Dave Ramsey tells cardiologist earning $650K he doesn’t ‘deserve’ a $250K Porsche — what he says he needs to do first

Core Insights - The discussion revolves around a caller's desire to purchase a $250,000 Porsche, with financial advice provided by Dave Ramsey, who surprisingly does not outright oppose the purchase given the caller's high income [1][2]. Financial Situation - The caller is a newly qualified cardiologist with an annual income of $650,000, and his wife earns $100,000, leading to a combined income of $750,000 [2]. - The caller owns two homes: one with a $150,000 mortgage generating $1,000 monthly profit as a rental, and another primary residence with a $300,000 mortgage [2][3]. - He is also expecting a signing bonus between $75,000 and $100,000 and has an emergency fund of $60,000 [2]. Advice Given - Despite the caller's high income, Ramsey advises against taking on a car payment, emphasizing the importance of not financing the luxury car [3]. - Ramsey suggests two alternatives: purchasing a cheaper, pre-owned Porsche with cash from the signing bonus or selling the rental property to eliminate the hassle, as the income from it is deemed insufficient compared to their high earnings [3][4].