Dave Ramsey: 2 Rules I Learned by Working With Wealthy People

Dave Ramsey: 2 Rules I Learned by Working With Wealthy People

Brooke Barley

Sat, August 29, 2026 at 8:00 PM GMT+3 3 min read

Even the professional financial experts can learn something about money.

Money guru and founder of Ramsey Solutions Dave Ramsey said in a YouTube short that he has learned two things from working with people in the upper echelon. Over the past 30 years, Ramsey has picked up insights about how a person becomes a millionaire and what role investing can play in building wealth.

Here are those two rules and other financial experts' opinions on whether these are solid steps to take for your finances.

Rule No. 1: Wealth Rarely Comes From Inheritance

If you're waiting on a large sum of money to be passed down to you, Ramsey said in the video that sum is unlikely to make you a millionaire.

"That's all mythology and bullcrap," Ramsey said.

Mike Rytelewski, a certified public accountant and wealth advisor at Oujo Wealth Strategies agreed with him, saying there's a very small chance you'll inherit anywhere close to $1 million.

"The older generations are living longer and spending their retirement and invested assets for living expenses or long-term care if needed," Rytelewski said. "Of the inheritances, a large portion is split between a few beneficiaries, not just one. According to research by the CFA institute, the average inheritance received is less than $300,000."

Rytelewski said you're better off focusing on the financial habits you can control and take every day.

"Live below your means," he said. "I have seen people who make millions of dollars annually on their 1040 be stressed out every year because their lifestyle eats them up. It is paramount you avoid this."

Rule No. 2: Wealth Comes From Consistent Low-Risk Investing

Ramsey said that instead of waiting on a windfall of money to come your way, you should start investing in low-risk entities.

"Millionaires do not do super-fancy, weird, extremely risky things and keep their money," he said. "They usually lose everything if they do. The millionaires we've studied are fairly boring. They put money in things they understand and like."

Ramsey recommended investing in growth stock mutual funds and real estate that you can pay cash for.

Rytelewski mostly agreed, saying wealth building can come from low-risk investing as well as other avenues.

"Having equity (ownership stake) in something could outpace your wage increases over time, allowing for a bigger exit down the road," Rytelewski said, and added that you should try to max out your retirement contributions and put excess income in a taxable brokerage account.

Robert R. Johnson, a CFA and professor of finance at Creighton University disagreed with Ramsey, saying it's not specifically low-risk investing that will make you wealthy.

"Counterintuitively, one of the biggest financial mistakes people make is taking too little risk, not too much risk," he said. "The surest way to build wealth over long time horizons is to invest in a diversified portfolio of common stocks."

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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