← The Ramsey Show Highlights
The Ramsey Show Highlights
Why Should I Invest If I'm Just Going To Die? (Isaiah Steps In It) - Dave Ramsey Rant
00:11:05
Loading summary
Transcript3 lines
- [00:03]
Dave Ramsey
Brought to you by the EveryDollar app. Start budgeting for free today from the Ramsey Network app. Isaiah steps in it. You keep saying to invest $100 a month beginning at age 30 and you'll be worth $5 million at 70 years old. That's the most ridiculous thing I've ever heard. Because the life expectancy of a white male is 72 and for a black male it's 68. That means most people will never leave to live to see $5 million. Help me make sense of this advice. Well, you don't really want me to make sense of this advice because you think it's ridiculous. So let's start with your belligerency. To start with the. But the answer to your question is number one, you have all of your numbers wrong. So it's hard to make a cogent argument when you have your numbers all wrong. We have never said $100 a month from 30 to 70 is $5 million. It's not. It's 1,176,000. And that would be true of 20 to 60 or 25 to 65, any 40 year period of time you wanted to pick. And so you could align that with, okay, start when you get out of high school saving $100 a month at 18 and at 58 you would have 1 million, not 5 million. I never said that. 1,176,000 all. Also, the average life expectancy of a white male is not 72 years old. I don't know where you're getting your data, but the National Vital Statistics System at the national center for Health sciences says in 2023, the average male death age is 75.8 years. 76 years period. Average female is 81 years old when they die. Now that includes infant mortality and teenage death, which we can all agree that most teenagers are not saving and most infants are not saving. So once you make it to age 65, my age and you're healthy, well, not even healthy, once you make it to age 65, on average you will live another 18 years. So the average 65 year old has as a death all males, 76 years. Add 18 to that, it's gonna be 86, 92 years old. So I'm sitting here at 64. The average is that I make it to 92. Once you make it to 65. Okay, so all your numbers are wrong to start with, Isaiah. But at the core of your belligerency and claiming our process is ridiculous is the idea that somehow you're supposed to get rich in 10 minutes or that somehow you're entitled to something or that I'm angry because I don't feel like it's possible for me. And you even throw the race card in there. Because color of skin hasn't got anything to do with your ability to build wealth.
- [03:02]
Unknown
Hey, sorry for the interruption. This is important. No one likes to think about dying. But one day your family will have to deal with everything you leave behind. So the question is will, Will it be easy or a total nightmare? That's where Knockbox comes in. Knockbox is a kit with 15 categories and clear instructions that give your family an organized plan so they're not sifting through old paperwork and guessing passwords and dealing with lawyers. So leave your family memories instead of a mess. Grab your Knockbox kit today@knockbox.com Ramsey for the best discount available. That's knockbox.com Ramsey.
- [03:35]
Dave Ramsey
Because Color of skin hasn't got anything to do with your ability to build wealth. Skin pigmentation doesn't cause wealth building one way or another. It doesn't. And so, you know, you just gotta, you gotta throw that in there though to go ahead and try to create some kind of social justice argument. That's bullcrap here. So the truth is that anyone who saves $100, but by the way, almost no one saves like I would say really close to zero. People save $100 for 40 years a month. Like I haven't saved $100. I've saved a lot more than that. Rachel hasn't saved $100. She wants to save a lot more than that. Right. So just the idea of the, of the investment calculation, saying it's an example, it's an example saying if you'll save money, you can build wealth. You'll build wealth. That's what the example says. But you're like, oh well, no one can get there because they're all going to be dead. It's like, oh geez, son, roll up your sleeves. Live on less than you make. Get out of debt, deny yourself a little bit of pleasure because you're acting like a four year old here. And stay out a happy hour and go put some money in the bank. Quit smoking so much pot. Seriously. And so Isaiah, this is ridiculous. Isaiah. No, I mean the belligerence on this is victim based. It's victim based. This is the most ridiculous thing I've ever heard. It is not the most ridiculous thing I've ever heard. What's ridiculous is your argument because you don't know anything about the numbers that you presented. They were all wrong. That's what's ridiculous. So what's ridiculous is you've used some twisted version and inaccurate numbers to justify your victim existence. That's ridiculous. So you're not a victim of anything but your bad thinking. That's your only victimization. So the truth is, is that the. You know, 89% of America's millionaires are first generation rich. Go get you some boy. It's your turn. Roll up your sleeve. Quit your whining. Be a victor, not a victim. And quit trying to figure out some way that if the whole thing stacked against me, the little man can't get ahead. I grew up with people my whole life saying, the little man can't get ahead. You're always gonna have a car payment. We're stuck. These numbers only work for people that aren't like us. People that are different than me. People that are my race, my color, my neighborhood, my educational background, my history of my family. People like me can't. Oh, sh. Was Eeyore your spirit animal? Come on, man, that's ridiculous. I'm the little man. I started with nothing and I was a millionaire twice. I'm so stupid, I had to do it twice. I got a PhD in dumb and I had to do it twice. So this just this victimized and it's all. It's just seeping in these words right here. It's just running off this page. And I'm not going to talk. It will. It is not. It's hopelessness that you're spreading. You are a hope stealer when you tell people that they can't make it. And that pisses me off because I spend my life giving people hope. And you can do this in America right now, it is the best place, the best economy, the best situation in human history for the little man to get ahead. If at any time you wanted to drop into any society in human history and you wanted to start from nothing and build wealth, this is the best place ever. Any time it's better than 30 years ago, it's better than 60 years ago. It's better than the Roman Empire. It's better than anywhere. You want to drop your little butt and think you can't get ahead. Little man can't get ahead. I promise you freaking Karl Marx isn't going to help the little man get ahead. He helps the big man get ahead. That's who gets him ahead. And so your broke college professor that's teaching you communist technique has got to stop it. This is crazy, y'all. So if you want to win, you can go win. We'll help you. We'll show you how. But we are not going to participate in this is most ridiculous. It means people will never see their money. They're going to die before they get their money. Oh, that's just dumb. It's just ignorant. So hope I wasn't unclear. Nope. That's why I wrote. That's why we did. I was not going to do another book in this space. That's why I did. Baby steps, millionaire. What's the stat of people that come legally into America? They end up winning four times more likely. Four times more likely. They're like, you know, if you come here from another country, under the law, legally, not illegally, you are four times more likely to become a millionaire than someone born in. Than someone born here who believes crap like this. Like the dick stacked against the little man. You just can't. You just can't do it. You're gonna die. You die before you get your money. Oh, brother. So, no, do the stuff, man. Do the stuff. Live on less than you make. Get out of debt, get your butt on a budget and act like a grown up and stop your whining and you can go do almost anything in this country. It's gonna be hard, but it's easier than being broken, mediocre. At the end of the story, you get to win this way. The other way, at the end of the story, you just die broke and wondering what you. I don't wanna work in McDonald's at retirement unless it's the one I own in St. Thomas. You know, seriously, you can do this stuff. It is. And you don't have to be. I'm not extraordinary. I'm far from extraordinary, but I've had extraordinary results. Following God's ways of handling money, having hope in my life, having a sense of abundance instead of a sense of scarcity and going and apply. If you plant corn, the most magical thing happens. Corn grows. And if you plant more corn, more corn grows. So if you plant 100 bucks, you'll get this. If you plant a thousand bucks, you'll get 10 times as much. And you know, most of you are making so much money, 100 bucks you waste driving past some fast food restaurant or Starbucks. You just drive past, they take 100 bucks from you and you even got your food yet. This is. Man, this is so doable, y'all. It's so doable. And I'm not going. You can get pissed at me. If you want to start another Reddit page on Dave Ramsey, have at it. I don't give a crap. Just. Just stack it up there. You know what? Because you're wrong. The proof is in. The social proof is out. 10 million millions and millions and millions of people are doing this stuff. So if you're not doing it, you're just wrong. It's not any harder than that. You're just wrong. Create your free every dollar budget today. The simplest way to budget for your life.