Traditional or Roth 401(k)?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 29 June 2022

⏱️ 4 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.
0:14.1	Starting this hour off is Jay and Los Angeles.
0:16.1	Hi, Jay, how are you?
0:17.1	Hi, Jay, from Well, how are you?
0:19.4	Better than I deserve, what's up?
0:21.4	I'm kind of new to your teachings, but I'm actually not far off.
0:28.2	Like when I look through like your steps, I'm very close, like baby step adjacent, I'm
0:34.9	right there.
0:35.9	Okay.
0:36.9	I was working on baby steps six before I kind of got locked into what everything you were
0:42.3	saying, but just to kind of walk it back a couple, I've had 15% going into my retirement
0:48.5	already, but I'm not sure the percentages I have going in, I'm not sure if it makes
0:54.9	sense.
0:55.9	It's not only does a regular 401k and they also do a Roth 401k.
1:02.0	I randomly just had like 12% going into the regular when they'd also do the 5% match and
1:07.9	I had 3% going into the Roth, and I have no idea if that makes sense or if I should change
1:13.5	that, but I just kind of want to get your feedback on that.
1:16.6	Okay.
1:17.6	Well, let's just use some round numbers.
1:20.7	If you were going to, as an example, compare putting 15% of your income into traditional
1:26.8	versus 15% of your income into Roth.
	...

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