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CEO making $260,000 a year calls Dave Ramsey with almost nothing saved because his wife spends every dollar he deposits “You make $260,000 a year. You have nothing to show for it. There's a big freaking hole in the bucket. Quit using the bucket.” “She needs to — oh,...

102,652 次观看 • 22 天前 •via X (Twitter)

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Dave Ramsey: How much student loan debt do you have? ​Caller: About $550,000 ​Dave Ramsey: $550,000? ​Caller: Yeah. ​Dave Ramsey: What is your field of study? ​Caller: Medicine. Family practice. ​Dave Ramsey: Why did it take $550,000 to do family practice? ​Caller: Poor decisions and misguided advice early on to not worry about loans. ​Dave Ramsey: Family practice. What are you looking at, a hundred and a half a year? ​Caller: $180,00] starting. ​Dave Ramsey: Why does it take eight years if you're making $180,000? You could live on $80,000, put $100,000 on it, and be done in five years. ​Caller: After taxes and tithing, I'm down to $110,000. We plan to put about $85,000 a year toward it, leaving $20,000 to $30,000 to live off of. With the interest rate, it will take about eight years. ​Dave Ramsey: Your income doesn't go up in your scenario? ​Caller: That is building in a 5% raise every year. ​Dave Ramsey: I think you'll get more raises than that. Can you work ER on the weekends? ​Caller: The place I'm signed with won't let me work other jobs so I don't come in tired. But they said they can put me to work as much as I need. ​Dave Ramsey: You could pick up another $100,000 a year working ER on the weekends if you have the stamina. I want to increase the size of your shovel. I'm not going to accept the eight years; I'm going with a four or five-year plan. And yes, I am going to delay retirement because this is a vast problem.

Traeyz ♠️

1,922,769 次观看 • 2 天前

Caller: I'm $451,000 in total debt. $252,000 of that is student loans, and I have 185 in a home loan. I only bring in $70,000 a year. After pension and all that stuff taken out, it's more like $40,000. I just don't know where to start. ​Dave Ramsey: What do you do for a living? ​Caller: Law enforcement. ​Dave Ramsey: How do you get $252,000 in student loan debt to be a policeman? ​Caller: I went to a private institution because my mother wanted me to go there. I went there originally for finance, didn't do good, so I switched my major to criminal justice, and then eventually went on for a master's as well, which didn't really help my employment eligibility as much as I thought it would. ​Dave Ramsey: Is your mother wealthy? ​Caller: No, neither my mother nor my father. I'm the first in my family to go to college. ​Dave Ramsey: Mathematically, we always look at the ratio of shovel to hole. The amount of hole you're in versus the shovel you have, your debt to your income. Are you married? ​Caller: No, I have a girlfriend who lives with me, and her daughter as well. ​Dave Ramsey: What is this house worth? ​Caller: I actually just purchased it off of a whim. My father passed away and it was the last conversation we had. It was across the street from his house, and he really wanted me to get it, so I jumped in with both feet to honor him. ​Dave Ramsey: So you didn't put anything down, so the house is worth $185,000? ​Caller: Yeah. ​Dave Ramsey: How old are you? ​Caller: I'm 31. ​Dave Ramsey: When are you planning on marrying this girl? ​Caller: She's currently in school to finish up for nurse practitioner. Sometime after that, hopefully after January. ​Dave Ramsey: Does she have student loan debt? ​Caller: She does. ​Dave Ramsey: How much? ​Caller: I'm not sure because she's not really on board with all this. I've tried to bring this up to her when listening to your show recently, and her thing is, "I'm too busy with school and don't want to worry about that right now." ​Dave Ramsey: I think you're the voice of experience that says it's a good idea to worry about it, otherwise you end up up a creek, which is where you are right now, and your paddle is real small. ​You told me in a five-minute conversation of two really stupid financial decisions you made from the influence of your mother and your father. You bought things you couldn't afford with money you didn't have, because of their influence. ​At 31 years old, you're going to have to decide to love your parents but no longer be influenced to do financial decisions based on their opinion, or even your perceived opinion of what your father would have thought. You cannot please these people anymore. They are breaking you. You make $70,000 a year and you're so far in debt you can't breathe. ​Buying a house you can't afford, going to a school you shouldn't have gone to and paying twice or three times as much for an education that you didn't even need to do the job you do. Am I wrong? ​Caller: Right. No, not at all. ​Dave Ramsey: Number one, that influence has to stop. Number two, you can't afford this house as a single guy making $70,000 a year.

Traeyz ♠️

31,663 次观看 • 2 天前