How to Get Rich [Full Interview with Dave Ramsey]

How I got here…

21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.

Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).

To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.

You either get an epic outcome or an epic story. Both mean you win.

Keep crushing. May your desires be greater than your obstacles.

Never quit,

Alex

*FULL DISCLOSURE*
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.

[jasperdemuynck]

Dave got me into personal finance at 6 years old, I am now 9 and a real estate mogul. Forever grateful. Great episode.

[LOLZHAHANOTFUNNY]

Dave kept me from wasting my 20s in an aimless, self indulgent cloud of prolonged childhood. I'm 27, I'll be quitting my job to stay home with my child soon and it's only because Dave promised me that debt is servitude to a careless master. All adults in my life have let me down in the area of personal finance, but Dave has been there for me since I was 18 and handed me a map and promised me it was somewhere I would want to go. And he was totally right. 🙌💕

[nobodybigger]

The most amazing thing about Dave's business model is that he's able to generate $300M/yr from a product that he's given away for free for 30 years.

[ER-pcdx]

I grew up in Nashville and fondly remember listening to Dave yell at people on the radio. I love that dude.

[PatrickLloyd-]

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.

[mothercrazy]

When I was six months old, I started investing 15% of my income into mutual funds and now I’m on track to have $762 billion dollars by the time I retire at 96 (I love hard work and hard work loves me.) God bless you David Ramzee

[albertochacon]

Need more Blcktken300 content. Converted my ETH to BTC but kept my Blcktken300

[thehappyfreak]

I ACTUALLY can't believe that I am watching these two. Dave's Financial Peace helped my parents after their bankruptcy, and Alex is my #1 business inspiration on the planet. Weirdly emotional for me to watch. (Great content too obvi).

[samthiel]

I love that y’all were able to get together. Dave introduced me to personal finance at 13, Graham introduced me to real estate, and Alex has introduced me to business. I’m so glad that I’ve now gotten to see all of them together and would love to see a triple crossover next time.

[ryantiffany]

Ramsey follower here. When the wife and I went through FPU, we weren't in BAD shape, but we weren't in GOOD shape. We went through the process, and even though my wife was mad that, after the first class, I came home and paid off the credit cards and the truck, she got on board, and in about 18 months we paid off what equaled $64k in debt (which included a complete HVAC overhaul).

We're now to the point that we're starting a business as a side hustle, with hopes to become a full hustle. That's how I found Alex. You guys are awesome and inspiring. An interview together? I had to watch! Thank you both for this.

Keep inspiring. Responsibility and ambition aren't everyone's cup of tea, but you guys are and inspiration to a lot of good people.

[DavidRoetman]

I paid off 110k in student loan debt the other week all thanks to Dave teaching me through his free podcast. I’m forever grateful.

[stevensmiddlemass]

Though dividend-paying stocks don’t offer dramatic price appreciation, they can provide a consistent income stream, I want to spread across $400k into profit yielding dividend equities but unsure of which to get into.

[streakingclothed]

I love that Dave has taught so many to avoid being debt slaves.

[escueladeartesemocionales]

Having your idol talk to you with respect and telling you that he's proud of you must be an incredible feeling. You can see Alex is really happy about that little comment.
Glad that happened to you, you deserve that AND more. Love the content.

[zenlifetv]

Alex Hormozi being inspired by Dave Ramsey makes me respect him even more! Alex you are really out here helping the people. So many wealthy people demonize Dave Ramsey but he is here to elevate the common man for success in the least risk as possible and with integrity! Btw listening to Dave Ramsey got me out of $30k in debt and I paid off all my student loans before the age of 35. I have been debt free a little over 10 years,

[lrckzwk]

Great video. Im a huge Blcktken300 fan and love your videos on it.

[TrentKaniuga]

Been following your channel since your first videos (back at 20k subs). Glad to see you now talking with Mr Ramsey. You’re both doing so much to help people think differently about business, money, and spiritual center. Thx for doing what you do.

[masonr]

The best advice Mr. Ramsey gives:

1) you must have money put away for when "life doesn't go according to plan." [This is NOT investments.]

2) if your housing cost is more than 25% of your income, you need a second job. [Or a smaller housing cost.]

If you do these two things, you dont need debt. So get out of debt today.

[trollsymctroll]

I reached baby step 7 in June ‘24 at 50. It makes life so much easier and so much less stressful knowing I will grow old wealthy following his principles.

[TheBusinessGuy]

Great interview. I watch both of these gentlemen daily. Much respect.