Ramsey Solutions personality George Kamel, who went from $40,000 (£29,600) in consumer debt to millionaire status in under a decade, laid out the full breakdown of his investment portfolio during an appearance on theIced Coffee Hourpodcast with Graham Stephan.

His home accounts for roughly half his entire net worth. The other half is spread across retirement accounts, a taxable brokerage account and cash. No bonds. No treasuries. No cryptocurrency. 'I'm an equities man,' Kamel said.

Kamel co-hostsThe Ramsey ShowandSmart Money Happy Hour. He joined Ramsey Solutions as a temp in 2013, cleared his debts within 18 months through the company's Financial Peace University programme, and paid off his house by 2021. He and his wife live in Williamson County, Tennessee, where the average home price sits at roughly $1 million (£740,000).

The core of Kamel's portfolio sits in mutual funds inside his 401(k) at Ramsey Solutions. His wife, who now stays at home, rolled her old 401(k) into atraditional IRA and a Roth IRA. He holds a separate rollover IRA, and maintains a taxable brokerage account invested in Vanguard index funds. Cash sits at roughly 10%.

'The asset allocation theory is kind of bunk,' he said, explaining why he avoids bonds entirely.

On Bitcoin, Kamel was blunt. 'Close to zero. And by close to, I mean I have zero.' Stephan offered $40 (£30) for a single share of BlackRock's iShares Bitcoin Trust ETF, which Kamel accepted as a joke. 'If you gave me the choice of an S&P 500 index fund or a Bitcoin ETF, I'm going to go index fund every time.'

He automates contributions to his children's 529 college savings plans and brokerage account so the money leaves before he can spend it. 'Paycheck hits, the money disappears. I'm basically living like I'm broke, which is great.'

While carrying a mortgage, Kamel invested 15% of his income into retirement accounts and directed everything else at the home loan. Once the house was paid off in his early 30s, he scaled to 50%.

'We didn't really increase our lifestyle by much,' he said. His family of four runs on approximately $5,000 (£3,700) to $6,000 (£4,440) per month. In a pinch, he could trim that to $4,000 (£2,960).

That margin proved its worth when one of his French bulldogs suffered a ruptured spinal disc. The total bill ran to over $11,000 (£8,140) between surgery, scans, and rehabilitation. A high-deductible pet insurance policy returned $5,000 (£3,700). 'That sucked, but I'm glad we didn't have to suffer financially too,' he said.

Source: International Business Times UK