Should I Work For a Company Without a 401(k) Match?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 29 April 2022

⏱️ 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, 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.
0:13.9	Danny is in Minneapolis.
0:15.5	What's up, Danny?
0:16.5	Hi, how are you guys?
0:19.0	Doing great.
0:20.0	How can we help?
0:21.0	So, I'm currently reading the book Everyday Millionaires, and it sounds like a lot of these
0:27.0	millionaires have built their wealth by contributing to their company's 401K plan.
0:32.4	Correct, 79%.
0:33.8	Yes, and I just received a job offer from a company who states that they have a wide
0:42.0	variety of investment options available through the company's 401K plan, but they don't
0:48.4	have a match.
0:49.7	However, they have an ESOP, which is the company contribution of stock annually to my personal
0:57.2	ESOP account, and they state that this ESOP will, if more valuable, over time, the longer
1:04.1	I'm with the company.
1:05.1	So, I'm just wondering what your thoughts are on having the company having ESOP instead
1:09.9	of a 401K match if I should look into that more before accepting the job offer.
1:15.5	Well, I wouldn't decline the offer because there's no match.
1:19.2	You can still become a millionaire through your 401K with a 0% match.
1:23.0	That's okay.
1:24.0	The match is fun.
	...

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