I'm 50 with Nothing in Retirement and Living Paycheck-to-Paycheck

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5 • 839 Ratings

🗓️ 26 January 2026

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by CHO, a budget-friendly faith-based alternative to health insurance.
0:07.6	CH Ministries.org slash budget.
0:10.4	I am 50 years old.
0:12.1	I have no retirement, no savings, nothing.
0:16.9	I'm not, I'll be honest, I'm not good with money.
0:20.5	Growing up, I don't have a relationship with my family, never been taught how to manage money, how to budget.
0:28.3	And I would like to start 2026 doing that, and I'm just overwhelmed with how to start, where to start.
0:36.2	I know the snowball, the dead snowball.
0:39.0	I just, you know, I also have health conditions where I was out of work for a month in October.
0:46.3	I was in the hospital, and it's just, it's snowball, and I feel like I just can't catch my breath.
0:51.1	And I don't know where to start or what to do.
0:53.6	Okay.
0:54.0	Well, you came to the right
0:55.2	place and we're going to start with two words. It's possible because you understand the baby steps,
1:02.5	but the idea of how to actually make it work for you seems like an absolute impossibility. True or
1:09.4	false? That is true. Okay, great. So we start with it's possible. All right. So, George, let's do our thing. Let's get into the details. Let's get some numbers. And the fact that you even decided this at 50 is amazing, because I know you think it's too late for you, but there's someone who's going to call in probably today who goes, hey, I'm 62,
1:27.9	and I got nothing saved. So Ann's doing great. She's got a 12-year head start. And so it very much
1:33.1	is possible, and we're going to dig into the numbers here to give you a tactical plan. So are you
1:38.0	working full-time right now? Yes, I am. Okay, what do you make? What do you bring home every month?
1:46.0	I bring home right about $1,400 a month.
1:50.5	Okay.
1:51.6	A pay period, which is every two weeks.
	...

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