Money Guy Show

Episode: Financial Advisors React To INSANE Dave Ramsey Calls!

Hosts: Brian Preston & Bo Hanson
Release Date: September 22, 2025

Brief Overview

In this episode, Brian Preston and Bo Hanson, along with their team of financial experts, react to some of the most jaw-dropping calls from the Dave Ramsey Show. They provide real-time analysis, practical advice, and insightful commentary on extreme financial scenarios, ranging from astonishing incomes to massive debt disasters. The tone is energetic, sometimes incredulous, and always honest—delivering clear financial strategies, critique, and empathy throughout.

Key Discussion Points & Insights

1. Unbelievable High Income – Car Payments vs. Cash (00:28–01:41)

• Caller Dave: Reports earning $320,000/month (over $3 million/year) at age 24, but has $3,200/month car payments on a Rolls Royce.
  • Brian Preston: “Are you pulling my leg?... That’s just insane. Congratulations. Listen, write a check and pay for the car and smile while you're driving it.” [01:04]
  • Expert Advice: If you buy a luxury car at that income, pay cash—never finance.
• Hosts’ Reaction: Amazement at the caller’s income; consensus that with such wealth, the standard car buying rules adjust, but cash remains king.

2. The Sovereign Citizen Case – Financial & Legal Disaster (01:45–04:04)

• Caller (Widow): Husband embraced “sovereign citizen” ideology, stopped paying taxes, mortgage, car loans, leading to over $500k in tax debt and repeat foreclosures.
  • Mary: “You’re in an unsafe situation.” [01:45]
  • Brian Preston: Expresses incredulity at the risk.
  • Experts: Emphasize the reality—refusing to pay taxes leads to severe legal consequences and financial ruin.
  • “You can't just make the decision that you're not going to pay your bills... [or] taxes... because they can literally come and take your stuff.” [03:28]
• Advice: Always pay your taxes and debts—even late, starting now can save future grief.

3. Young Saver: To Splurge or Invest? (04:04–06:06)

• Caller (24yo): Debt-free, makes $80k/year, maxes out retirement, wants to use $30k cash for a sports car as a second vehicle.
  • Brian Preston: Warns against viewing cars as investments: “Cars... go down in value like a rock.” [04:39]
  • Bo Hanson: Cautions against multiple cars at 24 unless major financial milestones (“step eight”) achieved.
  • Takeaway: Even with good saving habits, avoid overextending on depreciating assets unless your net worth and savings goals are met.

4. Wealth, Purpose, and the Void of “Enough” (06:06–08:23)

• Caller Dave (37): Debt-free, $1M+ net worth. Feels aimless and unfulfilled.
  • Dave: “It almost feels like I’m working for nothing... writing checks for charity... doesn’t always satisfy me.” [06:26, 06:49]
  • Brian Preston: “So you have discovered that money is not the answer to happiness.” [07:08]
  • Bo Hanson: Recalls Jim Carrey’s perspective: “Money is only a tool... you’ll find it’s much emptier than you recognize.” [07:14]
  • Expert Insight: “Before you set the financial goal, you ought to set the why behind the goal.” [07:43]
• Advice: Define the purpose behind your wealth—charity, experiences, freedom—before setting numeric goals.

5. Catching Up on Retirement—Is It Too Late? (08:23–10:34)

• Caller (Widow, 50): Zero retirement savings after supporting kids through college; asks where to start.
  • Brian Preston: “If you were to save, invest $1,000 a month for 15 years at 65, you're going to have right around a half a million dollars. It’s not enough, but it's enough to make sure you're not cold and hungry.” [08:43]
  • Experts: “It's never too late to impact tomorrow... starting at 50 still gives your money time to multiply.” [09:04]
  • Bo Hanson: Wants more detail to custom-tailor a plan but applauds initiative to start now.
  • Resource Tip: Use Money Guy’s “wealth multiplier” calculator for late starters.

6. Mountains of Debt—A Million Dollar Mess (10:34–13:43)

• Lisa (29): Household nearly $1 million in debt: $210k mortgage, $335k student loans, $136k credit cards, $44k personal loans, $35k car loan. Income: $230k.
  • Brian Preston: “Your lifestyle is considerably above your extremely good income and... you’ve gotten used to spending like you’re in Congress.” [12:01]
  • Action Plan: “You’re not going to spend any money on anything ever for the next three years.”
  • Bo Hanson: “Debt is chainsaw dangerous...” [12:58] Warns against combining massive consumer and student debt; commends confronting the problem now.

7. Do Only Poor People Use Debit Cards? (13:43–15:18)

• Topic: Misconceptions about credit card usage and credit building.
  • Brian Preston: “People get credit cards for mainly one reason. So they can buy crap they don't have the money to buy... It’s a dog chasing its tail. It’s called the great FICO Scam.” [13:52-14:17]
  • Bo Hanson: Cites his firm’s millionaire surveys: “Wealthy people do use credit cards… they don’t have credit card debt.” [14:28]
  • Expert: Clarifies credit cards are tools—rewards, protections—when used responsibly, but debt is dangerous.

8. Mortgages—15 vs 30 Years (15:18–16:58)

• Brian Preston: Advocates 15-year fixed, no more than 25% of take-home pay for housing. [15:22]
• Expert: Acknowledges modern realities—30-year often more feasible and flexible given high rates and costs: “I do love the idea of not having your mortgage payment be more than 25%... but I don’t know that it has to be 15 year.” [15:42]
• Bo Hanson: Personal anecdote about cash flow constraints with a 15-year mortgage.

Notable Quotes & Memorable Moments

• “Are you pulling my leg?... That’s just insane. Congratulations.”
  — Brian Preston, about the $320k/month income caller [01:04]

• “You can’t just make the decision that you’re not going to pay your bills... they can literally come and take your stuff.”
  — Financial Expert, on legal obligations [03:28]

• “Debt is chainsaw dangerous. And if you’re not scared when you’re using it, you’re probably using it wrong.”
  — Bo Hanson [12:58]

• “If you think that number is going to be what solves all your life’s issues, I think you’ll find it’s much emptier than you recognize.”
  — Bo Hanson, discussing financial purpose [07:14]

• “Before you set the financial goal, you ought to set the why behind the goal.”
  — Financial Expert [07:43]

• “It’s a dog chasing its tail. It’s called the great FICO Scam.”
  — Brian Preston, critiquing credit score obsession [14:17]

• “Wealthy people do use credit cards… they don’t have credit card debt.”
  — Bo Hanson [14:28]

• “The most you should borrow is a home on a 15 year fixed rate where the payment is no more than a fourth of your take home pay.”
  — Brian Preston [15:22]

Important Timestamps

• 00:28–01:41 — Mega-income & luxury car conundrum
• 01:45–04:04 — The sovereign citizen tax disaster
• 04:04–06:06 — Young saver debates second car vs. investing
• 06:06–08:23 — Fulfillment after reaching debt freedom
• 08:23–10:34 — Starting retirement savings later in life
• 10:34–13:43 — $1 million debt breakdown & tough advice
• 13:43–15:18 — Credit card myths and elite habits
• 15:18–16:58 — Mortgage term debate in today’s housing market

Finale & Takeaways

The episode delivers a rough-and-ready blend of cautionary tales and actionable advice—emphasizing foundational principles (like paying taxes, avoiding lifestyle creep, and prioritizing purpose over just money). Brian, Bo, and their experts debunk financial myths, highlight the dangers of mindless debt, and reinforce that while money is a tool, fulfillment and safety come from financial discipline, intention, and context.

For more resources, check out:

• MoneyGuy.com resources
• Use the "wealth multiplier" calculator if you’re a late saver.