Can I Catch Up On Retirement At 50?

Can I Catch Up On Retirement At 50?
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[@ChristopherAbelman]

As I approach retirement, ensuring the stability of my 401k after the turbulent year of 2022 is a top priority. I've come across stories of investors achieving up to $270k in ROI during this current declining market. Any advice on enhancing my ROI before retirement would be highly valued.

[@HildaBennet]

Many people underestimate the importance of advisors until their emotions lead to financial setbacks. I recall a couple of summers ago, during my protracted divorce, when I needed a significant boost to keep my business afloat. I conducted research and found a highly qualified licensed advisor. She has effectively increased my savings from $220k to $740k, even in the face of inflation.

[@FinnBraylon]

How can I get in touch with your advisor? I'm interested in finding a more effective investment strategy for my savings.

[@HildaBennet]

Her name is “Sharon Lee Peoples” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@FinnBraylon]

Thanks for the share! copied and pasted full name on my browser, effortlessly found her site, very professional. I got some feedback hope to speak on the phone soon.

[@FinnBraylon]

Thanks for the share! copied and pasted full name on my browser, effortlessly found her site, very professional. I got some feedback hope to speak on the phone soon.

[@Mitzi73]

Nothing is more gazelle-intense than the 10-15 years before retirement.

[@floobertuber]

Gazelle-intense due to the lion running faster than you, and at your six.

[@JOESUBA122]

This is true

[@portlandrestaurants]

I was able to catch up in 50s by downsizing. The lower your living costs, the less you have to save. Working til 70 but that's ok cause I love my job.

[@magaritaavila8535]

I hope that you retire at 62

[@portlandrestaurants]

@@magaritaavila8535 I lost my job so looks like I will

[@silverlina]

Absolutely love Chris and Dave's work relationship. They work so well together

[@catchinghorses]

more Chris and Dave!!

[@ayela562]

Well this didn’t age well .

[@Applauseify]

my first thought

[@southrichmondtofl]

@@ayela562 how'd this one slip through the cracks to get left up?!

[@411sponge72]

😂​@@ayela562

[@gregoryhausner2291]

I started at 59 year's old with this and I am laser focused as to what I have to do. Plus I only make 12 dollars an hour with overtime. The budget that I am now on is working however I cannot ever be off focus for even one minute. I must get my condo paid off then watch out after that. It will work because I demand it too.

[@jadexplores2100]

How’s it going for you today in 2024?

[@chodge5310]

Ask Jesus to bring you an additional source of income. Then trust He will show you the way, be a light to your path. HE WILL.

[@JulieLerch5]

Awesome attitude! I am 54 and you are an inspiration to me. Thank you! 😊❤️

[@PK-zb6wh]

It isn’t too late. You can make a lot of progress in 10 years. And even more in 15 yrs. Buckle down and amaze yourself.

[@roadrunner9622]

What about 20 years, if you're willing to work til 70?

[@PInk77W1]

3yrs ago I found Dave. I had $11,000. CC balance. Now 3yrs later I have no debt and cut up cc. And am buying a house cash now at 59. I also moved from expensive CA to cheaper TX

[@shadypines9929]

How are things going now?

[@michaelargenta3856]

everyone should leave ca --- asap !!!

[@user-ug2hw9fg8p]

@@michaelargenta3856 people are waiting for you to leave so they can get in. Not everyone is broke

[@SAreamusic1]

3 years, on how much income? Give me hope brother.

[@twilde3754]

Angie, make sure you understand the various places that you can invest -- 401, supplemental accounts, Roth IRA. I started at nothing when I was 46! Start socking it away! Stay focused! It's never too late!

[@Angela-ne9cy]

If you don't mind my asking, if you started at 46, how are you doing now? I know something is better than nothing, regardless.

[@QuestionEverythingButWHY]

“Be fearless in the pursuit of what sets your soul on fire.” ― Jeniffer Lee

[@SidraAdele]

Amen!

[@CadeCowell-ft4fe]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

[@MalikTillman-dy2qp]

Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.

[@Lynn-jw9kf]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.

[@Oliviathe17th]

pls how can I reach this expert, I need someone to help me manage my portfolio

[@Lynn-jw9kf]

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@TannerHorvath]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@Blitcliffe]

Living within your income and definitely investment in stocks, creating multiple streams of passive income

[@EdwinBoettcher]

My p0rtfolio is plummeting significantly, I’ve lost about $320k within a few months and I'm not confident about picking st0cks anymore. Are there really no other options for me to gain from the stock market?

[@user-3456rtu]

Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.

[@Blitcliffe]

very true. Despite having no prior investing knowledge, I started investing earlier this year and pulled in a profit of approximately $250k and still making profits. In reality, all I was doing was getting professional advice.

[@EdwinBoettcher]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success

[@Blitcliffe]

There are a lot of independent advisors you might look into. But i work with "Becky Lou Gordon", and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her

[@festussmom6364]

I’m doing the baby steps during this pandemic and I have 2 more cards to pay off and I will be outta debt except my house.. It can be done but you have to focus.. ❤️🇺🇸🦠😷

[@SmallSpoonBrigade]

I'm in a similar situation, I've got one credit card and a student loan, plus money that I owe my parents. I'm still making my payments and should have the loans to the banks knocked out by the end of the year easily. And then I can focus on repaying my parents and building up my emergency fund to those 3-6 months that are recommended. Unfortunately, I had a bit of a setback due to a death in the family, but fortunately, Dave convinced me to set aside money for that emergency fund, so I'm not going into debt over it. But, I'll have to build that $1k fund back up.

[@XFizzlepop-Berrytwist]

Chris L I do think that 1k is too low, yes I’ve heard why it is what it is. But having a 2-5k net... is a lot better for a serious emergency, because a lot of emergencies will likely cost more than 1k.

[@sondersrn8061]

You can do it !! 🙌🏽

[@carojames6776]

It's NEVER too late you just have to FOCUS and PUSH yourself forward.

[@trigun10]

i like that, "The quicker you are out of debt. the more you have more control in your income. "

[@jorgealmeyda5222]

At 52, I am now throwing everything but the kitchen sink at my retirement investing. Going full gazelle on it.

[@CaseyBurnsInvesting]

Imagine if Colonel Sanders said it was too late. It’s never too late.

[@susanedghill609]

Yehhhh! so true......😂😂

[@openureyes929]

Im 50 and just met with a Ramsey advisor. I have no debt and 100k saved up. If I put that and 50k each yr into investments the projected $ amount in 10 yrs is roughly 2.2 million. Thats good enough for me.

[@ThorMaximus]

$50K each year over 10 years won’t be easy. But I’m 50 with $100K and my goal is to get to that $250k mark in 2 years, which will happen with a good market and no job interruptions. From there, I plan to reevaluate, but I’ll have a nest egg from which I can work with.

[@edwinroyal9734]

How is your plan working out so far? You would have to make 20% returns annually to reach that goal.

[@rudyardganuelas6254]

@@edwinroyal9734that’s par for the course in ramsey’s world. he thinks investments double every 5 years

[@TheJonOrtiz]

I started this a few years ago at the age 25 and I’m well on my way. But my motivation isn’t retiring with millions (and millionnsssss) but for when the big man calls my name , I can go comfortably knowing my two daughters are taken care of along with their future families. (Protected by prenuptial agreement upon a future marriage)

[@blackworldtraveler3711]

Wasn’t my motivation to retire a millionaire but it happened with little effort on my part so you never know.

[@magaritaavila8535]

Also teach them to be self-sufficient and resourceful.

[@shamps25]

I'm 51 and will never retire mega wealthy but I'm doing all I can to make sure my two sons are left with something when I'm gone, making their life easier will hopefully have a knock on effect to the future family generations 👍

[@kennethso6811]

Dave. I’m 55 without anything for retirement. But, my home is paid off. I’m worried. I’ll continue to work until my body gives out. I hope I can make enough in time

[@magaritaavila8535]

Stop the rat race at 62 please

[@hurricaneb2579]

Keep pushing and surrounding yourself similar people to keep u motivated.

[@LDT7Y]

Everyone I know is fine with debt, leverage, gearing, or whatever else they call it. And FPU doesn't seem to exist where I live.

[@darioriccio2559]

This guy is great. Miss his energy!

[@junkcars4173]

Get a second job at 50? It's a little tough when the body can't anymore.

[@QuestionEverythingButWHY]

“Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” ― H. Jackson Brown Jr., P.S. I Love You

[@blackworldtraveler3711]

Yup. One of the main reasons I’ve been saving and investing since 10th grade staying out of debt. Been doing everything and seeing places I’ve read about in book,in TV and movies since mid 20s including early retirement. Seem like everything I’ve done since being on my own I’ve been told buy someone over 50 they wish they’ve done this or that.

[@roadrunner9622]

When you're 20 yrs old, 10-15 years sounds like forever. When you're 50 yrs old, you can FEEL that it's only two or three sets of 5 years each. That's it.

[@davidliang913]

Better late than never! No matter the age keep at your dreams!

[@SmallSpoonBrigade]

Yes, she's going to lose out on a bunch of compounding, but anything that gets saved at any age is better than not having it saved. It's just that when you're getting closer and closer to retirement you get less help from compounding interest.

[@RKmndo]

Yup. KFC didn't take off until Col Sanders was in his 60s.

[@susanedghill609]

Angie.....it is never too late......stay focused, stay out of debt and save everything and give some ...... you will get there.....😇

[@Stillnapie]

All the people that laughed at my semi-frugal lifestyle when I was in my 20's-30's-40's are crying poor now as I am retired with a substantial portfolio and a comfortable life. We never carried debt, did not buy what we didn't need (we enjoyed life, good restaurants, nice clothes and hobbies but not to excess..) I paid for my daughters education so she has zero student debt. I was following this process before it was a "process", it is just financial common sense...

[@topcomment3816]

Ok 🤷🏻‍♂️ Now we laugh at you looking for validation on KZbin?

[@kellyy9349]

Found out about Dave from a millennial. She talked above Dave all the time. So, here I am checking Dave out! Dave is very wise. However, the millennial is misinterpreting Dave's advices and have taken it to extreme.

[@bonnevillebagger9147]

Stand4 Freedom you haven’t watched enough Dave then. There’s the rice and beans, Dave car, gazelle intense approach, that a lot of us follow.

[@Stillnapie]

@@kellyy9349 "Advise"... What is so extreme?

[@topcomment3816]

Google User Yep. So do you.

[@cur244]

Once you start having the retirement automatically taken from your paycheck you adjust and don't notice much. After gradually increasing it you can eventually max it out. Automatic was key for me so it can't be spent.

[@c103110a]

I thought they were going to mention > 50 YO "catch-up contributions" to 401K, ROTH, Traditional IRAs. They didn't even mention this tax-differed benefit. Wow.

[@tejano2828]

What? are you serious, I'm out.

[@blackworldtraveler3711]

You thought wrong.

[@thecatnextdoor12]

They themselves do not need them so it skipped their minds.

[@DarkSkinnedMichaelJackson]

Because that is already included in the Baby Steps that’s why they don’t need to mention it.

[@SD-ct7hd]

I could listen to Chris talk all day

[@1.5Koreans0.5American]

Who’s trying to retire early? 🙋‍♀️

[@SmallSpoonBrigade]

People probably shouldn't strive for that. Striving to be able to retire early is great, but actually retiring early comes with a ton of downsides. Being in a place where you can work if you feel like it and can afford to work part time jobs without worrying about the bills is much better than actually retiring. Plus, you can do that without as much savings.

[@jayh40515]

@@SmallSpoonBrigade What I am striving for is not necessarily retiring early, I am only 38. What I am striving for is the "option" to be able too if I desire. Just because you can, doesn't mean you half to if you want to work. The only downside of not trying to retire early is your body being worn down, sick, etc and not being able to work anymore, but guess what, you are broke and can't afford to retire. There is NEVER a bad time to start saving for retirement, and saving as much as possible regardless if you are 20 or 50. Options give you power and peace of mind, so give that gift to yourself.

[@ClaxtonBay123]

@@SmallSpoonBrigade That's the ENTIRE point of Retiring Early. Being able to do whatever you want. Including working jobs that you actually care about because you don't need the money. You're not making any distinction here.

[@Stillnapie]

Strive to be in control of your future whatever that looks like for you...

[@ChrisMFlorida]

@Corolla 2018 oof

[@Je.rone_]

This is a question some of my people in their 50s are asking... for some of them it seems it'll be tough, easily the ones who are risk adverse

[@MVF0RLYFE]

The dislikes are by American Distress

[@blackworldtraveler3711]

Heck the broke 50 year old is most likely to thumb it down hearing this advice than a dividend paying company that’s been around since mid 1800s.

[@ryant2568]

Definitely possible. 15 years with a standard 7% investment return if you put in $1500 a month you would have half a million dollars come retirement. As long as you have paid off your house and all the other nasty debts then that is a nice chunk of change to retire on.

[@vanguardvaluist2614]

1. Vision and Why 2. Written Budget 3. Second Job 4. Max out Investments 5. This is a recording.

[@ClaxtonBay123]

At 50, even debt free it's tough to cram enough money in your retirement/brokerage accounts. 15% is definitely not going to get it done. They'll need to maxing out everything

[@AbcDino843]

Even if they put aside 25% of their income, it won't be enough. There's no magic, you can will it into existence. Not knowing what their income is, I wonder if real estate investment would generate more income in the end.

[@timmoss5756]

I picked up another job 550 a week after taxes paid weekly in addition to my primary job. It can be done plus internet income within little effort. We can do it GenX

[@aristac9257]

@@AbcDino843you can’t know this is true. You have zero idea what their income is. ??

[@AbcDino843]

@@aristac9257 right, but the vast majority of people fall in the category of not making enough money, so it's not an unreasonable assumption that they probably didn't have a lot of expendable income, especially considering they're from California, as am I, and how expensive life is here.

[@aristac9257]

@@AbcDino843 Okay, then I think rather than say across the board 25% isn’t going to do it-which is dream killing for them and for many. You should say with X amount of income and X expenses it isnt going to happen. That is prove-able. Then Dave would probably say you need to get income up and lower expenses. If someone makes decent money and keep’s expenses low it is possible.

[@bgibson5517]

Debt Free is Financial Freedom, that may lead to other freedoms and living life's journey with purpose.

[@blackworldtraveler3711]

It’s guaranteed.

[@patandbrandi]

just remember that total in 401k is taxed when you pull it out. also have a taxable trading account like etrade where you can acess the money before retirement. not that you should but so you dont get hit with penalties if you pull from 401k. this is only after filling up the roth as well.

[@lorrainei1622]

Well 50s too late for me, I started planning for my retirement since my 20s because I just refuse to work when I’m old. I’m glad I started early idk why anyone would start planning at 50 that’s just ridiculous to me.

[@pixie1310]

I'm 35 and really worried about retirement . But I'm more worried about dying. I have 4 kids and I DO NOT WANT TO DIE!!! I keep thinking I'm almost 40, which means I'm almost 60, which means I have 30 years left if I'm lucky. I actually just found out I suffer from thanatophobia.

[@keke8880]

I'm sorry. Do you have life insurance and a will? That might take some of the anxiety away.

[@pixie1310]

Keke yes I do. It’s just that I don’t want to leave my kids. And also because I don’t know what will happen when I die. And when you die, that’s it. You’re done on earth forever!!

[@carlkpsplucky5554]

pixie1310 bud, your thinking to far ahead. With the medical tech today, you should easily live past 80, assuming you don’t get into any unfortunate accidents. Your not even middle aged. So chill, save, invest, and enjoy life. Though I’m 17, I’ve fully accepted I have to pass one day. It’s part of life.

[@pixie1310]

@@carlkpsplucky5554 I have Thanatophobia.

[@KC-dr3cg]

There is a difference in physical ability often as you get older.. sometimes an older caller might not be sharing the impact of starting to age. This caller at 50 may be fine..but it's a reality that many people will not confess their limitations. Not every area has broadband for working from home or an opportunity to deliver pizzas on their town of 800 people. In these cases I believe steering a caller to an endorsed financial coach could be the answer.

[@mattk1124]

The more wealth I accumulate the more I think retirement is just a ridiculous idea

[@Killerkiki313]

What do you mean?

[@mattk1124]

@@Killerkiki313 to retire is to expire

[@Killerkiki313]

@@mattk1124 gotcha. So you just mean not working isn’t good for you. But you still support saving for possible retirement?

[@mattk1124]

i dont like the idea of retiring ever @@Killerkiki313

[@leadnsteel1428]

im going to be working until im 70

[@ACCOMPLISHEDSHEIS]

ITS NEVER TOO LATE TO SAVE AND INVEST. AT LEAST YOU WILL HAVE SOMETHING. SURE BEATS NOTHING.

[@meMiner]

Yeah. When's the best time to plant a tree? 30 years ago and today

[@WildL23]

Yea if you win the lottery, start a good business, etc.

[@kimberlye8846]

Thank you for this content. I needed to hear it. I have a plan and can see the light at the end of the tunnel. Baby Steps, being purposeful and King Jesus will get me there. 😃💗👍🎉

[@susanedghill609]

Keep going, Kimberley.......Prov. 3:5-6

[@kimberlye8846]

Susan Edghill Thank you 🙏

[@financiallift6185]

At least it's not a case where they're having to retire with very little money or are broke. Unfortunately that case is going to become more common

[@SmallSpoonBrigade]

It is and sadly, it shouldn't be the case. These days, you can start an investment account with very little money and very little effort. I've got a couple of investment accounts and I can put tiny amounts of money in them and I just periodically check them. The computers automatically balance the portfolio to match what I bought in on. Makes it incredibly easy to save, even if all you have available is a few dollars a week. The end result is that there's no reason for people to not have at least some investments, even if those investments are ultimately insufficient, at least you're getting some benefit out of the market.

[@chadparks9810]

Sure miss seeing this guy....I could care less about his personal life, as that's not what I tuned in to listen to. Would love to see Dave bring him back after a healing period and think the audience would love it.

[@vickinicole]

I have this same question because I am 47, in grad school, and I won't have a job in my career till I am 49/50 years old. I have nothing saved now except Baby Step 1. I don't plan to retire till I'm 75 years old.

[@Sexy40baby1]

Time to devise a plan.

[@mollygiovanna1095]

Quit school get a job. School costs a lot of money. Time for school equals lost income.

[@vickinicole]

Absolutely not. I did not quit school. I got my Masters in Accounting and now I am working as an accountant.@@mollygiovanna1095

[@JK20239]

If you can retire with only 40k per year in retirement. Yes you can. If you throw 25k a year into retirement from 50 to 65

[@greatriffishere]

Dave, always uses that 15% of your income !!! That's way too conservative !!! I put in 66 % of my income into retirement accounts each year!!

[@JK20239]

@@greatriffishere because you are FIRE. Dave is trying to give this lady hope. Lol. You're probably going to retire at 50 rather than 65. Winner!

[@blackworldtraveler3711]

greatriffishere He’s also telling people to maintain such small amounts in emergency fund. I think many see the problem with that now.

[@blackworldtraveler3711]

Joshua I save that much and I’m not FIRE. Just don’t want or need to spend every cent I earn buying nonsense and paying interest/penalties on debt and whatnot. No stress to deal with. Not going to spend just to spend. And living on zero mortgage and zero debt is a great feeling. Being free to work less,more travel and time off without pay,staying home instead of driving in snow and ice,even more freedom to do what I want.

[@thecatnextdoor12]

@@greatriffishere Same. Just use compound calculator and you can clearly see that 15% is not enough to ever be able to retire.

[@juliannemcintyre1152]

We need more of Chris Hogan.

[@charletfoster8917]

Great advice she can do it!!!👍🏿

[@muhammadafzalshuhilahmad4675]

I love how the tumblers match their shirts

[@nakedshadows]

I’m 32, have about 50k in cash, and 40k in investments, no debt, no 401k or money in a retirement account. Am I in a good place?

[@lulimau8478]

I miss you Chris!!

[@Miamiflow885]

age 50 the window is closing Translation youre close to death

[@EngLife]

I love it when I see a video with the man with the chocolate voice.

[@joshgoul2739]

I am a 20yr old community college student still driving a crashed 2003 Nissan Altima. Should I was wondering if I should use the money I got the insurance for a down payment.I was wondering if I should finance a car or just buy a another hoopty. I live at home with my parents and pay no bills. Also I’m leaving for rowan university in a year so I something reliable that can make it back and forth. Everyone saying that If I’m going finance a car it should be new and not used. But I also can pay for certified preowned out right which everyone says would be a waste of that money. What should I do?

[@blackworldtraveler3711]

Get new friends.

[@henri6595]

I forgot to mention that you should have some basic mechanical skills to maintain the used car. Lookup Scotty Killmer and ChrisFix on KZbin, to save you big bucks on repairs.

[@1970broncoman]

Chris Hogan been on fire lately 💪

[@DisabilityExams]

Saving 15% at age 50 for retirement is likely not saving enough.

[@corykelley187]

40% of my check goes into my 401k VRGWX ALL THE WAY

[@roburb73]

I am 47 (wife 37) and we're putting $6-$7K a month for the next 7 and then I'll think about being done by 55 and her potentially by 50. Income is your greatest asset! It absolutely can be done!!!

[@marktheshark2569]

Good for u most people don’t have a 200k+ income

[@robertspencer5219]

Loved this one. The only thing they forgot was starting a side hustle or business!

[@georgewest-perry6103]

They did mention getting a second job but you’re right. Specifically left off side hustle/business

[@blackworldtraveler3711]

George West-Perry Usually that is a second job.

[@richardn2129]

THE DAVE RAMSEY AND BARRY WHITE SHOW.

[@Sexy40baby1]

It may not be too late but you may have to throw a lot more in those investment accts. As they always say its takes time in the market for the compounding to happen.

[@eloise7600]

That voice tho’!🤣

[@alexmueller828]

Dang, thought that was a voice filter at the beginning of the video listening to audio-only.

[@slappymcface5681]

Never give up

[@DanielGarcia-zz9eg]

Lol. Putting it all on Red and let it ride. (Lol)

[@chrisgallant42]

I’m starting over lost everything at age 49 I make 156k year now what do I do you? What is the best investments

[@damondiehl5637]

Easiest way is to buy a fund that mimics the S&P500. Set up automatic deductions from your paycheck to your 401k. Maybe also open an IRA and contribute to that, as well.

[@johnazhderian5734]

Retirement is an obsolete concept. You will be working for the rest of your life to live a decent standard of living.

[@natalielinden]

That's not true at all...almost everyone listening to Ramsey's advice have a plan to retire. He wouldn't have a show if people weren't consistently doing well following his advice.

[@blackworldtraveler3711]

I just retired in April at 54.

[@SmallSpoonBrigade]

If you own your own home and have a decent amount saved, then you'll probably be fine. Unfortunately, around here things are very expensive, the unit I live in costs about $1200 a month between property taxes and HOA fees. And it's relatively inexpensive for the area. If I got social security right now for the full benefit, I'd be making about $1100 a month. But, that will go up as I work the next 25-32 years.

[@topcomment3816]

I retired at 34. But it certainly wasn’t from following Dave’s advice.

[@blackworldtraveler3711]

Top Comment Same here.

[@alegriadelsol4862]

Don’t make excuses, make plays! Love it!

[@FightNewsYT]

This is an interesting topic. I'd love to include this in my NEXT vids. 💯

[@JS-tg1hv]

Increase those 401k and IRA contributions!

[@matthewoosterloo351]

How do you do this in South Africa?

[@magaritaavila8535]

Yes you have 12 years to save. Follow Dave Ramsey method to the T.

[@scotttracy9333]

My kids colleges and their weddings will mean if I save enough I can be broke by the time I'm 65. I'm feeling soooo helpless.

[@ChrisMFlorida]

No one says you have to fully fund either of those. Help if you are able to, but once they are grown they are on their own.

[@DCLover72]

You do not have to pay for those things.

[@blackworldtraveler3711]

I’ve worked with quite a few that did exactly that and paying the price at 60. My parents told me before JR high I wasn’t getting anything and started me saving early, working,and told me to try for a scholarship which I did.

[@henri6595]

Don't pay for your kids college. They can figure it out themselves. Debt creates responsibility!

[@carlkpsplucky5554]

Why are you paying for their weddings exactly? They can get married when their financially able to fund it themselves.

[@kckuc310]

Stop spending!

[@FightForTruthMedia]

DAVE IS THE ABSOLUTE MAN! He inspired me to create my own Christian KZbin Channel to refute the lies of cultural Christianity! Check it out!

[@MsDF936]

Who can afford to save 15% of their income?

[@user-vu3jz6xm1i]

I need a lottery win to retire 😢

[@roryshipowick3827]

the thumbnail had dave in it?

[@CaKiteboarding]

Hello, Can I add to my 401K for last year 2023 before April 15, 2024? Let’s say I have 15k in and I am over 50. Can I still add to it or catch up or does it all have to be before December 31st 2023? Thanks

[@damondiehl5637]

Too late, now, but yes. You have until April 15th to contribute to the previous year.

[@angelao.beckford6052]

What is an avarage income? I'm 52. In baby steps 2. Less than 35,000. Single mom.

[@blackworldtraveler3711]

Where I live it is $60k which is pretty good in Tulsa.

[@stuartclubb4302]

Using information from the fourth fiscal quarter of 2019, the BLS claims that in that quarter, the median income for a full-time wage or salary worker on a weekly basis was $936. For a 40-hour work week, this translates to a yearly income of approximately $48,672.

[@wantapgt]

Love this mans voice.

[@JohnAdmiralAwesome]

"air in your lungs"

[@joanngennaro5095]

What about 61? I have a nest egg.

[@richardguthrie3422]

What is the goal though ? A paid off house and $1M in retirement savings ?

[@VegasMilgauss]

Luke… I am your Father

[@SunButterfly80]

They look and sound like they're related. Lol!

[@WildL23]

I disagree that the shortest distance between being broke and wealth is the baby steps. It might be the safest or surest way but certainly not the fastest/shortest way 😂😂😂😂

[@TS-iz5wj]

Please explain with taking into account risk.

[@SmallSpoonBrigade]

What tends to happen if you try and do it other ways, is that things get in the way or you lose focus. This week I'm going out of state for a funeral, but because I didn't skip baby step 1, I had the cash on hand to pay for the plane tickets. Had I not had that, I would have had to either not go or put the money on a credit card. Similarly, if you don't have a serious emergency fund and you lose a job, you could easily find yourself back at step 0 and homeless. If you have good luck, you might be able to get wealthy quicker, but it requires luck and more discipline than people typically have.

[@topcomment3816]

Chris L I am wealthy and it wasn’t from following baby steps. Saying that people like me got lucky is honestly pretty offensive. But deep down, you’re just creating excuses as to why others are rich and you are not.

[@WildL23]

@@TS-iz5wj Do your research, there are faster ways

[@WildL23]

@@SmallSpoonBrigade I don't have to read all that. What I said is true regardless.

[@The.Man.WithAPlan]

Yeah win the lottery. Just like me you will be working at 90

[@bobbleheadmoe]

I just can’t listen to him

[@marcoscastro1398]

Ok do 50 is not that bad,because Americans are living up to 100 now thanks to medicine and good vitamins,also exercise and artificial intelligence that can help you improve your health.

[@KS-cl8br]

All the cohosts except John Delany just parrot Dave and act as yes people and sales people.

[@bonnevillebagger9147]

That’s what is called a consistent message.

[@jarrettpierce5626]

Nope lol

[@mrblexit7152]

Get into crypto before the bull market hits

[@chedisLoL]

please keep stupid investment advice to yourself.

[@blackworldtraveler3711]

You should get out of debt and financially secure first.

[@SmallSpoonBrigade]

@C B Pretty much anybody with two brain cells to rub together has been saying that for many years. It's like investing in gold, it can work, but even if it does work, you're probably still better off with more conventional investments where there's at least some legal protections in place against the worst case scenarios. Provided you have a well-diversified portfolio.

[@sweetgirl8226]

cool, guy 🌸 🍎 🙌