Retired and living on my SS while taking 600 of it a month and adding to my silver pile. Along with freezed dried can goods.

​@@musicman7297and?

Right

Sometimes I feel guilty for having a lot of student loan debt, even though I went to community college for two years so I am better than most. Then I am learn I am also not at six figures in credit card debt.

I agree. It is comedic and educational to us.

Keeping up with the Jones is very expensive. LOL 😂

She probably goes shopping everyday, buying junk

Addiction: gambling, shopping, d-rugs, booze, whatever.

Exactly

I couldn't even begin to spend that much.

Exactly!

That reminds me of people trying to figure out how others can afford to go to Disney World, or go often. I don't have kids yet and went several times with my parents or just my mom last year, but I'm debt free and did not need to take any money from savings...I just used my paychecks. I'd feel too guilty to enjoy a vacation I hadn't paid off yet!

Delusion and living in denial. Not facing their reality, kicking the can down the road

I often thought the same thing with people like this. I think the answer is that when you're that much in the hole your mindset becomes, "Whats another 10k on top of the existing 117k? I'm f'd anyway." This is why you should never go down that rabbit hole. Never owned a credit card in my life.

I wish i had 13000.00 a month coming in.... I only bring in a third of that and retired early !!!!! 😁

They're never retiring. Some people just can't ever think ahead.

Most people think reitrement is an age, not a financial situation.

Indeed. Another thing that is shocking is that she stated they have nothing tangible to sell or is of any worth, despite being in $127k in credit card debt alone. It boggles my mind how people can be in that much debt and have nothing really to show for it.

If they really bring home 156000 a year that is 780000 they can be debt free includine the mortgage and 100000$ in the bank in 5 years

I thought I misheard that… she’s delusional if she thinks she can erase 500k in debt and, then save enough for retirement, in 5 years time! Unless her family’s combined income is around 250k per year and they live on like 10k a year… even then, ain’t gonna happen in 5 years!

Right

I’m stressed out even when I owe $5.00, I cannot sleep knowing I owe someone or credit card.

Same

@@Carmen0777 lol $5.00 that's extreme. you'd barely pay any interest on that and can pay it off in a heartbeat lmao...

I pay my CC in full each month (don't get wrong there was a time when I had CC debt and I worked my rear end off to get it taken care of and now I am doing the same with student loans).

$127K

And then buying an $80k car in 2023, ridiculous

They were living large.

do you bring in 13k or ever wish to achieve that income?

Not insane, just gross stupidity.

She doesn’t deserve to retire. She lived her best life in her 50s thinking tomorrow would never come.

@@dslunsford1 She lived her best life from 18 to 59 thinking tomorrow would never come. Absolutely no long-term planning skills whatsoever.

​@@Joe-ku1ko"She lived her (...) planning skills whatsoever." Why not 0-59?

Based on their income I see a way out without selling the house. BUT they're NEVER going to do it. They want to live like they're making $200,000 a year when they're making about $150,000 a year. No chance they're giving up that much of their lifestyle. Bare minimal living would get them out of their mess, probably, but they would have to do that for years and I doubt they'd be able to do that for a few months.

I got a little sad when I paid off my student loan (decades ago). It was like shutting closed the last door to my youth. But would I pay it off early again? Absolutely.

Congratulations

Awesome!

Congratulations

Congratulation!!

yup same with the fancy weddings, kids, and the houses. They are all chasing the American Dream that so few can afford nowadays

Same. Makes me feel better about driving around my anesthetically unpleasant car. At least I have no payments on it.

I know exactly what you mean. I can park my old pickup truck beside some European luxury car at the grocery store and feel envious, or I can walk inside with the peace of knowing that I probably have the greatest net worth of anyone there.

Well said

Same. It's like preventative therapy for me.

I learnt my lesson pretty young.. thank god!

Yeah, that interest alone will definitely slow down the pay off for them. They need to wake up and realize that they created a terrible mess that will now affect their retirement.

😱😱😱

this is why i stay away from credit cards

​@angel-ij4xv love my credit card, a lot of the time mine is in credit 😂😂 never had credit card debt. Low salary live within my means.

More then 1200$

Only $150k... 😂😂

I’m so happy you were able to change before it was too late

Debt is not something to fear; it’s how you use it.

⁠@@leprechaun367799.9% of the people don’t know how to use it!!

$150k is a sizable household income and people should have no problem living comfortably on it. But they shouldn’t be buying luxury cars unless that’s literally their only indulgence.

AND that "thing" that you bought isnt even fun any longer its boredom, and being miserable in life that causes this crap. you heard her say vacations they shouldnt have gone on. Thats trying to "get away" from their life....then the debt slaps them in the face ........

Ouch😅

Financial Darwinism

They were living a 3x income lifestyle...

I find it interesting that their family and close friends didn’t say anything about this. Maybe they have and told to mind their business. I’ve been told this a few times years ago by people who are broke,in debt, and unable to retire now.

Inde3d

OR - maybe that 90 yr old never made more than minimum wage and thought social security would take care of them in retirement. (just uninformed). Sadly SSA benefit at that level is only around $800-1000/ mth.

@@curiouscat3384 When I do retirement planning for me, I don't even factor in SS. I just factor in what I am saving in my IRA.

Some just like to work a bit to get out on a regular schedule, feel productive.

Bro if you spend 90 yrs of your life and necer put the effort in to learn a skill that pays above minimum wage than that is 100% your fault. Disregarding special needs people, handicapped, disabled etc. ​@curiouscat3384

150 net

Why is it these brain dead people make really good money?

She said at the end of the video she knew that was not possible. Watch all the way through.

W that much debt I don't see it happening. Only works if they were paying bills w one n saving one full salary.

"Put 62 degrees heat and 85 degrees cooling." Preferably not in Celsius.

I started at listening at 16 too! Never got into debt and I’m almost 24 now with 30k in the bank. You got this!

Ya'll already ahead of the game young man. 👌

the fact that youre watching this video and also that your profile pic is a sunrise .. you are very much on the right track bro

@@jkstudent222 well, i’d love to believe that. being i’m still 16, it’s gonna be hard to begin some of these steps as I don’t yet have a solid fluent income stream, but once i do and really can manage everything better, hoping to end up on the right track 🙏

You are lucky to have found this at 16. Keep your eyes open and be smart. Keep it up!

Incredible, congrats that’s awesome!!

Make sure you put money aside to pay the tax, and check with your accountant to see if you have to pay quarterly estimated tax. If you wait to pay the tax until April, there may be penalties and interest.

28k for a Civic??? That had better be an Si! I paid 21k for my Si in 2013.

@@eplugplay8409hahahaha thats good

⁠​⁠​⁠@@AverageJoeDividendsat $28k, that’s an EX or possibly a Sport. The Si’s are up to the low 30s now, as are the tourings. Nice cars though, in addition to still being economical to own.

It’s beyond a budget issue. It’s behavioral issue and they need serious counseling to help them with decision making.

Exactly, then they look down their noses at people like us who have a mortgage paid off, yet drive beaten up 20 year old Toyota Camry with 250k miles on it. My wife has many friends.that are like that

@@scotttracy9333 Good for you. If life hits you (sickness, accidents, unemployment) you will at least not have major financial struggles. The freedom if you know you COULD throw in the towel at work (collegues, customers and last but not least the boss). Most people never do it but even the feeling that you do not have to put up with it if it really gets bad - because the house is paid down and you can switch to a very modest lifestyle to live in less if unemployed.

Exactly, volunteer to be a little uncomfortable when your young and healthy and you won't be forced to be very uncomfortable when you're old and frail.

Nah, I feel bad for them because they are slaves... slaves to their impulses.

The ones I know but designer clothes, purses and shoes. I don't feel sorry for them. I was always frugal bought used cars.

Correct.

Exactly

Breaks my heart when parents dig themselves into a whole for their children. I get it, but not at the peril of my retirement. There has to be a line.

We live in a society of simps. They always tell the wife yes instead of no because they don’t want her to get upset and take sex off the table.

That's the issue. It's sad because they make great income. Living within your means is so negative now but millions of people are in debt.

I'm so grateful that God opened my husband and my eyes over 8 years when we did the FPU. We are now debt free, except for our mortgage. 🙏🙏 These Americans doesn't like debt.

Selling the home is a dumb move. She lives in FL. She needs to file a BK.

@@nyht727 why selling the home is a bad idea?

@paulmerriwether6207 With an income of $13K/month and total consumer debt payments of $4700/month, they won't qualify for bankruptcy.

@@BrianW211 We ALL qualify to file a BK. Either 7 or 13!!! PLEASE!!! And the house cannot be taken away. It's FL & protected. Have you forgotten about Burt Reynolds’ 1996 Bankruptcy in FL?

@@BrianW211 This is what I would do ... 1) stop paying all bills. 2) HIDE my money is a shoe box! :) 3) File for BK when the time is right. 4) When creditors call I'd tell them i have NO MONEY & no job! SUE ME!!! They'll want to negotiate and many won't do anything! They expect a certain amount of losses. 5) Rich people file BK's all the time & HIDE their money & lie in court it's gone. 6) So why should she be any different? 7) Ask Trump about filing BK's! :)

I say she take the dealer's offer.

Damn. Me too. I have 7k in credit card debt. And like 90kcredit limit. I feel horrible having that balance . I can’t imagine 127k in debt 😮

I could lit sort my life out and earn more if I wracked credit cards but these channels taught me better thank god lol. Just gotta grind and budget

It is a lot until it’s zero.

Besides my family (no kids for me but an amazing niece and nephews) and a few closed friends, I don't get Christmas gifts for anyone else. I will do a grab bag gift at a luncheon each year (which sometimes is a regift) a few small gifts for my students I tutor (never something more than $5) but that's it.

this is why i stay away from credit cards

She knows you'll be a good son and secure her a happy retirement. A monthly allowance of $4000 or $5000 plus her SS should do it

Yep, she knows he probably has a good job and knows he won't leave her out to dry.

YOU are the retirement account

@@rudyardganuelas6254 Yep. Seems that way.

you don't need the stress of having a credit card if all you're putting on it is $200

💯

I heard her say that some of their expenditures were helping out their kids. Hope those kids are willing to help mom & dad after retirement!

why? she put herself here, knew for literally years this was coming and did nothing and NOW she's looking for an easy way out so she can "retire in 5 years" - she should have been scared when she was BUYING the $80,000 car.

Me and you both bro. $13k monthly is a significant income. The irony for me is that understanding money isnt a prerequisite to earning money.

I can't fathom taking vacations with so much debt, charging them ALL on credit cards to make the situation worse, buying expensive brand new cars, and still somehow expecting to retire by 65. They are doing the complete inverse of, "Live like no one else so you can live like no one else."

New statistics show that around 51% of people making $100 or more per year are living paycheck to paycheck… it’s because of lifestyle creep… you make more, you spend more.

@@mastafull most of America is living like this and consider it normal.

Really do you not see how others live? People with larger incomes think they need to show others this and thjnk they can live this large as they will always have money to pay it off. This is the American way with so many.

Yes Mitch, 30 years ago my husband and I were clueless about money and were in the same place. I've never felt such terror in my life. Let's pray for this woman and her husband that God will heal their approach to spending. Something that helped me is when I realized that if God wants me to have something, He will provide the money first - although in honesty I've gone about $1,500 over my monthly budget since Christmas.

Not needed. They put down themselves.

great,,@@macpduff2119

Shes got children who will do exactly the same. 0 sympathy

I agree

My thoughts exactly. But my only fear for them is bankruptcy wouldn’t fix the actual illness, which is their shopping addiction, and land them back where they started. It’s a risk for sure. Or sell the house.

Bankruptcy you never learn. Root cause is yourself. Time to pay stupid tax and learn something before your right back into it

They are making 13k per month. They wont let them bankrupt, will they?

@@lagarde2011 Or as others suggested they have addiction problems: Shopping, alcohol and drugs etc ..

John did go there towards the end. He said she will have to accept that she will be working until she is in her 70s unfortunately. They also said they will have to sell their home too. So their lives will definitely change. She said she is willing to do anything. Her voice tells the fear she has. I hope they can do it.

They could tho. If they sold the house paid off the debt. Saved aggressively. They're ssi will pay a small house payment or rent in retirement. They need to sell.

I like the optimism. Selling your house to pay off $130k in credit card debit, and you better get your ass to work for the next 10 years. I don’t even take ssi into consideration for my life plan.

🤡🤡🤡🤣🤣🤣

That’s their monthly income.

I can’t even imagine making that much monthly 😳

​@@eclipse.5295 Crazy that still wasn't enough for them to live the life they want and felt the need to go into credit card debt.

I agree advice was a bit chaotic. They were overwhelmed by the debt. The car needs to go though. 80K becomes 20K( Dave always asks about make of the car. It's good to know what people are falling for.) Selling the house is mathematically easy option not so emotionally. Dave 'd ask if they like the house.If they do they have to budget 50K a year for the next 5 years or so. It is a good lesson for a bit younger listerners like me.(I am 49)

they have other consumer debt. 127k was just the credit cards

Yes, let's pray for this couple. She is beyond the point of rebuke or criticism

Me too. So sad.

I know. It happens twice too! I had to replay the video to make sure it wasn't for me.

I looked at my computer thinking someone sent me a message. Lol

😂

I had to replay the video to make sure I wasn't hallucinating.

I feel bad because they and their kids coulda had a wonderful life. Its sad they are in their late 50s and are half a million in debt when they could easily be millionaires

Yup. Majority keep ignoring this blaming everyone else but themselves.

You get it

The American dream is owning a small home and raising a family on property you own with a bit of secure assets. It isn’t owning a boat and paying for multiple elaborate weddings and having an $80,000 car and a nonstop succession of home improvement items you aren’t willing to sell. That’s just vanity.

@@adamseidel9780 Yeah people have gone from bunk beds to one bedroom/bath per child in the past 20 years.

I love it, who makes these BAD CORPORATIONS so Rich,,,,, WE DOOOOO!!!

Lifestyle creep is a reaaal thing.

People make choices. Those of us who live frugally and invest deserve to enjoy a carefree retirement.

People make choices. Those of us who live frugally and invest deserve to enjoy a carefree retirement.

Everybody deserves that. @@genxx2724

Yeah shifting as much as you can from 20% interest is going to help you with that snowball

Good catch Hairy Tornado. I love your content on KZfaq.

She tried and didn’t get approved. They are telling her not to use her credit cards because interest is too high.

TrueTrue... Call her back boyz and fix what you said.

Dave gives credit union advice

Bingo this is about the time corporate American looks at these people as healthcare cost liabilities.

Ouch

Yes. They are at the age where it is too late to make a major career change. Costco might hire her for $16 an hour but that won’t solve anything.

Why? They bought an 80k dollar car.

This statement is BS. The fact that it has 82 thumbs up is so disheartening. Let's not focus on the absolute greed of this woman and her family and instead on some hypothetical company being "evil". These people earn 13k per month! They are not stupid. They knew what they were doing but didn't care.....and now all the SJW come out of the woodwork and "feel oh so sorry" for her. She and her family are the reason why responsible people can't have nice things, not corporate america. The gall to call this show and shed crocodile tears for running up 127k in credit card debt is borderline sociopathic. If I feel anything for this person, its anger for being such a complete and utter douchebag.

Not really, I've done it. The bank has the title. Once you agree on a price, the money pays off the loan and you get anything that's left. The bank will release the title to the buyer or their finance company.

Excellent point. They also can't stage and sell their house

The problem is they owe $88,000 on a car that Kelley Blue books for $56,000. No private seller is going to overpay that much so they've screwed the pooch

@@monroe7403 I think what OP meant was "when you can't get the title to it". They are going to sell it for $58k but they owe $88k. The bank isn't going to release it to the buyer for $58k. How do you sell a car that you can't pay off even after you have accepted the money when you sold it?

It’s not really suffering. They already had more than their share of enjoyment.

@@genxx2724 Suffering because of their ignorance. I learned a long time ago working in financial services that just because you earn a bunch of money doesn't mean you are smart with it. My guess is they knew they were living well beyond their means but didn't want to face it till now.

It didn't hurt bad enough years ago.

I see people just making the decision not to think about retirement funding because it isn't fun. They just want to enjoy life and not think about retirement...other than "I want to retire early". @@BrianW211

It won’t even be that bad. If they sell the boat and car and still live on a generous $5k a month they can throw $8k a month at their debt and be done in something like two years. It’s gonna kill this lady not to go on vacations, drive a fancy car, eat out, or buy a new piece of furniture every week though.

I’m 64 and I still work (because I want to, not because I have to). I can’t imagine my survival depends on me having to work overtime at my age.

Yeah crazy right. You are blessed but yeah people like to live for experiences especially not and just don't think about their future/retirement. I rather die with too much money, than too little, you just can't live like there is no tomorrow. Always always live within your means, it's really not rocket science.

I feel you; I'm literally thinking about every damn purchases I make because it's so expensive now

Same here

I’m sure it’s multiple cards.

@@genxx2724 It must be , I have a 50k limit on my Mastercard but 127k is wild so must be across several cards.

Decades ago, I bounced a bunch of debt around for awhile on zero interest cards to pay it off, but I neglected to cancel them as the deals ended. Eventually I had $100,,000 in credit on these cards, and this was 30 years ago on a modest salary.

It's only trading one set of problems for another.

I don't think they would be able to file bankruptcy cause they make too much money. All they need to do is change their lifestyle and quit spending everything that they make. Bankruptcy won't do anything for them if they haven't learned their lesson and they go back into debt in the next 3 years.

They do not qualify for bankruptcy

They can easily pay their debts, they just have to stop fucking around and actually apply their powerful income to paying down their debts and selling their toys. They are not a bankruptcy candidate.

Dave would’ve gave better advice than these two bozos

Weak comparison. You also have to take into account cost of living.

@@spankynater4242 argentina it's expensive

@@spankynater4242 costo of living in Argentina IS EXPENSIVE

I totally agree that they should NOT sell the house. The associated fees with a house sale and move makes no sense

​@@macpduff2119 Agree. And a good chance their new house payment would be higher.

Yeah, don't sell the house -and- this would be a case where debt snowball would be highly inefficient Paying down the car first could knock out a lot more debt much faster if they can get the balance down to less than the value of the car quickly, sell it, and replace it with something else if necessary. The longer they wait to pay down the car, the more it depreciates.

I was thinking that too rent is super high in Fla. Keep the house as they will need it. Pay off the credit cards even take the loss of the car but get out from the payment or have a smaller payment for their stupid tax

Yes I agree I think that’s what’s going on here! See way too much of that now a days!!

damn that's totally what it is

Supporting adult children using credit cards.

That’s exactly what jumped out at me most. I wish they had explored that. They are probably still enabling some adult children.

It may help.

I always asked that how can one run up 120,000 k in debt. However, now that i think about it. The more you make the more cards you can get with more credit lines. Before you know it you're renovating you're house thats 40 k loan. Then furnishing with a wayfair credit card thats 30k. Then inerest and fee's which is 40k. Then little other cards charging useless items and thats another 10k. Then BAM you have 120 easy.

I guess a lot of people are shocked that you could get a credit limit that high, even if it is across multiple cards. My credit limit is nowhere near that. If I was stupid enough, I could get myself into about $30k of credit card trouble but that's not even in the same zip code as $127k of trouble. Granted, I'm a single income family making significantly less than this couple but still, I can't imagine getting anywhere close to $100k in a credit limit. Oh how the other half lives! LOL

Yes, they had a huge line of credit. Possibly multiple credit cards @@darkbee2359

@@darkbee2359If it’s available it’s pretty easy to max out after a few vacations and helping out your kids if you don’t have a responsible mindset.

Yassssssssssss

Indeed they are

So many people think their entitled to something. Entitled to housing. Entitled to a cell phone. Entitled to cable and/or streaming. Entitled to health care. Entitled to retirement. No! Everyone is accountable for providing for themselves. You should not even plan on being Entitled to social security. The government wants you reliant on the ruling class so you keep voting for big spending politicians.

Especially since she doesn't have a title to it.

I had a good experience selling to Carmax, slightly higher than a private party would have given me. No clue if that was a fluke, but It’s worth looking into.

Right

@@smileychess Carvana gave me 2k more than the dealer offer. I heard CarMax was a good place to sell as well

😂😂😂😂😂😂😂😂😂

You're 29. You got a long time to live. Stay healthy, take the next few years to fix your finances and life and you'll be good to go. Just don't quit, keep moving forward!

@@GAFB1122 thank you. Very kind of you.

Don't worry too much about her. She was smiling big on those vacations and when they drove a new car off the lot.

@iloveamerica3917 see, you have the consciousness and financial awareness to make good financial decisions. That's wonderful for you. She obviously didn't. But that doesn't mean that she isn't paying the consequences now.

it is the American way of living, particularly within a debt-based monetary system. There's a critical lack of financial education that perpetuates a cycle passed down through generations. The baby boomer generation is often seen as the starting point for a pattern that has continued through Millennial's and now Gen Z. The prevalence of buy-now-pay-later programs and the broader culture of instant gratification have, unfortunately, enslaved the middle class, preventing them from building real wealth. It's a deceptive cycle where outward appearances often mask the financial struggles many face. The concept of living above one's means, often fueled by a desire to borrow into prosperity, has become a common but detrimental mindset. While having a good credit score and using credit responsibly can hold value, the challenge lies in the widespread lack of self-control. Many individuals find themselves in challenging financial situations due to an inability to navigate credit responsibly. This reality is a key reason why financial experts like Dave Ramsey discourage the use of credit, especially within their audience.

So nice😊

life happens G

Ok nerd

Never ever never lmao Does a casino try and get people to leave who think they can beat the house? People are irresponsible with debt and their finances. It's financial illiteracy and impulsive spending. 10000%.

Yes there is, but these people haven't even come close to reaching that point. They can make the payments no problems. What has happened is that they finally realized how long it will take to pay off all of their debt and then when it's all paid off, they will be 5 years past where they wanted to retire and still have nothing saved for retirement.

They're still paying. Banks r making 30%. They'll keep lending

Yeah, I was shocked when she said that. More like 15.

@@dearestdarling9467 She even mentioned they still have student loans. At 59? Could be for their children I guess.

gambling addiction ? Men spending on escorts or a mistress ? drugs ?

who needs 30 year old wedding set?

They'll never be able to live anywhere close to the lifestyle they've been living, but assuming they've made big money for many years, they'll have two nice social security checks to take care of their basics. They'll have to live within their means at that point but at least it will be a nice chunk.

Problem is they owe $88k on the car (they kept rolling negative equity into the next loan)

Yeah, but where are they going to get the other $30k?

Their problems is getting the $88K loan. Will be easier to get the $30K loan. Whether through a personal loan or a HELOC.

@@bradleymaravalli2851 Why would they be looking for an $88k loan? They already have an $88k loan. They only need a $30k loan.

Exactly take the offer and the loss but it will get it off their balance sheet and then tackle the credit debt. Get er done

Exactly

They have 150K income. Its doable in 10-15 years. Scorched earth though over the spell. And afterwards as well.

@@robertjetski8736 You are talking about people who are taking regularly loans for vacations. They are not retiring in 50 years, let alone 5.

​@@robertjetski8736They arent disciplined enough unfortunately I'm afraid.

@@robertjetski8736They may not have 10-15 years left of being able to work. Physical and mental health can go down dramatically and quickly at that age.

They have a $400k mortgage. They can’t afford that on $30k. But I also think they can make this work. They just need to sacrifice, save up the $20k, get out of the underwater car. Like literally eat only beans and rice.

They have a mortgage and they have living expenyes. a 127 is only their credit card. They owe over 280 on a home and they have $80000 in carpet. All of these things have interesthat makes the abounces pro every month

Yup. Then pay off that house and stack away. Be ok. BK is there for a reason and I think she fits the bill JMHO.

Yea while I see why everyone is saying sell the house, but at their age it might be better to ride it out in your own home

Bankruptcy at their income of $13k monthly would likely be a Chapter 13, which would be a payment plan of several years. That wouldn’t accomplish a ton in this situation. Frankly, I would sell the house. It’s one of the worst calls I’ve heard in a while. They basically need to permanently downsize their lifestyle, rent for a long time, and then buy a smaller place later when they’re actually retired around 75.

@@craigmoman6944 Ohh If that's the case then you have a good point.

Right don't sell renting is worse these days and no investment assest

You only live once!

@@SteveC484 If you only had a brain.