'Retirement's not a feeling': A 54-year-old Ramsey Show caller is worried because his wife doesn’t think their $2.5 million nest egg will be enough to retire — is she right?

According to data from a Northwest Mutual survey, baby boomers feel they’ll need around $1 million to comfortably retire, gen X will need $1.56 million, millennials $1.65 million and Gen X $1.63 million.

On the popular "Dave Ramsey Show", one 54-year-old caller (who would straddle the line between Gen X and baby boomer) said he felt he may not have enough to retire. Ramsey’s advice to the caller was that he has a perception problem, given the income his wife earned at the time was around $160,000 per year and the $2.5 million in savings the couple had accumulated over their lifetime.

The caller was concerned about his wife’s perception that they may not have enough for him to retire at 55. Dave Ramsey responded with some math, that pulling off 8% or 10% per year of the couple’s $2.5 million nest egg, should provide them with more than enough to retire, even if his wife isn’t working, suggesting they’re “fine” from a financial perspective.

If you’re also wondering whether your retirement fund is sufficient to support your lifestyle after you stop working, there are a steps you can take to secure your retirement finances and give yourself and your family peace of mind.

Building assets is key

In order to have something to live off of in retirement (aside from social security and government assistance, of course), building wealth via owning assets is the priority for the average American. Real estate remains the most important asset class for the average American, with around 70% of most households’ net worth tied up in real estate.

For those looking to expand this portfolio beyond their primary residence, the good news is that there are plenty of options to consider.

Arrived is a platform for investors that allows for partial investments in vacation homes and other rental properties. In other words, you get a passive income stream without the constant headache of being a landlord. Simply choose from Arrived’s list of vetted properties and start investing in fractional shares of top real estate in major cities with as little as $100.

While real estate has long been considered the top safe haven asset, the precious metals market is also an excellent option for the cautious investor. Instead of stashing one’s net worth away in vehicles and spending on luxury items, having some allocation to gold and other stores of value (while also giving generously - one of Dave Ramsey’s key pieces of advice for this caller) isn’t a bad idea.

A golden alternative for your nest egg

Even using the more commonly-accepted and conservative 4% rule (drawing a maximum of 4% of your retirement portfolio’s value per year), and factoring in their current income and an estimated 10% portfolio appreciation over the next decade, Ramsey believes this couple will likely have plenty to live on in their golden years.

But if you are just starting building your retirement nest egg or you are looking to give your savings a boost, there’s another type of IRA that can help give you peace of mind.

You may not have considered investing in gold for your retirement fund, but opting for a gold IRA with the help of Priority Gold is a potential way to protect your retirement savings against market volatility.