Dave Ramsey suggests how woman, 59, with no pension savings can get by in retirement

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    He said: “I would start there, and then pay off my car today and find out what the early buy out is – probably $11,000-12,000 (around £8,000 – £9,000), and just pay the stupid thing off and own the car.

    “Or sell it and get one that you pay cash for. Spend $10,000-$12,000 (around £7,000 – £9,000) doing that. Whatever it takes, just get out of this car lease, no more payments.”

    With no payments to pay, Mary would be left with around $50,000 (around £36,315.75) or so to start building and investing into mutual funds.

    Speaking to Mary, who lives in the US, he said: “You load up a SIPP, you load up a Roth IRA and you do everything you can to increase the number of accounts you keep books for to increase your income and let’s bust it for a few years.



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