I'm 64 and Can't Pay Off My Debt

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Business, Investing

4.5 • 838 Ratings

🗓️ 1 May 2026

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.6	My question is about debt relief in a low-income situation.
0:12.3	Okay. What's your income?
0:16.0	I get Social Security disability. I'm been, I'm 64, and I have been getting Social Security disability for two years.
0:29.3	Which is how much?
0:30.4	$2,700.
0:31.9	Oh, $2,700 a month, okay.
0:34.5	What's the nature of the disability?
0:36.2	No, a year, $27,000 a year.
0:38.3	Oh, $27,000 per year. Okay.
0:41.3	Right. And that includes a small pension.
0:48.3	Okay. So...
0:50.3	And so you're making $2,500, $2,300 a month. Okay. And how much is your rent?
1:00.3	It's about $1,700 a year, a month, rather. And I live in New England, so it's just rent up here. Crazy. I don don't care I don't know how that math works
1:15.6	2300 minus 1700 equals Sally doesn't have food
1:21.6	right so I have about eighty80,000 in between an IRA and an equity account.
1:33.7	And I keep drawing off of that, you know, to make ends meet.
1:41.3	What's the nature of your disability?
1:47.0	It's been everything. Physical, a lot of physical stuff, heart problems, mental disability, depression.
1:57.0	I mean, I'm being honest, you know.
2:00.0	So... What keeps you in New England?
2:06.7	I have one adult daughter.
	...

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