I’ve Never Encountered This Before | Financial Audit

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▶Resources I use/would use (with discounts/sign-up bonuses):

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▶Other channels:

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▶Fun things:

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Chapters:

00:00 Job and income
04:11 Why are you absolutely F*cked?
06:15 Let’s dig!
11:23 Spoiler alert :rotating_light:
17:43 What does your wife think?
19:17 NetSuite
25:11 And he runs a Non-Profit… :grimacing:
30:13 He’s playing dumb
36:50 Acorns
41:49 “I’ll be dead before I pay that off” :skull:
47:00 This isn’t funny
50:25 Your daughter will take care of you:exclamation:
57:02 Why are you doing this?!
1:01:03 SoFi
1:09:18 He’s getting it
1:14:24 What to do :thinking_face:
1:20:00 Hammer Financial Score

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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.
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▶*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.

[mm-rlsd]

So many younger guests said “I’ll figure that out later”. This is later.

[callit]

Caleb, I would like to offer you a tip I learned when I trained to be a teacher - if you are asking a question and the person doesn't understand the question, repeating it will only lead to frustration for you, them, and in your case, the listeners. I have noticed that you ask many guests "what credit are you trying to take advantage of?" That a great question, but not a single guest has understood what that means due to their lack of financial literacy. You may get much better results if you say something like "Credit scores are mostly necessary for people applying for new credit. What new forms of credit are you planning to apply for?"

[rebeccaodegaard]

I want more like this where you tell someone the truth but you are not losing it. Also would love more adults 40+.

[teresaseina]

I am 47 years old. I am paying my parent's mortgage. They have zero in savings. It sucks. It really really sucks. Listening to this made my stomach hurt. Credit card debt. Living for today with no regard for the future. I do not understand that generation.They inherited wealth but, spent it all. I am mad and sad. I can not abandon them. It would make me live with crippling guilt, so I choose resentment I guess. His attitude makes me angry. "Am I suppose to just carry my lunch with me every where I go?" Yes. Yes you are. The ant and the grasshopper. I read it and got the message. He should too.

[kristyfletcher]

I love the idea of a Hammer credit card, and when you apply it just pops up with "You are not a credit card person" and no one ever actually gets one lol

[paulallen]

These older guests are ones we the viewers appreciate and learn the most from. They are living proof of exactly what can happen if you are reckless and uneducated when it comes to finances. I feel terrible for his situation but respect his bravery for sharing his struggles for our benefit.

[dragonsnack]

"Are we all just supposed to bring our lunches in a bag?"

I was raised with the complete opposite mindset. You always bring your own food to school, work, day off, road trip, etc. If you left the house you brought food. I was told that you cant expect others to feed you and if you forgot lunch you didnt eat until tou got back home. The first time i saw someone order food to be delivered for lunch my mind was blown.

[doriskurzz]

His brother was the ant who buckled down and invested for tomorrow and this guy was the grasshopper who only lived for today.

[woody]

Finally someone over 25, we need more mid to late aged people!!

[superiorstagg]

This one actually broke my heart. THIS is the future Caleb is constantly telling his younger guests they will have if they don't get their sh*t together! Thank you for being a guest on this show Ted. You've probably helped wake a lot of people up to their financial reality. Wishing you all the best luck in the future.

[stevena]

This guy has been a bum for nearly 50 years and is fine with it, but boy did he get defensive about the possibility that he raised one... the irony.

[mssdn]

I’m 6 years older than this man. At his age I could stand and work all day, I really couldn’t do it now. He is planning to work indefinitely but the reality can be very different

[Saffeyah]

Ted I’m actually more impressed that you’re open to come on the show in the first place. It’s never too late as long as you’re still breathing.

[anastasiadicoski]

This is by far the scariest and most impactful guest you've had on. This just shows you will not 'figure it out' later because later comes and nothing will change if your behaviour doesn't change.

[rynessk]

100% reminds me of my parents. Filed bankruptcy 3x and they just finished the last 7 yrs, credit cleared... and immediately bought 2 new cars. They'll never learn.

[daphnezuniga]

Ted, I hope you read this. As someone who was on the show.. please dont think its stupid to cry about it. I know the feeling of having it all laid out and realizing how much you have messed up. Especially having a child. You can do this! It wont be easy, trust me! Old habits are hard to break. The fact that you are upset about it shows how much you care. You have a beautiful heart and soul. Keep that shine and you'll make it out just fine. ❤ I completely believe in you.

[PetrMelankov]

This is the 'dying-on-the-Walmart-floor' scenario that Caleb is always talking about.

[davidramirez]

the guy : "..the guy who is not the norm, had to go off to art school and all that kinda stuff"
Caleb: "I went to art school"
the guy: "well s**t"
💀🤣

[brandonhanna]

“You’d have to bring her on the show and ask her that, BUDDY” killed me lmao

[rpenmark]

My 83 year old parents are the end result of what stupid spending does. They have zero assets, have $ 15K in online shopping bills and now must go to a sh**&% Medicaid nursing home due to their health. Trust me, you don't want to go that route. Those state Medicaid nursing homes are the worst of the worst. If you become widowed the State may assign a roommate. You have no choice in the matter. One option for Ted and his wife, sell everything and move to Mexico where they can live reasonably comfortably on their SS for half the money. Young people- take it seriously, it will happen to you and a hell of a lot sooner than you think. You can play in your 20s but by your 30s- you must have a plan.