Dave Ramsey's Baby Step #4 Explained - Invest 15% of Income into Retirement

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Comments

1. What if our job doesnt provide a 401k?
2. Great video! One question, if one spouse is working and the other is a caretaker at home is 15% sufficient retirement for both people?
3. Tai & Talaat, question: During baby steps #1 and #2, are we supposed to pause/stop our retirement contributions with our employers, and use those extra monies towards building the $1000 emergency fund and paying off debt? Then, restart the contributions?
4. You guys are awesome!!! I was wondering during which step do you begin savings for a home?
5. This was super encouraging. My other half just came on board with Dave's ideas as he's gotten angry at his own debt. It was a tough choice to let him wallow in it but as we're not married yet I kept trying to convince him that he needed to tackle it. Sadly he decided to borrow more money while I was in hospital having an operation and only recently came clean about it 3 months after the fact - I know why he did it and I wasn't going to yell at him, but he wept. For a very... non emotional guy it was his turning point. We sat down and watched the basics on the baby steps together and that night I put together a plan to tackle the money together and we've already funded our emergency fund by selling items around the house (nothing massive amazingly) and now we are tackling our baby step 2 which should take about 2 years to finish which isn't too bad considering our income is pretty low by UK standards. I luckily had taken FPU back in the USA while I lived there and I try to live by going debt free and if I don't have it, I can't spend it mentality.
   
   The hard part I'm finding is looking at information to make life work here in the UK coincide with Daves principles past baby step 3, so even though its going to take 2 years to finally get to our fully funded emergency fund, I know that this will be time well spent figuring out the financial system here as we don't have Roth IRA's and mutual funds aren't commonly talked about. Hopefully we can document our journey through this together to help others here in Britain but I have to say that you guys explained this step SO incredibly well.
   
   I'll definitely be showing my other half this when he comes home from work so we can start looking at different accounts for future reference so we don't walk into that baby step blindly and make some poor choices along the way. x
6. This is great! Thanks guys!!! Very clear, concise and helpful.
7. hi I'm just wondering if it is 15% + pension? my employer takes out about 450 biweekly gross income for my pension. Would that count?I just finished baby step 2 and I am half way to BS3 so Im looking forward to BS4.. thank you!!!
8. In Singapore, they have an aggressive retirement savings policy. Their Federal government mandates that approximately 40% of EVERY worker's gross monthly income, regardless of where they work, be invested into the market immediately (to grow their economy via massive venture capital and to ensure their aging population does not need any assistance later in life). Seems steep to me, but definitely admirable on at least some levels. :)
9. Love you guy!
10. I was a late investor what should someone at age 40 have in retirment?
11. What is the difference in 401k & 457. I currently have 457. Thanks for your time and these videos just keep em coming....Knowledge is Power!
12. Do you guys have Dave Ramsey as a sponsor now?
13. 16% + pension
14. I just paid my mortgage off and did my Dave Ramsey debt free scream. The video should be linked to my YT page. Anyway, I received the "Retire Inspired" book and I am going to read it and hopefully I will get a better understanding of how investing works.
    
    My company matches up to 7%. I had mine at 1% for the longest but changed it to zero temporarily to get my mortgage paid off faster. I changed it to 5% once I paid my mortgage off. Right now I am using my income to increase my emergency fund and update some things around my house. I'm thinking around 2017 I will be focusing on getting up to the 15%. By then I should have better knowledge on investing.🙂
15. Are you still paying off a mortgage during this step?
16. Q: Since you guys have been investing the way DR says for so long, are you seeing the 12% average returns on your mutual funds? I actually don't know where to ask you guys questions. Can you do a vlog about that also; ways to contact you guys? Only because you ask us questions too. Great vlog! Best wishes.
17. I am 21 years old, and I work for target. I have been contributing 5% to my 401k for 6 months now, and target matches 5%! I'm so glad I started doing it when I did.
18. Great video! I am currently investing 15% of my income. I am looking to invest more and I am looking to create more income streams.
19. Yes, I am saving for retirement.  I am maxing out.