meta_pixel
Tapesearch Logo
Log in
Ramsey Everyday Millionaires

Can I Afford to Retire at 54?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.63.6K Ratings

🗓️ 31 October 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

💵 Sign up for EveryDollar today - Create a free Budget!⁠⁠⁠⁠ Listen to how ordinary people built extraordinary wealth - and how you can, too. You’ll learn how millionaires live on less than they make, avoid debt, invest, and are disciplined and responsible!  Next Steps: 💰Need help with your investments? Connect with a SmartVestor Pro: ⁠⁠⁠⁠(⁠⁠⁠⁠⁠⁠⁠⁠SmartVestor Investing Professionals⁠⁠⁠⁠ ) #PaidEndorsement  📝Get your free copy of Ramsey’s Complete Guide to Investing: (⁠⁠⁠⁠Ramsey's Complete Guide to Investing⁠⁠⁠⁠) 🏦Take a retirement assessment to find out how much you’ll need to retire: (⁠⁠⁠⁠Retire Inspired with the R:IQ Retirement Assessment⁠⁠⁠⁠) 📈See how much your investments could be worth over time with this handy calculator: (⁠⁠⁠⁠Investment Calculator⁠⁠⁠⁠) 🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (⁠⁠⁠⁠Ramsey Investing Tools and Resources⁠⁠⁠⁠)   Listen to more from Ramsey Network ⁠⁠⁠⁠🎙️⁠⁠⁠⁠⁠⁠⁠⁠ The Ramsey Show⁠⁠⁠⁠ 🧠⁠⁠⁠⁠ The Dr. John Delony Show⁠⁠⁠⁠⁠⁠⁠⁠ 🍸⁠⁠⁠⁠⁠⁠⁠⁠ Smart Money Happy Hour⁠⁠⁠⁠⁠⁠⁠⁠ 💡⁠⁠⁠⁠⁠⁠⁠⁠ The Rachel Cruze Show⁠⁠⁠⁠⁠⁠⁠⁠ 💰 ⁠⁠⁠⁠⁠⁠⁠⁠George Kamel⁠⁠⁠⁠⁠⁠⁠⁠ 🪑 ⁠⁠⁠⁠⁠⁠⁠⁠Front Row Seat with Ken Coleman ⁠⁠⁠⁠⁠⁠⁠⁠📈⁠⁠⁠⁠⁠⁠⁠⁠ EntreLeadership⁠⁠⁠⁠⁠⁠⁠⁠ 💸⁠⁠⁠⁠⁠⁠⁠⁠ The Ramsey Show Highlights⁠⁠⁠⁠   ⁠⁠⁠⁠Learn more about your ad choices.⁠⁠⁠⁠ ⁠Ramsey Solutions Privacy Policy⁠⁠⁠⁠

Transcript

Click on a timestamp to play from that location

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?

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.