I'm Scared That I Don't Have Enough For Retirement!

💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolu...

[@MegatPage]

I admire your dedication to educating your audience. We all aim for financial stability and a better life after retirement. Achieving this is possible through wise investments, frugal living, and careful budgeting. I'm grateful that I learned the importance of working hard for financial freedom at a young age.

[@EleanorBaker474]

Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.

[@StacieBMui]

I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years

[@StocksWolf752]

Could you kindly elaborate on the advisor's background and qualifications?

[@StacieBMui]

The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name, She's established.

[@VictorBiggerstaff]

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

[@ggreddy3568]

She seems to be a humble woman. She did great....being a bus driver ..she is an inspiration to all of us who earn more than her to save well. Enjoy your fun money but save when you have to for your future.

[@SIRcodename22]

Investing skills level 1 Hard work level 10 Determination level 50 Frugality level 100 She will finish the game as a millionaire. Well played madame!

[@adamkhoo6650]

Reach my manager ELLA PEREZ for successful investment💬

[@adamkhoo6650]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4

[@korhonenemilia1816]

She already has finished a millionaire! 400k farm and 600k savings after all...

[@ojibwayinca8487]

Now THIS was just delightful. I wanted to stand and applause at the end. This is what Dave's show is all about.

[@peterhoffman8525]

To "Barbara in Missouri", you are doing Great! Congratulations! Retire asap if you want to!! Enjoy the fruits of your labor!

[@androidphone6972]

At 45 with hardly 5k in savings and a ton of debt, this lady is a smart angel in my mind. She did so well.

[@rvh77]

I figure I'll have to work a few years beyond my death.

[@monealiza7553]

lol :)

[@BboyDaquack]

after you die you can upgrade to name brand rice and beans. of course you'll still need to drive the whoopdy

[@simplyme922]

I refuse. Saving all I can aside from 401k, and hopefully a little social security. I won't be rich but I'll be alright. And I started kind of late too.

[@justlivelovelaughfrugally]

Me too! Lol

[@11fireflower]

Same here 😀😀😀

[@michaelhall7028]

Dave was expecting her to have a small amount of money in the bank, you can see his surprise 1:16 when she said that she has $624,000 in the bank. This woman is wealthy, she is doing better than 95% of adults in the USA. She doesn't have a problem, she is a millionaire.

[@ericlee2931]

That was not "in the bank" it was invested in State farm and other investments , 36000 was in the bank, But she is still in the driver seat.

[@---Joy---]

Allow me: - YES, you have enough. - NO, you don't know if you'll be here a day, a week, a year or 10 yrs. from now so... - RETIRE now & enjoy the rest of your life. You earned it!

[@macoy321]

amen!

[@Peter-zv4dx]

Can i retire with u?

[@robertrichardson5305]

She’s doing really well

[@brittanyclark6949]

Yes she is, better than most Americans. she should consider investing in real estate also.

[@shermandaniels6707]

@@brittanyclark6949 you’re right, łnvesting in different strēams of incomė that don't depend on the governmęnt to bring in money especially now the pandemįc is hitting the econōmy pretty hard will be the wísest decįsion anyone can make.

[@roseanderson2169]

@@shermandaniels6707 Stock trading can be a very lucrative venture if you trade smartly, and trading smartly involves the use of the best strategies with the aid of a professional trader .

[@vincentmccall4163]

@@shermandaniels6707 People make the mistake of waiting for the government to provide everything for them and if you ask me, it is totally wrong.

[@adrianbarrett7710]

@@roseanderson2169 This is a great tip, I am considering investing in stocks but I have no idea about stocks to buy or what to assets would the highest yielding potential and so on, Do you have more clues that could help?

[@marthacalkins8054]

I retired at 62 with about the same amount. Good stewardship and good luck has grown it to about 750K. I told my money guy, “I don’t know if I’m retiring for good, but I’m retiring for now.” Haven’t looked back.

[@malcolmdenver4623]

How have you handled health insurance?

[@marthacalkins8054]

@@malcolmdenver4623 I paid for COBRA until Medicare kicked in.

[@malcolmdenver4623]

@@marthacalkins8054 Thank you.

[@PrettyGoodLookin]

What type of money guy do you use ? ( I am new to this situation )

[@marthacalkins8054]

@@PrettyGoodLookin I started out with Ric Edelman. A while ago, my guy there went out on his own. I got very lucky, & consider him a good friend, but interview several, make sure the one you settle on is a fiduciary and not a glorified salesman. Have a list of specific questions to be answered.

[@jesusbowls]

It is irresponsible of Dave to even hint at a 10% withdrawal rate for a 60-year old. She should be thinking about 4% max, and probably lower given our current interest rate environment.

[@markmoss5559]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4

[@deuteriumjones]

Smarter than 90% of Americans and she drives a school bus.

[@livingunashamed4869]

She's inspiring, shows its not all about how much you make but how you save/invest what you do have.

[@justinacase2623]

@Ron Si we all are, just some quicker than others. We are born to die.

[@costco_pizza]

@@justinacase2623 Sadly most people don't think this way. They think that they need to live in the moment and have fun while they are young. Savings doesn't mean anything to them. Not only that they resent others who don't think the way they do. I am sure this lady doesn't regret "not living it up" in her younger days since she now has over $600k saved up.

[@Tkenny35]

@@costco_pizza agree with your point but also want to say living in the moment and having fun while you’re young is not wrong. Where it gets to be wrong is idiots who live in the moment and have fun but wonder why they are broke or can’t seem to understand why they are so behind. Can’t have both worlds. Some people don’t care about money and just make enough to survive but that is a choice they are fully aware of making then there’s people who care about money but spend 5k on a trip to Italy at 21 years old because they need a break and work at Starbucks and wonder why they are broke....

[@rothbj1]

4:50 She's done fantastic no doubt, but it struck me that said 'she always lived as if I was on minimum wage'. I hope fear doesn't hold her back on having a enjoyable retirement.

[@rothbj1]

@Muddobber McCrablice I get you. But I was struck by the 'minimum wage' reference. If taken literally, that's an a pretty austere existence. I hope she doesn't have the thermostat set at 62 jsut out of fear for example.

[@reneehenderson4818]

She lives on a farm that she loves. She drives a bus, that shes loved doing saving and being frugal has been her way of life for a long time. She has blessings I don't have, on 1,200/mo. She already IS happy. And her happiness was probably never about the money.

[@gretabrown3015]

WOW!!! A millionaire bus driver; I’m a school teacher and all I can say is WOW!!!

[@madambutterfly7513]

Well obviously, this lady knows how to manage her money! I'm happy for her

[@captainh3831]

You might be surprised at what non school bus drivers can make...like NJ Transit or other major carriers.

[@calbob750]

Remember the good old days when Americans saved ten percent of every pay check. In the good old days the average household had one car and one TV and no credit cards.

[@daultontemplet4016]

And savings interest rates weren't 0.01%.

[@kbanghart]

And one income per household was fine, because wages were higher versus inflation.

[@callieduval3000]

We were poor we didn't have enough to save but I have learned better

[@BitterComments]

My dad’s a lawyer and my mom a hospital research assistant, both 53 years old. They’ve got tens of thousands of dollars in debt and nowhere near this woman’s savings.

[@mph5896]

Somebody was ripping on my youtube image Hey, I drive cheap cars and bank the rest.

[@nemishasharma5737]

@E Cox uncle here too, princely lifestyle and tonnes of debt

[@michelarosier1918]

Wow, 😳😳😳😳

[@Blessedandhighlyfavor]

@@michelarosier1918 🤣🤣

[@caroleehubbard8380]

Right? So true! I have friends who were live'n the high life. The husband was at management level in car sales...big bucks! (6 figures) . Me the lowly waitress most of my life. They, however lived and spent recklessly throughout their lives (it was crazy to watch them spend, spend, spend). No saving, just spend, spend, spend. They are in their 60's now, both homeless in Phoenix, AZ somewhere. I lived extremely frugal durning my life, but still traveled (New Zealand, Costa Rica, Mexico, but stay'd in Hostels and camped etc) ate in restaurants , went to the movies, had fun..but on a budget. I saved roughly 50% of my income when possible. Used it to buy real estate during the housing crash in 2008. I now own (4) rental properties all but one paid in full. Will retire a millionaire . It's very possible...but the Dave Ramsey Beans and Rice mindset is what will get you there. Stop spending like a maniac...seriously, money accumulates very fast when you don't spend it!

[@stefanossmitty3318]

I can’t be the only who thought she was gonna say “I’m 60 and in 100K in debt and $500 in the bank.” Relatively speaking, she has a great problem. Good for her!

[@mariejones7136]

I know right..what is her issue??smh

[@stefanossmitty3318]

@@mariejones7136 🤣😂🤣😂🤷🏾‍♂️

[@MelissaandMoney]

I think she is just uneducated in investing and scared to make a decision to retire, it's a nice surprise for her, I'm sure!

[@ramenandgyoza702]

If a School Bus Driver can be an Everyday Millionaire, we can do it too! Feeling hopeful!

[@livingunashamed4869]

Don't knock bus drivers, the pay isn't that bad. They make more than me.

[@ajh.4131]

@@livingunashamed4869 True. School bus drivers in my area make $20 an hour easily. And that’s just starting.

[@betruetoyourself7162]

@@livingunashamed4869 their benefits are great

[@robinsutton577]

She said she had TSP (Thrift Savings Account), which means she was a Federal employee at one time.

[@blackworldtraveler3711]

Easy to do in Oklahoma. First millionaire I’ve ever met here used to be a high school janitor.

[@cdm9011]

yeah dave, this woman should put all of her retirement into agressive growth funds right before retirement age. that is excellent advice. not everyone can stomach through a potential 50% drawdown that could take 3-5 years to recover from historically speaking. so her 600k becomes 300k and the withdrawls become a higher percentage which then is eating away at the principle. your advice on debt and budgeting is wonderful, but you investment advice terrifies me.

[@Darltk]

She is doing great! There are so many people I talk to at this age that barely have anything. No 401 and don't save a penny. I would have more if I would have been more frugal earlier in life. Now I throw as much money towards investing as I can. Good for her.

[@andysorensen1737]

I love how humble she is. I bet she had no freaking clue that she actually was a millionaire before that

[@hopefletcher7420]

I remember watching the Susie Orman show a few years ago and she complimented a couple in their late 50s because they had a little over a million dollars in net worth. And a light bulb went on over my head that I WAS A MILLIONAIRE TOO! I knew I had all that money but had never put a label on it. It kind of shocked me. All those years of putting the max in my 401k and the IRAs and savings added up.

[@TheTbabylati]

This the best one I’ve heard in a while. Debt free with over a half of million she’s richer than most Americans

[@TheTbabylati]

@P Ugslee it’s enough for herself to live off of it.

[@saiga12forme88]

If you have one dollar to your name and no debt you are richer than most Americans. Almost all are in debt. (Now there's 'good' debt and bad debt, but even 'good' debt can easily get you into trouble. Debt to buy an income producing asset is how many wealthy people make their money but it can all come crashing down too.)

[@shree711]

Bus driver millionaire with 168 acres

[@CaseyBurnsInvesting]

She’s killing it. Something to be modeled by the rest of society.

[@InvestAndGrow2020]

Caseeeeee dawwwgggg

[@1979wood]

Here you go Casey again lol

[@phaworth8520]

Yes, especially about saving over spending.

[@ainurabeisheeva3415]

"No matter how much money I made I was lived as if I were on a minimum wage". Wow!

[@allfreemedia717]

Her: i have 624k and i can live off 1,200 a month Life : im i a joke to you?

[@Iamjustherek]

Grim Reaper: How long are you planning to live??? 😰

[@athens31415]

@@KayKay0314 It depends on where you live. I lived on 1400/month as a graduate student in a low cost of living area, no problem.

[@ericlee2931]

@@KayKay0314 I see no problem . I do 1416 a month with a mortgage, truck payment, gas bill, water, electrical and cable, and I am NOT retired.. I eat out occasionally... own season tickets to my NFL team.. Get rid of your Starbucks dude

[@cato451]

$624k. Nice!! She’ll be fine.

[@jensallis2]

Barbara - well done! So glad you called in. You will be just fine. Enjoy the farm!

[@windingpath]

I thought this was one of those depressing calls until I heard the 624k in savings.

[@jdls12]

She really just turned my entire attitude around right now. “You don’t know how long you’re gonna live...” that right there is somebody who absolutely loves life and everything about it. Most people say “tomorrow isn’t promised”. She treats each second like an eternity. What a beautiful person.

[@michaelrusso3701]

I think assuming a 10% ave return is a little strong.

[@1486230]

Yep, I was thinking the same thing. Someone looking to retire needs to de-risk.

[@jculver1674]

Imagine living in a country where you can become a millionaire driving a bus. Now tell me again about how you can't make it in America, Bernie Bros.

[@jesuschristfollower6251]

Amen exactly

[@helloabbylyons]

I love how sweet they are with her 💗

[@trailrunnah8886]

I think Dave had a trouser incident when he heard her bank balance!

[@markmoss5559]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4

[@swirvin704]

Didn’t count her social security check, she’s good.

[@holly1391]

I noticed that too…wonder why they didn’t bring that up

[@louiswachira7015]

It bothers me that they don’t teach this In school😐

[@Cecibug1]

There's a reason they don't.

[@jojachow]

Ramsey has gotten several states to add his financial peace to the curriculum

[@brentagade]

Keep people dumb and relying on the government...

[@iaimforawesome]

Math is taught in school, eventually you learn about compound interest if you make it that far

[@joeycrowder7748]

My senior year Economics teacher had us watch all Dave Ramsey videos during class. Always thought the teacher was just being lazy, lol. Looking back now I appreciate hearing this stuff early on

[@polyglotsjourney]

Millionaire bus driver indeed! 😂 This was an excellent example of the fact that people can make a bunch money even though they know a little about how to manage it. But the point is to make your money work hard for you. Hope the lady will soon figure out that. 😁

[@staceystrukel1917]

She did NOT make her money driving a bus!!!!

[@qenb3649]

she can spend 1800$ every month for the next 30 years to have a balance of zero she is pretty much set I would say.

[@marktheshark2569]

First, she might live longer than 30 years. 2nd and more important you should only spend the interest not the principal plus wanna leave money for kids

[@ethannaka1822]

Imagine if she invested that money her entire life... instead of savings bonds.

[@TartarianTopG]

I was under the impression she changed it as she got close to retirement age to minimize the risk

[@chrischoir3594]

you won't be thinking that when the market goes down 75% and never recovers

[@saptab1344]

@@chrischoir3594 market always recovers

[@chrischoir3594]

@@saptab1344 There is a first for everything. Remember Bear Sterns and Lehman Brothers? I think the biggest mistake most people make is using one broker for all their stocks/investments

[@saptab1344]

@@chrischoir3594 I thought the only reason market crashes is if American economy is absolutely ruined which is highly unlikely

[@aatheus]

Always amazing to hear from folks like her, who suddenly have a huge weight lifted from them when Dave helps them run the numbers on their finances. Millionaire bus driver and she didn't even know it.

[@AaAa-ri4uf]

Lol I love how Dave allows Anthony O’Neil be a represwntive of his brand, sure he may not have the experience, but Dave is mentoring him and it’s humbling to watch

[@robertclontz3728]

Oh my goodness, what a financial success story! Well done, Barbara!!!

[@2-old-Forthischet]

Depending on her monthly expenses, that is wayyyyyyyyyyy more than I had when I retired when I was 58! I still had a mortgage and still managed to retire comfortably. My secret was talking to a financial advisor that did very well for a friend.

[@DrJaredNelson]

Plan early, invest appropriately, retire with integrity.

[@sethbender2863]

This is great. She lives on 1200 a month now. She’s rich in her terms. That’s awesome

[@virginandho1191]

Does this work if I’m currently 29 and have a believing heart? 🥺

[@simonralph6302]

@Xao Yung Kudos! Just recently got laid off and it feels like i'm beginning from the scratch, i have been researching on investing and I came across an investor on an internet radio who mentioned making well over $450,000 in 3months with an investment of $230,000 I'm a beginner and i really would appreciate any insight or clue on how to make good results

[@elizabeththe10th10]

@Bigfoot HunchBack well you didnt have to be mean about it. It is a good time to buy in on stock, so just buy in on stocks.

[@jimenezsaulpaulo3085]

@Xao Yung how did you get to meet your advisor Xao Yung? I need help with reaching my goals but need to do it the right way, pls reply

[@chewbacca4323]

@Xao Yung Can’t wait to be at this point 🙏🏻 I hired a professional for guidance about may 2020 and we’ve paid off some debts. We’ve only got my vehicle left and I’m aiming to pay it off by Dec. the latest. I’m so glad I found him and that my husband jumped on board.

[@jesusantonio7576]

@Xao Yung oh wow😮… This is incredible. I listen to her podcasts sometimes and obviously acquired a bit of an investment addiction and I never really made out time to contact her, never knew she offered these services. Outstanding Broker indeed!

[@nitin198in]

WOW!!!! That’s people with discipline!

[@elchapojr6219]

State Farm didn’t like David Ramsey comment about their investments lol 😂

[@sugacoatme]

168 acres ❤️🤯 shes rich in more ways than one! That’s a blessing 🥰

[@biskit7]

Based on life expectancy charts she has 24 years left.. If she can live on 4% of net worth (26K a year), she could retire today.

[@楊展-b8d]

A 160-acre farm can generate a good amount of money if managed properly .

[@73av8r5]

Good for her. Bucking the trend. Seems like it’s the people who worry about not having enough that actually do.

[@caroleehubbard8380]

Yup, it's a mindset! Live like your poor, you will be very rich!

[@jakelangevin1896]

You could literally hear the weight lifted off this lady's chest after Dave congratulated her. Awesome!

[@nikki509.]

Yes Yes! Read everything, and then say that you did not know about FBC13 algorithm!

[@adamkhoo6650]

Reach my manager ELLA PEREZ for successful investment💬

[@adamkhoo6650]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4

[@sfcrmsa]

She did not add in Social Security, also she lives in an area of lower cost of living.

[@jamiesmart1440]

Investment is the key

[@ericdonald4013]

Actually I see crypto taking all over the financial world's making waves 🌊

[@smithmalon8377]

Crypto is the future 🚀

[@jimmys.fuller3659]

Stocks are good too

[@aaronthomas8963]

Stocks are good Crypto is way better

[@Flow.Monkam]

I wanted to trade Crypto but got confused by the instability in price

[@Mom_sBasement]

So you live your whole life like you’re making minimum wage just to make sure you have enough money to live when you’re old and feeble?

[@DavidEVogel]

I’d explain it to you, but I don’t have any crayons with me right now.

[@autismwalk6855]

Dang...$634,000???!???! Plus she owns a $400,000 farm???!?!!! This woman is about her business, working hard!!! She is not BSing...dang!!!!!

[@riverdaletales8457]

She can rent out her farm if things come to worst .

[@GlynRobinson]

Way to go, Barbara!! Retired bus driver\supervisor myself.

[@dodgeplow]

10%, come on Dave, enough telling retirees to expect 10%

[@jhopkins213]

Yeah he's nuts if he thinks a 10% return is realistic.

[@araineacutebrownnurse7315]

Some people are just good with finances! Good for her !!

[@tyndni]

She needs a financial planner to take the calculated risks for her

[@gregjackman5331]

"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.

[@ashlysmith5306]

I agree with this, I was saving my money for retirement till I understood I could actually make more if I invested. Today I have been able to triple my retirement funds. Invest in assets and you can never be poor.

[@gregjackman5331]

@tracie griffin The truth is, Not everyone is meant for trading but majority of investors who benefit from the stock market without background Knowledge do so with the help of professional traders and brokers. I run my trading Activities through Kyle Holt Karens and she is one of the best brokers out there.

[@craigmenear5686]

@@gregjackman5331 I agree with this comment for several reasons; but particularly because of your choice of Brokerage.. Kyle Holt Karens is a very accomplished Broker with several qualifications to her name and ultimately, bragging rights.

[@judithclerici1462]

@@craigmenear5686 You are right about Kyle Karens, if you go online and search her name; (KYLE HOLT KARENS), you'll find more information about her. You can also Advance to her Website and send her an EMAIL to make inquiries.

[@filipxavier1041]

You have a valid point. I would have a problem with you "advertising" your own advisor but on doing a proper research, I find she is actually licensed with a crd number, great recommendation.

[@rzawistowski33]

I'm 39, didn't really start till I was 33 with 100k in the 401k and 100k in my company retirement, I hope to have 1mill invested and paid off home for my retirement.

[@blackworldtraveler3711]

I’ve done the 401k and have a pension and zero debt but also maxed Roth IRA as well including 20 year emergency fund,addition savings, taxable investments,passive income,etc..

[@bradleycasado]

If she continued her current life style of $1200 per month, she is covered for 43 years. She would need to live to 124 years old to exhaust all of her funds assuming 0 growth on her investments. She is set and has nothing to worry about. :)

[@markg999]

Well with inflation its likely less than that maybe roughly say 30 years. But with any semi decent investments even if just making 4-5% a year she should be set.

[@SwimmingintheDeep]

And she has to pay taxes on those investments as she takes them!...Dave does not cover that.

[@eddiej7259]

@@SwimmingintheDeep Long term the sp500 returns 7% (adjusted for inflation) since its inception. That's 42k a year without her touching her principle, that's more than double what she spends currently. She will be fine

[@SwimmingintheDeep]

@@eddiej7259 I bet she spends a lot more money than she thinks. On a middle class PAID FOR home- taxes and insurance would be $400-600 per month (set aside) and she has 100 acres+ if I remember correctly so I bet her tax bill is closer to 10K per year or more. So that would put her at $1000 a month just for taxes and homeowners insurance.

[@eddiej7259]

@@SwimmingintheDeep average annual property tax paid in Oklahoma is around 1200.... thats PER YEAR. Thats 100 bucks a month. Oklahoma has one of the lowest property taxes in the entire country. She said her property values at about 400k. I plugged that into an Oklahoma property tax calculator and that comes out to 2300 per year. Thats less than 200 bucks a month. She will be fine. That also doesnt account for her selling that property for 400k and downsizing to a small cheap retirement condo that probably costs no more than 60k out in OK. Now that 624k becomes almost a million. 964k with 7% returns is 67,500 per year without even touching her principle. She is extra gucci.

[@teebone2157]

Glad she has 600k available.

[@zulkifalahmad2347]

Aah, what a effing life we are in, save all life and forget to enjoy what we saved.

[@mwernli2886]

Right! And suddenly we’re old and can’t do anymore what we wanted.

[@burropoco]

This woman is clearly very humble. Undoubtedly that humility has contributed much to this success. She's so humble that she doesn't even realise how well she's doing.

[@phoebelu8956]

Ppl would really think 1M is enough for retirement. I am 45, net worth 1.5M...My goal is 3M at 65 to retire.

[@cheynebest7028]

Depends on what lifestyle you want to have. Once you have all your liabilities paid off you don't really need an absorbent nest egg

[@grod805]

I thought she was going to say "648 dollars"

[@Terry794]

😂😂

[@ChrisMFlorida]

same! haha..

[@theamerican7131]

me too lol

[@barbieblue3336]

1:13 love his reaction Sorry she hadn't invested it better before.

[@moonlambo5938]

Even though markets may change, good investing advice is timeless

[@carljones4704]

Do the necessary research, study, and analysis before making any investment decisions

[@bitcoin8138]

By being modest in your spending, you can ensure you will have enough for retirement and can give back to the community as well.

[@podcastclips1242]

Crypto investment is a very lucrative way of making money online now

[@abdullahishanof4724]

I never believed online business can be this profitable,I really appreciate Expert john Harrison for growing my funds

[@cryptonewsalerts1354]

I started investing with 10000 USD through john Harrison in FOREX, I earn 20% of my investments weekly..

[@scottfreeman4190]

The idea that any reasonable investment will earn 10% a year going forward is a complete fantasy. 5% would be fortunate!

[@ERIN_198]

Then you're looking at the wrong investments.

[@jimbragu]

a decent mutual fund or the S&P has averaged 12-13% ROI every year for the past 10

[@sarahhale2519]

Thank you, Dave and Anthony!

[@richardshaw4336]

Just love this video. I've listened a few times. So inspiring. What a lady. Poor Anthony lost the plot there..🤣

[@mariejones7136]

Is she kidding??She is worried about retirement with 600,000??..Go and have some fun..travel,etc..

[@eddiej7259]

600k with an average market return of 7% (adjusted for inflation) will net her about 42k a year. If shes only living off 1200 a month already, that is more than double when she retires. And thats not including the sale of the house if she wants to downsize and buy a smaller place with less maintenance to be had.

[@mariejones7136]

@@eddiej7259..holy moly..she can have a nice life..

[@forresthodge1024]

Honestly, I would be somewhat nervous with retiring on $600k. I would be much more comfortable with about double that, with an ideal amount being about three times that. You have make sure you have enough coming in to offset inflation, assume that social security won't be there for you, medical bills, long-term care for your final few years, etc. It adds up really quickly.

[@eddiej7259]

@@forresthodge1024 that return already factors in a 3% inflation year over year. Historically the US has been averaging 2.2% of inflation year over a year. Unless there's some crazy Zimbabwe like hyperinflation, she's going to be just fine

[@ericlee2931]

@@forresthodge1024 yes , you offer some levity to this discussion, I am also thinking double or more.

[@Mo-bq8lz]

Good steward!

[@dougm1985]

omg, she sure is set for life, now go enjoy some of that money. stop living like your poor, your far from it. take a cruise around the world ( when it opens back up)

[@beeezeee1783]

Dave, I am debt free, I’m a millionaire, and I just won the lottery. Can I buy a small fry from McDonald’s?

[@wanilimbe]

sell the car

[@grantguy8933]

She has 600k plus and worries about retirement.

[@Keshaun1986]

Where was Dave at when I was in high school this is my kind of Math ! It makes so much sense!!

[@JesusCervantes-vl4mb]

I would just retire simple as that go on vacations and enjoy life

[@bengd3785]

Based on her expenditures, start pulling SS at 62 and that'd cover her current expenses. Everything else is extra. Enjoy your retirement, you've done great!

[@reneehenderson4818]

Millionaire school bus driver? Now that's what I'm talking about!

[@erfahnh7127]

Most people don't want to live like they're poor till they're 60. takes a lot of will power to save that much and not spend it. I know I couldnt

[@rrrrrfffff]

If a lot of it is in CDs and bonds like she said, she couldn't spend it if she wanted too. Not until the maturation dates

[@alvick353]

Yes you could you just will not.

[@randyparlor5953]

I like that she spends well within her means, has a small pension, and over $600,000 saved / invested. She definitely can be comfortable retiring given her $1,200 per month lifestyle. The advice seems mostly good. However, it is doubtful she would be able to withdraw 10% per year to live on and not dig into principal within the next ten years or so. Thank the LORD she is not inclined to do so. Something closer to a 5% withdrawal would likely work better to help her never dig into principal if she lives longer. And before you ask, I am a retired multi-millionaire. Not saying Dave is wrong in what could be possible, just offering my thoughts.

[@adamkhoo6650]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4🇱🇷

[@ron.mexico.]

Dave Ramsey’s advisor is with Edward Jones. EJ lingo...

[@harrisonwintergreen1147]

Put the beans on eBay and the rice on Craigslist

[@305nt]

what is the best financial gift for a newborn? I remember when I was young and I got savings bonds from relatives. And I would like to give a monetary gift that could appreciate over time, and once she is 18 it's worth something. It would also be nice if it were something I could put more money into each year.

[@markmoss5559]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4

[@rrrrrfffff]

Savings bonds and CDs aren't a bad idea if it is for a kid that's not yours. They will appreciate, although slowly. If it's your kid (congrats!) you could set up a college fund account for them. This would appreciate better over time, and would come very handy at 18

[@davidskaggs9914]

Million dollar bus driver dang💰💰

[@jojojames217]

At this rate my unborn child will be responsible for my retirement

[@YouSoCute2000]

Move to another country, there are many expat communities.

[@ajh.4131]

Very true. It’s sad because that’s honestly the best way you will live comfortably during retirement. That’s why you always hear of people retiring in Mexico.

[@nperegri]

That was my parent's plan. They are living like royalty abroad on a very modest budget.

[@Big-Government-Is-The-Problem]

nah, Missouri's cost of living is one of the lowest in the country. she has 170 acres of paid off land in a beautiful area, she is killing it.

[@caroleehubbard8380]

Noli P. Which country? That's my plan too...was thinking Spain or Portugal !

[@jessewilson-music]

Lol, I don't think Anthony uses Dave's investing strategy. Haha

[@l.t.egamers6780]

is there really still a person who does not know about the existence of FBC13 algorithm?

[@adamkhoo6650]

Reach my manager ELLA PEREZ for successful investment💬

[@adamkhoo6650]

Her what Sapp +. 1. 9. 1. 4. 2. 0. 6. 0. 4 . 1. 4

[@mycupoverflows7811]

This call made me so happy! 😍

[@caroleehubbard8380]

10% return? What investment pays that? Edit: I have 4 rental investment properties (1) duplex (3) Single family homes, all paid in full for but one. But, if I can sell them (total value almost 1Mil) then earn 10% return, I'd sell right now. However, I don't know any investment where I would get 10% return in my pocket. It gets picked clean by tons of transaction and management fees, then I end up with roughly 4% or 5% tops .. That has been my experience!

[@As_A________Commenter]

I don’t think he was suggesting that she can plan on or expect 10% annualized return, it was more about using simple math to give her an idea. In his example 10% means 60k or 5k a month, then he said 5% is half that or 2.5k a month. Dave is smart enough not to convince someone that 10% is a reasonable expectation, but he wanted to show her than she could begin realizing some amount of money without searing her nest egg will wither away.

[@murc111]

I've had a 401k now for almost 10 years. Since my starting it in early 2011, it has annualized 12.46%. I'm happy with getting over 12% per year, just wish I put more into it, lol.

[@caroleehubbard8380]

Derek Ash That's some Bernie Madoff % returns there. That is not typical and is eyebrow raising numbers I'd say.

[@murc111]

@@caroleehubbard8380 - oh. I have nothing to gauge it by, so I assumed it was slightly better then normal. BTW, just got my 3 month update, it's no longer 12.46%, it's now 14.27%. :)

[@edwardmauer7442]

Dave 's a bit too aggressive in his estimations (counting on 10% a year as a retiree is not advisable) but this lady is well within her means. She could easily double how she's living now and still be totally alright.

[@ClaxtonBay123]

1 Type - Index Fund. SP500 let it ride.

[@Big-Government-Is-The-Problem]

yep, no need to complicate things. the SP500 has massively outperformed almost all mutual funds over the long term. the thing about active fund managers is that they are worried about making the most money they can because they get a cut, so they have no issues with yoloing your money into something high risk that may make massive short term gains, and if it ends up crashing hard they dont care and they move onto the next victim.

[@bigzzz2611]

QQQ

[@ChrisMFlorida]

VTSLACKS