Dave Ramsey decries the "bad life plan" that many Americans now consider retirement to be: "Saving enough money so I can quit the job I hate."

Famed personal finance guru Dave Ramsey calls out Americans who consider saving enough money to quit their jobs as a bad life plan. Here’s what Ramsey had to say about this flawed approach.

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Recently, Ramsey wrote on X, formerly known as Twitter, to express his concerns about this latest retirement plan people are using. He wrote: “In America, retirement now means ‘save enough money so I can quit the job I hate.’ “It’s a bad life plan.” Considering that a record number of Americans will reach retirement age in the coming years, and more than half feel they haven’t saved enough, Ramsey’s advice is still more relevant.

According to CNBC’s international Your Money Financial Security survey of 498 people in the United States, more than half (53%) admitted that they are behind when it comes to saving money. money for retirement. David Blanchett, certified financial planner and head of retirement research at PGIM, says, “I think most Americans struggle to save enough for retirement. »

Another survey, Retirement Insecurity 2024: Americans’ Views of Retirement, conducted by Greenwald Research, found that 55% of Americans worry they won’t be able to achieve financial security in retirement, and 73% admit that high inflation makes them even more worried.

So what does this mean for people who hate their jobs and can’t wait to quit? The New York Times recently reported on a growing workplace trend called “resenteeism.” Jennifer Libby, district manager at Insperity in Kansas City, says this trend concerns people stuck in a job they end up hating because they can’t leave it for financial reasons or because they can’t to find a job elsewhere. Libby adds: “Over time, these people begin to resent their employer because they feel trapped in a job they don’t want. »

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Ramsey acknowledges that there are cases where people really don’t like their job and provided some helpful tips to help them get out of this bad life plan. In a blog post shared on Dave Ramsey’s website, Ken Coleman gives practical advice, like changing your direction. He writes: “If you constantly focus on the negative aspects of your current job, your brain will continually search for evidence to support this negative view. » Instead, you should try to focus on the positive aspects of your job and not just focus on making money to leave because you hate living there. This is a way to extend your stay there even further.

You can also focus on the skills you are developing. Coleman writes: “You may hate your job today, but think about this: What are you learning there? Coleman also advises that you’ll only get out what you put in and that negative thoughts won’t get you anywhere.

While these tips can help, Coleman suggests thinking about your dream job and taking stock of your finances if you’re considering leaving your job, because these days the average retirement age in the United States is Unis is evolving and many find themselves working beyond the age of 64. In fact, Suze Orman, a financial expert, believes that “seventy is the new retirement age, not a month or a year before.” Ideally, you should try to find a job that you’re passionate about so you don’t worry about working later to take advantage of all your Social Security benefits and ensure you have more than enough money for retirement. Working just to make enough money to retire from a job you hate is not a good life plan, nor is it good mental health.

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