On the Ramsey Everyday Millionaires Youtube channel, James 60, called in to speak to the finance guru, concerned about the future for him and his wife. He explained that they had no debt other than their house which could get paid off in the next ten years.
James explained to the finance expert that they had just refinanced their house.
At the time, the market had exploded in in his home town so their house was worth $230,000 (around £184,000) in equity.
He wanted to liquidate the property so he could get his hands on the cash.
He was worried about the market crashing and getting less than his house is worth at this time.
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Mr Ramsey explained he would only be able to get the money once he has sold his house.
But the personal finance expert said it was hard to get money out of the house without borrowing, and he would not suggest this as it would be remortgaging and running the bill up.
James said: “We’re just really concerned for our twilight years.
“That’s about the only thing that we have and can look forward to.
However Mr Ramsey reassured James he had enough time to do both.
He continued: “You have five to years to get your house paid off and build a nest egg (retirement fund).
“If you want a good solid retirement you need a paid for house and solid nest egg.
“So you have to aim at that. It’s not going to be $200 (around £160) each month extra, it’s going to be more than that.
“At least 15 percent of your income should be going into retirement.”