The Ramsey Show "We're In $580k Of Debt At This Point"
Jan 15, 2026
In this discussion, a military retiree grapples with a staggering $580k debt and hears advice on asset liquidation. Other callers confront emotional betrayal linked to finances and learn about trust rebuilding strategies. A retiree questions the wisdom of leaving $400k uninvested, while a couple with significant student loans considers living with parents to expedite repayment. Conversations also touch on the implications of debt upon death and personal responsibility in managing loans, all intertwined with relatable financial dilemmas.
AI Snips
Chapters
Books
Transcript
Episode notes
Business Burned Through Military Retirement
- Jimmy retired from the military and started a detailing business that lost $220,000 in year one and sits $580,000 in business debt now.
- He worked unpaid, took SBA loans and credit cards, and the hosts urged he stop sinking money into a failing business.
Stop Digging—Cut Losses Now
- Stop throwing money into a loss-making business and consider closing or selling assets instead of hoping to recover losses by scaling further.
- Sell equipment, get a job to pay down guarantees, and treat personally guaranteed business debt as personal responsibility.
Prison Pen Pal Betrays Trust
- Caroline discovered her husband sent fund money to a prison pen pal for three years and felt betrayed financially and emotionally.
- The hosts recommended full disclosure, counseling, and separating finances to rebuild trust.
