No Debt Or House Payment Make For An Exciting Retirement

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 4 August 2023

⏱️ 7 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 Smart Vestor.
0:07.2	Connect with an investing pro for free at RamseySolutions.com slash invest.
0:15.2	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building
0:19.7	wealth, and outrageous generosity.
0:22.8	John is up next in Tampa, Florida, John.
0:25.3	How can we help?
0:26.4	Yes, how do you think for taking my call?
0:28.6	I have a question, a kind of a hearing retirement question.
0:33.4	I am 60.
0:35.0	We're planning on retiring at 62.
0:38.5	We've been pretty blessed.
0:40.3	I've had a career in ministry in mental health.
0:42.8	And so right now, we're dead for the accept.
0:46.4	We have a mortgage on our second vacation home.
0:50.1	They have a $200,000 mortgage.
0:52.3	And at this point, I've got enough funds to pay that off, but at that point,
0:58.3	I would need to then stop all my retirement savings for the next two years and to build that back up.
1:07.2	I have a first home that's worth about $5.50 and then the vacation home is worth about $700.
1:15.2	My plan was when I retired to sell the one home and pay the mortgage off,
1:21.1	but with interest rates as high as they are, I'm just trying to see what's the best financial decision
1:26.4	because I'm running this in obstacles about finding work after retirement from my current position.
1:32.5	But they basically want to figure out, what's your idea about this $200,000?
	...

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