Hey, guys, before we get The Today show, I want to remind you that our first ever smart conference live stream is this Saturday, November 7th. Join me along with the Ramsey personalities and special guests to help you change your life. Get your tickets at Dave Ramsey dot com slash events and use the promo code podcast 10. Now, let's get to the show.

Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studios. It's the Dave Ramsey Show where dad is dumb, cash is king, and the paid off home mortgage might be an indicator that you're an everyday millionaire. That's right. It's an everyday millionaire theme. Our Chris Hogan Ramsey, personality and author of the book Everyday Millionaires, is my co-host this hour.

As we talk about millionaires and talk to real millionaires, not your brother in law with a political opinion, real millionaires.

How did they do it? Who are they?

Did they inherit it? Did they work for it? Did they do it by hitting the lottery?

What is the best and most sure way that you can build wealth and the time tested process of saying the first stage of wealth building is to become a millionaire?

Chris, sometimes people in Congress and other places where there are stupid people believe that a millionaire is someone that makes a million dollars a year in income.

That is not the definition. Not at all.

Dave and I want to break it down. You want to take what you own minus what you owe so that what you own the money in your bank account, the money in your 401k for O3b cars, all those things, add it up and subtract out what you owe on any debt.

And that net number, if that final number is a million dollars or more than congratulations, you are an everyday millionaire in a political season like we have been in and in a season in this country where we try to find things we don't like about each other. Division. Hmm. We try to find things to divide up.

One of the things that has happened is a war on success. When I was growing up, you were taught to work hard, save your money, be excellent and become successful. Now, when you do that, you're evil.

Yes. Yeah, you've got a target on your back. And I talk about that in the book. And I think it's a result of this victim mentality where it's really easy to try to blame something or someone if you haven't achieved something. And in reality, what it is, it's more about being intentional. It's about personal responsibility, looking inward and owning it, what you did or what you haven't done, just owning it, but then making a decision that, hey, this is my start point, this is where I'm going to go from now.

And so I think if you all listen to the news and you watch, you'll hear this victim mentality, you'll hear that jealousy, that spite that's coming out. And, you know, that's a shame because we are taught to win. Yeah.

Instead of I will leave the cave, go kill something and drag it home. Right. It turns into I must take something from someone else who has earned it. Yeah. But of course they have to set up the complete lie that has been told over and over again that the vast majority of people with wealth in America inherited it.

Yeah. And actual research. Not your brother in law's opinion. Actual research says otherwise.

It really does. It showed us that almost seventy nine percent of the millionaires that we studied, we talked to over 10000 of them. Right. Seventy nine percent did not inherit a dime. These were all people that were first generation millionaires, by the way.

That's how eight out of ten. That's all. That's all of them. And so you hear this and you go, whoa, hold on a minute. They didn't just have something handed to them. These were people that worked and built it over time.

And you guys, another five percent got an inheritance after they were already millionaires, ran another five percent, got an inheritance that was not large enough to matter to call.

They got the five thousand dollars from their grandma. That's right. Or something like that. So they did inherit money. But so we're we're now up to eighty nine percent. Right.

Of the people that are millionaires in America with the largest study ever done, airtight research techniques and shut the crap up. We did this right.

I'm really not listening to your bellyaching. No. Did not inherit their money. Now, if you are a millionaire and you did inherit your money, we're not mad at you because I fully intend for my children to be millionaires when I die because I worked hard and left it to them. So that is not evil. And it doesn't make my kids evil. No, not at all. They were not born on third and thought they had a triple.

But the key is, is to understand it. And we got to chop down these myths because otherwise people think that they're excluded from becoming it because they didn't go to a prestigious school here. Me with this, the student loan debt, one point seven trillion. Sixty two percent of these millionaires went to a public state university and they go to some fancy school, eight percent went to a community college, nine percent didn't go to college at all. So college has no prerequisite on what you do with your money.

It's about knowledge. Yeah.

And it just turns out they did simple stuff. So we're going to hear that from them as we talk to them. The first one up. If you're a millionaire, by the way, call we want to talk to you regardless of where you got your money. No shame. And no matter where you got it.

No, we want to hear the real story from real people, not a bunch of political crap. And so the phone numbers, triple eight, eight to. Four, five, five, two, two, five. Up first is Randy in Dallas, Texas. Randy, what's your net worth, brother?

Oh, my net worth is about two point two million. Cool. Very cool. How are you? I am 65.

65000 are 65 years old. OK, and how much of the 2.5 million did you inherit?

I inherited about 70000 after I had accumulated well over a million.

OK, so you fell in one of those five percent bracket, so I was talking about a while ago. So your mix on the two point two million kind of give me the breakdown. How much mutual funds are in retirement? How much real estate, that kind of stuff?

OK, the majority of it is in my 401k. One point eight million in a 401k retirement account.

OK, and the other 400 at two hundred thousand is in two other mutual fund investments outside the 401k. And with two hundred thousand in savings, you own a house. I do own a house. So that's not even included in that. That's not included in this. This is pure cash. OK, and what's your home worth? My home.

The appraised value is one hundred eighty thousand. The house and the property is 60. So total property house 240000.

OK, and so that would show that's going to put is that paid for estate. Paid for a long, long time ago. All right, good. So what was your career?

My career in health care. Allied health. OK. Oh, I started for this company I'm working for. I've been employed here for well over 40 years. Wow.

And what was your range of income, your best year household income, your worst year household income? My worst year. When I started my career, I made about fourteen thousand a year. OK, and your best your best year was one hundred and fifty thousand. OK, take my income over about 35 years. I average about 90000 a year. That's amazing.

Randy, did you go to college? Two year college. Two years. Three years. So degree. Yup. Do you remember your GPA?

Oh, probably two point eight three. OK, I made the dean's list last semester.

All right. I like that. And do you does your household do any giving?

Yes, we do. We do significant giving. So what advice would you give to the 25 year old version of you out there?

Listening to the 25 year old Virgin is obviously number one to start contributing to a four one K at your earliest opportunity. Always contribute to it. You know, there's people who have hardship in their life and they stop giving or start contributing to the 401k and never stop. I think for one case became available in about 1980, and that's when I started contributing. I think I started out getting about four percent. And fortunate for me or for the for me, the longer years of service you with somebody, the more the company match was making sure you are an absolute rock star.

I'm honored to speak with you. Thank you for calling in. Slow and steady wins the race. The tortoise beats the hare every freaking time.

Those. Hey, folks, it's Ken Coleman. I love my burst sonic toothbrush. Studies show that smiling improves your physical and emotional health and makes you more likable. The soft charcoal bristles powerfully remove plaque and will make your teeth whiter, your smile brighter, and your impressions better and better. Smart and affordable replacement head subscription is just six dollars every 90 days. Visit burst oral care dotcom and use the code can grab a burst brush for as low as forty nine ninety nine.

That's burst oral care dotcom.

It's an every day Millionaires' theme, our Chris Hogan Ramsey personality is my co-host as we talk to real millionaires, regardless of where your money came from. We want to talk to you because we want to dispel the mythology that is out there regarding millionaires.

Open phones at triple eight, eight to five, five, two to five. We're going to put you on if you have a net worth of a million dollars or greater. One of the myths that we discovered that people believe when we interviewed the general public doing the study was they thought that you had to have an inordinately high GPA.

Mm hmm. Like a four point two or something. Had to be supersmart. Yeah.

Or you had to have a degree in finance or you had to be a doctor. You had to be a lawyer or attorney or you had to be a professional athlete. Yes. Or a rock and roll star. Or you had to be a famous actress or actor.

And it turns out that all of those people that I just mentioned put together amount to less than two percent of the millionaires. All the NFL, all the NBA, all the doctors and lawyers that are millionaires and a lot of them aren't. That's right.

And all the actors and actresses that are millionaires and most of them aren't. Yeah. And all the music moguls that are millionaires and most of them aren't.

I'm friends with a lot of them. Right. And believe you me, they all say, I wish I had learned it. Yeah. But when I was 23 and I had that first hit, you know, and so don't end up that way.

All those people put together don't amount to two percent of all the millionaires. Most of them are the last guy they called. Yeah.

Oh yeah. Very understated. Regular average, everyday people, not flashy. They're not sitting in front of the fancy car. Then I don't own a big house. These are people that have invested consistently over time.

Richardson, Washington, D.C.. Richard, your net worth. It is just a little over one million.

All right.

You did it rang the bell. And how old are you? I am 34 years old. Oh, good for you. You did a quick go, so give me the breakdown on the one million howzit invested or what's the categories?

So it's about 50 percent is in for one K. Roth IRAs and then the rest is in brokerage accounts, all in low cost index funds and no house.

No house, no. OK. All right, so brokerage account, so invest in good for you. Right.

And how much of this million did you inherit, Richard? Zero of it. OK, very cool. And what has been the range of your income during your working lifetime? I would say the average has been about seventy five to eighty thousand a year. OK. So where did this money come from? I just consistently started saving right after college. All I mean, like you save everything. I did I lived very frugally, I had roommates and just kind of had a goal of wanting to not have to worry about money beyond a certain age, and so just kind of focused on that and also benefited from a good bull market the last 10, 10, 11 years.

Where did this drive come from? Were your parents not good with money? No. So my my dad was one of those doctors that was kind of good with his money, and I'm the oldest of six kids, and he gave each one of us a copy of the richest man in Babylon when we were about well, when I was about 11 years old and something just clicked. And I was listening for a guy at the break company.

We sure did. That's impressive, Richard. Seriously, what is your career?

I've done military really so focused on logistics and things like that, but military since I got out of college. Got you.

And what was your degree in? Business Administration, business admin and do you remember happen to remember your. It was right about three point ninety six, I think, right about three point ninety buddy going around that up. OK, go give yourself that point for you. Tell me you were a 4.0 student. That's fine. But if you do any giving, because you obviously are an incredible saver.

I did I I've worked with my siblings and helped family out when they needed help getting through college and also with the church.

Hmm, very good. Very good. So what do you attribute this to? Because really, I mean, you made if we say 10 years at 80000, you made 800000. You got a million in savings.

So what do you attribute this to? No, I would say half of it, half of it is growth on the bull market in it. A lot of its growth on the bull market, a lot of it's just being consistent every month and really I would boil a lot of it down to just not not really caring what other people think so much. My car's worth maybe three thousand dollars. Kelley Blue Book. It runs well. It's kept up and repaired well, but I just didn't have a strong desire for a lot of stuff.

Yeah, but get this.

OK, so we're talking you started investing in 2010 as the market is at the bottom, coming all the way back from 6500 down to your timing was amazing. And you're a tightwad.

I mean, you just you hit the dadgum jackpot, man.

I'm so proud of you. I bet your dad is proud of you. Yeah, they they are. Yeah, that's so neat. Well done, sir, very well done. Thanks for sharing your story.

That's a great story.

It really talks about, you know, 2008 stock market go. This guy starts his career at the bottom at the exact time this thing hits bottom and comes up and starts investing.

And he rode that thing all the way up from 6500 to 30000 now and four years old.

Yeah. Ding, ding.

But notice his dad talking to him and sharing information with him at a young age. Did you hear what he said? At age 11 and 12, something clicked.

I read The Richest Man in Babylon when I was 12. Really? Yeah, same thing.

And not because our parents were rich. They were just into motivational speaking stuff and those guys were always selling that book.

Well, the key is his parents have the conversation with your young people, begin to share it with them, help indoctrinate them the right way. Yeah, he's on the board.

Dan is in Spokane, Washington. Hey, Dan, what's up? Tell me your net worth.

Well, I'm doing pretty good. My net worth about one point nine. OK, cool. Break that down for me by category.

Well, about a million of it's in real estate, our our home and our farm. And we've got a rental and about 850 and mutual funds and about one hundred in cash. OK, very good. How old are you. Fifty eight. All right. All right. Cool.

How much of this did you inherit? Nothing. Zero. Nothing. All right.

And what of the what was your best year of working income and household income and worst year household income?

Probably this last year was our our best year. And we're going to do right about 150 and we're sure is probably right out of college at about 17. OK, cool. What is your career? I'm a teacher. OK. And then we farm on the side.

By the way, folks, teacher was the number three of the top five categories are career fields. Are people who became millionaires just as an aside.

Hey, Dad, what was your GPA 3.0?

Right. Right out three point same. My high school. Same college.

Very good.

And does your family do any giving it so much fun to do? Yeah, especially now. It's just that we just had a great weekend and just like everywhere we went was just so fun to surprise waitresses and, you know, it was just a lot of fun. That's my favorite. I just love it.

Way to go. So what advice have you got to a 25 year old teacher that graduated from school this year?

Just starting his or her career, especially in teachers, is getting started early? I mean, it's it's I think one of the reasons that teachers do so well in this game is that it's systemically put into our systems and we're exposed to a lot of financial education as part of our job. And it's encouraged and get started early. I'd I encourage a lot of young teachers to, you know, 50 bucks a month is doesn't seem like a lot, but.

So you sound like you think it can still be done in today's America. Oh, absolutely. You just got to get started. I absolutely did.

And don't get paralysis of the analysis.

Ready, aim, aim and shoot something. Do it. Oh, my gosh. People just sit around, talk about their flapping their gums. Just do it. Why did it go down? I'm so proud of you. You're dadgum hero, man. Well done, school teacher. People everyday millionaire. Don't tell me you can't, but you can tell me. Right. Four year old military. It's available. Chuma need. This is the Dave Ramsey Show.

Every 26 seconds, there's a break in in this country, think about it. That's why I recommend simply safe home security with simply safe. You can protect your whole home around the clock and it only takes 30 minutes to set up. Plus, you don't have to worry about contracts, hidden fees or installation costs. And right now, get a free security camera, plus a 60 day risk free trial. When you order a new system at simply safe direct dotcom, there's nothing to lose.

Go to simply safe direct dotcom today.

It's an everyday Millionaires' theme hour here on The Dave Ramsey Show, Chris Hogan, author of the number one best selling book, Everyday Millionaires Ramsey Personality, is my co-host today as we talk with real millionaires, how they got their top three jobs of millionaires.

Number one, engineer. Number two, accountant. Number three, teacher. Yeah, guess who did not make the top five medical doctors seven. They made the top 10, but not the top five. Very interesting. There is a lot of stuff going on there.

96 percent say they enjoyed what they did for a career. 64 percent say they loved their jobs. A tip of the hat to Ken Coleman. The average millionaire pays off their home in eleven point two years. And the two components that typically add up to their one dollars million or greater net worth if their net worth is under 10 million, is their 401k in their home? Hmm. A paid for home of 500000 and a million dollars in the 401k would be the normal line up for somebody with a and a half dollar net worth.

Now you start out talking to somebody with a 20 million dollar net worth and greater, that kind of a thing. You get a whole different picture on that. But that's where it was most.

The average age that they became a millionaire was 49.

That's the average means half above half. Well, not half, but roughly half above, roughly half below. So there is a lot of millionaires in their 30s. Yeah. The 34 year old we talked to a while ago was unusual, but not unheard of. And so not unusual at all for somebody about 50 years old to hit that mark. 97 percent of millionaires when surveyed said they control their own destiny. When we surveyed the general public, only 62 percent thought they did well.

Isn't it interesting big people who have controlled their own destiny think that you can and those that haven't think that you can't.

It's kind of the old Henry Ford quote, if you think you can or you think you can't, you're right.

So and the interesting thing, too, we did not see a it did not split out equal to the population, split exactly on racial lines, but we did see a substantial percentages that prove that women, minorities are that the American dream is alive and well.

Racism, sexism is alive and well also. Right.

But it did not prohibit or mean that it was impossible to write for someone of a minority status or one woman, another minority, I guess, to become that.

As a matter of fact, on the stage at Business Boutique the other day, Christi had two different women billionaires. Correct? Billionaires with a B? Yes.

And we had Sara Blakely on a while back to billionaire with a B. Spanx lady. Mm hmm. One of the youngest women billionaires in American history. Matter of fact, just all about not looking fat.

Yeah, well, Spanx. I mean, know I know you are not listening. Listen, keep moving. I'm not I'm not a diplomat. I don't.

OK, well, it was I tell you what made her a lot of money. I know.

Yeah, it sure did. But here's a lot of people need the help. So I'm thinking, OK, here's the deal.

Bottom line is, is we get an opportunity, regardless of where we come from, we get a say in where we're going and where when we arrive. And I think that's so important for us to remember today. As we remember when Condi Rice was with us.

Yes. That quote of hers is a yes, a rock star quote, no, it really is said that she essentially was saying, doesn't matter where you come from, what matters is where you're going.

And that's what her parents taught her growing up in a segregated, segregated Birmingham. Yes, Alabama, where you can imagine she was called everything but Condoleezza, but that didn't set up to be an excuse for her. It became fuel. And so I just think it's one of those things for us to remind ourselves. There's so much out there that we can't control the weather of the pandemic, people's opinions. We can control what we do with our money and our dreams that's under our control.

Paul's in Omaha, Nebraska. Paul, your net worth?

Well, about two and a half million. Good for you. Let it go. Give me the categories and a breakdown on that.

Brother, we're talking about me and my wife. So you're just talking to me right now. But this was a team effort in one case. And IRS is about a mile and a half, about a half a mile. And non-qualified accounts, mutual funds and a house and cash the last.

OK, well, that's about what I was just saying. OK, how old are you? Fifty five. All right.

And what was the range of your household income? Best year and worst year while you've been working?

Well, I'm going to say between 60 and 190. That's probably the range. So. And how much of the two and a half million did you and your wife inherit? Zero zero. Paul, what's your career it. I'm currently retired, I decided it was time to hang it up. Would you do before you retired?

Mostly trades. I spent a lot of time as a machinist doing an air conditioning type work, and I spent my life with, you know, my name patch on my shirt. It's a boring story.

It's not a it's not. It's got two and a half million at the story. I'm excited about the story. I'm just telling you so. And what did your wife do for her career?

She's a technical person, a computer type person. OK, all right. Very good. Very cool.

And do you all do any giving as a household?

Oh yeah. Yeah. Oh yeah. So, you know, one of the things with all the student loan crap up in the air in college is trying to charge is still sitting there by home and all those people are micro over here, whether you know, the dirty jobs guy the other day we're doing some stuff.

And he started a whole movement to reinvigorate the trades because he says there's more money to be made there. And without spending the money on higher ed, for some people, college may not be the thing. And here you're sitting, worked your life in the trades, as you said, and heat and air and so on. The patch on your shirt with your name on it and two and a half million dollars. I kind of it kind of validates Mike's idea.

Yeah, I like Mike Rowe and then I've heard him talk about that. And there's a lot of truth about. My generation and your generation did, I think, grew up with a different work ethic. A lot of these people, younger people just do not want it. They don't want to come home dirty at the end of the day. And there's money to be made if you're willing to do that. Hmm hmm, little dirt on the. That's my opinion.

Well, I mean, you kind of it's not an opinion. You actually have two and a half million dollars to back up the idea that a little dirt on the fingernails might work out.

Yeah. What is it? You know, it's it's hard work. Like I said, it's kind of a boring story. Save your money, man. Invest your money. OK, so there's a heat in there. You don't want compounding interest, as I've never heard the word compounding interest in all my years in school. Why is that? That's how you get rich. Wow, well, that's true that if you take one of our financial classes that we teach, you actually learn it in high school, but that's one of the few times I agree.

I completely agree. He's right. So there's a heat air check out there within the 20 million people listening to us right now driving in his truck. And he's 28 years old.

Can he still do it? Absolutely, he can do it. Absolutely. You got to start investing. Listen to what everybody tells you. Most people don't have a clue. And another piece of advice I would like to say is one thing I've learned is nothing. Nothing falls into place when you're desperate, when you're broke earning the paycheck. It's you're not going to it's not going to fall in place. It's only going to when you get yourself a position where I don't need a paycheck, a big one will fall into your lap.

It just it it works the opposite of what you said it should. It's crazy. Some of the dumbest.

But things I've ever done in my life is when I was desperate. I agree with you.

Hey, man. Thank you. I'm proud of you. You did an incredible job. And what a great motivating, inspiring call.

America is not on the rocks. Paul and Paul's are out there everywhere where we're going to be.

OK, and you know what? There's I disagree with him about one thing. There's some young ones that do know how to work, but there's some that don't. Yeah, there's been lazy people in every generation. Thank you for saying that. That's true. They're everywhere. But there's also people that kill and drag at home. That's exactly right here, that the American dream is not just alive. It's alive and well and available to you. You just got to grab it.

Ding, ding, baby. It's an everyday millionaire theme. Our the book number one bestseller, if you want to learn how people did it from the study that we did, it's called Everyday Millionaires. The author is the guy sitting beside me. This is the Dave Ramsey Show.

Hours to the day first, John, 318 little children let us not love in a word or talk, but indeed and in truth, Nanette Avery said, talk is cheap. Voting is free. Take it to the polls.

I like that. Not bad. Seriously, listen to Malvin going on.

And if you don't go and you don't give your vote. Then you got a whoosh like I mean, seriously, you've got to go out and do that. Otherwise all you're doing is bellyaching. And that's not helping anybody. We all need to be classy enough to realize our person may not win. And it's OK. Right. You've got to count on you. There's the government's not going to save the day we've seen this time and time again every four years.

They've we go through this. I'm we get a bottle of Pepto and just bring it out every four years. We've got to be smart enough to realize I'm not riding this roller coaster anymore. It's going to get silly. People are silly and half percent of people are crazy. We can't fix them. We need institutionalism, but we can. And it's going to be OK.

Chris Hogan Ramsey personality is my co-host. It's an everyday Millionaires' theme hour. We're talking with real millionaires, asking how they did it. Did they hit the lotto? Are they a professional sports figure? Did they inherit their money or did they save it and work for it? And either way is OK with us. We just want you to get there. Susan, Fort Lauderdale. Hi, Sue.

How are you? Hi, Dave. Hi, Chris. Thanks for having me on today. Sure. What's your net worth? A little over one point five million could break that down for me by category, please.

All right.

We've got about nine hundred thousand in various retirement accounts, annuities. We have some mutual funds, about one hundred and eighty five thousand. And then we have single stocks, very little, about 30000. We have about eighty thousand in cash and then are paid for home.

What's your house worth for twenty five. Four fifty perhaps.

OK, so you're over a million and a half then. OK, well done. You're approaching two. Good job. Well done.

So how old are you. 63. OK, and what was your best year working household income in your worst year. Working household income.

So. Well I'm a saver by nature but this is the second marriage. So my husband and I married in 2002. I was on the journey before that. But I would say our income since we've been together range from one hundred thousand to two hundred and forty thousand.

OK, what do you do for a living?

I'm in sales and marketing for a large retirement community. And what about what your second husband? My husband.

He spent 30 years in the United States Coast Guard and he retired with a full pension in 2012 and he's now currently working for the Coast Guard as a civilian, making more than he did when he worked for them.

Yeah, that's good.

I like that. Yeah. Hey, Sue, did you inherit any of this?

Either one of, you know, OK, not nothing. Very good.

And did you get your degree? Did you attend college?

I did not. Okay. I'll have a high school education, as does my husband.

What is your advice to someone that's listening to us right now? Who Wants to Be a Millionaire? Can they still do it? And what should they do?

They should just be consistent. Save put money away, don't use credit cards, stay out of debt. Then you don't have to worry about getting out of it.

So you said you're a saver. Have you guys enjoyed your life or have you just sat at home and counted coupons?

Oh, no, we're not. We enjoy life. We take we take nice vacations. What's the best vacation you ever took?

Two years ago we went to we went to Europe. We did a seven day Mediterranean cruise and we spent six days in a row. That's no slouch.

No, it's pretty good. Not bad for a safer not bad at all.

I was I was going to ask if you took your husband with you, but yes, we. Yes. So you said we you said we seem to got to got to know this. Anybody that's fought and battle like you all have, what was your biggest financial mistake?

Let's see. We had a couple one well we bought when we bought our first Harley, we we took out the extended warranty, which we haven't done that since. But it didn't pay off because he sold the bike a couple of years later.

But your first Harley, how many years have you bought?

Three. Oh. Good, I love this, and guys are living large. Yeah, and he's got to like you like to say, Dave, he's got himself a big butt truck.

Oh, well done.

So you guys are incredible. You are absolute hero. So very proud of you. Thank you. Thank you so much for joining us and for sharing that story. So, Chris, we had we talked to five millionaires to point to one one point nine, two point five and one point five. So nobody over three million, no fairly tight range age was 65, 34, 58, 55, 63.

Kind of hits our average of 49. It's for those in there.

It's going to be pretty close to that health care military teacher treating their guy. Yeah.

And salesclerk. Yeah. To military in there with Coast Guard included. So two of them with military careers. And there this time nobody that split any atoms with a four point nine, six GPA.

Well, we had one that didn't have a Harvard graduate. No, no. I don't have a Wharton or M.I.T. graduate. I didn't have anybody who had a fellowship that nobody could fill.

I didn't have anybody with six PhDs. Nope.

And Majority Giver's. Now, maybe they don't listen to show. Well, yeah, but the ones that called. That's right. This is our reality for today. It's a small sample, but it does reflect what we found in the study.

It does. And listen to the advice from the people. Contribute to your 401k. Don't care what other people think. Save and invest, stay away from debt. It sounds like people have been listening to the show, Dave, right?

I mean, again, that's the ones that call in. That's right. Oh, that makes sense. Or that we have got contact with our tribe is listening.

And they you know, I guess if you you know, if you're some kind of character and you I don't know, you buy and sell widgets and you made all your money doing some high risk thing, or maybe you're a professional roulette player or something. I don't know. You probably aren't a fan of this because I make fun of you. So you probably wouldn't listen to the show so that that would that would taint the sample of who actually calls them chase them off Ramsey.

But yeah, I mean, they elected to spend their radio time elsewhere and. But that's understandable. I get that. But then the thing that you guys need to understand is 75 to 80 percent of the people we studied in the study had never heard of me. That's right. And so and they reflected also what we found with these five today. That's right. So in spite of the bias of what the show listener or our tribe would naturally have, and that is a fact.

I mean, obviously we would have a slanted listenership and you could make fun of that or say that's not true. But we did. You know, Tom Stanley's book Millionaire Next Door, they did a sample size of 750 and actually it's at 750. Tom's Tom's research was solid. It was his daughter. Sarah still does research and they do a great job with it. But people, the PR people, the Liberals, couldn't take the 750 sample size because they don't know how to do statistics.

And that's actually statistically significant.

If you've had a stat class, you know, this can throw most of your polls are, you know, on the politicians are a thousand one hundred or less. And they're projecting that across a population of 300 million Americans. That's why. So it is a it is significant, assuming your your poll sourcing or your sourcing of the is random and across racial barriers and across regional bias and across careers and so forth. But so we said we're going to do ten times just to make sure that nobody could really criticise it.

We ended up at when we got to 8000, ten times will be somewhere in twenty five hundred. We just kept going and we ended up with ten thousand one hundred sixty five. I believe it.

That's the exact number. And so you can look at this and really the reality is it's showing the truth. And I know many of you growing up, you've had thoughts or maybe you've believe lies from family. We need to know the truth so we can make decisions about rich people.

I've ever heard that. Oh, yeah, that.

Yeah. So we got rich people worked their butts off and saved their money. That's how you ought to finish that cent. That's exactly right. And that's really what it comes down to. But I always heard this other thing, you know, because we, you know, the neighborhood you grow up in, people talk about that's so the book is Every Day Millionaires.

It dispels the mythology. When you are believing a myth and you follow it, you're not going to get to where you're going is. But check it out. Puts this hour the Dave Ramsey Show in the books will be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial piece, and that's to walk daily with the prince of peace. Christ Jesus. Hey, it's Kelly, associate producer and screener for The Dave Ramsey Show.

This episode is over. But if you heard about an event, product or service, it didn't have a chance to write it down. Don't worry. We list everything you've heard about during this episode in the. Our show notes or head to Dave Ramsey Dotcom, thanks for listening. If you're looking for fun and practical ways to save money in your everyday life, you need to check out The Rachel Cruise Show, a podcast from money expert and my daughter, Rachel Cruze.

Hey, guys, it's Rachel Cruz. And I'm so excited to tell you about my podcast. A lot of people are living paycheck to paycheck their end that they don't even know where to begin, but they have this need this want to get in control of their money. And if that's you, you have come to the right spot. So in each episode, you get a ton of inspiration and practical advice. If not, subscribe to the Rachel Corrie show podcast.

Make sure you do it today.

Hear more from the Ramsey network, including the Rachel Cruz show wherever you listen to podcasts.

Hey, it's James, producer of The Dave Ramsey Show. This episode is over, but check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.