We Have Nothing Saved For Retirement

Summary

The Ramsey Show Highlights – "We Have Nothing Saved For Retirement"

Date: February 3, 2026
Host: Ramsey Network Team
Guests: Amanda (caller), Financial Advisor (Rachel Cruze), Life Coach (Dr. John Delony)

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Episode Overview

This episode centers around Amanda and her husband, a couple in their early-to-late 40s who find themselves with little to no retirement savings after unexpectedly having a baby later in life. The Ramsey Network hosts offer practical, step-by-step advice on catching up with retirement planning, reallocating priorities, and emotionally embracing a new chapter in life—all while navigating the economic pressures of parenthood. The tone is compassionate, optimistic, and solution-oriented.

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Key Discussion Points & Insights

1. Amanda's Situation: New Parents With Little Saved ([00:11]–[01:14])

• Amanda, 42, and husband, 48, became first-time parents after 17 years of marriage, having previously decided against children and not prioritizing savings.
• They have no consumer debt except for a mortgage, $30,000 in savings, and dual income history but little retirement planning.
• Amanda shares:

  “I feel like I am at ground zero and I have no idea what to prioritize and where to start to give us a fighting chance at not only retirement but just, you know, solid financial stability while raising this baby in this crazy expensive world.” ([00:41])

2. Income, Expenses, and Current Assets ([01:17]–[01:49])

• Amanda is now a stay-at-home mom; her husband earns $90,000/year.
• They owe $130,000 on their home, with about $300,000 in equity.
• No consumer debt; $30,000 in emergency savings.
• Financial Advisor affirms their emergency fund and zero consumer debt as positive starting points.

3. Retirement Catch-Up: Numbers and Scenarios ([01:49]–[04:05])

• Rachel Cruze runs retirement projections using an investment calculator:
  • Saving $1,000/month at 10% return, starting at age 48 until 67, yields ~$676,000.
  • Doubling to $2,000/month grows to ~$1.3 million.
• Rachel emphasizes starting now and being a bit aggressive:

  “If you guys start now, I think you will end up being fine... There’s still hope. It’s not like you guys are doomed by any means.” ([03:17])

• Advises against selling the house for retirement funds:

  “You’re just robbing Peter to pay Paul.” – Life Coach ([04:18])

4. Action Plan: Immediate Steps ([04:10]–[04:43])

• Map out the plan with a Ramsey SmartVestor Pro (retirement planning professional).
• Open a Roth IRA for Amanda’s husband and a Spousal Roth IRA.
• Check for a 401(k) and available company match.
• Start systematic, monthly investment contributions, focusing on 15% of income.

5. Embracing a New Chapter: Letting Go of Regret ([05:16]–[06:58])

• Dr. John Delony offers crucial emotional guidance:

  “The couples that I see do well are the ones that, oh, we have a baby at 42 and 48...who can put a period at the end of that old life and not try to reclaim what was, but to rebuild something totally new... The ones that are trying to live this life but keep...dragging it behind them, man, it just becomes such a weight.” ([05:41])

• Rachel supports the notion of forward-focused re-creation:

  “If you’re carrying what you wanted or what you thought would be, then your creativity...just stops there. It doesn’t allow you to...creatively change up what we want.” ([06:37])

6. Emotional Reality: Adjusting to the New Budget ([07:12]–[07:38])

• Investing $2,000/month will feel like a loss initially, compared to freely spending in the past.

  “They’re going to feel broke because 2000 bucks a month that they used to just blow on whatever, is going to go into an account for future them... Feel that feeling. And then just go do the next right thing.” – Life Coach ([07:20])

• Rachel notes that compound growth will soon outpace the principal, underscoring the power of starting now—even if late.

7. Final Encouragement: Start Now, Focus on Growth ([07:38]–[08:26])

• Success is possible even starting late—time and compound interest are allies.
• Opportunities may emerge, such as discovering an employer’s generous 401(k) match.
• Rachel wraps with optimism:

  “It’s all about creating this new life and this new future and these new goals, which is what Amanda and her husband are doing. So we applaud you guys. Amanda, we are cheering you on.” ([08:26])

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Notable Quotes & Memorable Moments

• “There’s still hope. It’s not like you guys are doomed by any means.” – Rachel Cruze ([03:17])
• “You’re just robbing Peter to pay Paul.” – Dr. John Delony ([04:18])
• “The couples that I see do well are the ones that...can put a period at the end of that old life and...rebuild something totally new.” – Dr. John Delony ([05:41])
• “Feel that feeling. And then just go do the next right thing.” – Dr. John Delony ([07:34])
• “The growth starts to outpace the principal so quickly when...starting as early as possible—that’s on your side. It really is.” – Rachel Cruze ([08:17])

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Timestamps for Important Segments

• Amanda shares her story: [00:11]–[01:14]
• Review of finances/assets: [01:17]–[01:49]
• Retirement math & projections: [01:49]–[04:05]
• Should they sell the house? [04:10]–[04:18]
• Action steps—IRAs, 401k: [04:26]–[04:46]
• Emotional adjustment & living forward: [05:16]–[06:58]
• “Feeling broke” and future focus: [07:12]–[07:38]
• Compound interest & next steps: [07:38]–[08:26]

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Conclusion

Amanda and her husband, despite starting retirement savings “late,” have a promising path forward with discipline, professional advice, and a mind shift toward their new family reality. The hosts deliver tough love with hope, urging listeners in a similar boat to begin now, focus forward, manage emotions, and creatively build a meaningful next chapter—financially and personally.

Transcript

[Financial Advisor]

Brought to you by CHM. A budget friendly faith based alternative to health insurance. Chministries.org budget My husband and I have.

[Amanda]

Been married for 17 years. I am 42 and he is 48. And we made peace a long time ago with not having children. So we haven't been the best stewards of our dual income, no kids money over the years.

[Financial Advisor]

Okay.

[Amanda]

We haven't been the worst. We don't carry any debtors other than our mortgage. But we have very little in savings and no retirement. Last August, God surprised us with a baby.

[Financial Advisor]

Oh wow. Congratulations.

[Amanda]

Thank you. Yeah. So we are late in life parents and just kind of caught in the crosshairs hairs here going, oh my gosh, we didn't prepare for this. So in hindsight, you know, I know we should have been planning for retirement for ourselves all along even without a baby. But now with a baby, I feel like I am at ground zero and I have no idea what to prioritize and where to start to give us a fighting chance at not only retirement but just, you know, solid financial stability while raising this baby in this crazy expensive world.

[Financial Advisor]

Totally. Are you guys both working?

[Amanda]

I quit my job in April when I was about halfway through my pregnancy and I am currently stay at home mom.

[Financial Advisor]

Okay. Are you going to go back at all, do you know, or will you wait probably for a bit and be a stay at home mom?

[Amanda]

I will, I will wait for a bit. The intention is to not. I'd like to just remain a stay at home mom.

[Financial Advisor]

But.

[Amanda]

Yeah, yeah, but at least for the first three years. Three to five years.

[Financial Advisor]

No, that's great. Love it. How much does your husband make?

[Amanda]

He makes 90,000 a year.

[Financial Advisor]

90,000, okay. Do you guys have any consumer debt?

[Amanda]

No.

[Financial Advisor]

No. Okay. Any savings? Just cash savings.

[Amanda]

I've, I've got about $30,000 in bank.

[Financial Advisor]

Okay, that's great. Good emergency fund. Okay, so what's wild is. And I'm just going to run some rough numbers here we investment calculator on ramseysolutions.com so check it out because that's just always like a, it's kind of a fun thing just to piddle with and look. But let's say because we always say to save around 15% of your income. So I'm, I just threw in a thousand bucks a month. Say you invent, you guys invested a thousand bucks a month and you guys have nothing right now. And we'll say your husband's 48. I'm going to use his numbers since he's the one working um, and then let's say he retires at 67 at a 10% rate of return, that's about $676,000. So that's not as much as I would probably want. If you missed health plan open enrollment, don't panic. Christian Healthcare Ministries offers a budget friendly alternative to health insurance and you can join at any time. With chm, there are no network restrictions and members say they often save hundreds of dollars a month compared to traditional insurance.

[Life Coach]

So.

[Financial Advisor]

So make a change that fits your budget, your values and your timing. Check out chministries.org budget to learn more. So that's not as much as I would probably want. So what if we just. Again, I'm just messing around with this. Let's just say we. You doubled it, then that would be 1.3 million. If you guys save 2 grand a month.

[Amanda]

2 grand a month.

[Financial Advisor]

Because the goal, because the reality is too, his income's going to go up right throughout his 50s he'll be making more. Um, so I think you guys, if you start now, I think you will end up being fine. I mean, do you think after all is said and done, I mean if you, if you guys had 1.3 million at. When he's 67 in order to retire, for instance, and you guys, you know, if it was a 10% rate of return, you know, you'd be making 130,000, but you wouldn't want to take all of that. So let's say you took 70,000 of that to live off of at retirement. If everything was paid off, know that could probably be a possibility. Right. So all I say, there's still hope. It's not like you guys are doomed by any means. But yeah, I, I would start right. And, and maybe be a little bit aggressive towards it. How much you guys owe in your house?

[Amanda]

We owe 130 and there's about 300,000 in equity in it. So.

[Financial Advisor]

Okay, great. No, that's awesome.

[Amanda]

You know, the other ditch effort would be do we sell the house and take that, you know, chunk of money and start kind of moving?

[Financial Advisor]

No, I wouldn't.

[Life Coach]

You're just robbing Peter to pay Paul.

[Financial Advisor]

Yeah, y' all are fine. You're good.

[Amanda]

Yeah. And, and we have our, our, it's 3.85 so it'd be silly to.

[Financial Advisor]

Yeah, no, I think you guys are good.

[Life Coach]

I would pay that house off.

[Financial Advisor]

I would sit down with a smartvestor pro. Amanda, you can go to Ramsey Solutions.com and find one in your area. But I would map out to say okay, let's open up. He needs to have a Roth IRA. You can do a spousal Roth IRA. Does he have. Does his company have a 401K?

[Amanda]

I think they do.

[Financial Advisor]

Okay, well, I would ask.

[Amanda]

I'm pretty sure they do.

[Financial Advisor]

Yeah. And see if they do a match. Yeah. Because there's definitely. There's definitely a path for you guys to have retirement a hundred percent. But again, it will be you guys. Yeah. Jumping on the train and, you know, moving forward with it. But I would sit down with someone and look over your entire financial picture because you're in a great spot. Amanda, Me, honestly, you guys have no debt. You have $30,000 in savings, and then you guys are going to just start putting some money away monthly toward this retirement and with compound interest and all of it. It's great. It's. That's best time to start is now.

[Life Coach]

So, Rachel, one of the things that I hear all the time that haunts couples in the situation is the phrase I just want to get back to. Right. Like, remember when I should have. Back in the day, we should have been saving money. I just want to get back to. We could just go out to eat whenever we wanted and we could. The couples that I see do well are the ones that, oh, we have a baby at 42 and 48. Right.

[Financial Advisor]

Yeah.

[Life Coach]

Who can put a period at the end of that old life and not try to reclaim what was, but to rebuild something totally new. And it's saying, we had our fun, we spent it, we went on every vacation. That was a. That was awesome. And now inside this new world we live in, with a kid with, oh, gosh, we need retirement. This kid might want to go to college. All those things. We're gonna have to create a new kind of awesome inside this new world. And the couples that live in that reality, what they come up with to. To co create in their life is amazing. It's awesome. The ones that are trying to live this life but keep their looking back at the old them, dragging it behind them, man, it just becomes such a weight. And that's a recipe for people who go off and make decisions that they would never make, Borrowing, cheating, all these things because they're carrying around this past instead of just saying, dude, all right, this is our new world and we're going to go fully into it. Right.

[Financial Advisor]

That is so interesting, because I would think if you're carrying what, what you wanted or what you thought would be, then you kind of like your, your creativity, your brain move, it all kind of just stops There. It doesn't allow you to say, okay, if I have this whole forward life, what are we going to do differently? What. What can we do creatively to change up what we want? If we want to get.

[Life Coach]

We're going to become a hiking couple. We're gonna. We're gonna.

[Financial Advisor]

We're gonna.

[Life Coach]

You know what? We're gonna learn how to camp. Cause that's what we have money for. And we're gonna be the best campers or like. Or whatever. Right. But we're gonna live in this reality, and we're not going to sit down there thinking about, oh, remember when we're going to fully embrace what we got and we're going to run forward with it?

[Financial Advisor]

So.

[Amanda]

Good.

[Financial Advisor]

Yeah. And in this case, especially looking at retirement and numbers, I think living in the present, realize, okay, this is our new life.

[Life Coach]

They're going to feel broke for a while now.

[Financial Advisor]

What are we. Yeah. How are we going to shift this?

[Life Coach]

They're going to feel broke because 2000 bucks a month that they used to just blow on whatever.

[Financial Advisor]

Yes.

[Life Coach]

Is going to go into an account for future them.

[Financial Advisor]

Right.

[Life Coach]

And they're going to feel like they're failing, feel like they're broke.

[Financial Advisor]

Right.

[Life Coach]

And great. Cool. Feel that feeling. And then just go do the next. Right thing.

[Financial Advisor]

That's right. That's right. And what's wild, you guys, is when you're looking at this kind of stuff, like, wherever you are financially, if you're in your mid-40s, if you're in your 60s and you haven't started, like, the point is to start as soon as possible. Right. That's key because time is on your side. And even with their numbers, what's wild is the contributions they would put in with the example of two grand a month, which is a lot. That's pretty aggressive.

[Life Coach]

It's a lot of money.

[Financial Advisor]

And I was just messing with numbers there. Right. Probably a thousand is more realistic for 15% for them. But. But what's wild is their contributions would be around 456,000, but the growth is almost 900,000. Yeah. Like, the growth starts to outpace the principal so quickly when you realize, okay, if I can just start as early as possible, that that's on your side. It really is.

[Life Coach]

And I can almost guarantee you they're going to go sit down with their 401k, their HR person, and they'll be like, oh, we have an 8% match. And it's like, oh, we didn't know any of that stuff.

[Financial Advisor]

And there's more. Yes. But it's all about creating this new life and this new future and these new goals, which is what Amanda and her husband are doing. So we applaud you guys. Amanda, we are cheering you on. Christian Healthcare ministries can save your family hundreds of dollars on health care every month. Learn more at chministries. Org budget.