'You're Broke—Eating Out Is Causing You To Clean Toilets' Dave Ramsey Tells 70-Year-Old After Hearing Couple Has Nothing Saved For Retirement

Working into your 70s is one thing. Doing it with no savings, mounting stress, and habits that keep draining what little cash you have is another. A woman named Janice from Oklahoma City called into "The Ramsey Show" and explained the couple's predicament. She and her husband are both 70, have no retirement savings, and rely on a combined $2,000 per month in Social Security. Janice earns another $2,000 cleaning homes—a job she described as physically demanding. Her husband, facing health issues, brings in inconsistent part-time income. "I'm 70 years old. I have no retirement," she said. "My husband and I, neither one have a retirement." Don't Miss: The ‘ChatGPT of Marketing' Just Opened a $0.85/Share Round — 10,000+ Investors Are Already In Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here’s how you can earn passive income with just $10, starting today. They have $25,000 in cash, owe $27,000 on their home, and still carry a car loan. Their home is valued around $250,000. They also own a roadster worth about $10,000 and a paid-off pickup. Janice said she's desperate to keep their house and can't imagine living anywhere cheaper. Ramsey gave her two options. First, sell the roadster immediately. "I'm sorry, but the roadster is gone," he said. With the car sold, the couple could eliminate their car loan, put $10,000 toward the mortgage, keep $15,000 in emergency savings, and focus the next 17 months on paying off the remaining balance. It wouldn't be easy—but it would be possible. "With no debt at all you can make it," Ramsey told her. "It's not going to be pretty, but you can make it." Trending: Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro Then came the spending habits. "We don't spend money," Janice said. "The main thing we do is we eat out." Ramsey didn't let it slide. "You can't eat out. You're broke. Eating out is causing you to clean toilets," he said. "You're not going to see the inside of a restaurant unless you're working there." The stress Janice was feeling, he argued, wasn't just about money. It was about refusing to change. "If you want to keep this house, you're going to start living like you're completely bankrupt," Ramsey said. "You do not have wiggle room here." Still, Ramsey knew this plan hinged on Janice's ability to keep cleaning. And at 70, that timeline is limited. "We don't know how much longer you can do this at 70 years old," he said. "We have got to get you clear of this debt before you start losing the ability to work like he has." See Also: GM-Backed EnergyX Is Solving the Lithium Supply Crisis — Invest Before They Scale Global Production His second option? Sell the house entirely. "You've got a $250,000 house, right?" he said. "Sell it today, you're debt-free. Take $100,000, buy a $100,000 condo. Move yourself into it and that's your retirement home." When Janice pushed back, saying HOA fees would be an issue, Ramsey cut it off quickly: "No problem." The bigger issue wasn't fees—it was the clock ticking on their ability to earn. "You're going to have to make a choice," he told her. "Something has to give. This is not working right now." And then the final line—sharp, nonnegotiable: "He's going to have to work all his health will allow him. You're going to work all your health will allow you." According to data from the Federal Reserve's Survey of Consumer Finances, the average 65 to 74-year-old has over $609,000 set aside in retirement accounts. But averages don't tell the whole story. Half of households that age have $200,000 or less. Many have far less. Some, like Janice and her husband, have nothing. And that's the point. It doesn't matter how old you are, or how close you are to the edge—waiting doesn't make the math nicer. Whether you're 30 or 70, still building or already behind, now is the time to get serious. Talk to a trusted financial adviser while you can still choose your outcome—before your choices start making themselves. Read Next: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. Image: Shutterstock