My Wife Doesn’t Think We Can Afford To Retire

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 1 January 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Jason's with us in Hartford, Connecticut.
0:24.0	Hey Jason, welcome to the Ramsey Show.
0:26.0	Thanks, Dave, how you doing today?
0:28.0	Better than I deserve.
0:29.0	What's up, man?
0:30.0	Okay.
0:31.0	Yeah, I'm a long time listener and I'm a long time saver. I was hoping to answer a question regarding a retirement disagreement between my wife and I.
0:40.0	I'm 54, she's 51. I'd like to retire next year at 55. I feel like I have enough savings to retire comfortably, maybe possibly do a side gig and she doesn't feel like we do so just asking for
0:55.6	some advice. Well retirement's not a feeling so that's at least some
0:59.7	consolation to you we can look at some facts and data to go,
1:03.0	all right, do you have the finances to retire,
1:05.0	is your nest egg big enough?
1:06.0	How much is your nest egg, dude?
1:08.0	About 2.5, around 2.5 million.
1:11.0	So she needs more than a couple of hundred thousand a year to live on?
1:14.0	Apparently so.
1:17.0	What's your current expenses?
1:19.0	You know, right now we're probably about eight thousand dollars a month
1:24.6	okay so you need a hundred thousand dollars a year to live
1:27.3	and a two and a half million invested in good mutual funds if it made ten percent
	...

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