Dave Ramsey Bad Investment Advice on 401k – #MyOpinion #Part2 – FOM#29

This video shown below (https://youtu.be/W-G1ecrqNhM); the husband does not want to stop investing while his wife continue to pay down debt in my opinion the husband is correct not the wife and Dave Ramsey

My Main Comments:

Dave is wrong here the husband is right they can do the debt snowball and still do the 401k

Stopping the 401k will also increase their taxes

And they already paid off 25k I think the husband plan is working with the debt snowball

I believe you can do both and what’s wrong with modifying total money makeover maybe call it total debt makeover while getting rich

I agree the wife is trying to follow it but the husband is smart she can continue his 15% 401k contribution you don’t need to follow everything Dave says you have to read and tailor things to your financial goals not everyone is the same

Also, for high income earners contributing to 401k saves taxes so if he stop the 401k he will paying down the Debt with a little more income but no investment and paying more taxes and also lost of the time value of money – time loss on making his money work for him

Source: https://youtu.be/W-G1ecrqNhM

Leave a Reply

Your email address will not be published. Required fields are marked *