$300,000 Income But Still Can't Sleep At Night
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- Опубликовано: 20 янв 2019
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He doesn't even need to be on beans and rice, he can be on shrimp and lobster and still save $65,000 per year and pay off his debt. He literally makes $300,000 per year!! That is literally $25,000 per month pre-tax, that is some peoples salaries PER YEAR! I wish I was in his position lol.
It's less than $15000 after taxes still good. Wish Dave dug more into his debt and lifestyle.
Yeah but his bills are bigger.
@@upfulsoul826 So he needs to change that to regular people bills. He is basically in the one percent in salary, if he can't pay off his debt in 2 years, I don't have faith in humanity...
@@ALXSSA Like Dave mentioned he needs to create a budget. It doesn't matter how much money you earn if don't know where it's going you'll get into trouble.
300k moves rather quickly
Great example of "it's not how much you make but how much you keep" for everyone.
For real!
Over 50 Mommy Life yup!
Yes the calls really opened my eyes to that FACT
exactly!!!
Exactly
Where are all these jobs that pay 6 figures but require no competency whatsoever?
Luminous RIGHT
Asking the real questions there!
I’ll take three of those jobs please. Lol
Baltimore, MD
He works for the government
How many people here would sleep like a baby with 300k a year 🤔
Turns out I lied , I made close to 300k in 2020 but I barely slept 🤦🏻♂️
Money's value is relative to the person. He's probably surrounded by millionaires and spending to fit in with them.
I would
Not him...poor dude obviously isn't making it check to check with $300K! 👎🏽
We would be able to live off of one month for the whole year and save the rest and get a nice house next year. Well just about 1 month at least, probably 2 months. Either way we could save over 250k a year.
Its not about how much you make ,its about how much you save. When I met my husband, he was and still is making almost 3x as me, yet I had no debt (neither did he) but I beat him by the tens of thousands in our savings.
It's amazing how people can have so much income but can't control their spending. I guess the more you make the more you want to spend.
I can't see why people are so shocked. What's more shocking, that someone making a lot of money can easily get caught up in high dollar items or that someone making a little money is drowning in things? I paid 1/2 of my car's price tag and wanted to pay the rest off in 2 years. I have a car payment on that which iis more than I made after getting out of grad school. Condo and sports car, throw in a wedding or your last year of grad school and it's a lot easier than it seems.
300k isn't nearly as much as it sounds in many places.
@@PicaPauDiablo1 yes, rent can be very high in some places. But a sports car is your choice, it's not a necessity. Same for condo. If you do not have a family you should be able to easily downsize until your debts are paid off.
@@mac1bc yeah I understand that I'm just saying it's a very easy thing to get into. we can all pretend that we get it right coming out of the gate but in reality, and one big reason we get in financial trouble, he's doing what people around us do I'm not justifying it or rationalizing and I'm just explaining it at least in my case
@@PicaPauDiablo1 I hear ya
Almost half is gone in taxes
_"$300,000 Income But Still Can't Sleep At Night
"_
Hire me, for $20,000, I'll sing you lullabies for 1 hour, every night. 👍 👌
W
fsmoura
Amen!!!
😂😂👍👍👍
😂😂😂
😂😂😂😂😂😂
He SIGHED at the thought of taking $65k & putting it on his debt... Lol
Im kind of disgust that he makes 300k and can't figure out simple math.
I'm sure he has his talents, ...which obviously don't use math.
He didn’t come here for guidance, he came here for some self inflicted spanking.
It’s his lifestyle though. He just can’t give it up for a year or two. He probably has a gambling problem
Honestly
Probably works for the state or federal government. No math required.
I want Dave to do a "Fed Up Hour". 60 minutes of past calls where he just sighs, rolls his eyes, and loses it with callers. 😂
He can pay off his debt in 6 months, not 2 years. Beans and rice, rice and beans. He needs to sell so much stuff the kids think they’re next!
@C B I was just looking up the tax brackets this morning and he would pay way more taxes than a lot of us.
Lol I love that line. Then her can start putting money aside for retirement. Just feel a lifestyle change is coming.
Subtract a solid 40% for taxes state and national. Not 6 months but 2 years debt free no problem.
His kids shouldn't suffer. He shouldn't have to live like a pauper on that income.
Jimmie Parks LOL! I love that phrase “sell so much the kids think they are next”
His wife will be so upset tonight.
triad6425 he’s definitely not getting laid
LOLOL. Yup. If he actually takes Dave’s advice, her credit cards are going in the shredder, the Mercedes is going up for sale, and Ruth’s Chris will be seen if one of their commercials happens to come on during Jeopardy!
If his wife is upset over giving up material things for a short period of time in the interest of her own family's well being and stability then he doesn't just have 2 children and a wife, he has 3 children.
@@matthewr2361 oofta
I doubt he even did anything abt it so probably not. They're still living the same way
I made 25k after taxes and still have 10k saved for retirement and I’m 21. It’s not what you make it’s what you do with what you make.
I'm confused as to how he makes that much money and has no retirement account at 42. I wonder if he cashed them out.
I’m so proud of you
Making 300k but probably spending 350k to 400k a year.
Mo money, Mo problems, doesnt matter what you earn, what matters is how you budget and your life style.
42 year old and can't manage this EASY financial "crisis". The ratio of 133,000:300,000.. come on dude.
Amanda FOR REAL!
Very true..
I am around the same age and my annual expense is below 12k (single). It is not easy to increase my savings at this stage but I continue to find games and my weaknesses with the goal of saving more.
@Rich 91 mortgage is not forced upon anyone. Who told him to buy a house?
What I’ve always wondered in these videos is what are they buying with all the loans and credit cards
"You're trying to out earn your stupidity" wow
I’ve been there.
I wish Dave would do some follow up calls with people who took his advice and people who didnt. I'd love to hear some of their experiences
Live like your rich. You'll end up poor. Live like your poor you'll end up rich
The most brilliant comment here! Amen!
One day you wake up at 42yo and realize you're "cash poor". This is the story for many Americans that no one wants to talk about.
Payment, taxes, & upkeep on a $750k home? $5k/month; On a $70k car+ insurance? $2k/month; Private school for 2 kids? $2k/month; Upscale grocery store? $2k/month; Insurance? Utilities? Entertainment? This type of family is spending $15k/month just to "survive".
"Trying to out-earn stupidity" People are disgusted by this caller but it doesn't matter if this guy made $30k or $300k, his outcome would be the same.
Making $300k leaves you vulnerable to hubris and the "Joneses mentality" that car salesmen, real estate brokers, and credit card companies rely on. I'd bet this $133k is only his consumer debt and doesn't even include his mortgage.
Exactly. Exactly
I guarantee you he and his wife live in a million dollar house.
And the shame of it is, he could live in a modest home, not seek to impress everyone with possessions, get a great circle of real friends, and be much more fulfilled. There are plenty of multi millionaires living this way and you’d never know there were worth that kind of money.
@Snow 123 - I totally agree with you! I’m sure that’s EXACTLY why he’s broke and in debt! I have friends just like this. They try to live at a lifestyle that is at least double their net income and do it primarily on credit cards and financing anything some fool will loan them money for. At some point you have to start acting like an ADULT. Constantly succumbing to peer pressure is a weakness in character. These friends that I mentioned before know that I could easily afford a car payment on a $50K BMW and ask me why I don’t drive one. My response -- my PAID FOR 2014 Acura TL is in excellent condition and I don’t want to owe any bank on a care note!
yamamancha awww poor guy
This guy makes 300k and can’t do simple math
CR7NEYMAR 😂😂😂
Funniest thing is that he's a doctor (MD)😂😂😂. I thought they're supposed to be smart 😂😂😂.
"Dave, I make one trillion dollars a year and have one thousand dollars in debt. WHAT DO I DO????"
Sell the car
Rice and beans
What people don't realize is, no matter how much money a person makes, if they are living above their means and drowning in debt, they no different from a person living on a $40,000 salary living paycheck to paycheck. What they are left with after bills is next to nothing. We tend to think how well we'd do with a $300K salary but that's on our level of living. If you took that salary and tried to live like some millionaire then you are left calling this show!
I wouldn't do that. My wife and I make a third of that, and we bought two cars and remodeled our home with cash. It's called "saving".
The $20 thousand does move the needle... by $20k... to be exact. That’s just about 1/6th. That’s significant.
Glad I'm watching this at 22 years old
DUDE... seriously... 😒
LOLOL. Love your comment. Nothing else needs to be said!
My motto is it’s not how much money you make, it’s how much you keep that matters! I’m glad o see that people are accepting responsibility for their money! I love money shows!
He's making good money but STILL living above his means. Absolutely incredible
John: “I make 300k a year”
Dave: “mmk”
If someone told me they made 300k a year I'd think they'd have life figured out
With $300,000 in salary, this debt should be cleaned up very quickly.
I'm beginning to doubt the authenticity of this show... Seriously. .. guy makes $300k... owes $133k.. you can literally pay this off without even trying.
Meanwhile Ed McMahon was on TV for 40yrs and claimed bankrupt
Well his income is heavily taxed so he’s probably bringing in closer to 200k take home. And if he is living at the same level of income he’s making then he probably doesn’t have much breathing room. The problem is people live higher than they should. My wife and I have a total household income of 250k but we live on 50-60 a year. That’s the trick. Live below your means.
@@LaCrux do you ever feel like your working for nothing? Saving $200k a year.. you never going to use your money. Seems little extreme to me
@@RockyTopSplash Not really to be honest. As my income went up I just kept the same level of living. No fancy cars, no super big house or anything like that. But that doesn’t mean I don’t enjoy things. We take nicer vacations and splurge on little things here and there. I’ve greatly increased how much money goes toward retirement. 15% going into 401k plus I have a taxable account because I want to make sure we can live really nice in retirement. Part of the reason why we live on way less than we make us because we’ve been broke before so it’s hard to explain the peace of mind in seeing a large amount in my account.
@@RockyTopSplash We eventually plan on having a bigger house but we are saving a big enough down payment so that our mortgage isn’t more than what it is currently. Also we save up and pay cash for cars. So I enjoy my money but I try not to do thing that will permanently increase my expenses.
This guy serious, takes home 300k/yr and can't pay down 130k debt. Give me a break. What a joke
He needs to reduce his lobster and caviar budget.
@@fitybux4664 He needs to substantially, I find it ironic that he can't juggle easy math. We know he didn't major in math lol
"Rice and beans, beans and rice". Maybe just cut the caviar and see if that fixes the problem?
I like this man. What a bright person that helps people 🙏🏽
Debt is not dependent on income but on habits. You could earn $30K a year and be cash rich or you could earn $300k and still be under debt.People believe more earnings can help them in getting out of debt.Unfortunately people fall to lifestyle creeps and their spending grows in proportion to their earnings.I remember a colleague who earned $350K but had to borrow $600 from me to get her clothes out of the laundry and handle groceries for a week.Huge mortgage payments from a large house in an expensive neighborhood, large car payments and not submitting her business travel claims in time did her in.
great advice sir
He’s a gambler. I can hear it in his tone.
What do you mean?
Lol
Pay it off in 12 months. You'll have to "only" survive on around $170k lol - we should all struggle on 170,000
"The thing is I make 300 thousand dollars a year"
Dave "MMmmk"
I would save one million in 10 years with that salary, at least.
Through savings, investments you can save that in half the years.
Easily! With moderate investments- you’d have more than that!
Of course, given that most lottery winners end up blowing through their life changing money in just a couple of years, I'd guess that most people given this income would, despite good intentions, just end up back where they were anyways.
Evey B. not in Trump’s America you won’t. His policies have gotten a lot of people into a world of hurt. This caller won’t begin to fix their problems until that man is out of office.
i would save 2 lol
Anybody notice that Dave Ramsey goes straight to the car part 🤣🤣
The fact that this man is struggling to pay this off is amazing. Who’s pay people 300k a year but doesn’t realize they are stupid.
What's stopping these people from just selling their home and rentin cheap for a few years? Live small. Your kids can share a room. Suddenly your monthly expenses drop by $1500 a month and you can save some more on top of that, pay off all debts in about a year or so, and then wonder "well, do we really need a big house?"
My favorite line your spending like your from Congress 🤣🤣
Making 350k ish at 30 years old. Feels great
0:14 gobble, gobble 🤣
"spending like you're in congress" has never been so relevant with this call coming from Maryland!! XD
When someone says they make $300k a year they really only take home about $225k. Dave might want to base their debt payment program on after-tax income.
More like they take home 185k in some states
@@richie5200 if we take home this much money after tax, we would become multimillionaires in 10 years.
Say he makes $200k take home. That’s almost 17k take home. If he spends 7k a month he fixes his debt in less than a year if he liquidates his mutual funds.
The problem is, his two kids are probably in private school at 20k each and they pay 2500 a month in their mortgage and are paying off a 80k Tesla and a 90k Range Rover and a boat and a vacation house in Virginia Beach. And they have a trip to Hawaii planned in January and one to Paris in April.
If they took the kids out of school or sold the cars, what would their friends think? If they don’t buy their daughter a new BMW for her 16th birthday, she won’t be in the popular group! If they don’t pay for her figure skating lessons, she might lose a chance at a scholarship.
@@choreomaniac exactly lol
I love how people willingly call Dave ready to be bossed around "yes sir" 😂
Couldnt he pay it off in a year? 300,000 minus 133,000 = 167,000
It's more like after taxes $180k subtract $133k..not sure his mortgage.
@@8SecSleeper Its possible no doubt if you got creative with it.
You dont take home $300,000 on a $300,000 income because the government is greedy.
@James Marquis I'm confused how 300,000 becomes 150,000 after taxes????
Federal tax of 35%, there are also local and state taxes that can add up to the other 15% to 50% tax. So in the end he is not taking home more than 200,000. 150,000 is a rough estimate if taxes are high where he is.
Its true Dave - you have to be mad at debt/poverty and do whatever legal thing you need to do to get out of it!!
I used to do great with a $25,000 net income, easily banking $10,000 a year. Then I got greedy, bought a lot of luxury things, moved to a nice apartment, financed a nice car... And now I'm broke.
You can be fine with a $25,000 income, and you can be not fine with a $25,000,000,000 income. The income doesn't matter; what you do with it does.
I'm not sure you can be fine on 25k
So well said
If you’re saving 10,000 a year why not
You’re inspiring me to avoid the luxury car that I keep dreaming of buying
Согласна 100%
300k with a 133k debt? Beans and rice my friend. You will be alright
Josh Growing up on the Texas-Louisiana border everybody eats beans-and-rice! Hello! LoL
Proof that financial literacy courses should be mandatory starting in elementary school.
Pay off those high interest credit cards ASAP! After they are paid off, keep the cards open but do not carry a balance beyond the end of the billing period. We call that self-control.
Guarantee his wife doesn’t work and she lives and spends like there’s no tomorrow.
1°Written Budget
2°Sell you car
3°Rice and Beans
4°????????
5°Profit
I’m sure he is a gambler and lost it all
People living Wayyyy above their NEEDS.
More like 200k+ in debt including interest! The power of compound interest!
Is spam ok with the rice and beans?
How many of these anonymous callers are just making up their income?
Dave can be so in patient with some people
I agree except start with the Highest interest first. Then once the debt is paid take that same amount and put on the next highest interest debt. etc. When the debt is paid off. Then get back to SAVING! And live off half of your income.
What your talking about is the Avalanche method.
pfff just avoid the 50k vacation for two years and just go to a cabin, problem solved in 2 years
If i was making 300k a year I would be so peaceful financially
He makes 300k I don’t get it. Stupid call
Learn to be peaceful no matter how much you make
@@Sexy40baby1 i don’t think you understand what was the point
@@Shiroyashasama clearly she is stupid
I have to nitpick one thing. $20K does move the needle on $130K of debt...
Not if he spends 50k a year extra 🤣🤣🤣
Discipline!!! Keyword!
Agree -With discipline he and his family will be out of debt in no time.
Dave brought out the knife hand....that got serious.
Lol
For some reason I love this dude 🤓
What does John do??
This man sounds like a depressed victim. As soon as he gets angry the depression will leave and he'll be able to spring into action. I can't wait to hear his victory phone call!!😊
Wait for it... wait fooor it - “rice and beans and beans and rice” 😂
Some people are never comfortable with their financial situation. I have a friend who lives in Nashville. He and his wife are both retired military. They own EVERYTHING including a home worth over 300K. She still works as a GS-11 paralegal. Their combined income is probably north of 130K. He constantly gripes about money as if they are they are the steps of the poorhouse. When his checking account dips below 50K he acts like the sky is falling! They are the epitome of unhappy wealth.
Greedy of human has no limit. They never satisfy in what they have.
It's all relative...most people spend every thing they have because they figure that's what they're supposed to do. It's sad, but I'm so glad this guy is seeing the light.🙂
There’s a great book on this: Stop Acting Rich by Thomas J. Stanley, Ph.D.
Please do an every £ app for the UK, Dave!
I’d be shocked if he couldn’t pay off 133 in a year making that much money
"you can wonder into debt buy you can't wonder out"
Dragon ball taught me love beats anger 😂
"you guys have been spending money like you're in congress" "actually, Dave, I am a congressman"
Now THAT would be a great call! LOL
I hate when Dave says "spending money like you're in Congress..." That's a terrible analogy. Congress spends OTHER PEOPLE'S money. Tax payer have no input on how the money is spent
I think that's what he means. The caller(s) are spending money like it's someone else's (I.e not really worrying about the consequences or whether he's getting good value for money)
Tell him dave!!
I hope shes on board.
im in the same situation as the title
WOW!!!! This guy is unreal.... he could pay that off in 6 months if he really wanted it gone....
THey should have that paid off immediately. That is absolutely insane.
Dave was clearly not interested in helping this guy out.
I wish he would have asked him to break down his expenses. What’s his house payment? Boat? Cabin? I want details! 🙂🙂
People just call in to boost...
The more you make, the heavier the responsibility.
He got the most expensive things you can let in your home in his house. Wife n Kids.
With all the people struggling on $20, $30, $50, this call makes my blood boil. Disgusting
Ron S. For real brotha.
Oh Ron, keep crying bud!
please stop your whining because people in 3rd world countries would love to make 20, 30, 50 thousand a year.
Mr. World Free-Man I am not in “3rd world countries”, and instead of me “stop whining” why don’t you stop trolling?
Ron S. Ronald, SHUSH.
I’d like that problem but would not use funds ever....
300k and no common sense. What job is this? I'll take his position and do it for 200k lol
I think it's time for the Dave Ramsey show to start rigorous screening of callers because this is the result of not screening.
300k.... no way I wouldn't sleep. This is crazy omg
How is it possible to make 300k per year in Baltimore (at age 42) and not have more than -100k in net worth? So sad if true.
Honestly I taught the call would be more dramatic from the title 😄
I listen to Dave Ramsey a lot, but lately it's been sounding scripted.
I too feel the same. These days, I come across so many calls that are basically relationship issues and not exactly financial issues. For example: My son cut me off from his life, My in-laws are staying with us always, my husband is a mamma’s boy etc. Especially if Dr D is there in the call, these things come up more often.