52 Year Old Has $0 And Is Stuck In A Pyramid Scheme | Financial Audit
Вставка
- Опубліковано 31 лип 2024
- ▶The best budgeting program online, at the most affordable price: go.calebhammer.com any questions? Email support@calebhammer.com
▶My team and I will personally review your budget and put you on the right financial path going forward: go.calebhammer.com/review/
_______________________
▶Resources I use/would use (with discounts/sign-up bonuses):
1) Checking & Savings: Get up to 4.60% APY, pay no account fees, and earn up to $250 when you sign up and set up direct deposits. Terms apply: creator.sofi.com/c/5535481/20... *affiliate link
2) Start investing: Transfer to moomoo and receive up to $5,000 in Cash Rewards using my link Terms & Conditions Apply: j.us.moomoo.com/00Cqzn
-For the sign up bonus, Click this link to get up to 15 free stocks from moomoo U.S when you make a qualified deposit. Terms & Conditions Apply: j.moomoo.com/00Bn5Z
3) Coursecareers: Get qualified for a better job and increase your income: coursecareers.com/a/calebhammer
4) Mint Mobile: Cellphone bills are too expensive, use my link to find a plan starting as low as $15/month in just 15 minutes with my partner MintMobile: mintmobile.com/hammer
5) Online security: Protect your online privacy and security NOW and for free by following my link Aura: aura.com/hammer
_______________________
▶Fun things:
1) Exclusive episodes, private Discord, BTS, and a special thank you: / calebhammer
2) Rules For Not Being A (bad word): www.calebhammer.com/rules
3) Merch: The most fun website: shop.calebhammer.com
_______________________
▶My socials: linktr.ee/calebhammer
▶️ Want to be a guest on Financial Audit? We film weekdays in our studio in Austin, Texas (in person only)! To apply, visit: calebhammer.com/apply
_______________________
▶Sponsorship and business inquiries: bunsiness@calebhammer.com
_______________________
These are some fun words: Caleb Hammer, financial audit, Graham Stephan, Dave Ramsey, Ramsey Show, George Kammel, Rich Dad Poor Dad, Podcast, Budgeting, Investing, Stock Trading, IRA, Roth IRA, 401k, health savings, HSA, 403b, college costs, student loans, debt, snowball, avalanche, pension, retirement, financial independence retire early.
_______________________
▶*Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. Some of the offers mentioned may no longer be available. This is not investment advice.
▶Sponsorship and business inquiries: business@calebhammer.com
Just your every once in awhile reminder that I talk to each and every guest about the thumbnail, title, and chapters ❤️ Let’s show them some love for promoting financial transparency!!
What kind of mics do you use for your videos?
Thumbnail is just for clicks, it's not personal
Don't change the thumbnail.
Good to know
Your consultations are so expensive it's amazing any of these people in bad spots can afford it! Is it a discount or free if they agree to do the video? I'd like to do a consultation but 200-375 is steep
You should definitely have more older folks like this on your channel. They can serve as good examples of what to do or what not to do for younger people.
Agreed. Great point
They just need to sign up!
@@CalebHammer this guy was hilarious telling him he could get you to loose weight. Kind of rude. But anyway I’m glad he found this triangle thing instead of crack or meth. Seems like the kind of guy who would hit the pipe under different circumstances.
I agree! Great video!
Also some successful younger people to show what right can look like.
The fact Caleb made the pyramid drawing like Jim did in the office is an absolute legend move. Can not get over it this guy is Michael Scott.
I thought of that but I haven't even seen that part of this video yet! I'm so excited... Lol
I read comments while watching the video, wtf this happens !
But this is REAL LIFE! 🤯
I loved how Caleb also looked at the camera just like Jim reaction shots. Ha!
45 points 45 days! One point per day! 41:41
I love hearing everyone in a pyramid scheme try to explain the nuances that make their company different than a pyramid scheme
It’s like sitting through a timeshare…being told it’s not a timeshare.
I haven't made it to the pyramid scheme part yet but with the absolute drivel and BS constantly flowing from this guy I'm fully expecting it to be something along the lines of, "It isn't a pyramid, it's more like a pillar. But see, and this is something I learned in my years of working construction, you know, when I was making $400k a year and spending it all on my wife who died (whose death crushed me but here a couple years later I have a new lady) and my son's motocross career which he doesn't make money at, but he could and he's a feared name in the circuit; in construction you want to make sure you have a slightly larger base to your pillars for maximum stability, and really you want to taper off at the top to decrease wind resistance. So really the company layout is a well constructed pillar if you think about it."
I dont love it. It is super sad. nothing to love. It is an illness.
@@ThaxannadroteI’m absolutely dead 😂💀 Your writing is gold!
DAYYUM. accurate lol@@Thaxannadrote
Know this: when you are at your lowest point, that is when you must be on guard against scammers and people pretending to be your friends.
Literally the Hardest, most painful Lesson I've ever had to learn... a few times... But not MLMs... Not to say I wasn't burned. The only silver lining is that it's impossible for me to be naive anymore... These experiences are what finally got me to the level of "extreme self-interest" I needed to be so it never happens again, should I find myself in an emotionally vulnerable place again (which is guaranteed as a part of life).
Great reminder ❤
Yup. Its tough keeping a level head when you are desperate but its super important because its when people are most likely to do ridiculous things.
“If you lose a kid you can make a new one”
“Some people have a job and can’t go to the bathroom every 10 minutes”
This guy is full of wisdom LOL
I cackled when, immediately after that second line, he said "women are weird, bro" 😂😂😂😂😂
"It is a pyramid in structure but they call it a dynamic..." aka it looks like a pyramid but that's not what they call it because they're also trying to save their asses from the amount of probable debt they had getting into this
"And five and five and five and five"
🔺️🔺️🔺️
@@CraftwithKarenwhat he clearly doesn’t realise is that if you add five, who add five etc you run out of the *population of Earth* in 15 levels. 🤦♀️
He's telling himself a story only he believes.
@@jacksonbilly9979 I died of laughter when he said that
I love how he starts by saying, "This is not a pyramid scheme," and then proceeds to precisely describe a pyramid scheme.
To be fair he describes an MLM. If it is a pyramid scheme solely depends on the product and while it sounds like it is worthless junk that won't sell we don't know for sure. It probably is but that is the only saving grace somebody could argue
@@Sadreath To be honest.
Your typical pyramid scheme focused on recruitment with the product being secondary.
IF the focus was all about the product no one would need to recruit and could just sell them any and everywhere to anyone for a decent profit.
This is the same reason no one gets rich selling Amway products.
The money is in the team recruited that are paying monthly for the privilege to be in the company expecting riches to flow to them.
I remember when I was essentially tricked into going to an Amway presentation and one of the first things the presenter said to us was “some people might say this is a pyramid scheme, but it’s not.” Then he proceeded to show us a PowerPoint presentation with triangle shapes all over it lol.
@@katydid917 BINGO!!!
Frankly, if one has to say "it's not a pyramid scheme", 99.9% chances it IS a pyramid scheme.
This guy was the dreamer and imagineer. Pretty sure his wife was the one who contacted clients, bid on projects and actually found the business. Once she was out of the picture, the business fell apart, so he went in dreaming and fell into these kinds of pyramid schemes. My dad was exactly like this
'Women are weird bro"
That's the impression I got.
Yes
@@nataliek5134same😊
@@1Manda1dad
I'm 60, no pension, no investments but no debt, I have a fully funded emergency fund, small savings, fully paid 3yr old car, and a modest mortgage-free home. It was the best I could do as a single mom and also put my daugther through medical school so that she came out with only $5k debt after 6 years. I thought I was in a bleak cirumstance until I heard this guy. I have five years to improve my circumstances a little - I don't know how....but I won't be doing it via a pyramid scheme.
Seems to me like you did an incredible job, and you have set up your daughter for success her entire life. I am certain she has learned important financial and life decisions from you. The system is rigged against you, but you succeeded despite it. I hope you are able to retire soon and enjoy it :)
It's wonderful that you helped your daughter, but it is sad that you had to do it at the expense of your own financial security. She should pay you back in some way. And if you can, you should plan on working until age 70 to try to build up your savings. Wish you the best!!
@@nmptw Thank-you for your lovely comment 🙏
@@katbrown415 Thank-you for your kind reply. She's a good girl/woman and yes, I will have to work on but maybe 68 might get me out.
In other countries your daughter would take you in, not in Nuclear America apparently.
The funniest part is this guy actually trying to pitch the pyramid scheme to Caleb.
He really took this to heart, "Always be closing", lol
@@FableCountry If only he was "closing" his credit cards.
It's a triangle.
This is really some shit straight out of "the Office".
He needs Religion instead! /S
This guy is the perfect example of wisdom does not automatically come with age.
Crazy part is dude knows how to make actual good money but all goes to waste smh hope he comes to reality soon
That's why as someone in their 20s I'm trying to make the most of my time and learn as much as possible as to not make the same mistakes.
he hit all the pyramid scheme key words 😂 "wellness program" "supplement package" "lifestyle" "non GMO" "45-day money back" "success" etc etc lol
"platinum executive" "a million dollars a month"
He read that manual very well 😁
They always talk about being a leader. I didn't catch if he mentioned it.
I was waiting for "I have this book I want you to read" line.
Then proceeded to explain the most incorrect understanding of how weight loss works while talking about a support page for recipes for a diet. So if you're getting results, it's bc you changed your diet. Snake oil.
Everyone, please understand that Caleb cannot make anyone sign up for his show, let alone people over the age of 25. They have to want to do it. I applaud this man for having the courage to come on here! Most people his age may be too ashamed of their current financial state and have too much pride to appear on the show. Just keep that in mind.
I'm thinking he is probably paying them a few hundred dollars to incentivize these people (who are all in need of money) to come expose their broken finances. Still brave tho
this^^ I respect everyone that takes the time to come on the show
You're giving them way too much credit for ruining their finances through nothing but immaturity and constant lying to themselves
I think he came on the show to get people to sign up for his new business and have people send him money.
Especially speaking to a person young enough to be their child lol
shout out to my mom for dragging me to enough of her friends' jewelry/kitchen/beach body "parties" to never fall for a pyramid scheme.
🤣🤣🤣🤣
Beach Body?? Lol only in America
@@the.tonyshow7395 not a lot of nice beaches in places where locals have money. locals are poor or move away from the tourism.
They didn't do that Mary kay
😂😂😂😂 screaming
Rule of pyramid schemes and cults: if you have to explain why you're not in one, you're in one.
“If you can lose a kid, you can make a new one.”
You lost me there, partner. 😅
Child mortality was 40% until the 1900 and there was no birth control. They used to have 5 children and only one or two survived until adulthood so they didn't care as much.
Sure, now that we have 1.8 children in developed country it is the end of the world if you lose a child. But for a long time it was commonplace.
Me too. Sympathsize with his siutaiton, but no, we can't be that cavalear about a human life.
He’s not wrong. You missed his point.
@@dabiri69no they didn’t this guys a bum
I felt that more applies to a business or even a wife...
I eventually became convinced that he was only there to discuss taking you under his pyramid scheme. 😂
Literally just needed a new client who could lose 15 lbs
My thoughts exactly.
He talks the MLM talk. "You won't make $250K working for someone else in a 9-5 job" "I'm a risk taker" "I'm a CEO". And yet, here he is with no money, no savings and little bit in crypto.
@@viewviewview1236 ...slipping in to people's DMs...😆
I’m less than 15 minutes into the video and I thought the same thing. I don’t know anyone in a pyramid scheme who isn’t trying to recruit every woman, man, child and dog.
He’s not here for help. He’s here for validation.
and he'll die penniless and no assets.
@@PJ-sv4iw i hope you do too
@@melsdino Nice comeback. If you don't see the situation he is in, his choices made, it makes sense. Time is not on his side any longer.
But I still hope he's ok. At some point in our lives we will all dig ourselves into a hole and need someone to pull us out.
He’s there to promote the business
This guy says 100 words for every one that's necessary.
It's called obfuscation
What does your company do?
Well, [...] we [...] are [...] framing houses [...] and [...] my wife [...] died recently.
He’s a swindler. I’m thrilled he’s broke and out of the business for good.
Yeah I still have no idea what he does to make money
@@KendallHall I mean he did make money building houses. Now he tries to make money selling useless nutrition stuff (think herbalife) in a pyramid scheme
“I know what I’m capable of”
- is in extreme debt
- no retirement
- currently being evicted
- currently in a pyramid scheme
🙄
What is your advice for any average joe that wants to do well financially? Is crypto good?
@@moonknight4053 please dont do crypto, the entire market crashed and it probably wont recover
I'm capable of making HORRIBLE fiscal decisions!
@@moonknight4053stop consuming bs. Strictly follow a budget and set multiple small goals to hit instead of one big vague dream. Work your ass off while your body can still move.
@@moonknight4053pay off your debt, build your emergency to a minimum of 3 months of expenses, cut out BS spending (subscriptions, eating out, delete food delivery apps from your phone), invest a minimum 100 into an invest fund every month. Stay away from trending ways to make money, get rich quick schemes and anything that sounds too good to be true.
I have no clue how Caleb can POSSIBLY stand hearing so many tangents after asking direct questions. That on top of incessant and outrageous lies. This man’s patience is different lol
I feel this on EVERY EPISODE. Just answer the damn question!
@@Ms.W35 But you have to know the reasoning! Otherwise the answer makes no sense!
This guy. The hero and the victim of every scenario.
I applaud your patience, Caleb.
This is the most accurate description!
@@kingsuper97, thank you, sir! Have a good weekend. :)
Guy is a steamroller and professional bender of the truth. I’m sure friends and relatives have distanced themselves after they were burned.
@@deepsouthcoffee , 100%.
Nailed it. I think the problem is he believes what he's actually saying.
First off, this guy NEVER brought home $400,000 at ANY point in his life, secondly, he definitely came on here as a commercial for his Pyramid scheme.
I owned a construction company for 12 years. I just sold it and retired last year. He's completely full of crap.
Why do you say that? There are plenty of high income earners that live paycheck to paycheck. $400k is a very good living, but it's not rich.
@@AddyGoesPlaces anyone who's been in business, especially in construction, can spot a liar a mile away. He's inflating his income. I know for a FACT no one makes 40% profit in construction. $1 million in gross annual receipts equals between $150-200k in net profit.
@@AddyGoesPlaces Nah 😂 that’s more than enough after taxes if he lives within his means.
@@TheRadiantPeachBudgets Yes, and plenty of high income earners do not live within their means.
I've met people like this guy. They hit it big a couple of times when they were younger and they continue to chase the "high". They have remnants from all of their businesses that they've tried to get off the ground. At the end all that is left is a bunch of dreams and surviving on social security.
I know someone exactly like this. They refuse to get a regular job or do the basics. They think they’re too “special.”
Hrs can't go back to contracting because he got in legal hot water for shoddy work or funny money.
Living in a van down by the river.
Sadly, many times "optimizers" underreport even the income they do make on their taxes, reducing their SS benefit.
I've met these guys too...Hope I never meet another one again but I'm sure I will...
He's a smooth-talking guy, robbing Peter to pay Paul... unfortunately, he is Peter AND Paul 😂
This guy sounds like Ted Levine.
This is the guy at the end of the bar that always has a story
but there is nothing whatsoever that can back it up.
He gives me major gambling vibes. Like instead of a casino he’s gambling with his life at every turn. Also being someone who worked at the corporate office of a pyramid scheme/ MLM I feel bad for how someone preyed on his struggling soul and for how they have brainwashed him so severely 🥺
What did you get sucked into? A Primerica office? Those people are lucrative.
@@Jon042309 You're close, PHP out of Dallas. I wasn't in the pyramid though, I was an hourly employee that was grossly underpaid. I know first hand the manipulation and brain washing tactic they use on people and watching this video had me on the brink of tears because I could see just how much someone preyed on him in his vulnerable state. Its heartbreaking because he thinks he's going to make all his money back and be a millionaire - when in reality he is the biggest customer of the company.
I thought the gambling thing too when Caleb was shooting off withdrawals of 1k, 2k, 1k...reminds me of an ex-boyfriend.
@KissMyChancla Primerica got me once (I was 18)
They're lucrative? I mean, the top of the pyramid was. We struggled
Yep, looks like gambler
This was by far the most frustrating episode I have watched yet. My mom is 52 and spending all her money on hair extensions and make up. She changes jobs almost every year and has no retirement. Idk how to make her understand that I am not paying for her retirement even though I’ve said it many times. She’s going to have to figure out how to make on social security.
I hope that doesn't fall on you in the future good luck
Oooof😅
But at least she’s not in a pyramid scheme
Hopefully you don't live in a state that has filial laws that are enforced. My mother is a narcissist abused me all my life. Stole my college funds my grandmother left me. She sent me to prison at 7 years old by projecting her abuse on me. Screwed up my entire life handed everything to my brother. Including millions worth of my personal property that was stored at her house. I could write a chapter novel on the horror stories of abuse. I have CPTSD, I've been physically sexually emotionally and verbally abused for 30+ years. I've had to help her for over a decade now. Currently forced to take care of her 24/7 due to filial laws and other legal complications. The alternative would've been to agree to pay 6 figures a month for a nursing home for her forced by law.
Without delving into further details you can be liable for the reckless financial mistakes of your parents in some states in the USA. So be careful as you could get forced into accountability for your mothers failures later in life.
Well you've told her multiple times. You've given her the knowledge, the choices that follow are hers.
My dad retired at 52. He was a business owner and thankfully had invested and lived within his means for his whole life that he was prepared for “failure” when a chain business moved into our small town and slowed his business down. He didn’t keep putting money into the “failed” business, he just cut his losses and accepted he was retired because he had lived his whole life up to the point in a way that assured he would be okay for the short term and then actually delay his social security until retirement age to max it out. Through stock market and proper saving, and good money skills it’s possible to be ready for life’s events. When he closed his business my sister and I were still in high school and our mom was a stay at home mom. They weren’t focused on “leveling up” they bought cars and kept them for the life of the car. 5they bought a house that fit the family and worked to make it nice over time. If you live in your means when you have success you won’t end up like this poor guy.
“Treats injuries at the cellular level.” Ahhh, got it. It’s a scam.
Mark Cuban WHALES on people who promote this type of thing.
At the cellular level!?!?! Fantastic idea.. let's get a patent. We'll call it "medicine"
He's embellishing a little bit but I worked at a rehab clinic for a while, and red light Therapy does have some pros and some evidence behind it, not that it does everything he's saying or that I'd be down to join his MLM though...
Don't forget "medical grade"
Afraid so.
This man is the definition of "you only live once"... He was spending money like there literally was no tomorrow. And now that tomorrow is here he has to face the consequences
Exactly what I came to comment - this is where that attitude gets you.
He’s lucky he hasnt faced the music until his 50s. I have friends in their 30s whose lives are rapidly becoming dark.
@@gregtaylor9806 shh the dark listens
If he really had it in the first place. Sounds like a dreamer.
He is completely full of crap, He has been a con (Not a very good one) his whole life and now he is out of time.
He's a talker.
OOF, his closing statement being he wants to check back in with Caleb about his business and ask for advice gave me hope, until I realized he was talking about his scheme and recruiting Caleb to join...that hurt and I could see on Calebs face that it hurt him too, man doesnt want to get better cause he feels like hes just fine where hes at, rough
Caleb is correct. This guy will never get out of his situation. He talks the talk but doesn't walk the walk.
Him pushing the pyramid scheme was gold. He's a dreamer.
What you’ll notice is 100% of people that push this are broke. If it work, why isn’t it working? Lol
i was dying laughing
@@cfslim4768 that dude is a mess.
Grandoise dreamer for sure
Delusional is what he is. Talking about the ad got blocked for racial things and pronouns. Cut the talking points. You can't promise something that's not proven. Oh a triangle right glad it's not a pyramid.
I was intrigued by his life's story at first, then I realized that he must be making up most of his prior success.
This
He is fascinating and a very interesting guy I think too. Hr's lived a lot and had many chapters to his life and made some great memories doing what hes done. I can understand why he is the way he is and why he believes it. Having said that - I actually believed him. I've met quite a few like him who had one or two huge successes in their life that fell apart sometimes due to their own choices sometimes due to life circumstances but usually due to a combination of both and they hold on to that success as justification for all the other Illusions and beliefs they've created, they chase it like a drug. And I understand why they do it, when you have that kind of success it truly is like a high and you watch it take off and translate into something real right before your very eyes but it could just as quickly slip through your fingers just like the Gambler who always remembers the one time he won big
@@ValentinaVaVaVoom left no crumbs
Guys like this always manage to have 1 or 2 good years and forever view it as the baseline.
He probably had one year where he grossed over a million, didn't have the skill or knowledge to keep up with the paperwork that comes with that, bought a brand new truck and a bunch of toys then fell behind on his work, got fired from some jobs, and the IRS took the rest. Got a reputation for being unreliable then struggled to find work from there.
They usually drink themselves to death.
@@frankvonfraunerif he netted 400k on 1.5 million gross in construction, he was cutting corners.
I don't know how Caleb had the patience.
The last almost 20 minutes of this video is him going into salesman mode about his damn pyramid scheme nonsense and suddenly we weren't watching someone trying to better their life, we were watching someone trying to sucker Caleb to buy into whatever it is he's selling and make a quick buck off of him.
I watched this one a few times now. This is, by far, my favorite episode. My step brother talked me into a pyramid scheme when I was young, but I never heard of a pyramid scheme before. boy, did learn my lesson! Thanks, Quixstar 😡
The parts where he said women will go crazy if you don’t pacify their beauty needs and they can end up pooping excessively on diets had me rolling. I’m addicted to this series.
That was so crazy to watch. Like he is selling diet advice and thinks you lose weight by pooping a lot? Not only is it the opposite that you stop pooping as much because you usually eat less. Not to mention that about 80% of the tissue we lose is exhaled as CO2 and not pooped out. My man is selling laxatives.
"women are weird, bro"
Explosive diarrhea is a solution for massive weight drop in short period of time 😁
Oh, yeah, females will RUN for a diet plan that has us pooping every 10 minutes. Better hope you don't get tangled in the vacuum cleaner hose at that 10min mark, or you'll be putting your Hoover away and dragging out the Wet Vac!
You know hes a southern silver fox and you WANT HIM. you make me SICK
I was raised by a man like this 😵💫I wish I could say he changed at some point, but he is 60 and still saying and doing all the same things. My own little family is debt free and changing our branch of the family tree.
same bro
Congratulations for breaking the chain! More power to you
Good on you!
Good for you. You can’t change some people but hears to you helping the next generation.
Same! I’ve changed my little branch too… it was hard to watch that - brought up mannny memories
This guy is the real life example of “All hat, no cattle.”
You need to interview scallopers and fishermen from the east coast. These guys start young, have 20k enter there hands a month, and burn through it immediately in days, never pay taxes, and somehow do it well into their senior without anything to show for it except tons of tattoos , nicotine addiction, bartender girlfriends 15-20 years younger than them, new truck with debt on it, eviction notices, and auditors up their ass
This sounds exactly like the dudes we have working out here in the oil & gas industry in West Texas 😂 like word for word
This is one of the wildest audits. He’s a man willing to do what he can to please others even financially harming himself. Hope he’s able to get his finances in order.
No, this guy clearly has shiny object syndrome. He is too bored/not motivated to stick with the construction company so he jumped ship to the next shiny object. He made all the decisions he did, but had an excuse for them all. At least he is realizing he needs some help, but I don't see him changing right now tbh.
That's one side of the story, yah
only thing he seems unwilling to do is accept responsibility. There was always a situation or explanation as to why, always the victim getting screwed. Doesn't acknowledge he put himself there to start with.
My bet is he isn't the innocent do gooder victim
No he’s a pathological liar and delusional to boot
I am going to be honest, this was one of the hardest episodes to watch. I mean no offense but listening to this man was physically exhausting. I fear that he has had this mentality his entire life and (unfortunately), given his age, he will never change. I have listened to people like this who talk in circles trying to convince you of something SO delusional that there is nothing you can say to them to bring them back to reality. Props to you Caleb because I would not have been able to sit through that as calmly as you did. I am really interested to see this man's 6 month update to see if he has listened to anything you said.
Thank you. This guy is so annoying. He's not particularly likeable either.
Yes, it's like he's trying to convince himself that he's doing great by convincing you. Denial.
Thank you for saying this. I’m beat watching the video, but mostly out of the sadness you feel after watching a tornado. It’s a disaster but hard to look away. Feel terrible for the people who have been involved in the whirl of it all.
I agree. He is incredibly confident about all the decisions he made and continues to make. Which makes no sense, really, because he's on this show asking for help figuring out his finances. Yet, he seems like someone that won't really do what you tell him because he knows better.
I would happily go without the update. Mostly because I know it would be the same rambling and he wouldn't have changed his ways.
Caleb, this would be a legendary follow up episode. This was the first and still probably the worst situation I’ve ever seen on your channel this far. PLEASE GET THAT MAN FOR A FOLLOW UP 🙏🏻
The guys going to be homeless.
43:53 "What's your marketing strategy?"
"Women are weird bro"
This guy is a freaking gold mine!
“Child? You can lose them, make another”
I mean he’s not wrong but it’s not quite the same thing 😂😂
I laughed too lol
Fr
That caught my attention. Not a psychologist etc so it's dangerous to make a call like this but that feels almost certainly sociopathic or psychopathic.
I felt bad for laughing lol
He was on a roll there
"A child, when it's gone, you can make another one" SORRY WHAT?
My jaw dropped when he said that...
Breeder mentality I guess? I was floored as well. He had my sympathy until then.
It was disgusting!!!
After he says he lost his stepchild a year ago and spends a ton of money on his masterplan for his son….
Well technically legally it is correct
I can’t imagine being 52 and at square one..
My mom is 69 and raised 4 boys on 28k a year, that was super humbling to experience. It made all of my brothers and me hustle, its all we know and were now all successful.
“You wouldn’t be able to pay me” Caleb is my spirit animal 😆
This guy really put into perspective how seemingly normal people slowly go old and homeless
Yep. Entrepreneurship and Gambling sometimes go hand in hand.
This guy is far from normal.
@@palace927 search up the word 'seemingly'
@@ArJayDM I was agreeing with you.
Yup. I understand now.
this guys says a lot of things! Without really saying anything.
Exactly I thought I was the only one, I'm soo confused!
He should go in politics. That's what politicians do all the time.
He thinks he is wise in his own eyes.
@@cmcordoYT yes
I was thinking the same thing!
6 months later, its time for our update with this gentleman! I hope he proves us all wrong with that pyramid thats not a scheme but definitely is!
Guarteed money😊
just imagine being sat next to David on a long flight. Nightmare
It's hard to understand why someone would put time and energy into a pyramid scheme as opposed to putting that time and energy into a previously profitable construction business.
Oh, that's actually pretty simple. In short: brainwashing.
It's similar to how people get indoctrinated into cults, in bad relationships, hooked to mobile games, etc. It starts with "Love bombing". You bombard them with cheers, free gifts, and a small investment. That targeted on people that are a little naive who are looking for something, like how to make money in this situation. They invite them to a meeting like a "conference" or whatever. Encourage them, use linguistic manipulation (like saying "by now you're... By now, by now" because it sounds like "buy now"). Then they throw others on stage with their success stories to reinforce the idea that it will work for them. Those successful ones say "I was just like you. If I can do it, so can you! Your journey starts today" to further reinforce that idea. Add in something so the target takes on the responsibility if it doesn't work like "The system works if you work the system". Add in cheers and applause as they take the first steps. Follow that up with a next step that will "unlock their success" followed by more cheers and applause. Discourage doubt and interacting with outsiders who raise doubts. Rinse, lather, and repeat until they're stuck.
It's basically it's own field of psychology with experts hired specifically for this.
Edit: oh, and FOMO (Fear Of Missing Out) like is demonstrated at 5:30.
My thyroid problem is getting in the way of my happiness and made up words
@@erin9868He was still pocketing 400k, per his own words.
He makes it sound like his body just couldn’t do it anymore
@@erin9868 He said his net was $400,000. Is that not profitable?
I wish Caleb had pushed him a little more when he said he doesn’t want to do construction anymore around the 39 minute mark. I wonder if that’s related to his legal issues that he briefly mentioned
this man is a masterclass in a bunch of different ways not to think.
You know his income is bs because each credit card limit is $500 or $600
I give a thumbs-up on every episode that I watch but I thumbed this one up specifically for the patience that Caleb had for this dude. I would have been up a wall with all the stories and excuses.
Some pyramid lady scammed him into building her a free remodeled office. He’s out of his depth.
This guy makes me really sad. He could have tucked away $200,000 a year and still could have been going insane with money with the other $200,000. $400,000 in income and broke just shows that money management really is a skill you need to develop.
Well taxes lol but I agree with the premise with some adjusted numbers. Just 5-10 years of heavy savings (while still living a very nice life) in his 30s and he would be so unbelievably set right now ugh
If you've ever met guys like these, you should be very skeptical of whatever huge salary they claimed to make in the past.
@@andrewmalone8709 Exactly this guys never made any money
@@responsibleaccount3918 yes
There is zero chance he ever could have earned enough to put away 200k. Even if it’s true his company earned $1m+ that doesn’t mean he took that much home.
After sticking in to the end I just realized this guy doesn't want financial advice, because he doesn't think there's anything wrong, he just wants to use Caleb's channel to advertise his pyramid scheme that's not a pyramid scheme.
I absolutely love how you tear into these people and get into the aspects of their lives that are totally unrelated to their finances.
I just turned 40. Thanks for this show. It's lighting a fire on my ass that I need to get sh*t straightened out. Just updated my finance spreadsheet. Not happy with my downward trend. Definitely need a new job this summer to get going in the right direction. This show is a key motivator. (And, no, I have PLENTY of savings--emergency fund that could tide me over for maybe 5 years. I'm not like the crazy people on here. Just that I've been drawing down on these savings to the point where I'm feeling discomfort and anxiety. But I need that.)
Yeah, I started using my budget app again!
He's the kind of person that has been bulshitting his way through life. That MLM company hit the jackpot with him, he's perfect for them. And when this one doesn't work, he'll try another one and another one and then he'll start his own piramid scheme. Good luck my dude.
Dude, this one was hard for me to get through because he had an excuse for EVERYTHING. And for a guy who talks a big game about all the stuff he has done and how much money he claim to have earned over the years he has absolutely nothing to show for it. I feel for him for losing a wife and a child, but there is zero chance he had any of his shit together prior.
And you’re spot on about him being every MLM’s wet dream.
Dead on
At least he would make some money if he started his own MLM -- getting in at the top 😂
@@MOS397 He also seems like a huge narcissist. Hes in debt and about to be evicted. Yet he leaves no opportunity unused to brag about how great he is. There is zero self reflection in this guy, nor critical thinking before making decisions.
The thing with his son sounds like a guy who is convinced that he is going to win the lottery, and just keeps pouring money into lottery tickets. Even though there is like a 1/1000 chance to even just break even probably.
He is full of it. He is just letting him talk to expose himself
I can’t believe he’s really pitching this to Caleb. MLMs are the worst and in 2-3 years he’ll see that. I hope he gets there faster.
His marketing pitch to Caleb is so cringe
I think he did the audit to get free advertising for his company.
Guarantee this dude is a serial MLMer.
He’s so brainwashed he’s probably going to blame himself for not being successful at this pyramid scheme because to him it’s a legitimate business
Not all MLM's are bad, but these "diet" ones, certainly are. Just ask Herbalife
This dude is fully deserve his financial situation. I mean he is real example that age doesn’t mean intelligence
I’ve watched a lot of these episodes but this one is WILD!
Ugh ! This is why at 49 I don’t date . There’s a lot of these men around . Broke , deceptive and grifters . Don’t believe he’s ever made any real money in his life . He also had every excuse and reason why he’s the victim .
So true. I’m older but have been happily single for awhile. I have my two grown sons, a grandson and my cat and lots of fun and creative hobbies. Retirement is great 🤣🤣🤣
I've met so many younger men that are like this too! Seems like they never grow up. Good financial habits start in your 20s
how are you oldies managed to make this about you and your dating life all of a sudden............... who cares no man wants to date a 49 yo anyways,,, yeeezz
It’s men and women
Don’t blam guys like him for your lack of faith in the dating game. I’m 12 minutes in to listening to this guys talk and I can already tell he’s so full of it. Lol that’s like saying every car breaks down so I might as well just walk everywhere.
Lmao when Caleb drew the pyramid it reminded me so much of the Office when Jim draws the pyramid for Michael😂 this is some good content man!
This guy reminds me of my childhood best friend who is now 52 and he still thinks he's so close to making it big. But then the next week he's calling me for rent money because he's going to be evicted. He just doesn't get it.
Wishing health and happiness to this man
As a 45 year old woman everytime you have middle aged people on your show it makes me think. What can I do to better my finances? Thanks for the show!
You can start by not joining a pyramid scheme.
Invest in a Roth IRA with SPY which is the S&P 500 index fund, you’ll get dividends every quarter that compound
Yeah, me too! Today it got me to make a pancake at home instead of buying YET ANOTHER icecream cone at my local gas station :)
Dont get scammed. Dont buy into a pyramid scheme. A Saudi prince doeent nedd your money
@@wread1982 Investing is a scam don’t invest anything
No David, women don't turn into rabid, tantrum throwing, lunatics because we don't have hair, nails, and lashes done. Maybe YOUR woman does, but some of us respect our financial situations and working husbands, and compromise in order to stay home.
From what I gather she is a sugar baby. He says she is educated and he paid for it and not from “here”. She’s an esthetician and has all these machines, yet makes no money for herself or her husband.
Bridget but a good amount of women born after 1980 here in America do act like that when they don't get what they want.
Regardless of what anyone else in his life said to him, it’s not why this man’s finances are in the negatives. He spent 30+ years honing excuses instead of financial skills. A lesson of what not to do.
Some women do and some don't. It's sad that he's accepted it as a fact of life thought.
It was only until a few years ago did I realize that's a thing lol
Ive watched a lot of newer episodes before this one and you can see Caleb has grown into a much more vibrant youtube personality since then, i didnt hear the high pitched voice one time 🤣
All you need is pure intention and a bit of practice. The more you focus on what you want to manifest, the more likely it is to happen. Keep your mind open and be willing to receive whatever it is you’ve been dreaming of and it’s possible if you believe in yourself!! Thanks for the words..
My first investment with Shanita Creswell gave me profit of over $80,000 Us dollar...
I invested $10,100 with her and she made profit of $53,000 for me just in 5days
Naturally, there's a lot of math involved in forex trading. but this is often presented in forms of daunting technical charts, indicators, patterns.
I’ve grown so much in forex through the mentoring of Shanita Creswell
@@user-lc4yp8hb3r This is very correct and good
David is 90% of the show's guests in 30 years. I hope he doesn't have to live out his final decade(s) homeless or in low income senior housing. Best of luck David!
I agree….
Yes, this is a lifetime of spending every penny you have (and a few you don’t have). David is the ghost of Christmas future for a lot of Caleb’s guests.
He will be getting by on Social Security and nothing else. He's "one big deal" from getting it all back, but he's chasing deals that are money suckers. But don't feel bad for the person who dug their own hole and who refuses to drop the shovel.
You are totally right. I definitely see some guests in this exact same situation.
Don't put that on him, you take back that bad juju...
This guy helped me realize not all my Christian friends that sell Plexus and other pyra- I mean multi level marketing schemes aren’t necessarily deceiving, manipulative, hypocritical, etc… they might just be dumb.
🎯
The dumb ones are actively losing $$. You know you’re stupid when you think success it’s just one purchase away.
Yup.
I pray more Christians will follow God’s word and learn wisdom and discernment!
Ephesians 5:15-17 “Be very careful, then, how you live-not as unwise but as wise, making the most of every opportunity, because the days are evil. Therefore do not be foolish, but understand what the Lord’s will is.”
Not dumb. But they're often vulnerable and these schemes come for those vulnerabilities. A lot of these reps are being manipulated themselves.
Im almost halfway through and i dint think he's told the truth once.
I got so uncomfortable listening to him sales pitch to Caleb instead of discussing his finances at all. But the fact that Caleb didn’t even assess how much those tools are worth, the RV, or his cars, in order to get some rent and living money speaks volume. He’s not looking for advice and Caleb could see that
This is the first guy I’m actively rooting against. He is so dead set on his pyramid scheme that any profits he sees will be at the expense of others. You can tell by how he talks and how he spins that he is a trained salesman more than anything. I hope he goes back to working construction where he can at least add value through his work but I doubt he will.
When he said he could pull 15 lbs of weight off of someone in 8 days i lost my mind. That is an insane rate!! IF it was possible, it would be like losing 3x your normal calorie burn per day. This stuff is crazy
@@Apollo2112x1 lmao @ him virtually admitting that it's just a strong laxative.
Reminds me of a friend's husband. Always scheming 🙄
It's the sunk cost fallacy
He’s an easy read as much as he thinks and projects the opposite is occurring. I’m rooting against him as well honestly.
People who can BS this hard for 45 minutes without taking a breath are walking red flags I never trust them. His new “old lady” sounds like a high maintenance deadbeat and the pyramid scheme at the end is just sad. Basically sounds like a lifetime of horrible financial management and I don’t think Caleb can help him now.
He's probably better off filing for bankruptcy at this point if he's not gonna make any effort to do better
It’s possible/probable that the “high maintenance deadbeat” (aka working esthetician) is the only breadwinner in the family.
He’s waiting for that windfall for life to get better and makes a lot of excuses. He is a mess.
That was hard to watch. My heart beaks for this man who has experienced the loss of his wife and son. Caleb you were so kind and respectful to this man. I hope that he finds a path.
Calab is sooo patient!
He definitely came on this show to market his pyramid scheme and new business.
Hahahaa nailed it and guaranteed he drove off anyone listening
Yup 🤣🤣🤣
100%
Sadly not everyone there was one in the comment section arguing that a MLM isn’t a pyramid scam that just sell over priced items so they can barely make themselves legal.
@@Pulapaws yeah, but we all clowned on him...
I love the look on Caleb's face when he caught on that the guy is doing a pyramid scheme and doesn't really want help. High plains grifter.
About 41:35 when he starts telling Caleb he can get him to drop 15 pounds I was dying 😅 dude was really trying to make a sale!!
Oh man "high plains grifter"--that's impressive!! 😂
@suzybearheart530 when he said you wouldn’t be able to afford to (in regards to paying him back if it doesn’t work). I nearly lost it
Where is this guy today 😂.
I cannot believe Caleb did not let him recruit him under his pyramid scheme. The guy was selling it so well, much success! You poop everything out!
Caleb…omg he ended this episode acting like HE was hosting YOU. I feel like I just had my finger nails pulled out
A child…lose it and make another one?! You had me with the time thing but dude! Each child is irreplaceable to their parents.
yes that was a crazy comment by a unfortunatly a crazy guy.
I was looking for this comment
Was looking to see if anyone else was screaming over that comment. I don't even have kids but that comment made me sick. Tell me you didn't give a sh*t about your stepson. Wtf. What a disgusting mindset to have.
Agreed. That comment was sickening. As if a child is a replaceable object. A child is a human being, a person.
@Jen seriously. Like wtf. I can't imagine treating anyone in my life as replaceable like that. People aren't replaceable, period. Even more so a child to a parent.
Caleb went from 50k to 60k in a blink. Congrats man! So happy to see the channel growing!
Couldn’t do it without you!!
More like 10k to 50k! hehehe He's a genius!
For some reason UA-cam is pushing him 😮
@@chrisvig123 idk. He probably hits a niche.
Right it was stuck above 45k for a while then bam he’s at 65k wrf
Man oh man 🤦♀️ This was tough. He’s caught all the way up in this scheme.
lol Caleb talking about getting close to 100K subs a year ago and now close to a million - keep it up Caleb!
His attitude is the issue. Always excuses and reasons why he can’t do something. He’s his own worst enemy.
Yeah, a lot of comments on these videos are like “we need financial education!” and true, but if you won’t listen and won’t do…..education by itself doesn’t help. I think you could spend hours debunking the MLM he is in, and he would still believe the MLM sales pitch, because that is what he wants to be true.
He also seems tremendously immature for his age, and should understand by now that “dreams” are great for your spare time, but only after you get all the adulting done.
Everything “ had to happen”. He had zero options so he NEEDED to go into debt. He’s a master in bullshido
I love how respectful, assertive and composed Caleb is. Keeping a straight face must be hard sometimes!
yeah, especially when David casually mentions that if you lose a child you can make another one...🤬
42:45
As a passionate motocross fan and dirt bike rider, this was a fun and interesting watch. I hope this guy improved his situation. He really looks up to his son.
Loved the case study and have seen this kind of thing before . Anyone almost can be well off with hard work and sacrifice, too many will do neither.
I grew with guys like this. They don’t accept any responsibility and always chasing pot of gold. Of course, they are always the best in their field, but broke. I feel for him because he can’t see it and he really believes what he’s saying
This, exactly. It’s sad. The guy isn’t dumb, but he’s not using his common sense. At this point, it would take a lot for him to change.
I got a friend like that.
Detached from reality, utterly self-deluded with lots of magical thinking.
Right. The fake cowboy act is so corny and over-compensating
All if his clients hate him for his mistakes, he said. They theoretically like him 4 months later, but I bet not.
This was probably one of the scariest episodes I’ve watched so far. He has no idea he’s in a pyramid scheme and he is running out of time to get it together.
"I know it sounds like a pyramid scheme, but I promise, the company said it's not. So it can't be."
Gotta be honest, this guy cannot be saved. One of those people you just cut your losses and give up on
He doesn't realise because his whole is a pyramid scheme.
He always has Social Security to look forward to.
@@deeprollingriver52 Yeah but he better file for bankruptcy asap
you were asking for 100k subscribers here. now asking for a million!! go you!
Caleb's face of elder respect was great!
Bless Caleb. Watching this man ramble his way through these answers was irking me but it was like watching a car crash. I had to know how this ended.
Poor David, I can totally understand the predicament he is in in an emotional rollercoaster. I really hope he does a follow up episode.
Absolutely
He's sweet but filled with excuses. Time to grow up and get practical. ( And we wonder why so many Americans become homeless).
@@8ofwands300 there are many, many reasons for homelessness.
@@cremebrulee4759 Yes and this guy is the poster child for one of them.
The debt that people get into when they get stuck in his kind of scheme is the self defeating prophecy that ends them up on the streets
A useful strategy when trying to show people in MLMs that the business plan is very unlikely to be successful to them is to do the calculation of how many steps on the pyramid it would take to include all the people in the united States, or the world. The number per tier grows exponentially so even with a modest number per tier the number of layers usually comes out in the mid-teens. It's super helpful in cutting off that, five and five and five and sometimes ten... Thinking.