Is It Too Late for Me to Save for Retirement?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 16 January 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.
0:07.6	Connect with an investing pro near you at Ramsey Solutions.com slash SmartVester.
0:12.2	Susan is in Jacksonville, Florida.
0:16.2	Merry Christmas, Susan.
0:18.2	Merry Christmas and God bless.
0:19.8	Bless you.
0:20.2	How can we help? So I read you an email. I am 57 years
0:25.1	old. I, um... You're what? You're 5-7? I'm 5'7. I'm 57. 57, okay. I'm 57 years old.
0:34.2	Okay. I thought you said 6-7. That was going to be bad for all of us.
0:38.9	So I never thought about retirement. It was just something not in my vocabulary. I spent my
0:47.3	20s and 30s having a good time, very unusual. But now that I'm 57, I'm starting to think about things I should have thought of a long
0:55.3	time ago so I have a little bit in savings I have a little bit in an IRA and my question is is it
1:02.4	too late for me to think about retirement yeah it's over you're just so old you're so old
1:08.9	you're so old you can't do anything you need to go the bar and find you somebody because it's over. You're just so old. You're so old. You can't do anything.
1:11.6	You need to go to the bar and find you somebody because it's over for you.
1:18.8	Of course not. Of course not. Now, obviously it would have been better if you started when you were 27 but that's
1:27.8	in the rearview mirror so let's just deal with what we got what do you make a year i make 50 000
1:33.2	a year okay so if you say 15% of that that's 7500 fully fund a roth IRA tax free growth in a
1:41.4	good growth stock mutual fund and if you do that for the next 10 15 years you're
1:47.9	a pretty sizable chunk of money like probably a million dollars seriously yeah okay so
1:55.8	$7,500 a year into a Roth IRA in good growth stock mutual funds.
2:03.1	Okay.
	...

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