Saving for retirement can feel like a game of catch-up — and for a lot of Americans, no matter how responsible they've been, it can seem like the finish line keeps moving. Even living debt-free doesn't guarantee you'll wake up at 65 with a pile of cash.
That was exactly the situation for a 66-year-old pastor from Kansas City who called "The Ramsey Show" looking for advice.
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"My wife and I pastor a small church," he explained. "It's not a career choice — it's a calling." After decades of modest pay, sometimes even skipping paychecks, he and his wife now bring in around $75,000 a year, helped along by Social Security. They're debt-free except for their home — but their retirement savings sit at just around $35,000.
The couple owes about $85,000 on a home now worth roughly $600,000. On paper, it sounds solid. But as the pastor pointed out, paper wealth doesn't necessarily pay the bills in retirement.
Ramsey gave him a clear, practical plan:
"You've got two goals in five years — get the house paid off and put $100,000 into mutual funds."
He mapped it out: by throwing an extra $1,800 a month toward their mortgage, they could eliminate the remaining debt in about two and a half years. After that, if they redirected that $1,800 a month into mutual funds, they'd stack up around $100,000 over the next five years. Combined with the $35,000 they already have — plus typical investment growth — Ramsey estimated they'd be "approaching $200,000" by the time the pastor turns 71.
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"And between that and your paid-off $600,000 house, you're almost a millionaire at that point," Ramsey said.
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The pastor paused, then admitted, "I never thought about it like that."
Of course, whether or not someone feels like a millionaire depends on whether they're willing to cash in the house. Ramsey didn't hammer that point home directly, but it's worth noting: while a paid-off home is incredible security, you can't exactly peel a shingle off the roof and buy groceries.
Selling the house would turn the wealth on paper into something they could actually use — and that's a move Ramsey often suggests for callers in tight spots. Downsizing has practically become one of his signature punchlines, right up there with telling people to sell the car or start living like no one else.
"At least we know you could always sell the house and move to a $400,000 house," Ramsey said, framing it as a solid fallback plan, not a must-do.
Although the next five years would take discipline and hustle, the couple isn't doomed. By staying aggressive with debt payoff, investing steadily, and staying flexible about their housing situation, they still have a real shot at a secure retirement — with a lot more peace and a lot less "wolf" at the door.
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