How Should I Be Investing in My Late 50's?

How Should I Be Investing in My Late 50's?

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[cheryl]

Thank you for teaching that having an emergency fund turns an emergency into an inconvenience. I just had to book an urgent flight to be with my dying grandmother (made it 17hrs before she passed). Knowing I can pay for that and some other funeral expenses without worrying where I’m going to find the money has saved my sanity.

[allgodify]

Our family tree is starting to change! Started my retirement already. My family never passed baby step 2 until now. God ways of handling definitely works.

[skibum]

Listen to this younger folks, you don't want to be almost 60 without having a ton of money in a retirement account.

[DaddyDebt]

The best time to plant a tree was 20 years ago, the second best time is today

[SK-gidj]

It is absolutely never too late. Never. 5-15 years compounding still gives good returns.

[chewbacca]

my highest impact as an investor after few losses was when i started looking more critically on how professionals manage risk over generations, not seeking the instant gratification of a temporary dopamine kick but I have to attribute this only to guidance of a expert licensed fund manager, 'Lisa Jill Grenell' who diversifies my portfolios without beating myself up about how to beat the market.

[supremevision]

You are an inspiration...I don’t wanna be in this position at 50...

[NaNa-ltpo]

I'm 60 and i do, but you're a multi millionaire dave who can take a 2008 like crash. How much cash outside of 401k matters as well

[-old-Forthischet]

If I could have looked into the future when I was younger (I'm 71) I would've sunk more money into stocks. My three remaining stocks have really grown and I keep kicking myself for not investing more. Yes, hindsight rules!

When I retired, my investment advisor wanted me to add my stocks into my retirement portfolio but I kept it as a source of liquid money. Someday in the near future, I'm going to do something crazy with that money with the time I have left on this miserable planet.

[ameliapenelope]

I read about a man in his 50s that started investing in stocks and real estate, then retired in 2years with over $6million, that right there is my utmost goal and I'd really appreciate clues and tips on how to reach this goal within 5years.

[bkidwill]

I’m 24 with ZERO debt, married with 3 biological kids, one adopted from foster, house paid in full, car and truck paid in full . Everything . All our bills and needs are 1000$ a months . All together . We homestead, and rarely eat out . I invested in crypto here and there . I’m college educated but stay home to homeschool . And my husband make 40 k a year . And have already started his 401k with 8% contribution . What should I do with saving and tax returns ? Wanting to maximize our money but not knowing what to do NOW .

[carloswithac]

I've never been this early to a Ramsey video!

[nic_ccc]

Never too late to invest. But I guess the question becomes when they want to retire (let’s say about 5-6 yrs from now at least), and if keeping their money in a bank would be better than investing. Probably not, but of course the risk is there that they might need the money during a downturn. If it was me, I’d invest, but seeing as they’ve never invested before I understand their apprehension.

[adamnelson]

I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability.

[letsbecomebillionaires-bks]

If you are 50 and you haven't invested, yet, the FIRST THING YOU DO when you realized your mistake is tell your children so they don't fu** it up too.

[christofl]

Dave is a multi millionaire so his investing advice to that woman is stupid. He can lose huge amounts of cash in risky investments and it won't effect his life one bit. The caller and her husband do not have that luxury.

The caller should:
1) pay off her house as soon as possible. This one thing is the most important investment to have at retirement.

2) have a gold star health insurance plan.

3) get a gold star long term care insurance plan for any disabilities they could incur in old age.

4) of course pay off credit cards and any other debts.

5) maybe invest a little in gold, foreign currencies and cryptocurrencies.

6) anything left can go into stocks, bonds and mutual funds.

[IA-pyby]

Invest in the life after this one you won't regret not a single bit.

[jasonlopez]

Happy Thanksgiving Dave Ramsey 🦃
I appreciate the holiday videos 🙂

[jameslastname]

Not sure if I agree/understand the comment near the end. If you study a successful marriage/job/etc. then mimicking their practices and improving on them will be 3% better.
How would going perpendicular opposite result in 40% better? Sounds super high risk of doing terrible

[jmc]

Caller videos are great for teaching and some just fun. After watching a lot of them Ive noticed a few subjects/questions come up a lot (incl this one) and wondered if callers did a bit of pre research (even 15-30min) on the plan/steps incl website/s, videos, books etc if it would help them clarify their question and have time for added help. It’s easy and takes only minutes to search YT and online, ie Dave Ramsey and (or on) retirement, investing after age 50, selling cars, buying a house, changing careers, having a baby, moving etc to find all related written articles and or videos on DR/team or google question you’d ask and Dave Ramsey (or Dr Deloney, Anthony ONeal etc). Googling will show all written info and videos at same time. Some calls/callers maybe too emotional to do this but for ones who can it may be helpful.