Ramsey Host Says 40-Year-Old on $85,000 Can Reach $1.4 Million by 65

2 articles · Updated · 24/7 Wall St. · May 28

$15,000 a year invested from age 40 to 65 grows to about $1.4 million at a 10% annual return, making the host’s multimillionaire projection mathematically plausible even for someone starting from zero.
That outcome depends on sustaining a 15% savings rate—about $1,063 a month—which is far above the 4.0% U.S. personal savings rate; dropping to 10% cuts the ending balance to roughly $940,000.
Inflation is the main caveat: at roughly 2.5% over 25 years, a nominal $1.4 million would have purchasing power closer to $750,000 today, still substantial but far from luxury-wealth territory.
The plan fits inside 2026 retirement-account rules, with a $24,500 401(k) contribution limit and an $8,000 catch-up after 50, but it works only if the saver first stabilizes cash flow, captures any employer match and keeps raises flowing into savings.

With savings rates so low, is a 15% investment goal more aspirational than achievable for most?

Is the traditional 401(k) path to millions obsolete for those starting over at 40?

The math works, but what psychological traps prevent people from following a 25-year financial plan?