Personal finance guru Dave Ramsey isn't extremely active on social media, but when he does tweet, he utilizes the short-form platform to give succinct financial advice.
On April 28, Ramsey kicked his short-form financial advice to the next level with a tweet listing five bullet points that will make a person wealthy.
- Have a written budget
- Get out of debt
- Live on less than you make
- Save and invest
- Be generous
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Seems simple enough, though people who have followed these tenets and aren't wealthy may suggest that there is more to the equation.
Ramsey's website provides a more in-depth look at his thoughts on the subject, but the blueprint remains the same: follow those five rules and wealth is in your future.
"Trips to visit grandkids, travel adventures and family celebrations at your paid-for home. That’s the kind of retirement many Americans dream about," according to Ramsey. "You don’t have to earn six figures to turn this dream into a reality. But you do have to live and plan today with that goal in mind."
Budgeting is a big one. Ramsey's own survey found that 93% of millionaires say they stick to the budgets they create.
Meanwhile, he says, trying to save and invest while you're still in debt is like running a marathon with your feet chained together.
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