A caller on “The Ramsey Show” shared a devastating story of losing retirement savings to a crypto scam. Mary, 75, and her husband are now working two jobs each to pay off debt after he fell for a fraudulent online investment scheme that wiped out their savings.

Mary explained how her husband got involved in the scam, giving away their retirement and borrowing $250,000 more to try to recover the losses. Despite their efforts, they’ve only managed to pay off half the debt and are struggling to stay afloat.

They also took out a reverse mortgage to help cover some of the borrowed money. Mary expressed her worry about how the situation might affect their taxes and sought advice on the show.

Mary and her husband are bringing in about $5,000 a month from Social Security and part-time jobs to make ends meet. They are doing everything they can to stay financially afloat, including taking on additional work and having garage sales to pay off bills.

The scam involved the husband investing in what he believed was a legitimate opportunity, only to find out he was sending money to scammers under the guise of fees and taxes. Despite reporting the fraud to authorities, Mary doubts they will recover the lost funds or catch those responsible.

Mary called the show out of concern for how the situation might affect their taxes and received help from a Ramsey Trusted tax expert and financial coach. She shared the warning to listeners that if something sounds too good to be true, it likely is.

Mary and her husband are working hard to pay off debt and stay financially afloat despite the devastating scam that cost them their retirement savings. With determination and multiple jobs, they are slowly chipping away at the debt and trying to rebuild their financial security.

Read more at Yahoo Finance: Dave Ramsey Caller Says Her Husband Lost Their Entire $500K Retirement In A Scam And Borrowed $250K More. Now At 75, They Have Two Jobs Each