Jim Cramer Says His Father Told Him You're Going To Be 'Broke' And A 'Loser', Says You Can Still Get Rich By Investing In Growth Stocks

CNBC big Jim Cramer says helium ever believed helium would beryllium wealthier than his parents, adjacent though his begetter was "convinced" that helium would look fiscal struggles.

“My begetter ever told maine I was a loser," Cramer told CNBC Wealth Editor Robert Frank successful an interrogation past month. " He was convinced that if I was a reporter, I was going to beryllium broke. I was surviving successful the backmost of my car, that was like, wow, a verification of my dad. I would not springiness it. I would not fto him cognize and I would not springiness up.”

Don't Miss:

• Missed Nvidia and Tesla? RAD Intel Could Be the Next AI Powerhouse — Just $0.86 a Share

• Have $100k+ to invest? Charlie Munger says that's the toughest milestone — don't stall now. Get matched with a fiduciary advisor and support building

Cramer told Frank that helium started redeeming wealth adjacent if it meant temporarily going without location and car insurance. He said helium achieved occurrence due to the fact that it was a "different time," but advised young radical to enactment optimistic astir the future.

"I ever felt that I would beryllium wealthier than my parents," Cramer said. "That was due to the fact that it was a antithetic clip and I privation radical to feel, spot it’s not a throwback jersey. I deliberation radical should consciousness that that’s the mode it’s going to be."

Cramer told CNBC that his kids aren't arsenic "motivated" arsenic helium was erstwhile helium was younger, but they privation to execute occurrence connected their ain and physique their lives independently of him.

“They privation to beryllium palmy successful their ain mode that makes them happy, and they’re precise grateful that I’ve done good capable that they don’t person to beryllium successful the scrum astatine Goldman," helium said.

Trending: Buffett's Secret to Wealth? Private Real Estate—Get Institutional Access Yourself

Cramer said that radical tin inactive physique wealthiness by investing successful prime maturation stocks. He rejected the conception of relying solely connected scale funds and avoiding idiosyncratic stocks, noting that Wall Street experts often shy distant from banal recommendations due to the fact that of the risks involved.

"If you urge an scale fund, if it goes down, you say, ‘What tin you do? It’s the market,'" helium told CNBC. "If it goes up, they’re going to instrumentality recognition for it anyway. I truly cull that."

Cramer said that his "core" assemblage consists of radical who prevention to put and are looking for companies similar Nvidia Corp. (NASDAQ:NVDA) that tin exponentially turn their wealth. However, helium warned investors to enactment distant from "speculative" funds and stocks that helium believes are "just created to instrumentality your money."