Professional Student with no real world experience wants to skip hard work moving to the top of the company expects to jump right in as CEO when he can’t even run his own life with good decisions. If he got a job in his field at a large company most will pay for your college continuing education as long as it’s the same field. How does this guy think he could successfully run a company no experience? Sounds like he needs to get a serious job and begin working his way up. Degrees are great but if you don’t network and get the right experience he will be passed over and over from those high positions he thinks he deserves because other people have put the right effort in and have years more experience.
Yeah, these predatory graduate programs are responsible for the vast majority of student loan debt in this country. You should only go into debt for a professional graduate degree like med school where there's a guaranteed six figure job at the other end of it. If this guy has a Chem bachelors, he could have gotten a PhD in Chemical Engineering for free with a living stipend, then gone on to make six figures in biotech. I have an extended family member who did that, completely free science PhD and eventually climbed the ranks in a pharma company to become the CEO. They want people with practical experience, either in science or medicine, or business. Saying "I have a PhD in leadership" means literally nothing, this guy is not going to be competitive in the job market. Idk how smart this guy is, but if he did extremely well in undergrad, another option for him would have been a free MD/PhD. I have an exceptionally smart college friend who majored in Biology, then went on to get a (free with living stipend) MD plus PhD in economics. He's working as a physician at the moment, but will probably be running either a hospital or health insurance company in the near future like this caller wants to do.
@@adamshebani1451 The university or the lab you're doing your research in pays it. You're getting a PhD, but in science, you're essentially an employee. You're physically doing and making things that are allowing your professor to secure millions of dollars in grant money, generating patents for the University to profit from, etc. It's an excellent deal for them, because when you factor in how many hours grad students work, it's below minimum wage. Grad students are essentially highly skilled slaves. You can also get a small stipend boost for teaching undergraduates, and securing your own funding from an outside source like the American Cancer Foundation. The government also provides some funding to most science graduate programs from the NIH and NSF, because it benefits the economy so much down the road for there to be more scientists inventing new products. That money is typically only for US citizens though, they come up with private funding for international gad students. In contrast, social science and humanities PhD's are typically not free, or if the tuition is free, you need to cover your own living expenses somehow. This is because they're not doing anything that makes the University money. They basically just sit in the library all day reading, and put out a couple articles that won't be profitable because you aren't making any discoveries that a pharma company can use. I have several friends who went that route, and they were able to make a tiny bit of money teaching, but they or their parents had to go into huge debt to fund the degree, and then there weren't many job opportunities on the other end. There are very few tenure track faculty positions compared to the number of PhD's being pumped out every year. At least the science kids can go into biotech and other industries, there isn't a lot you can do with an English PhD other than adjunct teaching. Some of them transition into consulting or business, but that's a very expensive route to take, they could have done that straight out of college.
Yup they care about experience in running operations or other business ventures, while this genius has wasted years in school other people spent that time climbing the business ladder getting valuable experience and any large corporation would hire them instead 100% of the time.
If anything is hurts your chances at being a CEO, he's wasted him best time in the workforce to build a resume and instead has a six figure debt for a paper.
Yeah, when he said “I’m looking for other resources” he sounded so dumb and sheep-like. He’s 100% a follower. There’s no way this guy is going to be a CEO
@@anacorreia8058 not true. CEOs drive companies into the ground all the time and sometimes it’s because they hire guys like this Or because their irrationally greedy..
If he's going to spend all that money on college, he should get a degree in accounting, computer science, business administration, or something that's going to help him get a big salary.
I’m a high school drop out. I make $52k. I have zero point zero debt. My house is paid cash. I’ve been a laborer all my life. I paid my daughters college cash. It’s not how much u make It’s how much u spend.
And the biggest thing is you got a really early start without going into debt. The guy on the phone call is going to be half a million in debt at the age of 30 and probably be about 45 by the time he can start enjoying his life.
Very true. I had a family member with a business doctorate who is a professor at a large University. I went into a partnership with him.....huge mistake. Horrible business and it tanked. he went bankrupt. Then those of us who who went on were left with huge chunks to pay off. I think these kids need a Ramsey course and watch the movie Back to School with Rodney Dangerfield.
It's not his fault though. Society hypes education to the point that people study for years just to get a great job, but in the end experience and hard work trumps all that. These days you dont need education to get rich or have a great career. Education is sold to get you a job but all it does is help you learn/study things. Education needs to stop being sold as a dream, because in reality it isn't.
Rạfat education is also marketed as fun. And it kind of is. Just a few hours of class a day, being able to spend your afternoons hanging out on the quad or at the state of the art library while studying. And to boot, you can go see your friends every day. Compare to work, where you’re packed into a crowded office all day. This is especially true when you’re in your late teens and early twenties, where your non-military options are basically college, or a job where you’re micromanaged like crazy.
@@shakemiz Another crazy part to this equation is the fact that MOST pple can't find a job with BS in Health Care Admin & he's here doing his PhD lol good luck with that in that field. I wouldn't go that far in this field.
He could get a VP position with a bachelors degree and strong experience. But he doesn’t sound smart enough to be in a role like that (don’t mean to insult him).
Amen, brother. I remember going in my lawyer's office and saying I'm not filing bankruptcy. 2 minutes later I'm on the phone with my wife we're filing bankruptcy
@metsfanr86 what I never hear them talk about is the fact that if you start fixing your debt and then for some reason you can't at that point you may not pass the means test to file bankruptcy and now you're really in trouble
Right i work at a factory and make 75,000 without really working over time.. i never went to college and i run circles around most folks i know wity degrees..i have everything they have. By the time they catch up in they 40s i would have had it already.
@@thatscardo86 I dont make much as you. But i only took a 4 month class and got hired right away. Started at $20 hourly and went up to.$29 hourly in 3.5 years. About to start my registered nurse program for my first degree ever lol College is not.always necessary
He definitely is. I know a few people like this. Constantly in school because they don't want to face having to join the workforce. While having an advanced degree can be helpful, it is not needed for what he wants to do.
@ihategooglespooks Well I just think if the PhD isn't in STEM, one has to look hard for funding and that can be difficult but not impossible. So many STEM PHD degrees however offer full tuition paid, benefits, and stipends. It's been a good investment for me.
@ihategooglespooks nope, financially phd is never worth it, I'm 4 year degree engineer and PhD get paid same as us, chase we got 5 year lead on PhD, 4 year degree engineer with 5 year exp is same as phd
The problem is that the path to an executive position has only a small part to do with education. It’s really about your ability to lead and manage teams. You can learn some of that in school, but about 60% of it comes down to your personality and experience. No one cares how educated you are if they don’t like you.
When Dave asked what his doctorate degree was in, I was literally biting my nails in anticipation and worry Me: Please please don’t say something crazy Caller: Organisational leadership with a focus in health administration” Me: 🤦♀️🤦♀️🤦♀️. I just knew Dave would start stressing. This whole call was stressful. Who needs a PHD in leadership? Jesus, take the wheel 😩
I know. Leadership is something you learn through field experience, not a doctorate. What is specifically different about running a hospital than it is running another type of company that it requires a doctorate?
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
They should make Dave Ramsey or a Dave Ramsey like class mandatory curriculum for high school and first year college students. But the powers that be would not allow it lets face it.
@@dontundra2259 Never going to happen. If you teach people proper math then the governments accounting practices and poor use of money would be apparent to everyone.
I have 30.00 and I'm waiting for it to post online so I can pay it off. I wonder how much on that credit card was eating out and buying clothes and junk.
Hard when the guy plans to accrue more debt for 2.5 years and is already well into his degree program. Only making $57k a year. Agreed, Dave was stressed just listening.
@@tortoisehead30 Although the CEO is likely over 50, when ANY undergraduate degree was amazing LOL The standard has DRASTICALLY increased in the past 10 years.
When your plan is to “be in an executive leadership position” rather than learn a skill of value to accomplish endeavors of value, you’re already starting off in the wrong mindset.
No university charged this much. He pulled out a student loan to lay for college and to pay for bills. He didn't want a job somewhere in between so he used his loans for personal shit. You shouldn't pay no more than 100k for college. That's pushing it hard. You don't need to go to a supreme school
I’ve been a healthcare manager for 17 years. Started in the military as a Health Services Manager and have a degree in Business. You don’t need a PhD, you start working then continue your education as you work.
Any advice Im in the military and finished my assossiates in health and about to finish a bachelors in health an wellness I want to step into health care management when I get out.
This. And frankly this goes for anything. Once you have a license or certification or degree IMMEDIATELY start working and then work your way to what you actually want
Wow. Anytime I feel like my life is tough or get frustrated in the wealth building process, I just listen to calls like this and I feel immensely better.
Ugh, I’m inclined to agree but then again he is 28 and married and with a child so his life appears to be about schooling and family as opposed to keeping the pulse of personal finances.... I hope he learns a big lesson for both areas: personal and business
Lol good point. If you aren't able to manage your personal finances, how are you going to manage a hospital or company finances. Don't give me that old he can pay someone to do that. No. It's important to understand the financials and lead an organization to manage them well
@@thecatnextdoor12 To have never taken on debt you are in fact extremely good with personal finances. That is impressive. If one does not operate in the debt marketplace I can understand not being aware that accruing more debt while cancelling others is not possible; however, as Mr. Ramsey pointed out as a matter of principle one should not be doing such a thing. With a history of taking out debt from multiple sources I would have thought that John would have at least understood that failing to pay debt constitutes theft.
Srudentr who maybe first generation and have not been exposed to the educational path, may not know this. They may not know how to calculate these practicalities. Financial literacy is also a matter of privilege. If one has seen their family struggling for pay check to pay check, the chances are high they donot know how to manage finances.
@@Applauseify I am only going to be a junior next year for my bachelor's degree and I know these things because my teachers and other students repeat this. To be fair, I am going for a B.B.A. or Bachelor of Business Administration, so I have taken a principal Finance class, but I do not know how that info doesn't travel around just by talking to people! How many other students applying to masters and PhD programs did he talk to and not one person told him about these things.. It's kind of unbelievable.
Yea this guy isnt smart most if not all respectable phd program give out grants for the exactly the thing you just described. Let's be honest this guy doesnt know what he can do with his degree. Even the way he answered dave's question is sus "doctorate" and "health care adm". No one actually going somewhere in their actual career wouldnt go school and not actually work on his career at the same time. He's doom
Even worse...this guy is managing someone's airway on the vent! I can imagine what he's like to work with. A know-it-all that like to be condescending! I've worked with plenty of those "types" in the hospital!
@@Musicienne-DAB1995 yea I find it a disturbing trend. My nephew's counselor talked him into attending college, a decade later he can barely stay on top of the loans he took out.
Dave Ramsey's insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life. The Total Money Makeover is my go-to guide, and I appreciate how he breaks down complex concepts into easy-to-follow steps.
As a respiratory therapist he would be making so much, why isnt he interested in doing that? That's so weird! A PhD is far from necessary. During this pandemic they were offering RTs 10k/week!
When you add in the mortgage, the dude is $500K in the hole. Dude, beg your university for a master's degree, go get a mid-level job in your field, and climb the ladder. Finish the Ph.D later.
I exactly said that, Dude should just get a mentor or join a startup company or start at HR and move up and jump ship into hospitals where there are big bucks and move up! He went so left and down a hill
I am in healthcare and I have never seen anyone who landed an executive position by getting a PhD. You need experience!! I would stop the studying and just get a better job and work your way up. And like Dave said, get the organization to help pay for it. Also, another thing, people don't like hiring over educated and under experienced people.
I worked in medical research for years and the top administrators told me that "phds are a dime a dozen". There are a lot of them and having one doesn't mean you know how to do anything.
First of all, this whole economic chaos was powered by optimism that the FED is done with hiking interest rates. Now that interest rate crash is the situation, where do we go from here? How would you advise I safely allocate $250k funds at this point?
The market is volatile at this time, But doesn't the Federal Reserve's monetary policy and low interest rates contribute to the current valuations? hence I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/ETF you focus on.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
’Sharon Lee Peoples is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
!!!SCAM!!! THIS COMMENT CHAIN IS FAKE, FABRICATED BY A SINGLE PERSON USING MULTIPLE ACCOUNTS!!! NONE OF THESE PEOPLE ACTUALLY EXIST!!! Its designed to lure YOU into wasting your money while thinking that you are investing in your future. Do NOT fall for it.
Indeed. I keep my money in the bank, I paid off my house and I live a frugal modest lifestyle. Sure my money in the bank doesn’t make much but I never loose it when there is a downturn in the economy and I don’t have the endless stress of worrying when the next crash will arrive and wipe out half my wealth. I will take half of something over all of nith8ng any day.
The main purpose of getting a Ph.D. is to become a college professor or scientific researcher. To become a businessman you normally start working as soon as possible, then do night school if necessary for your job.
Yes. I've been in sales for over 20 years and once a very good foreign currency trader managing millions of dollars for my clients back in the day. You'd think you need an MBA to do that?? Nope. I was a University School Dropout. My bosses and the owners of the company at the time were dropouts as well.
CEO in particular requires many years of staging yourself over different leadership positions. Starting from junior management, then multiple senior level management positions, before even being considered for executive positions. Although certain attributes are important, such as good writing and presentation skills, most of your talent is going to shine with leadership. Meaning, technical talent is not really important. In fact, it can be detrimental if you become micro-management oriented trying to focus on technical you learned in a specialized skillset when you should be delegating those tasks out.
Absolutely. You can transition to the business side of the STEM industry after starting out in research, I have a family member that's a CEO of a pharma company, but you don't need to go into debt for that, Biology and Chemistry PhD's are free with a living stipend. Another path is management consulting, those frequently lead to high level business jobs, and the company you work for will pay for you to get an MBA at night. There's literally no reason to go into debt for graduate degrees if your goal is business. There are a very small number of professional track grad degrees that it makes sense to go into debt for, like an MD, not made up PhD's like this caller is getting. What a nightmare, he made a huge mistake. Didn't his college have professors and career counselors to talk him out of this? Yikes.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@@devereauxjnr Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.
@@Tsunaniis-j5l That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.
Bad part is there are alot of this entitlement mentality, I get what I want and the rest of us pay. I worked 2 jobs and did it as I payed. It took longer, but got through owing nothing. Btw I had 2 kids and it was hard.
Both of you are so correct. I had hard times for many years as well. My bills were always payed and most importantly, I did without instead of just making more debt. Now, all is well not having to worry all the time.
ihategooglespooks I hear you man. Some people deserve the pain that socialism brings with it. Unfortunately, socialist don’t give up their power willingly, so it could take decades and war to get our country back
Lol This man could be working for a hospital as a respiratory specialist. Have the hospital pay for his PhD, and rise up the ranks to become their CEO. May take a little bit longer but it would be a lot cheaper. Now he got tons of headaches. Don't envy him.
Good point, especially with a degree in chemistry. I thought when I heard that he probably thought he'd be a medical doctor. I worked in the medical field for years and know it's the business department that dictates medical care patients get. I think he's pretty wise about his career goals, but needs to find more resourceful means of getting there. With his undergrad degree and hospital experience, he'll make a very good administrator. God bless him!
I just got angry listening to what this guy put himself and family through and then felt ashamed of myself when Dave decided to help them pro bono. So nice of you Dave what a great role model you are..
@@00PAKAL00 same stories outside of the music business tho. It's true that you can be successful without a degree, but on average, a degree offer more security and higher income over the lifetime.
This guy did not think anything through. Honestly, he doesn’t have the long term vision to be in the c-suite position. The decisions he made tells you he is not a critical thinker nor organize. There is no degree that propels you into a CEO role. Poor fella. He posted in the comment section and it sounds like he’s heading in the right direction.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
@@harrisonjamie794 Very true, If you're looking for help building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@MarcelPhilips How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@harrisonjamie794 KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
Delusional. Who gets a PhD with CEO/COO/C-Suite as the end goal without an inkling of the industry or company he's pursuing? He has no idea what he is doing.
He's a professional student. Chemist, respiratory therapist, hospital ceo he's a master of none. If he hangs out with that lawyer that may be his next direction.
😂😂 that I thought respiratory therapist are doing a lot money during the pandemic, and as a chemist he can start at 60 or 70K, if he want to get a PhD better start a job and in long way see if the company will help you out
This is the most jaw-dropping call I've heard in a while. Dude has a chem degree but then switched gears in the worst way possible. Chris and Dave could spend an hour just unraveling through this guys mess.
Dude clearly didn’t do proper career research and rushed into this deception he thought was a realistic path. I switched gears at age 30, was working retail banking making $40k in horrible micro-managed environments. But I did my research and looked for the best technical career I could transition to without paying an astronomical amount of money. I went and got a Masters in Info Systems with a $30k loan, and here I am 5 years into my career as a Business Analyst making $100k.
This guy was definitely living in a dream. I hope he has woken up by now. You don't get to a executive position because you have a PHD. Executive positions are all about management skills; how to manage a company and how to manage people. PHD is all about making new development in a field.
This guy made horrible choices. 1. Getting married 2. having a kid. 3. taking out a loan like that to become a VP? He's better off starting his career early and working his way to VP.
Totally agree. If you have the high dreams of pursuing a career high powerful career you really gotta slow down the other areas (marriage kids and even schooling). I think he thought he could have it all- the simple life and the high life...
I said the same thing. I would have divorced him. I will never want a man with irresponsible spending that can affect the rest of your life. These aren't mistakes, he knew he couldn't afford all this stuff like he is a millionaire.
@@itonner231 You have to make sacrifices for a high flying career. Getting married and having children early in your life will slow you down. You can't have your cake and eat it too.
Betty Smith ya, I agree. The educational system is NOT criminal. No one was forced to agree AND sign for a student loan 🤷🏼♂️. It’s no one’s fault but their own to borrow ridiculous amounts of money for a meaningless Doctorate that wasn’t even necessary 🤷🏼♂️
Bless his heart - I work for a healthcare organization and the thing about leadership that has NOTHING to do with title is that people need to LIKE YOU. If your community doesn't embrace you, you're not going anywhere. That goes for ANY ORGANIZATION, regardless of field. Community and relationships are EVERYTHING!!!
I said the same. I worked in hospitals and healthcare and I can promise that when the hospital executives step down, their replacement was hand-picked from a small, nepotism pool of friends 2-3 years prior.
Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@IAMBETTERTHANYYOU That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@sommersalt88 Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
Her name is "JILL MARIE CARROLL", can't divulge much. Most likely, the internet should have her basic info, you can search her online as she is SEC and FINRA regulated.
@@sommersalt88 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Companies won't hire some outsider with no professional experience onto the Executive Board just because they have a PhD. He should start at the bottom and work his way up like most other executives will have done. If he had done that he would have earned a salary instead paying for studies. He's going to have an unpleasant surprise when he works out he can't join a company at the top with no experience.
Yeah WE are insuring those federal loans as taxpayers. The lenders are sure to get their money, with interest, because the federal student loan program is a disaster, and the callee is a prime example. Administration positions in healthcare start out at 50-60k if he’s lucky. It’ll be a while before he even breaks six figures while the meter is always running.
This guy is on a journey grabbing degrees every couple of years. Dude if you're not able to reach executive position with a M.S....rest assured you can grab 10 PhDs you won't be able to reach there as well.
My undergrad advisors told me that one should never pay for a PhD--if you don't get grants and scholarships to pay for it in full, then don't go. I did work on my PhD for a year, on full scholarship plus a stipend, but I dropped out because the degree was in low demand. 💯
I am in healthcare administration and for those roles you either need an MS or MBA or MD, docorate is a waste of time you need experience working in healthcare
@@matthewsims9469 I mean you're probably not a slacker if you're in a PhD program. He just sounds like he's someone who misunderstood that the point of higher education isn't to continue getting good grades.
Yep. i grew up with a parent who had a PhD, whose terrible decision-making, abusive behaviour, and financial ineptitude ruined our lives and set us back financially when we grew up.
"I'm pursuing a doctoral degree in organizational leadership and I'm not even slightly ashamed to admit I'm lost and can't manage money or my affairs".
As someone with a huge amount in student loans, I feel for him and his wife. Praying they can get their act together and can only wish them the very best.
I'm not sure how sorry I feel for somebody who does it to themself. I know somebody who lost nearly a million dollars through no fault of his own. Those are the people I feel for.
No education propels you suddenly to COO position over others who have had years of executive leadership. What person sold him this garbage. I have a pet rock that I would like to sell to this guy.
I’m 47 with around $200,000 debt with $148,000 being student loans and my income is only $34,000 per year. These student loans go nowhere. They will haunt you forever and with those who have income as low as mine and no prospects to earn more, 8:59 it’s very discouraging and just makes you want to give up on life. At least this guy has prospects for a better income in a couple of years. I hope he is successful.
He is digging his own grave with a spoon vs. a shovel. Common sense is leaned through experiences and obstacles we encounter in life. 20% of people learn and Never repeat the behavior. 80% of people will Never learn in this lifetime and remain stupid until they die. Thank God he put his ego aside and called someone with common sense for guidance.
Worked at Target through community college and university. Paid all of it myself. Didn't start until I was 21 since I was saving a little beforehand. I graduated with a bachelors right before I turned 27. No debt. People need to stop going to college immediately after high school.
IS WHAT THEY MAKE YOUNG PEOPLE BELIEVE, THAT IF THEY DON'T GO TO COLLEGE THEY ARE NOT WORTHY. WHEN THE REALITY IS THEY ARE DROWNING IN DEBT DUE TO THE HIGH COST OF STUDENT LOANS.
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Fortunately, I haven't gone to college without a scholarship....
this guy is so not gonna make it
Professional Student with no real world experience wants to skip hard work moving to the top of the company expects to jump right in as CEO when he can’t even run his own life with good decisions. If he got a job in his field at a large company most will pay for your college continuing education as long as it’s the same field. How does this guy think he could successfully run a company no experience? Sounds like he needs to get a serious job and begin working his way up. Degrees are great but if you don’t network and get the right experience he will be passed over and over from those high positions he thinks he deserves because other people have put the right effort in and have years more experience.
Hes gonna get loan then file hes not dumb
@@gusmueller4413 He will if he files for bankruptcy.
One of those calls so bad you feel like you're in debt just listening to it.
Lololll
😂😂😂😂😂
Omg...yes!
😂😂😂😂
This just made me check my bank account just to be sure i'm not 😂
How can you be a CEO of a company when you can’t even fix your own financial situation?
agree
Best CEO know how to file for bankruptcy to make money.
He never will.
My thoughts exactly.
FIVE YEARS after graduating he thinks he will be a CEO…😮
having a PHD is NOT a requirement for being a CEO
Yeah, these predatory graduate programs are responsible for the vast majority of student loan debt in this country. You should only go into debt for a professional graduate degree like med school where there's a guaranteed six figure job at the other end of it. If this guy has a Chem bachelors, he could have gotten a PhD in Chemical Engineering for free with a living stipend, then gone on to make six figures in biotech. I have an extended family member who did that, completely free science PhD and eventually climbed the ranks in a pharma company to become the CEO. They want people with practical experience, either in science or medicine, or business. Saying "I have a PhD in leadership" means literally nothing, this guy is not going to be competitive in the job market. Idk how smart this guy is, but if he did extremely well in undergrad, another option for him would have been a free MD/PhD. I have an exceptionally smart college friend who majored in Biology, then went on to get a (free with living stipend) MD plus PhD in economics. He's working as a physician at the moment, but will probably be running either a hospital or health insurance company in the near future like this caller wants to do.
@@rachelmaddowswife8713this stipend you speak of, it’s provided by an employer or what?
@@adamshebani1451 The university or the lab you're doing your research in pays it. You're getting a PhD, but in science, you're essentially an employee. You're physically doing and making things that are allowing your professor to secure millions of dollars in grant money, generating patents for the University to profit from, etc. It's an excellent deal for them, because when you factor in how many hours grad students work, it's below minimum wage. Grad students are essentially highly skilled slaves. You can also get a small stipend boost for teaching undergraduates, and securing your own funding from an outside source like the American Cancer Foundation. The government also provides some funding to most science graduate programs from the NIH and NSF, because it benefits the economy so much down the road for there to be more scientists inventing new products. That money is typically only for US citizens though, they come up with private funding for international gad students.
In contrast, social science and humanities PhD's are typically not free, or if the tuition is free, you need to cover your own living expenses somehow. This is because they're not doing anything that makes the University money. They basically just sit in the library all day reading, and put out a couple articles that won't be profitable because you aren't making any discoveries that a pharma company can use. I have several friends who went that route, and they were able to make a tiny bit of money teaching, but they or their parents had to go into huge debt to fund the degree, and then there weren't many job opportunities on the other end. There are very few tenure track faculty positions compared to the number of PhD's being pumped out every year. At least the science kids can go into biotech and other industries, there isn't a lot you can do with an English PhD other than adjunct teaching. Some of them transition into consulting or business, but that's a very expensive route to take, they could have done that straight out of college.
Yup they care about experience in running operations or other business ventures, while this genius has wasted years in school other people spent that time climbing the business ladder getting valuable experience and any large corporation would hire them instead 100% of the time.
If anything is hurts your chances at being a CEO, he's wasted him best time in the workforce to build a resume and instead has a six figure debt for a paper.
My jaw was open for about 40 seconds when he spilled out how much he’s in debt. And his career aspirations are beyond insane.
Yeah, when he said “I’m looking for other resources” he sounded so dumb and sheep-like. He’s 100% a follower. There’s no way this guy is going to be a CEO
To be a CEO, you need to be smarter, more logical, less emotionally weak, and more pragmatic. You also need to be able to make quick decisions
The fact he’s been hemming and hawing for months over whether to even file bankruptcy at all… the dude isn’t made to lead. College SCAMMED this man
@@anacorreia8058 not true. CEOs drive companies into the ground all the time and sometimes it’s because they hire guys like this Or because their irrationally greedy..
If he's going to spend all that money on college, he should get a degree in accounting, computer science, business administration, or something that's going to help him get a big salary.
I’m a high school drop out.
I make $52k.
I have zero point zero debt.
My house is paid cash.
I’ve been a laborer all my life.
I paid my daughters college cash.
It’s not how much u make
It’s how much u spend.
Amen!
Well done.
Good work
Facts! My grandmother who was a bus driver always told me the same thing and that's what I tell people.
And the biggest thing is you got a really early start without going into debt. The guy on the phone call is going to be half a million in debt at the age of 30 and probably be about 45 by the time he can start enjoying his life.
My man needed to make this call 8-10 years sooner 🤦🏼♂️
Tbh i wish no one needed to be calling this show in the first place
I had an anxiety attack just listening to this.
Truly!
LOL :-)
🤣
You’ll be all good, God is good, everything will be alright, all the best
lol :)
I’m genuinely shocked that people are allowed to even borrow more money when they owe so much! 😳🤯
Well said.
But say no to giving small business loans
And then go on to say they want to be chief FINANCIAL officer
That's a big problem for Americans
That is why Student Loans are considered predatory loans. There is little consideration to how the loan will be paid back.
too much education. Need real world experiences.
He's getting his real world education right now by working as a respiratory therapist.
well said
Very true. I had a family member with a business doctorate who is a professor at a large University. I went into a partnership with him.....huge mistake. Horrible business and it tanked. he went bankrupt. Then those of us who who went on were left with huge chunks to pay off. I think these kids need a Ramsey course and watch the movie Back to School with Rodney Dangerfield.
It's not his fault though. Society hypes education to the point that people study for years just to get a great job, but in the end experience and hard work trumps all that. These days you dont need education to get rich or have a great career. Education is sold to get you a job but all it does is help you learn/study things. Education needs to stop being sold as a dream, because in reality it isn't.
Rạfat education is also marketed as fun. And it kind of is. Just a few hours of class a day, being able to spend your afternoons hanging out on the quad or at the state of the art library while studying. And to boot, you can go see your friends every day. Compare to work, where you’re packed into a crowded office all day. This is especially true when you’re in your late teens and early twenties, where your non-military options are basically college, or a job where you’re micromanaged like crazy.
Wow this dude got scammed, no piece of paper gets you a short cut to a VP or CEO position. What was he thinking.
He had no mentorship and unfortunately no one wise was around to advise him.
The funny thing is that he hasn't even realized it. He already has hundreds of thousands of dollars of debt but his plan hasn't changed...
@@shakemiz Another crazy part to this equation is the fact that MOST pple can't find a job with BS in Health Care Admin & he's here doing his PhD lol good luck with that in that field. I wouldn't go that far in this field.
He could get a VP position with a bachelors degree and strong experience. But he doesn’t sound smart enough to be in a role like that (don’t mean to insult him).
@@agustino42491 a "nurse" that makes a difference...the person has the clinical portion as well as the mgmt portion down so this is viable.
"I'd like to apply for the CEO position." 🙈
I'm no expert, but this guy doesn't sound like a CEO
DEADDD😂😂😂
Everytime i feel overwhelmed about my situation I listen to calls like this and realize mines isn’t so bad
😂😂😂Agree!
Amen, brother. I remember going in my lawyer's office and saying I'm not filing bankruptcy.
2 minutes later I'm on the phone with my wife we're filing bankruptcy
Same…..
@metsfanr86 what I never hear them talk about is the fact that if you start fixing your debt and then for some reason you can't at that point you may not pass the means test to file bankruptcy and now you're really in trouble
2 people with college making less than $60,000 WTH!!
Right i work at a factory and make 75,000 without really working over time.. i never went to college and i run circles around most folks i know wity degrees..i have everything they have. By the time they catch up in they 40s i would have had it already.
Joe joe 🐐
@@JohnSmith-bk6ec You guys got it down to a science. Good for you
@@thatscardo86 I dont make much as you. But i only took a 4 month class and got hired right away. Started at $20 hourly and went up to.$29 hourly in 3.5 years. About to start my registered nurse program for my first degree ever lol
College is not.always necessary
Miss Y should not have gone to college.
I'm from the future. Spoilers, they didn't cancel all student debt.
They never said they would.
@@julianskinner3697 sexy
Heeeeey one of my favorite tubers on the Ramsey channel! Nice.
*Any
Ya don’t say. I’m from the past. I could have told you the same thing
Situations like his can really push people to suicide when they dig a hole they can't get out of. I hope this man can end up happy in life.
Don't need a degree or a high paying job to be happy. This dude has priority problems
unnecessary doctorate degree
He can just walk away. The sue and garnish what income? $57k?? Nope
He's young enough to dig out of it with his wife.
That guy at the desk with Ramsay sounds like a superhero or super villain - what a voice!
When he listed his situation I got more and more tense. Newborn child, CC debt, Student loans. Then the PHD reveal. Brutal.
Yeah, just hearing this stressed me out big time.
Exactly, my blood pressure was going up the more he was talking
So sad
He shouldn’t be making babies or a family when he’s in that much debt.
Dont forget the mortgage, car loan and personal loan....
He's a professional student. He should probably put that respiratory degree to work now. Drop out of that PHD program and work 2 jobs.
He definitely is. I know a few people like this. Constantly in school because they don't want to face having to join the workforce. While having an advanced degree can be helpful, it is not needed for what he wants to do.
@@haute03 yikes
Right. He can make a ton of money being RT and working overtime shifts
@@haute03yep school all his life. Don't want to face reality
A lot of PhDs are kind of a joke honestly.
PhDs are worth it. But if you have to pay to get PhD then it is not.
@ihategooglespooks Well I just think if the PhD isn't in STEM, one has to look hard for funding and that can be difficult but not impossible. So many STEM PHD degrees however offer full tuition paid, benefits, and stipends. It's been a good investment for me.
Its "Dr" word written before name.
I have a PhD in Gender Studies.... and now I work the drive thru at Starbucks......
@ihategooglespooks nope, financially phd is never worth it, I'm 4 year degree engineer and PhD get paid same as us, chase we got 5 year lead on PhD, 4 year degree engineer with 5 year exp is same as phd
The problem is that the path to an executive position has only a small part to do with education. It’s really about your ability to lead and manage teams. You can learn some of that in school, but about 60% of it comes down to your personality and experience. No one cares how educated you are if they don’t like you.
Yup
He definitely doesn’t have the personality for it, too timid and unsure of himself
probably don’t even need education
@@noushs8004Exactly. He couldn’t lead a a duck to water.
PhD is meant to de research, not managment
When Dave asked what his doctorate degree was in, I was literally biting my nails in anticipation and worry
Me: Please please don’t say something crazy
Caller: Organisational leadership with a focus in health administration”
Me: 🤦♀️🤦♀️🤦♀️.
I just knew Dave would start stressing. This whole call was stressful. Who needs a PHD in leadership? Jesus, take the wheel 😩
LOL... Great comment !!
Agreed!
There were no cars 2000 years ago. Stop asking Jesus to take the wheel.
I know. Leadership is something you learn through field experience, not a doctorate. What is specifically different about running a hospital than it is running another type of company that it requires a doctorate?
@@benjaminralow1176 that saying has nothing to do with a car. You must be young smh lol
He already is CEO: Chief Executive Overspender.
😂 😂😂
Except is overspending in a terrible way, loans!!!!
Bro ! I spitted my drink laughing so hard 😂😂😂😂
I like that I'll use that with my wife. :)
🤣🤣🤣😂😂
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
Could you possibly recommend a CFA you've consulted with?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
John, forget the doctorate...take a math class.
HYSTERICAL! BUT TRUE.
Truth!
They should make Dave Ramsey or a Dave Ramsey like class mandatory curriculum for high school and first year college students. But the powers that be would not allow it lets face it.
@@dontundra2259 Never going to happen. If you teach people proper math then the governments accounting practices and poor use of money would be apparent to everyone.
He he
$400 on my CC with a 18k limit gives me heartburn....how are people ok with $26k in CC debt?!?!
CHA-CHING
I have 30.00 and I'm waiting for it to post online so I can pay it off. I wonder how much on that credit card was eating out and buying clothes and junk.
When Dave said he doesn’t know where to start you know you’re done.
Toast lol
I said the same thing
Hard when the guy plans to accrue more debt for 2.5 years and is already well into his degree program. Only making $57k a year. Agreed, Dave was stressed just listening.
It’s personality, drive, and discipline that open the doors to a c-level leadership position, not a degree.
I know I don’t have the charisma, so at least I got the degrees. I did what I could.
I work for a fortune 500 company. The CEO has only an undergraduate degree from a no-name university.
@@tortoisehead30 Although the CEO is likely over 50, when ANY undergraduate degree was amazing LOL
The standard has DRASTICALLY increased in the past 10 years.
Couldn’t have said any better!
Good to know skill is not involved
Imagine going to school thinking you’re getting degree to go “apply” to be a CEO lol
*puts diploma on counter of hospital reception desk*
"I'll take one C-suite position, please!"
“I’ll take your job please”
It is a managers position at a hospital.
You need income
Exactly!!!
When your plan is to “be in an executive leadership position” rather than learn a skill of value to accomplish endeavors of value, you’re already starting off in the wrong mindset.
How universities can charge this much is beyond criminal
It’s ridiculous indeed.
Because idiots like this guy keep buying.
No university charged this much. He pulled out a student loan to lay for college and to pay for bills. He didn't want a job somewhere in between so he used his loans for personal shit. You shouldn't pay no more than 100k for college. That's pushing it hard. You don't need to go to a supreme school
@@tristanmolina894yeah also the more easy money you give to universities, it just inflates the cost, it’s pretty simple economics
360k is student and house loans. He also uses student loans to pay for his daily bills
I’ve been a healthcare manager for 17 years. Started in the military as a Health Services Manager and have a degree in Business. You don’t need a PhD, you start working then continue your education as you work.
Any advice Im in the military and finished my assossiates in health and about to finish a bachelors in health an wellness I want to step into health care management when I get out.
Exactly
This. And frankly this goes for anything. Once you have a license or certification or degree IMMEDIATELY start working and then work your way to what you actually want
Man these calls make me feel a whole lot better about my situation 😊
🤣🤣🤣
Same.. Lol
Same man, never have I felt better that I chose community college.
Fixing your situation should be the only way you feel better about it
You r funny
And I was stressing over a 5k debt
Good, that means you’re responsible. Living with debt is never okay unless it’s an affordable mortgage.
never lose that mindset
🤭
@I am me • 25y ago no it won't lol
Same lol
Wow. Anytime I feel like my life is tough or get frustrated in the wealth building process, I just listen to calls like this and I feel immensely better.
Same here. Makes me truly count my blessings.
💯💯💯💯
Same.
same
Or instead of patting yourself on the back, you could help your fellow man?
"Oh I was NOT aware of that."
Please nobody ever put this guy in charge of anything in a hospital. I already can't afford any serious medical care.
Ugh, I’m inclined to agree but then again he is 28 and married and with a child so his life appears to be about schooling and family as opposed to keeping the pulse of personal finances.... I hope he learns a big lesson for both areas: personal and business
Lol good point. If you aren't able to manage your personal finances, how are you going to manage a hospital or company finances. Don't give me that old he can pay someone to do that. No. It's important to understand the financials and lead an organization to manage them well
Lance Knuth lol 😂
I’m extremely good with personal finances and didn’t know about that too. I never took a loan and don’t know much about debt-related matters.
@@thecatnextdoor12 To have never taken on debt you are in fact extremely good with personal finances. That is impressive.
If one does not operate in the debt marketplace I can understand not being aware that accruing more debt while cancelling others is not possible; however, as Mr. Ramsey pointed out as a matter of principle one should not be doing such a thing. With a history of taking out debt from multiple sources I would have thought that John would have at least understood that failing to pay debt constitutes theft.
How's he supposed to be a CEO and manage a budget of millions of dollars when he has no concept of financial responsibility?
awesome comment
Great point
or common sense in general.
Man I would never hire him he’ll bankrupt the hospitals 🏥😳🙄😲😬
@@spankynater4242 sounds like most ceos I've worked for lol
Never pay for your own Masters or Ph.D. degree. Get a company, a grant, or a graduate teaching position (grader job) to pay for it. - A Ph.D. Student
Srudentr who maybe first generation and have not been exposed to the educational path, may not know this. They may not know how to calculate these practicalities. Financial literacy is also a matter of privilege. If one has seen their family struggling for pay check to pay check, the chances are high they donot know how to manage finances.
@@Applauseify I am only going to be a junior next year for my bachelor's degree and I know these things because my teachers and other students repeat this. To be fair, I am going for a B.B.A. or Bachelor of Business Administration, so I have taken a principal Finance class, but I do not know how that info doesn't travel around just by talking to people! How many other students applying to masters and PhD programs did he talk to and not one person told him about these things.. It's kind of unbelievable.
@@Applauseify In the age of Google and TH-cam, information is not a privilege.
Yea this guy isnt smart most if not all respectable phd program give out grants for the exactly the thing you just described. Let's be honest this guy doesnt know what he can do with his degree. Even the way he answered dave's question is sus "doctorate" and "health care adm". No one actually going somewhere in their actual career wouldnt go school and not actually work on his career at the same time. He's doom
Fact!!!
man i thought my situation was bad, but things are looking up...praying for this guy
He wants to be a CEO and thinks people can take loans while bankrupt 🤔🤔🤔
Even worse...this guy is managing someone's airway on the vent! I can imagine what he's like to work with. A know-it-all that like to be condescending! I've worked with plenty of those "types" in the hospital!
Bankruptcy is a euphemism for stealing
McLean Anderson
Correct. And Dave Ramsey is the master thief. Only to start a Christian finance program afterwards. 😆
Top Comment wym
Sounds about right. Our government does it so why can't he lol
Chris Hogan is awesome. "you've been sold a fake dream" -- amazing.
Your high school counselor would disagree
His voice just adds to the overall doom of the situation.
@@Chris-fe5nk Yaah, well they are the ones pushing people into a lifetime of debt, and not honestly assessing the value of certain degrees.
@@Musicienne-DAB1995 yea I find it a disturbing trend. My nephew's counselor talked him into attending college, a decade later he can barely stay on top of the loans he took out.
Dave Ramsey's insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life. The Total Money Makeover is my go-to guide, and I appreciate how he breaks down complex concepts into easy-to-follow steps.
As a respiratory therapist he would be making so much, why isnt he interested in doing that? That's so weird! A PhD is far from necessary. During this pandemic they were offering RTs 10k/week!
Yeah. Respiratory Therapists are having the time of their lives because of the China Virus. It is a good time to be one.
Yeah RTs hit pay dirt!
That's my first thought. He has a great degree already. Why jump into another so soon?
He wants to be a CEO.
@@MrSkyline350gt 10k per week for RTs?? Is this real?
When you add in the mortgage, the dude is $500K in the hole. Dude, beg your university for a master's degree, go get a mid-level job in your field, and climb the ladder. Finish the Ph.D later.
Put another way he's half a million in the hole .. scary
I exactly said that, Dude should just get a mentor or join a startup company or start at HR and move up and jump ship into hospitals where there are big bucks and move up! He went so left and down a hill
Or SKIP THE PHD ENTIRELY
He has $300k in student debt and he's only 3 years into the PhD program. Add another $150-200k to that as well if he chooses to finish.
I wonder if there were no scholorships for that PHD.
I am in healthcare and I have never seen anyone who landed an executive position by getting a PhD. You need experience!! I would stop the studying and just get a better job and work your way up. And like Dave said, get the organization to help pay for it. Also, another thing, people don't like hiring over educated and under experienced people.
all them degrees is a red flag for hiring managers
Amen! So true!
I worked in medical research for years and the top administrators told me that "phds are a dime a dozen". There are a lot of them and having one doesn't mean you know how to do anything.
Exactly! Education is one small piece if his career! Get some experience now!
Yes, experience and maybe a Master's is all he should really need to enter the career he's interested in.
First of all, this whole economic chaos was powered by optimism that the FED is done with hiking interest rates. Now that interest rate crash is the situation, where do we go from here? How would you advise I safely allocate $250k funds at this point?
The market is volatile at this time, But doesn't the Federal Reserve's monetary policy and low interest rates contribute to the current valuations? hence I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/ETF you focus on.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
This sounds interesting. My portfolio is in the red. Can you recommend your analyst, please?
’Sharon Lee Peoples is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
!!!SCAM!!!
THIS COMMENT CHAIN IS FAKE, FABRICATED BY A SINGLE PERSON USING MULTIPLE ACCOUNTS!!! NONE OF THESE PEOPLE ACTUALLY EXIST!!!
Its designed to lure YOU into wasting your money while thinking that you are investing in your future. Do NOT fall for it.
YOU DON'T NEED A PHD TO BE A CEO.....
Yup Gates dropped out, has a criminal record
Diem Golightly to be in healthcare leadership you’re going to need a MBA or MHA these days.
@@kp2638 or a 2 year degree like Richard Scruchy
@Diem Golightly you don't even really need that
@Diem Golightly Steve Jobs, Bill Gates, and Mark Zuckerberg will tend to disagree with you.
“The quickest way to double your money is to fold it in half and put it in your back pocket.”
-Will Rogers
Well I'll be those losers investing in the stock market pffff
Indeed. I keep my money in the bank, I paid off my house and I live a frugal modest lifestyle. Sure my money in the bank doesn’t make much but I never loose it when there is a downturn in the economy and I don’t have the endless stress of worrying when the next crash will arrive and wipe out half my wealth. I will take half of something over all of nith8ng any day.
Stealing this
Inflation will ruin the value of keeping your money saved vs the stock market
@@armandopacheco-soto3592 Also if Uncle Sam keeps printing trillions. We might as well start acquiring assets with it.
The main purpose of getting a Ph.D. is to become a college professor or scientific researcher. To become a businessman you normally start working as soon as possible, then do night school if necessary for your job.
Yes. I've been in sales for over 20 years and once a very good foreign currency trader managing millions of dollars for my clients back in the day. You'd think you need an MBA to do that?? Nope. I was a University School Dropout. My bosses and the owners of the company at the time were dropouts as well.
CEO in particular requires many years of staging yourself over different leadership positions. Starting from junior management, then multiple senior level management positions, before even being considered for executive positions. Although certain attributes are important, such as good writing and presentation skills, most of your talent is going to shine with leadership. Meaning, technical talent is not really important. In fact, it can be detrimental if you become micro-management oriented trying to focus on technical you learned in a specialized skillset when you should be delegating those tasks out.
Exactly!
I have a Ph.D in Ph.D
Absolutely. You can transition to the business side of the STEM industry after starting out in research, I have a family member that's a CEO of a pharma company, but you don't need to go into debt for that, Biology and Chemistry PhD's are free with a living stipend. Another path is management consulting, those frequently lead to high level business jobs, and the company you work for will pay for you to get an MBA at night. There's literally no reason to go into debt for graduate degrees if your goal is business. There are a very small number of professional track grad degrees that it makes sense to go into debt for, like an MD, not made up PhD's like this caller is getting. What a nightmare, he made a huge mistake. Didn't his college have professors and career counselors to talk him out of this? Yikes.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@@devereauxjnr Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.
@@Tsunaniis-j5l That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.
@@MakeamericaGreatagain-h7j credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up
@@Tsunaniis-j5l Thanks for the info, i found her website and sent a message hopefully she replies soon.
Just one more person who borrows huge amounts of money, want's to file bankruptcy, walk away, "take" more money, then let the rest of us pay for it.
Bad part is there are alot of this entitlement mentality, I get what I want and the rest of us pay. I worked 2 jobs and did it as I payed. It took longer, but got through owing nothing. Btw I had 2 kids and it was hard.
He won’t have student loans dissolved in bankruptcy. Truly the one piece of debt that sticks with you
Both of you are so correct. I had hard times for many years as well. My bills were always payed and most importantly, I did without instead of just making more debt. Now, all is well not having to worry all the time.
Tom Boyd that’s amazing! Congratulations!
ihategooglespooks I hear you man. Some people deserve the pain that socialism brings with it. Unfortunately, socialist don’t give up their power willingly, so it could take decades and war to get our country back
He only needs an MHA. He’s getting a Ph.D for no reason. Most C Suite executives in healthcare have an MHA or an MBA. Smh
Or a MCP
"But the college advisor said..."
harrison wintergreen The college advisor couldn’t get any other job so he/she became the advisor.
sara yup I’m getting my MHA now and I graduate next Spring. Idk who he got his advice from smh
The MBA would be most versatile here.
Did they miss the part were he said he's a respiratory therapist? I get the feeling he wants to be called a doctor without going to medical school.
lol agree
Lol This man could be working for a hospital as a respiratory specialist. Have the hospital pay for his PhD, and rise up the ranks to become their CEO. May take a little bit longer but it would be a lot cheaper. Now he got tons of headaches. Don't envy him.
Diem Golightly bingo, this guy wants the status of a fancy job without having any experience aside from studying
Good point, especially with a degree in chemistry. I thought when I heard that he probably thought he'd be a medical doctor. I worked in the medical field for years and know it's the business department that dictates medical care patients get. I think he's pretty wise about his career goals, but needs to find more resourceful means of getting there. With his undergrad degree and hospital experience, he'll make a very good administrator. God bless him!
@@pic376 He IS working as a respiratory therapist.
I just got angry listening to what this guy put himself and family through and then felt ashamed of myself when Dave decided to help them pro bono. So nice of you Dave what a great role model you are..
Dave filed bankruptcy. Also the callers wife is in debt too. No one’s perfect.
but the other guy said, "the first session". Hopefully its more than that.
I got angry that he had thoughts of letting the taxpayers bail him out.
"I don't have a fancy degree. But all the folks who work for me do." - 50 Cent
An isolated incident doesn't prove much. The vast majority of PhDs make more than the vast majority of musicians.
@@TheFishingNomad Well it was more of an example, not an isolated incident. You could find many examples outside of the music business
The Fishing Nomad yeah, and 50 cent is garbage
@@00PAKAL00 same stories outside of the music business tho. It's true that you can be successful without a degree, but on average, a degree offer more security and higher income over the lifetime.
A degree doesn’t guarantee anything. Degrees used to mean something back in the 60s 70s but nowadays they’re overrated
Chris hogan’s facial expressions and Dave Ramsey being left speechless is all we need to see.
This guy did not think anything through. Honestly, he doesn’t have the long term vision to be in the c-suite position. The decisions he made tells you he is not a critical thinker nor organize. There is no degree that propels you into a CEO role. Poor fella. He posted in the comment section and it sounds like he’s heading in the right direction.
Where?
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
As you plan your retirement, be sure to
talk with a financial advisor who can help you make the most of your retirement investing scheme.
@@harrisonjamie794 Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@MarcelPhilips How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@harrisonjamie794 KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
@@MarcelPhilips Thank you so much! Found her webpage and left a message. Hopefully, she responds.
Delusional. Who gets a PhD with CEO/COO/C-Suite as the end goal without an inkling of the industry or company he's pursuing? He has no idea what he is doing.
His mum's advice is stupid. If he goes bankrupt, no company will hire him as a CEO. How could they trust him?
And his wife is happy to join in dragging him down, with her beyond stupid studfnt loan attitude.
He has already bought the ties!!
He will be the real life Breaking Bad character! 380000 in debt with a chemistry degree. I see the desert and a rv in his future.
😭😭😭😭😂
😂😂 “Say my name”
Ha
D B That's savage
Needs to take the equity after selling the house and car and pay off the debt.
He's a professional student. Chemist, respiratory therapist, hospital ceo he's a master of none. If he hangs out with that lawyer that may be his next direction.
He just found Dave's Baby steps. He's going to become a financial advisor
😂😂 that I thought respiratory therapist are doing a lot money during the pandemic, and as a chemist he can start at 60 or 70K, if he want to get a PhD better start a job and in long way see if the company will help you out
I felt attacked by this... because I have had the same kind of attitude.
People that think going back to college is the answer to everything are basically financially illiterate.
@@TheRealEdStoner Yep. Basically my life story. It's a dangerous mindset.
I was having a bad day. But not as bad as this guys. Thank god!
Having an anxiety attack just listening to this. Best of luck to this man and his family.
He's finished
I'm not so sure this guy is going to become a CEO
This is the most jaw-dropping call I've heard in a while. Dude has a chem degree but then switched gears in the worst way possible. Chris and Dave could spend an hour just unraveling through this guys mess.
IKR? Hard science, hard/marketable skillset (respiratory) but he’s pushing for a PhD as a leader with no experience in the trenches? Wow.
I know people with science degree that go to law school it's not that uncommon.
iron monkey Actually people with science degrees are a great fit for patent law.
@@medebarr I monitor clinical drug trials. He could apply to be in a training program and get to six figures in a few years.
Dude clearly didn’t do proper career research and rushed into this deception he thought was a realistic path. I switched gears at age 30, was working retail banking making $40k in horrible micro-managed environments. But I did my research and looked for the best technical career I could transition to without paying an astronomical amount of money. I went and got a Masters in Info Systems with a $30k loan, and here I am 5 years into my career as a Business Analyst making $100k.
This guy was definitely living in a dream. I hope he has woken up by now. You don't get to a executive position because you have a PHD. Executive positions are all about management skills; how to manage a company and how to manage people. PHD is all about making new development in a field.
Absolutely, he should have focused on working instead of studying
Yes, he should have just done a Master's and focused on work experience.
This guy made horrible choices. 1. Getting married 2. having a kid. 3. taking out a loan like that to become a VP? He's better off starting his career early and working his way to VP.
Totally agree. If you have the high dreams of pursuing a career high powerful career you really gotta slow down the other areas (marriage kids and even schooling). I think he thought he could have it all- the simple life and the high life...
I said the same thing. I would have divorced him. I will never want a man with irresponsible spending that can affect the rest of your life. These aren't mistakes, he knew he couldn't afford all this stuff like he is a millionaire.
lol he wanted to be a CEO by having a PhD.
Getting married and having a kid are horrible choices?? Or do you mean moving forward with those things in combination with debt?
@@itonner231 You have to make sacrifices for a high flying career. Getting married and having children early in your life will slow you down. You can't have your cake and eat it too.
This is sad, the education system is criminal 😢
No it isn't, people are stupid and they don't THINK before they just pick a degree without planning ahead for a career!
Betty Smith ya, I agree. The educational system is NOT criminal. No one was forced to agree AND sign for a student loan 🤷🏼♂️. It’s no one’s fault but their own to borrow ridiculous amounts of money for a meaningless Doctorate that wasn’t even necessary 🤷🏼♂️
He is stupid not the system
Can be **
Educational system ? Sir it’s a business !!
Bless his heart - I work for a healthcare organization and the thing about leadership that has NOTHING to do with title is that people need to LIKE YOU. If your community doesn't embrace you, you're not going anywhere. That goes for ANY ORGANIZATION, regardless of field. Community and relationships are EVERYTHING!!!
100% agree
I said the same. I worked in hospitals and healthcare and I can promise that when the hospital executives step down, their replacement was hand-picked from a small, nepotism pool of friends 2-3 years prior.
facts
Yep I work in healthcare and what you say is FACTS.
I would not call it "community and relationships". It's just the "good old boys club".
Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@IAMBETTERTHANYYOU That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@sommersalt88 Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
Her name is "JILL MARIE CARROLL", can't divulge much. Most likely, the internet should have her basic info, you can search her online as she is SEC and FINRA regulated.
@@sommersalt88 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Companies won't hire some outsider with no professional experience onto the Executive Board just because they have a PhD. He should start at the bottom and work his way up like most other executives will have done. If he had done that he would have earned a salary instead paying for studies. He's going to have an unpleasant surprise when he works out he can't join a company at the top with no experience.
@Diem Golightly Anything less than executive is below him.
if he had leadership potential would have been recruited or promoted into it by now.
He will be lucky to even get a supervising position with no experience. Probably will have to start at an entry-level, as bad as it sounds.
Overqualified
I tell my sons. Look they dont let you drive the Firetruck on the first day. They just dont..
Take personal responsibility dude. People like this make me sick. Pass on your bad decisions to the rest of us, thanks.
Agreed, however it’s so entertaining to watch calls like this one, it may be almost worth the cost.
@@devilsadvocate7059 Maybe as tax payers? I honestly don't know
Yeah WE are insuring those federal loans as taxpayers. The lenders are sure to get their money, with interest, because the federal student loan program is a disaster, and the callee is a prime example. Administration positions in healthcare start out at 50-60k if he’s lucky. It’ll be a while before he even breaks six figures while the meter is always running.
@Csab Oh, apologies.
This guy is on a journey grabbing degrees every couple of years.
Dude if you're not able to reach executive position with a M.S....rest assured you can grab 10 PhDs you won't be able to reach there as well.
I agree! He needs to get a MS in HSA and pursue a administrative fellowship
He's a career student
@@MaliciousSRT lol
SP392 I came here to make that exact comment! Lol
@@MaliciousSRT lol
My undergrad advisors told me that one should never pay for a PhD--if you don't get grants and scholarships to pay for it in full, then don't go. I did work on my PhD for a year, on full scholarship plus a stipend, but I dropped out because the degree was in low demand. 💯
I am in healthcare administration and for those roles you either need an MS or MBA or MD, docorate is a waste of time you need experience working in healthcare
This dude could have all his debt wiped clean and he would be in debt within 3-4 years.
yeah sounds like a slacker
@@matthewsims9469 I mean you're probably not a slacker if you're in a PhD program. He just sounds like he's someone who misunderstood that the point of higher education isn't to continue getting good grades.
@@matthewsims9469more like an idiot
And his wife is happy to drag him down.
But he’s the “CEO” because a degree is all it takes for everyone to be CEOs making hundreds of thousands per year🤣🤣🤣🤣🤣
“I’m 28, my wife is 2” lol😂
He said, "My wife is too." As in also 28. Haha, but it was an awfully odd way of saying it, took me a second.
Lol
rachel ericson uh yeah I understood that, it was just funny the way it sounded instead of “my wife is also”
Two, to, too. His wife is also 28.
Jonna Borosky omg please understand humor and sarcasm. You actually think that I took that literally and thought his wife was really 2?
Having a PHD doesn’t mean you are smart, clearly.
Yep. i grew up with a parent who had a PhD, whose terrible decision-making, abusive behaviour, and financial ineptitude ruined our lives and set us back financially when we grew up.
57k income means this was a bad investment.
It’s just time to start eating this elephant.
"Eating the elephant"? Never heard that term before, but I can figure out what it means.
Wise advice
@ihategooglespooks Dave uses this as a metaphor for "how to get out of debt?...pay off one loan at a time
57k is between the two of them. So it's even worse
I always find you commenting gems on these Ramsey videos!
Thanks for that! I just nod my head and keep learning lol.
A law degree probably would've set him up better for an executive position.
"I'm pursuing a doctoral degree in organizational leadership and I'm not even slightly ashamed to admit I'm lost and can't manage money or my affairs".
I don’t see how people can get into so much debt and not feel anything until it’s too late.
He doesnt see the irony that he wants to handle the money of a hospital while he found his way into 400k of debt
As someone with a huge amount in student loans, I feel for him and his wife. Praying they can get their act together and can only wish them the very best.
Thoughts and prayers
I'm not sure how sorry I feel for somebody who does it to themself. I know somebody who lost nearly a million dollars through no fault of his own. Those are the people I feel for.
This guy is a train wreck I would NEVER WANT HIM RUNNING ANY COMPANY!!!!!!
Oh he may ,and get millions just before the company goes bankrupt.
CAL123 😂😂
He’s a chemist needs to become breaking bad asap
Or having kids with my daughter
@@Tearial311 ROFL, brutal.
That’s more help then I have received my entire life.
I’m glad the guy is getting some help.
So this guy is not even working as a respiratory therapist in the era of coronona, he would probably be making 80grand at least
My thought too.
I mean, nurses can make much more than 80k now, a respiratory therapist would be up >100k
@@ErinWilke yes, & crazy incentives. He's probably settling.
From what I'm hearing, this guy is never going to run an organization. How could he be equipped to do that when he can't even run his own house?
Exactly
Boom HAHAHA
Probably would bankrupt the company as well lol.
What does one have to do
With the other lol. You think every CEO had their chit together with their own life? Ahhahahahhah
@@VHale-yz7hc has everything to do with it. He can’t even run his household how can he run a hospital? What an isiot
The guy is dreaming, They don’t exactly give out CEO jobs. It’s going to take them forever to pay this off unless he’s making 100 K a year +.
@BubonicTonic 100k is still twice as much as avg American household income.
BubonicTonic your lifestyle can make or break that amount of income. Also depends on the location you are living in.
No education propels you suddenly to COO position over others who have had years of executive leadership. What person sold him this garbage. I have a pet rock that I would like to sell to this guy.
@BubonicTonic depends on where you live. if you live on either of the coasts it's not that much but, the midwest its a lot.
Noone would hire him to run any type of company when he can't even manage his own debt. I feel for him. It's his doing I know but I can't even imagine
Oh man… this was terrifying to listen too….I truly hope they are in a far better situation now..,.3 yrs on…
Thank God I found Dave Ramsey when I did. Ppl are completely CLUELESS like this caller
A PhD in “organizational leadership” 🤣🤣 cmon man..... stop it. He has a degree in chemistry, he can go get a decent job making 70-80k....
John is really lucky to have found Dave and Chris. What a formidable response from their part, one of their finest.
I’m 47 with around $200,000 debt with $148,000 being student loans and my income is only $34,000 per year. These student loans go nowhere. They will haunt you forever and with those who have income as low as mine and no prospects to earn more, 8:59 it’s very discouraging and just makes you want to give up on life. At least this guy has prospects for a better income in a couple of years. I hope he is successful.
The university industry preyed on millions of young people with pure lies. A lot of professors and administrators need to be in jail.
You fell for the trap.
He is digging his own grave with a spoon vs. a shovel.
Common sense is leaned through experiences and obstacles we encounter in life.
20% of people learn and Never repeat the behavior.
80% of people will Never learn in this lifetime and remain stupid until they die.
Thank God he put his ego aside and called someone with common sense for guidance.
Naw. This is definitely a shovel.
Yes, exactly.
I literally have No Comment!!! I mean I really can’t believe this caller...... 🤦♂️
_Help! Someone help! Is anyone here a doctor?_
_Well, I have as much student loan debt as a doctor..._
Bodybag
This guy is going to make a great doctor of organizational leadership some day
🤣🤣
😂😂😂😅
Worked at Target through community college and university. Paid all of it myself. Didn't start until I was 21 since I was saving a little beforehand. I graduated with a bachelors right before I turned 27. No debt. People need to stop going to college immediately after high school.
IS WHAT THEY MAKE YOUNG PEOPLE BELIEVE, THAT IF THEY DON'T GO TO COLLEGE THEY ARE NOT WORTHY. WHEN THE REALITY IS THEY ARE DROWNING IN DEBT DUE TO THE HIGH COST OF STUDENT LOANS.
college only makes sense if you look at it as a investment to a career plan
GREAT JOB!
Absolutely correct. I went to Uni at 22 after working 5 hrs as well.
Work a job as you do it and pay as you go. You may be a few years later completing graduation BUT you don't have the burden of debt.
Chris Hogan's face as he listens is priceless .... I had my eyes wide open the entire time listening to this guy break down his situation.
😂