Is Investing or Paying Off the House More Important?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 23 July 2021

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, Anthony ONeal and John Delony.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.1	Mike starts off this hour in Dallas, Texas.
0:16.4	Hey, Mike, how are you?
0:18.6	I am doing good.
0:19.6	Thanks for taking my call.
0:21.0	Sure.
0:22.0	What's up?
0:23.0	So my question is, my wife and I just finished baby step three.
0:28.5	And so in looking into my retirement account at work, I have a 401k, and I discovered that
0:37.1	I can either do it as pre-tax or a Roth.
0:41.2	And so I was wanting to find out, is there a difference between a Roth 401k versus the
0:49.0	Roth IRA, which is the better?
0:53.6	Should I do both or just one?
0:56.1	That's a good question.
0:57.9	Is there a max, not a max, a match with your Roth 401k?
1:02.3	Yes, my work matches 6%.
1:05.6	Yeah, so what we teach here is, is I was going to match Roth then traditional.
1:11.0	So I'm going with your matched Roth 401k before a Roth IRA.
1:18.0	But that's because of the match, because of the Roth.
1:20.8	There are both Roths, meaning they both will grow without taxes on the growth.
1:27.0	So a Roth IRA grows exactly like a Roth 401k.
	...

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