Here's How To Reach $3.6 Million By Age 65, According To Dave Ramsey—'It Really Is That Simple'

Most people dream of financial freedom, but the path to becoming a millionaire often seems complicated. For Dave Ramsey, a well-known personal finance guru, reaching $3.6 million by age 65 is achievable for anyone willing to follow a consistent plan. In a recent tweet, Ramsey outlined a straightforward investment strategy that—while simple—requires discipline and patience.

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According to Ramsey, if you invest 15% of the average U.S. household income ($77,000) into growth-stock mutual funds, you can reach $3.6 million by the time you hit retirement age by investing at a 10% annual return rate, starting at age 30 and continuing until you're 65. As Ramsey puts it, "It really is that simple—but it's not easy. If it was easy, everyone would be millionaires."

The Power of Consistent Investing

Ramsey’s advice is most effective when combined with a consistent investment strategy. Saving 15% of your income each year may seem like a lot, especially with bills and other commitments but Ramsey's approach focuses on the long game—gradual accumulation that pays off big time by the time you retire. Compound interest is the real magic here: the earlier you start, the more your money has time to grow.

Making small, regular contributions to growth-stock mutual funds can lead to big returns over time. This idea isn't new, but people often forget it because they think they need a high income to build wealth. What you really need is a plan to keep investing regularly, not a huge paycheck.

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Simple, But Not Easy

As Ramsey notes, while the strategy itself is simple, it's not necessarily easy. Most people struggle to commit to a plan that spans decades. As life gets in the way—emergencies, lifestyle upgrades, unexpected expenses, sticking to the 15% rule requires financial discipline, a budget, and oftentimes some really tough choices.

But according to Ramsey, those who are willing to make these sacrifices will be the ones who retire with millions in their accounts, while others rely on social security and hope for the best.

One important thing to keep in mind is how easy it is for money to slip away without you noticing. Think of your checking account like a sieve—if you don't pay attention, money leaks out just like water. Small, unnecessary expenses add up over time and can stop you from reaching your financial goals. 

By making a budget and cutting out unnecessary spending, you can find extra money each month to invest. The key is to be intentional about where it goes, instead of letting it slip away without a plan.

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