Podcast Summary: 23 Minutes of Things Rich People "Know"

Podcast: George Kamel (Ramsey Network)
Host: George Kamel
Episode Date: November 19, 2025
Length: ~23 minutes

Episode Overview

In this episode, George Kamel, personal finance expert and co-host of The Ramsey Show, dives into viral videos and social media “advice” about things rich people purportedly know that others don’t. With humor, skepticism, and fact-based debunking, George reacts to a series of TikToks and Instagram clips featuring “rich people secrets,” commenting on everything from LLCs to the power of compound interest. The episode’s main goal: separate wealth-building truth from viral-money-trap fiction, all with George’s trademark mix of snark, encouragement, and practical wisdom.

Key Discussion Points & Insights

1. “Rich People” & Business Credit Myths

[00:21 – 01:02]

Clip: A TikTok finance bro (Victor / Rancor Ventures) touts the “secret” of running personal expenses through an LLC, claiming you can “write everything off” if it’s under a business.
George’s Response:
- “Okay, punch me in the face. This guy is everything that’s wrong with finance TikTok.” (01:02)
- George calls out the legality and ethics: Personal expenses aren’t business expenses, and writing everything off is not how taxes—or financial responsibility—work.
- “Don’t use credit whether you’re poor or rich. I just wouldn’t use credit at all.” (01:02)
- Humor: “I don’t trust a grown man in a tiny beanie.” (01:02)

2. The True Joy of Wealth: Generosity, Not Materialism

[02:40 – 03:11]

Clip: A woman expresses her desire to be wealthy, not to collect designer goods, but to pay for friends’ dinners, vacations, and help family.
George’s Response:
- Praises her outlook: “It’s a great goal... it’s all about generosity.” (03:11)
- Explains that fulfillment comes not from stuff, but from helping and treating others.
- Encourages listeners: “Give more and see how it makes you feel.” (03:11)
- Insight: Successful, trustworthy people are often generous, which opens doors and deepens relationships.

3. Investing Early: The Compound Interest Game-Changer

[04:28 – 06:22]

Clip: A Canadian investor explains, using the stories of “Ben” and “Matt,” how investing $500/month early trumps starting later, even with more money.
Notable Quote:
- Canadian Investor: “Investing is not for the rich. It’s how you get rich. Because rich people don’t work for their money... they use their money to create more money.” (04:34)
- “The best time to start investing was yesterday. Second best time today.” (06:46)
George’s Response:
- “I am shocked to say this, but I actually agree with pretty much everything she said. I am shocked. Shocked. Well, not that shocked.” (06:47)
- Emphasizes getting debt-free and building an emergency fund before investing.
- “In two minutes, she just gave you a masterclass on investing.” (07:00)

4. “Old Money” vs. “New Money” – Habits & Presentation

[08:07 – 10:42]

Clip: Bella Dane, a country club worker, shares subtle behavioral cues of “old money”—full-name introductions, slow/confident speech, quiet luxury, refined tastes, and respectful, attentive presence.
Key Points:
- Old money: “Money talks, but wealth is silent.” (09:47)
- Well-made, logo-free clothes and calm confidence signal true wealth.
- Rich people are genuinely friendly to all staff.
George’s Response:
- “Old money is more quiet wealth. It’s not as showy...it’s kind, it’s generous.” (10:44)
- “Stay off your phone, don’t act like you’re in a rush.” (10:45)
- Not necessarily a wealth-building blueprint, but valuable social cues.

5. Millionaire Mindsets: Investment Priorities & Self-Employment

[12:03 – 14:13]

Clip: Hannah Chan claims millionaires avoid primary homes as investments, prefer business investment, and use credit card debt “responsibly.”
George’s Response:
- Criticizes surface-level “cash-rich investment” thinking:
  - “A business? It’s 90 hour weeks, lady. I don’t know where you got this information...” (12:53)
- Clarifies home ownership: Not a cash cow, but stabilizes your expenses long-term; best if paid off before retirement.
- Strongly opposes leveraging credit card debt: “Ignore everything she said.” (14:13)
- “This whole vibe is like the female version of finance bro, that makes me want to throw up a little in my mouth.” (14:13)

6. Rich People Habits: Health, Planning, Privacy, Continuous Learning

[15:38 – 17:10]

Clip: Genesis, after hanging around with rich friends, observes:
- Daily fitness routines (30 mins+)
- Rigorous time management (“plan their days to a T”)
- Dedicate 30+ minutes/day to personal growth (books, pods, YouTube)
- Extreme privacy; value-building relationships only
George’s Response:
- “You would want to emulate [the rich who] do these kinds of things.”
- Emphasizes discipline, planning, and proactivity as core to success.
- “They’re not reactive. They are proactive. They plan things out in advance... And because of that, they’re just more on it.” (17:10)

7. The Power of Starting Young (Again) – Weekly Micro-Investing

[18:14 – 19:00]

Clip: Nicole outlines how $75/week in your 20s, invested for 10 years, can eventually result in over $1.8 million at retirement, due to compound growth.
George’s Response:
- Runs the real numbers: Confirms that starting early, even with small amounts, leads to exponential growth over decades.
- Visualizes the “hockey stick” effect and underscores the lesson: invest early, get debt-free, build that emergency fund.

8. Bonus: Is It Crazy to Spend More on Your Dog Than Groceries?

[21:02 – 22:54]

Clip: John DeLoney (from Smart Money Happy Hour) jokes about Americans spending more on their pets than on people.
George’s Response:
- Lighthearted pushback: “If they’re paying cash and it’s not derailing other financial goals... it’s their American right.” (21:09)
- Banter over priorities (tattoos, hunting gear, guitars) and the joy pets bring:
  - “My dogs are my life. They are all I have, and I actually look forward to me coming home.” (22:47)
  - “Dogs are not our whole life, but they make our lives whole.” (22:54)
Tone: Playful, affectionate, with a nod to budgeting for what makes you happy (as long as it’s responsible).

Notable Quotes & Memorable Moments

On LLC loopholes:
- “What in the Schitt's Creek are you even saying, dude?” (01:02, George)
On Generosity:
- “It’s all about generosity...what that money can do for the people you love, for your community... It is more than just spending on yourself. Cause that will get old real quick.” (03:11, George)
On Investing Early:
- “Start early. If you start 10 years later and you invest more, you might never catch up to your friend that started investing earlier.” (07:00, George)
On Quiet Wealth:
- “Money talks, but wealth is silent.” (09:47, Bella Dane)
On Self-Employed Risks:
- “A business? It's 90 hour weeks, lady.” (12:53, George)
On Discipline:
- “They’re not reactive. They are proactive. They plan things out in advance... And because of that, they’re just more on it.” (17:10, George)
On Dogs:
- “My dogs are my life. They are all I have, and I actually look forward to me coming home. Of course, I’m going to do the necessary things to prolong their lives as long as I can.” (22:47, George)
- “Dogs are not our whole life, but they make our lives whole.” (22:54, Genesis quoting)

Timestamps for Major Segments

00:21 – 01:02 — LLCs and “writing everything off” myth
02:40 – 03:11 — The joy of generosity over consumerism
04:28 – 06:22 — Compound interest masterclass: Ben and Matt’s investing journey
08:07 – 10:42 — Old money vs. new money social cues
12:03 – 14:13 — Millionaire mindsets: Homes, business, and credit cards
15:38 – 17:10 — Rich people habits: fitness, planning, learning, privacy
18:14 – 19:00 — Micro-investing in your 20s, $75/week case study
21:02 – 22:54 — Spending on pets: budgeting, priorities, and happiness

Conclusion

George wraps the episode with humor, gratitude for the positive lessons embedded in the TikTok clips, and some real talk about what actually works for wealth-building:

“Get debt-free, build an emergency fund, then invest early and often. Be generous, stay disciplined. And if you’re going to take your dog to the spa, just pay cash.”

Episode Vibe:
Lively, skeptical, motivational, shot through with Ramsey-approved financial principles, and loaded with pop-culture zing.

For Listeners:
Skip the financial fads. The real “things rich people know” are timeless: Start early. Spend wisely. Give generously. Live proactively—not reactively. And don’t believe every guy in a beanie you see on TikTok.

If you have videos or stories for George to react to, message guest@georgekamel.com. Want more? Subscribe, share, and check out his next episode.

Podcast Summary: 23 Minutes of Things Rich People "Know"

Podcast: George Kamel (Ramsey Network)
Host: George Kamel
Episode Date: November 19, 2025
Length: ~23 minutes

Episode Overview

Key Discussion Points & Insights

1. “Rich People” & Business Credit Myths

[00:21 – 01:02]

Clip: A TikTok finance bro (Victor / Rancor Ventures) touts the “secret” of running personal expenses through an LLC, claiming you can “write everything off” if it’s under a business.
George’s Response:
- “Okay, punch me in the face. This guy is everything that’s wrong with finance TikTok.” (01:02)
- George calls out the legality and ethics: Personal expenses aren’t business expenses, and writing everything off is not how taxes—or financial responsibility—work.
- “Don’t use credit whether you’re poor or rich. I just wouldn’t use credit at all.” (01:02)
- Humor: “I don’t trust a grown man in a tiny beanie.” (01:02)

2. The True Joy of Wealth: Generosity, Not Materialism

[02:40 – 03:11]

Clip: A woman expresses her desire to be wealthy, not to collect designer goods, but to pay for friends’ dinners, vacations, and help family.
George’s Response:
- Praises her outlook: “It’s a great goal... it’s all about generosity.” (03:11)
- Explains that fulfillment comes not from stuff, but from helping and treating others.
- Encourages listeners: “Give more and see how it makes you feel.” (03:11)
- Insight: Successful, trustworthy people are often generous, which opens doors and deepens relationships.

3. Investing Early: The Compound Interest Game-Changer

[04:28 – 06:22]

Clip: A Canadian investor explains, using the stories of “Ben” and “Matt,” how investing $500/month early trumps starting later, even with more money.
Notable Quote:
- Canadian Investor: “Investing is not for the rich. It’s how you get rich. Because rich people don’t work for their money... they use their money to create more money.” (04:34)
- “The best time to start investing was yesterday. Second best time today.” (06:46)
George’s Response:
- “I am shocked to say this, but I actually agree with pretty much everything she said. I am shocked. Shocked. Well, not that shocked.” (06:47)
- Emphasizes getting debt-free and building an emergency fund before investing.
- “In two minutes, she just gave you a masterclass on investing.” (07:00)

4. “Old Money” vs. “New Money” – Habits & Presentation

[08:07 – 10:42]

Clip: Bella Dane, a country club worker, shares subtle behavioral cues of “old money”—full-name introductions, slow/confident speech, quiet luxury, refined tastes, and respectful, attentive presence.
Key Points:
- Old money: “Money talks, but wealth is silent.” (09:47)
- Well-made, logo-free clothes and calm confidence signal true wealth.
- Rich people are genuinely friendly to all staff.
George’s Response:
- “Old money is more quiet wealth. It’s not as showy...it’s kind, it’s generous.” (10:44)
- “Stay off your phone, don’t act like you’re in a rush.” (10:45)
- Not necessarily a wealth-building blueprint, but valuable social cues.

5. Millionaire Mindsets: Investment Priorities & Self-Employment

[12:03 – 14:13]

Clip: Hannah Chan claims millionaires avoid primary homes as investments, prefer business investment, and use credit card debt “responsibly.”
George’s Response:
- Criticizes surface-level “cash-rich investment” thinking:
  - “A business? It’s 90 hour weeks, lady. I don’t know where you got this information...” (12:53)
- Clarifies home ownership: Not a cash cow, but stabilizes your expenses long-term; best if paid off before retirement.
- Strongly opposes leveraging credit card debt: “Ignore everything she said.” (14:13)
- “This whole vibe is like the female version of finance bro, that makes me want to throw up a little in my mouth.” (14:13)

6. Rich People Habits: Health, Planning, Privacy, Continuous Learning

[15:38 – 17:10]

Clip: Genesis, after hanging around with rich friends, observes:
- Daily fitness routines (30 mins+)
- Rigorous time management (“plan their days to a T”)
- Dedicate 30+ minutes/day to personal growth (books, pods, YouTube)
- Extreme privacy; value-building relationships only
George’s Response:
- “You would want to emulate [the rich who] do these kinds of things.”
- Emphasizes discipline, planning, and proactivity as core to success.
- “They’re not reactive. They are proactive. They plan things out in advance... And because of that, they’re just more on it.” (17:10)

7. The Power of Starting Young (Again) – Weekly Micro-Investing

[18:14 – 19:00]

Clip: Nicole outlines how $75/week in your 20s, invested for 10 years, can eventually result in over $1.8 million at retirement, due to compound growth.
George’s Response:
- Runs the real numbers: Confirms that starting early, even with small amounts, leads to exponential growth over decades.
- Visualizes the “hockey stick” effect and underscores the lesson: invest early, get debt-free, build that emergency fund.

8. Bonus: Is It Crazy to Spend More on Your Dog Than Groceries?

[21:02 – 22:54]

Clip: John DeLoney (from Smart Money Happy Hour) jokes about Americans spending more on their pets than on people.
George’s Response:
- Lighthearted pushback: “If they’re paying cash and it’s not derailing other financial goals... it’s their American right.” (21:09)
- Banter over priorities (tattoos, hunting gear, guitars) and the joy pets bring:
  - “My dogs are my life. They are all I have, and I actually look forward to me coming home.” (22:47)
  - “Dogs are not our whole life, but they make our lives whole.” (22:54)
Tone: Playful, affectionate, with a nod to budgeting for what makes you happy (as long as it’s responsible).

Notable Quotes & Memorable Moments

On LLC loopholes:
- “What in the Schitt's Creek are you even saying, dude?” (01:02, George)
On Generosity:
- “It’s all about generosity...what that money can do for the people you love, for your community... It is more than just spending on yourself. Cause that will get old real quick.” (03:11, George)
On Investing Early:
- “Start early. If you start 10 years later and you invest more, you might never catch up to your friend that started investing earlier.” (07:00, George)
On Quiet Wealth:
- “Money talks, but wealth is silent.” (09:47, Bella Dane)
On Self-Employed Risks:
- “A business? It's 90 hour weeks, lady.” (12:53, George)
On Discipline:
- “They’re not reactive. They are proactive. They plan things out in advance... And because of that, they’re just more on it.” (17:10, George)
On Dogs:
- “My dogs are my life. They are all I have, and I actually look forward to me coming home. Of course, I’m going to do the necessary things to prolong their lives as long as I can.” (22:47, George)
- “Dogs are not our whole life, but they make our lives whole.” (22:54, Genesis quoting)

Timestamps for Major Segments

00:21 – 01:02 — LLCs and “writing everything off” myth
02:40 – 03:11 — The joy of generosity over consumerism
04:28 – 06:22 — Compound interest masterclass: Ben and Matt’s investing journey
08:07 – 10:42 — Old money vs. new money social cues
12:03 – 14:13 — Millionaire mindsets: Homes, business, and credit cards
15:38 – 17:10 — Rich people habits: fitness, planning, learning, privacy
18:14 – 19:00 — Micro-investing in your 20s, $75/week case study
21:02 – 22:54 — Spending on pets: budgeting, priorities, and happiness

Conclusion

George wraps the episode with humor, gratitude for the positive lessons embedded in the TikTok clips, and some real talk about what actually works for wealth-building:

“Get debt-free, build an emergency fund, then invest early and often. Be generous, stay disciplined. And if you’re going to take your dog to the spa, just pay cash.”

Episode Vibe:
Lively, skeptical, motivational, shot through with Ramsey-approved financial principles, and loaded with pop-culture zing.

If you have videos or stories for George to react to, message guest@georgekamel.com. Want more? Subscribe, share, and check out his next episode.

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23 Minutes of Things Rich People "Know"

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Summary

Podcast Summary: 23 Minutes of Things Rich People "Know"

Episode Overview

Key Discussion Points & Insights

1. “Rich People” & Business Credit Myths

2. The True Joy of Wealth: Generosity, Not Materialism

3. Investing Early: The Compound Interest Game-Changer

4. “Old Money” vs. “New Money” – Habits & Presentation

5. Millionaire Mindsets: Investment Priorities & Self-Employment

6. Rich People Habits: Health, Planning, Privacy, Continuous Learning

7. The Power of Starting Young (Again) – Weekly Micro-Investing

8. Bonus: Is It Crazy to Spend More on Your Dog Than Groceries?

Notable Quotes & Memorable Moments

Timestamps for Major Segments

Conclusion

Summary

Podcast Summary: 23 Minutes of Things Rich People "Know"

Episode Overview

Key Discussion Points & Insights

1. “Rich People” & Business Credit Myths

2. The True Joy of Wealth: Generosity, Not Materialism

3. Investing Early: The Compound Interest Game-Changer

4. “Old Money” vs. “New Money” – Habits & Presentation

5. Millionaire Mindsets: Investment Priorities & Self-Employment

6. Rich People Habits: Health, Planning, Privacy, Continuous Learning

7. The Power of Starting Young (Again) – Weekly Micro-Investing

8. Bonus: Is It Crazy to Spend More on Your Dog Than Groceries?

Notable Quotes & Memorable Moments

Timestamps for Major Segments

Conclusion