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The Ramsey Show Highlights

I Lost Everything In Penny Stocks And Had To Move Back In With My Mom

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Business, Investing

4.5840 Ratings

🗓️ 24 March 2026

⏱️ 9 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today.

0:06.0

I'm 30 years old and I have made a few questionable investments that, you know, I spent most of my life saving up and getting ahead.

0:18.0

I saved $34,000 over college and my early adulthood. And long story

0:24.8

short, I ended up losing everything in penny stocks that someone I knew suggested me to. And

0:35.5

now I'm back at my mom's house with my wife and she's not too happy about it

0:41.7

and I'm just trying to do you lose your house and everything I was renting an apartment okay gotcha

0:49.7

how old are you not have a job I do I do I'm actually a manager at an In-N-N-Out. I don't know if you've ever been before, but... Oh, we just got one here. They just moved into the neighborhood. But the... The Flying Dutchman's great. Corporate offices across the street. But anyway, so the... Wait a minute, you were a manager in and out when all this was happening? No, so I actually worked at, I had a full red scholarship through college, and I worked at Wendy's and other like fast food joints, and I saved up a bunch of money.

1:21.7

$34,000.

1:23.9

Yes.

1:24.5

But you were not living on the $34,000 when you were doing all of this you were living on

1:28.8

your income were you not no that that was just my savings okay my point is this there's no

1:35.7

reason that you're at your mothers if you didn't lose your job you just lost your savings

1:39.9

yeah well the thing is i uh I have a bit of debt.

1:45.2

I have a few different cars and I don't have really enough money to afford any kind of like, you know, anything food related or going out to have fun.

2:00.8

And I kind of just figured, you know, the ultimate goal is to... anything food related or going out to have fun.

2:07.1

And I kind of just figured, you know, the ultimate goal is to escape the lower class.

2:11.0

And what I've read online is that you need to take a little bit of risk.

2:13.8

I think I went the wrong way about that. But my goal is to obviously.

2:15.3

I think you read about it in the wrong place.

2:18.3

If you read about financial stuff on TikTok, unless it's us, it sucks.

2:23.0

So, no, you didn't need to take a lot of risk.

2:25.2

So here's the thing, honey.

...

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