Financial expert Dave Ramsey has once again taken to social media to voice his concerns about high-income earners and their inability to manage their finances effectively. In a recent video shared on Facebook, he specifically called out medical doctors and lawyers, comparing their financial habits to those of actors and musicians, groups often criticized for reckless spending.

Ramsey stated, Medical doctors are about as notorious as people in the music business or the acting world for being stupid with money. Only they add a level of arrogance to it because they're so freakin smart. This stark observation highlights a troubling trend where those who are hailed as some of the smartest individuals in society often struggle with basic financial management.

In the caption accompanying his video post, Ramsey elaborated, Doctors are some of the smartest people out there and some of the worst with money. I've seen it over and over again. His comments resonated with many, as he pointed out that high incomes do not equate to sound financial decisions.

Ramseys critique didnt stop with doctors; he also targeted lawyers and entertainers, suggesting that a significant number of them let their arrogance overshadow common sense. He emphasized that earning a lucrative salary doesnt necessarily mean one is financially savvy. Just because you make a lot doesnt mean youre winning, he noted, underscoring the idea that financial success is determined not just by income, but by how that income is managed.

This message is consistent with Ramseys ongoing mission to encourage individuals to eliminate debt and build wealth through practical financial strategies. He often backs his assertions with data from his National Study of Millionaires, which surveyed 10,000 individuals with net worths of over a million dollars.

Interestingly, the study revealed that many millionaires did not come from traditionally high-paying or glamorous professions. In fact, Ramsey pointed out in an interview with comedian Theo Von that the profession of medical doctor did not even rank among the top five sectors that produced millionaires. Instead, the highest-ranking professions included:

  • Engineers
  • Accountants
  • Teachers
  • Managers
  • Attorneys

While its worth noting that attorneys did make the cut, doctors did not. Ramsey remarked, The hardest people to convince to use common sense are the smart people. Lawyers and doctors the level of arrogance that comes with that often it's the hardest group of people I have to talk into it.

He further urged viewers to avoid being too smart for your own good and emphasized the importance of humility. Humble yourself, learn the basics, and start making your money work for you, not against you, he advised, suggesting that even the most educated individuals can benefit from fundamental financial education.

Ramsey's commentary serves as a reminder that regardless of ones intelligence or professional success, mastering personal finance is a skill that requires continuous learning and commitment. In a world where financial literacy is often overlooked, his message encourages all individuals, especially those in high-income brackets, to take a step back and reassess their approach to managing wealth.