This Is The Worst Thing You Can Do With Your 401(k)!

Next Steps:

Explore More Shows from Ramsey Network:

Ramsey Solutions Privacy Policy

Product Links:

[caseybills]

Biggest financial mistake I ever made was with my 401k. My company had a Roth 401k when my kids were in college, but I didn't actually start contributing until year 3 of the 6 years I had kids in college. Because I was helping them with expenses, I was entitled to the tax credits, so my effective tax rate was extremely low. That is the time you NEED to be in a roth! i still retired with about $350k in my 401k.

[jordandowland]

Insane from an investor’s standpoint. Genius from the lender’s. Retirement payday loans 😂

[brett]

Dave has found his PERFECT co-host here with Jade. She's a younger, female version of him. She fits incredibly well and is doing a fantastic job on the shows.

[cuz]

Jade is a real win. She has the same huge personality as Dave and is a gifted communicator. He's so good at bringing in talent.

[simonpegg]

It's just so sad when people are surrounded by sharks who are ever ready to rip them off.
It's so important to teach financial lessons to children while they are in middle school.

[ericallen]

Jade is the best host they have ever had. She has a razor-sharp wit and is fun to listen to.

[ChristopherAbelman]

A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?

[leoma-lr]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[geezy]

This show is so much better when Dave lets the co hosts talk.

[CrossForum]

Love that connection Dave made to the John Wick movies. That's the first thing I thought of when Jade mentioned the company's name and started describing this financial scheme. These sound pretty much like title loans and payday loans, and just as bad.

[MIchaelGuzman]

The 401k is good, because retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million. So it really does.

[Diana-roxj]

Please Lord, protect people from this company by giving them understanding of how bad this for them🙏

[drayn]

Awesome chemistry between these two… She’s an great co-host.

[Agingcowboy]

Imagine getting to the end of the race and losing 20% 😂😂😂

[Curious-Lass]

There is ALWAYS a catch! Anything that sounds too good to be true usually is!

[AviSpira]

Thinking of Dave watching John Wick just makes him more relatable and makes me happy.

[daryltgeorge]

Never thought I'd see the day Dave Ramsey makes a John Wick reference

[Lancelot]

I absolutely Love Jade. She’s a great Addition to the show. Great Job on y’all to add her on

[bigcahuna]

Jade: "Who stays at the same job their whole life"? I'm on course to doing that and a lot of people are. Been working for the same retailer for 29 years. They were my first job from my high school years, I still work there obviously doing something else in the company that pays a lot more. As long as my life doesn't drastically change and the company is still in business, I plan to take this job all the way to retirement.

[stephenswarts]

There is upside for the buyer (100 percent return via the match, participating in the plan vs. not participating), but it's still not necessarily a good idea.