Dave Ramsey says "Retirement is not an age; it's a financial number" - here's how to find yours

Dave Ramsey emphasizes that retirement should be determined by financial readiness rather than age. He advocates for evaluating your investment balance to ensure you can sustain your lifestyle in retirement instead of merely targeting a specific age. Calculating your necessary financial resources involves understanding your budget needs and ensuring that your investments can meet those needs. For example, if you plan to spend $60,000 annually and expect $25,000 from Social Security, you must have sufficient additional funds to cover the gap.

Retirement readiness should not hinge on age but rather on having enough investments to support your lifestyle, according to finance expert Dave Ramsey.

Calculating your financial number involves budgeting for retirement expenses to ensure your investments can cover them adequately, making it crucial for those nearing retirement.

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