Financial expert Dave Ramsey believes that steadily investing in retirement and owning a paid-off home are key to becoming a millionaire. However, saving for retirement and paying off a home are challenging in today’s economy. Mortgage rates have dropped to 5.99%, but the median home price is $433,261 in November 2025.
A study by AARP found that 61% of adults aged 50+ worry about not having enough retirement savings, with 20% having no savings at all. Despite these challenges, Ramsey insists that it’s never too late to start building wealth.
American household debt has risen to $18.59 trillion in the third quarter of 2025. The more debt you have, the harder it is to pay off your home. Refinancing at lower rates could help pay off your mortgage faster, potentially saving thousands over the loan term.
Investing in the housing market through platforms like Arrived or mogul offers passive income opportunities without the stress of being a landlord. Arrived lets you invest in rental properties, while mogul offers blue-chip rental properties nationwide with high returns.
Ramsey suggests investing 15% of your income in tax-advantaged retirement accounts like IRAs to build your retirement fund. Studies show Americans believe they need $1.26 million for retirement, emphasizing the importance of starting early and choosing effective savings vehicles. Financial expert Dave Ramsey recommends using tax-advantaged investment accounts for maximum growth. Thor Metals offers a Gold IRA combining tax benefits with the stability of gold. They also provide a no-fee buyback program and up to $20,000 worth of precious metals with a qualifying purchase.
For retirement planning, Advisor.com matches you with vetted financial advisors based on your unique goals. Answer a few questions about your financial situation to get connected with qualified experts. Take advantage of free consultations to develop a millionaire retirement strategy with the best advisor for you.
Always rely on vetted sources and credible third-party reporting. For more information, consult the editorial ethics and guidelines provided by Moneywise. Remember that this article is for informational purposes only and does not constitute financial advice. 1. President Biden signs $1.9 trillion COVID-19 relief bill into law, providing direct payments to Americans, extended unemployment benefits, and funding for vaccine distribution. The bill aims to stimulate the economy and help struggling individuals and businesses during the pandemic.
2. CDC reports that more than 101 million COVID-19 vaccine doses have been administered in the United States. This milestone comes as the country continues to ramp up vaccination efforts in an attempt to curb the spread of the virus and achieve herd immunity.
3. Texas Governor Greg Abbott announces plans to lift statewide mask mandate and allow businesses to operate at full capacity, despite warnings from health officials. The decision has sparked debate over the risks of easing restrictions too soon and the potential impact on public health.
Read more at Yahoo Finance: Dave Ramsey says most American millionaires focus on these 2 things