Can You Still Build Wealth After Starting Over With Nothing at 40?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 25 May 2026

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is brought to you by SmartVestor.
0:07.8	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.7	Daniel is on the line in Salt Lake City.
0:16.8	Hi, Daniel. How are you?
0:18.3	Hey, fellas. How are we doing?
0:19.6	Better than I deserve, sir. How can we help?
0:22.0	Oh, so got divorced about two years ago.
0:27.4	Well, separated two years ago, finalized a year ago.
0:30.9	There was effectively starting over financially, pretty much lost all the equity in the house.
0:41.7	And I'm 42. I've learned a lot of the basics on, I've learned the basics. I've actually learned finance within that
0:47.2	point. I actually understand money now, but it just feels like I'm too late. It feels like I'm
0:52.3	too far behind. And it'll never catch up to actually
0:55.1	retire at a decent age with my back still straight. Yeah. You said you're 40, right? 42.
1:01.6	42. Got divorced at 40. Yeah. And your income is what, sir? Right now it's about 85,000.
1:08.7	Okay. All right.
1:15.6	And so the house and a bunch of the stuff went away.
1:20.9	Did you end up with debt also, or are you debt free but have nothing?
1:21.5	Are you even?
1:23.8	Debt free but have nothing.
1:24.5	Okay.
1:26.8	You have anything in a 401K from before? Yes, but it's, well, so from before,
1:30.0	no. Um, we, it all went to her. Well, yes and no. It's not like she kept it. The, the,
	...

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