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

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Title	:	Should I Really Stop My 401(k) Contribution While Paying Debt?
Lasting	:	5.52
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Views	:	71 rb

Telling her she "flunked" is so unnecessary and unhelpful wtf
Comment from : CL

Jesus Mia
Comment from : nyu98

I’m a nurse in SC I just took another job I’ll be working 56 hours a week for a year so I can pay off 40k in debt and put 40k in my savings Sacrificing every weekend is going to be hard, but it’s going to be so awesome when it’s over! brGirl needs to roll up her sleeves, be prepared to sacrifice comfort for a bit, and get debt free!
Comment from : Alicia Smith

It's wonderful watching this in 2022, "I'm a nurse, we have to have the patients and the need"
Comment from : The Art of Singing

Is this Kitty from the 70’s Show??
Comment from : Ceo Of Companies

Man I love Dave haha 3:15
Comment from : KingCap

My company puts a certain amount in my 401k whether I contribute or not Is that unusual?
Comment from : Facts Over Feelings

Stop funding your 401K plan that will 10X your money to pay off debt ? Get out of debt, and have no retirement
Comment from : Bluponi

Her voice is so annoying
Comment from : Yazeed Gh

Arrogant, Dave 👎🏽 The accountant was correct She could afford to do both
Comment from : Mavis

I wonder if anyone has ever told this woman she sounds boring on the phone
Comment from : areufreemrhumphries

But But But But But But
Comment from : gator8373

Thank goodness for the bail button at 4:10 caught bragging about the 150, only to demonstrate a lack of financial management
Comment from : eastcoastbret

The decision is to use the program that fits your personal financesbrThrowing away free money is stupidbrIf you have a large shovel, it is even dumber to throw away free money
Comment from : Michael Varney

With her income she could be out of debt in 1 maybe 2 months
Comment from : KMF

People that speak this slow, with this ever-changing tone, and that stupid cheery attitude, should be shot to the moon
Comment from : Harry Kashouli

Sorry but Ramsey's being a stubborn idiot here She should be maxing her employer contribution to 401k; the returns on that far exceed the interest rate on debt and it will barely back the timeline on the debt repayment
Comment from : Russell Brown

2:51 lol, WHY???
Comment from : V4 Vannatta

Sounds like a complete psycho
Comment from : GabeG plays

I get mad when I hear these people who make over twice what I make and they're dumber than a box of rocks
Comment from : Ed

I temporarily stopped my 401(k) contributions until I pay two 401(k) loans I want to start my contributions in three more months My company contributes only once a year, so I won’t be missing too much if I catch up
Comment from : Alexis Jankowski

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
Comment from : SWESR

I'd pay off the 23k debt in 3 months if I have her 150k salary but rice and bean is my norm
Comment from : Harry Lui

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

So she’s a nurse making $150k and I’m an engineer making $60k clearly I’m doing something wrong
Comment from : Archer

So let me get this straight Dave is telling people don't invest money in your 401k until you pay down your debt So if the average person buys a house at age 30 and takes out a 30 year mortgage, they shouldn't start investing in their 401k until they turn 60! Meanwhile they completely miss out on potentially hundreds of thousands of dollars in matching contributions from their employers plus the tax savings plus investment growth over 30 years You'll be proud to say you're debt free but not have a penny saved for retirement Good strategy Dave!
Comment from : Greg

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

Aand thheeen?? Like when she taaalllks? Its really frustrating to listen to??? If she were my nurse id get a headaaache??
Comment from : P Sherman Fortytwo Wallaby Lane

They must have thousands of people who call in and this lady got through? The baby steps are simple concept Challenging, yes, but simple
Comment from : Anthony Stone

This is proof she's not even working at trying to get out of debt She's just casually sorta going about it
Comment from : 1redrubberball

I absolutely love her voice, she could make extra income doing voice over work for childrens programming lol
Comment from : SBoogey

How can you make that much money and be so dumb
Comment from : SurveyingStudy

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
Comment from : Chelsi Marie

If your employer matches 50-100 of your contributions up to a certain amount, your debt would need to be close to 50-100 interest in order for it to make sense to pausebrbrSay you get a 4 match on 60k per year That's you contributing $2400 pre-tax dollars to get $2400 matched, for a total of $4800 in retirement funding at the end of the year BEFORE any growth of the portfoliobrbrIf you instead pause the match for that year, you will increase your debt paying power by $1700 (the money will hit your pocket post-tax) and save yourself interest on that extra $1700 So something on the order of $1700*112 (for 12 interest debt), so about $1900 (but in reality less than this because you'd be paying an extra 1700 stretched out over a year)brbrSo the question in that scenario is would you rather save $200 in interest or use the same money before tax to make $2400 (12x more)?
Comment from : billy936

This is terrible advice Her employer is offering the 4 match So it’s not 2k that she’d be losing but 6kThat’s free money that she’ll be forgoing Instead spend less, contribute to your 401k, and pay off debt 🤦🏻‍♀️
Comment from : Irena D

Its blasey ford
Comment from : Water English

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
Comment from : Donstarnutinwonbenutin Uhh

With my upward inflection?
Comment from : Crispy line Slim

This lady🤦🏻‍♂️ Work some overtime Pick up a PRN nurse job if there’s no overtime Pay off the debt!
Comment from : Kenobi

She's clueless Sounds like she learned nothing at FPU
Comment from : Mantis Toboggan MD

Well mmmhh, welll 😅
Comment from : Ana Broom

That little girl voicealways concerning
Comment from : agreen182

her monthly after-tax income is about $8200 per month (CA specific estimate from Smart Assets) even if rent/mortgage is $3000/month she should be able to apply $2000-3000 month towards debt and pay it all off in a year
Comment from : Cerebral Caustic

Even even if she wasn’t working extra she would still make over 100, 000 dollars 🤦🏽‍♀️
Comment from : Handmaid Tale

Dave Ramsey is brutal and honest love it
Comment from : Carl Snell

The comments on here kill me I’m sorry, but I’m going to be blunt for a minute All the people saying don’t stop investing while you’re in debt are broke Guarantee they’re deeply in debt, but they have a financial opinion There’s a reason dave suggests what he suggests His plan works better than yours How many people have YOU gotten out of debt? Exactly
Comment from : Mike

I had to listen to this twice, I thought it had to be a prank call
Comment from : Zero Cool

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 brbrShe can afford to do both
Comment from : Tony B

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,
Comment from : sickbasterd123

Baby steps 1-7, keys to success! Why do people think they get a free pass to skip the order?
Comment from : Rick walker

This doesn’t make any sense My employer matches me 100 up to 6 of my year income Why in the world would I say no to that? I did the math and the interest I have to pay over 12 months for my student loans is less than the amount I make in profit off this RRSP n the investments I make within it And I can afford to keep paying towards the debt
Comment from : ABOVETHERIM

So make $150,000 but just laughs 😅😂 geez she needs to work on her behavior with money lol
Comment from : Julie Lemoe

There is an easy rule:brbrbPay all your high interest debt first/b
Comment from : Wolf of Dubai Stocks Investing Channel

Great example of how you take a,simple,situation and male it complicated
Comment from : Seymour Cake

My employer's 401k does a 4 match, and it vests immediately I will continue to contribute to my 401k for the match Dave Ramsy is wrong
Comment from : Reptar

I just ordered your book Dave Ramsey!! :)
Comment from : Seng S

Get to the point lady
Comment from : Raw Lee

She would also lose the free matching money in her retirement Even so she just needs to get it done
Comment from : Cooking Lessons for Dad

With her income she should have no problem paying off her debt quickly and still taking advantage of her employer 401k match free money
Comment from : Steve E

Interestingly, I find putting money in my 401k with employer match encouraging to pay off my debt, because I know I'm saving for my future
Comment from : Emhee Elmhorst

Can’t fix stupid
Comment from : johnny gladstone

I don't agree with dave If your employer matches it, that's free money, and time is money You'd be losing out on hundreds of thousands depending on how long it takes you to pay off your debt You don't need to put in much, but you need to put in it every month, even if it's only a couple hundred bucks
Comment from : Emhee Elmhorst

She must have gone to Sweet Valley High, like totally?
Comment from : Bill Gates killed my family with a syringe

Wow tony helped me get my credit card balance to zero I am simply amazed brText him on +1 ( 2–5–1–3–0–4–5—3–3—2)
Comment from : Jason Halloway

Dave Ramsey wants you to pay off all of your debt in one to two months by suffering dramatically at all costs Where do I sign up??
Comment from : Sammy C

You can do both, continue the 401k! Don’t throw away free money!
Comment from : Kevin Kuc

Makes 120k and she is complaining about paying 20k SMH People always make an excuse when they are being held accountable
Comment from : eemr84

You can’t tell a a Lilliputian what to do She is on her way to the land of OZ She’s following the yellow brick road
Comment from : Dipsomaniac

I don't agree If your employer matches 4 and you only have to put 4 you are better off matching!
Comment from : Daniel

Worst advice ever You definitely should contribute to 401k given that you have employer match
Comment from : 溜溜球忘憂石

She is 53 years old though Keep adding to your retirement and dont take Dave's quacky advice
Comment from : Opsec Classified

Jeez her voice is annoying
Comment from : Bryan Williams

This lady looking for any excuse to not pay off her debt 🤣
Comment from : Jose Aguilar

I hate her voice! She seems really stupid
Comment from : Nun yo bizness

Excuses all the way
Comment from : Jonathan Sanchez

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
Comment from : CannonClaude24

She's a $150k RN who can't comprehend basic math principles imagine her dosing patients 🤯
Comment from : Vinny T

My company gave 100 match for the 1st 6, combine that with lower tax bracket because 401k contributions are pretax It is much wiser to look at each situation case by than to have simple binary, yes or no answers
Comment from : Retired Manager

200000 with matching and compounding makes a pretty big difference when your 53 years old hmm not sure I agree with Dave on this one
Comment from : Margie K

I had to pay taxes when I stopped my 401k as well
Comment from : Cheryl Kimball

Beans and rice for you Mia
Comment from : Daddio

The tax advice is correct
Comment from : FRAME of MIND

I’m struggling with this I currently contribute 12 I’m willing to reduce it to 6 in order to receive my company’s match but to give up free money is dumb
Comment from : THE508

"we have joint custody" " I'm a single mother"
Comment from : Noah Christensen

She's 53contribute to your 401K even if it's only 1/2 You cannot get back that compound intrest no matter how much you save
Comment from : missyouhoo

How do you make 150k as a RN???
Comment from : Greg Pim

Kill me now!!!
Comment from : Young Jedi

a nurse 20k debt 150k annual salary,, thats a great life to most
Comment from : Calmer573

These people you have to be responsible for the debt you signed up for now go pay it off I make similar, and I could pay that off in 3 months
Comment from : Christopher Harrington

This is no brainer if you want to wipe out your debt and maintain your lifestyle at the same time Move out to Texas With your income, you must be paying over $10k for your state income tax Within 2 years out of CA, you can pay off your debt without doing anything But actually, as Dave says, don't try to shoot 2 birds with 2 stones at the same time
Comment from : Hector Camacho

She does not get it
Comment from : tdolz

OK this girl can’t be this stupid and making $150K a year My faith in nurses is now lacking
Comment from : C Castagno

I don’t agree with Dave at all here but that’s okay He also encourages almost everyone to get married without knowing the relationship and he says “kids don’t cost a lot of money” so he’s not right on everything I think to pass up at least a match from your employer would be absurd
Comment from : Morning Glory