Kevin, a 30-year-old restaurant manager from Austin, Texas, recently called into The Ramsey Show to ask for advice on recovering from a major, self-inflicted financial setback (1). He shared with hosts Dave Ramsey and Rachel Cruze that he and his wife had to move into his mom’s house because he lost his $34,000 of savings on penny stocks. Must Read He wants to get back into his own place, but really isn’t sure what to do now that his savings are gone. Ramsey was confused as to why Kevin fixated on his ...

A 30-year-old fast-food manager thought he had found a shortcut to building wealth. Instead, he lost every dollar he had saved and ended up moving back into his mother’s house with his wife. Kevin, who works as a manager at In-N-Out in Austin, Texas, told “The Ramsey Show” that he had spent years saving $34,000 during college and early adulthood. After someone he knew suggested penny stocks, he decided to put the money into those risky investments. “Long story short, I ended up losing everything,” Kevin ...