# 38 With Nothing Saved for Retirement?

> 38-year-old caller has $62,000 debt and zero retirement savings but Ramsey Show says starting now still works.
- Title: 38 With Nothing Saved for Retirement? · 24/7 Wall St.
- Summary: 38-year-old caller has $62,000 debt and zero retirement savings but Ramsey Show says starting now still works. A 38-year-old with $62,000 debt and no…
- Keywords: ramsey show, retirement savings, personal finance, debt, compound interest, 401k, retirement plan, Nothing, Saved, Retirement, 24/7 Wall St.
- Source: 24/7 Wall St. — https://247wallst.com/personal-finance/2026/10/21/38-with-nothing-saved-for-retirement-the-ramsey-show-says-its-not-too-late
- Author: Chris Lange
- Published: 2026-10-21T22:00:43+00:00
- Read time: 1 min
- Topics: ramsey show, retirement savings, personal finance, debt, compound interest, 401k, retirement plan
## Caller's Financial Situation
A 38-year-old caller has $62,000 in debt including a $38,700 car and zero retirement savings.
## Ramsey Show's Math
The host says saving $1,000 monthly for 25 years from 40th birthday to 65th at 11% return builds $1.5 million.
## Realistic Return Assumption
At 7% return, the same $300,000 contributions would build $810,000 instead of the $1.5 million headline figure.
## Two-Year Debt Payoff Plan
The show's plan requires paying off consumer debt within two years before starting retirement savings.
## 2026 401(k) Limits
Workers under 50 can contribute up to $24,500 annually to a 401(k) and $7,500 to an IRA.
## Five Moves to Start
Plan at 7%, treat 11% as upside, set debt payoff deadline, count employer match, and raise contributions with raises.
## Realistic Retirement Goal
At 38, the show is right you have time but the safest plan assumes market returns are less than 11% and makes up the difference with savings.
## Key takeaway

A 38-year-old with $62,000 debt and no retirement savings can still build $1.5 million by saving $1,000 monthly for 25 years at 11% return.