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Home/Financial Foundation/DAVE RAMSEY

Debt and Social Security Reliance Reduce Retirement Solvencyy

TM

Talia Monroe

Dave Ramsey · Apr 15, 2026

Debt and Social Security Reliance Reduce Retirement Solvencyy

Source: DojiDoji Data Terminal

Retirement savings are eroded by overspending on housing, cars, and lifestyle expenses. This occurs when individuals lack a budget to cover key expenses, debt payments, and investments. Debt, specifically mortgages and car payments, acts as a blocker to wealth building. Federal Reserve data shows debt among Americans ages 65 to 74 quadrupled between 1992 and 2022.

Related Brief1d ago
personal finance

Premarital Debt Does Not Transfer Liability But Can Block Joint Financing

A low credit score can prevent a joint loan from being approved or significantly raise the interest rate. This occurs when partners attempt to finance major purchases together, such as applying for a mortgage or a car loan. The credit score is impacted by debt acquired before marriage. Under both common law and community property laws, a spouse is not liable for debts their partner acquired before the marriage.

Timing of retirement affects the total benefit amount and healthcare costs. Retiring before age 65 requires self-funding healthcare costs, which can run tens of thousands of dollars annually. Collecting Social Security at 62 instead of waiting until full retirement age permanently reduces benefits by up to 30%.

Related Brief2d ago
personal finance

Financial secrecy in marriage exposes spouses to undisclosed debt and asset loss

A spouse who lacks visibility into marital finances cannot determine if their name is attached to undisclosed loans or if home equity is available for their use. This risk is exacerbated when one partner controls all accounts and handles all major bills. When a partner refuses transparency, the non-controlling spouse is left unaware of how much their partner owes and what they would be entitled to if the marriage ends. In cases where a spouse is not listed on a mortgage, any built-in equity may be inaccessible. If the controlling spouse is underwater on business loans and files for bankruptcy, the home equity can be seized. The result is a spouse left without the means to support themselves during a marriage breakdown.

Reliance on Social Security as a sole income source is a risk. The average Social Security benefit in 2024 is $1,907 per month. A 2023 Ramsey Solutions study found 42% of Americans are not saving for the future. Saving less than 15% of 15% of gross income after age 50 makes catching up exponentially harder.

Related Brief1d ago
personal finance

Unused Subscriptions and Idle Cash Cost Americans Hundreds Per Year

Canceling unused subscriptions can save hundreds of dollars per year. Nearly half of Americans pay for for subscriptions they no longer use. George Kamel of "The Ramsey Show" recommends auditing Apple subscriptions and bank and credit card statements to find and cancel these services. He also recommends moving cash from regular savings accounts to high-yield savings accounts. Money sitting in regular savings accounts earns next to nothing. High-yield savings accounts can earn 10 times more interest than regular the regular accounts.

Dave Ramsey

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