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Hide more more Americans are putting off their retirement got a new survey that -- 22% of middle income earners between the age of 25 and seventy.
-- to work well into their seventies that's 14%.
Up from up 14% from just a year ago so many of our viewers want to know.
What can we do but -- personal finance guy Dave Ramsey the best in the business.
What we can do that is certainly -- concern for people that don't wanna do it for others to do wanna do it they say work is great.
I can't give you some -- -- to get you started.
Absolutely -- let's go from Peter out -- in California he says I'm seventy my wife is 56 who received a combined.
Dollars month and pensions.
We have no debt except for an a mortgage of 82000 dollars.
We have 540000.
In investments should we use one the IRAs to pay off the mortgage.
That don't you love this guy this is a guy who -- save money put himself in a position.
-- golden years are golden he's got a half million bucks in the bank and 120000 dollars a year coming in he set.
Yes pay -- -- lady 5000 dollar mortgage and -- completely free you're set for life he did a great job up.
Taking care of yourself that was great -- wanna know is rape first.
His know what Donald he's still got an 85000 dollar mortgage you seventy years old got 540000 is mutual fund just pay it off beat up more than.
You're ready for the follow question where you different to you did come prepared today.
Hey but my husband and I read look Bob -- -- this from Texas my husband and I.
Retired several years ago we live on social security and our investments as prices for everything go up.
Our investments are going down we are becoming fearful of the future.
Whoever said these -- the golden years were absolutely nuts what can we deal -- worried.
Well -- Peter thinks these are the golden rules because he did -- live different level of preparation and you guys that I don't know how much you have an investment but it sounds to me like you're trying to live off of social insecurity.
Which mathematically as one of the biggest jokes ever come along the retirement pike.
And so listen if you're looking at Social Security -- your way of retiring -- watching us this morning.
-- to get to work saving money so you end up being Peter -- Marcia all right -- let's look at aired from Tennessee.
He says my wife and I -- -- mid twenties in a fortunate enough to be debt free our goal.
Is to be being able to buy a house with cash in about three or four years -- are contributing to retirement just yet.
And have substantial savings in the bank.
Do you think it's okay to save up and buy a home with cash and then start contributing retirement in about five years.
If you're gonna do it that fast if you're gonna take any longer than that that I would go -- and start my retirement program but.
As quickly as you're talking about 34 maximum of five years yeah are in your -- shut everything down and pay cash for a house set you up for serious wealth building.
And then you can make up time of whatever you've lost on your retirement.
But I'm not suggesting doing that for fifteen years you need to get started with retirement as early as you -- the numbers are amazing if you start your twenties how wealthy you can become.
Listen to -- and always listen to the Dave Ramsey show and listen Dave Ramsey was -- with us Dave thanks so much.
Thank you good thanks for me -- having me no problem twice.
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