Dave Ramsey recently appeared on Good Morning Texas to promote his EntreLeadership business leadership series. During the live segment, he answered rapid-fire finance questions from entrepreneurs and discussed the realities of managing a small business. The appearance underscores the continued shift in his public role from personal finance coach to business mentor, marking a clear evolution of his brand from household budgeting guidance to broader leadership and management advice.
Ramsey has also doubled down on his longtime criticism of cryptocurrency. He dismissed crypto investing as a fad and insisted it is not a real financial strategy, comparing it to “Beanie Babies and emus,” according to TheStreet. His remarks highlight his firmly conservative approach to investing and his preference for traditional assets such as stocks and bonds over high risk and unproven alternatives.
One thing has not changed. When Dave Ramsey talks, many financially focused individuals pay close attention. And Ramsey continues to make bold claims about wealth building. He has said that if you are under 40 and fail to retire a millionaire, the responsibility lies squarely with you.
This post was updated on November 19, 2025 to include recent developments in Ramsey’s career and commentary.
Key Points:
- If you’re currently under 40 and don’t retire a millionaire, it’s your own fault, says financial expert Dave Ramsey.
- One of the top ways most Americans become millionaires by retirement is by consistently contributing to retirement accounts. According to a Fidelity survey, for example, there are more 401(k) millionaires on its platform than ever before.
- Plus, along the way, be sure to check in with a financial advisor for more advice
- Also: Take this quiz to see if you’re on track to retire (Sponsored)
But you still have plenty of time to make up for it, especially if you’re under 40.
One of the most reliable ways Americans reach millionaire status by retirement is simply by contributing consistently to tax advantaged retirement accounts. A recent Fidelity survey shows this trend clearly. The firm reported that as of June, there were roughly 497,000 retirement created millionaires across its platform. Nearly 399,000 Americans also hold at least one million dollars in an individual retirement account. Fidelity noted that the key to building such balances is straightforward. Start early and contribute steadily over many years, according to reporting from CBS News.
If you are not close to those levels yet, there are practical steps you can take.
First, Ramsey recommends that anyone older than 25 aim to save at least 15 percent of household income for retirement, but only after becoming debt free and establishing an emergency fund. That target may feel out of reach at first, but the important part is to begin with something and build up over time.
Second, maximize your workplace match if your employer offers one. If your company matches up to 6 percent of your salary, contribute at least that amount. Ramsey Solutions reports that eight out of ten millionaires participated in their company’s 401(k) plan.
Third, avoid taking on heavy debt and maintain a dedicated emergency fund. Fourth, direct extra cash toward retirement rather than letting it disappear into day to day spending.
Benzinga offered a helpful illustration from Ramsey Solutions. A worker earning eighty thousand dollars per year would need to invest one thousand dollars per month to hit the 15 percent threshold. Putting that amount into what Ramsey calls good growth stock mutual funds could produce more than one point five million dollars by age sixty five. Delaying retirement by five additional years could grow the total to roughly two point eight million dollars.
Throughout the process, it is wise to consult a financial advisor who can help tailor a plan to your situation. Even if you feel behind, there is almost always a path to building a meaningful nest egg. The key is to start, stay consistent, and give yourself the best possible chance.
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