Is It Too Late To Invest for the Future?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 3 March 2025

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

💵 Sign up for EveryDollar today - Create a free Budget! 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: 💰Need help with your investments? Connect with a SmartVestor Pro: (SmartVestor Investing Professionals ) #PaidEndorsement 📝Get your free copy of Ramsey’s Complete Guide to Investing: (Ramsey's Complete Guide to Investing) 🏦Take a retirement assessment to find out how much you’ll need to retire: (Retire Inspired with the R:IQ Retirement Assessment) 📈See how much your investments could be worth over time with this handy calculator: (Investment Calculator) 🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (Ramsey Investing Tools and Resources) Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership 💸 The Ramsey Show Highlights Learn more about your ad choices. Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:08.0	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.8	Andrea is in Phoenix up next.
0:15.4	What's going on, Andrea?
0:16.7	Hi, and thank you for taking my call.
0:18.7	Absolutely.
0:19.4	My name is Andrea, and I am 60 years old, and I am employed.
0:23.5	I make about, I bring home about $24, $2,864 a month.
0:31.0	I live with my son and his family.
0:34.1	The only outgoing bills I have is my car insurance and I pay for gas and any other
0:39.1	incidentals. I want to know is it possible for me to continue or to own a home and still save for
0:47.6	my retirement. I have $69,000 in a 401k. And I'll tell you a little bit, I was in Ohio and I relocated to Arizona before the
0:56.7	pandemic and since I've been here everything has gotten so inflated so my decision now is to
1:02.1	go back to Ohio but what I'm here in this kind of situation to save and not have to pay
1:07.6	any deals I have some time before I get, go back to Ohio. So ask me
1:13.8	anything. All right. So you told me your stated goal was I want to be able to own a home and
1:19.6	retire one day. Yes. Okay. That's going to take a sizable nest egg and a pretty solid savings
1:27.1	rate. So how much are you able to save right now?
1:29.4	You're saying you've got almost no bills. So out of that 2864, how much is left over?
1:35.4	It'll be $2,154, like $2,154, with minus the car insurance and the gas. but I plan on getting a job in my, where I look
1:47.1	at to work from home, which that will save on the gas. And I do have like $45,000 saved debt.
1:53.1	Okay, that's in a savings account? And no debt whatsoever? Well, no. If I have debt, I just
	...

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