After 46 years of work and a six-figure income, a 64-year-old South Carolina man thought he was approaching retirement. Instead, he finds himself staring down more than $230,000 in debt while wondering if he’ll be able to stop working anytime soon.
Bruce shared his situation on “The Ramsey Show,” explaining that he wants to retire by age 65 but is struggling to get control of his finances. Despite earning about $160,000 a year and having significant retirement savings, he admitted that debt and spending habits have put his plans at risk.
A Retirement Plan That Doesn’t Add Up
Bruce told personal finance expert Dave Ramsey that he and his wife have more than $20,000 in credit card debt, a $12,000 car loan, a $118,000 mortgage, and a…