Should I Switch From A Pension To A 401K?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 20 November 2024

⏱️ 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 sponsored by SmartVester. Connect with an investing pro for free at ramsysolutions.com slash invest.
0:14.7	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building wealth, and outrageous generosity.
0:22.7	Let's get to the phone lines.
0:24.0	Game on.
0:24.8	On and popping.
0:25.6	All right, we got Lee.
0:26.4	She's in Columbus, Ohio.
0:28.2	What's going on, Lee?
0:29.6	Hi, you guys are like my two favorites here.
0:32.4	I'm so excited.
0:33.2	I cannot wait to tell Ken and John and Rachel and Dave.
0:36.5	That's so kindly.
0:38.1	Thank you.
0:43.4	How can we help? Well, I think my question is actually pretty timely. I work in local government, so I'm in a pension. My husband and I are on baby steps four, five, and six newly,
0:49.3	but I have always been required to put 10% of my money or my salary into a pension.
0:54.7	Okay.
0:55.3	And now that I'm looking into it, I have the opportunity, and I can only do this once.
1:01.1	I cannot take it back to switch to a member 401k type of plan.
1:07.4	Yes.
1:08.9	Oh, yeah.
1:09.6	So I just, you know, I can't roll over what's already in the pension or
1:13.6	anything like that, but I'm just, I have, I mean, I've been in service for nine years and
	...

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