Should You Invest 15% For Retirement If You Already Have A Pension?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 27 December 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

💵 Sign up for EveryDollar today - Create a free Budget! 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, and are disciplined and responsible! Next Steps: 💰Need Help with your investments? Click here to connect with a SmartVestor Pro. 🏠To learn more about how to plan for Retirement, click here 🏦To learn more about Investing, click here 🎓Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership 💸 The Ramsey Show Highlights Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

Click on a timestamp to play from that location

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.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.