How to Become a Millionaire By Age! (2023 Edition)
60,084
Published 2023-06-23
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Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.
All Comments (21)
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Stay out of debt, spend less than you make, and stop caring what other people do or think of you.
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I graduated college as an engineer with 0 debt due to scholarships, but realized I didn't want to be an engineer around year 3. I still finished the degree, and it helped me land a great job. A degree can still have value even if you choose to pursue a different line of work. That may not apply to all degrees though.
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PLEASE do more videos on how 40 and 50 somethings can catch up for retirement when they just started taking it seriously! There is SO LITTLE information on it. Everyone loves to deliver the good news on how easy it is to become a millionaire when you invest in your 20s and 30s. I’m 46 with only $76k in my 401a and literally just started a Roth with $100. No debt. Help us!!!!!
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i will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Yuval Eric Brokman.
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I appreiate you breaking down the decades to make it possible for anyone to hit their goals. Biggest takeaways is that most millionaires are self-made, there is always a path forward despite when you start saving and the millionaire title is just a number and that financial indepedence is the true goal.
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The money multiplier has changed my view on spending like crazy. I used to think dropping x amount of money on another car is no biggie. But then when I saw the multiplier I was shocked! Invest invest invest!
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My dad gave me an “awkward talk” about money once. He called it son don’t get nickel and dimed 😂
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My portfolio still is 20% below what it was in late 2021. Seeing no compounding and seeing retirement goals sail further away has been far more difficult than I imagined when I looked at past downturn charts. Investing is simple, but hard.
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As mentioned several times, a big shovel can help. We're in a position in the past 5 years invested $10,000 a month. I'm 50 and my wife's 39. I have a feeling we will be okay 🤙🏼
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43. We’ve save 4100$ a month so far this year. Sitting right at about $225k investable assets. Late start in many ways but working hard.
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Great show. I’m really happy to have found your and Dave Ramsey’s content while I’m in my 20’s. Very thankful!
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My husband and I did not get rid of our 2 mortgages and car loan and still crossed the $1M net worth recently. We are 38 and 39. We put 32% down on our car at 2.49% but for 6 years, not one year. We are going to keep that car for at least 10 years, hopefully.
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I hope everyone watching is on track!! Comparison can be very harmful, but sometimes it’s a good reality check
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I know a guy who became a millionaire in a 12 year period on a company grade army officer salary by doing exactly what Dave Ramsey and the FIRE movement said we should do. So thankful for the FIRE movement for showing me the way to financial freedom.
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I just recently acquired a million dollar net worth. I also live in NY, so I still feel broke😂.
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How do you ask questions for the live show? Should someone that is 50 (planning to retire at 65) and planning to earn W2 income until retirement begin transferring existing traditional 401k balances to Roth 401k over the next 25 years (before RMDs hit at 75)?
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Makes sense to me that most older folks are doing something different years after they turned 21 or 22 when they finished their college majors.
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Thanks for letting me know I'm on track to be a millionaire apparently!
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Complete ur 1st two years of a degree at a community college. 1/2 the cost...same value. Just not as cool.
