became A Ramsey
04:23: How George Overcame His Debt
05:19: The 7 Baby Steps Broken Down
14:00: Debt Without A Credit Score
25:42: Are Credit "Rewards" Worth It
32:21: George's Net Worth Over Time
40:59: How To Feel Financially Secure
48:57: Budgeting The Right Expenses
57:17: What It Means To "Deserve" Something
01:08:07: The Importance Of Giving
01:14:12: Final Thoughts And Disagreements

Audio Equipment Used In Podcast:
Shure SM7B mics, cloud lifters, rodecaster pro audio interface

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[GeorgeKamel]

Seriously an honor to be on the show. Loved this conversation. Thanks for having me on, guys!

[salomonlopez]

One of the best open conversations around different money philosophies I’ve ever heard. And loved George Kamel’s boldness in sharing the gospel. Goosebumps.

[plummerofficial]

I like that George was sticking to his practices and the Ramsay principles almost as much as I loved seeing Graham & Jack pushing back on him. This was refreshing, versus the normal echo chamber of information you often hear on a solo YT video.

[JannyLuits]

I would say TAKE ADVANTAGE OF THE RECISSION! Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.

[CalebHammer]

This was GREAT- also, I was joking about the car debt for Jack ;)

[darleneatkinson]

The Iced Coffee Hour, in 2003 I followed Dave Ramsey to get out of debt. I only receive about $1, 120.00 each month I had $48, 000.00 of debt and so I did paid off credit cards 4 of them a vehicle and my mortgage within 4 years 8 months it took me. But I was single no children it was just me. So, Dave Ramsey truly turn-out for me in my life. And that is it each person life situation is different. And I promise myself never get deep into debt. So I thank Dave Ramsey. And thanks you, you younger people helps me to be aware of debt not to go into it I do use credit card only pay it off each month. Thanks a lot from Sacramento, CA.

[dylanbarrett]

I love seeing smart people who are able to agree to disagree on some things but still able to be friends and find common ground. It’s so refreshing.

[paolovalente]

Following the Dave plan, paid off $550k mortgage in 6 years. Canada only has 10 year ARM mortgages. So while everyone was saying "its the cheapest debt you can get", im Debt Free & laughing while they are crying seeing the mortgage rates double.
The peace you get owing NOTHING is undescribable. Its hard work for a season, but doable by anyone...if you truly want it.

[Aziz__]

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. my monthly living expense is up $37500 from $16000 and I'm left wondering what retirement have in store for me 5years down the line, I'm ill-prepared tbh, my 401k worth about $620k and gains are zero-nothing and my stock portfolio?...OH WELL!

[omarsuarez]

We need more people like george on the podcast! Just regular people with 9 to 5s absolutely killing it!

[NwachukwuEdithN]

First money mistake to avoid is feeling the need to solve everything and be there for everyone, you have to invest in yourself before investing in others

[bvvvnie]

OMG! George you did an amazing job from Faith to Finances. You are so down to earth, made it simple and left an impact.

[tascoVal]

I'm thoroughly impressed by the young man who absorbed the philosophy and information, asked insightful questions despite practicing the complete opposite from the guest. This is one of the better videos which outline the benefits and drawbacks of each philosophy from these two schools of thought.

[nalmedina]

I already had some respect for George Kamel, but after watching this video that respect went up 20x
Great episode guys!

[milkismurder]

I LOVED this interview and George got the point across really well that while Graham and co are helping those with the means, drive and financial intelligence to prosper, Dave and co are helping millions of normal people with modest means get out of debt, break free of the consumerist habit/lie and live a life with all their needs met including retirement. And some of that is less about mathematical optimisation and more about psychological/philosophical optimisation

[fondarist]

George is amazing...as he self-affirmed...he was "better prepared"... and held consistently to his opinion, with confidence...no need to be insecure, George!
..

[calebreasons]

My wife and I are currently in baby step 2 and are about to pay off my car ($7500 left) then tackling a large amount of student loan debt ($110k). We’re able to throw about $5k/month into debt and are set to be debt free (except the mortgage) in 2 years. It’s a long road ahead but we’re super excited to just decide to stop running this stressful race of trying (and failing) to manage debt. We’re done with consumer debt. George and Dave speak to the vast majority of Americans and their program works.

[kevinjobe]

This is how people with differing ideologies on something have a discussion. Well done.

[ironreaver]

What Graham is pushing DOES WORK. But not for people like me. I’m impulsive and not super analytical. And it’s taken me almost a decade to realize this. Only after getting myself into so much debt I couldn’t breath. Credit cards do feel easier to spend on then cash. So for those people with the discipline to be very intentional with credit you can definitely reap the rewards. Those rewards are paid for by people like who I used to be that carry a balance and pay a bunch of interest.

[_gleeam]

I rarely comment but this was one of my favorite episodes from the channel. A lot of times after watching finance videos, I end up wanting more money, feeling not enough, etc. This episode was uplifting. Not only it was relatable and enjoyable to hear open conversation about various philosophies but also just a great reminder to BE GENEROUS. Many finance videos are all about ME ME ME, building wealth for myself so I can live a comfortable life for ME (& family) not really talk about the and about GIVING. Love George Kamel’s humbleness and at the same time pleasantly surprised by his boldness as he shares his beliefs/gospel. Been enjoying Graham + Ramsey Solutions collabs! 😎