How Do I Build Wealth at 22?

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[hillaryvasquez]

I don't know who needs to hear this saving for a better investment is a great step to financial freedom you are saving a day off work

[BendyChoy]

Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.

[MattDouglas-hjwh]

I feel investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market, because 35% of my $270k portfolio consists of plunging stocks that were once respected, and I'm at a loss for what to do now.

[hammo]

I love how George is saying the key is to keep living less than you make given how he’s already saved $60k at 22 years old… I’m pretty sure he knows that

[PatrickLloyd-]

I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom

[EricAndradeMusic]

Daves advice will take the average person out of debt. His advice will also keep you working until you're 75.

[AlexHernandez-xhei]

The thing is when Ramsey first started buying real estate it was very cheap. Now to save up cash to buy a house takes light years

[AceTheDragon]

As a fellow 22 year old, I wanted to hear this regardless of the call. My man has done incredible.

[RaymondKeen.]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[senorbautista]

He is doing way much better than some grown ups I know that have coach purses and less than 3k in savings.
Well done kiddo👊🏽 I wish I had been like you when I was your age.

[williamfimple]

Just starting out as a 22 year old myself, fresh out of college, making 65k a year, 0 debt student/credit card/'car or otherwise and am closing on my first house in ~a month with about 15k in savings after my closing costs and downpayment. Listening to Dave and the seeing the failures that my parents made financially has been a huge motivator in my desire to build my own wealth and live better than I was ever able to growing up.

[Chanel.Mckenzie]

He is doing way much better than some grown ups I know that have coach purses and less than 3k in savings.
Well done kiddo I wish I had been like you when I was your age.

[axt]

this guy is killing it. I would say he should increase his emergency fund. 3k is nothing. That probably can't even cover a major car repair

[bluejedi]

Rule #1 It's NEVER to early to start an IRA/ROTH IRA or 401 K. Or all the above. Even if you can only afford $25 a month. It's never to early.

Rule #2: Don't spend money you don't have on crap you don't need to impress people who don't care

[oshkoshbegone]

If i took Ramseys advice, it would take us 8 years to save up the price of a 400k house by that time the house would be worth 600k-700k and I'd be priced out. Nobody is able to compete in real estate without taking on debt or coming into it with a high income or inheritance.

[jparch_]

Dave Ramsey is referring to the compound effect as opposed to the BRRR method or other OPM real estate investment strategies. You gotta admit Dave’s philosophy might seem unorthodox but it beats being in a position where you owe money to banks and private lenders. Props to him and what worked. Maybe this kid can find a balanced duality of tactics.

[SuchFinessse]

I was in this exact situation when i was 19 and Dave wouldn’t take my call! I’m doing well now! 😂

[zumlz]

I’m 22 so hearing this gave me a great perspective on how good things can turn out paying with cash but on the other side for me I already got a duplex with a mortgage payment but I’m basically paying half what I would have paid for in rent because my tenant is paying half my mortgage payment while I’m living in the other unit and I’m paying down my mortgage. It’s great advice he’s giving but it would have taken me half my lifetime to pay for the duplex.

[Thurgor_Supreme]

Here we go again...

"I'm still traumatized from 35 something years ago when I agreed to really stupid loan terms and got burned, so I can't recommend anything above 0% leverage"

Dave could have almost double the cashflow and still have very manageable risk

[jared]

I'm also 22 with $90k in savings bringing home about the same depending on OT. So more of us exist!