Dave Ramsey Host George Kamel: What It Really Means To Be a Millionaire
Written by
Yaël Bizouati-Kennedy
Edited by
Nicholas Morine
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Dave Ramsey host George Kamel recently explained in a YouTube video what it really means to be a millionaire. Being a self-made millionaire at 34, Kamel said in a blog post that, “After falling for money traps over a decade ago, I climbed out of that mess through a proven money plan.”
“Within 10 years, I went from negative net worth to debt-free millionaire. And if an average George like me can do it, I know you can too,” he said.
So, What Does it Mean To Be a Millionaire?
According to Kamel, most millionaires “drive four-year-old cars and the top brands were Toyota and Honda,” he said in the video, citing a Ramsey Solutions survey.
“So we have to reframe what wealth looks like and it’s not always visible to the naked eye and that’s a weird thing to think about,” he added.
Kamel echoed what Rasmey also said in a Facebook post, arguing that “Most millionaires don’t drive flashy cars. 69% of millionaires did not average $100,000 or more in household income per year-and (get this) one-third of millionaires NEVER had a six-figure household income in their entire careers.”
According to Ramsey, “When people don’t waste money trying to LOOK wealthy, they have money to actually BECOME wealthy.”
In addition to not favoring flashy cars, Kamel said that millionaires generally live a more frugal life. For instance, he cited the Ramsey Solutions survey, which found that they spend an average $117 per month on clothes while the average American household spends $146. In addition, millionaires spend less than $200 each month at restaurants, “Again way less than the median American household which spends about $265 eating out each month,” he added.
“Most millionaires are just regular people who simply make good decisions with their money because that means it’s not about how much you make, who your parents are or the A Capella group that you were in at Cornell,” he said. “It’s about what you do with what you have that really matters.”
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