I’m 73 With Student Loans and No Retirement!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 26 September 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode features Dave Ramsey & Ken Coleman. The Ramsey Show Highlights 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, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.3	Robin is in Phoenix. Hi, Robin. Welcome to The Ramsey Show.
0:10.9	Hi. Thank you, gentlemen, for taking my call.
0:14.3	Sure.
0:14.6	I am going to retire in about three years at 76. I have no neutral funds and no 401k. My question is, should I buy or rent at that time at 76?
0:34.1	Okay. How would you be able to buy if you don't have any money?
0:38.3	Yeah, well, I've got these, I've got time. So currently my income is 4,500 a month. 2K is going to rent. 2K is going to studio loans and 5 and I spend 500 on daily on debt living you know living expenses
1:00.5	you're 70 years old and you have a student loan yes I haven't paid it off yet but I I will pay it off. It's expected to be paid off in March of 24.
1:18.5	Okay. What's the balance on it?
1:21.6	12,000. So I'm paying $2,000 a month on that.
1:28.0	Okay.
1:28.8	Okay.
1:29.6	All right.
1:33.4	I'm really curious how you end up with a student loan at your age.
1:34.2	How did you do that?
1:38.4	Well, let's call paying the interest.
1:42.8	I paid the interest only for a long time. What's a long time?
1:46.1	Since 20, since 20, 5, I guess.
1:52.9	That's what I graduated.
1:54.2	You graduated in 05, so you graduated 18 years ago, and you've been paying.
2:01.4	And your degree is in what?
2:05.0	That particular degree, I've got some more since that time,
	...

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