Modern Wisdom

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Why Everyone Is Drowning In Debt (and how to get out) - Caleb Hammer - #1123

Explore episode Jul 13, 2026

I think the true happiness that you actually can buy is security. And 5,000,000 is a really good number to get to secure.

Caleb Hammer

Why Everyone Is Drowning In Debt (and h…

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It wasn't the emergency that did that, it was you living your life, not saving up even a three month emergency fund. It was your behavior before that emergency.

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I swear, the closer they get from 100 to 200 to even a half $1,000,000 a year, the worse debt, the more credit cards, the more time shares, the more cars, the more bullshit they have.

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Just like consolidating your debt or transferring to another credit card or even letting things go to collections and negotiating them, just like all those, bankruptcy, if you do not change the your behavior that got you into that situation in the first place, you will literally end up right back there again in a few years.

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These powerful CEOs, Dario or Sam or Elon, are racing each other to be in control of the most powerful AIs and are literally afraid that if the other guy gets there first, he might become dictator.

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The UK is a great country to be poor in and a terrible country to be rich in, and America is a terrible country to be poor in and a great country to be rich in.

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I think the main thing I've learned is don't pay attention to the narratives. What they say to one person is just different from what they can say to some other person at the same time, and what they say in public is a third thing entirely. I think you should judge people by their actions, not by their words.

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Some people use debt to improve their identity more than anything. You know, pulling up, you really care what the person next to you at the stoplight thinks about your car.

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