I'm 66 And Only Have $30,000 Saved For Retirement!

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[@righand]

The fact that he has 30K saved in 48 years of being an adult means he saved $625 per year. Unreal.

[@thomasjefferson5727]

He has a ton of retirement saved. He just happens to live inside of it. Sell it and get something modest.

[@kortyEdna825]

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2023 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.

[@r.rodriguez4991]

My thought is move houses now and invest the difference as well as doing what Dave recommended. 600K seems like a lot for Missouri to me.

[@edb484]

Calls like this remind to me set for early retirement. I don’t want to still HAVE to work at that age. That’s a bad place to be

[@YeseniaKatz]

As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?

[@MrOfficer235]

I’m disappointed with Dave’s advice. It’s 100% clear they need to sell and downsize.

[@PK-zb6wh]

man, I live in St Louis area, 600k is a McMansion. Pastor living large.

[@reesercliff]

Man Dave was so easy on this guy just because he is a pastor. If he had any other job he be tearing him a new one. Sell the house!!! Also how does a pastor get a $600k house on a $30k income. Something doesn't add up and Dave just ignored it

[@ghostofmanitou6864]

I don't know how taxes are in KC but where I live taxes on a $600K house would be close to $10K per year. With taxes, insurance and maintenance that house is consuming way too much of your income.

[@pangaeamenslijk9183]

He could sell the house and get himself a little $60k condo in the midwest and he'd be 100% fine

[@moeketsimolai7374]

Sell the house and move to a nice $200K condo/townhouse or $300K single family (which is easy to find in the KC/Overland Park area)... and they could easily pay property taxes with social security and live comfortably of the rest of the proceeds just keeping some cash and putting a sizable amount in a taxable investment account...

[@mannyjeanpierre4062]

Salvation and poverty do not have to go together. They are not mutually exclusive

[@spot_of_tea53]

Sell the house, problem solved. Get a small home.

[@shannahmatecun9996]

Love the respect all around and practical advice.

[@JLJ8039]

I would have also sold the house and gotten in a much cheaper townhouse, condo or house.

[@TheDjcarter1966]

They sound like fairly simple folk. You don't need a $600k house in Kansas City. If you sold it today and bought a $400k house you now have a paid for house. Plus maybe $100k in equity, so you have $135k today. Now take the money you were paying toward mortgage and extra an start putting money away. So now you have closer to $300k and a paid for house...live frugally which it sound like you already do and you will be fine

[@mxerb5912]

Sell the home while it’s at its highest. That’s gonna have to be your retirement and buy a 200k condo. He’s a housing bubble popping a way from loosing a few 100k

[@baileybunch9999]

Being a pastor doesn’t mean you don’t work outside of the church. As a Christian, that is something that has always burned me up about many pastors

[@samkurz]

He's got a house worth 600000! Don't feel sorry for him