I'm 71 Years Old With No Retirement Savings

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 25 August 2021

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Christy Wright, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.7	Joining me today is Ramsey Personality, Christy Wright.
0:14.8	Janice is with us in Oklahoma City to start this hour off.
0:18.3	Hi, Janice.
0:19.0	How are you?
0:20.6	Hi, Dave. I'm doing okay. I'm really pretty,
0:24.7	very concerned about my finances. I'm 70 years old. I have no retirement. My husband and I, neither one, have a retirement.
0:40.2	We are not in agreement about what we should do with the cash that we do have.
0:46.7	We have $25,000 cash, no CDs, nothing, that's it.
0:54.4	The question is, we owe $27,000 on our home,
1:00.0	and the value of the home is about $250,000.
1:05.1	We have $11,000 debt on a car.
1:10.3	My husband wants to take the money that we have and pay off the car,
1:16.6	and then he says apply the $350 a month car payment towards paying off the house. My problem is I'm so
1:25.9	stressed. I at least want to have a house to live in.
1:30.2	And the way I see things, I don't think I can live anywhere cheaper than where I live right now.
1:37.3	I don't think I could even live in an apartment for what we would be paying a month on our home.
1:44.3	So I need some help here.
1:47.1	What are you living on?
1:48.9	What's your income?
1:49.9	We have $2,000 a month Social Security combined.
1:56.5	I have some income that I get above that with a job that I have that is pretty physically challenging.
	...

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