I see that many of you are more comfortable voting in my polls than commenting on my posts. ;-) Which is fine, I might add. But on this last poll, I'm kinda curious to know the reasoning behind the votes on each side. The poll question was:
Should Shegazelle resume 401K contributions now or after Baby Step 3?
If at least one person from each side of the vote could let me know why you voted the way you did, that might help me make the decision. HG and I both have 401K's at work, his with profit sharing contributions from his employer and mine with a 100% match up to 3%. We haven't decided yet whether or not we should resume contributions right now.
Tell me what you think.
6 comments:
Dave Ramsey says fully fund your 401 after baby step 3. Follow the plan. It works.
Tom
I closer to retirement than I'd like to be and many years ago in my late 20's I withdrew money from my super account (retirement funds in Australia).
I was young, retirement seemed a long way off, I figured I had plenty of time to make it up. Unfortunately sickness & job loss intervened. If I had just left that money alone and not invested another cent I would be looking at a wealthy retirement.
Now, I'm faced with 10 -15 years to try and build retirement funds. Nothing beats the power of compound interest, so fund the 401, you'll still achieve the other goals. You can buy a lot of things but you can't buy time! :)
I said after because that's what Dave Ramsey says...He got you this far, right? :-) Congrats, guys...you inspired us and we paid off our car last month, too!
I agree with anonymous, and why I voted for fully funded emergency fund before returning to retirement.
Dave's plan has changed you world and he's taken you this far.
As Dave say's, it's not just what he says you should do, he's proven this to be the way things work best, from having thousands of clients do it that way.
You can get his done in a few months, by the cooler weather, you will be done and on to BS4- saving for retirement.
I'm actually divided on this. According to the Ramsey plan, you should do baby step 3. However, it depends on how long that takes AND is it possible to do both? Fund the 401K and save for baby step 3? Possibly. Depends on the funds rolling in. I voted for the 401K, but others are right - prolly should follow the plan.
I agree with following the Dave's plan. It's working!
Post a Comment