Should I Rely on My Employer’s 401(k)?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 19 February 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:07.9	Connect with an investing pro near you at Ramsey Solutions.com slash SmartVester.
0:13.8	Andrew is in Winston-Salem, North Carolina.
0:16.5	Hi, Andrew.
0:17.2	Welcome to the Ramsey Show.
0:18.7	Hey, Dave.
0:19.2	I'm doing well today.
0:20.5	Appreciate you taking my call.
0:21.8	Sure.
0:23.0	So I'm 32 years old, and I've been following your baby steps and your content on YouTube and your website.
0:29.9	I've just reached baby step number four.
0:33.4	Congratulations.
0:34.6	Well done.
0:35.5	Thank you very much.
0:36.6	Yeah, it was a big achievement.
0:39.7	So in regards to investing, I just took a look at kind of what my current situation is,
0:46.1	and I'm enrolled in my employers 401K and contributing 6%, which is what my company matches.
0:56.1	Now, I think your advice is to next open up a Roth IRA and max that out.
1:02.6	And if there's any leftover, put that back into the 401K to hit by 15%.
1:08.4	Is that correct?
1:09.3	Yeah, exactly.
1:10.3	Unless your 401k offers a Roth and has good options
	...

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