I'm 62, $79,000 In Debt, And Have No Retirement
The Ramsey Show Highlights
Ramsey Network
4.5 • 840 Ratings
🗓️ 3 March 2026
⏱️ 9 minutes
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| 0:00.0 | Brought to you by CHO, a budget-friendly faith-based alternative to health insurance. |
| 0:07.2 | CH Ministries.org slash budget. |
| 0:10.4 | I'm 62 years old and about ready to claim Social Security, but I have about $79,000 |
| 0:17.3 | in debt. |
| 0:18.3 | And I got a letter from the consolidating to |
| 0:21.7 | consolidate it by stopping your credit cards and so that was the first |
| 0:26.5 | question I've kind of listened over and looked at the show it doesn't you |
| 0:33.1 | know like that's a bad idea from what I hear you guys say or is it a bad idea or and I own three |
| 0:40.1 | houses okay tell us about those one of those houses I'm going to go short answer likely yes |
| 0:46.7 | short answer yes debt consolidation it is not the answer to this situation it rarely I would |
| 0:53.9 | never suggest it as the answer. The reason |
| 0:55.9 | is what it's doing is something you could do, which is not pay your debts, pull the money, |
| 1:01.6 | and then when they're ready to settle, now you can make a settlement. That's all they're doing, |
| 1:05.0 | and they're just doing with fees attached. So you don't need help doing that. Tell us about |
| 1:10.6 | the three houses because your |
| 1:11.7 | solution is likely there. Well, the thing is, I have renters, and I rented forever. And to sell one of |
| 1:21.0 | the houses, I'd have to be putting a family out. That's true. And they really aren't in that |
| 1:25.9 | position. And so far, I haven't been able to do it. |
| 1:30.5 | And I have problems there just because they have five kids. |
| 1:34.4 | Are your prices competitive? |
| 1:36.1 | Or are you giving them some sort of a deal that they wouldn't be able to get elsewhere? |
| 1:40.8 | I'm probably very, I'm very well on that house that I would sell. |
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