'Who Gave A 20-Year-Old A $100,000 Cow Loan?' Dave Ramsey Is In Disbelief That A Lender Would Give Out That Much Money

Core Insights - A 20-year-old secured a $100,000 loan to purchase cattle, raising concerns about the decision-making process behind such a loan [1][2] - The young borrower has experience in the cattle business, having worked alongside his father for 10 years, which adds context to the loan [2] - The loan was secured against a $100,000 certificate of deposit (CD), indicating a level of financial backing [3] Financial Analysis - The decision to borrow against the CD rather than using the funds directly for purchasing cattle was criticized, as loans typically carry higher interest rates than CDs [4] - The caller's confidence in the beef market's stability over the next two years was viewed as overly optimistic and compared to gambling, highlighting the unpredictability of commodity prices [4][5] - Ramsey emphasized the importance of understanding supply and demand dynamics in the cattle market, noting that an oversupply could lead to lower beef prices, while high demand with fewer cattle could increase prices [5]