I’m Fighting a Losing Battle
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- Опубликовано: 4 фев 2024
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it was a mess decades ago. this is now unrecoverable.
At 71 with that much debt I would just say screw it and live out the rest of my life in peace and not worry about it. Busting my ass at that age for potentially a few years of being debt free isn’t worth it.
True, once he dies or the daughter dies, the loan gets discharged.
@@missgui4400You mean after both he and his wife are deceased. Has nothing to do with daughter.
And if the caller would do the math, which I doubt he has ever done, he would discover that there is no way that two low income earners are going to pay that off in their lifetime.
The crappy part is the government is just going to garnish their social security with that parent loan.
At first glance that would be a very good option, but upon closer inspection you can see that dealing with their problems in an adult manner, that is getting his marriage on track and having a plan to deal with his problems in general, it would lead to a more fulfilling life for what is left.
That woman (and her kid) are absolute nightmares.
Think I am divorced without children!
The daughter is about to be stuck paying that loan down. It really doesn’t seem like they are going to be able to keep this up for long
@@barnabusdoyle4930Someone is definitely getting stuck with it cause the dogs of the government don’t let go of this bone! They should have instilled a sense of integrity and respect in her before it got to this stage, although they should not have signed up for any parent plus loans anyway.
I would tell my “theoretical” kid to get a scholarship or work to earn that money first if they just had to have it, cause no way am I digging my financial grave on it.
The problem is due to the father NEVER putting his foot down. This entire situation could have been avoided if they were real parents
@@kiki11974 I agree. Weakness on both the parents' side
Dave needed to take this call
💯% ... I really think George and/or Ken needed to explore selling the house. They might be able to clear all the debt and most likely avoid bankruptcy. They would be condemned to renting for the remainder of their lives, but it sounds like pensions and SS might just be enough to scrape by on.
Dave is glad he didn't take this one.
@@drc3po The daughter is a product of her environment. The wife is a controlling spender with zero responsibility, the husband is a pushover.... and the daughter learned it from her mom.
Dave needs to clear house and just take all the calls.
Dave would have just shammed the guy for not taking great care of his family! Then tell him to actually find 2 jobs to clean up their mess!
You're never too old to get a divorce.
In the midst of insurmountable debt you think it'd be wise for him to make it even worse by having to give up half his shit
@@ivar1998 At this point half of zero is still zero.
@@ivar1998he would be giving up all of the parent loan. She signed it not him
@@ivar1998give up what? They have almost nothing and the wife took out a monstrous loan. A divorce is better than this.
I wish Dave was on this call 😂
So this guy is 71.. it’s incredible that he didn’t look at the writing on the wall by age 45.. heck even 50-55 and realize they were in trouble. This didn’t happen over night
Or 60. Or 65. Or either time the student loan went in forebearance. It wasn’t until just now, when he already has $70,000 in credit card debt, that his furnace went out and he finally realized he’s completely out of life lines.
Yeah, the wife made the worst decision, but he’s made little bad decisions for many many years and buried his head in the sand to avoid acting. He’s also entitled, but in a different way.
Yeah, sad story because honestly it’s too late for him. The window has closed. That’s just being real. Nobody can help him now.
God bless that poor old man. His wife and daughter ran him into the ground all his life. He is so beaten down I believe it’s too late for him. His wife and daughter will team up against him and ruin his life if he finally stands up to them. Thank you for your service to our country sir 🇺🇸. You deserve so much better. Prayers for a healthy resolution
you can’t blame a child. hes a grown man, take some responsibility for being dumb
Start saving early guys!
💯👍🏾👍🏾👍🏾
Paying for your kids college is great if you can afford it. Insanity if you’re already in the hole.
Agreed!! We paid for most of our kids' private college, in Iowa, with cash. The kids paid for some, with savings and working, and they each borrowed a small amount. If we couldn't have afforded it, we wouldn't have done it.
@@jimroscoviusdamn must be nice to be able to do that
@@HOLDXSTEEL We saved from the time they were born. Plus, we both worked.
If I had to guess, most aren't financially fit enough to pay for their kids' education, unfortunately.
@taurusthebull76 They could be, if they saved for it. Or, if they can't afford it, they don't go. Or, they work their way through college. My wife worked three part-time jobs while going to school full-time. Later in life, we each got second degrees while working full-time. Work at a college, and your kids can go for free or reduced tuition. There are lots of ways to cut the cost. Go part-time while working fulltime. It doesn't have to be expensive.
I cant believe how insensitive the daughter is to their situation. This is sad...smh
I assume she doesn’t know how bad her parents situation is
She doesn't have to know. They are in retirement age. Why put that burden on them at this stage in their life? That's wild.
At the same time, it's a Parent PLUS loan. Not her responsibility. If the daughter called, Ramsey would be telling her that she doesn't have to pay it back until she's in a solid financial situation.
Really? The loans are not in her name.
The risks you take having kids and expecting them to take care of you.
Hope there’s more than one.
His wife is screwed....the Student loan debt will be deducted from ANY Social Security she receives!...so the Husband can forget any "relief"...in that area. This a sad situation where the parents have been Marginally employed all their lives...yet they spoiled this daughter into thinking of a Private (useless Degree) school she..deserves!. He's... doesn't have much of a financial future. .
$0 Student Loan Payments for Social Security Recipients with Parent PLUS Loans.
One feature of all federal student loans is that the debt dies with the borrower.
Tell wife to RETIRE, default on the CC, get $0 repayment plan, sell house and buy in Rural NM.
Live well on SSA.
Is it deducted from SS because student loans are federal? It was my understanding that only federal taxes owed and child support can be deducted from SS. This situation is a mess and saving their SS money would not do much.
@@cathyziegaus3378 ?????
$0 Student Loan Payments for Social Security Recipients with Parent PLUS Loans.
@@cathyziegaus3378yes. Federal backed loans they can garnish SS
@@cathyziegaus3378they can deduct up to 15% if it’s a federal loan.
"Our daughter went to a private school in new york." Yeah all you need to know
Yup, parent plus loans are a bad idea.
Parent plus loans for a private school should be COMPLETELY off limits under essentially any circumstances.
Lol instantly ruined her future by making her a liberal pos
@@black4vcobraunless nepotism.
Bet all those CC are from the wife !!!!!
The only way either of my kids would go to a private school is if they had a free ride scholarship. Even then I'd exert veto power over it if the curriculum or campus culture don't meet my standards.
At his age, he's pretty much out of options. How old is this daughter if he's 71 years old???
Wife is 66, so I’m thinking 30-40? In any case, the daughter is correct that they are responsible for the loans they took out. If they wanted to pay for her college without loans they could have saved money in advance.
@@drtij_dzienznormal people don’t do that. You can scream to the high heavens and this situation will repeat tomorrow
If I was his age I will just give up. I will be probably dead in a decade. I will give my wife an ultimatum , we sell the house and down grade. And live the rest of our life in peace. Sometimes time catches up to you and it is what it is.
My dad co-signed a school loan for my brother once and ended up paying off his loan after my brother refused to pay. It was a lot of money and did damage the relationship with my dad and him. I have two boys and I can firmly say, I will help them if I'm able but I will never co-sign a loan for anything.
My dad decreased the inheritance for one of my brothers who borrowed from him and never paid.
I co-signed on a car loan for my son and he paid it off. No problem.
Here’s a strategy. Student pays for their first semester tuition. If they get a cumulative (B) GPA the parent will reimburse their tuition so their student can pay their second semester tuition. Rinse, repeat. Student pays for dorm and meals from their savings or campus job. Cutoff age for parental money is 25 yo.
@@willelliott5052 that may be the case for my brother. My dad gives us cash for Christmas and I’m always shocked that he still gives my brother money.
My parents co-signed my school loans. I lived in 💩 hole rent stabilized apartment for 8 years to pay those off FIRST. If I died, he would be on the hook.
The credit card interest alone is probably around 1100 a month
How does someone get to be this age and facing $100k in student loan debt and $70k in credit card debt and decide moving to another state and buying a $300k house is a good idea? This didn't happen overnight and it didn't happen with just one bad decision. This is obviously a lifestyle choice for them. Knowing that, it's hard to feel sorry for them or see a way out for them.
By having a selfish lousy wife and a brat for a daughter.
What happens if the parents have some unfortunate health problems, or pass away? What's the spoiled brat going to do then?
@@gene_takovic57 loan will be forgiven as it's not in her name. j
$300k house is pretty normal price almost everywhere in usa… places where the houses are cheaper pay less and have fewer jobs
@@drtij_dzienzyeah these days 300k is nothing
Things like this are awful to hear but at the same time i have learnt from all these videos on what not to do to ensure i succeed
right!
I had an HVAC guy come to my house and he unplug my AC unit and told me that I needed to pay 10k for a new one because the fan went out. After I sent him on his way I called up another HVAC guy who replaced the capacitor and plug my unit back up for less than $100. My AC unit was up and running better than ever. Some people will snatch your money from you if you don't do your research. Also, I love my child but I never did and never will co-sign or attach myself to any financial debts for someone else. NEVER!
71, 200K mortgage, 100K on kids student loan, 75K on credit cards. Someone's gonna be living in his car by 75.
Unless he opens the book and immediately turns to Chapter 11.
$0 Student Loan Payments for Social Security Recipients with Parent PLUS Loans.
One feature of all federal student loans is that the debt dies with the borrower.
Tell wife to RETIRE, default on the CC, get $0 repayment plan, sell house and buy in Rural NM.
Live well on SSA.
Yeah definitrly needs to claim bankrupcy and get rid of that CC debt @@gene_takovic57
@@gene_takovic57even that wouldn’t clear up the 100k student loan debt. they’re fucked at this age
How can he not have his 300k house paid off (or close to it) at 71 years old?
Such a messed up family situation:
- A mother is babying her child and signed for parent plus loan
- An entitled daughter goes to an expensive private school in NY
- A father who is in retirement but have to go back to work and also struggles getting the family together in one page financially
Better them than I.
Like I keep saying here…..money is everything.
That “love” and “ I’m having kids so I can be taken care of when old” isn’t working too well here and no guarantee.
This is why I do much more with a backup plan than just solely depend on people and family.
guarantee you the women in his life HATE men, too....
Father should leave the family and live out his days in peace.
-father won't put his foot down -father needs to buy a back bone :'(
They never should have taken this call. This is absolutely a call for Dave & John. Getting the daughter to grow up is of no concern to these parents anymore. They have to leave her alone and live for themselves. And using the threat of having to take care of them against the daughter is absolutely ridiculous. That’s failing to take responsibility for your actions. I’d be pissed if I were Dave and heard how they handled this call.
So, the wife is a teacher but never learned anything...taught the little snot the same thing, and this guy's retirement is now destroyed because of her crappy decisions. How incredibly selfish! Truth be told, he is absolutely partially- culpable though, as he let that woman walk all over him for a very long time and went into debt buying her the boots to do it. This is truly a horror story and also a life lesson in not letting the spender control the money and not ignoring the debt until the avalanche is coming at you. Disturbing!
I blame him mostly. It's like he was getting chased by a Zamboni but never tried to get out of the way and now it's running him over. The family was just driving the Zamboni.
he is your typical American beta male simp
🤔💯
Why exactly would he retire if he had no retirement and couldn’t live on what he was getting from social security?
@@Smallvillefreak $0 Student Loan Payments for Social Security Recipients with Parent PLUS Loans.
One feature of all federal student loans is that the debt dies with the borrower.
Tell wife to RETIRE, default on the CC, get $0 repayment plan, sell house and buy in Rural NM.
Live well on SSA.
Why wasn't it suggested caller sell the house? These two didn't even offer the man a free FPU course. Personally, I'd purchase a couple of window units for this summer and forget about trying to finance for new central air: they live in CT, not Lake Havasu City, AZ, and winter will soon be over. Sell the house, pay off the spoiled daughter's student loans, file for bankruptcy. Until then, this man can drive and deliver Alphagraphics orders. His wife should hold out for her FRA SS. George said caller needs to get a job at $25 an hour and work 40 hours a week. Yeah, okay, that's probably not going to happen. I want to hear how Dave and Jade would respond to this.
They asked about the house.
Can’t suggest anything when the caller knows nothing and can’t give needed info.
Wife needs to stop making excuses and get a job.
Wife IS working as a teacher.
Yes, they should have provided FPU and the budget course. Sell the house. Move into smaller place. Window ac in the meantime. They left this man without direction - they didn't even ask him to speak with a counselor off the air. He'll be suicidal in no time.
They could probably file for bankruptcy now. Keep the house. That discharges debt for everything else. Sell house, pay off student loans. Take the rest of anything, move down south to a mobile home in the country and live off SS. Tell daughter never to contact them again
@@robertbell525 $0 Student Loan Payments for Social Security Recipients with Parent PLUS Loans.
One feature of all federal student loans is that the debt dies with the borrower.
Tell wife to RETIRE, default on the CC, get $0 repayment plan, sell house and buy in Rural NM.
Live well on SSA.
This guy had the gall to say “long story short” lol
😂
😂
😂😂😂
😂😂😂😂😂😂😂
😅😂😂
My friend is 73 years old.
She’s had a 100 interviews, no one will hire her. She has an amazing resume.
He’s out to lunch.
No one should have a mortgage in their 60’s & 70’s. 🤦🏻♀️
What type of work has she done in the past? What's her skill set?
These guys dont know how to handle these disaster calls.
Amen. After a couple minutes Dave would have said "What is your question sir? How can I help you today?"
He never would’ve told the parents to try and scare the daughter into helping by saying she’ll have to take care of them. That’s the kind of move he blasts irresponsible parents for making when the kids call.
They need a list on screen of all the stats this guy said, lost track 😨
Doesn't know how much they paid for house and mortgage 😢
I am surprised they did not press more into their home equity. Sell the home and live in a humble apartment for the next chapter.
Live in the daughter’s humble apartment until the parent plus loans are repaid 😂
I’m not surprised.
They asked.
The caller couldn’t even answer his questions about their home.
@@blackworldtraveler3711he didn’t want to answer. He knows.
@@blackworldtraveler3711Yes they did ask. He said something vague about "bought for 300K owe 200K". And they moved recently. Doubt there is much equity and renting - at least where I live - is horrendously out-of-control expensive.
You can’t sell a house that doesn’t have a working HVAC system. That really screws them over.
Why private school if you couldn't afford it?? Also, true love does not cost money.
She could "afford" it. Bank of Mom.
Ivy covered brick building, paver sidewalks,
well-off BF
I feel so bad for these people. This show is proof young people aren’t the only group that is bad with their finances.
I feel sorry for the man.if it was me it would be divorce time
For every young person bad with finances, there are a set of parents who taught them to be that way
@@zixinnie9796 yes.
Obviously not we got a bunch of geriatrics in govt putting us trillions in debt. I'd say a solid 90% of country has little common sense with money.
@@leeboy244they can’t afford a divorce.
When your wife said we should sign for the parent plus loan, say you can but it will result in divorce
He said he bought the house for 3 something and they owe 200k. The house has likely appreciated. I wonder what there equity position truly is. If they have enough equity to clear all debt I would sell. Go rent and work the baby steps after.
He said 200 something and 300 something. So we don't know. Could have paid 310 and owes 299 for all we know. Agree, would have been nice to know the equity standing.
This, exactly. If he can’t fully remember the price he paid for it-only the range it’s in-then they likely purchased it a while ago, when the daughter was still in K-12. They should sell, completely clear their debts, leave any remainder in a high-yield savings account (they sound so bad with money that I’m reticent to suggest they invest it), get on Medicare, and then use their combined SS incomes to cover their rent and living expenses. Unfortunately they sound so collectively deluded that they’re more likely to simply continue down this road until the inevitable financial car crash arrives. And at all of their ages and stages in life, that feels really sad.
Exactly down size big time Im surprised this wasn't suggested
100k parent plus loans, 70k credit card, 250k mortgage, grandpa, you working till you die.
They don't need to make any student loan payments - - They also need to investigate the $14,000 HVAC - - sounds like they've just accepted the 1st price given to them
A quote I got recently was same price....hvac prices are up alot the last few years. But obviously get more quotes.
In many cases, the HVAC company will the customer that you should replace both at the same time or they’ll offer to give you $1000 off if you do both and people are sucked into it.
@@markg999
Depends on where you live.
It cost that or less for two ACs and furnaces where I live.
@blackworldtraveler3711 Yea that was for two ac systems. Mine is 9 years old...newer systems don't last long like older ones it seems. Guy was upselling a 2 stage system so possible I could get for even less. Also from what I've learned is don't call for a quote the sales guy is tacking on commission the ac techs looking for problem don't usually get that so can save letting the tech give a quote.
He's taking the word of the first HVAC guy about his unit. He needs to get LOTS of quotes for both REPAIR as well as REPLACEMENT. Preferably from independent HVAC guys that don't have flashy new trucks and big advertising budgets. The REST of what he's blathering on about is essentially- "I'm stupid, I do stupid things, save me from the stupid things I've done, and also the stupid things I'm GOING to do when I ignore your advice."
Yeah Dave would have never allowed that. It sounds like his AC unit outside broke and they are selling him a full furnace/blower replacement on top
Indeed!@@drtij_dzienz
Yea 14k seems kind of high, although it depends on how big the house is
@@drtij_dzienz I have a new roof top 4 ton AC/gas pack, $8K
Their A/C unit went out....and a single contractor told them they needed a new furnace too? Get several other quotes. Perhaps the A/C can be repaired vs replaced, and a new furnace is Not part of the equation. This poor man has been simping way too long! 70k in credit card debt at nearly 72 yrs old, with over 250k still owed on a mortgage? I hope they can set some boundaries with themselves and their/her daughter. This is a retirement nightmare.
This DEFINITETLY needs a follow up call.
Yessss it does!
Ken looks like he’s about to order Panera’s for Lunch 😊
This made me laugh and I'm not sure why
@@fishroy1997 Well when I read Ken’s Body Language to me he always seems to be thinking about Food during calls
Lmao!!!!!
Baguette, chips, or apple 🤔
Hopefully he didn't go for the turkey chili and a tuna salad sandwich. That brings out some crazy face.
Dude, box fan is 20 bucks, window ac is 200… AC breaking down is not an emergency 😭
PHX, AZ
30+ days in a row, 110 or higher, cool down at night to low 90's.
In 12 hours, New 4 ton AC/gas pack on roof for $8K
@@aolvaar8792 hahahaha… I’m just saying you can survive without it for a while, poor people do it all the time… it’s not a must have right now.
Maybe going with a $20 fan will get mother and daughter on board. They need to sweat!
@@exceedinglyaverage1179
I have a Legal requirement, 68-78 degrees,
Hence the 12-hour Fix.
It can be, if you're 71 years old. Although probably not in Connecticut. There's likely only a week or so when the temperature gets lethal, and a week at an emergency cooling center would probably keep complaints about selling the furniture to a minimum.
They have been living beyond their means for decades.
Stories like this inspire me to never remarry again lol
Parent plus loans are always the parent’s responsibility to pay back, 100%. Lots of parents didn’t save for kids college and then want to push them into university for their own ego. “My kid graduated from NYU!” Parents shouldn’t push their kids into university and they definitely shouldn’t take loans they can’t afford to push them harder!
Even if parents are verbally agreeing with their children that the kids will take on the loans after graduation, I would say that is also not OK. It’s a verbal agreement with a 17 year old and you want to potentially detonate your relationship with your kids if they aren’t able to follow through? Parents should just make their kids apply for loans themselves if they need loans for college. Parent plus is worse than a cosign.
You want to help your kid go to college? Start saving $500 a month in a 529, when they’re infants.
I have a CT teaching certificate but I’m currently working in a higher paying job. Plenty of school districts are hiring. I get notifications and emails every week from school districts looking to hire teachers.
This should be a case study for high school and college aged people in what not to do with your financial life.
This man's current predicament is a pure tragedy; I hope he is able to find a way out of this mess as quickly as possible, but I'll also be using this as motivation for myself. Everyone's goal should be to never end up like this family. Make the arrangements and sacrifices now people...
Sadly, this guy is playing the real victim. Every time they disagree with him, he says, "Exactly". This is likely how he handled his family and is now acting like it was out of his control.
If a women made this compliant you’d sympathize with her
Basically it is unless he goes for the divorce.. as you can clearly see nothing g he says will change her mind …
If one spouse spends, the other can do nothing except divorce. You can't MAKE the spending spouse stop -- they have to stop themself.
@@lanecostilow6959not true
@@hoosier_daddy65but then where will they live with their income split?
This guy isn’t safe and can’t breathe.
They raised a monster. Whose fault is that.
They are boomers and they blame the kid for how THEY raised her. Typical.
Run brother BILL!
The one and only truly working couple in their age group that moved into CT as of recent.
Summary: Bill from New Haven never took control of his life. Comment below with your address and I'll send you a bill for the time I saved you
Please send the bill to Mar a Lago
Jokes on you I'm listening to this while working
Yeah I had to stop listening 1/3 through. Way too sad.
I love this
God bless them 🙏✝️. This call is scary. I’m sorry Bill.
This is a greatest hit call
My opinion of the caller changed pretty radically when he mentioned he has $70k in credit card debt and a $200k mortgage, both of which he had control over. Sorry but he’s not the victim he made himself out to be. Even if this were completely his wife and daughter’s fault (it’s not) he still chose to retire knowing he has $370k in debt.
As far the daughter of course it’s not up to the parents to pay but they also can’t say they’ll pay and after it’s all done turn around and ask for $100k that’s an insane recommendation as if she didn’t choose a school based on her parents promise.
"Fighting a losing battle." So sad. How many financial disasters are caused by relationship problems?
Also the mom let the interest accumulate. The original loan probably was half the $100K. The daughter shouldn't be expected to pay the bloated amount.
@@megalodon1726 they’ve had a few of these parent plus calls and they always say to ask the kid to pay because it’s unfair to the parents. What’s unfair is telling your kid they can go to their dream school and not work and letting interest run up and then turning around with your hand out as if they wouldn’t have made very different choices knowing that from the beginning.
Was it "life story" day on Ramsey? Jeeze
1.25x is our friend...
The wife deserves resentment, that poor guy won’t get a retirement ever because of his wife’s and daughters snobbish entitlement and reckless spending
Just remember that there are three sides to a story. I strongly suspect that some fine vehicles and toys were financed for him too.
Why didn’t he save enough for retirement while he was working? Or save for daughters college while he was working? He must have been spending *everything* as it comes in
Choose your spouse wisely.
@@taurusthebull76he’s just as much to blame as they are.
@@NanoWealthGuy yep. He could’ve grown a spine at any time but he was probably content to just let things build until the dam finally broke.
Yikes. This is a bad one. God bless and keep you sir.
Suddenly, I don't feel bad about never getting married or having children. What a nightmare.
This is a perfect example of what happens when you dont figure out financial education early and implement it. This poor dude, I really feel for him.
Listening to this, I can see how it all started. Dad working two and three jobs, not home and too tired to step in with the daughter when It was necessary. The wife had better smarten up and tell her daughter the buck stops here!
Eh, bro is thinking “happy wife, happy life” and co-signing on all her bad decisions and resenting her after the fact
Sorry bud but you can forgo the HVAC living in Connecticut. Throw a window unit in and use it for 3 months.
14k is extremely expensive unless you have baseboard heating and need the house replumbed with ductwork.
This is scary ! This much debt at retirement age
If his house isn't large and has duct work, I'm pretty sure a furnace and A/C replacement shouldn't cost $14K, unless inflation has gotten really bad. I got both of mine replaced five years ago professionally for $8K on a 1,300 square foot ranch, parts and labor.
You don’t need central air go get yourself a few portables, there anywhere from 5 to 700 a pop. Three or four of them should be able to keep your house. Cool. It’s what I do and it’s awesome.
Exactly!! Then you only cool the rooms you are in instead of the whole house. You electric bill will be much lower too!!
@@offgridjack5779 I love it!
I sympathize with Bill is going through. I went to the same thing with my ex-wife one of the issues we got divorced was we had financial problems fortunately, we never had children.
Wow! In Canada furnaces are 6,000 and it gets very very cold.
I’ve never understood people waiting until their retirement age to start thinking about retirement..
I would get out of CT ASAP. It's way too expensive to be there, especially around New Haven. Everyone wants to be close to the highways and that's where they meet. They could at least move north close to the mass border where no one wants to live so house prices are low.
Unfortunately they only way out for this poor guy is probably going to be 6ft under. Mathematically he can never make enough money in his lifetime to pay his debts.
This is one time I agree with them about not investing until the debt is gone. At 72 he needs the cash more than anything.
Hvac system isnt an emergency…. 1. Ita not a necessity and 2. Thats called home maintenance… houses are not investments or atm machines
I guess the only silver lining is if they croak, the Parent Plus loans are discharged. So maybe just pay the minimum and let the interest get sky high. Who cares at this point.
The taxpayers 🤷🏽♂️?
@dasheffield5596 lol I love how the taxpayers feel so aggrieved when it comes to student loans. You know how much tax cuts and the military are costing us?
So they can pull an Epstein?
@@tugboat2030Tax cuts don’t “cost” taxpayers anything. It’s simply the government taking less of something that wasn’t theirs to begin with.
@@jh26pt2 Just like a parent reducing their hours at work doesn't cost a family anything. Everybody's just gotta tighten their belts! Daddy's taking a break!
Tell him to "work harder" Dave.
The mother and daughter are irresponsible. Dad has no back-bone.
You know, I'm 72. My husband is 80, in poor health. I went back to work because prices are up and we needed the money. Actually working sure beats sitting around. Stop whining. Just do what you need to do. You'll probably live longer out working
Whining lol
@Onefreelife, you are not free at all. You should not be working at that age unless you choose to do so, not because you have to. This is sad. You are basically spending all your life working for people who don't even care about you. Life is short. You try to be positive but the reality is that you should be enjoying retirement now (or from years ago) or have your own business.
@@Observer100-cn7gv
No, you can't just assume that anyone working at that age doesn't like it. Many people enjoy their work, included in that is older people. She also said they needed the money. What's wrong with being productive and making money? And, lots of folks can't or don't want to have their own business. It's not for everyone. There's tons of folks who complain about my state of CA killing small business, for example. And you assume the people she's working for don't care about her? Yikes.
Happy wife happy life
😂😂
Brutal 😂
Man, this is so sad 🥺
I would check out honestly
4 minutes into this guy, and I'm still looking for a question.... lol
I have had it!!! I am tired of listening to your teachings and advice for over 15 years and being in more debt that when I started listening to you Dave! My dad even listened to you and is still in debt 10 years into retirement.
I done listening to you thinking I can follow your steps for a few months and when things financially start getting better I can get another credit card just to do it over again! Starting tomorrow I am done listening and going to give in and finally admit you were right! I can't pay down a credit card and let it sit to build credit and never use it to "just earn points and pay it off".
I give up Dave! You are right. I am starting my journey tomorrow to pay off my debt and as each card gets paid off I am not just cutting it up I am closing it out. I am setting a goal that I never borrow again or use a credit card again. I need help and support so I will seek it out. I always knew I had a problem but mentally I couldn't register it. I am almost on the brink of bankruptcy every year and pay off 100k in debt and do it all over again. I now know I can't just watch 5 episodes of you show and think I got it all down and so it on my own. I'm giving in to you and doing it your way or no way. Hopefully this time 24 months from now I have 500k in dept wiped away and can about it to the world.
What I would also do is use this snowball way of distribution.
Month's worth in checking account
3-6 months in high yield savings
rest of it in high yield income stocks in a brokerage
What's sad about this is he'll probably pass away still paying down the loans and the daughter still keep the remaining home equity
What’s sad about that?
Life insurance policy will help.
@@drtij_dzienz because he'll work too hard the rest of his life for a selfish daughter
@@blackworldtraveler3711 not at that age
@@thedopplereffect00 they could sell the house and rent an apartment, or move in with daughter, but I doubt they will make that choice. The choice they did make, was to take out parent plus loans.
I don’t understand what type of college student would allow their parent to do that for them, knowing that they don’t have the money
What do you mean? 90% of college students would because they’re broke 18 year olds when they go to school. a lot of them would help pay the parents back though unlike this daughter. But it isn’t her responsibility so she’s right on that
Why would the wife to that to their future , that’s not loving your husband and to top it all she wants to retire with 100k in debt while her husband is 71. That wasn’t even loving the daughter to do that
I didn't hear caller say his wife wanted to retire soon. I heard him say she wanted to start getting her SS payment soon. Getting your SS payment does not mean you are retiring.
Bro 14,500 for a furnace is a joke. Idc f it also has the AC. But a few window units.
Caller did say AC, and the said furnace, so probably the entire HVAC system. Still, that seems a bit high.
Based on recent quotes I've gotten for a new hvac system, that price is normal.
@@ashleycnossen3157
Also depends on location.
Much cheaper where I live.
@@blackworldtraveler3711 I'm sure you're right. I live in AZ...HVAC is a very lucrative industry here
This car crash happened years ago , his life was ruined a decade ago , he and his idiot wife just didn’t realise it .
he sounds like such a sweet old man. I wish I was in a position to help
This is an example of not preparing for the future. There's no fixing this unless you trade in the wife for a rich widow.
If they sell the house, they can clean most of this up. but thats looking like their only option sadly
Take out a life insurance policy on the daughter and… industrial accident? Spitballing, here.
😂Tempting……..
An HVAC guy told me we would have replace our whole system for $19,000 as it was unfixable. We had a repairman come out from another company who fixed it for a few hundred dollars. When I complained to the original company, they were shocked and said the guy was their best repairman. Probably best in the sense of bringing in the most money-and we all know hiw he does that. I told them I would never use their company again.
What a mess! This scares me.
Makes you wonder how many soon to retire people signed up for a parent plus loan and are looking at this exact situation
Never miss out on a match
That's an incorrect statement, especially with this situation. He's paying at minimum $1,000 just in interest alone every month for that $70k credit card bill. So let's say he gets a $100k per year job, and puts in the full employee match of 3%, that's only $3,000 of "free employee money" per year, or $250 per month. So he's going to contribute the money to his 401k to get $250 extra a month, just so he can spend $1k a month for the interest of the credit cards? No, dumb decision. That's why they said he has no money to invest yet, because he owes more than any match would be, and the interest he's paying on the credit cards is more than he could get a return on with the money he would put in the 401k (market).
@@bottlefed90gt Wrong. Doing the match is a 100% return. Credit cards are around 20%. Plus he could literally just withdraw the matched money every month and put it on his CC.
You don't gotta take care of the HVAC, billions of people live without HVAC, buy a pedastal fan that costs a few cents a day to run and start hussling, HVAC is a luxury and you can sort that when the mess is sorted
If the house doesn’t have a chimney for a wood-stove they really are a necessity in the modern era in winter.
In the summer I can somewhat agree but a dehumidifier really should he used down south
He worked his life away to serve two colossal brats to end up in this mess.
I believe this is just the beginning of a decade of calls from people of that age in this same situation.
Every REAL MAN knows what they have to the penny!!!!
There have been several articles saying once you beyond 50 your salary potential goes down. Not saying there isn't outliers out there. George was quick to shut that down.
Get more bids on that AC unit. I have a furnace/AC unit quoted to be replaced for$11,000. Luckily, I know someone who taught me how to spend 15 minutes with a vacuum cleaner and fixed it.
Too late for him. He will never get out of this. He may as well accept that he is just going to leave this earth with loads of debt. Some of it will go away after that, some may be left on the shoulders of his family. But that is what it is.
GOING BACK TO WORK AT 71 IS SUCKS!!!!!!!1
That's why you don't retire before the age of 80. This is what happens when you retire early.
BS@@amireallythatgrumpy6508
14k for a new furnace? Your being ripped off. Shop around, I promise you can find a better price.
That sounds about right to me. People don't understand how bad inflation is now
Probably furnace and central ac
@@johndone8045 a lot of it is mandatory government regulations making it more expensive
$14K for AC & heating -- not outrageous, especially if they have a good sized home.