How Do I Know When I Have Enough Money to Retire?

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Title	:	How Do I Know When I Have Enough Money to Retire?
Lasting	:	5.31
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Views	:	687 rb

But what’s important is inflation and what 300k is worth in 30 years
Comment from : Jack Mengel

@1 min 40 seconds approxbrAverage income is 60kbrSave 15 in a mutual fundbrFrom age 30 to 70brYour fund will be worth about 8 millionbrWould love somebody with financial knowledge to explain to me, I'm not very financially literate Tbh, how this can be achieved, any and all responses welcomebrThank you
Comment from : Keep Walking Roadman

17Sept2023br10 ROI !???? NICE FANTASY LAND!???? brSave 15!???? (GAS ALMOST $6 gallon)brWelcome to LA LA LAND
Comment from : tony branson

I have been retired for five years now Although I've been adhering to the 4 rule, things are challenging as I did not anticipated I have another $460K to put into st0cks How can I profit from the market's resurgence
Comment from : Emmanuel

100 a month -> 8 million? Can someone explain this Is this merely in 401k/RothIRA savings?
Comment from : Mario Garcia

Please do not take Dave’s advice on withdrawal rates
Comment from : B

dave numbers are partly off here if you averaged a 12 return putting away 9k per year 15 of 60k for 40 years you would have 8+ million $ However he said if he was half wrong so yes half of 8 mill is 4 mill but look at the percentage return 9k per year for 40 years at 6 return is 15 mill same numbes but 10 return 47 mill
Comment from : Mark Carlson

I started stacking to SAVE wealth I've always been the type of person to spend my entire paycheck I hate having money just sit in the bank I am under pressure to grow my reserve of $950k before I turn 60, I would appreciate any advice on potential investments
Comment from : Quinn Conor

what if youre not 30 ?brand you're actually 55
Comment from : Donnie Reynolds

biI just turned 60, was planning to Retire Soon with a FORD? BooM the Economy Crashes into Recession and High Inflation! I guess I will keep working another yr or 2?/i/b
Comment from : Sarah Lazare

Came here listening about Dave talking about retirement Leaving, wondering what a goose and crack eggs was doing in a retirement plan
Comment from : Nicholas Czech

The rich are money minded That is one thing I learnt from the start I have always wanted to build wealth I have set out $167k that I had been saving since 2020, and I want to put it in the stock market so I can grow my wealth Any recommendations?
Comment from : Robert Blane

That dude should go in to radio What a voice
Comment from : Stephen Lyons

And this is why i hate pension Nothing left to pass on it dies when you or at best your spouce dies I can save the money but not in control of it in the pension
Comment from : 666dynomax

I admire the financial independence of people, But you can live better if you work a little more After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early To each their own but to me retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc I don't think I could retire with less than $3m in income generating investments, maybe $2m at the very minimum I plan to work until I'm at least 45
Comment from : Stevens Middlemass

Again and again Dave is telling people to pull 8-10 from their nest egg and still keep the egg This is borderline criminal He knows it won’t work and still he’s saying it
Comment from : ALK

lol just pull off 10 year of year bwahaha fairy tale math
Comment from : QuadTap

This video is a great example of why, while its great to use Dave Ramsey's plan to get out of debt, its better to use a Certified Financial Planner at a Registered Investment Advisory firm once you've saved some money and are on your way to planning for retirement Setting an expectation of having an $8M nest egg on a median income at retirement and spending 10 of your funds annually in retirement is misleading to put it mildly
Comment from : Moto Guy

Where do u invest to draw that much ?
Comment from : Sheila Arp

I regard myself a lucky woman, I retired at 62 with very little saved up due to bad planning & foresight Good stewardship and good luck has grown it to about 750K I told my money guy, “I don’t know if I’m retiring for good, but I’m retiring for now” Haven’t looked back since
Comment from : R Cartlidge

Funny this guy is acting all altruistic about how many “mission trips” you would want to take, while he cheated on his wife This holier than thou irks me
Comment from : Sarah

RETIREMENT QUESTION!!!!! HELP!!!!brbrMy wife has a 401K ROTH Her employer matches her contributions into the ROTH account and on her paystub it say the employer match is PRETAX When do we pay the taxes on the employer match (assuming it has to be after tax for ROTH)?
Comment from : Dont Worry

>When you read articles about financial freedom, you may hear people drone on and on about how they are spending practically nothing so they can retire at a younger age, like 30 Conversely, they may have already achieved financial freedom and are bragging about how frugal they were so they could retire well before the typical retirement age<>
Comment from : Narin Emre

I’m confused about the math He said the average person makes around 60k if you save 15 of that from ages 30-70 that’s 40 years, that would be less than a million
Comment from : K

These projections are nuts People are spending way too much money to need multiple millions in retirement
Comment from : GTRrocker

These people who are loaded write and call in to gloat about all their money
Comment from : jeffro

Homeless people are wasting time begging for money when they could be volunteering in the community or creating businesses insteadbrbrLet’s change that with the Universal Basic Income Or by abolishing moneybrbrLet’s give everyone over the age of 13 a guaranteed minimum income of $1,500ish USD/month!brBicycles
Comment from : DrMattDestruction

A lot of people save too much money for when they retire, that most of it will go to waste
Comment from : Krysdavar

Mutual funds are a joke
Comment from : CryptoVin

There is no way in the world anybody’s gonna have that amount of money saved for retirement Most people live check to check and VERY controlled income which is VERY FIXED!!
Comment from : Bradley VanZile

The person that called in with this question knows they are doing just fine
Comment from : Sally Jones

He has more than enough, but I can't find the answer to the question how much money do you need the day you turn 65? Not based on income How much do I need, not how much I want
Comment from : i6601

Best way to answer to this question is ask yourself what do you want to do right now?brbr and my answer is to make more money i want to make more money i dont know why but thats what i want nowbrmy head says that
Comment from : Illuminati aqi

15 of 60000 is 9k 9k at 10 a year for 40 years won’t give you 8m lol
Comment from : Nay

billys riqbrlibrarys seed money duebrjodi welch brechts poo
Comment from : Jeffrey Richardson

The R IQ tool is an embarrassment, it does nothing but capture personal information to support sales…it mirrors what Dave is all about…getting your money in his pocket
Comment from : B Runner

I have 37 mil to retire at 40feel poor, I think 5-7mil would make me feel better
Comment from : bob jones

I heard you need at least $100 Million USA
Comment from : In a Perfect World

I would be happy to retire with the same monthly income that I currently make By that time, my home and vacation home would both be paid off 😀
Comment from : Miss Linda

Dave seriously overestimates mutual funds and compound interest
Comment from : Tank The Pitbull

Josh Baso, of Amazon, Boy , I will never have enough to retire
Comment from : John D

Depends on how much you spend Some people cant live on 10 k a month Some can live on 1500 K a month
Comment from : John D

Thank you!
Comment from : messyjessie

15 of $60k for 40 years to get $3M? That most be an investment king or queen
Comment from : David Ho

Interesting…so Dave does know how to NOT be rude by interrupting people🤔 good jobbr👍🏽👍🏽
Comment from : S

My mom lives off of SSI
Comment from : underdog ishere

My husband has a hard time enjoying life because he worries to much about if we have enough to live on when he retires We have zero debt All we talk about is ssi, health insurance and investments I'm happy we're going to be okay in retirement but when do we get to enjoy life instead of worrying about life?
Comment from : Susan DeMuth

Honestly, if you do what they say and save 15 of your income into retirement funds you will retire 10 years early, debt free, and live financially stress-free the rest of your days They can't say that in a big public forum like this, but that's what it really means Now, you have to do the rest of the program to protect yourself from LIFE but if you do that, you're golden
Comment from : Brad Coleman

I think the calculator is under by 25-35 Plan to save more, especially if retiring in the next 10 years or so
Comment from : Aaron B

Dave, quit focusing so much on how much u need for retirement and more balanced look at when u should retireI don't like these you gotta have a million bucks to retirenot reasonable or possible
Comment from : Mitchell L

This is the best concept 👏
Comment from : Mary Robby

Giving? To what? Churches? Ppl who don't help themselves? Ya no
Comment from : Jennifer

based on my current yearly expenses I would need at a minimum $1 million to retire comfortably my parents retired in their early 60's with only 700k and travelled the world, went on cruises, and built a big house in florida now they only have 100k left and aren't even 70 yet
Comment from : Druncle Cookie

I have no plans on leaving any money
Comment from : Jane Snyder

if you are asking you don't have enough regardless of how much
Comment from : sammy bully

Ugh Such a disappointment Let's get back to the millionaire theme shows brLet's move past the adulterous scandal
Comment from : ttu888didfitRhonda Vigil

David Ramsey is beyond belief sometimes He must be factoring in salary increases with inflation, but the "good mutual fund" he seems to think is easy to find would need to return 12 CAGR That's real good, and probably not happening
Comment from : James Ferguson

Miss Chris wish he still worked with Ramsey!
Comment from : JanayiaLove

Didn’t really answer the question but instead advertised himself 🤦🏽‍♂️
Comment from : Robby P

Finally someone who sounds normal
Comment from : B - Big B

So 9,000 at a 12 return over 40 years is over a million? I know this must right but please explain the math I keep getting 403,200
Comment from : OliviaOnAir Winsteard

Retire sooner than later, ready or not, there is such a thing as quality of life - you only live once - this isn't a dress rehearsal
Comment from : Rocking Red Poppy

All younger people saying retirement what's that is that something that we used to do like buying houses and have familys
Comment from : Craig Buckley

My nest egg is about $1M at age 40s (incl DBPP) My home $400K I plan to retire at age 58 And don't listen to whatever these guys said They are live broadcast entertainers making good money out of suckers like you
Comment from : Dave Foster

Dave always talk about giving money … like ppl suppose to sacrifice to give to ppl who didn’t 🙄… guess that’s the Bible speaking…
Comment from : Buggu

Reinvest dividends to buy more shares to get higher returns from ETF’s and index funds
Comment from : Bohemian chic

What mutual fund gets 10?
Comment from : The Road to Freedom

Chris Hogans voice is made for radio
Comment from : Michael Ferrarini

Doge to the moon!
Comment from : Captain the Dog

Seriously…he calls that a tool? It’s just clickbait to get your email address It asks four questions How much do you make? How many years until you wish to retire? How much do you think you need in retirement? How much have you saved? It doesn’t ask about about pensions or social security It said I need to save $125 million for my retirement next year
Comment from : jdbucha

If the majority of people pull 10 out of their retirement nest egg each year they will quickly run out of money
Comment from : D D

123 average for 40 years saving 9k per year would get you 79 millionDave you are being unrealistic on your percentages
Comment from : Greg Wallace

Lets say i save up around 15million dollars by investing in a 401k, roth ira, or etc How do you turn that into a goose laying "golden eggs"? Im very new to this, any help is greaty appreaciated
Comment from : OG Fat Daddy

left dude has an amazing radio voice
Comment from : kage

Tell me how to make 10 off the money😍
Comment from : Jennifer K

10 sure
Comment from : Jonathan Jacob

I'm retired and have $22M in my traditional IRA It pays $50K a year It's mostly in well paying blue chip investments, but it's not enough to live on Where are you guys getting these numbers for better returns?
Comment from : tsmgguy

Get Rid of the stupidity and the brokenness in one family tree Respect
Comment from : ecfearfactory86

Suzie Orman says we need $5 to $10 million in order to safely retire
Comment from : Harry Chu

3:34 that's a very big part of the problem with America right now
Comment from : K R

I miss Chris Hogan's episodes!
Comment from : DB Douglas

I'm in a decent Roth IRA for just under 10 years and less than 100K to show for my troubles For the love of God, I don't know where he gets his returns figures
Comment from : highvoltage1971 Merrick