Should I Really Stop My 401(k) Contribution While Paying Debt?

Should I Really Stop My 401(k) Contribution While Paying Debt?

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• The Ramsey Show (Highlights):

[melgonz.]

Omg, she reminds me of the mom "Kitty" from "That 70s Show". Shes a nurse too 😂 That laugh.

[donstarnutinwonbenutinuhh]

Why do people KNOW his plan and call him to get his blessing for NOT doing his plan? They want his permission to do it their way.

[stevee]

With her income she should have no problem paying off her debt quickly and still taking advantage of her employer 401k match free money.

[bobbyb]

My 401k returned 24% this year. I paid off my debt and never stopped contributing. I dont believe in leaving free money on the table.

She can afford to do both.

[CashKid]

This is so true. I became debt free earlier this year not contributing to my 401K. The extra money in my take home made a huge difference in the speed I could pay my debt off.

[cobrajoe]

This lady looking for any excuse to not pay off her debt 🤣

[Calmer]

a nurse.. 20k debt . 150k annual salary, , thats a great life to most .

[cmdomino]

Anyone every notice Dave Ramsey will tell people to cut off contributing to their 401 k in order to pay down debt, but never recommends checking out his books from the library for free instead of going to his website to buy them?

[ProSkillGuides]

Clearing your debt off your name can be a big relief to your sanity. If anyone out there is trying to get ahead just know that you can do it. Clear that debt and start investing in those mutual and index funds.

[whittneyprice]

He said the math is this, pay off $23, 000 in debt! Period! And told her she flunked 😳

[mr.budget]

I think to keep the ball rolling stopping the 401k is the best way to pay debt as quick as possible. I stopped mine in hopes to pay it asap. Happy holidays everyone:)

[EvangelistRBColbert]

No one should stop their 401K contributions. You are giving up free money if your company matches. All three can be done. Your bi-weekly pay or weekly pay, can be split in 3 ways. Saving, paying debt and investing. The more debt is paid then you can increase savings and investing amounts!

[eemr]

Makes 120k and she is complaining about paying 20k SMH. People always make an excuse when they are being held accountable.

[swesr]

i would just reduce her contribution from 8 percent to 4 to get full match and power thru that debt . Not a hard question lol

[sickbasterd]

She was just flexing her imaginary 150, 000 k salary, when she gets told why not pay off debt sooner she says well its not reallg 150 k salary,

[luisrobles]

If I make $150, 000 a year I would have that paid in 3 months with my current expenses.

[noahchristensen]

"we have joint custody" " I'm a single mother"

[chelsimarie]

As an RN myself, I understand her when she says our income fluctuates depending on the amount of patients. Some days are more loaded than others so it's not a set amount of number each paycheck sometimes. Being in California though, it's not too hard to get a PRN job if needed.

[too-da-loo]

Don't agree with Dave here. That compound growth and company match over the next 12-15 years is worth way more than the interest on any credit card. It is not about saving 2k in taxes, it is the amount that 8% & company 4% will be worth in 12-15 years.

[carlsnell]

Dave Ramsey is brutal and honest love it.