Core Insights - A cardiology doctor, with a combined income of $750,000, sought approval from financial expert Dave Ramsey to purchase a $250,000 Porsche but was advised against it due to financial prudence [1][2][5]. Financial Situation - The doctor has an emergency fund of $60,000, owns two homes, and is expecting a signing bonus of $75,000 to $100,000 [3]. - One home in Florida generates a monthly profit of $1,000 after expenses, but has a remaining mortgage of $150,000, while their current home is valued at $450,000 with $300,000 left on the loan [3]. Ramsey's Advice - Ramsey emphasized that the doctor should be debt-free, have an emergency fund, and pay cash for the car before considering such a purchase [6]. - He suggested that the doctor should wait about a year to pay off debts and save enough cash for the Porsche [6]. - Ramsey recommended selling the Florida rental property, stating that the $1,000 monthly cash flow is insignificant compared to the doctor's income potential [7]. Alternative Suggestions - Instead of the $250,000 car, Ramsey proposed purchasing a used Porsche for $75,000 to $100,000, utilizing part of the signing bonus [7]. - He highlighted that the difference in experience between the new and used Porsche is minimal, while the financial stress of a large purchase could be significant [8].