We Have a Ton of Debt & No Retirement (Hour 2)

The Ramsey Show

Ramsey Network

Business, Education, Investing, Self-improvement

4.6 • 36.7K Ratings

🗓️ 7 June 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & Dr. John Delony answer your questions and discuss: "We have a lot of debt and nothing for retirement", "I'm upside down on my car, what should I do?" "How much should we put down on a house?" from the blog: How Much Down Payment Do You Need on a House? What to do with an old pension plan, "Should we sell our condo?" Support Our Sponsor: PODS Moving & Storage BetterHelp Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Join a Personality-led FPU class. Click here! Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	we
0:24.0	Live from the headquarters of Ramsey Solutions broadcasting from the pods moving
0:32.1	and storage studios. It's the Ramsey show where we help people build wealth. Do
0:39.9	work that they love and create actual amazing relationships. Thank you for
0:45.4	joining us. Dr. John Deloney Ramsey Personality is my co-host today. Open
0:50.2	phones, a triple eight eight two five five two two five you jump in will talk
0:55.2	about your life and your money. It is a free free call. Johnny's with us in
1:00.7	Boise Idaho. Hi Johnny welcome to the Ramsey show. Hey guys thanks for
1:05.1	having me on. Sure. How can we help? So I am a self-employed contractor on 46.
1:12.5	My wife's 40. We don't have anything safe for retirement. We have an auto
1:17.6	loan, a mortgage, a little bit of credit card debt and we're just wondering what
1:23.0	the best plan moving forward is from Canada. We have about 110 in savings. Okay so
1:30.5	how much debt do you have not counting your house? I have a truck loan that's
1:35.3	there's about 40 left on it. Okay and that's your only debt other than your house.
1:40.0	Yeah a couple thousand in credit card but we usually pay that off every month.
1:44.0	And you have 110,000 in savings and cash. Not counting retirement. I have no
1:52.0	retirement there's no 401 nothing. How old are you? I'm 46 and my wife is 40 and
1:58.6	she stays on she's not in good. All right and what's your household income sir?
2:06.1	It varies but I would say it's probably around 90 to 100. Good. Okay. All right Johnny I
2:14.9	get the sense from the words you're using in the way you asked this question that
2:19.3	you're fairly new to this whole Ramsey discussion about money. Yeah. Okay all right so our
2:27.9	whole thing is when I was in my 20s I went completely broke because I was stupid and I went into
	...

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