Core Insights - Wealth building is often perceived as exciting but is actually a steady and boring process when done correctly [1][2] - The Ramsey team's "seven baby steps" provide a structured approach to wealth building [1] Group 1: Investment Philosophy - Investing requires steadiness and consistency rather than emotional reactions to trends [2] - Wealth building should not be a fast process; it is about long-term financial principles [2] Group 2: Baby Steps to Wealth - The first step is to establish a starter emergency fund of $1,000, serving as a safety net [3] - The second step involves paying off all debts, starting from the smallest to the largest, to retain future income for personal use [4] - After clearing debts, the next step is to build a more substantial emergency fund covering three to six months of expenses [5] - Finally, allocate 15% of income towards retirement savings, ideally with the guidance of a qualified financial advisor [6]