Ramsey Everyday Millionaires: What’s a Healthy Net Worth at Your Age? Episode Summary | Released June 16, 2025
Introduction
In the latest episode of Ramsey Everyday Millionaires, hosts from the Ramsey Network—including Dave Ramsey, Ken Coleman, Rachel Cruze, George Kamel, Jade Warshaw, and Dr. John Delony—delve into a topic that resonates deeply with many listeners: understanding a healthy net worth relative to one's age. This comprehensive discussion aims to provide clarity and actionable insights for individuals striving to achieve financial stability and wealth accumulation.
Understanding Net Worth
The conversation kicks off with George Kamel highlighting the common curiosity among listeners about their financial standing compared to peers.
- George Kamel [00:15]: “People want to know the raw and the real. Am I doing all right? Where should I be for my age?”
To ensure everyone is on the same page, the hosts define net worth:
- George Kamel [01:25]: “Your net worth is your assets minus your liabilities. So everything you own minus everything you owe.”
George emphasizes that net worth is a measure of financial position, not self-worth, ensuring listeners understand that being above or below certain benchmarks doesn’t determine their value as individuals.
Net Worth by Age Groups
The hosts break down average and median net worth figures across different age brackets, offering a realistic perspective on where individuals stand financially.
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In Their 20s
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Average Net Worth: $113,000
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Median Net Worth: $7,600
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George Kamel [02:08]: “The median net worth is $7,600. That's more like it. That's more accurate.”
The stark difference between average and median figures is addressed, revealing that the average is skewed by high-net-worth individuals, while the median provides a more attainable benchmark.
- George Kamel [03:02]: “A goal to aim for in your 20s... 200 to 250 is like. You get an A plus.”
Setting ambitious yet achievable goals encourages young adults to strive for financial growth.
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In Their 30s
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Average Net Worth: $317,000
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Median Net Worth: $35,000
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George Kamel [03:44]: “A big, hairy, audacious goal. 200 to 250 is like. You get an A plus.”
The discussion highlights the importance of transitioning from paying off debt to investing and saving for the future, leveraging higher incomes typical in this decade.
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In Their 40s
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Average Net Worth: $791,000
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Median Net Worth: $125,000
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George Kamel [05:02]: “Having a million dollar net worth by age 50... that's a pretty decent net worth.”
The gap between average and median net worth underscores the disparities in wealth accumulation, stressing the need for continued investment and savings.
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In Their 50s
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Average Net Worth: $1.4 million
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Median Net Worth: $288,000
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George Kamel [05:15]: “If you're heading into retirement and your net worth... not investing into those retirement accounts.”
Concerns about approaching retirement with insufficient net worth lead to advice on intensifying saving efforts and ensuring investments are robust.
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In Their 60s
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Average Net Worth: $1.7 million
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Median Net Worth: $439,000
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George Kamel [06:19]: “A median net worth of $400,000 in your 60s... That tells me you have put everything else in your life first.”
The conversation highlights the challenges faced by many nearing retirement with modest net worth, advocating for strategic planning to ensure a comfortable retirement.
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Improving Your Net Worth at Any Age
Transitioning from the statistics, the hosts offer practical steps to enhance net worth, applicable across all age groups.
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Eliminating Liabilities
- George Kamel [07:03]: “Get rid of your consumer debt which will increase your net worth.”
Reducing debts directly improves one’s financial standing by lowering liabilities.
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Investing in a Home
- George Kamel [07:04]: “A home will appreciate in value over time.”
While acknowledging that a primary home doesn’t produce income, the hosts emphasize its role in wealth accumulation and forced savings.
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Investing 15% of Income
- George Kamel [07:16]: “Aim to invest 15% of your monthly income and the earlier you start, the more compound interest has time to build.”
Emphasizing the power of compound growth, the hosts encourage consistent investment to maximize financial growth over time.
The Power of Compound Growth
A significant portion of the discussion is dedicated to understanding and harnessing compound interest.
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George Kamel [07:36]: “Only 10 to 20% is what you put in.”
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Ken Coleman [07:51]: “You could have a million dollars, we're not telling you to try to save a million dollars. We're telling you if you save 200,000 over the next 30 years it will grow to a million.”
By illustrating how smaller, regular investments can grow exponentially, the hosts demystify the concept of compound interest, making it accessible and motivating for listeners.
Addressing Emotional Responses to Financial Comparisons
The hosts also tackle the sensitive issue of comparing one’s financial status to others, recognizing the potential for negative emotions.
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Ken Coleman [08:33]: “Be curious, not critical. This is not a time for you to be like so critical on yourself that you feel bad.”
Encouraging a mindset of curiosity over self-criticism fosters a healthier approach to financial growth, where individuals learn from others’ successes without feeling discouraged.
Real-Life Success Stories and Encouragement
George shares a personal triumph to inspire listeners:
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George Kamel [09:26]: “I went from negative net worth to millionaire in 10 years.”
This testament underscores the possibility of significant financial turnaround with dedication and proper strategies.
Conclusion and Action Steps
The episode wraps up with actionable advice:
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George Kamel [06:47]: “Get the house paid off. Make sure that your investments are strong enough to last you another 20, 30 plus years.”
By adhering to disciplined financial practices—eliminating debt, investing wisely, and planning for the long term—listeners are empowered to take control of their financial futures.
Final Thoughts
Ramsey Everyday Millionaires delivers a thorough and insightful examination of what constitutes a healthy net worth at various life stages. By blending statistical analysis with practical advice and motivational anecdotes, the hosts provide listeners with both the knowledge and the inspiration needed to embark on or continue their journey toward financial prosperity.
For those seeking personalized investment advice, the episode concludes with a prompt to connect with a SmartVestor professional through Ramsey Solutions, ensuring that listeners have the resources to take their financial planning to the next level.
Notable Quotes with Timestamps
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George Kamel [00:31]: “Your net worth is your assets minus your liabilities. So everything you own minus everything you owe.”
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George Kamel [02:08]: “The median net worth is $7,600. That's more like it. That's more accurate.”
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George Kamel [03:02]: “A goal to aim for in your 20s... 200 to 250 is like. You get an A plus.”
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George Kamel [07:36]: “Only 10 to 20% is what you put in.”
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Ken Coleman [08:33]: “Be curious, not critical. This is not a time for you to be like so critical on yourself that you feel bad.”
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George Kamel [09:26]: “I went from negative net worth to millionaire in 10 years.”
Connect with Ramsey Everyday Millionaires
For more insights and personalized financial guidance, visit RamseySolutions.com or connect with a SmartVestor professional through their platform.