Was It Worth Going Into $435,000 Of Debt For THIS Degree?
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- Опубліковано 11 вер 2024
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Imagine being almost a half a million dollars in debt and thinking it's a good time to pop out kid number 4. Amazing.
You'd think a "Dr" would know they have figured out what causes pregnancy
I know right!
Could just stop by any college dorm and take the free condoms usually out at the RA desk.
That half a million of debt was probably over his head before kid number 1, and he still decided to have 4 kids.
And wants to buy a house
This is sad. This young man racked up nearly half a million dollars in student loan debt. Is make only 100k and he's talking about going deeper into debt to buy a house. This mindset needs to change.
Cash Boy and have a 4th kid.
Americans love keeping up with everyone else smh
@@moe20000 lol nobody can't keep up with us. Good try buddy. Stay broke forever.
Exactly. I'll never understand this baby and house fever that everyone seems to be contracting
And they say college graduates earn over %300 more$ in lifetime and are smarter. This guy is not an exception but the majority. I heard student loans have to be paid back and are not forgivable loans as opposed to credit cards.
His wife was diagnosed with Stage III intestinal cancer a year ago. Now she's pregnant?? AND, they're $400K in debt? The medical bills will pile up quickly. The shovel is just not big enough.
Really irresponsible!
I felt stressed FOR them. Goodness gracious 😢
They are willingly making poor choices after she survived cancer so I just can’t sympathize much with them.
Medically and financially irresponsible
@@uhurtmeagen Absolutely! Irresponsible and selfish. They could not control her getting cancer, but they had complete control over her getting pregnant. If she is a survivor, then why would you challenge her already compromised body by attempting to bring another life into this world. Being a survivor does not mean "cancer free". It just means it didn't kill her. Stage III intestinal cancer can recur. All the possible outcomes (good or bad) will come with a huge price tag, and now they are actually considering going $400K in debt? Not very smart at all.
Dave: 🤨 who’s the doctor? Who’s the lawyer?
Justin: “I am, I am...”
Dave: 🙌🏼
Justin: “I’m a chiropractor 🤡”
Dave: 😐
It's literally always the chiropractors or physical therapist haha. I think when Dave ask this he's asking who's the medical doctor haha.
Dave, when you have me on the show, can you introduce me as Joker 🎭 🃏
Hahahahahahah 🤣🤣
Ah ..this is the meme one 😂😂
I expected him to say he had a doctorate in classical saxophone.
You can tell Dave doesn't even know what to tell this dude oh boy
That's because he's F'D.
cant fix stupid
I'd imagine dave wanted to curse him TF out 😜 but he's reminded that he has sponsors and all the chrixtian BS bible thumping audience listening 🤔🤔🤔
Vasectomy needs to go straight to the top of the budget.
lol
michael weyenberg when you cant afford condoms so you use balloons and rubber bands 😂
Facts!!
Lol!
I know right, it's 2020 not 1820, stop having kids for f sake
“Yes I’m a doctor..... I’m a chiropractor”😂😂😂😂😂😂😂 Goooooood lord
Matt lol my sister in law is a chiropractor so I can appreciate your comment
I’ve been working on my southern: bless his heart.
Did I say that right?
As far as I know they are not doctors
I consider them doctors if they know what they are doing. What do you really want? Someone who prescribes pills and cuts your body up or someone who can adjust you and fix your problem for a good while? I think they deserve more respect. And no I'm not one lol nor is anyone in my family. I just have always felt this way.
OMGGGG I wish he said that famous line!!!
Feeling really good about my 2 years at community college and 0 debt.
Galaxy Star same here
You both SHOULD! 👏👍.
I went to community college but now I have to worry about possible loans for my bachelor's and masters 😬
I also went to community college and paid out of pocket. I got really good grades and got scholarships when I transferred to a university I only took out 5k a year for two years for my bachelors.
@@Daniel-dl6cu your career goals had better be worth it
460k in debt AND FOUR KIDS?!? Are you kidding me dude?
It must have been gods will.
don't worry. he's a doctor.
@YexaC what's the pun?
460k is OK if it's secured by your 460k house.
Why keep having kids... I dont understand this mindset
Apparently birth control was not gone over in chiropractor school.
It's like asking why Marry a person with $100k in debt and don't work, or why be $1million in debt at 21 like another caller or why date a guy with 3 baby mothers and owe Child Support in the amount of $58,000. All these people thought what they were doing was ok until a point. A lot of stuff we all do are not ok but we think they are also. A lot of ways we think are not right either. They called Dave for his honest position and opinion on the matter. So they thought it was ok to keep having children. Technically they aren't wrong. it's not like you pop out a baby and now your expenses triple, it's marginal. The problem is that they will have to get reeeeeallly tight on food and clothing and he's not going to be able to pay back half a million for about 10 years at beast like Dave said. To add God forbid his wife's cancer comes back, I'd be crapping bricks at this point as a Husband.
Didn’t have money for condoms
Catholic?
@@byronbranch4645 A silly reason to keep reproducing when you're broke.
The look on Dave's face when he said he was a chiropractor 😂😂😂😂
It's been three years and it's still as funny. He literally looks like he's in pain.🤣🤣🤣
Hahahahahaha
My chiro always introduces himself to everyone as a Dr. If you haven't been to med school I don't buy it😂
He’s a doctor of chiropractic. Dentists are doctors of dental medicine. Podiatrists are doctors of the foot. Medical doctors are doctors of allopathic medicine. It’s not hard to understand.
Ya because dude paid way too much for his doctor of chiropractic degree.
I’m shocked lol I’m making 215k as a software engineer and only had 20k in school debt lol some people don’t think
_"Help! Somebody help! Anyone here is a doctor??"_
_"Well, I have a doctoral amount of student loan debt . . ."_
Lol...right
😂😂😂
I laughed more than I should have lol
My God from a comedic stand point.. this was genius
😂
That dead silence had me dead 💀
Dude did a whole system reboot
It was an answer he didn’t want to hear, but he heard it anyway.
She's "cooking" baby #4. Do children like rice and beans??
Put the rascals delivering pizzas
I hope they like water and bread cause that’s what they’ll be eating for a while lol
😂
The Democrats will forgive his loans
At this point, it's air and water🤦🏾♀️
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
Thanks for the efforts you put in these. I found her and i leave her a message i await a response
@@John-bd9fj4435message for whom?
@@paleo704 I think it's a bot possibly. Probably replying to a comment saying "oh I trust so and so to do my finances" and then if you go to look up the person it's just a scam site, scam person, etc. You'll get scammed if you call and interact with them
He has ruined his life financially. This will impact him measurably until the day he dies in 60 years. This debt for a chiropractic career is atrocious.
I dont get this thinking. If he works for 30 years he will make at least 3 million dollars.
He just needs to live like a middle class American for 3 years and he will be fine.
Jose Martin what is 3 years gonna do for him lol
He still doesn't get....thinking of buying a home and a 4th kid🙃🙃🙃
@@righand i dont know how how i typed 3 but i mean 10.
Chiropractors in my area do very well. He can dig himself out of this.
Yo students really need to be taught how much their "dream job" will pay versus how much they are paying/going in debt for the degree. Like it's seriously a 10 minute Google search and will change their lives.
Stupid guidance counsolers tell kids to "follow their dreams" in today's schools. Instead they should say "chase opportunity"
@@jojachow I really don't want to be political but like as a junior how consoles just lure retarted kids to chase opportunity is hilarious. In my online class half the kids want to go to collage with $200,000+ debt in history majors. No one tells them what to do or they don't get any push back everyone has to carry there dead weight, all they can do is assignments and nothing in the real world. Then they complain about student debt as if collage is supposed to be free and you wonder why it's inflated in the first place. Kids just go to collage no matter what and I'll probably go there even though it's not worth it.
@@plneet3504 lol was that not taught in high school? I’m 15 and we already made an estimate of how expensive it is vs our expected income n stuff
Theres alot of people that simply ignore that kind of stuff (facepalm)
yo mtv raps! lol
I wouldn’t be able to sleep at night if I had that much debt 😬
I hope everything works out for them though.
Id probably drop out of society and become a janitor under a different name.
Roscoe ElCocko Or just move to a different country 😂
@@vanessalynn4064 or that haha
I know. Just reading the title made my heart sink & literally made me a lil nauseous.
I wouldn't sleep. I would be pacing back and forth all night.
$435k in debt to make $100k/yr. I feel bad for this guy
Imagine making 100k debt free
You do know this guy followed his passion and can still pay off all his debt right?
Betty Swallsack 72K a year and living in an apartment while having his wife work together to battle the debt.
Mike good job you followed your passion. Now, doc needs to save his money. Hopefully, he paid attention in medicine to create a fantastic new medicine that can easily more more bank. I know that if clinical trials for a new medicine comes out and it works the pay out can be 100- 1000 dollars a pop and even more since GNC and small pharmacy/ stores sell things to their consumer at low to high pricing; therefore, if any medical professional comes to mind I would shake that mans hand because one good medicine means it can save & make more money in the end because you need stuff to get better and at the mercy of a sickness you will always need a doc and he will never be out a job. I can’t Imagine someone someone with a dual income as well as a getting a paid residency can’t pay down debt. I blame society because some people can’t control there spending with money coming in the bank like that.
Stupidity and selfishness are expensive.
"cooking number four"
almost dropped my phone.
He said his wife has student loans too, but is a stay-at-home Mom.
1. He needs to work extra hours or get a part time position or anything to earn more income.
2. She needs to find a way to work from home (home daycare?)
3. They need to drastically reduce spending. I would be willing to bet they have a car payment.
That is true but they also need a financial plan that they can stick to for the next 7 to 15 years. Would be terrible to go hard for 2 years get exhausted and slip back into old habits.
it's Powerball or bust for this family
As soon as he starts asking if it's okay to get a $250K house, I want to facepalm so hard. It sounded like he was maybe getting it until he said that. Good grief. The stuffitis urges are so strong with this.
This is the problem I have with Dave though, this dude can't rent a 1 bedroom apt over an old lady's garage with 6 people. He needs to rent a house. A 100k house would be the most efficient long term housing option over renting. People rent out their houses because they get a rate that's higher than the cost of ownership. That's the whole point of renting out a house.
@@joshmiller3673 That is an extremely rare situation to come by unless you're out in the boonies. I didn't pick up on where he is in Colorado, but if it's Denver, I'm thinking that his work/life situation puts him squarely out of that price range on a house.
@@joshmiller3673 100k house? Where do you live???
That doesn't even get you a parcel of land where I am from.
Chriropractors need volume to survive. And he doesnt have his own practice so he has to live near or in a city.
They are plenty of peope with 4 kids living on 60K a year. That's what he needs to do. It wont be fun, but after 10 years he wil be on his way to wealth accumulation.
@@josemartin598 Central Indiana. Most places that aren't major metro areas are actually pretty affordable.
@@joshmiller3673 yes we all know that. Do you think a chiropractor can make a living in your town? Especially if he is an employee instead of an owner??
Dave always leaves out INCOME TAX in his calcs. $110k income in Tennessee = $84,000 take home. This loan at 5% over 10 years is $55,400/yr. That leaves $29k per year to live on including housing and everything else. These kids are in a terrible situation.
You mean federal income tax
That’s why there is birth control available
It also leaves out the interest on the student loan. He needs to pay basically $20k per year just to keep the balance from increasing.
Dave usually assumes that the person is talking about take home pay.
@@lionelhuts875 Interest on 435K is at least 2 grand a month. So even if somehow he paid 3 grand a month only 1K would go on principle. Dude is absolutely screwed.
Took him 3 months to pay off $1800 in CC Debt, I don't think he's going to pay off $460,000 in even 10 years. Prime example of an individual who will be paying his ENTIRE life of earnings towards his student loans!
He said that sooo confidently
It reminds me of that stans dad playing wheel of fortune. Saying the N word.
The flexx was strong in the beginning of the call!
I love how you don’t even have to specify which words. Like “I am. I’m a chiropractor.” 😂
During the whole call Dave is holding back from saying "You got scammed! Chiropractic is a fraud!"
Ehhh, fraud is a bit extreme lol, plenty of good chiropractors who make decent money and do good work.
It's not a fraud. I have a chiropractor that fixes my back when it goes bad. That said, there are cheaper schools!!
Dave is very shy about that kind of judgment. He won't even say that MLMs are a scam.
Basically
It's more a supply and demand thing. There are too many chiropracters, then they don't earn as much. That's why you don't want to be a dentist in Utah.
I don't know all the things they teach in chiropractic school, but I guess birth control is not one of the topics.
Babyshaq569 how many kids they have is their business. If they want ten more, that is their business and we should not judge
@@juliennetully4814 If you don't want other people getting into your business, it's probably not a good idea to call into a national radio show to discuss the details of your personal financial situation!
Eric Blair thank you! Amazing how ppl get defensive about commentary when this man called in, in the first place asking for an opinion/ advice.
@@juliennetully4814 but it'll end up being our business because we have to pay for those children that they can't afford. When it comes to food stamps, taxpayer-subsidized daycare, and school. She's going to be dead soon because intestinal cancer is no joke. Then what? 10 kids on a hundred thousand?
@@juliennetully4814 Agreed. Children are a gift from God.
"Who's the doctor"
" Me, I sat in a biology class my freshman year of undergraduate school"
I am. I am. 😂
YOU are an ignorant idiot
@@sunset6010 alliteration!
best.comment.ever
I owe 19k and feel like that is a mountain.
But at least you get to see the top of your mountain.
@@Cassie00111 I know. I am just in baby step 2 blues😄
dancinglargies cw Guessing you make less than 100k
@@mustafawali4488 that is correct. 92. Wife stays home.
dancinglargies cw 92 is plenty to knock that out in no time. Rice and beans, beans and rice. 😉Good luck to you sir.
seems teaching chiropractors is a good business....to go into
you'll have to be a chiropractor first
Dave because of you on this day I have paid all my debt.I just ran anet worth and I was shocked and saw 350000.Thanks again Dave
😞 10 years paying that debt. I'll pray for them
Me too
@JNightlife He should rent like Dave recommends, but I don't know how cheaply they can rent with four kids.
@@lovethemflowers
Getting a three bedroom house for $600-900 a month would probably be his best option tbh
That moment when Dave Ramsey can't even help you.
@JNightlife at this point, he might as well buy a house. It doesn't make any sense for them to rent for 10 years. Just save up an emergency fund and a down payment, pay the minimum on the student loans, and by the house for your FOUR children. Buy a house with a basement or a large enough area so your wife can open a daycare center at home and take care of an additional three or four kids. She should be able to generate at least $3,000 in income from doing that.
“Who’s the doctor?”
“I am! I still use the toy stethoscope my mom gave me when I was 4!”
LOL!
Brandon Hunter penn state is garbage
Dang. I make close to what he does, about $85k, and spent $40k on a bachelors degree. We’re debt free except our house. We feel pretty free. Hope he gets there one day.
I never would have believed “We’re going to be friends for a long time” could sound so ominous...
The student loan crisis is part of a larger problem, addiction to debt in all forms.
If you're a decent person, you'd donate this young man a huge supply of rice and beans.
It’s not a crisis if you agree to it though. It becomes a choice 🤷🏼♂️
The math behind the knowledge of what you're getting into with any student loan should not be above anyone that has graduated high school.
@Mister Donkey Yes in most cases obesity is a choice. If you have a gland issue that's different. But if you're just lazy and greedy that's your fault
That is good advice. I am a doctor and I am $470K in debt, but my income is almost triple that of the caller, similar to that of most physicians. Dave is 100% right that the MD ROI is far better.
Did you ever get out of debt, Dr. Jiggy Joe?
@@BitterComments not yet. Still another year and a half for public service loan forgiveness. The federal protections are too good for public loans with no payments or interest accrual for the past 3 years. But it's not fun to rely on such things, so for my kids I'll superfund a 529 at birth so that they will be set and not reliant on federal relief programs.
you out yet? just asking for curiosity's sake@@jiggyjoeandrufusthedoggy857
At 4:18 I thought the “doctor” hung up on Dave.
😂
He had an emergency patient who needed their knuckles cracked. he had to go. Lol
He probably had a heart attack 😂
Me too 😆
What a harsh situation! Wow.
$350,000 to become a chiropractor lol!
DR - "Who's the doctor?"
Caller (with excited voice) - "I am! I'm a chiropractor"
DR and the rest of us - :| ?!?!?
These clips make me feel like I am not doing so bad after all. I am single and making just short of six figures a year with minor (10k) student loan debt. I cannot imagine raising a family in today's environment... good luck folks.
10 years of rice and beans? I think I would look into what my life insurance is offering.
No rice
No beans
No point.
or move to another country lol
Liz He Sallie Mae can follow you there too dude. Mail can cross borders.
This is INSANITY! What was he thinking?? My wife is a REAL doctor (you know, MD) and we came out of med school with under 190k. This poor soul.
And that is still crazy. What was her staring salary?
190k is RIDICULOUS, and nowhere near something to sneeze at...after residency and first year making a decent salary the interest will make it over 200k, yikes.
It’s the reality of becoming a physician though. 190k is pretty good, and they should be feel lucky. I project 250k at the moment given my life circumstances. You can’t choose what school selects you and whether you will get that scholarship, but you can do everything you can to knock the debt lower before you are an attending physician. After that, it’s game time. I plan on being a neurologist (average income is about 270k), so paying off my debt in 3-5 years is VERY reasonable even with the accrued interest especially if I get a good sign on bonus.
@@foofighter0724 Goodbye social life and personal time lol
And .... he was going to go into MORE DEBT by buying a house !
Wow
Sun Set good luck getting a approved for a loan with that much debt
@@joesillamanrs7189 Good point, who WOULD approve a home loan?
And having another kid 😑
Not sure who in their right mind would loan this guy a dime.
Hopefully he bought a house. He'd have 40-50k in equity by now. Consumer debt is substantially different than a mortgage.
Justin: "so we have 3 kids and she is actually cooking number 4"
Dave: 😐 - the look on his face is priceless
It's awesome your wife beat cancer.🙏🏾
It will probably be harder to beat this debt than cancer.
Who knows the answer to this before watching 🤔
The answer is rice and beans!
Cash Boy 😂🤣😆
Investing Hustler lol
Death
I'm also a doctor, i practice shamanism.
Icy Ama Basically the same thing as a chiro. 🤷🏼♂️
@Brian Waller Thats about all they're good for most of the time, really.
I can’t imagine that amount of debt it seems so scary and stressful
To say the least.
People keep warning me that my oil field job could go away at any time.... Maybe but I didn't spend half a million to make my 6 figure income.
No offense but a “chiropractor” is not a real doctor lol. Also I’m in medical school and my debt is similar, but I’ll be able to make double if not triple what the top chiropractor make, so the debt is at least more justified.
Yea hopefully ya sure bout that
His debt is fine for a surgeon income. Even a GP it’s insane.
They are doctors but not medical ones obviously.
Debt is not ok. At least the caller is done with school. I remember that one call where the caller did not pass his boards, twice 😯 and had 400 thousand in debt with less than 50 in income
Angelika Lirgendwas definitely not ok, and if I could go back I’d probably take a different route to medical school, but a lot of are young and don’t know what we’re getting into until it’s too late lol. But I remember that call, it’s my worst nightmare, thankfully I’ve passed all my boards, set to graduate in may lol
Daves face at 1:30 - PRICELESS!!!!
Yeah, felt physically ill listening to this one and not even my problem..... that's a DEEP hole. They have my prayers but I'm glad Dave pointed out that this is an example of what NOT to do...
He's a chiropractor, but with his cost of living and debt is like making minimum wage.
4 children, 460 thousand in debt.
Beans and rice, low cost living (rent etc.
You can do this,it'll be hard but if you've determination, you can do it..
We need more comments like this on here!
Time to cut down lifestyle completely. Live in a run down shack somewhere to save money. Never buy anything except food like rice and noodles. Sell all cars and ride a bicycle everywhere. Time to get intense.
John Bobbitt I agree with you. I would do this, but I fear many people can’t/won’t do this... ever.
I'm sure he'll get right on that lol.
Well, at least he'll stay in shape with all that bike riding 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
I feel super lucky that I discovered Dave's work a couple of years when I was about to embark on 2 stupid decisions that would've bankrupted it me by now.
All did was googling pros and cons of leasing a car! Then the UA-cam algorithm introduced me to this channel and I've adopted %90 of his principles ever since. I know it's all common sense but sometimes the patterns around you brain wash you to normalize a very short term thinking life.
_"Who's the doctor?"_
_"I am. I like horses. And veterinarians take care of horses. And they are kind of doctors. Right?"_
At least when someone is veterinary doc they know how to fix their patients 😂 not make them sicker 🤔
@@agiagiagi6553 Eh, there are some good chiropractors and bad chiropractors, just like good doctors/bad doctors.
@@intimacy2138 I'm not saying that doctors of medicine are bad. They are good with what they were trained for 🤔 I trust them if I have to but still question things before I apply😂 I admire surgeons though and I think their work is awesome 👍
"I am...I am...I once flew over a hospital in an airplane. I'm also an aeronautical engineer."
Vet school is just as bad or worse 200k plus and not much over 100k to make
Just imagine that $435,000 invested in a business 🤔
@Brandon De Oca at an 1/8 of the price...lol
You are everywhere dude
Where would you get the $435,000 to start your business?
Entertainment Inc where do you get $430,000 to be a f-ing chiropractor!!!!
I needed only 80k with my dad to start a sweet waffle Shop and I make 200k a year from it
This is the best comment section of any Ramsey video ever.
Did he just say “cooking number four”?! 🤦🏻♀️
😂😂😂🤣
yup, shows what he things of Motherhood and children.
There is literally no hope for this situation. Even filing for bankruptcy won’t get rid of the student loan debt. I don’t even know what to say, people really need to learn to think before they make decisions.
As a wise man once said, “Stupid is as stupid does.”
Forest Gump! For the win
😂😂😂
An unwise man may have told his wife, “ Don’t worry, honey. We can live off of my student loans until I graduate from chiropractic school !”
That’s my man Forest!
Dave: Who's the doctor or lawyer?
Justin: I am, I am. I'm a Chiropractor.
Dave: No, who's the REAL doctor or lawyer?
Jason K spot on 😂
I am a lawyer, but you see, I didnt spend a dime on law school, as I got someone to hack into to Harvard and register my degree. End up working for some dude name Harvey and turned his firm upside down, but that story is for another day.
Yea, and the "lawyer" is the wife... Shes a paralegal LOL
The comment section is pure comedy
It is entertaining lol.
That's why I'm here😁
It’s the first time that I See David raise his eyebrows when the dude said “my wife is cooking kid #4” instead of saying “hurray or yay good for you!!!!!” 😂😂😂😂
GOAT
Dave: "Are you running any light bulbs in the house right now? Quick, turn them off... and sell the car."
2 bedroom apartment with bunk beds. Don't buy a house.
2 bedroom apartment with 6 people for 6 years lol
More like a tent
Ed Kennedy What about buying a cheap house? I see nothing wrong with that? I am in significant debt, but I still plan on buying a decent house. I even had a loan approved. Debt should not stop people from buying a house. People who are in debt should not have to suffer. Yes, they need to pay back, but they should still have a little luxury
@@juliennetully4814 okay, I do agree that they should buy a house. But not because it is a luxury. They need to buy a house because it's ridiculous for them to spend the next ten years throwing away rent money.
@@ineedhoez exactly... Not enough people saying this
"Desperate need of income not expenses" that just sounded sooooo right! Being in debt for 10 years already sounds depressing.
I love my friends, but when one told me that her adult child just got her master's in "dance as physical therapy," from an expensive out of state school, I almost blew chunks!💃🤮 Yes...there is such a thing, apparently. Bless her heart. Hope it all works out.
j juniper and our government will backstop the loan on this ridiculous degree.
My degree in Lesbian Dance Theory has not paid off much either :-(
@@bobgunner3086 Only one thing to do: Get a doctorate in it. Double down!
@@patty109109 that's it! Not enough degree .. this is going to pay off BIG TIME baby.
I have a degree In Crumpets Holes Analysis from a prestigious school
Why would he pay that much for chiropractic school? Unreal. 🙃 3 kids and expecting a 4th? Is this guy for real? 😂
Career students often don't think about the cost until after the fact. Chiropractor school is still a form of professional school, meaning he studied for most of his life to get to this point, still.
His wife is "cooking" baby number 4? Who talks like that?
Me
Me, I’m the cooker
Yeah that was a weird way of saying it.
A chiropractor
He straight said I'm the doctor and drops the " I'm a chiropractor " 😂😂🤣
Once I heard "I'm a chiropractor" I literally gasped and facepalmed infront of all my co-workers...
Sage N Rage What is with all of the negative comments about chiropractors? Do they really make nothing? What is the average salary??
@@juliennetully4814 It's because they are not "Doctors" in the sense of what an MD (or DO) can do...or make. There is a strong association with quackery. To be honest, if they stay strictly within the scope of their credentials, they are physical therapists who can write an rx. Few do, however, and that's how their reputation has been earned. So...in a nutshell...think of a physical therapist spending $400K on their degree 🙄🤦♀️
You know your situation is Bad when Dave uses you as an example of what not to do!!
Ramsey was super close to say “Dude you are not a doctor”
Too much school debt and too many mouths to feed. Might see a chiropractor delivering pizzas part time pretty soon..
He should have been a surgeon wih that debt. There is more to this story.
There always is lol
Not really. The story explains everything.
I think its scary that people dont realize school is a business and that they want your money but dont guarantee anything except a diploma. We gotta teach the next wave to get degrees that can pay for themselves.
It's like being a doctor, except you don't have to be smart.
450,000, 3 kids and one on the way.......
*speechless*
Why in the world do people keep having children when they know they have so much debt? I just don't get it.
Dave would never say this.
@@Michael-ke8on But he was thinking it. He kept saying 4 kids.
Because it is a "blessing"
perotal getting the chance to live is pretty cool, its nice to do that for somebody else.
Dave never asks folks why they keep having kids when they’re poor. I wish he would!
I’m pretty sure it’s because of his Christian faith.
But I think it’s wrong to keep having kids if you can’t really afford them.
AGREED! Stop having kids if you can't take care of yourself!
I couldn't hear over the crunch of my dollar store chips.....
lol
The cost of university in the US never fails to absolutely blow my mind. 350k to become a chiropractor?!
People borrow extra to live large while in college. Their main goal it to avoid getting a job for as long as possible.
This might be one of the worst cases i’ve heard.. just a jaw dropping amount to be in debt
KEEP DOING THE THINGS YOU LIKE TO DO DAVE ✅💸✅📈✅💯✅
This is an example of why there should be a limit on how much a student can borrow in student loans. Personally, I think a limit as to how much a person can borrow should be the equivalent of what that person is expected to make for that particular field straight out of school. In this guy's case, since the chiropractor's salary is roughly 100k, he should have been allowed to only borrow up to 100k.
I cringe every time a person says they're a doctor and have huge student loans and Dave asks them what type of doctor they are. I'm like, please be a brain surgeon, please be a brain surgeon. LOL!!
He said chiropractor not a doctor, one scam people with back massage the other scam people by getting with them high on drugs
Mom better open up s babysitting from home business to bring some income in.
Bingo.
She can't, remember she has the fake cancer....diagnosed by a chiropractor?
1:00 That's a real life Dunder Mifflin Micheal Scott Moment.
He sounded so optimistic until he said, chiropractor... People need to understand that a doctor is not synonymous with a physician. You can be a doctor in anything, nowadays and not get paid squat. For all the money of these professional health schools, you better make sure you're going into a field that makes that fancy degree count.
How can a degree cost half a million
and who the F is giving these tools this kind of $
Maybe he failed 5 semesters straight and they didn’t kick him out because they wanted his money.
People borrow living expenses. Even if tuition and fees are like 40000 a year, that would mean he was in school for 10 years.
Had respect for the guy until he said his cancer-surviving wife is PG with kid #4. That just sounds really irresponsible. It's tough fighting cancer, drains your energy, and can come back.
_"Who's the doctor?"_
_"Me. I drove once in front of medical school once while getting my degree in cinema studies."_
LOL, every time . . . people are so desperate to call themselves doctors they'd sell their mom if it helped. 😂
I was thinking the same thing 🤣😭
Everybody wanna be a doctor but nobody wanna go to no medical school
Okay I’m not comparing med school to chiropractic school but I’ve been in class everyday from 8am to 6pm and most weekends working constantly for 3 years in chiro school. Comments like these are ignorant
The basic estimated math of this situation:
At best: $115,000 income
Uncle Sam takes: 1/4 to tax = $28,750 (In reality this would likely be more)
So that leaves us now with: $86,250 take home pay.
Assuming the average Interest percent of the multiple loans which form the $435,000 debt is 5% and we do a 10 year payoff. We get $4613.85 cents a month.
If we divide the $86,250 between 12 months we can estimate the take home pay a month is $7,187.50.
$7187.50 (Monthly Earnings) - $4613.85 (Student Loan Payment) = $2,573.65 remaining for a total of 6 people, rent, the car, power, water, phone service, food, medical, clothing, gas, and every other misc expense.
In summary: That's a tough situation.
If however he decides to pay this back over a 20 year period, the payment would be near half of the previous estimate which makes his living situation more tolerable but substantially increases the interest paid towards the life of the loans to about $253,993.79. If the high interest loans are targeted first this could drop it to $150-170,000 but regardless that's insane.
Most constructive comment on here.
That's why Dave's jaw dropped when he said chiropractor. He knew the guy was already at his income cap. Well at least he'll be doing what he loves. Pay it off over 20 years, do right by his kids, and live within those means. Whatever's left can be for his retirement and the kids will need scholarships/the decision making that their father needed. Not the end of the world. Shoot, if he can get the loan, why even throw away all that rent money. Might as well have a house at least in the end.
BIG wake up call for the guy.
I really don't love when people refer to being pregnant as "cooking" the baby
*GREAT VIDEO DAVE!* Man, the missing ingredient for kids entering college is a BUSINESS PLAN! You should NOT be able to get $0.01 of student loans or grant money until you can talk about your BUSINESS PLAN. What is your degree going to be in, what job will you be pursuing as you get out of school. What will the payoff be when you get your job? IF college students thought about it from this perspective, maybe there would be more value out of your degree! GREAT VIDEO! 😎😀
Average Joe on Money i didnt have one and paid all mine back. They just need to cap limits and begin to encourage community college as a prerequesite for four years.
This should be a PSA for all future students going into the field🎓🎓🎓💰💰💰
This is great advice. I started listening to Dave almost three years ago, it took me two years to pay off 40k in debt and a few months to save up my emergency fund. I am so glad I found Dave because it changed my life, I currently have no debt and even though I lost 50% of my income due to the pandemic, I am still able to make enough to pay rent and all my living expenses with out any struggle. I spent two years living on half my income, and it prepared me for this.
THANK YOU DAVE!!!
Im a chiropractor. I graduated with 120,000 not 435,000. Graduated in 2015. Not sure why this guy took out way more than I did. Also I went to school in the Bay area where cost of living would be more.
I'm thinking that he probably lived off the loans. Tuition and Fees are one thing. Taking out more Loans to live off of, instead of working, is a second thing. NOT recommended. Trying to work, while in School, is better.
However, with 3 Kids and a non working Cancer survivor Wife is tough.