Can I Afford to Retire at 54?
Ramsey Everyday Millionaires
Ramsey Network
4.6 • 3.6K Ratings
🗓️ 31 October 2025
⏱️ 9 minutes
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| 0:00.0 | This episode is brought to you by SmartVester. |
| 0:08.0 | Connect with an investing pro near you at ramsysolutions.com slash smartvester. |
| 0:14.0 | Michael is joining us now in our backyard, Nashville, Tennessee. |
| 0:18.8 | Michael, how can we help? |
| 0:20.4 | Good evening, guys. Thanks for taking my call. You bet. What's going on? Yeah, Tennessee. Michael, how can we help? Good evening, guys. Thanks for taking my call. |
| 0:22.6 | You bet. What's going on? |
| 0:24.3 | Yeah, man. I'm wanting to make a retirement plan for January of 27. |
| 0:29.9 | I meet the retirement protocol for my company, but I'll only be 54. |
| 0:36.5 | And I want to see if I can make the same money after I retire. |
| 0:41.0 | Okay. How do you think you're going to go about doing that? |
| 0:43.4 | So through work, we have a pension plan. I have two options on my pension plan. |
| 0:50.0 | One is that at retirement, I will have $80,000 a year on pension. |
| 0:56.5 | My last year's income was roughly 144. |
| 1:02.3 | Taxable income was $1.20 after I, you know, funded my retirement stuff. |
| 1:08.9 | So I'll be at 80 there, and my $457 will be, you know, funding my retirement stuff. So I'll be at 80 there, and my 457 will be, you know, |
| 1:14.8 | they're projecting 450, but right now it's at 404. So I would like to, you know, he'll make that |
| 1:21.2 | 120 to 140. Okay. Now, when you say that, I want to make sure we're on the same page with you. |
| 1:27.1 | When you say that you mean through pulling out, you know, pulling out from your retirement |
| 1:32.2 | accounts, or are you saying go above and beyond by going out, I'm going to work another job |
| 1:37.2 | while pulling retirement from my old job? |
| 1:39.5 | So, man, I'll tell you, ideally, I would like to be able to retire and live off, you know, that money invested. |
| 1:47.4 | What are you going to do, brother? |
... |
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