My Husband Lost $150,000 Day Trading! 

Sell the husband

Dude very lucky his wife not filing for a divorce, she definitely gets respect for trying to fix a situation that was not even her fault 💯💯💯

3:46 Dr John has to realize everything is not a path of addiction, some are just dumb decisions and lack of better judgement ( or any judgement ). Talk about your feelings when $4,000+ a month interest isn't accruing. Like a house burning down: you get out NOT stay in the burning house looking for a cause. Glad Rachel is there.

If you make $250k a year after taxes, you can pay $150k off in a year and a half while living very comfortably.

You make 250k a year, what's there to be afraid about? You should feel blessed you're getting that amount of money for your household.

*reads title* **faints**

I would stop paying and then get bank to agree to a pay for delete which will come in months. U would pay 10% of that loan.

Everyone always says they're doing well... I know it's a pleasantry, but it still sounds weird in these instances.

Ramsey gets calls like this all the time and then turns around and says couples that want to keep their finances separate don’t have a real marriage.

If they have the equity in house downgrade to a smaller home

He listened to Mr. Brownstone one too many times..... It's time to eat cheese sandwiches and drive Chevettes..... That's alot of money and on top of that doing a Heloc is just one step closer to doubling down on the gambling addiction. Don't sign not a single document... I would be looking for a divorce lawyer myself!

He just wasn't doing it right.

It’s a lot worse than 150k. He just blew what would be 800-1m at 60-65. They sound young🫤🫤

It's not that he lost 150K, it the fact that he borrowed money to do it.

There's a really really fine line between day trading and gambling. Her husband definitely gambled that money away.

If she’s the one calling. That’s a bad sign. He’s just gonna do it again.

I always told my kids not to assume people with money are smart. They make 250k per year and it’s not enough for hubby. My advice: sell your mini mansion. Get a regular folk townhouse and pay this off in 15 months. Then you can go back to a mini mansion and hopefully hubby realizes how good he has it.

If he has toys he needs to sell them, he needs to feel the pain.

That's the reality of Day Trading. It's never as easy as its proclaimed to be.

They still need to address his gambling addiction!

Try night trading 🥁 I’m here all week

The first rule of investing is never invest which you cannot afford to lose. Also, NEVER invest on margin/debt. Invest free cash capital that you have not put to use. That way on downturns like this you can let it sit and it will come back.

The fact that he did this but she feels she has to fix it is a giant red flag. Hopefully it's only 150k sounds like it might be more that he is hiding.

Day trading is about controlling emotions and risk management. This guy wasn’t day trading, he was gambling

I’m 100% sure he’s posting about it on Wall Street bets

Husband needs to log out of all his accounts and phone apps. Get side jobs to keep him busy so he doesn't relapse.

Classic addiction situation. He is hiding due to shame. When she finds out, he only reveals certain things, not the whole story. Only little by little does she get the story. Again due to shame and probably fear. Been there.

Beginning..”how are you Kate?” “I’m doing great”

They seriously need to address why he did this and take actions to keep him from ever "relapsing." Otherwise, any other actions are futile.

I’m sick when I lose $50 in stocks

She is incredibly calm for him spending that amount of money on day trading.

He was lying to her and only when she demanded to know did he begin to tell her any of the truth of what he was doing with their marital assets. They need to try marriage counseling if HE sincerely WANTS to stop this but they both need to realize that this could be a symptom of a deeper problem that doesn't have an easy fix.

I'm a professional gambler and this is NUTS!

Jon said it right at the very end... "I'm sick to my stomach" I'm literally sick to my stomach think about this also. What a selfish thing to do to your family. Hopefully that will go get some help to get to the bottom of what her husband going threw.

There's more to this story. He has probably been gambling and more. Hubby needs to be on this phone call.

I'm glad Rachel is on the panel, she's probably the most level headed consistently even among all her peers Wow 100+ likes, glad to see so many agree with me on this.

Bringing home 15k a month after tax should be enough to make the 5k monthly payment if you budget right

And to this day people yell at me when I say..."Don't go into debt under any circumstances."

If I understood correctly they make 250K a year. No one mentioned buckling down and paying off the debt with the income you have.

The wife's solution is to buckle down and pay it all off. His solution will be to double down on the day trading.

This makes me grateful I learned my hard lesson in day trading much less expensively (about $4k) back in the 90s!

She said payment for her ? He needs to be the one who steps up first. Sad she is the one calling not him.

It’s gambling addiction ; he needs to get himself out of it - it’s one of the worst and fastest increasing addictions - he is going to do it again unless he goes to rock bottom

If you're trading with a large amount of money, you should know what you're doing in the first place instead of gambling. That takes constant time learning and putting the work in. Someone teach this man what a stop loss is lol. You also can't be greedy, take profits.

As bad as this is, you helping him is enabling.

Yikes - I don’t think Scumbag Steve is gonna be the type of guy that is gonna go out & get additional jobs. Sounds like he’s pretty into instant gratification…

I really trust the morals behind the Ramsey team. How easy it would be for desperate situations like this to say "Join Financial Peace University" it will transform your life, blah blah blah, instead Rachel humbly says "it will be on of the tools to help you" "it's not going to sort all this mess up but...". I really respect the Ramsey personalities. All the best for this couple.

A loss like that takes 50 years to write off. Big oof. He could've made a ton more money if he started a business doing something. At least he'd have something to show for it.

I couldn't stay married to someone after this, it's just too much of a trust breech for me. Very sad situation.

I wonder if the guy who lost it posts on wallstreetbets

He needs to get into rehab for gambling. Just like drugs, alcohol, and pain meds, gambling can be just as addictive.

Very good advice. They protected her. That man could very well, after she takes the loan, leave her.

Rachel is a very sharp cookie...cudos 👌

How are they ever going to put food on the table making 250K/year? It baffles the mind... The very definition of dumb money.

worst decision in my life was day trading ,

My heart hurts for her. I'm not sure I could stay in my marriage if that happened. Trust is everything and that's going to be a hard road to travel.

To me, there are so many horrible things that happened here. It’s hard to count them all. First is this husbands lack of awareness or caring or concern about his family that he would gamble this money away in daytrading. Second is even worse. This wasn’t money they had in the bank. This was money that he borrowed, which is insane. And lastly, is this poor woman who is stuck trying to figure out how to fix it.

What would John say to a husband that called in because the wife make the same huge mistake? Rachel gives consistent advice, John likes to coddle females.

They make a lot of money; I don't think they are worrying about putting food on the table.

GME AMC BBBY has really gotten a lot of bag holders. Cut it out with the meme stocks and your life savings. Wanna throw a grand in a meme stock fine but this is crazy.

He forgot about the stop loss

She lucky Dave wasn't there😂 ! He would say you're meals are gonna be rice and beans

Most Day Traders, Commodities Options and "Professional Gamblers" lose money. The Casinos or Stock Brokers make the money. It is not an event, it is a process. That takes time and secrecy. That person is a danger to themselves and others.

Whoops. He could’ve gotten rich slow with 150k. Tough for her.

It is really interesting that they don't seem able to provide concrete financial advice without Dave being physically present.

The husband should continue day trading. A few big wins and bam! they're out of this mess.

That man is not allowed to TOUCH money until the issues that got him there are addressed

Well, let me stop crying about the $100 I lost✨

I have a cousin in almost an IDENTICAL situation except he lost $85k not $150k. It's really hard to watch especially because he thinks he's the Wolf of Wall Street. He took on a second job just to pay his loan because he might lose his home

LoL oh how everyone wants to get rich quick. Slow and steady wins the race!

I understand debt snowballing is a pillar of Dave Ramsey first and foremost, but in this situation, I think a cash out refi in 6-8 months is a better idea than a heloc. Pay off the debt, increase your mortgage payments, have hubby sell off some of his toys and make sure this doesn’t reoccur. Just my thoughts as a loan processor

Financial infidelity lol.... What a buzz phrase to make it seem like a biblical sin... depending on the relationship and communication thats not infidelity of any kind just stupidity

I think that would best be described as a gambling problem

Play dumb games get dumb rewards 😂

they make 20k a month!!! how is 4800 a month crippling?

They make enough money to pay in less than two years

So…this was not a good answer? Sure, take an extra job and use a legal pad, but she says at the beginning a HELOC payment would be lower than the other payments. If the interest rate is lower on the HELOC it’s refinancing and financially intelligent, not making the situation worse. Why did they miss this total softball?

This is why the capital loss limit needs to be increased already and adjusted with inflation. The $3,000 capital loss limit is so out of touch having been stagnant since when it was first instated in 1978. We've seen massive inflation over the past 45 years, and yet this amount remains unchanged. Everyone please stand behind the Capital Loss Inflation Fairness Act that proposes to increase this outdated amount from $3,000 per year to $13,000 per year (which is the fair and appropriate calculated adjustment for inflation).

They make $250k annual. They can’t live on a hundred G for a year?

They didn't even answer her question. She should definitely swap her debt into a HELOC if the interest rate is lower and pay that off instead.

All the statistics show that day traders lose their shirts. It doesn’t help that endless social media people make it look like “a smart investment “.

You know what i don’t understand about this. It’s that there are many successful day traders. Many. And yet when someone fails at doing it they say it’s gambling or luck or what have you instead of evaluating their approach and analyzing their mistakes and perhaps seeking out someone who does know how to do it and actually learning. You insult your own intelligence with that approach. Day trading has changed my life but it wasn’t an overnight get rich scheme it took years of dedication and self reflection and learning to control my emotions and learn from my mistakes. Some can do that quicker and some longer but to dismiss it, that’s wild to me.

Risk v reward. Women don't complain when the guys making money

I hate it when John tells people what they are feeling...

If she fixes it for him, he won't learn his lessons. They need marriage counseling right away. Smh

A HELOC *could* be part of the solution, but once all of this debt is "neatly swept away" into a HELOC, his gambling bug will return. He'll feel that now there is money available again, and "this time will be different."

First I was like meh because I thought it was his own money but after I heard it was debt my heart got broken 🤯

They don't need another job. They need to downsize.

Separate accounts, buckle down and put him to work. He needs to feel that pain of getting that paid off.

Most Daytraders lose money! It take a second level nutbag to lose $150,000

Because of RU-vid video tutorials everyone thinks they are the next Warren Buffett😂 her husband obviously has this delusion

With their income they should be able to pay it off in a year. Forget this "3-4 years" business. Forget this ridiculous concern about "putting food on the table." They have a huge income.

The husband has a gambling addiction. This marriage is already in serious trouble. Get out. He's not going to change.

Divorce him. He will ruin you eventually. Speaking from experience.

She needs to file for divorce. I would bet he has more debt hidden she doesn't know about that will come to light when this debt is dealt with and things calm down a bit.

FOMO gets you everytime. Learn to control your emotions.

Kate is right!!! My husband did this and I am pissed!!! Omg my heart sank because my husband also told me. And he's done this before and Kate is 1000% right this will only fix the problem temporarily but you want to fix it going forward and getting a loan is a huge mistake. He like my husband has a gambling addiction, but they will never own up and the only reason they finally confessed is because they are out of money and are looking for a way to get more money.

I hope that ladies boyfriend isn't affected by this.

Honey he has a real problem..divorce is the answer!

Man hopefully he gets his sht together cause this woman sounds truly special.