"My dad blew $15 million... how do I help him?"

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  • Опубликовано: 27 фев 2014
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Комментарии • 572

  • @italoddd
    @italoddd 5 лет назад +1923

    Bro.... Call your dad, ask what happened, write down every single word, and launch a book called "how to blow 15 millions in 15 years"

    • @codybullington2015
      @codybullington2015 5 лет назад +107

      That would be a book worth reading

    • @jxsilicon9
      @jxsilicon9 5 лет назад +67

      He could make it back on that book.

    • @FFTT
      @FFTT 5 лет назад +13

      @@codybullington2015 They could even make a remake of Brewster's Millions !

    • @nestam6844
      @nestam6844 5 лет назад +21

      That actually an insane idea contac this man.

    • @anguspontin7244
      @anguspontin7244 5 лет назад +2

      *dad

  • @JJs_playground
    @JJs_playground 7 лет назад +1533

    I can't believe his dad didn't put $50,000 aside for his sons' education. jeez.

    • @nietsnethceil4639
      @nietsnethceil4639 6 лет назад +81

      Jameel Ja My dad makes minimum wage and he has enough to put a little aside XD

    • @DiscLuke120
      @DiscLuke120 5 лет назад +53

      Pay for college myself... my parents don't pay for any of it

    • @JJs_playground
      @JJs_playground 5 лет назад +132

      Luke Border this could be understandable if your parents don't make a lot or are struggling. But this guy's dad had $15Million. If he put $100K or even $50K aside to help his son it would have went a long way.

    • @davidoberle137
      @davidoberle137 5 лет назад +36

      LOL. Parents do not owe their children a post secondary education. They owe their children an upbringing that empowers and enables them to function successfully in the world when they reach adulthood.

    • @bighands69
      @bighands69 5 лет назад +65

      David Oberle
      You are correct they do not owe them that but at least they owe them a level of truth such as there will be no money for you when you graduate so you will have to make your own decisions.
      Raising a child, sending them through school , encouraging education then to land it on the child as they are just attending college that the father more than likely encouraged is just sad.
      You cannot say it is not sad or that the child does not have a right to be annoyed. Families are all based on the parents responsibility and choices.

  • @r3vmixman
    @r3vmixman 6 лет назад +1011

    The kid didn't want money he wanted to help his dad. Dave missed the question

    • @cocolina53348
      @cocolina53348 5 лет назад +50

      Yes that made me mad.

    • @luminous6969
      @luminous6969 5 лет назад +16

      He spent it. The end. He just learned a lesson that that was stupid. Doesn't necessarily mean he needs help.

    • @pegasus8873
      @pegasus8873 5 лет назад +18

      I disagree. This is all about money inheritance/entitlement. Can’t blame him for being mad but it is what it is. Wasn’t the kids money!

    • @DrFrostyNutz
      @DrFrostyNutz 4 года назад +11

      @@pegasus8873 I agree. He has no financial responsibility to care for his dad after this stupid mistake, but nor does the dad owe the kid anything after he turns 18. Now it is a virtuous thing and biblical sign of righteousness for a parent to leave an inheritance. So the Dad is, and rightly so due to age, expected to be more mature and virtuous. That being said, if dad and mom now expect son to take care of them going forward they are even more jackasses. It is better to leave no inheritance to your children and make them pay their own way through college than to do those things, but saddle them with the financial responsibility of caring for you in your old age. If you sacrifice being able to take care of yourself when older to "give" the kids anything, you are actually putting debt on the kid. Instead of the debt being to a bank, the debt is to you. The GREATEST thing you can do for your children's adult futures is make sure that you yourself is taken care of in old age.

    • @MKNYC_
      @MKNYC_ 4 года назад +2

      I don't think he totally missed it he just spun it a bit differently than how he asked it.

  • @mithicash1444
    @mithicash1444 4 года назад +578

    Or he could have invested that 15M and lived off of 300-400k interest a year with no need to work for the rest of his life...

    • @kangkim150
      @kangkim150 4 года назад +72

      2% of $15 million is $300,0000. It's not that hard to get 12% these days if you are financially sophisticated.

    • @DonLee1980
      @DonLee1980 4 года назад +25

      @@chessmentrip2293 Do not ever handle your family finances again.

    • @expendable4h002
      @expendable4h002 4 года назад +48

      10% of $15M is $1.5M. Divide it which way you want.
      5% - $750k
      2.5% - $350k
      It’s very possible.

    • @1yasin6
      @1yasin6 4 года назад +7

      right now banks are giving negativ inerest rates

    • @ThePearguru98
      @ThePearguru98 4 года назад +9

      @@chessmentrip2293 He has 15,000,000, not 1,500,000. 3% of 15 million is around 450k

  • @zingeuron5094
    @zingeuron5094 10 лет назад +650

    this kid is smart. I loved it when he said "I love that answer". Kid sounds like he might actually has some self-reliance.

    • @banquetmeal663
      @banquetmeal663 5 лет назад +26

      No it doesnt. It sounds like he doesn't know what to do because his parents cant pay for his college anymore and that he felt he was entitled to a part of that 15mil

    • @JAB2010
      @JAB2010 5 лет назад +52

      Banquet Dinner morally, he was.

    • @Luvisrage420
      @Luvisrage420 5 лет назад +62

      @@banquetmeal663 I mean if you have $15 million you should definitely put money aside for your kids college expenses

    • @WCGwkf
      @WCGwkf 4 года назад +2

      It sounded to me like that's not what he came to hear and he responded just to respond.

    • @kennethho888
      @kennethho888 4 года назад

      rockster10101 yes well said

  • @DrogoBaggins987
    @DrogoBaggins987 8 лет назад +520

    My father also made good money in his working life. Not as much as this guy but it was a lot. He and my mother ran through all of it. Seeing a man in his seventies crying about how much he used to make is a strong object lesson.

    • @mercedeserazo4466
      @mercedeserazo4466 7 лет назад +7

      Drogo Baggins :-)

    • @victoriaheindel1143
      @victoriaheindel1143 6 лет назад +25

      Drogo Baggins My dad is the same way. So he abuses credit cards to maintain his lifestyle. He's already filed bankrupty once.

    • @wholesome122
      @wholesome122 5 лет назад +6

      The same thing happened to my grandparents. They liked to gamble

    • @wadeharris348
      @wadeharris348 3 года назад +6

      I'm all about enjoying your money, in doses. Like if you're making 500k, you can live like you make 200k and still put the rest away. Sounds to me like your parents thought they were entitled to spend money and kept up with joneses.

    • @wadeharris348
      @wadeharris348 3 года назад +2

      And this is coming from someone who has made a lot of money. I'm still enjoying it because I worked hard for my lifestyle. That's like telling Dave Ramsey he shouldn't buy his big house and car. None of your business and he makes his money and can do what he wants.

  • @regul8or71
    @regul8or71 8 лет назад +243

    "I love that answer". This "kid".......he gets it! Respect.

  • @nickt1276
    @nickt1276 5 лет назад +408

    To blow 15 million and not think of saving that money for your son is just selfish. Dad must of have a gambling problem or on drugs

    • @brysoncherry9884
      @brysoncherry9884 5 лет назад +19

      Also selfish of the son to assume he would get even a cent.

    • @peyupsman
      @peyupsman 5 лет назад +37

      Most likely gambling. When I was on drugs im still fine with money. When I got addicted on gambling pooof the money is gone and gone in debt.

    • @hannaw193
      @hannaw193 5 лет назад +3

      Andy Co 😮

    • @Momo7O7
      @Momo7O7 4 года назад +23

      @@brysoncherry9884 So...I shouldn't buy my mom a house?

    • @monkas7270
      @monkas7270 4 года назад +6

      probably an alcoholic

  • @Justrelaxx101
    @Justrelaxx101 7 лет назад +393

    Everyone is saying it's not the son's business since he didn't make the money but I think the son was calling because he is scared he will have to financial care for his parents when they are old because they blew through millions. This is the son's business and he is going to have to have the strength to set boundaries and let the parents sink even if they have to live at the YMCA at 90.

    • @stewdog22
      @stewdog22 5 лет назад +14

      It’s fun to stay at the.... Y.M.C never mind I’m old.

    • @dancer1
      @dancer1 4 года назад

      Live at the y lil

    • @barbararepko4824
      @barbararepko4824 3 года назад

      musiclover1971 And some of it could’ve been put away for the son’s inheritance.

    • @bettyechols6405
      @bettyechols6405 2 года назад

      I haven't seen any comments saying it isn't his business

    • @vaska1999
      @vaska1999 21 день назад

      ​@@bettyechols6405 Oh, I've seen plenty.

  • @LocaW8ta
    @LocaW8ta 4 года назад +50

    The fact that a 20 year even calls Dave says a lot. He’s a smart kid. He’ll be just fine.

  • @JasonfromMinnesota
    @JasonfromMinnesota 8 лет назад +322

    wisdom doesn't AUTOMATICALLY come with age

    • @dakillah6018
      @dakillah6018 6 лет назад +4

      sadly yes/

    • @davidaragon6499
      @davidaragon6499 5 лет назад +11

      The beginning of wisdom is the fear of the Lord

    • @ElaineLoyd
      @ElaineLoyd 3 года назад

      I find that out just now.

    • @def6420
      @def6420 3 года назад

      @@davidaragon6499 Amen!

    • @jamisojo
      @jamisojo Месяц назад

      ​@@def6420what do you all fear in regards to the Lord?
      I'm just curious. Is it just the heaven and hell consequences?

  • @dawnjohnson1965
    @dawnjohnson1965 5 лет назад +59

    that money went up his dad's nose.

  • @cicihoward2595
    @cicihoward2595 4 года назад +54

    My dad blew 2 million within a year when I was a teenager. I don’t know 🤷‍♀️ how he spent that much money but hey it wasn’t mine.

  • @mikew2610
    @mikew2610 5 лет назад +41

    If his parents made that much as a married couple, it’s hard to be the wife would only get $1 million during the divorce.

    • @laurenhill1394
      @laurenhill1394 3 года назад +5

      I believe he said the business blew up right after the divorce and she only got any money because she was a small partner in the business. Sucks for her that it blew up right after the divorce though lol, especially having to watch him blow through all of it.

    • @charlesg7926
      @charlesg7926 3 года назад +1

      @@laurenhill1394 shows that she was a bad woman and a bad wife. Every successful man has a good woman behind him DURING his success

  • @FunnyFlirtTalks
    @FunnyFlirtTalks 7 лет назад +99

    How does he blow 15million in 15 years at 5% interest he would have 750k/ gross income without even touching the principal ...

    • @CalvinHikes
      @CalvinHikes 7 лет назад +30

      Nici Geelhoed people who don't earn money little by little don't really have any knowledge of how to control it. that's why 90% of lottery winners go broke almost immediately. people want to be rich but you can really almost not be made rich. if you don't scratch it out bit by bit in most cases, you'll just lose it.

    • @FunnyFlirtTalks
      @FunnyFlirtTalks 7 лет назад +6

      If I had 100 million it would last me my life and than some /100 ...
      I'm 17 and never really have had money.

    • @xcen1
      @xcen1 5 лет назад +4

      @Thelondonbadger No it was 15 mil after taxes and 1 mil for mom after taxes also.

    • @DonLee1980
      @DonLee1980 4 года назад +4

      I knew of this common sense when I was like 10 years old. $1million with just 4% a year interest would allow you to get 40k a year already. $15mill, even at 3% would be $450k a year, that's top 1% salary, and you usually get to pay less taxes for capital gains.

    • @TheMechanicj
      @TheMechanicj 4 года назад +1

      Hey a Lamborghini in every color available ads up the 2.5 million dollar home costs a lot to maintain landscaping insurance taxes with no money coming in 15 mil is gone fast oh and the gold teeth

  • @jamesjhonson4568
    @jamesjhonson4568 4 года назад +15

    Blowing through 15 million dollars is a behavioral decision, Dave has talked about this a lot, money is 80% behavior 20% head knowledge, this man probably thought that the 15 million will be around for a long time, he probably thought he would always have money, but in reality, money is infinite, it eventually runs out without self control.

  • @johnford5568
    @johnford5568 5 лет назад +25

    [Proverbs 27:22-24] "22 Though you grind a fool in a mortar with a pestle along with crushed grain, Yet his foolishness will not depart from him. 23 Be diligent to know the state of your flocks, And attend to your herds; 24 For riches are not forever, Nor does a crown endure to all generations."

  • @wrongtarget5523
    @wrongtarget5523 5 лет назад +51

    People who *shouldn't* be having kids are having them and people who *should* be having them are not. that is whats wrong!

    • @wanefelicia8779
      @wanefelicia8779 4 года назад +3

      This is how idiocracy has come to life

  • @benwalgate5142
    @benwalgate5142 8 лет назад +271

    Aghhhhhhhhh I love that answer 😂😂👌🏻

    • @th2118
      @th2118 6 лет назад +1

      woodland tomb 😂😂😂

    • @Mom_sBasement
      @Mom_sBasement 6 лет назад

      Can't take it with you. Probably an ungrateful brat anyway.

    • @michaelvargas6341
      @michaelvargas6341 6 лет назад

      He had an epiphany

    • @ransom182
      @ransom182 5 лет назад +2

      What a weird guy.

    • @mattesser5027
      @mattesser5027 5 лет назад

      Yeah that statement was just really weird.

  • @SashaMG
    @SashaMG 10 лет назад +215

    Dad made it,dad spent it.

    • @davesny302
      @davesny302 10 лет назад +33

      Dad is a fool, kid is a fool.

    • @joijoi888
      @joijoi888 9 лет назад +9

      davesny302 so is the mother! She hasn't worked since blowing the money!!

    • @FairScale-tx1qv
      @FairScale-tx1qv 6 лет назад +35

      Dad made it,dad spent it and Dad disappointed his children by not being a role model.
      Why even get married if people think like you do?

    • @pamperedgurl
      @pamperedgurl 6 лет назад +21

      Thus children will have to take care of him when they get older.

    • @thehaitianambassador2159
      @thehaitianambassador2159 6 лет назад

      SasaM Amen !

  • @KMF3
    @KMF3 6 лет назад +86

    I totally understand his emotions my mother who is a hoarder received a $300,000 inheritance from her parents and squandered it all on her hoard which eventually had to be cleaned out a majority of it thrown away. I'm very angry about that just like he is. I didn't find out about it until I was in my late 40s. But it still makes me sick everytime I think about it. Now my mother lives with me because she has no other place to go and she could have been well taken care of in her elderly years if she hadn't squandered that money. She could have made that money grow for her. As it was she even took out a second mortgage on her house so when we went to sell the house she actually had to pay $5,000 in order to get rid of the house.

    • @denvercatwoman6561
      @denvercatwoman6561 6 лет назад +21

      kari KF, that is so sad. I know it has to make you sick. My friend inherited hundreds of thousands of dollars when she was 17 and other than a sports car, spent it all on drugs and rehab. It all had absolutely nothing to do with me, but it still sort of haunts me, someone running through that much money with nothing to show for it.

    • @djhalo9012
      @djhalo9012 5 лет назад +1

      KMF t👻👻

    • @chrisd6736
      @chrisd6736 5 лет назад +7

      Ya this is why your parents’ finances are your business.

    • @raintv4343
      @raintv4343 5 лет назад +1

      Lol... Theres a government department that takes trashed money and they can recover as much as they can from water damage, burns, etc.

    • @KMF3
      @KMF3 3 года назад +2

      @Sponge Bob Hoarders horde different things. My mother hoarded mostly paper. Or she would buy things in the mail and then never open the boxes. As far as trying to add up what she spent $300,000 on I really honestly couldn't tell you. I know that she went on a couple of trips and bought a new car that was fairly modest but other than that I have no idea. It is absolutely amazing what hoarders can waste their money on and have absolutely nothing to show for it in the end.

  • @Xanduur
    @Xanduur 6 лет назад +95

    This all depends on whether the dad promised college money to the son. My grandmother gave me $16K for college and my parents spent $14K before I even graduated high school. Depends on the situation.

    • @xxkissmeketutxx
      @xxkissmeketutxx 6 лет назад +9

      Joe Edwards my parents robbed me too. it hurts, but I hope you've worked it out since then

    • @gamesofcontent
      @gamesofcontent 6 лет назад +11

      Crazy. I'm the exact opposite. My parents had $32,000 set aside for my college. I declined it. Got a .43 scholarship, 2 grants, worked full time, and a student loan. Parents sold the boat and got a new one. I always heard stories about how you learn more and appreciate college more when you pay for it yourself. I have no regrets, glad I turned the money down.

    • @iv3010
      @iv3010 6 лет назад +7

      i Bee Amazin Shouldve invested in a business not the college scam

    • @gamesofcontent
      @gamesofcontent 6 лет назад +27

      22 APVCHE I have always wanted to be an engineer. Now I am. Worth every penny.

    • @iv3010
      @iv3010 6 лет назад +1

      i Bee Amazin I'm glad it worked out for you

  • @joshuawoodford3136
    @joshuawoodford3136 8 лет назад +78

    I think some people missed the kids point of view, and watching a close friend and mother of three waste about 1M also and is now taking out 500 dollar loans from payday lenders had a bankruptcy and car repossession just a few years later after receiving it the son is worried, not mad I think dave missed a little of what the son wanted in this phone call

    • @joyce9857
      @joyce9857 6 лет назад +7

      Joshua Woodford Yes so do I ....I think he missed some of it too....he dont Let folks talk sometime

    • @jculver1674
      @jculver1674 6 лет назад +4

      I think Dave got the point, and his answer was a way of telling the kid "you don't need to worry about this, your dad will be okay, just focus on taking care of yourself."

  • @joycewright5386
    @joycewright5386 3 года назад +1

    I love that: some people are mentors and some are just lighthouses to keep you off the rocks! Dave has great wisdom!

  • @Omikoshi78
    @Omikoshi78 4 года назад +15

    His dad probably inflated the numbers to impress. Probably squandered 1.5 million.

  • @yoyoyoletmehitdat
    @yoyoyoletmehitdat 8 лет назад +92

    this is like the family from arrested development lol

    • @jculver1674
      @jculver1674 6 лет назад +11

      "I've made a huge mistake."

  • @bsolutions525
    @bsolutions525 4 года назад +23

    My parents haven't given me cent to help me out since i left my home at 17 even though they are well off. Now 24 and just got my first home, don't need or expect them to help! I dont owe them anything and neither do they owe me, I prefer it that way

    • @barbararepko4824
      @barbararepko4824 3 года назад

      Boss Some people should never have kids.

    • @bsolutions525
      @bsolutions525 3 года назад

      @@barbararepko4824 yup. Your mom should have swallowed you

    • @jairoherrera4040
      @jairoherrera4040 3 года назад +1

      You must have cold hearted parents. Kevin O Leary's mother payed for his college education until he graduated with his MBA. That's when she declared her role as a mother to be completed.

    • @bsolutions525
      @bsolutions525 3 года назад +1

      @@jairoherrera4040 I wish I had such good parents. Anyway that's in the past, I can do my best for my children

    • @bsolutions525
      @bsolutions525 3 года назад +2

      @Shinshocks In the real world, not everyone has great parents like you.

  • @bmahoney1568
    @bmahoney1568 5 лет назад +26

    It’s not a surprise that the parents squandered the money after hearing how they made it, if the money comes to you to easily, you will not appreciate the value of having money, and you will squander it.

    • @bighands69
      @bighands69 5 лет назад +1

      The money coming to them may not have been easy but it does not change the fact of bad finances.

    • @drkInxgud
      @drkInxgud 5 лет назад +1

      its not about whether you appreciate the money. its about how much financial knowledge you have. ive had friends who won the lottery and didnt blow the money up. why? cuz he's an actuary.

  • @arealmaniac2885
    @arealmaniac2885 7 лет назад +27

    Our family had an occurrence about the same thing. My grandpa was extremely wealthy, and after his passing one of our relatives somehow got ahold of all the millions of dollars, and blew it all in California on beach front properties. Never gave a penny to even my grandma.

    • @denvercatwoman6561
      @denvercatwoman6561 6 лет назад +10

      I'm wondering how buying beach front properties in California equates to "blowing it". What am I missing?

    • @Smullet90
      @Smullet90 5 лет назад +5

      Dan
      Probably not smart to put all your eggs in that basket but I have a hard time imagining that investment hasn't paid off lately.

  • @dermotlawless2612
    @dermotlawless2612 4 года назад +3

    I like the line, some people are lighthouses. Very true

  • @jaxx6712
    @jaxx6712 3 года назад

    Love the classic Dave Ramsey vids

  • @SashaMG
    @SashaMG 10 лет назад +2

    Good point ...learn from dad's experience

  • @KennTollens
    @KennTollens 5 лет назад +15

    Having money makes some people lose their mind. I plotted and planned about what I was going to if I ever had $1000. Then one day I had $1000 and was so happy that I forgot all my plans, they were replaced with what I wanted to spend it on right now.

    • @harveyallen7080
      @harveyallen7080 4 года назад +6

      It had the opposite effect on me. I wanted to hoard my money. Its all mine.

    • @carojames6776
      @carojames6776 4 года назад

      @@harveyallen7080 I'm with you Edward!!!!!

  • @tristyntech3190
    @tristyntech3190 2 года назад

    Dave Ramsey is such a sweet man

  • @LA-fr7fx
    @LA-fr7fx 5 лет назад

    Thank you!

  • @alladreamwedreamed
    @alladreamwedreamed 3 года назад +11

    I'm dying to know what infomercial LOL

  • @World-ky9gw
    @World-ky9gw 5 лет назад +7

    I can relate to this guy, my Dad blew close to a million and deals that could of been a lot of money, now i’m left with nothing, you just wonder how do u blow that sort of money

    • @reviewsgoodnbad7695
      @reviewsgoodnbad7695 4 года назад +2

      DatCurt why did you think you were entitled to anything? Make your own way in life.

  • @wmurray003
    @wmurray003 6 лет назад +37

    Ramsey is right, but I do feel as though the father should feel some sort of "vague" responsibility and guilt in reference to squandering money that could have potentially helped his offsprings for GENERATIONS to come.

    • @vaska1999
      @vaska1999 21 день назад +1

      I agree, and no, I don't think Ramsey's right here.

    • @wmurray003
      @wmurray003 21 день назад

      @@vaska1999 You're right.

  • @ChachiTelevision1979
    @ChachiTelevision1979 5 лет назад +6

    I have no idea how people blow through so much so quickly. It’s insanity.

    • @DevilMadeMeDoIt666
      @DevilMadeMeDoIt666 Год назад

      Only someone who has never made a good chunk of money would say that. The more you have, the more you spend. Been there.

    • @ChachiTelevision1979
      @ChachiTelevision1979 Год назад

      @@DevilMadeMeDoIt666 I beg your pardon - that’s a pretty stuck up thing to say to someone. That aside, what I meant was the neglect of minding one’s financial responsibilities and being frivolous.

    • @DevilMadeMeDoIt666
      @DevilMadeMeDoIt666 Год назад +1

      @@ChachiTelevision1979 well, guess I was right? Did I hurt your little feelings?

    • @ChachiTelevision1979
      @ChachiTelevision1979 Год назад

      @@DevilMadeMeDoIt666 No, this is just odd behavior. Is this how you usually talk to people?

    • @ChachiTelevision1979
      @ChachiTelevision1979 Год назад

      @@DevilMadeMeDoIt666 Actually I was defending myself too much. You’d be right in saying I’ve never made a good chunk assuming we both know what a good chunk is. I do well enough to live well with my wife and family and we continue to work hard toward our future and expanding to grow each year.
      I’m assuming you’ve made a good chunk, which is great.

  • @TheSurgeExclusive
    @TheSurgeExclusive 3 года назад +3

    I can relate. My dad used to make millions during my childhood but he blew it all, never bothered to invest. Currently struggling.

  • @thesunflowchannel1995
    @thesunflowchannel1995 4 года назад +12

    Guess he just grew up thinking college and everything was gonna be surely payed for but the man couldn't handle the instant wealth

  • @Keyodo
    @Keyodo 3 года назад +4

    He should’ve put it in GME😂

  • @seannunemaker5492
    @seannunemaker5492 3 года назад +4

    An example of how you can be a successful businessperson who knows nothing about wealth

  • @paypalservices2724
    @paypalservices2724 3 года назад +3

    Ahhh...i love that answer. Kid thought he was ballin, dave reminded him he is broke

  • @bambinosto
    @bambinosto 5 лет назад +13

    I just want to see a list of everything he spend money on.

  • @pjob123
    @pjob123 6 лет назад +15

    Would’ve been nice if the Dad or Mom had put away just 25g’s in a 529 college investment plan for their son. His college would be paid for now. I think that was what the young man was getting at. He assumed or thought that he would have some $$ for college. Just a thought.

  • @oscarvitlue2922
    @oscarvitlue2922 5 лет назад +8

    This is legit my family....

  • @acgmedical9129
    @acgmedical9129 5 лет назад +1

    You can use websites that will show how much certain companies were purchased for. You can easily find out who was paid what. It’s typically in the settlement unless it’s a private buyout.

  • @xxdavexx23
    @xxdavexx23 6 лет назад +20

    Jesus Christ. My dads business is about to go big too. I'm going stay on top of him with this.

  • @wholesome122
    @wholesome122 5 лет назад +4

    My grandfather blew through a few million of inheritance in the 70’s with gambling. It happens.

  • @catarina81
    @catarina81 3 года назад +3

    His concerns are legit, he was born with money and no financial worries, now that his parents have no money he has to work and struggle, that's hard to have nothing for someone that was born to have it all. Personally my parents were never rich but I was born having all I wanted and after the crisis and the divorce of my parents, I ended up having to work in a supermarket and cleaning toilets, honestly I learnt so much about myself than if I just kept being a spoiled brat.

  • @zeroday7878
    @zeroday7878 3 года назад +31

    how tf do u blow 15mil in a lifetime. what was the dude buying, fighter jets?

    • @fartcannon
      @fartcannon 3 года назад +1

      blow. he was buying blow.

    • @anthonyb2990
      @anthonyb2990 3 года назад +1

      People blow much more than that.

    • @jessejames863
      @jessejames863 3 года назад +1

      its not hard dude. plenty of celebs and athletes burn through their money and go bankrupt. google iverson bankrupt , scott storch bankrupt. scott storch was once worth 80 million dollars and he lost all his money buying cars, yatchs and drugs. some people can't live within their means

  • @jusbcurlee
    @jusbcurlee 7 лет назад +45

    Did they invest with Madoff?

    • @bighands69
      @bighands69 5 лет назад +5

      Probably had an elite lifestyle and never thought the money would run out. Probably also had lost of business investments that sank.
      Also while the mother got 1 million there probably was child payments and alimony. $15 million sounds like a lot of money but it is not when there is poor finances.
      I am sure millions were spent on property as well.

  • @jamesjhonson4568
    @jamesjhonson4568 5 лет назад +8

    This episode was a real learning experience, it is what Dave talks about in his other podcasts about a behavior toward money, the man and his wife who blew the millions on god only knows what, just exhibited the very exact careless behavior that Dave has been talking about.

    • @bighands69
      @bighands69 5 лет назад

      Bad finances is bad finances no matter how rich that person is.

  • @excelrange4246
    @excelrange4246 6 лет назад +3

    Dave Ramsey does it again!👍

  • @robertbell525
    @robertbell525 3 года назад +5

    I have learned a lot of what not to do by watching my parents.

  • @sanjosemike3137
    @sanjosemike3137 3 года назад +1

    I had an experience many of you have: I was only 8 years old. We couldn't afford to go out to restaurants then, but about twice/year. I looked at the menu, both the food and the side where the bill was. I had a Eureka moment. I REALIZED that only I would be able to pay for myself as an adult. Nobody else would or could. It would be up to me. There would be no inheritance. I grew up in two minutes. I bet something like that happened to you too. It would be interesting to hear your story.
    Sanjosemike (no longer in CA)

  • @masteroogway8453
    @masteroogway8453 4 года назад +3

    People wanna be rich but cant handle the responsibilities that comes with

  • @theultimatetowerofterrorre301
    @theultimatetowerofterrorre301 3 года назад

    I had a landscaper that inherited a million dollars over fifty yrs ago when he was 21 and newly married. He told me in a year he had spent it all, but BOY did he and his wife have a great yr!

  • @trillj8636
    @trillj8636 5 лет назад +4

    My father owns a business and he has about 9 million saved. That’s great for him but I always thought about it as that’s good for him because that money isn’t mine which some kids grow up thinking their parents money is theirs and that’s wrong. I payed my college tuition on my own. Only help I ever had from my father which we are on good terms and have a great relationship is he put my apartment under his name because my credit score wasn’t high enough but I pay for rent. Idk people should do things in the own is my opinion.

  • @aldelgado9343
    @aldelgado9343 5 лет назад +1

    uncle dave looks blown away by all of this usuless spending

  • @nw8000
    @nw8000 6 лет назад +12

    He should write a book and make some money from it

  • @TravisRugemer
    @TravisRugemer 6 лет назад +35

    How did he not ask what his parents did? $168m in a couple months?!?!

    • @DavidBrown-dv9rt
      @DavidBrown-dv9rt 6 лет назад +33

      If you listened, he said they ran an infomercial.

    • @klauser10
      @klauser10 6 лет назад +4

      Travis Rugemer he said 15 mil in 15 years.

    • @Crystalbomb321
      @Crystalbomb321 5 лет назад +8

      @@klauser10 15 mil 15 years ago. They made the money within a few months.

    • @indiaxlovee
      @indiaxlovee 5 лет назад

      Dex4Sure true

    • @slyfox1983
      @slyfox1983 5 лет назад +3

      Travis Rugemer what’s the infomercial??? Chia pets, foreman grill, snuggy???

  • @nicholaslandolina
    @nicholaslandolina 9 лет назад +6

    Suprising he's not from Southern New Jersey!

    • @rabidrabbitshuggers
      @rabidrabbitshuggers 6 лет назад

      NICHOLAS LANDOLINA ...what?

    • @mitsospiros
      @mitsospiros 5 лет назад +1

      It’s called South Jersey. But what does this reference mean?

  • @debbiericker8223
    @debbiericker8223 3 года назад +2

    I've personally known at least a dozen people in my life who blew through high 6- and low 7-figure inheritances and/or overspent 6-figure incomes to end up broke at 60. In each case, it was either drugs, gambling, laziness, carelessness, or thinking that another inheritance or miracle would bail them out. In no case did they change their behavior, though. Friends, neighbors, classmates, and family that I envied in my 20s and 30s became my cautionary tales.

  • @marydehaan4195
    @marydehaan4195 4 года назад +4

    sounds like a smart man--and he should never give or loan any money to his parents

    • @carojames6776
      @carojames6776 4 года назад

      They would not get a penny farthing from me.

  • @paidinfull5950
    @paidinfull5950 5 лет назад

    By the way I’m not downing Dave, I love his channel and he’s very smart. I learn a lot from him, this particular call though was missed and went the wrong way. He wanted help for his family.

    • @paidinfull5950
      @paidinfull5950 3 года назад

      Sponge Bob I watched the entire thing, so maybe you rewatch it? And you pay attention.

    • @paidinfull5950
      @paidinfull5950 3 года назад

      Sponge Bob 😂😂😂

  • @jessejames863
    @jessejames863 3 года назад +2

    some people that are struggling wish they had 15 million dollars so they could live a better life. its crazy how people don't value money and just burn it all away . like money is nothing and easy to earn.

  • @pegasus8873
    @pegasus8873 5 лет назад +1

    It’s not your money but it is a lesson.

  • @alexeialeksandr7606
    @alexeialeksandr7606 4 года назад +2

    His parents are financially irresponsible. Giving financially irresponsible people a lot of money won't fix that.

  • @danzhangmagic
    @danzhangmagic 5 лет назад +2

    even though it's 15 years ago..but it's still crazy that he blew 15 millions in 15 years....

    • @slyfox1983
      @slyfox1983 5 лет назад

      Dan Zhang ah like 19 or 20 years

  • @mrphatmunkeyspew6969
    @mrphatmunkeyspew6969 2 года назад

    It’s his dads money he can do what he wants with it the kid needs to make his own way good luck to him

  • @BigEvan96
    @BigEvan96 3 года назад

    Carve your own path. My family squandered or basically destroyed our posterity/generational wealth. The best thing you can do is wake up and realise that you having to make your own way out of life is the best thing that could ever happen to you.

  • @fhuber7507
    @fhuber7507 3 года назад

    You can't help someone that far gone.

  • @EldricVanguard
    @EldricVanguard 8 лет назад +11

    Cautionary Tales are Cautionary. Learn from it, peeps!

    • @johnnygat7631
      @johnnygat7631 8 лет назад +2

      Wow 15 million, imagine investing in Google Stock at 100 per share around "05" = 150000 + Google 2 for 1 (1 time dividend) = 300000 shares x todays price about $705 avg for G and L shares. = 211.5 million dollars :)

    • @mercedeserazo4466
      @mercedeserazo4466 7 лет назад

      Johnny Gat :-)

    • @Kmoxstar
      @Kmoxstar 7 лет назад

      Hindsight we're all billionaires!

  • @unnikuttan4069
    @unnikuttan4069 4 года назад

    Your answer was awesome , however I would like to know how he lost ,for it helps not to repeat the same mistake

  • @michaelwoods4495
    @michaelwoods4495 4 года назад +2

    If Dad is like me, he's sliding into dementia. The difference may be that I see what's happening to me and accept it. An evaluation by a clinical psychologist will tell you.

  • @jamisojo
    @jamisojo Месяц назад

    Makes me glad I didn't receive a $15 million windfall. His father clearly didn't know how to deal with it.

  • @mrdanforth3744
    @mrdanforth3744 3 года назад +1

    I would love to hear the story of how he MADE $168 million in sales and $15 million net profits. The part about blowing the money would be interesting too but the making money part would be great.

  • @Tr1Hard777
    @Tr1Hard777 4 года назад +1

    This guy needs to be an audio book voice over guy.

  • @charlesj.easleyii7642
    @charlesj.easleyii7642 5 лет назад

    The thumbnail facial expressions he has always say it all. Lol

  • @johnclinton8435
    @johnclinton8435 4 года назад +1

    It does not matter how much money you get, money comes and goes. Right there is a learning story. Dont be attached to money because it does not belong to us. Money is a mean of safety, and buying things we need but not everything in life.

  • @hikariyuki9936
    @hikariyuki9936 5 лет назад +3

    Sometimes I wonder, when people like this call in, if they’re more concerned about their inheritance or the fact that they got nothing than they are about their parent...

    • @et5895
      @et5895 5 лет назад

      He thought he was going to have money to blow during school and for life but that turned out not to be the case.

  • @thatguymichaelhtx
    @thatguymichaelhtx 5 лет назад +2

    Privilege at its best!

  • @justin8771
    @justin8771 4 года назад +2

    15 million!!!!!!!!! Oh my that’s crazy 😭😭how do u run through that much money Jesus I would even kno what to do with half a mill for real

  • @barbieblue3336
    @barbieblue3336 3 года назад

    What infomercial?

  • @hnkabraham
    @hnkabraham 4 года назад +1

    Fist, his father made money and he lost the money he made. It is not like his father wasted the inheritance. So the kid doesn’t have anything to criticise his father. He made risky business investments and made 15 million (as per a 5 year kid as his age was 5, 15 years ago) and lost it the same way.
    Accept it and move on, as Dave suggested.
    Said that, talking to his father will help him to learn some lessons from his parents.

  • @chrysichrysi7889
    @chrysichrysi7889 4 года назад +1

    The parents (especially the dad) could have a major drug or gambling problem, so I think it's important the son asks them both, like over a cup of coffee, what's going on. Squandering $16 million away within 15 years are definitely signs that somethings aren't right.

  • @figh761
    @figh761 4 года назад +1

    Not everyone get a chance to become a multi millionaire.But if you get a chance, make sure your children get the best education atleast.

  • @MiddlemistOne
    @MiddlemistOne 3 года назад +4

    "My dad blew 15 million... how do I help him ?" - I think Dave answered that question. You don't. If he needed the help he would have asked along time ago.
    With what I've seen of Dave, he doesn't endorse stupid and understand people can't be help when they don't want to be helped and if they want to be helped then their actions and behavior will show it, therefore, it's futile to try to help someone who isn't at least trying to help themselves get better.
    Dave probably concluded his dad doesn't want to be helped and it's not the son's obligation nor responsibility nor a wise decision to help his dad when his dad has proven all these 15 years that he doesn't need anyone's help, least of all his son's. If his dad squandered 15 million dollars in 15 years then he has proven, by his own fruit, that he is not going to listen to anyone else's advice. In other words, he does not have a teachable spirit ( of course all this can change by the power of the Holy Spirit and Jesus Christ our Lord and Savior).
    It may be a hard pill to swallow but the boy must do so and not hinder his own progress by involving himself in something he has no control over.
    Dave is probably thinking if he doesn't have control over it then it is a mute point concerning yourself with it.
    Move on and focus on your own stuff unless he repents.
    Anyways, those are my assumptions about Dave's attitude on the whole situation.

  • @joycecastona5327
    @joycecastona5327 4 года назад +1

    I think this young man will prosper and thrive well in life. He knows what not to do by his parent's bad judgements.

  • @Ace7of7Cups
    @Ace7of7Cups 5 лет назад +1

    depending on what was left in their income, the custodial parent, he probably did not qualify for the pell grant. i hope he was able to find a way

  • @wmurray003
    @wmurray003 3 года назад

    "Oh, ok." -Dave

  • @yellowbird5411
    @yellowbird5411 5 лет назад +2

    When you think the money will never stop coming in, it is easy to get sloppy. But while saving/investing isn't always sexy, it will leverage what you have into more, if you do it wisely. Real estate, in my book, is one of the very best ways to make more from what you have. I did that, after studying an old Carlton Sheets course a friend had but never bothered with. When he got money, I taught him about what I learned from that course, and got him investing in real estate. Well, he blew through it, took out every dime, short saled or foreclosed when the roof fell in, and is still hanging on by his fingernails on a couple of properties he stopped mortgage payments on in order to live. I was cut in for half when this all started out, and we built and sold houses until the recession. I took the money I made and put it into real estate. I am not "flush" as the money is tied up in the properties, but at least I can refinance, sell, etc. to help me when I stop working. I live frugally, and that is also a major key to paving the way for your future, which arrives sooner than you think.

  • @akselcapuri
    @akselcapuri 3 года назад

    I had the same problem, my dad probably made around 50 million before i was even born, spent it all and now we're just middle class

  • @JAB2010
    @JAB2010 5 лет назад +1

    I like how the advice is to feel bad for and go easy on the dad, but immediately cast aspersions on the mom lol

  • @sashikantupadhyay678
    @sashikantupadhyay678 5 лет назад

    What an irony... They were too smart to earn such a large sum in such a small time.. And were too dumb to blow it all away... They deserve nothing but sympathy

  • @bobhoffman5581
    @bobhoffman5581 3 года назад

    Let him "swim"--that's all the "help" Dad deserves. Maybe look after his affairs/burial upon his passing, out of respect for a parent, but how is it that you would ever "owe" your elders? (65 year old man here)

  • @ms.carlson3904
    @ms.carlson3904 4 года назад +1

    Dave should have been more sympathetic. What his father did is absolutely horrible and the caller will probably need inexpensive psychotherapy to deal with this family loss. Unfortunately he will have to forge his way on his own. One of my exes became a mutli millionaire with very little help from his father - although there was some help - and when he became rich he had his father work for his company and then found out his father was stealing money from his company and then did not talk to his father after that - after of course, he fired his father - for many years - I don't know if they talked before his father's death. Then when his father died he left about a million in his will to each of his children but one child who was the executor frittered all the money away in the estate and my ex got very little money - so he is in a very expensive law suit with his sister where he is losing money and may never see his law suit pay off. So, that is his family story.

  • @BradPwnsU
    @BradPwnsU 5 лет назад +2

    Hey, sometimes financial longevity isn’t the goal of the person. It may be to you, but not everyone. If you make $15,000,000 and spend it in 15 years, that’s how he wanted to live and it’s fine. It lasted over a decade. It’s ok for some people