Did anyone hear the grass cutter on Dave Ramsey today? His net worth is 1.5 million!

[awakenedsoul]

I listened to Dave Ramsey's podcast this afternoon as I was knitting a tank top. The last caller had a net worth of 1.5 million dollars. He earned his living cutting grass! His home is worth about $350,000. I was so impressed with him. He said that he just worked hard and listened to Dave's show every day. He's 54 years old. He invested well and has been very disciplined.

I love stories like that. He and his wife drive cars that are about 10 years old. He's like the guys in the book The Millionaire Next Door. Very inspiring...

Dave said they are going to put his call on Youtube...

[catherine]

No, but I'll listen! I have his podcast as an app on my phone.

[awakenedsoul]

No, but I'll listen! I have his podcast as an app on my phone.

He's on at the end of the third hour of the Thurs. broadcast. (Sorry, not today's...)

[Float On]

Yes, I was listening to the live broadcast on Thursday. Dave was very impressed and the guy was very humble.

[Tussiemussies]

Wow, that sounds great. I think that Landscapers can make quite a good living, but that doesn't take away from what he has accomplished. Amazing!

[Float On]

Key points he stayed a one-man business and worked 6 days a week.
I imagine he took very good care of his equipment and didn't always have the newest 0-turn mower on the block.

[CathyA]

Can one lead a simple life, if they have so much money? What is his goal? What does his $350,000 home look like? (Although I suppose in some areas, $350,000 would get you a small bungalow).
I'm just saying..........what is his motivation in accruing his wealth? What will he do with it? Is he trying to retire early?

[jody]

It just goes to show that its not how much money you make, its how you manage it.

I remember a story I read many years ago about a women that worked at a very meager job, making very little but she saved $87,000 just in her bank account. She knew nothing about interest rates and made no money on her regular bank account. Only later did she find out that if she had put the money in a passbook savings account she could have drawn interest.

The point was that she wasn't saving to amass a fortune, she was simply saving what she didn't need. She led a very simple life.

This story I read was over forty years ago, but I was so impressed I never forgot it.

[awakenedsoul]

Can one lead a simple life, if they have so much money? What is his goal? What does his $350,000 home look like? (Although I suppose in some areas, $350,000 would get you a small bungalow).
I'm just saying..........what is his motivation in accruing his wealth? What will he do with it? Is he trying to retire early?

Oh yeah. He said he grossed about $80.000. a year. As Float On said, he was a one man operation. His business sounded very efficient. His home appreciated to $350,000. I think he bought it for much less than that. I can't remember the exact numbers, but it sounded like around what I spent on my home. I bought it in 1998 for $89,500. and it's worth about $300,000. now. It sounded like a modest home to me. He's not living a lavish or flashy lifestyle.

Most of us that listen to Dave Ramsey are motivated to live debt free, to pay cash for everything, and to be able to give. Dave has you save 15% of your income for retirement. It doesn't sound like much, but for people like this guy, it adds up quickly. The people at this level are also usually "self insured". He won't have to worry when he's older. His wife is provided for, and he has wealth to pass down to the next generation. Cutting grass is pretty physical. If he runs into health problems or has injuries, he will still be just fine.

[awakenedsoul]

It just goes to show that its not how much money you make, its how you manage it.

I remember a story I read many years ago about a women that worked at a very meager job, making very little but she saved $87,000 just in her bank account. She knew nothing about interest rates and made no money on her regular bank account. Only later did she find out that if she had put the money in a passbook savings account she could have drawn interest.

The point was that she wasn't saving to amass a fortune, she was simply saving what she didn't need. She led a very simple life.

This story I read was over forty years ago, but I was so impressed I never forgot it.

So true. I am always inspired by people who are so disciplined about saving money.

[awakenedsoul]

Wow, that sounds great. I think that Landscapers can make quite a good living, but that doesn't take away from what he has accomplished. Amazing!

I know. When I think of someone who cuts grass for a living, I imagine that they live paycheck to paycheck. This guy was really successful and hard working.

[awakenedsoul]

Key points he stayed a one-man business and worked 6 days a week.
I imagine he took very good care of his equipment and didn't always have the newest 0-turn mower on the block.

I think so, too. All of that stuff makes such a difference in your profit. He also didn't have to lease a physical space. Most of my money when I owned a business went to rent and CAM fees. He had neither.

[chrissieq]

I think it was a great example of the "Millionaire Next Door" - you can't judge people by outward appearances. My husband was with a friend last week who said "don't you wish you were rich?" DH responded with "We have what we need, we have money in the bank, our kids are in good places, we are richer than I ever thought I would be". His friend was silent.

Dave Ramsey can make me crazy when he goes off on liberals, Democrats, people who have student loans, people who lease cars, etc - but his basic principles are spot on - and his reaction to this caller's comments was awesome!

[awakenedsoul]

chrissieq, I thought it was a great example of the "Millionaire Next Door", too. I think what got me was that cutting grass is physical labor. You don't need a college degree to cut grass. This caller has been doing it for a long time. He's only 54, and he can retire now if he wants. That's freedom. Dave suggests to people who are in debt that they get a side job like cutting grass or delivering pizzas. I think most people assume that would make them an extra $250.00 or so per week. This guy just hit the ball out of the park. He's an unusual person.

I tune out some of Dave's personal opinions. His financial formulas have really worked for me, though. I also enjoy hearing about people's financial situations. It fascinates me.

[pinkytoe]

There is definitely a strong market for people in service industries in certain locales. It seems like we are one of the last remaining residents in our area that cuts our own grass. The going rate is $75 for an average lawn so an industrious person has the potential to do well. Ditto - dog walkers, pet sitters, house cleaners - if you service a higher income clientele.

[ToomuchStuff]

I've known a few grass cutters. One high school friend, became a LEO, and has a grass cutting business on the side, and he makes more money having people work for him, cutting lawns. One turned his business into a nursery and landscaping business, then sold it for a LOT of money. The money made him go off the deep end and he lost it all and brought down his father with him (left his father owning only a dog). The third is a LEO friends kid, who started with a mower, now has a truck, trailer, and commercial mowers, and isn't done with high school yet. There has always been good money in it.