Dave Ramsey suggests how a man with £16,000 saved can retire at 70 | Personal finance | Finance

Mr Ramsey explained that if he could save $50,000 (around £41,000) over five years, Jeff would have $250,000 (around £206,000) in his retirement account when he quits his job.

As Jeff is looking to start his own business, he will also have to save for that.

Mr Ramsey said: “You have two things here that you need to budget for and you really need to lean into them.”

He explained the value of compound interest.

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