Just A Dreamer Or Living The Dream?

Justin and his wife have used savings to fund Justin's pro golf dreams. They have $10,000 left, and Justin has $25,000 in student loans. Where should the $10,000 go now?

QUESTION: Justin in Atlanta and his wife have used their savings to fund his professional golf dreams. Now, they only have $10,000 left, and Justin has $25,000 in student loan debt. They're living with their in-laws and renting out their home to save money. Where should the $10,000 go at this point? Dave thinks he needs to set a deadline for himself.

ANSWER: As you know, you're in a very tough sport to try to get into the money. If you're not playing some tournaments that are money payers… If a 25-year-old came to you with this and told you this story, how would you coach him? It's normal for all of us to have a blind spot about our own skills, and how would you tell him to assess his skills properly? I guess there's a fine line between being a dreamer and living the dream. I don't know where that is, and I don't want to talk you out of it just before you become the next Jack Nicklaus or something.

What I would do is put a deadline in place that says, "By this time, I'm going to make X. And if I don't, then we're going to put this on the shelf and get on with feeding my family." I think you've got to balance living your dream with it becoming your family's nightmare. I don't see you spinning your wheels like this for five more years. There's a price to be paid for greatness. Maybe you break through, but if you don't, then at least you don't wonder what could have been. You tried, and in a sense, got it out of your system. I'm probably going to try to live this dream for one more year.