'I'm 53 Years Old, Have Absolutely Nothing For Retirement, I'm $50,000 In Debt, And I Want A Divorce' — Dave Ramsey's Advice To Truck Driver

A 53-year-old trucker named Donny called into "The Ramsey Show"  asking Dave Ramsey and co-host Dr. John Delony for advice on finding a way out of his distressing circumstances.

Donny's initial admission set the tone. “I'm 53 years old, have absolutely nothing for retirement, I'm $50,000 in debt, and I want a divorce,” he said. 

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His voice conveyed the gravity of a situation that had been deteriorating over the years, exacerbated by his career as an over-the-road truck driver that kept him away from home and out of the loop on financial matters. The conversation delved into the details of his failing marriage and financial disarray. 

“It's just been building over the last 10 years," he said. "I was in a sweet spot, we were in a sweet spot; no debt, six months of living expenses saved.” 

However, a series of poor financial decisions by his wife, including doubling their rent and racking up credit card debt, led to a dire financial state and the discovery of a $30,000 tax debt owed to the IRS.

Ramsey's response was blunt, focusing on the root of the problem.

“You guys suck at communication beyond belief,” he said. He highlighted the lack of teamwork in handling their finances, noting that while Donny was away, his wife made financial decisions that undermined their previous successes.

The depth of their marital issues came to light as Ramsey explored the implications of Donny's desire for a divorce, emphasizing that the financial problems were just symptoms of a deeper relational breakdown. 

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“You want a divorce. … That’s a symptom of behaviors, attitudes and beliefs that you all are harboring,” Ramsey said.

He provided practical advice for tackling the immediate financial issues: contacting a tax professional through Ramsey Solutions to set up a payment plan with the IRS. He also stressed the importance of addressing the underlying issues in their marriage. 

“Until you can get them paid off, you’re going to continue to have financial problems as long as you are not communicating and aligned on where we are going,” Ramsey said.

While Ramsey offered a clear path forward, his demeanor throughout the conversation might have surprised some listeners. Donny’s situation, unfortunately, isn't uncommon. According to the 2022 Survey of Consumer Finances, nearly half of American households lack retirement savings. This statistic highlights the prevalence of financial struggles across the nation. 

Despite the widespread nature of the problem, Ramsey didn’t shy away from emphasizing accountability. He pinpointed the lack of communication within the marriage as a significant contributing factor, a point that resonated throughout the episode.

Even if you find yourself in a situation similar to Donny’s, with no retirement savings and mounting debt, it’s important to remember that it’s never too late to take control of your financial future. You may want to consider consulting a financial adviser. They can help you assess your circumstances, create a personalized plan and ensure you’re on track to achieve your retirement goals.  An adviser can also help you maximize your current savings and investments so you can retire comfortably and enjoy the lifestyle you desire.

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