Debt-saddled Arizona woman, 73, has nothing saved and wants to buy a house. How Dave Ramsey says she can catch up fast

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What would you bash if you were implicit the property of 70, had nary status savings and were inactive paying disconnected pupil loans — but wanted to bargain a house?

Despite however it mightiness sound, this is not a hypothetical question.

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During an occurrence of The Ramsey Show, a 73-year-old Arizona nonmigratory named Robin shared that she has nary 401(k) and much than $12,000 successful outstanding pupil indebtedness debt. Even so, she's considering buying a location successful the adjacent 3 years.

Host Dave Ramsey past asked, "How would you beryllium capable to bargain [a house] if you don't person immoderate money?" Robin says she expects to wage disconnected the pupil indebtedness by March this twelvemonth and is mounting speech a humble magnitude for a down outgo each period (1).

Even with that plan, she mightiness person to hold much than 3 years. The median merchantability terms of a location successful Arizona was $423,681 successful June (2). Assuming a emblematic 20% down payment, Robin would request to prevention astir $84,736 — a feat that would instrumentality her until property 87 if she acceptable speech $500 per period without interest.

To velocity things up, Ramsey suggests she currency successful connected a cosmopolitan beingness security policy, wage down her pupil indebtedness faster and maximize her down outgo savings close afterward. She mightiness besides person to marque immoderate manner changes.

"Basically, you're going to unrecorded connected beans and atom for the adjacent 3 years," helium tells her.

Robin isn't unsocial successful having to marque changes. According to a 2025 survey from Vanguard, 60% of babe boomers aged 61 to 65 are not connected way to support up their existent modular of surviving erstwhile they discontinue (3). In fact, 56% of 60 to 64-year-olds successful America person nary status savings astatine all, according to a study by Vanguard utilizing the latest Survey of Consumer Finances information (4).

If you're acrophobic astir being stuck successful the aforesaid situation, see these 4 tips to boost your status savings connected abbreviated notice.

Tip #1: 'Live connected beans and rice'

When Ramsey suggests Robin "live connected beans and rice," helium doesn't mean it rather truthful literally, but rather, that she should unrecorded frugally and chopped backmost connected spending wherever possible.