Jul 20, 2026
Kate’s parents are in their late 70s. Her father has spent his career in ministry, and the couple has never accumulated much wealth. They have a modest home and two cars, all paid off, and remain deeply committed to spreading their faith. They also regularly donate to Christian ministries. But they’ve told their kids they don’t have enough money to retire.
When Kate of Sioux Falls, South Dakota called into The Ramsey Show, she explained that her parents believe they’ll be raptured before they die, effectively treating the Second Coming as their retirement plan. They’re also private and somewhat embarrassed about their finances, making direct conversations nearly impossible.
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Ramsey, a Christian himself, agreed with the theology in principle, but not the financial strategy.
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“(It’s) very clear in scripture that we’re not going to know the date or the time of his return,” he said. “Given that, we have to plan as if we’re going to be here. That plan works if we’re not here or if we’re here. Their plan only works if we’re not here.
“They’re ashamed,” Ramsey added, explaining their secrecy. “They know they haven’t done a good job with money. And it bothers them.”
The rapture expectation, he suggested, has become an emotionally convenient excuse for what’s ultimately a financial planning failure.
“We didn’t do a good job … blame it on the rapture.”
A situation far more common than it seems
Kate’s parents aren’t unusual in their lack of retirement savings. What’s unusual is their explanation.
According to AARP data reported by The Street, 37% of older adults now feel financially insecure, 60% worry they won’t have enough money throughout retirement and 69% say prices are rising faster than their income. Among those who haven’t yet retired, 42% have saved less than $50,000.
Federal Reserve data cited by 24/7 Wall St. found that 46% of Americans have no retirement savings at all.
Even for those who have saved, the numbers are sobering. Americans ages 55–64 have an average of about $185,000 set aside for retirement, according to Federal Reserve data cited by Frank Finly, a fraction of what’s typically needed. Fidelity notes that withdrawing 4% annually from $1 million generates just $40,000 a year. Meanwhile, healthcare costs alone may require $172,500 in after-tax savings, leaving little room beyond basic medical expenses for someone with only $185,000 saved.
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Ramsey’s recommendation
Rather than pushing for a financial intervention that almost certainly won’t work, cohost Rachel Cruze put the odds of changing a 78-year-old’s financial mindset at around 2%.
Instead, Ramsey recommended a subtle approach focused on meeting basic needs. He told Kate and her siblings to check in regularly without triggering defensiveness. Make sure property taxes are paid, the refrigerator is stocked and the utilities are on. Bring groceries under the guise of having extras. Share part of a bulk meat purchase. Drop off eggs from a friend who has chickens.
“Subtly poke around without getting them on a full plan like they actually should be,” he suggested.
The good news in Kate’s case is that her parents own their home and vehicles outright, so their housing and transportation needs are secure. That makes day-to-day financial challenges more manageable.
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Kate also raised concerns about her parents’ ongoing donations. Ramsey was realistic about that.
“I just don’t think there’s much we can do about that,” he said, adding that unless the parents specifically ask for input, there will be no change.
If they do, he suggested gently examining whether the organizations they’re supporting are spending donations responsibly, while making sure their own basic needs are met first.
The broader lesson
Kate’s situation reflects a growing reality for American families. According to a Lending Tree survey cited by The Street, nearly 46% of Americans financially support aging parents now or expect to do so in the future. Many don’t discover the full extent of their parents’ financial situation until a crisis forces the conversation.
The steps Ramsey outlined — checking on basic needs, bringing groceries and making sure the utilities stay on — reflect the kind of informal safety net families often end up building when the money talk never happened.
For anyone navigating a similar situation, the takeaway is simple: Don’t try to transform someone whose financial beliefs are fixed. Instead, build support systems that cover the basics. And if the opportunity for an honest conversation arises, approach it with empathy, specific information and as little judgment as possible.
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With a writing and editing career spanning over 15 years, Emma creates and refines content across a broad spectrum of industries, including personal finance, lifestyle, travel, health & wellness, real estate, beauty & fitness and B2B/SaaS/tech.
