Dream with me for a moment, Joe and Suzy Average are a twenty-seven year old couple making the average American income of $50,233 per year and they are on Baby Step Four. They invest 15 percent of their income into four types of growth stock mutual funds with five to ten year track records. If Joe and Suzy Average invest $7,500 per year or $625 per month with no match into Roth IRAs from age thirty to age seventy, with an average growth of 12 percent they will have $7,588,545 tax-FREE! That is almost $8 million. What if I’m half wrong? What if you end up with only $4 million? Sure beats the 97 out of 100 sixty-five year olds who can’t write a check for $600. There is no excuse to retire without financial dignity in the United States today.

A Total Money Makeover is not a magic show. You start where you are and you do the steps. These steps work if you are twenty-seven or fifty-seven – they don’t change.

Dave Ramsey is America’s trusted voice on money and business. More than 1.5 million families have attended Financial Peace University in more than 30,000 churches nationwide. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 5 million listeners each week on more than 500 radio stations. Follow Ramsey on Twitter and on the web at daveramsey.com.

Publication date: October 16, 2013