4.8 • 3.6K Ratings
🗓️ 27 December 2024
⏱️ 10 minutes
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0:00.0 | This episode is sponsored by SmartVester. |
0:07.2 | Connect with an investing pro for free at ramsysolutions.com slash invest. |
0:14.6 | You're listening to Ramsey Everyday Millionaires, |
0:17.4 | where we talk investing, retirement, building wealth, and outrageous generosity. |
0:22.5 | We've got Sarah who's in Houston, Texas. Let's go. What's going on, Sarah? |
0:27.3 | Hi. I am a stay-at-home mom, and my husband and I don't have any debt other than our mortgage, |
0:35.4 | and we live on a budget, but it's pretty tight, |
0:39.4 | and I find every time I'm saving money, I end up dipping into that. |
0:44.7 | My question is, my husband has a pension because he works for the city, but we also give to |
0:53.5 | a different investment account, like for for retirement just in case the pension |
0:57.7 | gets mismanaged. And I'm just wondering if we're overdoing it. Well, tell us the numbers. What percentage |
1:03.1 | goes, what percentage goes to his pension and what percentage are you guys putting aside in the |
1:08.6 | additional investment accounts? So 12% goes to the pension. |
1:12.3 | Okay. |
1:13.0 | And I think it's almost, it's almost 15% goes to the 457. |
1:20.9 | Wow. |
1:21.5 | Okay. |
1:22.3 | Typically what we would say is treat the pension like half. |
1:26.1 | So maybe in this case you could treat it like 6%, and then you do the other 9% to another investment account that you have more control over. |
1:34.6 | So in that way, you could pull back. And I think having that extra 6% would help things feel less tight. Yeah? |
1:43.2 | Yes, for sure. |
1:45.0 | Yeah. |
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