On the Ramsey Show – Highlights YouTube channel, the American finance personality answered a listener’s question about his mother’s financial situation.Alan was stressed as his mother did not know what to do next.
He said: “My mum has nothing saved for retirement, I wanted to ask on your behalf what she could do.”
Alan explained to the finance guru that his mother has very little in her retirement fund.
She has $18,000 (around £15,000) in her work place pension and $60,000 (around £52,000) in cash.
Her home is worth $500,000 (around £434,000), however she still owes around $205,000 (around £180,000) on it.
Alan was stressed as his mother had gotten to a point where she does not know what to do next.
Being 68 years old, Alan’s mum had to take a less demanding role …