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Kentucky Eden Hucklewilt.

Hello. I was just wondering. So we are currently on baby step number two. We have about maybe

12 to 14,000 in debt with like car loans and stuff. But we have been put on money towards our IRA and 401K for about a year now

before we started with the baby steps. And I was just wondering what currently put in 3% in 401K and 3% in IRA and the employer is matching the 3%.

Basically I'm wondering, should we stop doing that? You know, just start putting it all towards baby step number two or you know, it's just I think it's like 60 bucks every pay check. So it's not a whole lot. I don't know if we should just continue doing that or.

Yeah, great question. Well, part of the plan is gazelle intensity and baby step two. And that means every extra dollar that's going anywhere else is now reallocated towards that debt.

And this is a hard one emotionally for a lot of people to grapple with going, well, I'm getting the free money from the employer. Why wouldn't I continue to do this? You guys talk about the power of compound interest.

But we found the shortest path to wealth is focused intensity. And when you allocate those dollars, even if it's 60 bucks a pay check, you know, you do that in the 401K the IRA, it's 120 bucks a pay checks.

And now we're talking 250 bucks a month round numbers. And now we multiply that out. We go, okay, well, that's, wow, that's a few thousand dollars that could help us become debt free even faster.

And then once we get back to investing, we're no longer doing these three percent three, we're doing 15%. And so you're going to make up for that lost time and you're going to retire a millionaire if you just follow the plan.

But again, it's a hard thing emotionally to grapple with. And I don't want to, you know, minimize that. But that's exactly what I did. And it's exactly what people who go all in on the plan do. And that's where they see the results.

So how much faster would you be debt free if you paused all investing right now?

Well, we're already, you know, we're trying to go all in and everything else. Did the math and we should be completely debt free this time next year.

So it probably cut it down at least a quarter. So what's your income?

About 55 to 60,000.

Okay, so how's holding come 55 to 60 and you've got about 14,000 in debt. And so you're saying it'll take 12 months to pay off 14,000.

Around about we've already put in our entire tax return towards the debt. So we're going to put a big dent in it.

So here's the question, how can we speed that up? We're going to make 60,000. It's going to take us a year. That's about a thousand a month going towards debt. What if we could put 1200 towards the debt? What if we could put 1300 towards the debt? How does that speed up the process?

And that's where it starts to get exciting. And that's when you start to go, okay, I'm willing to pause the investing. I'm willing to take on the side hustle because now I see a path for us to do this in eight months instead of 12.

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