Welcome back a staggering number of Americans still working well
into their golden years.
As of December, nearly 40 million people 55 and older
were still part of the workforce, with the participation rate
of more than 38% for that demographic.
Ramsey Solutions finding 48% of Americans have less than $10,000
save to retirement.
However, 50% are not investing any of their income at
all.
Joining me now is Ramsey Solutions financial expert, George Camel.
George, good to see you.
Thanks so much for being here.
Are so many Americans who are older than the age
of retirement, Are they still working because they need to
work for the money or because they want to work?
The majority that we get on the Ramsey show, Maria,
they need to work.
We just took a call yesterday, couple in their late
60s, they had $100,000 to their name and they're going,
hey, can we retire?
When can we retire?
And here's the truth, retirement is not an age, it's
a financial number.
And here's the mind blowing financial advice.
If you invest nothing, you'll have nothing.
So don't let fear keep you on the sidelines.
Don't let financial literacy hold you back.
You've got to learn the stuff and get to it.
Well, what's the practical way to invest when you don't
have a lot of money coming in?
Well, invest what you can because you need compound growth
working for you.
And we saw in the US stock market, it was
up 23% last year.
But too many people were on the sidelines.
They had their money in CD's making, you know, 345
percent.
That's not enough.
That's a great point.
It is not enough.
George, Good to see you.
Thank you so much, George Camel.
We'll be right back.