Should I Be Investing 15% of My Side Income?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 3 November 2021

⏱️ 5 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, John Delony, and George Kamel.

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	Carla is in San Antonio.
0:15.8	Carla, welcome to the Ramsey show.
0:17.5	Hi guys, thanks for taking my call.
0:20.1	Absolutely.
0:21.1	How can we help today?
0:22.1	Okay, so my stuff and I were currently wrapping up on baby steps 3, we'll be done at the end
0:27.4	of the month and as we start preparing for the 15% into retirement, I have a question
0:33.2	about volatile income.
0:34.9	So we have some side hustle income and my spouse is a new real estate agent.
0:40.5	So I was wondering, is it okay if I take my fixed salary and say 15% of that and then
0:47.6	take the side hustle money and throw it at the mortgage?
0:52.9	Or how do I just, or I guess like how do I balance that into the 15%?
0:56.9	I guess it's my question.
0:58.5	Okay, so you've got, you have your full time job and you have some side hustle income
1:02.2	and you're saying, hey, can I invest just my full time job and not the side hustle income?
1:06.6	Right, it's so volatile, yeah, exactly.
1:09.6	Yeah, it's a great question.
1:11.6	We tell people to invest 15% of their household income.
1:14.6	That means any money coming in that year.
1:17.5	So if I'm you, I'm taking 15% of the side hustle income and I assume you're still going to
	...

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