I’m 54 With No Retirement Savings—Can I Still Retire Comfortably?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 8 May 2026

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVestor. Connect with an investing pro near you at
0:09.6	Ramsey Solutions.com slash SmartVester. Frank is in Toronto. Hey, Frank. How are you? Not bad, Dave.
0:18.6	I finally got through to talk to you. Well, we're glad you did. How can we help, sir?
0:22.8	I was just wondering, looking for future planning purposes here, of once I get to baby step
0:30.8	before, which I believe is saving 15% towards retirement, that I could have to maybe have to go a little more gung hold than that
0:41.2	because I'm 54 and don't have anything safe for retirement. I'll have $215,000 worth of
0:50.6	retirement investment room when I get to that stage.
0:56.7	I'll be debt free in eight months.
0:58.9	Good.
1:00.2	I've actually set the date for November the 6th.
1:04.0	Mm-hmm.
1:04.8	And then I'll have my emergency fund of $10,000 saved.
1:09.2	I have $3,000, and I just did a budget.
1:12.4	I got $3,000 each month in room.
1:15.8	What's your household income?
1:19.6	Right now it's just me.
1:21.3	I'm the household.
1:23.4	5,600 net per month.
1:25.8	Okay.
1:26.7	All right.
1:27.1	So if you save 15% of your growth annually into good growth stock mutual funds inside
1:34.9	of your retirement plan, now you're in Canada, so it's a little different, but still,
	...

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