Couple Drowned By Debt On The Cusp Of Retirement: Live And Learn | CNBC

Sue and Rich Ramirez were in their 60s with $85,000 in debt. After one of them lost their job, the reality of an overwhelming mortgage and credit card debt set in. CNBC’s Live and Learn brings the story of a late in life financial recovery.

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Couple Drowned By Debt On The Cusp Of Retirement: Live And Learn | CNBC

[johnnyjameson]

"We're not extravagant people"

-Yes you are, you bought things you couldn't afford. That\s called extravagance.

[ChristopherAbelman]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[dialac]

The beauty of this video is that they are still together and the hard times didn’t lead to divorce

[eljefe]

A wise man once said: "He who buys what he does not need, will one day need what he cannot buy" Great motto to live by.

[Peppermon]

Growing up in the 2000’s constantly we are told “you are replaceable”.
You better believe I have an emergency fund. I mean nothing to employers.

[sherrieludwig]

"it NEEDED a new floor? Not unless you fell through the old one.

[Jordan-njve]

The credit card offers just kept coming in the mail? You put them through the paper shredder!!!!

[eleveneleven]

We're not extravagant $85, 000 on credit cards!...and a mortgage. At 61...
Come on...

[johnford]

nothing easier than borrowing, nothing harder than paying it back.

[abhia]

I like the chemistry between the couple. They truly live the meaning of marriage. I will stand by you through rich and poor. Hats off.

[JacobslifeinVegas]

2:10 "Stick to the plan. If I don't have money for this, I'm not going to buy it." WHAT A CONCEPT!

[marcsherman]

' We were renting a home in Orange county..." It was over right there.

[petersachs]

Unless you are in actual danger of falling through your floor, you don't "need" new floors on credit. 😆

[MiamiPushtheLimit]

I’m 32 and $10, 000 in cc debt. I feel overwhelmed by it. I can’t imagine $85, 000. I’m going to shred my last cc now. I can’t keep doing this.

[Mom_sBasement]

It was so easy to use credit cards sounds like something you would hear from teenagers, not 60 yr olds.

[joesmith]

I am glad they eventually figured out that you can't spend more than you make - even if it took them over six decades.

[jackryan]

You don't just rack up 85 G in debt "Before you know it"

[gn]

I'm glad they had a happy ending. I'm tired of feeling depressed over situations from people I don't know.

[TerraAcox]

I'm really proud of the lengths this couple went to in order to get out of debt.

[legitKwit]

So glad I found Dave Ramsey at 41. Debt free and house almost paid off. Live beneath your means and pay yourself (saving and invest) first.