I’m 73 With Student Loans and No Retirement!

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[@titolovely8237]

i gotta be honest, if you still have student loans at 65+ years old, just make the minimum payments and save everything else u can save. it isnt worth paying it off.

[@zelthic]

Student loan get past down to his grandchildren if they pass away

[@xsgtxbigboy1655]

@@zelthicthat’s not true unless there name is on the loan don’t spread lies

[@FirstnameLastname-et3fy]

​@zelthic where do people come up with this shit? Stop saying things unless you verify its true first.

[@citi360]

​@@zelthic😂😂😂😂😂😂😂

[@Monkofthecaribbean]

I wouldnt even bother paying it at that age lol

[@JasRog1026]

People in their 20s and 30s buying expensive cars ,going out to every night, movies and bars every weekend, saying you only live once, listen to this call. Thank me 40 years later.

[@jmorris023]

Well if you're in your 20s, the world is going to be very different than today when you're 72. Not sure there's much you can do about saving for retirement if money doesn't exist by then.

[@JasRog1026]

@@jmorris023 the world never stays the same, things always changing, my point is, make good financial decisions when young, so you at 73 are not calling Dave Ramsey great grand children for financial advice.

[@austinduke8876]

@@jmorris023That's fine to hold that position and my only ask is that when you get to this man's phase of life and are destitute after a life of your current world view that you please have the courtesy to simply accept the conclusion of your life in silence.

[@Tristan14578]

Working a second job to hurry up and pay off my car (not a pricy car). Don't like having any debt

[@Tuga-h1h]

Facts. You can have fun just think about the future.

[@StevenAbbott]

I proposed to my wife when she had just graduated from high school. One and a half years after we started dating. Her father was so angry he offered her a credit card and an apartment if she would not marry me. He informed her if she married me she would be on her own and he would not pay for her college (Cal Poly). So we married and I paid for her college from my carpenter's salary. 46 years later that was my best investment

[@GoJojo-lv6zi]

I love this! You sounds like an amazing husband and I’m glad the two of you took that leap 💗

[@Dontrolling]

How’s the relationship with the father if you don’t mind me asking? I hope it was mended and he realized how wrong he was and how happy he should be for your loving efforts towards his daughter.

[@Dividendflywheel]

Congratulations

[@citi360]

​@@DontrollingI'm the father! And I'm still offering that credit card & apartment to this day!

[@Monkofthecaribbean]

Hard to blame the father, its dumb to get married that young and that short period of time of knowing each other. Glad it worked out though

[@loujon191]

It is brave of her to call and put herself out there. At least she is seeking guidance. I wish her luck

[@valtaylor2574]

amen, so true

[@ellencox8415]

Her story is so terrifying. I'm glad she still has a happy spirit about her, but her future is government housing and Alpo.

[@Mr.Boring_Man]

Seeking guidance at 73 isn't brave. It's 30 years (being nice) too late.

[@helena3631]

@@Mr.Boring_Manbetter late than never

[@vickikendricks1605]

Amen, God bless you young lady!

[@ceciliapetrowsky2572]

Wow! I was thinking and worrying about retirement in my 40s. Thankfully, we started saving like crazy so when I got laid off at 59, I realized we had enough and my days of working were over. Hallelujah!

[@tracywalker244]

Congratulations 🎉

[@RepentImmediately]

What do you consider to be enough?

[@valtaylor2574]

People laughed at me for taking 9 years to go thru a 4 year program. Calling me a professional student I graduated debt free in 1993 with my BFA. Tution was cheaper then, but i was still working 2 jobs to pay for the hours I could afford. I think student loans are the largest scam in the USA.

[@pickmeisha]

A BFA is quite useless, they are likely still laughing at you.

[@Dividendflywheel]

Student Loans for dumb degrees are definitely A SCAM. Right behind pay-day loans

[@FalconChief222]

Student loans aren’t necessarily the largest scam. Worthless degrees are. I borrowed $40k for a 21 month Aviation Maintenance program. I spent MAYBE $1k, out of pocket, on all my FAA tests. And I got my A&P. 3 1/2 years after graduation, I paid back every penny + a little interest.

[@valtaylor2574]

@kevinfransen1255 my ex got his A&P training in the Air Force, got paid to learn.Took his FAA exams, worked at the United FBO in San Francisco for 30 years. You situation shows how student loans are suppose to be addressed, with discipline. Unless some one chooses to become a doctor, there are always ways to become what you want without a ton of debt in the end. Stay safe.

[@Cathy-xi8cb]

No...people are laughing at you for getting a BFA degree and working that hard to pay for it. And they are still laughing.

[@kellyy9349]

At 73, she should collect her social security now! She is not going to get anymore extra benefits by delaying past 70. Also, home ownership also has cost like maintenance, taxes and insurance that goes up every year. I would continue to rent and apply for elder subsidized housing.

[@ericfoshee6753]

She can’t take the social security while she’s still working, she makes too much money I believe

[@mr.b4444]

@@ericfoshee6753 Yes she can. At 70 she's fully vested and could have started the benefit without penalty a couple years ago while she still works.

[@pghmoore]

Swear. That house ownership ship has long sailed for her. My dad is looking for a house at 61 and is recovering from cancer. I try to ask him is this really something that you should be doing in these circumstances.

[@fins9584]

@@ericfoshee6753, that's only true until full retirement age. She should have started collecting at 70. At that point she would be receiving maximum benefits, and her benefits don't go down because of working. I'm surprised Dave missed this.

[@deniseyweesy]

@@fins9584 I am guessing that it's part of her 4500 a month. I also am surprised Dave didn't ask her how much her SS is.

[@Lookza21]

This is so heartbreaking. Wow the decisions we make as youngsters have long term repercussions.

[@gingersaremad]

She's 72. She got a degree at 54 in communications. I don't think he can blame his youth for being financially irresponsible.

[@dano8613]

Like abortions and sex changes?

[@gibblespascack1418]

And more degrees since then, while ending up as a quality inspector. OMG....@@gingersaremad

[@alexanderyancey7670]

​​@@gingersaremadshe bought the education con. It is criminal that she would have been encouraged to get a loan for a lousy communications degree at that age!!

[@debbiefried3533]

If she graduated in 2005 and is now 76 she was not a youngster I graduated in 2005 from nursing school and am now 61 and I was in my forties when I graduated.

[@sirheisenberg4459]

im 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[@mariahudson9939]

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

[@NorthCarolinaForward]

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.

[@brantheeskimo]

This is exactly how i wish to get my finances coordinated ahead of retirement. Can I get access to your advisor?

[@NorthCarolinaForward]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@firefighter-i6q]

I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@saltyjordy]

I will ALWAYS remember Dave’s quote from a long time ago. “Live like no one else now, so later on you can live like no one else” This quote speaks DIRECTLY to young America and how we are encouraged to live like it’s our last day and the YOLO mentality. Thank you Dave & Ramsey solutions

[@ianstuart1483]

Why is education so expensive in the US? It's crazy the amount of debt young people start adult life with.

[@saltyjordy]

@@ianstuart1483 People choose where they want to go to school. Community College is available in the US and is VERY affordable compared to typical universities.Society has programmed many young people to go to very expensive schools when, in reality, you don't need to go to these schools that offer you nothing more than tons of debt.

[@Bbfishman]

@@ianstuart1483 the issue is that they're federally insured and cant be defaulted on. therefore, it leaves absolutely no incentive for the lenders to actually care about whether or not the loan makes any sense financially. the degree they're seeking should be a factor when approving these loans, based on the potential income. the people in charge of getting people locked into these loans have absolutely no risk, no matter the amount they're giving away. at least banks are weighing the risks of not getting their money back, student loans are a different monster

[@KatieTheDev]

Isn't it "live and give"

[@BriannaWeems]

@@ianstuart1483it doesn’t have to be. community college can be really reasonable and in many states even free for the first two years (it was in my case) after that being a commuter student and taking classes as you can afford them at a 4 year school is totally possible.

[@Slickizme]

I want to say, “Thank you, Dave.” It’s, because of you, that (after many years of neglect) I made the decision to pay off my student loan (all $55k), in one lump sum. Which, by the way, was all the money I had at the time. Having to start over was tough, but I made it. Thank you, so very much.

[@honjokun0615]

You're now debt-free! This is amazing. Compound interest will now work FOR you, not against you. Congrats!

[@beanteam2217]

@@honjokun0615no, imo it’s kind of dumb to pay all you’re debt woth all u have. If something happens you have literally nothing to fall back on.

[@DavidGrand-PDX]

That is awesome that you were able to trust in God and follow through on taking your savings and paying off the student loan! Impressive. And great to hear that now on the other side of that huge move you are back on track! Great to hear. When I hear tell Dave R. to take a big pot of money and apply it to debt, I think it is rare that people actually do it.

[@MesheherKim]

Paid off mine too. Bought my car cash. I have a mortgage but will nvr go bk to financing a car or student loans or credit card debt

[@markmurrell1894]

THIS should scare the heck out of every 20 and 30 year old! I’m so sorry for this person. Wow!

[@wm5994]

I'm not sorry at all. No one but that person is to blame.

[@paulstandaert5709]

While everyone else was out having fun, I was working somewhere on something. I really have no financial sorrow for those types. This person on the phone here is renting something for $2,000/mo in Phoenix. It doesn't sound like this is someone who is diligent with their money at all, and the biting factor is engaging.

[@wholesome2792]

@@wm5994you know nothing about them and yet assume the worst.

[@wendyk4565]

I feel bad for him as well. 😢

[@Shmyrk]

@@wm5994pain is pain man. We do not know another persons struggle. Having sympathy for your fellow man is not a weakness

[@jodyhenning2128]

This is heartbreaking. I don’t think buying a home is the answer

[@1981lashlarue]

It makes sense in that she won't have to worry about a rising cost of rent every year. The only expenses with the home that will increase will be property taxes. If she can get a modest 900 square foot home, she should be alright. It will also give her an asset with some equity. She'll have an extra $2k a month once the student loans get paid off so that will help.

[@percyastronautstatus.8780]

​@@1981lashlarueyou are dave are TOO optimistic. .When the student loses get paid off ??..SHE IS73 !!!!! WHEN THE STUDENT LOANS ARE PAID OFF SHE GONE BE IN HEAVEN ......SMH

[@1981lashlarue]

@@percyastronautstatus.8780 What? Did you not listen to the call? She has six months left. She's been paying $2k/month with a $12k balance. Is there some reason you don't think she's going to live another six months? It doesn't sound like a case of us being too optimistic, but you being overly pessimistic. Why the doom and gloom?

[@percyastronautstatus.8780]

@1981lashlarue OH...I didn't hear the 12 months left part ..Ok that changes everything

[@1981lashlarue]

@@percyastronautstatus.8780 Six months left. $12k balance and she's paying $2k/mo= six months. It seems your reading comprehension is as bad as your listening skills.

[@alant8553]

And once again…. Having a college degree does not automatically… make you wise.

[@Neiri-qg2wk]

People use education as a balm. My friend went back to school, and she is still miserable in her career.

[@mrpaiute9013]

You are saying this like you are the last one to know this

[@texasskygirl7890]

Student loans are a scam.

[@RuthWard-wz9mn]

The right time to retire is when you no longer wish to work for a living AND you ARE POSITIVE that you can afford it. But remember, if you leave your job without sufficient resources, you are not retired, you are unemployed.

[@DonaldThompson-jg5js]

You’re not underemployed just spending too much. There are plenty of KZbin examples of people who adjusted their living to accommodate their income which most people could do and retire today but they don’t.

[@EugeneLim-cj6vn]

Very interesting comment 🤔Cheers 🇺🇸🍻🇨🇦, That end part is very true!

[@EugeneLim-cj6vn]

I was 55 when I retired (in my 70s now) -- don't miss the working-world at all, especially since nowadays -- it being what used to be called PC, but now called Woke (!) -- I'd not stay employed very long in any liberal/progressive corporation or business. Glad to have gotten out (of public education, WAY worse now on all levels) when I did... -- BR

[@CharlesBerger-rw8up]

I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

[@AnthonyWells-dq3ro]

@@DonaldThompson-jg5js I can't talk about anyone else but I am semi retired and fully retire, legally, at 55 next January. I've reached a time in life where I don't need to acquire materialist things. I've settled for a simple life style. I grow my own veg and enjoy just walking, which is free.

[@spankynater4242]

Come on Dave, no way anybody is going to approve a mortgage for this human.

[@JamesJamersonIsAGod]

Right? That would be insane! I did have a coworker who was 63, single, and made about $40k per year. She had just finished paying a car note on a nice 5 year old Honda. She somehow got up sold a month later on buying a new version of the exact same car on a new 6 year note… wait, it gets better… About 4 months after that a bank gave her a 30 YEAR MORTGAGE on a new house… I was astounded. But wait, there’s more… flash forward another year or so and our company offered “early retirement” to anyone 55+ with at least 10 years of service. This was not a golden parachute but more like “hey we will pay you 6-8 months salary and health insurance if you leave next week”. Obviously she took it. She had all kinds of health problems and no real savings. It was one of the wildest financial situations I’ve ever seen.

[@MarcoPrietoDD]

One of the saddest calls I’ve heard on this show

[@warwagon]

Given that over 61% of Americans are living are paycheck to paycheck, 61% of Americans will be in this same situation when they retire.

[@domingodelgado3944]

Yeah she seems like it’s not a big deal 😑 she has “time”

[@jg-xx8oh]

Oboy I feel for this caller this is scary ❤️🇨🇦

[@theskyizblue2day431]

@@domingodelgado3944literally the only thing she has is time

[@rwill6371]

I got scared for a second… why my heart start beating so fast

[@RamTrucks590]

Just plain wrong advice from Dave. Did he not hear her say she makes $4500 per month and spends $2000 on rent. She's 73 and wants to retire at 76. She won't be able to save the 20% down-payment and save for retirement at her age. When she retires she should instead find senior housing that is based on her fixed income.

[@Mrs.T305]

Agree

[@DistopiaKosaki]

Actually is just better to move elsewhere to a country that is cheaper, $2500 a month in retirement is very good

[@josephbanks9897]

Senior housing would be great. But in most cases there is a 2-3 year waiting period.

[@michaelh2282]

2k in rent for a single person in the Phoenix sounds insane. Surprised Dave missed that. I got my own place 2 years ago in downtown DC which is far more expensive and I only pay 1300/month.

[@peterrobbins6691]

@@DistopiaKosaki $2500 per month is nothing these days and definitely not enough for retirement if you want to actually do anything in retirement. I'll be getting $6,500 before taxes per month in a couple of years and I don't think thats enough

[@random-nz7dy]

The way Dave asked "You're 70 years old and you have a student loan?"😂😂😂😂😂

[@EeroHaapala69]

That took me out too lmao

[@random-nz7dy]

@@EeroHaapala69 lol Just priceless the way he says that

[@kbanghart]

Yeah he needs to kind of wake up to the reality, I mean if you go to school age 60 which is reasonable, then of course you might still have the student loan 10 years later.

[@OtisFlint]

@@kbanghart Going to school at 60 is not reasonable. Your career is over at 60, so what are you going to school for, a hobby?

[@kbanghart]

@@OtisFlint people go to school at all kinds of ages for different reasons.

[@danielnickerson5561]

My mom still had student loans from 30 years ago! A lot of people still have student loans decades later!

[@zachpierce641]

I’m 30 when I hear calls like this it motivates me to live below my means and invest . No matter what’s going on in life I have a set amount I put in an IRÁ every month . It’s a bill just like rent and utilities. It’s not optional in my mind

[@dungeonmaster6292]

IRA and 401K are funding the predatory and inmoral financial industry

[@eplugplay8409]

same here!

[@plumbingHVAC_sports]

Keep it up 👍🏽

[@JillTrace]

I’m 25 and same here… I even wish I started 2 years ago.

[@cgasucks]

Yeah...don't be like that guy.

[@mamathabanna]

I’m from India and I feel a gap when almost every caller on this show says they have a student loan. I think in India atleast 99% of our parents provide for us and we support our parents financially too. This may not seem like a good idea for all . But even if we took student loans , the fees on merit basis would definitely not amount to this much. I feel the youngsters are so much on their own and managing single-handedly without any guidance.

[@shaneamundson1192]

You're right. Here in America , most parents teach their children little to nothing about the realities of life, because they want a stress-free, worry free, blissfully ignorant, perpetually happy environment with which to raise their kids. They give their offspring a stamp of approval for everything they do and say nothing when they can see their adult kids heading straight into trouble.

[@roseother8306]

I regretted that my mother would not help me get a loan to become a medical technician at 18. My father had died and high school alone wasn't going to bring me the future I wanted. It was $2000, at the time. So, I could only get a full time clerical job paying $68/week. I don't think all loans are a bad idea.

[@TheRadiantPeachBudgets]

Or worse, getting advice form people who don’t know what they’re talking about

[@workinonit9562]

People laughed at me and my hubby for being frugal all these years, we helped pay for kids colleges, gave them down payments on houses and bought them their first cars. We have been debt free for 15 years and can afford to do whatever we want, we have a very simple lifestyle, we are making more money in retirement than when we were working. Who's laughing now?

[@MC-Minority]

Good job!! People don't think long-term

[@LiquiProductions]

How making more?

[@MC-Minority]

@@LiquiProductions Yeah, like I see a lot of people hustling jobs more than them books in college, which is a bag investment long-term since your income potential is double to quintuple post-graduation, depending on your major and hustle ofc.

[@jlprescott7243]

People laugh at me for not owning a car. I just rely on public transportation and walking. Cheers!

[@erikamartinez9053]

Good for you. I could never do public transportation. It takes longer, smells like pee, dirty ass people that dont wash their hands, MRSA outbreaks, can get robbed, walking in the rain, etc….etc…!!!!!!! Not my cup of tea!

[@melissam6037]

If the caller is reading, please look into senior housing in your area. Here in SF I know someone who got a small but nice 1br apt for $500. This is through a city program and the rent is locked in. See if there is a program or lottery for senior housing. Buying a house with few resources at 72 is the all time worst advice I have ever heard! Also like others have mentioned you can collect social security and still work.

[@lorirogers9304]

Most senior housing is for low income

[@quixomega]

It's really sad when people call when they have no time left to fix their finances. I can't imagine working until 76. My father is 77 and has been retired for 17 years.

[@ceruleanprince7139]

It also makes me sad because I always think about why their family doesn’t help. It seems this lady lives alone and can’t retire at her old age. I just wonder if she doesn’t have any family or if she’s distant from them.

[@RepentImmediately]

​@@ceruleanprince7139well, my mother drank and drugged throughout my childhood and lived on her divorce settlement for 30+ years while working unskilled jobs and never advancing herself. She was neglectful, emotionally abusive, and exposed me to some horrific stuff when I was a kid. And she didn't attend my events or graduation. That's why I don't help her. She's 76 and still working. Last I heard she had to move to a cheaper subsidized apartment from her previous subsidized apartment cuz my father died which meant that she stopped receiving alimony. She cheated on him before filing for divorce, btw. Prior to that she was a housewife for 17 years.

[@lailaalfaddil7389]

The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You’ve got to start taking steps to achieve your goal.

[@lailaalfaddil7389]

You invest with Mrs *ROCH DUNGCA-SCHREIBER* too? Wow that woman has been a blessing to me and my family

[@heathermetz6576]

Absolutely! My goal is to own properties and have residual income. Not quitting my job but making sure my investments make money 💰 for me.

[@bencortez9907]

Wow. I’m still try to process the life choices of this person.

[@lorrainea.285]

SAME!!!🤦‍♀️😰😰😩😩🤯🤯🤯

[@Bbfishman]

unfortunately, shes (rather apprently) not very bright

[@BusArch42]

@@Bbfishmanthe comms degree indicates that. It’s the lowest level easiest degree you can get in college.

[@RaymondDawson-v2w]

Dave and Ken are full of it . This dizzy woman took out student loans of her own volition so she's NOT a victim here. It's her choice to carry the loans for 20-25 years by only paying the bare minimum.

[@Joel-ew1zm]

I am 29 and I am so glad I discovered Dave a couple years ago. I check his videos once in a blue moon to remind myself why I have to be disciplined with my money right now when people my age are going on lavish vacations throughout the year and treating themselves to brand new luxury vehicles or renting high end luxury apartments for $3,000+ a month or going out to fancy restaurants or buying designer clothing regularly, or buying brand new expensive electronic items like macbooks and gaming PCs and gaming consoles and brand new high end TVs, etc etc etc. Also, the people I know doing all this make less at their job than my wife and I do for the most part.....

[@kingdomallegiancepodcast]

This gives me hope 😢 my wife and I are starting this journey at 27!

[@ellencox8415]

​@@kingdomallegiancepodcastmy husband and I started at the same time. You can do this! Will it be difficult? Yes. Will you have moments of thinking this is never going to work? Yes. Does it work? Yes, but you will absolutely be the weirdest person in your neighborhood, family, etc. We had $120,000 in student loan debt. $10,000 in car loan debt and $6,000 in CC debt. We were beautifully normal and broke. Now at 44 we have a paid off house. No debt. Projected to have no decrease in our lifestyle in retirement and our child has a fully funded college. When I tell you how freeing and just light we feel, it is an understatement. We will NEVER go back. "Shoot for the moon, even if you miss, you'll land among the stars." - Norman Vincent Peale

[@quixomega]

I'm about 10 years older than you and I've been very intentional with my fiances for the last 10 years. It's the smartest thing I've ever done and I'm now at a point in my life where I can afford to buy a few luxuries if I want (cash of course), fund my retirement and I have no debt except for a small mortgage. Borrowing is taking money from the future and bringing it into today and its' the biggest mistake the average person does. Don't be average.

[@whitney9844]

​@@kingdomallegiancepodcastYou started young and if you budget right then you will do very well. Good on you guys for getting in on it in your 20s.

[@luis21alba]

Life is short yolo lolz😂

[@cjhoward409]

I worked 3 part time jobs while going to college. Paid as I went. My parents didn’t give me money, nor did I take out any loans. Just worked hard my younger years. So glad I did !

[@txgirlaustin8432]

Yeah, that’s the way to do it!!! U did it the right way. That makes u very smart😊

[@wendyk4565]

76 and $2k going to student loan, this is so sad. I pray he gets this paid off. Please don’t take out any student loans. 😢

[@jasonbornne7767]

“HE”???

[@deniseyweesy]

@@jasonbornne7767 It's honestly hard to tell.

[@costco_pizza]

The truth is a lot of us are struggling out there. We are suffering and don’t know where our next meal is coming from. Student debt relief and a proper UBI would go a long way to helping us all out. We could pay our bills and put food on the table. Why don’t Dave and Ken want that for us?

[@ilexevergreen5405]

Student loans should at the very least be completely forgiven at age 65.

[@ilexevergreen5405]

Robin is male spelling (v. Robyn for female)

[@breezy9x43]

I’m 21 and this is absolutely scary. WOW

[@NatashaEstrada]

I mean at 73 she's made it through most of her life and she'll probably make it through the rest of her life just fine.

[@breezy9x43]

@@NatashaEstrada fair point

[@Farly98]

I've heard hundreds of these calls. This one hurt my heart ❤️

[@LoantakaBrook]

God bless this lady! If you are not saving, you are spending. She should look around her home, and see what she could sell.

[@MikeNapoli1989]

Sell the house

[@dannylengyel5830]

@@MikeNapoli1989 Can't. It's rented.

[@TheFlyingZulu]

Ouch... When I feel bad about my future I hear calls like this and it makes me feel better.

[@sblijheid]

You probably should still feel bad. If you have not resolved your issues, things can still go wrong.

[@TopVillain]

You’re never locked in when property taxes go up every year. Your mortgage payment will go up yearly

[@jml9550]

True. Rents also go up every year. I am a landlord and if property tax, insurance goes up, rents goes up too.

[@allthingsnu4673]

It's much better to pay off a mortgage before retirement.

[@Galworld761]

My property tax has increased $200 over 5 years. And I live in NY state! For the most part, your price is stabilized. My rent while I lived in NYC would go up 5% per year. I like roads, snow removal, garbage pick up and street light. My property taxes pay for those needs. I will NEVER pay an HOA. My town can’t tell me when to mow my lawn or that my bright red door doesn’t conform.

[@pauljansen6650]

And rent goes up at a higher rate than that to cover that too :) also property taxes don't go up every year but yes they do increase.

[@CarlaQuattlebaum]

Maybe Dave's just talking about the mortgage payment itself, as far as being locked into what you'll be spending, but people's homeowners insurance and property tax keep going up, so the monthly housing expense goes up yearly, just like rent. Then homeowners have to worry about the roof needing replacing or HVAC repairs, or plumbing repairs, so I don't see what difference it makes if you're renting or buying. Yes, one day the home will be yours, but homeowners can go through a lot of financial headaches before that day.

[@curiouscat3384]

Especially at her age. The only reason to buy vs rent is to build equity. In her remaining years she won't accrue enough equity to counter the cost of rent. For younger people though, I can attest to the HUGE value in owning my home in retirement. Yes, inflation is unpredictable for tax/insurance/maintenance but still cheaper in the long run than a mortgage (especially if the house and yard are a modest size). As Dave likes to say about borrowing money, I say "The tenant is the slave to the Landlord" and I don't ever want to be evicted at age 60+ !

[@Sweet_Southern_Pecan]

You make a great point. However, I will say I live in an area that has become a magnet for tech companies and rents skyrocketed upwards of $500-$1000 upon renewal. Luckily we own and didn't experience this increase. Just saying renting can be a less stable option.

[@Rolando91flores]

Move in with family? There’s just no way you can ask this woman at 73 to work 80 hours a week until she dies to try and buy a home and have some sort of nest egg

[@I_Lemaire]

The real advice is for the caller to up her salary even higher. Move from QA to a higher position. With God all things are possible but on His timeline so be flexible about a retirement date.

[@billrich5217]

@@I_LemaireWho’s going to promote a 76 year old? Not happening in any company I’ve ever worked at.

[@1981lashlarue]

No one told her to work 80 hours a week.

[@DistopiaKosaki]

Just retire abroad

[@shrimuyopa8117]

Wow this is rough. If you are in your twenties, get out of debt, and start investing now!

[@cyoohoos]

Let’s be honest…. Companies are not looking for almost 80yo employees….

[@jasonrodgers9063]

The White House seems to be!

[@debfox]

@@jasonrodgers9063😂😂😂 you’re not wrong!

[@jasonleatherwood2172]

Need mentally ill people to manipulate its super easy

[@Vincent09291]

lol reply of the year@@jasonrodgers9063

[@LoantakaBrook]

@@jasonrodgers9063 🤣

[@cutlerylover]

Im a big fan of Kens confused face, LMAO

[@nopenope2184]

Wow. My heart sank when this call started, and it just kept sinking as the call continued.

[@KRITORISS]

I just turned 40, and have around 400k in debt including house, with solid 401K and investments, and was having a panic attack just hearing this call......

[@Dell7788]

I've had 2 friends this week that had student loans forgiven. At age 44 they still had 20 year old loans. They lucky

[@chloerodgers692]

No…they are benefitting from us taxpayers who have to pay for their education. That’s not luck. That’s democrat socialist policies.

[@Kwicdrawmcgraw]

That's a senior loan not a student loan!

[@plumbingHVAC_sports]

God have mercy for all of us amen 🙏🏽

[@defaultname7685]

wow how brave

[@plumbingHVAC_sports]

@@defaultname7685 ??

[@masscomnet]

I would tell this person to pay off their loans as soon as possible and retire abroad (Thailand or similar). This person could live like royalty overseas.

[@DistopiaKosaki]

Yeah I was thinking of that. Maybe go to México

[@rwill6371]

Easier said than done, it’s hard to move overseas alone at that age and leave behind the people and family u have

[@jivefive99]

"Owning a home" is a misnomer. I can only speak for Chicago, but almost half the mortgage payment is property taxes and insurance, which arent fixed. You never really "own" a house.

[@ArabianShalifa]

I’M 59 graduated college in 2022. Accounting 4 year degree. Debt Free other than the house. Working as a bookkeeper for a small business. My husband and i took a 10 day trip to Israel in the end of August and cash flowed the trip. I had the college debit back in the mid 1980s with no degree to show for it.

[@yanak7159]

I have an Accounting Degree, paid nothing. Went to local college and it was covered by the state and the scholarships. Most jobs don’t even check your degree, everything is based on experience. I know someone who kept going to college, different degrees, a bunch of student loans and ended up working at Verizon 🥴. And probably still paying for the students loans.

[@robloxvids2233]

Man this is just sad. This person has no idea how in trouble they are. Sad. You get to age 73 physically able and mentally cognizant yet you never took care of your future.

[@barbararepko4824]

For some people, life happens no matter how well they planned.

[@jasonleatherwood2172]

Think of the badass cars they have owned and the vacations

[@CaribbeanLife2023]

@@barbararepko4824💯Facts! A health major issue in the USA 🇺🇸 can wipe out a person’s savings and assets.

[@cutehumor]

she is age 76. 😂😂😂

[@aaronkelly3035]

@@barbararepko4824here we go with excuse making

[@davidsensing2664]

That is crazy! You get to a point in life where high priced education is no longer justifiable for your career.

[@citi360]

I think some of these institutions cut deals with these colleges.

[@deezelfairy]

​@@citi360No shit. The whole student loan system is nothing but indentured servitude.

[@MultiAnne36]

When I went to school I calculated the cost to the wages I would make + my working years left and made sure ot was profitable. The caller must have never done that. Total waste to pay off a loan all the way to retirement. Might as well have made less and never went to school.

[@AngelaTaylor-w3k]

Most people missed Dave's advice about saving toward a home. The point was to get out of debt and save a bunch of money. Savings toward a goal gives you incentive. She may decide not to buy but continue to rent but at least she will have more than a $1000.

[@Lil-Whiskies]

I think it says a lot about Dave's character that he never gets judgemental with the people calling in but the wheels start turning in his mind how he can help them out of the mess they have created in their financial lives. It just becomes a puzzle for him to solve.

[@vannem2688]

Because he was in that position and is wanting to help people.

[@adrianjeffrey2897]

Right ......great observation. You've been promoted.

[@CrazyGamer-z9y]

Wow this is probably the most sad call📞 i have seen so for in this show😢

[@busybecky6327]

Mortgage still goes up also. Mine has gone up $700/month in 6 years. PLUS you have to pay for repairs and maintenance. At 76, I would opt to rent in a senior apartment home or something that has lots of amenities, but that's just me.

[@StewieStew820]

I mean, if you risked it by signing up for a variable interest rate.

[@busybecky6327]

@StewieStew820 we don't have a variable rate. The $700/month is strictly from taxes and insurance increases.

[@StewieStew820]

​@@busybecky6327gotchya

[@MrOfficer235]

Same with us. Our mortgage bc of taxes and insurance has gone up $700 since buying in 2018.

[@mike7933]

Yeah taxes and insurance always gets you, I think Dave is speaking about paying off your house before you retire though should be a goal.

[@user-hd8ej8yx9p]

Just don’t pay the student loan, he’s got about 10 years left

[@XennialGuy]

But he's a she, so statistically she has 12 years left.

[@ceciliapetrowsky2572]

@@XennialGuyShe said she hoped to have it paid off by March 2024.

[@user-hd8ej8yx9p]

@@XennialGuy haha my bad

[@costco_pizza]

Not exactly an easy thing to do. The truth is a lot of us are struggling out there. We are suffering and don’t know where our next meal is coming from. Student debt relief and a proper UBI would go a long way to helping us all out. We could pay our bills and put food on the table. Why don’t Dave and Ken want that for us?

[@FalconChief222]

⁠@@costco_pizzaPaying off YOUR student debt is YOUR responsibility. Regarding the idea of Universal Basic Income… the definition of income is money received, especially on a regular basis, for work or through investments. What work do you plan on doing to receive UBI? What investments do you have that will yield a UBI?

[@joimumu]

The caller talks like she is 23 instead of 73 and she thinks she has time to save up for retirement

[@MaxAndDaisy0825]

How terrifying Looking for a home at 76 That ship has sailed sir!!

[@CreativeProductions-]

U can get a house whenever you want but he’s broke so there’s that

[@Shortballa11]

Rent! how can you afford anything to put in the house? Downpayment, fridge, washer/driver, microwave or anything for that matter.

[@miketracy9256]

How about finding a lower-cost rental place right now? This was a great example of someone who was led to believe that college degrees are worthwhile. 1,500/month for LTC will buy you about 6 days, so pay off the student loans ASAP. Good advice from Dave so a tiny home may be his best option.

[@ChrisMFlorida]

This is sad tbh. All I can say.

[@angelamarie222]

But seriously it is . The sad part is like Dave said ppl buy into this mentality that more education =more money ..not always ..I bet there are so many others in her exact situation.

[@stevennevins6643]

This person needs to be taking social security ASAP. She is long past full retirement age, past 70. She can draw max benefits without any penalty.

[@TabakovRadoustine]

The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC, ETH....)

[@JonBosworth-dc8no]

I'm pretty new and feel I have much to learn, I would appreciate if you show me how to go about it.

[@Rachelwilliams.]

You actually need an expert trader assigned by a registered broker company to help you out. I currently trade with Mrs Evelyn Elizabeth Sheridan, She is the best when it comes to making high profits in the market!

[@PaulBuriak]

Wow actually thought I was the only one trading with Mrs Evelyn Elizabeth Sheridan!. she currently manages all my funds too and she also provides webinars on how to trade perfectly without losses, I don't have much to say about her but I'll advice newbies to place their trades under her services

[@frankalex7485]

[@Andrewjames0]

I thought I'm the only one that knows her well I guess her good reputations speaks for her now

[@xman666soad]

That’s heart breaking. God bless her with peace.

[@PInk77W1]

I was in close to her same predicament. What I did was go on Zillow and typed in $30000 max and went state by state till I found a home in Coleman Tx for $23k. I paid cash. So blessed

[@justhere3794]

Smart move. Nevermind about the past. You fixed it. Enjoy your home!

[@PInk77W1]

@@justhere3794 yeah I can’t believe how much of a 180 I did.

[@lkords2259]

Sadly this isnt unheard of 😢

[@fb-rp4cb]

Our household has student loan debt at 61. The only way it will get paid off is to die. We were caught in that exact scenario, mid age career change, advanced education did Not produce increase income, no chance to change it now age discrimination is real

[@lilred00051]

Thank you ! I'm so tired of ppl thinking it's just bad decisions leading to student loan issues. I got very sick in my 30s and the interest caused my loan to double. I will never own a home unless this loan gets forgiven.

[@mhodge0890]

At this point don’t even pay it. You’re 73

[@fatimamanneh9432]

Government can garnish his SSI check

[@phoneuse2012]

Yea… they will get it one way or another

[@MrJimmy3459]

You do realize these loans are not bankrupt able right? There is no age forgiveness

[@CroisMoi]

If you have student loans, you will not get your social security. He needs to get a second job and get on this.

[@dungeonmaster6292]

Start working under the table. Phuck these risky lenders

[@edwin768]

Damn that really is sad she went to school in her 50’s 20 years later now in her 70’s still paying student loans sad world we’re in

[@aolvaar8792]

??? ROI

[@RJWaynerium]

Sounds like that person is very irresponsible with their money

[@santaclaus3077]

What does the world have to do with anything? This person did this to themselves.

[@alfre4554]

I have 37 year old friends with student loans and it boggles my mind.

[@martha7811]

Yeah. Wow. She's asking "should I rent or buy" at 73?

[@Michael-xm4ux]

76 lol. Late by half a century

[@Michael-kv5ff]

​​@@Michael-xm4uxhe's 76 he's 73 in 3 years

[@CroisMoi]

It is too late. She has to live in a senior apartment and work two jobs until she drops. She does not have the luxury of retiring.

[@dungeonmaster6292]

It's over. They'll shovel her corpse out from a pile of cardboard boxes at Walmart

[@ryankiel4895]

Sad but true. She'll never be able to stop working. She is screwed.

[@mehdirahan6943]

God bless ya Robin, we believe you'll do well.

[@michelejohnson6459]

We do?😢😮

[@juanrocha8544]

This is depressing. Imagine if he had invested his monthly student loan payment since 2005 instead. Sad.

[@sallywoods6575]

This is clearly a woman.

[@XennialGuy]

It's really sad when everyone thinks you're an old dude when you're really an old woman.

[@TonyCox1351]

@@XennialGuyI don’t really think that’s that sad in your 70s. People start to look and sound the same by that age

[@XennialGuy]

@@TonyCox1351 It's still sad.

[@TonyCox1351]

@@XennialGuy honestly, sad would be worrying about what other people think of your voice in your 70s

[@doriangates9918]

This has to be one of the most chilling calls I've heard yet

[@Afrinaturality]

I really feel sad for this person and I hope something turns around for her. To be in this situation at that age. When does she get a chance to rest? What retirement?

[@michelejohnson6459]

She decided to live life to the fullest 😊

[@July.4.1776]

The hiring manager thinks this person is too old to work they should be retired. They would not say it, but that’s what they are thinking. It’s a shame that they take advantage of those that are too old to get any useful employment out of that degree.

[@HB-fj3ii]

I honestly don't know how this woman will ever be able to afford to purchase a home. Mortgage, property tax, insurance, utilities, maintenance? No. She should spend the next three years saving as much as possible, and then rent a modest room once she retires.

[@hgh5762]

Yep. And get on an income based repayment plan for the student loans which now would only take 5% of her income. Then save and put everything into an index fund

[@pamelaburleson2063]

I'd suggest she look for a Golden Girls type situation.

[@dannylengyel5830]

@@pamelaburleson2063 Or move to a cheap country in retirement.

[@MultiAnne36]

And thats why Im stuck in my job. Most decent paying jobs require a specific degree in that field. I was a SAHM and then finished college around 40. Payed that loan off and cant go back into debt to switch careers. The job market is a big game where you havd to buy your job with a degree, noone will train you anymore and State regulations require a lot of licensures or certificates, etc.

[@TerryOnDemand]

At that age, I would buy a mobile home or 1 bedroom condo and call it a day.

[@georgewagner7787]

I'm 61 with medical issues and I did this. I wanted a two-family home but I settled for a three family and my part is small. But prices had doubled since covid and I needed to get it done

[@gracenotes818]

Does she collect Social Security? Is it possible that she does not know she should have been collecting this since age 70? This was not even mentioned.

[@lagarde2011]

It should have been the first question they asked. The caller was estimating his (presumably future) payments so he must not be collecting already.

[@markg999]

You are right that's totally messed up if she hasn't been collecting for years. They bungled this call

[@donnabollhoefer2931]

Good point. At full retirement age, you can collect SS and a paycheck (without losing any SS).

[@deeplansandbudgets]

Mortgage goes up every year as well as property taxes go up each year in many places equal to the amount that rent goes up. Also, if you rent, you do not have to have emergency funds for home repairs and you can always try and move to a cheaper place if you need to. This is a sad story.

[@tawandamaidentyus9144]

Some groups of people are required to have a college degree in order to qualify for specific jobs and / or be eligible for promotions. This has stuck with some groups and it must stop.

[@spencerandersen5506]

Poor Robin 🥺, god bless her, I couldnt imagine spending my whole life and have nothing. Good habits need to start early. Im glad she got ahold of Ramsey just wish she called earlier...

[@ROCKETS2965]

Part of me feels bad for this guy because he’s completely screwed, and part of me wonders how you could be that stupid with money for that long.

[@mandysimmons2769]

I might look around at Elder Apartments just as soon as the student loan is paid off. Many of them are subsidized and fixed rent. At least it seems like there's no bunch of credit card bills too.

[@mandysimmons2769]

@@Brookm-e2q good point. Not sure if there's any safe place to live anymore. At age 53 I finally got out to the "safe burbs" and armed car burglars came around at night to take cars and they fired a warning shot at our neighbor lady who had confronted them. A really nice subdivision had a follow home robbery turn into a murder too. Any safe places now?

[@DavidWilliams-vc2ms]

The last thing on her mind should be buying a house! It sounds a bit wild to jump into a 30-year or 15-year mortgage at her age. It appears that she neglected to prepare or care about retirement in her younger years. Now, at the age of 73, with no savings or 401k, she is talking about 'going hard on paying off debt?' Dave is basically saying, 'Just work hard and pray at this point'.

[@sblijheid]

She understands that a mortgage is better than renting. That's a good thing. If she keeps renting, she'll end up homeless because rents always go up, but mortgages are quite stationary aside from insurance and property taxes. If she moves outside the city, she might get a better deal than the nothing she has right now

[@redfox_84]

​@@sblijheidBetter than renting, but there's the maintenance and upkeep issue. Renting that is all covered.

[@deniseyweesy]

She needs to get into a senior apartment

[@DavidWilliams-vc2ms]

@@deniseyweesy exactly!

[@Sexy40baby1]

​@redfox_84 maintenance is covered but only fixed "if" you have a good decent landlord. There are some major horror stories from renters. I'm personally scared to be a renter ever again. They don't want to fix the ac. Their maintenance workers put holes in the wall supposedly fixing leaks and don't cover the holes. Landlord don't want to release you from the contract you sign. You leave the place immaculate and they still won't return your deposit. Sometimes it's best to not rent and buy just for peace of mind

[@mindys1198]

Chances are her medical that is going to increase significantly after she retires it does for many people

[@LWin-ps8jp]

She may have to work beyond 76 part time, along with her SS. Cut out anything she can. I'm even going to say she needs to use food banks to supplement her food costs. Use any senior program she can. Maybe look at getting on the wait list for hud housing by the time she retires her income will drop enough to qualify. Or look for a living arrangement with an other senior.

[@DistopiaKosaki]

Just retire abroad

[@greeneyedbaldy]

I decided I wanted to become a registered nurse when I was about 33, I went the community college route which took several years but only cost me about $5,000. I could have gone to a private nursing program which would have taken a lot less time but would have left me with about $100,000 of student loan debt give or take. Had I been a younger man I might have gone that route, but as an older student, my saying was, "I don't want to be collecting social security and paying off student loans at the same time."

[@SquirrellyShenanigans]

and the thing is, community college nursing programs are just as good as these private nursing schools. at least the CC near me is excellent with a 98% NCLEX pass rate, and my daughter will start the nursing program in the winter there, for a fraction of the cost.

[@robertcohen1888]

Somebody sold this poor woman, a horrible bill of goods just to get her to take out a student loan to give money to their shady as F school

[@chloerodgers692]

that’s a woman? I thought ti was a guy

[@texasfly8865]

Thank you both ❤

[@ryanwilliams989]

My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[@StellaMaris-lv2uq]

It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.

[@maryHenokNft]

Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.

[@maryHenokNft]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@maggysterling33254]

@@maryHenokNftKudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?

[@maryHenokNft]

The decision on when to pick an Adviser is a very personal one. I take guidance from *Gertrude Margaret Quinto* to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@OutdoorsSky1]

Glad I paid my way through school and left with no debt.. Hard call to listen too.

[@benjaminatterberry1843]

I was told in high school that I should go to my dream school and major in whatever I want. The teachers said that student loan debt doesn't matter. I'm glad I didn't buy into that nonsense. I graduated debt-free with a chemistry degree from a public in-state university. Then I got accepted into my first-choice graduate school. Now I'm 25 and I'm about to graduate debt-free with a PhD in chemistry.

[@catherinep2034]

Those teachers getting paid a commission? Lol

[@I_Lemaire]

Congrats, Dr Benjamin Atterberry

[@RepentImmediately]

Nice

[@cazpk6840]

Do not take out any loans after you turn 50 !

[@cabayern9416]

I know a 60 year old teacher with no savings, poor credit, who lives paycheck to paycheck, spending on a PhD, and trying to buy a house. These people have no common sense.

[@mikenelson8377]

Why worry about a credit score? A meaningless number won’t put food on the table. This person is old as dirt and a number is something he or she should NOT be concerned about 🤦🏼‍♂️

[@Big-Government-Is-The-Problem]

dont be an idiot, getting a 3% mortgage when it was possible for a home is a great idea and will get you into a home asap so you're no longer renting while trying to save up 200k or so for decades to pay cash for a house. i agree with dave on most things but its just asinine to act like a low mortgage rate is a bad thing... this person has no chance of saving up even 100k for a cheap home, but they could have gotten a mortgage when they were low. even at 7% which is awful, you can try to pay down the debt quickly which is better than rent which is money up in smoke, and rent will raise by like 10% every year anyways @@mikenelson8377

[@goofygirl1311]

And these are the people telling our children that they should follow their passion and go to their dream school - whatever they want to do!!! Cha-ching! Like money grows on trees and there's a magical forgiveness fairy who will waive her special wand and make their enormous student loan debt go away.

[@redfox_84]

Don't want to buy a house if you're already broke. Enjoy the maintenance bills.

[@tdgdbs1]

Meaningless? It determines how much you pay for car insurance, mortgage, car loan, where you live...basically your quality of life.@@mikenelson8377

[@jesussaves89]

So sad. Many older people i see are in poverty because they had debt and didnt make wise financial decisions or health issues. The system is denied to screw you. Pay off as much debt in your 20s and 30s as much as possiblw

[@amq440]

That poor woman. I give her a lot of credit for trying to make some kind of plans for her future. There but for the grace of God go I …

[@LMae-rj9qi]

Amen

[@cosmomontanaro5759]

73 with student loans = defeats the purpose of education.

[@daretoglow1182]

Dave was way too nice! He should’ve opened their eyes to what’s coming. There is no way retirement is an option. Agree with other folks here that the life clock is ticking and maybe moving somewhere where the cost of living is cheaper may be a better option….

[@voidfroze]

You think they don’t know that? They’re probably terrified. He did a great job of letting them know what is still left in their control.

[@tubenachos]

Probably New Mexico, Alabama, Mississippi and Arkansas are low cost options 😢

[@SVSky]

@@tubenachos Mexico, Costa Rica, the Phillipines is more where she's gotta go.

[@billdursa4976]

Midwest like Ohio or Pennsylvanis have a low cost of living.@@tubenachos

[@BluntBlowinn]

@@SVSkyisnt costa rica the most expensive central american country? 💀

[@SarahB1863]

3:13 It's not necessarily true that if you buy a house, your monthly payment is "locked in" and never goes up. If your local schools or government passes a levy, your payment will go up. Not to mention if you're renting, sure, your rent will go up every year BUT you don't have to worry about replacing appliances, your roof, shoveling snow, mowing the lawn, paying for gas or water lines that the city decides need to be replaced, etc. Also, buying a house is pretty permanent - you can't just move if you want to like you can if you're renting. There are benefits to both renting and buying; neither is better than the other. It all depends on the individual's circumstances.

[@fluffycolt5608]

People who rent don't have to shovel snow? Where?