I Have Nothing Saved For Retirement And I'm 60

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 5 April 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. I am turning 61 in two weeks.
0:10.6	All right. That sounds exciting. Early birthday. And I have been good with my money all along,
0:18.3	but I have failed to have a retirement fund.
0:21.8	And I'm wondering at this point what I can do so that I can retire maybe at 67.
0:28.5	All right.
0:29.1	Oh, okay.
0:29.7	So we're working with six years to retire.
0:36.3	And you have zero?
0:37.5	George is going to walk you through this, but just a couple quick questions.
0:39.6	You have zero or you have very little or you, what's the real real here on retirement?
0:44.6	I have no retirement fund, but I do have, I have cash and I have no real debt.
0:52.6	The only debt I have is about $9,000 that I took out a 0% interest loan
1:00.0	and did some updates on my house. Okay. Sure sounds like real debt to me.
1:06.2	Well, yeah, that, but other than that, I have no debt. What kind of cash do you have?
1:12.3	About $200,000.
1:14.0	And what's that sitting in?
1:17.6	A couple bank accounts.
1:19.6	Okay.
1:19.9	Just in checking accounts or normal savings accounts?
1:22.9	Are they making 0%?
1:25.4	No, they're making a little bit.
1:27.1	There's a couple of them in savings and then some of it's just cashed.
	...

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