The Biden Administration Doesn't Seem Favorable Toward 401(k)s...Should I Keep Contributing?

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 2 February 2021

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Chris Hogan, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Tuesday, and this is the Ramsey Call of the Day, part of the Ramsey Network.
0:06.4	Joining me today is Ramsey Personality, Ken Coleman.
0:10.5	Sarah is with us in St. Louis.
0:12.6	Hi, Sarah.
0:13.2	Welcome to the Dave Ramsey Show.
0:15.6	Hi.
0:16.8	Hey, what's up?
0:18.4	So I have a question.
0:20.3	I graduated undergrad, my undergrad, my undergrad degree, debt-free, and I'm currently
0:25.3	working on a law degree paying as I go and working full-time so that I can graduate debt-free.
0:29.7	Great.
0:30.1	But I'm also contributing to my 401k, and I'm doing the full 15% of my paycheck, and my company has a good match. I've seen some articles
0:40.5	online that seem to make it appear that the new administration doesn't look favorably on 401k's
0:47.2	and wants to possibly, you know, diminish them. So I'm wondering if I should do anything with the 401k that I have now.
0:55.7	No. I have not seen that trend by anything credible, but I have no idea what the Biden
1:04.9	administration is going to do. And we do not have the benefit of checks and balances in that they
1:10.6	can pass anything through a Democrat,
1:12.6	Senate Democratic Congress. So I don't know what they'll pass. I would think it would be very
1:19.6	difficult and political suicide to screw with the largest wealth building tool in America,
1:24.5	but who knows? These are strange times.
1:32.7	So it doesn't mean, though, that I wouldn't put money into it in anticipation of some bizarre political event.
1:34.1	And by the way, that would be the definition of a bizarre political event.
	...

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