@@rogercvc6768some answers require more than a dollop. That is why I think shorts, reels, and tiktoks are so unhealthy because we think we got all the info but really there’s a 2.5 hour video that these 30 second clips came from
I was in the same predicament. I worked a very good paying oilfield job that I absolutely hated. Did it for almost 3 years until I couldn't stand it anymore. Took the money I saved and started a business. Now I make even more money and love working for myself.
Awesome! I did the exact same thing. I had an option to buy company stock at 15% below market value. I bought $800/ month and about three weeks after I quit the stock increasedover $30! It was an incredibly lucky series of events. I sold it and bought equipment to do my own thing and love it except for employees. That aspect sucks. Good for you though!
Admitting it isn’t sustainable is the best place to start, and he’s already got that. Another good question would be how is it bleeding into the other aspects of your life? Is it going to deplete you mentally/would you regret the choice to stay later, or is it worth it to prioritize the financial stability/feel generally unhappy and stressed about work for a handful of years?
There is a middle ground between a big law firm and a govt job. He can go to a smaller firm and maybe even be a partner and work less, have more impact and then eventually be a govt prosecutor. Maybe eventually be a judge and then get a nice pension.
You can still have a life working an 80 hour week. I've done it for long stretches. You do some work in the evenings and weekends but use a planner to fit some other things in. In my case, I haven't owned a tv for a year. That saves loads of time. I'd rather walk my dog and clean my house while listening to youtube videos when free, if not seeing family etc.
A handful of years is just that - only a handful. The man has an excellent opportunity to pay off his debt and establish a good financial foundation. He understands the temporary sacrifice will be worth it. He just needs specifics on how to maximize that benefit
@@dsstudio76 Agreed! If he doesnt have family, then 2 yrs is more then enough. He can even be fine with a year, but his government job might want him with more expierence so...he might be better off doing the 3-4 yrs anyways.
I’ve done it for 8 years now. I’ve saved 1.3 million but have little social life, drink too much, and generally feel like a worse person. I don’t know when enough is enough but you need to leave jobs that destroy your soul before it’s too late.
1.3 mill. Big props to you. If you look on the bright side, at least you were able to save money. Most people hate their job and are barely getting by.
@@Berry45 very very true. I often have to stop from feeling too sorry for myself when I know many people hate their jobs and barely even get by. I’m only 35 years old so I’m in good shape financially but there definitely is more to life than that. It’s hard to figure out what the “number” is and balance everything out.
but that's not going to give him an accurate picture of how life will change because his dream job is likely to be a much better work environment for him than his current job. a toxic work environment where you're putting in 80 hour weeks will make ANYONE feel like the money isn't worth it.
Assuming, he does his homework on what the actual take-home is, and probably will or already has done and being frugal over next few years, he should be fine. 🤞🤞@JAStudiospivotanimation
@@bigpat2436 110 is perfect, I used to jog at King Ranch at that weather. You can't do it when its 40 below. Rig move is a lot faster during summer than during winter.
@@bigpat2436 he must be in north dakota lol. I'm a truck driver and I run I-10 thru texas quite a bit.. i love stopping in monahans for lunch but sometimes that silty sandy hot wind in the summer is unbearable
One mark of over privilege for me is “I make five times the salary of the median American, but it doesn’t make me happy.” Not like you should be miserable, but like really? I mean I love to be a fly on the wall listening to people like this who can afford a house, afford to take care of their family, and have leftover money tell a guy working overnights in retail how miserable they feel.
One of my friends was working for his older brothers welding shop and the moment he got a job at a mechanic shop, which was his dream job, nothing could hold him down at the welding shop. He was even offered quite a big raise and still decided to pursue his dreams. Its a big deal to enjoy your job.
If this were my son I’d tell him to stay 5 yrs THEN make this decision. Use the 5 yrs to live as frugally as possible. Save and invest. More than anything listen to Dave’s advice.
Good idea! After paying off debts if he didn't fall into lifestyle creep he should stress test his government salary - meaning live off ONLY what he is realistically expecting to earn with the rest going to savings. Then he can make a real world decision instead of a 'change the world' at all costs decision.
Probably 3 years for me. No debt, don’t be flashy have about 200-250k I the bank. Take a small break/travel and switch jobs. Will still make at least $80k on the government side maybe even btw $85-115k. With 200k in the bank and no debt that’s not a bad paycheck inmost of the US
5 years is a very long time to be in a job that you hate & creating a lot of stress. I’d say that he should pay off his student debt asap then look for another job.
Secure basic needs. Pay off debt, buy a new house and car, which should last 10-15 years without any major issues. This way you will feel secure once you start earning less.
Don’t necessarily have to leave or change jobs. Some times cutting down your work hours by 20% (along with 20% pay cut) will work wonders. More time with the family/kids or putting some of that extra time to hobbies/sidelines that you enjoy.
80 hours a week equates to holding two (2) forty hour/ week jobs each paying $100k. Being under a single employer just makes for less flexibility. He wants out? So would I.
@@meme_enthusiast3021people think big law is like their regular job in HR or middle management at some non profit. They never even heard of billable hours and talking about reduce your workload by 20% 😂
That’s what I’m doing. I’m working 60 hours a week to make 135k. In about 5 years, I will be able to do half the work I do now, not exerting myself as much, working 40 hours a week for the same pay. It’s about laying the foundation now so that you can get to a point where it’s easy sailing. I want a low stress job environment while I still have a life to live in my late 30s.
I think that’s a very common problem amongst lawyers, a lawyer can be good at their job, but I don’t believe many lawyers find much enjoyment in their job.
I've been in a career I hate for 8 years now (trucking). I've got no more upward mobility, I'm making ~$90k plus overtime weekend work, but I'm still commuting/working 70+ hours per week. It's finally starting to weigh on me and I'm about to start taking classes to run straight through to a Master's degree in Accounting/CPA. I'm hoping when I make the switch I'll be able to at least come close to my current paycheck.
That's a hell of a jump. You going to be cool with going from traveling thousands of miles a week, to sitting at a desk, or very little movement at least?
Pretty much no way around working a job that pays good without having to work 60+ hours a week. The only thing you could hope for is to start your own business, which probably require 90 hours a week for a while until it’s somewhat stable and smooth sailing, then you can decide to work whenever you want
I was a late bloomer and didn’t start my present career until I was 26. I worked 65+ hour weeks, and I decided as soon as I got sick of it, I would do something else in the industry that wasn’t as high pressure. But a paycut seemed so…inefficient, I guess. So now it’s been 30 years and I’m still doing it. It was in the last decade that I decided that I just refuse to work over 45 hours a week, and that has worked. I missed a lot in my kids’ lives, but I’m thankful…many people in the same boat without any resources.
It’s rough because telling someone to stay in a job, they can’t stand means that they will likely begin to get diseases and stress and weight gain. I would stay in the job long enough to pay off my debt and then go to the job I will love.
The answer is “As long as you can take it “. Keep hoarding the cash until you can no longer physically and mentally take the work then quit. Take a year off (or whatever timeframe fits best) to recover, then pursue other avenues.
I make 70k a year and work around 30 hours a week. Construction industry. Zero college needed. His job doesnt sound all that high paying considering the overall cost
@patrickrobinson7541 pre construction site inspection. Our company does bathroom renovations, kitchen renovations as well as replacement windows and entry doors.
It's an opportunity to make more in a year than most people but hourly that's not a high paying job for all the time money and debt that it took to get there. Having a full-time $100k job and another full-time $100k second job would be a tough sell for almost anyone.
80+ hours a week for 200k. It comes out to be 100k a year job and if you have to buy your own lunch, then it's less. Compared to my, 80k salary, 40 hours per week, 30-minute breaks every 2 hrs, and can eat 5 times per work shift (before starting work, during 3 breaks, and after work). And no stress.
The answer is in the full video, this is a “short”. Link to the full video is at the bottom, between the name of the show and name of the short, just click on the small triangle and it will take you straight to the full video. Shorts are teasers or like trailers for the full video.
Do this. Only go to work for 40 hours. Only do what is expected of you on a 40 hour work week and prioritize yourself over your paycheck. If they get mad and fire you, well it will just accelerate your life into the next opportunity and they will make the hard decision for you. If they keep you around, then you are able to have a decent work life balance and you’ll just have to become accustomed to a simpler lifestyle, but at least you’ll regain some of your sanity. Lastly, start looking for ways where you can work for yourself and take those 80 hours and cut them in half and readjust those 40 hours into your own business. Invest $130 a week in a Roth IRA and no matter what kind of job you have, you will end with close to a million dollars by the time you reach retirement age.
Even 40 hours still a lot. Im 26 with $600 monthly passive. Does not matter if your making $100k - $300K blah blah. We only get to live 80 years. There no point of making too much money when all it can buy is Lambo, yacht, prosti. My goal is not to make $100k++ My goal is to get the fk out that sht hole ASAP!
I tell people that all the time. You work to live, not live to work. Personally I would rather make $60,000 a year and have a life then to grow old and have nothing to show for it
My brother worked big law at a top 5 law firm and had a similar experience. Was making over 300k but worked 80-90 horus a week. Had to repsond to an email or call within 15 minutes whether it was 3pm or 3am and was worked to the bone. He said it wasnt even implicit either. They literally tell you that you are getting paid what you are getting paid to be worked into oblivion. He lasted just over a year before moving to a smaller firm, and said you had to be in a good department or a unhinged person to last more than a year or two in big law.
80 hours a week for 200k. That's equal to what, 75k for a normal 40 hour work week with 1.5 overtime. Too bad lawyers are not eligible for OT as it really puts their hours vs pay into perspective.
I had a 500K/yr job that I HATED. Alot of stress, alot of conflict, had little control over my workplace. I struggled doing this for over 5 yrs, and during this time I saved, and cultured other options. One day, I was completed fed up and quit, and left the line of work that was very lucrative but was killing me emotionally. Long story short, I found new work that paid the same and did not have the same level of stress.
A low stress job is a blessing. A high skill job accompanied with high stress takes away the joy of living, no matter how much you earn. Its really not possible to switch off from duty mode to off duty mode at will. End of the day you realise all this to make someone else rich.
Don't ever give up. Stay strong good five years. Get million dollars. Investment property. Go from there. Remember 85% population hate there job. Ok. Your good keep working. Workout too, stay healthy.
I would say, take half the money you get each month (around 16.667$ in total which would mean 8.333$) and put it aside, in that way you could pay off your debt in about 10 months and then work for another around 3 years. You’ll have almost 300k by then and you could use this to either buy a house or apartment or at least have a great down payment (depending on the area in which live). Look how much you’d get paid in the other job and how high your monthly payments could be. See if that works for you and if it doesn’t, work another year or two there so your monthly rate goes down until its no longer a problem to pay for it. Thats what I would do.
High stress deadlines legal research case writting oral recitation bad clients etc. Etc. I stayed in a job I hated for 3 year going you can do it. And they don't pay me 200k
He said $200k It also depends on how the pay structure is set up. There are certain jobs that are round the clock no overtime, and that's just the way it is. Then there are normal jobs that are limited to 40hours a week before they have to pay you more. I'm not familiar with the legal world, but I assume most of your work is off the clock, which gets figured into your base pay. And then as you move up, you make commisions and what not.
If it were me I'd create a 5-10 year plan whereby throwing 100k a year into income into tax advantaged income producing properties until I had enough that my rental income met or exceeded the amount of pay id lose to make the career change so that I could make the move and still have the same income level and allow myself to increase the amount I live on while still allocating about 25% of my net to other investments.
3 years, enough to save, pay off debts, and establish experience and a reputation. Longer and you wont leave less and you lose one or more of the foundation stones mentioned.
I worked in major law firms for a couple decades. It is interesting to see the new class come in, impressed with the pay, then a year or two later when they find out the firm owns them and the amount of hours they have to put in they go running looking for a better work life balance at 1/2 the pay.
Pay off the debt then it is no longer about the income. Set up your house budget below the income of the job and you will be fine. Even as a govt prosecutor.
The answer is in the full video, this is a “short”. Link to the full video is at the bottom, between the name of the show and name of the short, just click on the small triangle and it will take you straight to the full video. Shorts are teasers or like trailers for the full video.
Make hay while the sun shines - pay down all the debt, pronto. Build a modest balance. Change work. Better for your soul to be in a job you like than one you don’t.
😮 Props to that caller!! ❤ But no way our income is close to that.. Growing up not having much I believe that is a lesson within itself!! I see now we've done some things right.. I believe we can do better but here's where I'm stumped on! The BIRTHDAY'S AND HOLIDAY'S!! NO JOKE! We have a large family. Those Holiday's are EXPENSIVE to get through!! ALEAYS HAVE WANTED TO ASK MR RAMSEY MY QUESTION, HOW do we avoid spending SO MUCH MONEY on those s particular Holiday's?
I did this during 2020. I was a housekeeper at a trucking company when no one had any staff. I fell getting into my car after two weeks in a row. I ended up with a grsde two Herniated disc and a spinal surgery. Do not kill yourself for an organization. Rather its a mental toll or physical toll.
I worked with lawyers for years. Most of them hate being a lawyer. I don’t care how much money you make, no check will be big enough when depression sets in that in a few hours it will be Monday and you have to go to this hell hole for another week.
He is already very aware of his situation, which is a great start. Ive been there. I'd say do it for 1 to 3 years (he's young and capable). Do more or less as you're able until you're debt free, have a fat emergency savings, and have gotten the ball rolling fast in investments. He already implied it shouldn't be hard in that first year to do so. Once that's done, go ahead and explore other jobs and rework the budget. The pain of working a job you hate short term is more betable and will pay off more dividends than the pain of having to work a job you hate when you're 60+.
I can answer this. Pay off your debt as fast as you can and then decide what lifestyle you want. If u want lavish house, nice car then you're going to have to work. If ur cool with a normal house and car then you'll be happy.
With Big Law. It all depends on how much you can stand. I've seen lawyers flame out in less than three years. Only you can make that decision good luck!
I would say two years. It’s a short enough time frame that you can see the light at the end of the tunnel when working 80+ hours a week and it’s a long enough time frame to save enough money to pay off your debt and put a healthy down payment on a home. If you can get your your monthly mortgage payment to a very sweet spot, then a lower salary would be very doable.
at 80+ hours a week, he’s really only making about $80k/yr when you factor in OT….but I get that most salaried jobs require you to work more than 40 hrs/week (though the value of the salary decreases as you work more than 40 hrs/week)
The answer is easier than most think. Once you paid off your debt in the first year then another of similar savings then start looking for another job. Once the other job gets found change jobs. If by the third year you still cannot find a job. Start looking for a more sustainable job one with more sustainable hours but similar pay rate. At this point you might want to consider quitting outright because working that many hours in a high stress is just not good health wise but luckily for you should have socked away $150K in savings by this time.
First I'd figure out what I wanna do once.I've become a prosecutor do I wanna die in that job?Where do I want to become the state Attorney General?Do I want to become a politician......etc
I loved the part where he gave his response.
Exactly!
@@celia-ov6rmwatch the full clip, the shorts are supposed to like the intro I suppose 🤷♂️
Me too! My favorite part.
You would think Dave could at least give a little dollop of his wisdom.
@@rogercvc6768some answers require more than a dollop. That is why I think shorts, reels, and tiktoks are so unhealthy because we think we got all the info but really there’s a 2.5 hour video that these 30 second clips came from
I was in the same predicament. I worked a very good paying oilfield job that I absolutely hated. Did it for almost 3 years until I couldn't stand it anymore. Took the money I saved and started a business. Now I make even more money and love working for myself.
Awesome! I did the exact same thing. I had an option to buy company stock at 15% below market value. I bought $800/ month and about three weeks after I quit the stock increasedover $30! It was an incredibly lucky series of events. I sold it and bought equipment to do my own thing and love it except for employees. That aspect sucks. Good for you though!
What business are you in?
@@jtcr4199pressure washing
What did you decide to do
@@tahneecoonan He decided to bullshit people on the internet, turns out there's no money in that.
Admitting it isn’t sustainable is the best place to start, and he’s already got that. Another good question would be how is it bleeding into the other aspects of your life? Is it going to deplete you mentally/would you regret the choice to stay later, or is it worth it to prioritize the financial stability/feel generally unhappy and stressed about work for a handful of years?
Well said
There is a middle ground between a big law firm and a govt job. He can go to a smaller firm and maybe even be a partner and work less, have more impact and then eventually be a govt prosecutor. Maybe eventually be a judge and then get a nice pension.
You can still have a life working an 80 hour week. I've done it for long stretches.
You do some work in the evenings and weekends but use a planner to fit some other things in.
In my case, I haven't owned a tv for a year. That saves loads of time. I'd rather walk my dog and clean my house while listening to youtube videos when free, if not seeing family etc.
A handful of years is just that - only a handful. The man has an excellent opportunity to pay off his debt and establish a good financial foundation. He understands the temporary sacrifice will be worth it. He just needs specifics on how to maximize that benefit
I think 2-5 years just take it one day at a time and set yourself up for a better life
I was going to say 3-4 years, but this pretty much sums it up.
Two years max
@@dsstudio762 years on 200k? You wont be set for finacial freedom... He needs to work there for like 10years minimum if he saves 100k a year.
@@dsstudio76 Agreed! If he doesnt have family, then 2 yrs is more then enough. He can even be fine with a year, but his government job might want him with more expierence so...he might be better off doing the 3-4 yrs anyways.
I did the same, gave myself 2- 5 years sliding scale but lasted 6, it was stressful but worth it for the financial freedom.
I’ve done it for 8 years now. I’ve saved 1.3 million but have little social life, drink too much, and generally feel like a worse person. I don’t know when enough is enough but you need to leave jobs that destroy your soul before it’s too late.
Id say your right about on that enough part, seems like ite affecting your health in a big way
1.3 mill. Big props to you. If you look on the bright side, at least you were able to save money. Most people hate their job and are barely getting by.
@@Berry45 very very true. I often have to stop from feeling too sorry for myself when I know many people hate their jobs and barely even get by. I’m only 35 years old so I’m in good shape financially but there definitely is more to life than that. It’s hard to figure out what the “number” is and balance everything out.
It's time to quit, take 2 months of vacations and few weeks for yourself.... Do it before you need to take that 1.3 on medical bills for mental health
I feel you brother, but that drinking is on you
Great video Dave!! I love the part when you say nothing! And especially the part where you didn’t leave a link to the full video!
😂
The link is there click on the small triangle at the bottom
This is where wisdom is required. Its great the gentleman is clear on earning to pay off a debt but putting his wellbeing under serious consideration👍
Find how much your dream job pays then start living on that much putting any extra in savings. Then decide if and when you can change jobs.
Solid advice
Probably some of the best advice i've seen on the internet in that past 12 months xD
but that's not going to give him an accurate picture of how life will change because his dream job is likely to be a much better work environment for him than his current job.
a toxic work environment where you're putting in 80 hour weeks will make ANYONE feel like the money isn't worth it.
Assuming, he does his homework on what the actual take-home is, and probably will or already has done and being frugal over next few years, he should be fine. 🤞🤞@JAStudiospivotanimation
This is really good advice everyone should like your comment so he sees it
I worked in the oil field for 12 years. I hated it especially in the summer, but saved most of my money. Now I just work part time.
Summer is nice time of the year, winter is the worst part.
@ Not In West Texas it get to 110.
@@bigpat2436 110 is perfect, I used to jog at King Ranch at that weather. You can't do it when its 40 below.
Rig move is a lot faster during summer than during winter.
@@bigpat2436 he must be in north dakota lol. I'm a truck driver and I run I-10 thru texas quite a bit.. i love stopping in monahans for lunch but sometimes that silty sandy hot wind in the summer is unbearable
@ Finally someone who has been in Texas. Lol you right he worked up north. Because summer time ain’t no joke in Texas panhandle.
That’s a tough one. I’d like to make a lot of money, who wouldn’t, but I’d also wanna be happy.
Yeah dude fr 80 a week ain’t happy
@@noahpickerill3749
Late response...but lots of people live for the grind because they're workaholics and they love it.
One mark of over privilege for me is “I make five times the salary of the median American, but it doesn’t make me happy.” Not like you should be miserable, but like really? I mean I love to be a fly on the wall listening to people like this who can afford a house, afford to take care of their family, and have leftover money tell a guy working overnights in retail how miserable they feel.
One of my friends was working for his older brothers welding shop and the moment he got a job at a mechanic shop, which was his dream job, nothing could hold him down at the welding shop. He was even offered quite a big raise and still decided to pursue his dreams. Its a big deal to enjoy your job.
How tf do u like cars more than fabrication
@@delayedsantanahow tf is that a question🤦♂️
WOW, crazy advice given here!!! Had to Watch it TWICE!!
😂
It's a snippet..... you press the "caption" for the full video.
If this were my son I’d tell him to stay 5 yrs THEN make this decision. Use the 5 yrs to live as frugally as possible. Save and invest. More than anything listen to Dave’s advice.
Good idea! After paying off debts if he didn't fall into lifestyle creep he should stress test his government salary - meaning live off ONLY what he is realistically expecting to earn with the rest going to savings. Then he can make a real world decision instead of a 'change the world' at all costs decision.
Probably 3 years for me. No debt, don’t be flashy have about 200-250k I the bank. Take a small break/travel and switch jobs. Will still make at least $80k on the government side maybe even btw $85-115k. With 200k in the bank and no debt that’s not a bad paycheck inmost of the US
5 years is a very long time to be in a job that you hate & creating a lot of stress. I’d say that he should pay off his student debt asap then look for another job.
Unless it's about investing
@@LeonardBreau These people would rather take 15 years off their life and get ahead financially than look for something fulfilling
Secure basic needs. Pay off debt, buy a new house and car, which should last 10-15 years without any major issues. This way you will feel secure once you start earning less.
All right folks that's all the time we have for today catch us next week
Don’t necessarily have to leave or change jobs. Some times cutting down your work hours by 20% (along with 20% pay cut) will work wonders. More time with the family/kids or putting some of that extra time to hobbies/sidelines that you enjoy.
Unfortunately, usually when someone works that much, it isn't by choice. They probably have to work that much to keep the job.
80 hours a week equates to holding two (2) forty hour/ week jobs each paying $100k. Being under a single employer just makes for less flexibility. He wants out? So would I.
You can’t do that working in biglaw
@@meme_enthusiast3021people think big law is like their regular job in HR or middle management at some non profit. They never even heard of billable hours and talking about reduce your workload by 20% 😂
That’s what I’m doing. I’m working 60 hours a week to make 135k. In about 5 years, I will be able to do half the work I do now, not exerting myself as much, working 40 hours a week for the same pay. It’s about laying the foundation now so that you can get to a point where it’s easy sailing. I want a low stress job environment while I still have a life to live in my late 30s.
I think that’s a very common problem amongst lawyers, a lawyer can be good at their job, but I don’t believe many lawyers find much enjoyment in their job.
Not a coincidence that they have one of the highest rate of suicide between all professions.
@@synewparadigmI thought it was dentists
@@bigjerome-wz4uo They are top 3, with policemens.
I've been in a career I hate for 8 years now (trucking). I've got no more upward mobility, I'm making ~$90k plus overtime weekend work, but I'm still commuting/working 70+ hours per week. It's finally starting to weigh on me and I'm about to start taking classes to run straight through to a Master's degree in Accounting/CPA. I'm hoping when I make the switch I'll be able to at least come close to my current paycheck.
That's a hell of a jump. You going to be cool with going from traveling thousands of miles a week, to sitting at a desk, or very little movement at least?
current accountant here. i hope youre prepared to work 70+ hours in this field as well. just sitting at a desk instead of in the truck.
Pretty much no way around working a job that pays good without having to work 60+ hours a week. The only thing you could hope for is to start your own business, which probably require 90 hours a week for a while until it’s somewhat stable and smooth sailing, then you can decide to work whenever you want
What's good money to you? @@JackHagar
I’m an accountant I make about 130k, go for it you won’t regret it. Plus fully remote CPA work is available everywhere!
I was a late bloomer and didn’t start my present career until I was 26. I worked 65+ hour weeks, and I decided as soon as I got sick of it, I would do something else in the industry that wasn’t as high pressure. But a paycut seemed so…inefficient, I guess. So now it’s been 30 years and I’m still doing it. It was in the last decade that I decided that I just refuse to work over 45 hours a week, and that has worked. I missed a lot in my kids’ lives, but I’m thankful…many people in the same boat without any resources.
“Hmm.”
You can take that answer to the bank!
It’s rough because telling someone to stay in a job, they can’t stand means that they will likely begin to get diseases and stress and weight gain. I would stay in the job long enough to pay off my debt and then go to the job I will love.
Great Answer Dave!
😁
I hate this I’ll try to find the time stamp
@@provingastrology4471 Found it my friend?
😂😂
The answer is “As long as you can take it “. Keep hoarding the cash until you can no longer physically and mentally take the work then quit. Take a year off (or whatever timeframe fits best) to recover, then pursue other avenues.
Pay off your debt and build a 6 months emergency fund. That go do what ever you want.
I agree!
Exactly what I thought too. Maybe also add save 20% for a down payment on a modest/simple home.
Yep, life is too short to be spending it all in a crappy job no matter how much they pay you.
That's crazy talk. If that's your plan you should never have gone to law school.
I make 70k a year and work around 30 hours a week. Construction industry. Zero college needed. His job doesnt sound all that high paying considering the overall cost
What do you do in the construction industry
@patrickrobinson7541 pre construction site inspection. Our company does bathroom renovations, kitchen renovations as well as replacement windows and entry doors.
@@michaelhawkins7835 I’m going to look into that, thanks for the free knowledge
80 hours a week making 200k is not a high paying job
It's an opportunity to make more in a year than most people but hourly that's not a high paying job for all the time money and debt that it took to get there.
Having a full-time $100k job and another full-time $100k second job would be a tough sell for almost anyone.
80+ hours a week for 200k. It comes out to be 100k a year job and if you have to buy your own lunch, then it's less.
Compared to my, 80k salary, 40 hours per week, 30-minute breaks every 2 hrs, and can eat 5 times per work shift (before starting work, during 3 breaks, and after work). And no stress.
What do you do for work
That was actually the best and most articulate question I've ever heard on here. Props to the guy
It's a predicament most would like. Do the job pay your debt, then live the life you want on that 80-100k
What life? He has no life! Besides people like that tend to be miserable and eventually are miserable to be around.
I wish i heard his answer. That was a good question
The answer is in the full video, this is a “short”. Link to the full video is at the bottom, between the name of the show and name of the short, just click on the small triangle and it will take you straight to the full video. Shorts are teasers or like trailers for the full video.
@@zestu82 If you've seen it, just write the answer
Do this.
Only go to work for 40 hours. Only do what is expected of you on a 40 hour work week and prioritize yourself over your paycheck.
If they get mad and fire you, well it will just accelerate your life into the next opportunity and they will make the hard decision for you.
If they keep you around, then you are able to have a decent work life balance and you’ll just have to become accustomed to a simpler lifestyle, but at least you’ll regain some of your sanity.
Lastly, start looking for ways where you can work for yourself and take those 80 hours and cut them in half and readjust those 40 hours into your own business.
Invest $130 a week in a Roth IRA and no matter what kind of job you have, you will end with close to a million dollars by the time you reach retirement age.
Working 40 hours a week doesn’t happen when you’re a lawyer. Especially not a first year associate in a large firm.
That is some TikTok advice, if I ever heard it.
Even 40 hours still a lot.
Im 26 with $600 monthly passive.
Does not matter if your making $100k - $300K blah blah. We only get to live 80 years.
There no point of making too much money when all it can buy is Lambo, yacht, prosti.
My goal is not to make $100k++ My goal is to get the fk out that sht hole ASAP!
You would get fired in 2 weeks at a big law firm doing this.
I tell people that all the time. You work to live, not live to work. Personally I would rather make $60,000 a year and have a life then to grow old and have nothing to show for it
Thank you mister Ramsey, that’s a wonderfully deep and thought provoking answer
I really felt that *”hmp”* in my soul
Pay off debt, take the cut, work less hours. Be happy
"I was hoping I could get your advice..."
"Mm."
Excellent.
Ride the wave until you can’t ride it anymore.
My brother worked big law at a top 5 law firm and had a similar experience. Was making over 300k but worked 80-90 horus a week. Had to repsond to an email or call within 15 minutes whether it was 3pm or 3am and was worked to the bone. He said it wasnt even implicit either.
They literally tell you that you are getting paid what you are getting paid to be worked into oblivion. He lasted just over a year before moving to a smaller firm, and said you had to be in a good department or a unhinged person to last more than a year or two in big law.
If you pay off that 88k in a year, while making 200k, once you’re debt free, you’ll realize how little you can live off of comfortably.
I LOVED Dave’s answer!
80 hours a week for 200k. That's equal to what, 75k for a normal 40 hour work week with 1.5 overtime. Too bad lawyers are not eligible for OT as it really puts their hours vs pay into perspective.
Young man, you already answered your question. Give your best, see where it leads you.
That why I left my law degree to mutch hours .. and now work in banking for 20 years.....
It will take a lot of thought about your personal financial and lifestyle goals, but it sounds like you really have it mapped out! Mazel Tov!!
Minumum until you have 6 months emergency funds, debt payed off and saved for 20% downpayment of a house and 100k invested in stocks
Great short! No answer, no conclusions.
If you're going to post a clip without the answer, please at least post a link to the video in the description.
Click on the small triangle at the bottom of the screen
Good question, good thinking and even better it’s nice to know someone gives a fuck about how hard they have worked through College!
I mean personally, I’d save up until I had enough to pay cash for a house. Then I’d have a fully owned house, no mortgage
I had a 500K/yr job that I HATED. Alot of stress, alot of conflict, had little control over my workplace. I struggled doing this for over 5 yrs, and during this time I saved, and cultured other options. One day, I was completed fed up and quit, and left the line of work that was very lucrative but was killing me emotionally. Long story short, I found new work that paid the same and did not have the same level of stress.
Come on, where's part 2? 😮
Doing what u love is the most important thing in life ❤ . Money aside , doing what u love is what life is all about .
Answer is "Mmmm"
A low stress job is a blessing.
A high skill job accompanied with high stress takes away the joy of living, no matter how much you earn.
Its really not possible to switch off from duty mode to off duty mode at will.
End of the day you realise all this to make someone else rich.
Don't ever give up. Stay strong good five years. Get million dollars. Investment property. Go from there. Remember 85% population hate there job. Ok. Your good keep working. Workout too, stay healthy.
Great advice Dave! Thanks. Your answer changed my life
Maybe a layoff and no incomes will be what he needs to shift to a gratitude mindset
I would say, take half the money you get each month (around 16.667$ in total which would mean 8.333$) and put it aside, in that way you could pay off your debt in about 10 months and then work for another around 3 years. You’ll have almost 300k by then and you could use this to either buy a house or apartment or at least have a great down payment (depending on the area in which live).
Look how much you’d get paid in the other job and how high your monthly payments could be. See if that works for you and if it doesn’t, work another year or two there so your monthly rate goes down until its no longer a problem to pay for it.
Thats what I would do.
"Yeah....." 😅
Dave's response was great!!
High stress deadlines legal research case writting oral recitation bad clients etc. Etc. I stayed in a job I hated for 3 year going you can do it. And they don't pay me 200k
For what I can tell people who just have money don’t have the stresses of people who struggle.
So he makes $100k/year if he works 80 hrs/week.
*about 200k a year
He said $200k It also depends on how the pay structure is set up. There are certain jobs that are round the clock no overtime, and that's just the way it is. Then there are normal jobs that are limited to 40hours a week before they have to pay you more. I'm not familiar with the legal world, but I assume most of your work is off the clock, which gets figured into your base pay. And then as you move up, you make commisions and what not.
😅😂😂😂. Dave's noise at the end said it all! Lol
If it were me I'd create a 5-10 year plan whereby throwing 100k a year into income into tax advantaged income producing properties until I had enough that my rental income met or exceeded the amount of pay id lose to make the career change so that I could make the move and still have the same income level and allow myself to increase the amount I live on while still allocating about 25% of my net to other investments.
3 years, enough to save, pay off debts, and establish experience and a reputation. Longer and you wont leave less and you lose one or more of the foundation stones mentioned.
I worked in major law firms for a couple decades. It is interesting to see the new class come in, impressed with the pay, then a year or two later when they find out the firm owns them and the amount of hours they have to put in they go running looking for a better work life balance at 1/2 the pay.
Just be careful what you wish for young man. Best to you!
Dave has such wise words for this guy, I loved his response…. Is what I would say if this video wasn’t cut short
Pay off the debt then it is no longer about the income. Set up your house budget below the income of the job and you will be fine. Even as a govt prosecutor.
God i love youtube shorts. Thanks for showing us everything in the clip
Thanks for the ANSWER! Come on man.
The answer is in the full video, this is a “short”. Link to the full video is at the bottom, between the name of the show and name of the short, just click on the small triangle and it will take you straight to the full video. Shorts are teasers or like trailers for the full video.
Solid Dave advice.
People not only asking Dave for financial advice, though for life coaching too! 😃
Make hay while the sun shines - pay down all the debt, pronto. Build a modest balance. Change work. Better for your soul to be in a job you like than one you don’t.
Great clip, amazing advice everyone must follow.
😮 Props to that caller!! ❤
But no way our income is close to that..
Growing up not having much I believe that is a lesson within itself!! I see now we've done some things right.. I believe we can do better but here's where I'm stumped on! The BIRTHDAY'S AND HOLIDAY'S!! NO JOKE! We have a large family. Those Holiday's are EXPENSIVE to get through!!
ALEAYS HAVE WANTED TO ASK MR RAMSEY
MY QUESTION, HOW do we avoid spending SO MUCH MONEY on those s particular Holiday's?
It depends how much do you want to have the freedom to retire and spend time with your family vs working a job you love and may not afford retirement.
I did this during 2020. I was a housekeeper at a trucking company when no one had any staff. I fell getting into my car after two weeks in a row. I ended up with a grsde two Herniated disc and a spinal surgery. Do not kill yourself for an organization. Rather its a mental toll or physical toll.
I worked with lawyers for years. Most of them hate being a lawyer. I don’t care how much money you make, no check will be big enough when depression sets in that in a few hours it will be Monday and you have to go to this hell hole for another week.
That's a very valid question
He is already very aware of his situation, which is a great start. Ive been there. I'd say do it for 1 to 3 years (he's young and capable). Do more or less as you're able until you're debt free, have a fat emergency savings, and have gotten the ball rolling fast in investments. He already implied it shouldn't be hard in that first year to do so. Once that's done, go ahead and explore other jobs and rework the budget. The pain of working a job you hate short term is more betable and will pay off more dividends than the pain of having to work a job you hate when you're 60+.
Ladies and gentlemen this phone call is a demonstration that lawyers actually aren't that smart.
I can answer this. Pay off your debt as fast as you can and then decide what lifestyle you want. If u want lavish house, nice car then you're going to have to work. If ur cool with a normal house and car then you'll be happy.
With Big Law. It all depends on how much you can stand. I've seen lawyers flame out in less than three years. Only you can make that decision good luck!
That stuff usually gets better when they become junior/senior partners. Stick it out
Imagine living on bare minimum, then a year of debt, a year of superannuation, a year on a house deposit and poof you’ve set up well
Minimum: Until you pay off the debt.
Maximum: Until you can’t handle it anymore.
Pick something in between based on your preferences.
Just realize no matter what you plan beyond 1 year there is no crystal ball and things happen.
I’m in the same predicament. I make $250k-$300k depending on the year doing in home sales. Burnout is real
Only you can answer that buddy. Health is not worth it no matter what. What's hard to estimate is when you work too much. Speaking from experience
The sweet grass break was beautiful 😂
As long as you can. If it starts to seriously impact relationships or mental health, then start looking into the other job.
"Great question. Lets see what the great wise Dave Ramsey has to say."
Dave: "hm."
Lawyer: *asks question*
Dave: 😶
I would say two years. It’s a short enough time frame that you can see the light at the end of the tunnel when working 80+ hours a week and it’s a long enough time frame to save enough money to pay off your debt and put a healthy down payment on a home. If you can get your your monthly mortgage payment to a very sweet spot, then a lower salary would be very doable.
Do it until you're out of debt!
at 80+ hours a week, he’s really only making about $80k/yr when you factor in OT….but I get that most salaried jobs require you to work more than 40 hrs/week (though the value of the salary decreases as you work more than 40 hrs/week)
They should call these clips “the most amazing questions, with no answers”
“Mmm.” Best advice 😂😂
The answer is easier than most think. Once you paid off your debt in the first year then another of similar savings then start looking for another job. Once the other job gets found change jobs.
If by the third year you still cannot find a job. Start looking for a more sustainable job one with more sustainable hours but similar pay rate. At this point you might want to consider quitting outright because working that many hours in a high stress is just not good health wise but luckily for you should have socked away $150K in savings by this time.
First I'd figure out what I wanna do once.I've become a prosecutor do I wanna die in that job?Where do I want to become the state Attorney General?Do I want to become a politician......etc