The concept of part-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $900k, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now.. do I look at other assets and wait for housing crash, or go ahead with house purchase anyways?

Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

Food for thought: Place a sizable portion of your capital/savings in fixed-income securities like treasury bills, corporate bonds, government securities, debentures and let it grow. It will take you far I promise.

Retirement in The Philippines just keeps looking and sounding so much better. 😊😊😊😊😊😊

what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfolio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making up to $250k in couple weeks during this crash and I'd like to know how.

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

Our society is trying to have people work till the day they die!

Enough to retire? That depends on how long you live. I'm 71 and 1/3 of my classmates are gone, several NEVER drew a nickel SS.

Americans estimate they’ll need more than $1 million to retire comfortably, but most aren’t bullish about meeting that goal. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this?

So, 1600 a month. This can be done. Move to a very cheap area and find someone to split the rent with. No car. Can’t use one anyway, from what I heard. Buy clothes at Salvation Army or such. There are safety nets for folks with this low of income. This is the kind of thinking you have to get into.

1:37 Dave’s look when she mentioned putting $100k into “alternative lending” 😬

$600-700 per month? Can I retire? Sure, in the Philippines.

She doesn't have enough saved to be secure.

Smart vester pro is not even talk with her given her small portfolio or they will charge her more than monthly budget. Atleast thats my experience.

We had enough ! Now retired years early by moving to South America ! No way anyone should have have work so long unless they want to.

Young and broke is a 1,000 easier than being old and broke folks. Remember these wise words folks! Save early and often. Avoid debt! Live within your means. 😊

Thank GOD that my Jr High school taught us about the stock market (in the 1970's) and we did stock market simulations... pre internet and we had to take the business section of the newspaper once a week and graph our fake portfolio. When I graduated college I started investing. I'm now 61 and will be retiring next year with a personal net worth of $3.5 million, and my wife's net worth is considerably more. We are both savers, investors and we each sold businesses and did well. That Jr. High class put the bug into me when one of my stocks shot up 200%.

If I could impart any advice to young people, it would be to live frugally and start saving and investing early. I never had a high salary or worked for a company that offered a 401(k) or pension. I established IRA and non-IRA brokerage accounts in my mid-20s. I always worked full-time-plus, lived frugally, and saved and invested aggressively and consistently. I retired 3 years ago at 63. At 66, I have zero debt and a net worth of $13.5 million, mostly in stocks and mortgage-free residential and commercial rental properties. It can be done, but one must start early and make sacrifices.

Awesome! love your perspective. I currently make 106k/yr. No home or iπvestment and the job is in NY as I work from home. I need to do something quick or else I’m going to be paying thousands to the IRS come tax season. What can I do?

This lady sounds more intelligent than most people. Most definitely can make some money from home even if it's just remote customer service. I know people that do this and love it.

This is a PRIME example for all of us to SAVE & INVEST while you're young in order to retire comfortably and not have to worry about money. Being young and broke is fine because you can bounce back...being old and broke is extremely hard. Happy investing everyone!

The additions are all great in their own way… but we need more Dave.

Hi Ramsey, you are a true blessing to the world. I am your ardent viewer from Ghana, West Africa and i'm here taking notes and life changing lessons. Thank you.

Thanks for the great content Dave and George!! God bless that lady!!!

Love that. There is hope because you are still breathing and hope because you are paying attention

When you're retired and have no debt. It is amazing how your money keeps growing. The last 10 years I must have spent at least A hundred and fifty thosand. Bought two vehicles, expedition and lincoln paid cash, bought another lot and added on a another two-car garage. I lived below my means for years and worked to pay off two homes. Sold one. I still have the same amount of money when I first retired.

anything you can do on a computer, you can do laying down. Reclining workstation was the best thing I've ever done, I work laying down more often than not.

Thx Dave… solid advice that can’t help but make people better off through their own efforts

There is always the roommate option to help for a while. It could be more than just financial assistance. Home upkeep, cooking, ride share, someone to talk to if you want……

You cannot live in the City of Ashville for $700 a month, period. It's the most expensive City in NC

Shoulda kept the house and paid it off instead of renting

I don’t know where she lives in the USA but here in Canada rents start about $1700./month and upwards. One bedroom is around 2000.00.

The most important single thing you can do for financial independence is to OWN your own home. Buy young, pay off early put money into retirement fund.

Given retirement stats, most of Dave's calls should be just like this one.

I would be more worried about medical costs in her situation which didn't enter into the conversation at all - I doubt that it is included within her very limited budget and she did say that she has problems.

Really good advice

I was watching this video and then my neighbor came over and we watched it together... He said that this video changed his life and touched his heart... I then went and rented a projector in a big field and my entire town watched it and it changed their lives too... We all are so grateful... Thank You for this video...

1,000 a month in rent on a fixed retirement income is insane.

For people on fixed income - the best way to fit into budget is to move to an area where renting is cheap. Renting for $600 and having $1000 to live is much better than renting for $1000 and having only $600 left for everything else.

She does not need a smart vestor pro.

rent is going to increase faster than social security, everyone has to work some, and everyone is looking for help right now, so pick you out a gravy job, you have to have a reason to get off the couch

High inflation at the grocery stores and insurance is preventing me putting in as much as I want to for retirement and savings and it’s annoying the heck out of me. Inflation absolutely has to be brought under control in double quick time. Luckily for me I have time but people in their 60s are in trouble.

Dave has no idea what's involved in selling on eBay. That's not an option for her.

I'm afraid I'm going to have to nitpick here. It's all about your debt load in retirement and how much you've paid into social security during your working years for the average person. There's way too many KZfaq videos based on living off interest and dividends and consequently come up with crazy high numbers for the financial resources you need to be able to retire. I know it's not always possible, but the most important goal prior to retirement should be to retire debt-free.

Ouch, $600-700 for everything except rent is pretty brutal, possibly doable, but it would be really hard if a large emergency came up like medical or if her rent starts to outpace her SS income. I think she needs to find some part time work that she can handle as well as find somewhere cheaper than $1000/m for rent, 2/3rds of total income on rent is way too much.

I would love to hear what Dave thinks of JEPI and JEPQ. I am retirement age and put some of my money in these two funds. I get monthly dividends and it helps!

Tell me the $1000 work from home job!!!

It all depends on how long she lives. Princess Diana was set for life and died at 36🧐

$60.00 in the bank, $500.00 in cash in the pocket, 73 yo and living on the aged pension in Australia. Life is good.

Rent prices are just going up. Unless it family that owns her rental I would worry about inflation and rent prices

If you have to ask someone if you have enough to retire, you are not ready.

I would never get a room mate or recommend anyone to do to. That can cost you a lot…..

She needs more income period from somewhere.

Great response, to encourage a disabled person to see if they can find something that they can do, even just a few hours per week to earn some extra income. We need more support and facilitation to help disabled people in this way. I know a quadriplegic woman who has chosen to work in a job helping other disabled people. She is intelligent and speaks very well. She is wheelchair bound and requires carer support. But she blows me away that she got this job. She enjoys it too.

Need a paid off home for retirement....

With that emblem yall need to sponsor a LoL team!

There is no definite number people need for retirement. It all depends on how each person lives. Some people don't want to make sacrifices.

Always great

She needs to find a roommate.

Sounds like she needs a roommate to cover half the bills. That would free up alot.

It's a year ago that this lady called in. I wonder how she's making out now. Did she find a part-time job, etc. We need an update.

The thing is, there are two sides to the equation. Income vs. Expenses. We chose to address the Expenses side of the equation by moving abroad rather than trying to retire in the States. It works.

What about medical expenses?

The Gazelle debit card hoodies 😂

Stir the portfolio, okay, just don't let anyone CHURN the portfolio!

I'll never understand why older people, say over 60, would ever sell their house. I'm 62 and though I'm not crazy about the city in which I live, the house I have is in a great neighborhood to be able to eventually rent out. Rental income, SS, and a part time job, living either overseas in a less expensive country, or even here in the USA in a less expensive area, all contribute to more security in older age. It's also amazing how much my expenses have gone down with age. I traveled the world when young, so don't have a need to do that. NO new fashion at all. Eat at home. Simple pleasures really become enough. She doesn't need to be paying 1K in rent. I would never do that. Move somewhere less expensive.

Why nobody talking about investments in alternate lending… that’s risky for her age

So the income need is $7200 per year. Would be very easy to take the 200,000 and invest it in a basket of stocks that provide a dividend yield of 4 percent for income of $8000 per year. Then take the $800 per year that you have left and buy more shares. Or take a look at CDs that may give you 5 percent.

If you want cheap rent, move to Asia. I play $200 a month near the beach in Taiwan.

"Freedom and Independence cost money.

I'm new here... how do we seek out the smart vestor pros?

You can live in some retirement places, for that amount and it includes food

How do I get one of those hoodies? Hook us up Dave, Don't Bogart the swag

What has she been doing all this time? That’s not enough to retire. I’m 34 and actively working on my investments and still terrified.

Unfortunately this is the situation that our older Americans are facing. She needs to find cheaper rent, find a roommate and get a part-time position. God Bless!

Never liked any smart vestor pros that I've spoken to

Seemed like Dave zoned out a little a couple times on this one. 😂

social security is very low...

My heart hurts for this woman. She sounds like she feels so discouraged.

Answering service job.

Lower the rental cost. Roommates or studio apt? Van life idk. But it's scary

If she lives 10 more years, she doesn't have enough. She needs a part time job.

She needs to put the $200k all in schd and it will pay her about $600-$700 per month pretty consistent however still offer a little growth long term. Plus no federal taxes on the money.

I can see that you are concerned about your retirement planning. It's important to note that the minimum amount you should aim to save for retirement is 10 to 12 times your final annual salary or income before taxes, excluding social security benefits. Additionally, if you are a couple aged 65 years old, you may need roughly $315,000 for out-of-pocket medical expenses during retirement. Ultimately, the decision on how much to save is up to you, as everyone's financial situation is unique.

Find out how much your bills are how much you , and plan for future health care , that simple.

Even if you pay off your mortgage property taxes and HOA would still come to 700-800 per month

What did she do with the house and business money?

Easy 200k invested in global X ETFs...live off the dividends...1800 a month for life

In addition to getting a PT WFH job, what if the caller took her assets and moved them into a higher dividend-yielding ETF such as JEPI or JEPQ that will pay her on a monthly of around 8-10% annually. At $200K, that would give her a little bit more cushion each month.

a few minute call while she's in a "good" place doesn't mean that she can work a part time job if she has a neurological problem that prevents her from being upright very long. Yes, some prone people can do alright on a computer work at home job, While others deal with brain fog for hours if they have to be upright to make lunch.

I see a lot of bots in the comments trying to convince people if they only contact this certain person, they'll make you a lot of money. Big giveaway is people who have no KZfaq content.

If I were in that predicament, I would have to be fitted for a straitjacket!

Why do people leave it so late?

Yep, she has to work. NO DOUBT

Dr John: "are you tired?"

She didn't mention how much she was paying for Medicare.. Is that included in the $6 to 700?

I just can't imagine doing nothing all day (even at 70).. there is money to be scraped online. Something remote from anywhere and clean where you are delivering digital work and have days and even weeks to deliver it with no set work hours would be ideal.