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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 21 July 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.8	Joining me today is Ramsey personality, Ken Coleman.
0:15.8	Mary is with us in Charlotte, North Carolina.
0:18.1	Hi, Mary, welcome to the Ramsey show.
0:20.1	Hey, Ramsey, thank you so much for taking my call. Sure, what's up? So, North Carolina. Hi, Mary. Welcome to the Ramsey Show. Hey, Ramsey. Thank you so much for taking
0:21.7	my call. Sure. What's up? So, um, my husband ever mentioned to me that he had a second 401k account
0:28.6	from his previous employers. And I came across all this while we were doing the budgeting. Um, and
0:35.3	mind you, we've been doing budgeting for like a very long time.
0:40.5	So a question came about because we have a $60,000 credit card debt.
0:45.6	And my question was, well, can we pay some of it from the 401K?
0:50.4	And I think that you're totally against that, right?
0:53.5	Yes, I am.
0:54.1	But the bummer is that he never did tell me he had another second 401K,
0:59.8	which amounts to almost $250,000.
1:04.0	So he's still putting, you know, money towards that 401K plus the current employers 401K.
1:11.7	No, he's not.
1:13.0	You can't add to a 401k at a company you no longer work for.
1:17.1	Oh, okay.
1:18.9	You can only add to a 401k in a company you actually still are employed by.
1:23.5	Okay.
1:24.1	So you're putting 15%?
1:25.9	Okay.
	...

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