Caleb shouldn't be talking about someone's size. He looks like a young Ed Kemper. Has he looked at a mirror also? Or does he need to get a bigger mirror for each of his fat folds? Smh
@@dericanslum1696 his Dad is a generation closer to that and apparently he’s so bad with money he needs his son to give him money, so no, you can blow it. Cycling through $60,000 cars on no income every six months os a great way to do ot
This guy has his life made for him. Living rent free and $500k magically dropping to his bank account by the time he's 21. Yet I still wouldn't be surprised if he ends up broke by retirement age.
He just said he’s bad in school and will just piss away money going to school and have nothing to show for it but a shitty bachelors degree for a career he won’t do.
When he said, his mom wanting him to finance a house through her makes it seem like she is trying to teach him how to manage money. She would probably buy the house outright but still put him on a fixed monthly payment to pay it off so he learns how to deal with debt. Because it seems to me that him buying a car he doesn't need at a 12 percent interest rate shows me he doesn't know much about money
The fact that she is “hell bent” on him going to school shows she is stupid. Wanting your kid to go to school is one thing. Telling him you won’t release his trust to him unless he goes to school is pure fucking stupidity.
I knew a nepo baby. He got 200k on his 21st birthday. He blew it in 3 months. His next pay out from his trust fund was supposed to be 25, his parents refused to release till 30 & cut him off. He learned his lesson the hard way. He now owns his own business is way more responsible, but his parents are still slowly releasing his funds.
200k for a birthday??? WHAT?!? We don't have that amount of money saved on ALL accounts let alone enough to gift damn must be rough knowing your kid blew away that amount of money
That’s the root of his poor choices though. He’s emboldened to make whatever stupid decisions he wants because he knows family money will bail him out. Moral hazard
My brother was the same, he travelled the world and got into bad debts here there and everywhere. My mother would bail him out, now at 34 he’s becoming slightly less naive with his money
From what I see, he knows he’s backed with money. He makes these bad financial investments (car debt), because he has so much money in trusts, IRAs, etc. if he can stay the course, pay off the car and invest and live a little more at his current means since he works multiple jobs. A 400k trust to buy a house, he can easily find a great single family home for $350k. He could buy the home outright with no mortgage and not many can say this.
Caleb got catfished by this dude acting like he has crippling debt and yet has access to half a million dollars in less than a year. Kudos to him for wanting to come on but really is detached from reality when it comes to all aspects of his life.
Detached from reality? To me it sounds like he works his ass off. Yeah he gets money to fall back on, but it’s not like he’s sitting on a yacht laughing at everyone who works.
Watching Caleb react to every giant money surprise takes him from being mad about the car loan to being subtly angry about his giant secret safety nets
You miserable grown men/women hate a young man having a family that loves n supports um 😂😂 sorry your family doesn't care that much about you, maybe in another life 😢😢😂😂😂
@@MelissaJetzt oh no doubt, my beau guess is that he does the exact opposite of what Caleb suggests, and buys way too much house, takes on a high mortgage, refinances the car instead of paying it off, and before he knows it the cash is gone and he’s got a high car payment and an expensive mortgage at 25 years old. Dude has every opportunity in the world but his desire to appear a certain way to society will end all that unless this actually was a wake up call for him. But it seldom is. Young 20 somethings can find a way to justify just about any bad life decision. YOLO, like the kids used to say
Seems like he’s trying to buy products from the only biggest status symbol brands even if it means he has to finance on them via apps like affirm use a credit card to buy them instead of taking a cheaper route and buying a ASUS laptop, or a surface pro, or an old mac computer that won’t cost him too much and an old Mercedes, Maserati, or Bentley since he cares so much about looking rich.
I get upset when people around me try to offer financial advice when they were given a house, a car, had their school paid for, and handed monstrous amounts of cash. Life.
Envy is no way to go through life, son. Sometimes the best advice comes from those who have lived life a bit better than you. It should motivate you to improve yourself or marry up/rich.
@@melinoess sure it could be frustration. Frustration of making bad decisions and not holding themselves accountable in that they blame others for their misfortunes. So yeah,
He does. He literally was asking so many questions about what to do with all this “free money.” If he didn’t care he would just piss it away and not even bring it up to Caleb.
He definitely does know how good he has it. He has a hefty retirement account, he has very little debt, and 12% APR isn't outrageous like some of the other 24% or even 30% APR we've seen on the channel. He also went from irresponsible, gas guzzling sports cars, to a reliable, sensible electric SUV (Ford Mach E). He's 20, has a stable job, has career aspirations, and is genuinely asking for financial advice from other people, and not following it blindly. His only flaw is that he's rushing things a bit too much (already talking about joint accounts with his girlfriend). And although the SUV is sensible for most people, it would've been much better to get a $10,000 car, since he probably won't need an SUV for anything until he has kids.
You can give money to your kids, but to show them the ropes, and allow them to fall flat on their face and take the money away from them if they screw up. Of course, some kids are so stupid that they can't be helped.
This just isn’t true. If you teach your children about money and the proper ways to use it, they will be alright whether or not you give them money or you don’t.
I agree. I wouldn’t spoil my kid with money especially if I had an abundance of it. Getting wealthy require patience and hard work, two valuable characteristics that won’t be taught as well if the kid is constantly being given the easy way out.
@@Mac-plutoit is true. you can teach them all you want which is great but if they know they have the financial stability backup like this kid has or parents or whatever. if they ever fall, the fall wont be as impactful as those of us who dont have that security blanket. its called hitting rock bottom. and kids like this wont hit it and if they do theyll hit it with a comfy mattress at the bottom.
I've been trying to explain interest to my ten year old children. I let them watch this episode with me, then pulled up a loan calculator for that car at 12% interest for 72 months. Then I compared that $96k to our house and to our vehicle. This is highly educational content. I love it.
@@v-2010 its a different scenario completely from being a lottery winner. This person has wealth behind them from the sound of things. They will never fail and be destitute because family will be there to take care of everything. With poor people winning a lottery, you're still surrounded by poor people.
idk how no one is talking about the TEN YEAR disqualification from applying to the police department. there’s no way “lack of experience” gets you disqualified for ten years. they can just not accept you and have you keep applying but banning you from applying is crazy and there’s got to be more to that story.
My sister in law works in a car dealership. A 24 year old kid came in, trying to trade in a second hand Lamborghini (which he'd gotten on finance and he couldn't afford the repayments). The dealership politely said no and had to hold back their laughter as he left the store because no one is going to take that car off his hands. Only way for him to get out of the arrangement would be to declare bankruptcy (which would ruin his chance at buying a home for a long while).
No one really buys used lambos they depreciate a ton driving it off the lot already. There hard to resell . People buying lambos have the money to buy new
This episode makes me so angry. I'm doing everything I can to save 80k for the glimpse of maybe one day being able to afford a house. This guy already has 100k handed to him and he's throwing it away on an overpriced car.
I know so many people that got big money from inheritance and blew it on nothing. One friend got 120k in 2 installments and she blew it on everyone. One day they called me to go out to eat and when it was time to pay one person said she’s paying don’t worry about it, I said just because you guys are all taking advantage of her doesn’t mean I’m gonna. She even paid 20k to rent a house for everyone to live with her, bought these people cars. Then when the first 60k was gone she had to take the other 60k out and pay penalties because it was in a retirement fund. Less then a year it was all gone and it was from her parents passing away I felt so bad for her and all the “friends” didn’t pay her back for everything like they said they would. Her parents probably wanted her to use the money to buy a house.
@@rorycolgan Where I live there is none. I live in Coleman Tx. I ride a fancy Italian bicycle. But I go to California a lot to visit my daughter I use it a lot out there.
No, but To give him the Benefit of the doubt, he is 20 and gonna be pretty fckin dumb naturally, so hopefully he grows up. Who knows. With that kinda money and parents, he gonna be a enabled bum forever tho lmao
Caleb is WRONG. How could Caleb not challenge him the like half dozen times he said “I don’t spend a lot of money.” He’s 20 and he’s already bought 4 cars for like $150,000 and thrown away $15,000 on twitch bs. Mom shouldn’t let him access that money, he isn’t mature enough for it and he’s going to continue to blow it. That’s EXACTLY why it’s set up so she has a day over it until he’s older. She shouldn’t let him touch it until he shows maturity.
@@matthewui5034 no, gambling can’t be replicated. I bet some of the 11k lost was rent/food/etc. If he cleaned that up he would have been better off. I imagine making money on twitch is difficult and he made 4k with a small following. That’s impressive
Twich isn't sustainable, unless you hit it big. Flash in the pan, then subs dwindle. But he should have stuck with it if he was generating income. At least get your money back.
@@jdotglenn I guess if that's life and we could make fun of people who can't help they were born being short I could start making fun of autistic people or people with mental difficulties.
Im proud of you Caleb. Youre on the track to loosing weight and helping people trying to get on the right track. Wishing you best wishes and hope you do well in life.
Bro I’m out here working my ass off tryna be a pilot and tryna go through college and tryna work at the same time and this guys out here literally being handed out 500k and he gets into 65k debt with 12% and acts more like a child than me. I mean respect for putting himself out there i guess but it just rubs me so wrong how people so privileged put themselves in such bad situations
I'm waiting for Caleb who said he's trying to lose weight to have someone do a "Physical Audit" with a personal trainer to roast him for Panda Express and it's basically us watching him do pushups, pullups, other exercises, follow his eating habits, weight check, and make a plan. Please Upvote This Comment So Caleb sees this video idea
exactly.. he has just with interest on that 500k almost as much as he gets paid each paycheck... and that's going with shit levels of interest on the 500k..
That 100k will be gone in a year. I can't believe Caleb didn't tell him to sell the car, having something that expensive depreciate in value on his net worth is madness.
@@ay2deet578 it’s because it’s so absurd you can’t help but want to stop and comment I almost did the same shit. Then the 400k came up and I was like oh hell no lol
@@Hedgeflexlfz who deserves any inheritance? There is nothing wrong with getting it and using it to make a nice life. It sounds like he has 2 solid parents. He has pretty much worked more than full time since he was 18. That is more than most kids his age. He has a dream and is working towards it. Deserves it? Come on.
Agreed. They should have put it in a 529 for tax purposes and turned it into a IRA if he decided not to do college at whatever point. It would’ve grown over dumb spending.
How has he gone through 4 separate cars (at least 2 were high performance sports cars) before he's legally old enough to drink? His family dropped the ball when teaching him fiscal responsibility
Honestly I’m glad i came across your channel Caleb, it’s helped me manage my financial responsibilities and being able to keep track of my expenses. Much respect for all the guest who come onto here and show their mistakes so others can learn.
I hope to do even a fraction of what his parents did for my son. Shit drives me insane though how hard I have to work for everything and this kid gets it all handed to him
@aboutface102 I've seen a balance. Like a friends parents always acted poor and when he hit 18 charged him some rent. As soon as he graduated and stable job. All that rent went back to him...
@@aboutface102 BS, you say this because you’re poor and will always be poor. If you had the means to, you would like 99% of parents that don’t hate their kids.
This kid is exactly what my old man told me First generation makes the money (Grandpa) Second generation manages the money (Mom) Third generation spends it! (Our friend here)
The onus absolutely falls on the consumer in the end, but can we talk about how terrible it is that a car dealership/bank extended a monster car loan to a 20 year old with a monthly income of ≈3k?
This kid is one of those customers who won't take no for an answer. He wanted more range, he could've got a Tesla for cheaper. He could've gone for a Mach E that wasn't the top-of-the-line trim. If the dealer that sold him his car said no, he would've just gone to another one until someone said yes.
I don’t think any car dealership will approve you for a $60k car with a $45k income. He had to have brought up the trust money to have gotten approved.
Caleb being a real one for taking the time to explain why this partnership would work for certain individuals and not for others, it’s so ethical helping everyone make educated decisions
Buying a 64K car with only 3K in income a month and only 500K is savings is incredibly foolish. In 20 years this kid is going to be broke based on his complete and fundamental lack of logical reasoning skills and money management. He decided to buy a EV that he pays $600 a month in interest on because he was paying $300 a month in gas. This guy is a prime example of rages to riches and back again in 3 generations.
@@TheCreoleSon89 it’s okay bro we’re black. We start behind the start line due to systemic racism. My mom wasn’t even aloud to buy a home when she could afford it due to not being white.
@@2011blueman bro he is fuckin 20.. get off his dick… HE IS 20.. damn near a kid and is having fun.. Yk what’s funny? All these gurus all have stories how they was stupid and now rich.. why is it when he does it all of a sudden he can’t turn it around? Mfs wanna have fun bro, why do you care so much?
@@2011blueman well if he keeps it in savings yes... hopefully he can earn interest on that 500k or get a house and rent it out and what not... 500k with safe dividends alone pays 1500+ a month..
Congratulations on the success of your channel! I’ve been watching religiously since you started making videos. When do we get to see you get audited??
Even if he can afford a 60k vehicle, I personally wouldn’t have put that much money into a depreciating asset. Hopefully he doesn’t burn a hole in his pocket and thinks long-term. He’s blessed to be in that financial position
I’m a corporate attorney and my wife is a doctor. We have 4 cars - 2 fam cars, one for my teen and 1 for my mother in law. Total cost is less than 60k. This kid is a moron
What he should have done was get a 4 cyl mustang if he wants a mustang. Half the price of the mach e. And be better off if he wants to drive the shitload out of it
Just a piece of info for the guest! I’m a Peace Officer in Texas, I was hired at 20. Went through the academy, and graduated at 21. (24 currently) What help me get hired was my prior experience as an EMT. I’d also recommend having proper finances. Build some maturity too, and reapply!
I like this kid, he's young making young mistakes but he's clearly eager to learn and do better. His comment on getting his girlfriend a nicer Christmas gift as motivation melted my heart 🥺
@cris I believe that he THINKS he didn't have the money for the gift. He had a moment of clarity in between a lifetime of spending away his piles of inherited cash at an alarming rate where he realized he was draining cash like crazy and didn't want to go into further CC debt for this particular expense. The problem is that was one responsible choice that saved maybe $20 in the middle of probably $150,000 in irresponsible choices around cars and video games.
@Notgiving Myemail maybe a failed drug test. A drug conviction would disqualify him for life. I looked up this kinda stuff and there are many reasons. Stuff like certain tattoos (gang ones), prescription drug use, driving violations, etc. It could be something as stupid as a ticket for excise speeding.
Most episodes I have seen so far have been dig-outta-debt focused; I liked the encouragement of investing. It is nice to see parents helping their adult child (lol) hit the world without them having to start at ground zero. I was helped with college but it wasn't my path. When I bought a house with my wife, my parenta mocked the purchase / price. Always step back and get more wisdom from more sources. It will help.
IF he is speaking truthfully and actually has 500,000 to his name, I truly hope he spends his money wisely and doesn’t regret his decisions 20 years down the road.
$1245 over 72 months is pretty insane. What I find comical is how he didn't like his previous electric (?) vehicle because it didn't have the range. Could have just bought a Toyota Corolla. Plenty of 'range'.
The 100k doesn’t matter if he spends money like this, he’ll go through it ridiculously quick. Edit: It’s clear he has no concept regarding the value of money, and how much labor he just threw away with his car financing and purchasing.
Watching these videos have literally provided me enough pressure to get my shit together over the last six months and I now have a 736 credit score with $0 debt and cut my spending to fix collections for deletion 😭 I now watch these in such a different light 😫
This show motivated me to start budgeting! I've canceled a bunch of subscriptions and cut eating out to once a week. It feels good to finally feel like I have some control over my money and cutting the eating out is helping me lose weight too.
Warren buffet was driving a 10 year cadillac and was worth 1 billion dollars ! He still stayed in hes 400k home.when asked why he didnt just buy a new cadillac He said "why would i buy a depreciating asset "
Imagine getting 100k as a check for doing nothing. Even better, imagine spending 64% of that check to payoff a stupid car that no 20 yr old should ever have. Smh, what are people doing. 1.2k a month in just payments on a depreciating asset lol.
Before purchasing a car, house, etc, it should be a no brainer to make sure you can afford it in the long run! What many don't realize is that the expenses of owning a car don't stop once the initial amount of money is paid. There's car payments, insurance, periodic servicing, gasoline and registration. All these weekly or monthly expenses can easily bankrupt if not accounted and planned for!
This dude has been handed everything on a silver platter and has been doing so many things to piss it away. I hope he realizes how amazing his life can be if he stops being a dip stick and makes some changes
This kid is so fortunate to have a family that set him up with trusts and accounts. I'm really happy that at 20 he's on this show trying to learn how to best manage that money. He's got a great leg up and he sounds like he's going to be smart with it and have smooth sailing ahead.
@@carlosfischer8101 15 years older if you ever need advice. hoping you do really well. don't be scared to marry your gf if she's good to you and makes you better. having some kids would show you what you are on earth for.
Caleb, can I come on your show? I have $18k in debt and in 6..months I'll inherit half a million dollars. I need help!! Why is life so hard??? I mean this kid just needs and actual financial advisor. Damn... imagine getting 100k when you turn 21 and then 400k whenever you are ready to buy a house. God damn. Must be fucking nice.
Even if he is coming into this money, it's still a braindead decision to take out this car debt. Had he just gotten a much cheaper car, he could have saved/invested the money he is inheriting... THAT is how people build and maintain wealth.
I honestly don't blame this kid for getting into stupid debts because he doesn't have the concept of money since he knows he's getting 80k cash and has another 18k in his roth. He has a great foundation as long as he listens to Caleb's advice. We've seen much worse people on this show. Hell, if I was 20 and I knew I was getting 80k cash, I would probably spend it on something stupid too. Hopefully he gains a lot of valuable lessons. I know I would've.
That $400,000 that’s coming to him has made him arrogant. “You kinda cut me off”. He had an answer for every suggestion. I don’t know why he came on the show except the flex on his inheritance which I don’t see him investing correctly or keeping. There’s a reason why he was banned from applying to the police academy for 10 years. He’s immature and thinks he knows everything.
This channel is Amazing. It really put the pressure on me to clear up my debt. Im now debt free after 9 years, cleaned up a massive 70K credit card balance, bought my first home with a good Interest and mortgage, can send my kids to private school, purchased homes for my parents and children, opened a chain of fast-casual Somalian restaurants and tomorrow im having a meeting with the tesla dealer to discuss a new car. Im 13 by the way.
things that could disqualify someone from becoming a part of law enforcement include things like: bad credit history, felonies, misdemeanors, dishonorable discharge, incorrect or false information on the application, past or current gang affiliations, past or current drug use etc.
I love watching these episodes! Wish I had someone to approach me with these situations years ago. Since watching these I’ve tackled my credit card debt and is almost completely gone, have been making smarter choices on eating and encouraging myself to actually meal prep 😅 and almost have enough aside for an emergency fund. It’s really helped me to look at the important financial aspects of life.
@@lindawang5649 There are professional athletes who blow through millions in a couple years, unless he changes his attitude toward spending and money that 500k won't last long at all.
64k in car debt at the age of 20 years old. How do places even allow people to get financed like this?? Can’t wait to watch this to figure out the salary this guy makes.
@@chrisrunsthis it has everything to do with easy government money. If there wasn’t easy free money they would not have enough to loan to irresponsible people.
@@aaronkelly3035 You remember the ancient times of 2008? No easy money and high inflation there and they still had more than enough money to lend to people to buy houses they can't afford.
@@aaronkelly3035 what money is he getting from the government for his car? You’re just making things up because your politics are blinding you 😂😂 Getting a stupid car loan has nothing to do with the government it’s about dealerships making profit off of dumb people
I bought a new car after 10 years last year, but the interest rate is 2.6% and after 15k down its not too bad. One day of overtime covers my interest cost for a year. Plus it’s electric so the amount of money I’ll save on gas an maintenance over the next six years will make it the same as if I had bought a Camry during the market at that time. No sales tax either. Sometimes the math does work out, just takes a little thought, and very good credit.
@@carlosfischer8101 you are starting life out broke because of poor financial choices. You need a serious wake up call kid. You are spending money you don't have and didn't earn and still living at home. Just wait until you move out and attempt to keep working security. You bought a mach e just to spend more money than what the gt cost you. I kinda feel bad for you because you don't understand how to handle money because it was just handed to you. Good luck
He's constantly handed money and just shits it away. His numbers are definitely skewed as well. No way he had 500 subs on twitch and couldn't break the 25 viewer barrier. He has 0 idea of how to handle his finances because he will be bailed out of every terrible decision.
I LOVE it when Caleb mentions how he's single in his videos. It's so cute and makes me giggle. I'm 28 and if I wasn't in the midwest and already in a relationship, he'd be my ideal guy.
I wish I'd been able to learn from Caleb when I was young. I finally got out of debt and for the last 15 years I pay off any credit card purchases weekly. However, I'm learning from Caleb the importance of building savings and cutting out the non-essential spending. We all need to face hard financial truths at any age.
Yeah but you could get hit by a bus tomorrow and all that saving was for nothing, well not totally nothing, the government will take it, I just can't see the point in hardcore saving and living with "non-essential" purchases.
One pet peeve: Why are 3br/2bath homes considered "starter homes"? I feel this is a big part of the problem with the real estate market in decent suburbs. Developments are either crappy overpriced glued together gimmicky "luxury" townhomes or full on mcmansions. A 3br/2bath ranch with a yard should be considered a normal middle class home to raise a family and more of them would be built if people didn't consider them "starter homes".
Caleb shouldn't be talking about someone's size. He looks like a young Ed Kemper. Has he looked at a mirror also? Or does he need to get a bigger mirror for each of his fat folds? Smh
🤣🤣
Would look better as security still haha
Clearly jokes man,relax
Not Caleb pinning this comment 🤣🤣🤣
@@CalebHammer
Most family wealth is gone by the 3rd generation. I think we've witnessed part of that process in real time here.
lmfao yup, pretty sure bet that $100K is going to be spent rather quickly
He 💯 % is going to blow that 100k the same month he gets it.
...he discussed his half a million of HUNDREDS OF MILLIONS...
...hard to spend that faster than returns even if you're trying...
@@soapa4279 he already spent 2/3 of it on a mustang
@@dericanslum1696 his Dad is a generation closer to that and apparently he’s so bad with money he needs his son to give him money, so no, you can blow it. Cycling through $60,000 cars on no income every six months os a great way to do ot
This guy has his life made for him. Living rent free and $500k magically dropping to his bank account by the time he's 21. Yet I still wouldn't be surprised if he ends up broke by retirement age.
And actually happy to see it
@@13mschenyou are sick
@@Ghosty716 I like to see people succeed because they deserve it, and fail when they deserve it. He does.
Well less than 100K which is still a bonus
Parents make the wealth and the children squander it
The dude used to pay $300-$500 in gas so he decided to buy an electric car and pay $600 per month in INTEREST ALONE. Logic took a huge dive.
And thinks the car has zero maintenance, as if electricity is free, as are tires and batteries do not magically degrade.
Lol I was thinking the same…like…it’s actually more moneyy 😂 💀
@@choreomaniac that was one of the only fair thjngs he said, EVs have massively less O&M cost
@@adamseidel9780 Only if you exclude the cost of battery replacement.
I freggin love it when people buy a Tesla to “save money” on gas but then have a $500 car payment on the Tesla 😂
Why is he calling his mom stupid? She clearly knows her son better and if she thinks he's too immature to be a homeowner right now, I believe her.
She is stupid for not teaching him right.
He just said he’s bad in school and will just piss away money going to school and have nothing to show for it but a shitty bachelors degree for a career he won’t do.
When he said, his mom wanting him to finance a house through her makes it seem like she is trying to teach him how to manage money. She would probably buy the house outright but still put him on a fixed monthly payment to pay it off so he learns how to deal with debt. Because it seems to me that him buying a car he doesn't need at a 12 percent interest rate shows me he doesn't know much about money
The fact that she is “hell bent” on him going to school shows she is stupid. Wanting your kid to go to school is one thing. Telling him you won’t release his trust to him unless he goes to school is pure fucking stupidity.
I knew a nepo baby. He got 200k on his 21st birthday. He blew it in 3 months. His next pay out from his trust fund was supposed to be 25, his parents refused to release till 30 & cut him off. He learned his lesson the hard way. He now owns his own business is way more responsible, but his parents are still slowly releasing his funds.
200k for a birthday??? WHAT?!? We don't have that amount of money saved on ALL accounts let alone enough to gift damn must be rough knowing your kid blew away that amount of money
@@shroomer3867 It wasn't a birthday gift. Trust funds typically aren't given access until 21.
His family has set him up so well for financial stability with a trust, managing his taxes, managing his IRA, and yet….
That’s the root of his poor choices though. He’s emboldened to make whatever stupid decisions he wants because he knows family money will bail him out. Moral hazard
Unfortunately, parents like them that dont teach their kids finances are the reason 80% of families with high wealth are broke by the third generation
My brother was the same, he travelled the world and got into bad debts here there and everywhere. My mother would bail him out, now at 34 he’s becoming slightly less naive with his money
From what I see, he knows he’s backed with money. He makes these bad financial investments (car debt), because he has so much money in trusts, IRAs, etc. if he can stay the course, pay off the car and invest and live a little more at his current means since he works multiple jobs.
A 400k trust to buy a house, he can easily find a great single family home for $350k. He could buy the home outright with no mortgage and not many can say this.
His priority was to impress little kids around him
Caleb got catfished by this dude acting like he has crippling debt and yet has access to half a million dollars in less than a year. Kudos to him for wanting to come on but really is detached from reality when it comes to all aspects of his life.
Yeah is he gearing up for another go at Twitch soon lol
But if he hadn’t had this consultation he probably woulda fumbled all of that
It really does seem like that
Or he’s a pathological liar. He didn’t show any proof of the additional money.
Detached from reality? To me it sounds like he works his ass off. Yeah he gets money to fall back on, but it’s not like he’s sitting on a yacht laughing at everyone who works.
I’d be pretty financially stable if my mom gave me half a million.
same
Same 😂😂 My parents could only give me 3k and while I’m grateful there’s not much you can do with that 😢
@@potato1084crazy my parents gave me 0$😂 3k is a lot. I’m 21 and just bought my first house. Anyone can do it. That 3k puts you ahead.
He'll waste it. He paid $70k for a vehicle to do door dash. One bad marriage and she's gone with most of it.
@@lot2196 he can hear u talkn shit anywhere 😂😂
Watching Caleb react to every giant money surprise takes him from being mad about the car loan to being subtly angry about his giant secret safety nets
Always wondered how anyone can justify doing delivery services in 60-80k cars, all makes sense now😂
I do but mostly to drive my car 🤣
I’ve seen people do Uber eats with drift cars. It’s pretty funny honestly.
Gotta love the indefatigable confidence of knowing you can just fall back on family money and that none of your bad choices actually matter
Yea, don’t understand the comments saying he’ll kill it. He has to try very hard to fuck it up, and he’s on his way on doing it already.
You miserable grown men/women hate a young man having a family that loves n supports um 😂😂 sorry your family doesn't care that much about you, maybe in another life 😢😢😂😂😂
Except that it’ll run out quick at the rate this guy is going…
@@MelissaJetzt oh no doubt, my beau guess is that he does the exact opposite of what Caleb suggests, and buys way too much house, takes on a high mortgage, refinances the car instead of paying it off, and before he knows it the cash is gone and he’s got a high car payment and an expensive mortgage at 25 years old. Dude has every opportunity in the world but his desire to appear a certain way to society will end all that unless this actually was a wake up call for him. But it seldom is. Young 20 somethings can find a way to justify just about any bad life decision. YOLO, like the kids used to say
Seems like he’s trying to buy products from the only biggest status symbol brands even if it means he has to finance on them via apps like affirm use a credit card to buy them instead of taking a cheaper route and buying a ASUS laptop, or a surface pro, or an old mac computer that won’t cost him too much and an old Mercedes, Maserati, or Bentley since he cares so much about looking rich.
This guy really came in with average income for the show, the WORST care debt but also the highest net worth. What did we just watch???
😅 spot on
The power of rich daddy at work
I think we just watched the truth about capitalism
@@natecus4926bro what lmao
Austin… in a nutshell
I get upset when people around me try to offer financial advice when they were given a house, a car, had their school paid for, and handed monstrous amounts of cash. Life.
Indeed
Envy is no way to go through life, son. Sometimes the best advice comes from those who have lived life a bit better than you. It should motivate you to improve yourself or marry up/rich.
They're not doing it to brag or say it's easy. They're giving advice.
Damn straight
@@melinoess sure it could be frustration. Frustration of making bad decisions and not holding themselves accountable in that they blame others for their misfortunes. So yeah,
It is frustrating that this kid doesn’t realize how good he has it. He has so much free money given to him.
He does. He literally was asking so many questions about what to do with all this “free money.” If he didn’t care he would just piss it away and not even bring it up to Caleb.
It's hard to at that age especially. He will probably have to mess up first
He definitely does know how good he has it. He has a hefty retirement account, he has very little debt, and 12% APR isn't outrageous like some of the other 24% or even 30% APR we've seen on the channel. He also went from irresponsible, gas guzzling sports cars, to a reliable, sensible electric SUV (Ford Mach E). He's 20, has a stable job, has career aspirations, and is genuinely asking for financial advice from other people, and not following it blindly. His only flaw is that he's rushing things a bit too much (already talking about joint accounts with his girlfriend). And although the SUV is sensible for most people, it would've been much better to get a $10,000 car, since he probably won't need an SUV for anything until he has kids.
This kid is proving why you shouldn’t give money to your kids. They need to know the struggle which this kid will never actually know
You can give money to your kids, but to show them the ropes, and allow them to fall flat on their face and take the money away from them if they screw up. Of course, some kids are so stupid that they can't be helped.
This just isn’t true.
If you teach your children about money and the proper ways to use it, they will be alright whether or not you give them money or you don’t.
Hell blow it in a year
I agree. I wouldn’t spoil my kid with money especially if I had an abundance of it. Getting wealthy require patience and hard work, two valuable characteristics that won’t be taught as well if the kid is constantly being given the easy way out.
@@Mac-plutoit is true. you can teach them all you want which is great but if they know they have the financial stability backup like this kid has or parents or whatever. if they ever fall, the fall wont be as impactful as those of us who dont have that security blanket. its called hitting rock bottom. and kids like this wont hit it and if they do theyll hit it with a comfy mattress at the bottom.
Carlos: “Out of all the jobs I’ve had it’s my favorite job.”
Also Carlos: *is 20 and has had the job since he was 18*
lol
Some people work before turning 18
I got my first job when I was 11.
@@InternetUser._ Yeah, but that’s illegal.
@@vincent8900 I did, too. You can’t have that many jobs before then without breaking child labor laws.
If he carries that car loan to the end, he'll have paid over $26,000 of interest.. which is 40% of the initial loan! INSANE
I've been trying to explain interest to my ten year old children. I let them watch this episode with me, then pulled up a loan calculator for that car at 12% interest for 72 months. Then I compared that $96k to our house and to our vehicle.
This is highly educational content. I love it.
89k for what’s basically a 40k car lol.
It's ok, his mommy's gonna pay for everything
He could have got a decent V6 Mustang with reasonable power and mileage, but he's trying to flex.
life's easy when you have $100,000 trust fund waiting for you in 3 months and another $400,000 fund waiting for a house.
@@v-2010 life is still easy, but because of stupidity it gets hard again when they lose it all
I don't think this will end well. He's driving a $64,000 car to deliver door dash. Not smart.
@@v-2010 so what you're saying is it's *easy* to lose a lot of money
@@v-2010 Just because people have zero self control doesn't mean it's not easy. Half million for doing nothing is easy mode, period.
@@v-2010 its a different scenario completely from being a lottery winner. This person has wealth behind them from the sound of things. They will never fail and be destitute because family will be there to take care of everything. With poor people winning a lottery, you're still surrounded by poor people.
idk how no one is talking about the TEN YEAR disqualification from applying to the police department. there’s no way “lack of experience” gets you disqualified for ten years. they can just not accept you and have you keep applying but banning you from applying is crazy and there’s got to be more to that story.
Also I don’t know how it’s done in Texas, but I know the states near me you apply to the force and they send you to an academy.
My sister in law works in a car dealership. A 24 year old kid came in, trying to trade in a second hand Lamborghini (which he'd gotten on finance and he couldn't afford the repayments). The dealership politely said no and had to hold back their laughter as he left the store because no one is going to take that car off his hands. Only way for him to get out of the arrangement would be to declare bankruptcy (which would ruin his chance at buying a home for a long while).
You mean they they take the card because they would not essentially find a buyer?
No one really buys used lambos they depreciate a ton driving it off the lot already. There hard to resell . People buying lambos have the money to buy new
@@kustomchevy27Apparently there is at least 1 person out there willing to sign a deal with the Devil😉😉
This episode makes me so angry. I'm doing everything I can to save 80k for the glimpse of maybe one day being able to afford a house. This guy already has 100k handed to him and he's throwing it away on an overpriced car.
Go to trade school takes 2 years you can start at like 65K-110K depending on what you do after a good few years you will be making 185K+
I know so many people that got big money from inheritance and blew it on nothing. One friend got 120k in 2 installments and she blew it on everyone. One day they called me to go out to eat and when it was time to pay one person said she’s paying don’t worry about it, I said just because you guys are all taking advantage of her doesn’t mean I’m gonna. She even paid 20k to rent a house for everyone to live with her, bought these people cars. Then when the first 60k was gone she had to take the other 60k out and pay penalties because it was in a retirement fund. Less then a year it was all gone and it was from her parents passing away I felt so bad for her and all the “friends” didn’t pay her back for everything like they said they would. Her parents probably wanted her to use the money to buy a house.
@@Junk8if you’re lucky
@@Junk8 Dawg I know a lot of people who went into trades and it took them 20 years to break 100K, some still aren't even there.
@@peanutbutterisfu That is so sickening but also so incredibly common.
I don't even look forward to the weekends anymore I just look forward to when Caleb posts during the week.
Same! I stopped going out and tbh I don’t care if I’m missing out on “ fun “ my bank account is looking good 👍
Get a life
tuesdays and thursday’s be tough. no new video
Invite him back with his mom. I want to see how that goes. I doubt she'd come on but I think that would be such a good episode
she definitely wouldn't
If you're a security guard and owe the bank $64K, the bank's got a problem.
How did he even get approved for that loan? Unless he has a separate bank account the underwriters saw
@@LEP021085credit score linked to his mother (probably)
Me 62.
No car
No car payments
No car drama
Money in the bank
My home is paid off
No debt at all.
Life is good
Public transportation?
@@rorycolgan
Where I live there is none.
I live in Coleman Tx.
I ride a fancy Italian bicycle.
But I go to California a lot to visit my daughter
I use it a lot out there.
@@PInk77W1 Same here. Bicycles are great.
@@kaspervestergaard2383 nice
This kid has had everything handed to him. He has 2 cars, 2 computers, mom does his taxes, gives him 100k…like could you be any more spoiled???
No, but To give him the Benefit of the doubt, he is 20 and gonna be pretty fckin dumb naturally, so hopefully he grows up. Who knows. With that kinda money and parents, he gonna be a enabled bum forever tho lmao
He's gonna eat through that money before his 25th birthday. Easily.
He also gets another 400k. He literally gets half a million.
400k more spoiled lol...
Caleb is WRONG. How could Caleb not challenge him the like half dozen times he said “I don’t spend a lot of money.” He’s 20 and he’s already bought 4 cars for like $150,000 and thrown away $15,000 on twitch bs.
Mom shouldn’t let him access that money, he isn’t mature enough for it and he’s going to continue to blow it. That’s EXACTLY why it’s set up so she has a day over it until he’s older. She shouldn’t let him touch it until he shows maturity.
He made $4k from twitch. That shows proof of concept.
But he threw it away for his stupid car. He should have bought a used Corolla .
@@NickOloteo he didn’t “make” $4k from twitch, he lost $11k
@@NickOloteo so if i make $5k from gambling after betting $50k total am I showing proof of concept? 😂
@@matthewui5034 no, gambling can’t be replicated. I bet some of the 11k lost was rent/food/etc.
If he cleaned that up he would have been better off. I imagine making money on twitch is difficult and he made 4k with a small following. That’s impressive
Twich isn't sustainable, unless you hit it big. Flash in the pan, then subs dwindle. But he should have stuck with it if he was generating income. At least get your money back.
As a former tiny adorable security guard, I felt those body measurements 😂😭
“Adorable tiny” bruh that’s ghey
That ain’t “ghey” “bruh”, that’s just life.
Same man lol
Real question, tho who would he stop ? I guess security means just tell people to stop and if they don't then call the police ?
@@jdotglenn I guess if that's life and we could make fun of people who can't help they were born being short I could start making fun of autistic people or people with mental difficulties.
Im proud of you Caleb. Youre on the track to loosing weight and helping people trying to get on the right track. Wishing you best wishes and hope you do well in life.
Bro I’m out here working my ass off tryna be a pilot and tryna go through college and tryna work at the same time and this guys out here literally being handed out 500k and he gets into 65k debt with 12% and acts more like a child than me. I mean respect for putting himself out there i guess but it just rubs me so wrong how people so privileged put themselves in such bad situations
I'm waiting for Caleb who said he's trying to lose weight to have someone do a "Physical Audit" with a personal trainer to roast him for Panda Express and it's basically us watching him do pushups, pullups, other exercises, follow his eating habits, weight check, and make a plan. Please Upvote This Comment So Caleb sees this video idea
He’s already choosing his t-shirt sizes based on what he thinks he’ll look like after he loses the weight, lol 😂
For real!! How dare he roast that kid 😅
Would to see a series about that
Instead of saying he’ll die on the Walmart floor at 80, they’ll say Caleb will die on the Panda Express floor at 55 from a heart attack
@@TestMeatDollSteak look we all love a dad bod
Must be nice to have $500,000 coming to you. His family really put in the work to set him up nicely.
exactly.. he has just with interest on that 500k almost as much as he gets paid each paycheck... and that's going with shit levels of interest on the 500k..
I heard it was 100k not 500
@@EpticityOG$100k in cash, but he also said about 400k for a house and schooling
To piss it all away cuz they dont teach him no sense
Unless you got 500k student dept.
That 100k will be gone in a year. I can't believe Caleb didn't tell him to sell the car, having something that expensive depreciate in value on his net worth is madness.
u mean 500k??
@@AFatOcelot classic case of commenting before fully watching. It's funny how he doesn't mention that at the start.
@@ay2deet578 it’s because it’s so absurd you can’t help but want to stop and comment I almost did the same shit. Then the 400k came up and I was like oh hell no lol
Good he doesn't deserve it anyways
@@Hedgeflexlfz who deserves any inheritance? There is nothing wrong with getting it and using it to make a nice life. It sounds like he has 2 solid parents. He has pretty much worked more than full time since he was 18. That is more than most kids his age. He has a dream and is working towards it. Deserves it? Come on.
Give it two years and this guy is going to be back in the same position
This kid is going to be like those people that file for bankruptcy after winning the powerball lottery.
man can you imagine starting with 100k at 20? wow, hard to feel bad for ppl like this.
Agreed. They should have put it in a 529 for tax purposes and turned it into a IRA if he decided not to do college at whatever point. It would’ve grown over dumb spending.
500k if you consider the money in his trust too😹
He is dumb too
Why do you need to feel bad for him. He seems like a great kid but young. Good for him.
How has he gone through 4 separate cars (at least 2 were high performance sports cars) before he's legally old enough to drink? His family dropped the ball when teaching him fiscal responsibility
he doesnt need financial responsibility when hes got grandpas titty money raining on him
That’s the life in Texas, people will live in a box to have the newest sports car.
Honestly I’m glad i came across your channel Caleb, it’s helped me manage my financial responsibilities and being able to keep track of my expenses. Much respect for all the guest who come onto here and show their mistakes so others can learn.
I hope to do even a fraction of what his parents did for my son. Shit drives me insane though how hard I have to work for everything and this kid gets it all handed to him
I would never do this for my kid, way more likely to ruin them in the long run
@aboutface102 I've seen a balance. Like a friends parents always acted poor and when he hit 18 charged him some rent. As soon as he graduated and stable job. All that rent went back to him...
@@aboutface102 BS, you say this because you’re poor and will always be poor. If you had the means to, you would like 99% of parents that don’t hate their kids.
@@meh4062that’s an amazing idea.
@@Mac-plutonot everyone would spoil their kids rotten.
This kid is exactly what my old man told me
First generation makes the money (Grandpa)
Second generation manages the money (Mom)
Third generation spends it! (Our friend here)
The onus absolutely falls on the consumer in the end, but can we talk about how terrible it is that a car dealership/bank extended a monster car loan to a 20 year old with a monthly income of ≈3k?
True
This kid is one of those customers who won't take no for an answer. He wanted more range, he could've got a Tesla for cheaper. He could've gone for a Mach E that wasn't the top-of-the-line trim. If the dealer that sold him his car said no, he would've just gone to another one until someone said yes.
@@Erigion so very true.
I don’t think any car dealership will approve you for a $60k car with a $45k income. He had to have brought up the trust money to have gotten approved.
He definitely had mommy co-sign.
Caleb being a real one for taking the time to explain why this partnership would work for certain individuals and not for others, it’s so ethical helping everyone make educated decisions
His history with cars makes a lot more sense after hearing he has like 500k just waiting for him.
@@TheCreoleSon89 thats why meritocracy is BS. congrats on your personal achievement.
Buying a 64K car with only 3K in income a month and only 500K is savings is incredibly foolish. In 20 years this kid is going to be broke based on his complete and fundamental lack of logical reasoning skills and money management. He decided to buy a EV that he pays $600 a month in interest on because he was paying $300 a month in gas. This guy is a prime example of rages to riches and back again in 3 generations.
@@TheCreoleSon89 it’s okay bro we’re black. We start behind the start line due to systemic racism. My mom wasn’t even aloud to buy a home when she could afford it due to not being white.
@@2011blueman bro he is fuckin 20.. get off his dick… HE IS 20.. damn near a kid and is having fun.. Yk what’s funny? All these gurus all have stories how they was stupid and now rich.. why is it when he does it all of a sudden he can’t turn it around? Mfs wanna have fun bro, why do you care so much?
@@2011blueman well if he keeps it in savings yes... hopefully he can earn interest on that 500k or get a house and rent it out and what not... 500k with safe dividends alone pays 1500+ a month..
Oh me. This kid is going to blow through his 100,000 inheritance in record time. Probably on another car instead of thinking about retirement
Congratulations on the success of your channel! I’ve been watching religiously since you started making videos.
When do we get to see you get audited??
Caleb should literally get a hammer and cheap tables to hit with it whenever he hears high interest car loans
I had a mental image of stacks of fake cash that he throws into a fireplace.
These ideas are great! 👏
Nah. UA-cam would have to ban his channel for displaying excessive acts of violence.
Even if he can afford a 60k vehicle, I personally wouldn’t have put that much money into a depreciating asset. Hopefully he doesn’t burn a hole in his pocket and thinks long-term. He’s blessed to be in that financial position
I’m a corporate attorney and my wife is a doctor. We have 4 cars - 2 fam cars, one for my teen and 1 for my mother in law. Total cost is less than 60k. This kid is a moron
What he should have done was get a 4 cyl mustang if he wants a mustang. Half the price of the mach e. And be better off if he wants to drive the shitload out of it
Just a piece of info for the guest!
I’m a Peace Officer in Texas, I was hired at 20. Went through the academy, and graduated at 21. (24 currently)
What help me get hired was my prior experience as an EMT. I’d also recommend having proper finances. Build some maturity too, and reapply!
You were an EMT before 20? Lmaooo
@@danielacaster110 yes, 18!
@@danielacaster110 becoming an emt isnt crazy hard. just stick to ur studies and pass ur classes for 2 years, pass a few tests. then boom ur an emt
Imagine going from helping people as an EMT to fucking them
@@danielacaster110my son because an EMT when he started volunteering at the fire department. 18 years old 😊
Thank you for your videos I actually took a huge look at my life and am on track to be debt free (paying off a motorcycle) at the end of the year.
So when do we get an episode to audit the FED and secretary treasure of the U.S.? What a sight that would be
I like this kid, he's young making young mistakes but he's clearly eager to learn and do better. His comment on getting his girlfriend a nicer Christmas gift as motivation melted my heart 🥺
He’s still acting like a teenager but with no school and $3,000 a month. Fast food, cars, and video games with no actual expenses…
@@adamseidel9780because he literally barley got out of his teens.
@@andresorozco1618 yes, agreed, that’s my point.
That’s a stupid financial decision for a young man.
@cris I believe that he THINKS he didn't have the money for the gift. He had a moment of clarity in between a lifetime of spending away his piles of inherited cash at an alarming rate where he realized he was draining cash like crazy and didn't want to go into further CC debt for this particular expense. The problem is that was one responsible choice that saved maybe $20 in the middle of probably $150,000 in irresponsible choices around cars and video games.
10 year disqualification seems crazy. It makes me think they found something during his background investigation, or he failed the drug test.
Probably failed the drug test and the psychological. They wont hire a cop with 60 IQ
Probably a drug theft charge not into being in account his lack of maturity
Definitely something drug related
@Notgiving Myemail maybe a failed drug test. A drug conviction would disqualify him for life. I looked up this kinda stuff and there are many reasons. Stuff like certain tattoos (gang ones), prescription drug use, driving violations, etc. It could be something as stupid as a ticket for excise speeding.
Yeah probably a drug test fail. It's for the best anyway, this guy is still a child.
The smart financial decision this episode is to wait for your grandpa to give you 100k cash lmao
Most episodes I have seen so far have been dig-outta-debt focused; I liked the encouragement of investing. It is nice to see parents helping their adult child (lol) hit the world without them having to start at ground zero. I was helped with college but it wasn't my path. When I bought a house with my wife, my parenta mocked the purchase / price. Always step back and get more wisdom from more sources. It will help.
IF he is speaking truthfully and actually has 500,000 to his name, I truly hope he spends his money wisely and doesn’t regret his decisions 20 years down the road.
We need a smash room for Caleb, in another part of the studio he can go to when the debts get stupid.
I was thinking of another smach room. "I hate my mind"
$1245 over 72 months is pretty insane. What I find comical is how he didn't like his previous electric (?) vehicle because it didn't have the range. Could have just bought a Toyota Corolla. Plenty of 'range'.
How does a car dealership write that loan for a security guard? Seriously?
The 100k doesn’t matter if he spends money like this, he’ll go through it ridiculously quick.
Edit: It’s clear he has no concept regarding the value of money, and how much labor he just threw away with his car financing and purchasing.
It’s insane that he is financing a car rather than waiting a few months to turn 21.
u mean 500k?
I'm with mom. She knows her son best and obviously wants whats best for him if she saved up for him all these years.
Lol dude your about to blow up. I just found this link talking about this video. Your about to get way more subscribers
Watching these videos have literally provided me enough pressure to get my shit together over the last six months and I now have a 736 credit score with $0 debt and cut my spending to fix collections for deletion 😭 I now watch these in such a different light 😫
Lmao “your a security guard? Who you gonna stop” not even a minute in 😂
totally wanted Caleb to out him for being short...
Caleb is fat 😂😂😂
This show motivated me to start budgeting! I've canceled a bunch of subscriptions and cut eating out to once a week. It feels good to finally feel like I have some control over my money and cutting the eating out is helping me lose weight too.
God damn that was the most savage shit I've seen Caleb saying "you're a security gaurd? Who are you gunna stop?"
I love how easy going and personable Caleb is. The light hearted banter puts guests at ease and helps open the show
I lost it when Caleb insinuated he was small for security 😂😂😂😂😂😂
the "Im a credit card person" mocking from Caleb got me on this one haha
THANK YOU! 😅😅😅 I was running to see if someone mentioned it. The way I screamed.
I spit my coffee out when he reminded caleb that he was single.😂😂. Don't worry Caleb the right one will come around
Warren buffet was driving a 10 year cadillac and was worth 1 billion dollars ! He still stayed in hes 400k home.when asked why he didnt just buy a new cadillac He said "why would i buy a depreciating asset "
He’s in a great position in life. Hopefully he listens to the advice you gave him.
Imagine getting 100k as a check for doing nothing. Even better, imagine spending 64% of that check to payoff a stupid car that no 20 yr old should ever have. Smh, what are people doing. 1.2k a month in just payments on a depreciating asset lol.
10 years is a wild disqualification. I applied years ago and they gave me a 1 year and asked me to reapply again.
Must of been not passed a drug screening or something.
the kid was clearly so insufferable they were like never come back bro lmfao
@@slickfox33 Yeah, I ain't calling him a liar, but I'm fairly confident he isn't telling the full story here.
Depending where or what he applied for. Some agencies disqualify you for doing mushrooms within the last 10 years.
The decisions this kid makes now will have huge results when he hits 30 and beyond. I hope he learns from his mistakes
It blows my mind how many people live with there parents and don’t pay for anything but have so much debt and act like they are so great.
Before purchasing a car, house, etc, it should be a no brainer to make sure you can afford it in the long run! What many don't realize is that the expenses of owning a car don't stop once the initial amount of money is paid. There's car payments, insurance, periodic servicing, gasoline and registration. All these weekly or monthly expenses can easily bankrupt if not accounted and planned for!
This dude has been handed everything on a silver platter and has been doing so many things to piss it away. I hope he realizes how amazing his life can be if he stops being a dip stick and makes some changes
He doesn’t know what a dipstick is he drives an EV!
This kid is so fortunate to have a family that set him up with trusts and accounts. I'm really happy that at 20 he's on this show trying to learn how to best manage that money. He's got a great leg up and he sounds like he's going to be smart with it and have smooth sailing ahead.
It's great, but that car is gonna kill him financially
Poor grandpa worked his butt off to watch his grandson buy an electric car 😭
he started the company at 65.
@@carlosfischer8101 15 years older if you ever need advice. hoping you do really well. don't be scared to marry your gf if she's good to you and makes you better. having some kids would show you what you are on earth for.
what’s the car being electric have to do with anything? 😂
@@word42069 just because electric cars are usually expensive
Caleb, can I come on your show? I have $18k in debt and in 6..months I'll inherit half a million dollars. I need help!! Why is life so hard???
I mean this kid just needs and actual financial advisor. Damn... imagine getting 100k when you turn 21 and then 400k whenever you are ready to buy a house. God damn. Must be fucking nice.
Even if he is coming into this money, it's still a braindead decision to take out this car debt. Had he just gotten a much cheaper car, he could have saved/invested the money he is inheriting... THAT is how people build and maintain wealth.
I honestly don't blame this kid for getting into stupid debts because he doesn't have the concept of money since he knows he's getting 80k cash and has another 18k in his roth. He has a great foundation as long as he listens to Caleb's advice. We've seen much worse people on this show. Hell, if I was 20 and I knew I was getting 80k cash, I would probably spend it on something stupid too. Hopefully he gains a lot of valuable lessons. I know I would've.
He also said he gets 400k whenever he decides he wants a house.. doesn’t even have to wait a few months, he has access to that whenever.
That $400,000 that’s coming to him has made him arrogant. “You kinda cut me off”. He had an answer for every suggestion. I don’t know why he came on the show except the flex on his inheritance which I don’t see him investing correctly or keeping. There’s a reason why he was banned from applying to the police academy for 10 years. He’s immature and thinks he knows everything.
Would like to see him back a couple months after the custodial account is transferred to him. Great video as always Caleb!
This channel is Amazing. It really put the pressure on me to clear up my debt. Im now debt free after 9 years, cleaned up a massive 70K credit card balance, bought my first home with a good Interest and mortgage, can send my kids to private school, purchased homes for my parents and children, opened a chain of fast-casual Somalian restaurants and tomorrow im having a meeting with the tesla dealer to discuss a new car. Im 13 by the way.
things that could disqualify someone from becoming a part of law enforcement include things like: bad credit history, felonies, misdemeanors, dishonorable discharge, incorrect or false information on the application, past or current gang affiliations, past or current drug use etc.
I love watching these episodes! Wish I had someone to approach me with these situations years ago. Since watching these I’ve tackled my credit card debt and is almost completely gone, have been making smarter choices on eating and encouraging myself to actually meal prep 😅 and almost have enough aside for an emergency fund. It’s really helped me to look at the important financial aspects of life.
this kid would be in such good shape in his life without that car loan. idk wtf made him think a 65k car loan making $16 an hour was a good idea.
Zero idea of what real life consequences are. He'll blow through that trust fund quickly with his current attitude.
Something to do with he's going to have $500K trust fund in less than a year
This kid is in great shape still with that car loan. He’s about to get 500k. He can spend 64k of that to get rid of the loan
@@lindawang5649 There are professional athletes who blow through millions in a couple years, unless he changes his attitude toward spending and money that 500k won't last long at all.
64k in car debt at the age of 20 years old. How do places even allow people to get financed like this?? Can’t wait to watch this to figure out the salary this guy makes.
Exactly. Easy money and government printing trillions of dollars caused this mess and its only getting worse.
@@lot2196 quantitative easing has nothing to do with predatory car loans lol you can blame corporate greed (otherwise known as capitalism) for that
@@chrisrunsthis it has everything to do with easy government money. If there wasn’t easy free money they would not have enough to loan to irresponsible people.
@@aaronkelly3035 You remember the ancient times of 2008? No easy money and high inflation there and they still had more than enough money to lend to people to buy houses they can't afford.
@@aaronkelly3035 what money is he getting from the government for his car? You’re just making things up because your politics are blinding you 😂😂 Getting a stupid car loan has nothing to do with the government it’s about dealerships making profit off of dumb people
I bought a new car after 10 years last year, but the interest rate is 2.6% and after 15k down its not too bad. One day of overtime covers my interest cost for a year. Plus it’s electric so the amount of money I’ll save on gas an maintenance over the next six years will make it the same as if I had bought a Camry during the market at that time. No sales tax either.
Sometimes the math does work out, just takes a little thought, and very good credit.
my sister always says Take care of yourself first before you start taking care of others.. because I always want to help my mom … & she’s right
Homeboy financed a 60k Mach E while making at best 20 bucks an hour. Wow.
His family has spent their lives earning money that he’s just going to frivolously blow 😳
not really my grandpa started the business' at 65.
@Carlos Fischer even worse
What kind of business can a person start at 65 and exit for 9 figures? How fast did he scale that thing??
@@carlosfischer8101 you are starting life out broke because of poor financial choices. You need a serious wake up call kid. You are spending money you don't have and didn't earn and still living at home. Just wait until you move out and attempt to keep working security. You bought a mach e just to spend more money than what the gt cost you. I kinda feel bad for you because you don't understand how to handle money because it was just handed to you. Good luck
Right off the bat roasting him “who u gonna stop?”🤣🤣🤣
Damn this guy has it so easy. I hope he takes these funds and makes sure he cleans up and sorts it all out.
This guy lost me at selling the '79 Vette to keep a '16 SUV
Holy cow man.
He's constantly handed money and just shits it away. His numbers are definitely skewed as well. No way he had 500 subs on twitch and couldn't break the 25 viewer barrier. He has 0 idea of how to handle his finances because he will be bailed out of every terrible decision.
I LOVE it when Caleb mentions how he's single in his videos. It's so cute and makes me giggle. I'm 28 and if I wasn't in the midwest and already in a relationship, he'd be my ideal guy.
As a 22 year old man I bet he’d be a great friend to have.
I wish I'd been able to learn from Caleb when I was young. I finally got out of debt and for the last 15 years I pay off any credit card purchases weekly. However, I'm learning from Caleb the importance of building savings and cutting out the non-essential spending. We all need to face hard financial truths at any age.
Yeah but you could get hit by a bus tomorrow and all that saving was for nothing, well not totally nothing, the government will take it, I just can't see the point in hardcore saving and living with "non-essential" purchases.
One pet peeve: Why are 3br/2bath homes considered "starter homes"? I feel this is a big part of the problem with the real estate market in decent suburbs. Developments are either crappy overpriced glued together gimmicky "luxury" townhomes or full on mcmansions. A 3br/2bath ranch with a yard should be considered a normal middle class home to raise a family and more of them would be built if people didn't consider them "starter homes".