Dave Ramsey Warns: This Common Habit Can Ruin Your Retirement

Core Insights - Investing $100 a month from age 25 to 65 in a growth stock mutual fund could yield $1,176,000 at retirement, potentially allowing for a comfortable retirement as a millionaire [2] - Carrying debt into retirement can undermine retirement savings, as high payments and interest rates can lead to financial struggles [3][4] - Debt is described as a significant barrier to building wealth, with cultural normalization of debt making it difficult for individuals to envision a life without it [4] Debt and Lifestyle - Many individuals live beyond their means, leading to debt accumulation that can persist into retirement [3][4] - Inflation is not a valid excuse for accruing debt; individuals are encouraged to adjust their lifestyles and cut expenses instead [5][6] - Debt can eventually catch up to individuals, particularly if they rely on it to maintain their lifestyle, leading to financial repercussions [7]