Dave Ramsey boldly states that those under 40 who haven't achieved millionaire status by retirement have only themselves to blame. He emphasizes that consistent contributions to retirement accounts, like 401(k)s, are crucial, as evidenced by a surge in retirement millionaires according to a Fidelity survey. As of June, around 497,000 individuals reached millionaire status via retirement savings, stressing the importance of starting early and maintaining consistent contributions. For those behind schedule, putting aside at least 15% of income after clearing debts and establishing an emergency fund is essential.
You made a freaking fortune in your working lifetime. You work your butt off your whole life, and you have nothing to show for it.
As of June, there were roughly 497,000 so-called retirement-created millionaires in the U.S., according to the wealth management firm.
The key to stashing away such sums? Start early and contribute to your retirement plan consistently over many years.
If you're currently under 40 and don't retire a millionaire, it's your own fault, says financial expert Dave Ramsey.
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