{"id":441570,"date":"2025-12-12T03:59:15","date_gmt":"2025-12-12T03:59:15","guid":{"rendered":"https:\/\/www.europesays.com\/us\/441570\/"},"modified":"2025-12-12T03:59:15","modified_gmt":"2025-12-12T03:59:15","slug":"despite-earning-175k-and-saving-3-5m-a-62-year-old-attorney-tells-dave-ramsey-hes-afraid-to-retire","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/441570\/","title":{"rendered":"Despite Earning $175K And Saving $3.5M, A 62-Year-Old Attorney Tells Dave Ramsey He’s Afraid To Retire"},"content":{"rendered":"\n

A 62-year-old attorney named Steve from Raleigh, North Carolina, called into \u201cThe Ramsey Show<\/a>\u201d recently with a situation most people would envy. Despite having no debt, a paid-off home and $3.5 million in retirement savings, Steve told personal finance experts Dave Ramsey<\/strong> and Rachel Cruze<\/strong> he was still struggling to feel comfortable retiring.<\/p>\n<\/p>\n

\u201cWhat I really want is somebody to tell me that I can stop,\u201d Steve said. While he had been thinking about retirement, he was hung up on two fears: losing income and the rising cost of health insurance.<\/p>\n

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Steve explained he earns $175,000 a year and has no pension, but a large nest egg<\/a> spread across 401(k)s and IRAs. Ramsey broke the math down quickly: if invested in good growth stock mutual funds averaging 10%, Steve could generate $350,000 a year without touching the principal.<\/p>\n

\u201c[That\u2019s] twice what you make now,\u201d Ramsey said. Even if market returns dip<\/a>, he told Steve he could draw $200,000 per year and still let the rest grow, calling it a \u201cno-brainer\u201d and even a \u201c2x of a no-brainer.\u201d<\/p>\n

Ramsey also praised his discipline and success. \u201cI assume you started with nothing and became a multimillionaire,\u201d Ramsey said. \u201cI\u2019m very proud of you. That\u2019s amazing. The American dream is not dead<\/a>.\u201d<\/p>\n

Trending: Have $100k+ to invest? Charlie Munger says that’s the toughest milestone \u2014 don’t stall now. Get matched with a fiduciary advisor and keep building<\/strong><\/a><\/strong><\/p>\n

Steve confirmed that he had built his wealth over time. Still, he struggled with the emotional side of the decision. \u201cRecent life events have made me realize that what I should be doing\u2026 is spending time with people that I love,\u201d he said. \u201cPushing paper around is not a good use of my time anymore.\u201d<\/p>\n

When Ramsey asked what Steve wanted to do in retirement, the attorney shared that he wanted to travel and make the most of the time he has left. Ramsey warned him to avoid aimlessness. \u201cNetflix doesn\u2019t cut it,\u201d he said. He encouraged Steve to find a meaningful way to spend his time, even suggesting using his legal background to help nonprofits or ministries.<\/p>\n

Cruze added that those wake-up moments are important to pay attention to. \u201cWhatever that thing was that caused this kind of change of heart\u2026 listen to that,\u201d she said.<\/p>\n

In the end, Ramsey gave Steve a green light: \u201cYou\u2019re in excellent financial condition. You\u2019ve done a wonderful job and you\u2019re able to retire.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"A 62-year-old attorney named Steve from Raleigh, North Carolina, called into \u201cThe Ramsey Show\u201d recently with a situation…\n","protected":false},"author":3,"featured_media":441571,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,7780,519,255,2933,696,22161,67,132,68],"class_list":{"0":"post-441570","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dave-ramsey","10":"tag-north-carolina","11":"tag-personal-finance","12":"tag-raleigh","13":"tag-retirement-savings","14":"tag-the-ramsey-show","15":"tag-united-states","16":"tag-unitedstates","17":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115704598582604503","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/441570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=441570"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/441570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/441571"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=441570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=441570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=441570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}