The Boring (But Proven) Path to Building Real Wealth | Dave Ramsey EP 892

The Daily Motivation

Lewis Howes

Education, Self-improvement

4.8 • 893 Ratings

🗓️ 15 February 2025

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"No one wins anything accidentally. It's an intentional act. Winning always is at marriage, at taking care of your body, building a business, you know, money, no one accidentally gets wealthy." - Dave Ramsey Drawing from decades of studying millionaires and personal experience with financial failure, Dave Ramsey cuts through the noise of get-rich-quick schemes dominating social media. Through candid conversation, he reveals how our brain's natural desire for efficiency often leads us astray, pushing us toward flashy investments and shortcuts instead of proven wealth-building principles. Ramsey shares how his own early real estate ventures crashed when he tried to take shortcuts, teaching him valuable lessons about sustainable wealth creation. The financial expert unpacks five time-tested principles for building lasting wealth, backed by North America's largest millionaire study conducted by his team. His research reveals a surprisingly simple pattern: most first-time millionaires achieve their wealth through a combination of paid-off homes and consistent 401(k) or Roth IRA investments in quality mutual funds. Ramsey emphasizes that true financial freedom comes not from crypto or NFTs, but from fundamental practices like living below your means, following a written budget, and staying debt-free.

Transcript

Click on a timestamp to play from that location

0:00.0	There are two big things happening at one time that I've never done before.
0:04.5	I'm going on a book tour for my new book, Make Money Easy, and I'm doing a podcast tour at the same time.
0:12.0	It is going to be big, and I'm going to seven cities in 10 days.
0:17.0	Get your friends, get your family, bring everyone you know to these cities. I'm coming to
0:22.3	Austin, Texas, New York, Boston, we're going to Nashville, then we're going to Los Angeles,
0:28.9	San Diego, and San Francisco. Make sure to get your tickets right now. Go to Lewishouse.com
0:34.1	slash tour. Again, bring everyone you know if you're looking to create more financial freedom and abundance
0:39.7	to your life.
0:40.4	And you want to see a massive guest live on the School of Greatness Show.
0:45.1	Get your tickets.
0:46.1	I can't wait to see you there.
0:47.9	Hi, my name is Lewis Howes.
0:49.4	And welcome to the Daily Motivation Show.
0:57.0	Music Welcome to the Daily Motivation Show. What are a few things people can start doing to increase the odds of wealth over time, to increasing the odds? Is it something mentally they can do, spiritually they can do? Is there something in their relationships they can do differently to increase the odds?
1:15.0	Well, I think the first thing is you have to have, I mean, we were sitting in one of our leadership team meetings yesterday, as a matter of fact, here at Ramsey.
1:24.7	And we were looking at a business unit.
1:26.6	And they kept going, well, we need to do
1:27.8	this, we need to do this. And we did not have agreement on the baseline data of what was actually
1:34.1	going on. One person thought one thing was going on, one thought another was going on. And I said,
1:38.1	we got to back up. We got to put data in front of us. And once we all agree on exactly where we are,
1:42.7	then we can discuss where we're going.
1:45.0	And I think, you know, building wealth or having a high quality life in any area is a little bit like that.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Lewis Howes, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Lewis Howes and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.