‘I don’t have a lot’ Dave Ramsey explains how pensioner with £30k can get by in retirement

The money expert said: “I have two goals for you.

“Get the house paid off and put $100,000 (£85,000) in mutual funds.

“It’s still not going to be enough but you will be 71 and you will have almost $200,000 (around £170,000) in there with the growth of the $35,000 (around £30,000) if it’s in there in mutual funds.

“You’d be approaching $200,000 (around £170,000) in a paid for $600,000 (around £507,000) house.