How Do We Know How Much We Need for Retirement?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 29 July 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

💰Need Help with your investments? Click here to connect with a SmartVestor Pro. 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: 💵 Sign up for EveryDollar today - Create a free Budget! 🏠To learn more about how to plan for Retirement, click here 🏦To learn more about Investing, click here 🎓Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership 💸 The Ramsey Show Highlights Ramsey Solutions is a paid, non-client promoter of SmartVestor Pros. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Jennifer is in Nashville.
0:24.0	Jennifer, how are you?
0:25.0	Good, thanks, thanks for having me on.
0:27.0	Hi guys.
0:28.0	So I am looking for advice on how to approach planning a budget like retirement.
0:40.2	My husband and I are very different pages about where we are financially and I need to be able to communicate to him that we are close to then he thinks.
0:50.0	Okay, what is your nest egg size?
0:55.0	Broken up?
0:57.0	No, just total.
0:58.0	So we have, oh gosh.
1:01.0	All your investments that you're to live off of at retirement.
1:03.5	That's the discussion, right?
1:05.8	We have it.
1:06.8	Sure, we have a step worth about $1.5 million.
1:10.4	We have another like employer supported retirement fund of maybe a hundred thousand
1:15.9	We have a million in cash. We have zero debt.
1:19.3	Why do you have a million in cash? I don't know. I don't either. We don't know what to do with it. Well you
1:25.1	know you invest it. You invest it. We do have another account with a hundred thousand
1:30.2	that we're investing on our own. All right.
1:34.0	So if you take two and a half million dollars, he's afraid you can't live off of that.
	...

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