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The Ramsey Show Highlights

I'm $1.8M In Debt With No Job

The Ramsey Show Highlights

Ramsey Network

Investing, Self-improvement, Education, Business

4.5840 Ratings

🗓️ 19 August 2025

⏱️ 8 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.

0:06.7

Unfortunately, I found your stuff a little too late, and I have quite the financial mess.

0:13.0

Okay, tell me about it.

0:14.7

So I have four mortgages, a car loan, and one credit card. And I started listening to yourself.

0:23.0

I was working.

0:23.6

I was meeting my wife.

0:24.8

We were building an emergency fund.

0:26.5

And I have been trying to get rid of these rental properties for some time now.

0:30.8

And I've made some leaps and strides in the last few months.

0:34.2

And my question is pertain to the remainder of our money our savings are my wife is still

0:41.0

currently working and she brings in 130,000 I am not working I have been laid off for seven months

0:47.9

I have been looking tirelessly for work I had unemployment and I that had ran out. I recently have just signed up with Uber and I've been doing that, but compared to my previous income, it isn't too great.

1:03.1

What did you used to do?

1:05.0

130.

1:06.3

Oh, wow.

1:06.7

You used to make 130 doing what?

1:09.2

Credit risk, commercial real estate.

1:12.0

Okay. And why were you laid off?

1:15.3

$2 billion in default. A billion dollars of debt assets were sold off to another asset management firm, and the position was eliminated.

1:25.2

And given the current interest rate environment,

1:32.6

a lot of people are skittish to hire specifically for commercial real estate credit risk underwriting.

1:33.8

Wouldn't disagree with that.

...

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