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Yahoo
an hour ago
- Business
- Yahoo
She Spent Years Paying Off $300,000 In Student Debt. Now That It's Gone, This Doctor Wants To Quit Her $190,000 Job
Kristina, a physician from Cedar Rapids, Iowa, called into 'The Ramsey Show' with a surprising dilemma. After spending four years paying off over $300,000 in student loans, she said she no longer wants to work full time. 'I feel crazy saying this,' she told hosts Dave Ramsey and John Delony. 'But I don't want to return to work.' Kristina, who just had her third child, explained that she's feeling burned out and wants to stay home with her kids. Her husband, who had been working part-time and caring for their other children, recently started a full-time job at a bank. He currently earns $56,000 a year, with the potential to reach $70,000 after training. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can If she were to return to work, she would earn around $190,000 annually. Quitting would mean a massive income drop, but Kristina said that part doesn't scare her. They would be able to make it on $70,000, she said, as their only debt is a $95,000 mortgage, and they have about $230,000 saved for retirement. When asked if she was fully done with medicine, Kristina said she wasn't sure. 'It's really hard to give my all to my husband and my children when I always have that stress on me,' she said. She already reached out to a few rural hospitals about possibly working one or two days a week in the future, when the baby is older. Trending: Maximize saving for your retirement and cut down on taxes: . Ramsey and Delony encouraged her to take a break but urged her not to completely walk away from the profession. 'You have paid such a price of commitment and diligence to become a doctor and then to pay off the $300,000,' Ramsey said. 'To go do nothing with it for the rest of your life seems extreme.' Delony pointed out that many physicians who step away often come back to the field in some form. Ramsey agreed and gave this advice to her: 'I would quit doing what you're doing so that you can be with your kids... I wouldn't work the hours you're working. I would not stay in the $190,000 position,' he said. 'But I would try to find some greatly reduced middle ground that you can stand on because I think you'll be happier.'Kristina seemed open to that. She said maintaining her medical license wouldn't be difficult and that she'd consider light telemedicine or rural clinic work. Ramsey noted that even part-time work could still result in significant income: 'You're going to make plenty of money... the natural result of that is going to be $100,000 a year probably.' The hosts praised Kristina and her husband for their financial discipline. 'Good for you guys,' Ramsey said. 'Very well done.' Read Next: Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article She Spent Years Paying Off $300,000 In Student Debt. Now That It's Gone, This Doctor Wants To Quit Her $190,000 Job originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
This week in 5 numbers: Nearly 2 in 3 workers plan to seek a second job
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. The majority of U.S. employers plan to change their benefits strategy in the next three years, and most say rising costs are behind the shift. Here's a look at those numbers and some of the others making headlines in the HR world. By the numbers 4 The number of years that passed before a former employee of financial advisor Dave Ramsey's company, The Lampo Group, was told she could proceed with religious discrimination claims against the firm, according to a U.S. District Court for the Middle District of Tennessee ruling. The case previously was dismissed by a federal judge. 5.7 The number of percentage points overall workers' job satisfaction increased — the greatest single-year gain recorded — in 2025, according to a report from The Conference Board. 46% The percentage of employees who say their boss only somewhat or rarely understands what they contribute, according to a report from The Predictive Index. 64% The percentage of workers who say they're likely to get a second job or start a side hustle in the next year to prop up their income, per a report from the American Staffing Association and The Harris Poll. 90% The percentage of U.S. employers surveyed who cited rising benefit costs as the top issue influencing their benefit strategies in 2025, according to a WTW report.
Yahoo
20 hours ago
- Business
- Yahoo
This Dave Ramsey Caller Is Spending Half His $78,000 Income On Legal Fees For Custody Battles With Two Women He Got Pregnant In College
A recent caller to 'The Ramsey Show' shared how ongoing custody disputes with two former partners are draining both his bank account and mental health. The man, Tanner, told hosts Jade Warshaw and Dave Ramsey that legal costs now consume half of every paycheck. 'It's kind of taken over half of every one of my paychecks,' he said. 'I'm trying to find the balance between trying to do what's right for my kids and be financially responsible at the same time.' Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to Tanner, now 30, had a son with his ex-wife when he was 22 and still in college. Later, he had a daughter with a girlfriend before graduating, who left during the pregnancy and hasn't allowed him to meet the child. Though Tanner had a 50/50 custody agreement for his son, he said he hasn't seen him in over a year. His ex-wife and the ex-girlfriend have since become friends and have made legal proceedings more difficult. 'I've never met my daughter... and my son I haven't seen in over a year,' he said. Warshaw asked if there were any legitimate reasons for the women to keep the children from him. Tanner said no, claiming he has no history of substance abuse or violence. He acknowledged that the second woman had made abuse allegations, which he denied. Trending: Maximize saving for your retirement and cut down on taxes: . Legal delays and complications have stretched the conflict for years. 'I filed something immediately... we showed up to a hearing in May of last year,' Tanner explained. 'It was 5:30 and the judge said, 'Y'all go home, we'll schedule for another date.'' To make matters worse, his attorney died last year. Ramsey came out swinging. He told Tanner the system had failed him, and his passive legal approach wasn't working. 'You need to get a lawyer that is much smarter and much meaner than the lawyer that you've had,' Ramsey said. 'It's way past time playing nice here.'He urged Tanner to go on the offensive: file multiple motions, pressure the courts, and create enough legal action to force progress. 'Sometimes the best defense is a good offense,' Ramsey said. 'I want an attorney who's filing like seven motions every morning just to piss everybody off, including the judge.' Ramsey acknowledged how overwhelming the situation had become. 'You're burning all your calories on these issues,' he said. 'You're getting the runaround rather than giving the runaround.' In closing, Ramsey gave Tanner two options: hire an aggressive attorney and fight hard, or walk away and face the consequences later. Either way, he warned, the legal system is unforgiving. 'It sucks and it will drain you dry,' Ramsey said. Read Next:Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article This Dave Ramsey Caller Is Spending Half His $78,000 Income On Legal Fees For Custody Battles With Two Women He Got Pregnant In College originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
30-Year-Old Dentist Doesn't Believe 25% Of 60-Year-Old Doctors Have Less Than $1M, Says 'Most Teachers Hit That Making 1/10th A Doc Salary'
A 30-year-old dentist sparked a fiery discussion on Reddit after questioning a widely shared statistic they saw on Instagram that claims one in four doctors over 60 has a net worth of less than $1 million. Posting on the popular r/whitecoatinvestor subreddit, the dentist pushed back on what they called a suspiciously high figure. 'I saw a post on Instagram that said a quarter of doctors in their 60s still have under 1 mil net worth. That just does not pass the sniff test,' the dentist wrote. 'Pretty much any MD that does a basic 401(k) match and does the classic 'buy too much house' will hit 1m easily.' Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to The dentist argued that even with minimal effort, a long medical career should result in substantial net worth. 'Even a moron usually takes the 401(k) match, and a moron buys too much house etc. But a moron will hit 1m if they only save 6% with the 401(k) match for 30 years.' They went even further, pointing out how the stat doesn't add up based on income levels alone: 'Most teachers easily hit that making 1/10th a doc salary.' Personal finance expert Dave Ramsey echoed a similar concern about doctors' financial habits, comparing them to actors and musicians. 'Medical doctors are about as notorious as people in the music business or the acting world for being stupid with money,' he said in a Facebook video. 'Only they add a level of arrogance to it because they're so freakin smart.' But commenters quickly filled in the gaps that the dentist might be missing. Trending: Maximize saving for your retirement and cut down on taxes: . Commenters shared story after story about how some doctors end up with less than $1 million by retirement. The most common culprit: divorce. 'Divorce is crazy. My buddy is paying three women alimony right now. In total it's north of 40k a month,' one person wrote. Another claimed, 'I had to pay my ex 5.5M.' Some pointed out that even highly paid doctors fall into the trap of overspending. 'I had one doctor who cleared $60k a month and he was spending $70k a month and had ZERO savings,' an accountant commented. Others mentioned delayed earnings and student debt. Many doctors start working in their 30s, which leaves less time for compounding. One commenter described an ear, nose and throat surgeon in his 50s still paying off student loans and unable to help his kid with college costs, despite over 20 years in practice. As one person summarized the issue: 'There are plenty of millionaire teachers and plenty of broke doctors. High-income profession doesn't guarantee anything.'Despite the flood of stories, the dentist wasn't ready to back down. 'I just don't see that as possible that 1/4 do that poorly,' they wrote. 'Millionaire by age 60 is not a flex,' they added. 'Docs need to have more like 5m to be patted on the back.' One retired dentist chimed in with a sobering take: 'Docs are the poor of the rich.' For the dentist, the financial fate of most doctors should be clear-cut: 'I think every single one of my classmates will hit 1m by 60 as long as they work their career till 60. Even the ones that are complete morons.' Read Next:Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 30-Year-Old Dentist Doesn't Believe 25% Of 60-Year-Old Doctors Have Less Than $1M, Says 'Most Teachers Hit That Making 1/10th A Doc Salary' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
2 days ago
- Business
- Miami Herald
Shark Tank's Kevin O'Leary sounds alarm on 401(k) growing problem
Many American workers understand that employer-sponsored 401(k)s are a practical and efficient way to build retirement savings, especially when employers offer matching contributions. With automatic payroll deductions, they allow workers to invest in their future without much effort. Kevin O'Leary, an entrepreneur and investor on ABC's "Shark Tank," emphasizes the importance of 401(k) plans and the financial discipline required to benefit from them. Don't miss the move: Subscribe to TheStreet's free daily newsletter However, O'Leary also issues a stark warning: Many Americans struggle to contribute meaningfully to their 401(k)s because they spend more than they earn. He describes the financial anxiety that accompanies the reality of people living paycheck to paycheck, burdened by debt, and clinging to unrealistic hopes of sudden wealth. In his words, they're "steeped in magical thinking about money," believing a lottery win or inheritance will solve everything. To break this cycle, O'Leary recommends a clear-eyed assessment of one's finances. He suggests calculating a "90-Day Number" - total income over three months minus total expenses. Related: Dave Ramsey sends strong message to Americans on Medicare If the result is positive, it is time to increase 401(k) contributions. If it is negative, that is a wake-up call to cut spending and budget smarter. Ultimately, O'Leary believes that 401(k) plans are essential, but only effective if individuals take control of their financial habits. He urges Americans to start making deliberate choices that prioritize long-term security over short-term gratification. In order to contribute a sufficient amount of one's income to 401(k) plans, it is of vital importance for Americans to stay away from credit card debt because interest payments hinder the ability to save and invest. According to the 2025 first-quarter Household Debt and Credit Report from the Federal Reserve Bank of New York, total U.S. household debt rose to $18.2 trillion. Credit card balances alone reached $1.18 trillion, representing an increase of more than 6% compared to the same period the previous year. O'Leary minces no words in his warning. "Spending too much is a disease. And credit card debt is a cancer," O'Leary wrote in his book "Cold Hard Truth on Men, Women and Money." "The first time you get a credit card bill and don't pay off the full balance, it's as if you've allowed the first financial cancer cell into your life," he added. "The compounding nature of those frightening interest rates is a monstrous thing to behold." More on retirement: Dave Ramsey offers urgent thoughts about MedicareJean Chatzky shares major statement on Social SecurityTony Robbins has blunt words on IRAs, 401(k)s O'Leary argues that credit card companies often justify their high interest rates as a safeguard against fraud or defaults, but in reality, these rates are a core part of their profit model. He believes the real earnings come from the large segment of consumers who carry a balance month to month and struggle to pay it off entirely. To O'Leary, this business strategy is incredibly lucrative - companies earning an average 16 percent return are sitting on a financial gold mine. He underscores that if an individual investor saw returns like that consistently, they would go to great lengths to defend it. In his view, credit card companies do exactly that - protecting and nurturing this high-yield system by keeping credit easy to obtain and encouraging spending behaviors that trap consumers in cycles of debt. It's not accidental. And that's the danger he wants people to wake up to. Related: Jean Chatzky sends strong message to Americans on Social Security Social Security monthly paychecks are not enough to live comfortably on in retirement, so investing in 401(k) plans is a major strategy to live a satisfying life after one's working days are over. O'Leary believes that the profit incentive for credit card companies does great harm. That significantly applies to people striving to boost their 401(k) plan values. Credit is widely available by design, O'Leary explains, pulling in overspenders into deep debt cycles where compounding interest outpaces any realistic financial return, trapping them indefinitely. He makes an analogy to bring the point home. "The real tragedy, if not the real crime, of personal overspending is that any bartender is legally bound to cut off a dangerously drunk person. But you won't see that happening in a store," O'Leary wrote. "No cashiers at Neiman Marcus or Saks are going to place their hand over your credit card and suggest you don't really need three pairs of skinny jeans, that one pair will suffice," he added. "Nope. They'll congratulate you on your 'finds' and reinforce the fact that you 'deserve to splurge.'" Related: Tony Robbins sends strong message to Americans on 401(k)s, IRAs The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
