Reader’s Question: Should You Pay Your Mortgage Off First or Invest for Retirement?

Understanding The Types Of Mortgages Available To Save You Money

Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. This one deals with whether you should pay your mortgage off first or invest for retirement. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured in an upcoming blog post. If you’re not familiar with Dave Ramsey’s book, you should run right out and get it. It is one of the best personal finance books that everyone should read. Now….on to our reader’s question. Should you follow Dave Ramsey’s baby steps to the letter? Or, can you switch … Read more

Reader’s Question: What To Invest In After The Company Match

What To Invest In After The Company Match
What To Invest In After The Company Match

Your 401k retirement plan is not an emergency fundHere is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on the blog.

If you’re not familiar with Dave Ramsey’s book, you should run right out and get it. It is one  of my top ten best personal finance books that everyone should read. Now….on to our reader’s question. I recently received an email from a reader, Ralph, who ask…

I’ve been investing more than my company’s match. So for instance if my401k company match is 5% and I invest 10%, is it better to continue or just invest the 5% that’ll get the match and invest the rest in a Roth IRA?

This is a great question that a lot of investors have to tackle when they are deciding where to put those finite investing dollars to work. You often can’t be everywhere at once.

So, the real question is where to start and where to go after you get going with your retirement investing. There are several things that you should consider in order to maximize your savings and minimize your tax liability as well.

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Dave Ramsey’s Baby Step Four – Invest 15% of Your Income for Retirement

Baby Step 4 - Save 15% Of Your Income For Retirement

The last week, I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover, and I have been dissecting each of his individual baby steps as well. The Total Money Makeover is a personal finance book that I highly recommend and one of the greatest personal finance books to read. Baby step 4 talks about investing for your retirement. Today, we will look at Baby Step 4 in more detail which is to invest 15% of your income for retirement. There are seven Dave Ramsey baby steps that you should follow in order that will lead you to financial peace. Dave Ramsey’s baby steps are… Baby Step 1 – $1,000 Emergency FundBaby Step 2 – Pay Off All Of Your Debt With … Read more

Dave Ramsey’s Baby Step Three – Fully Funded Emergency Fund

Why you need an emergency fund

The other day I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover. There are seven baby steps that you should follow in order that will lead you to financial peace that he discusses in his book which is one of the Top Ten Personal Finance Books of all time that you should be reading. Today, we’re going to focus on baby step 3. Dave Ramsey’s baby steps are… Baby Step 1 – $1,000 Emergency FundBaby Step 2 – Pay Off All Of Your Debt With A Debt SnowballBaby Step 3 – Fully Fund Your Emergency FundBaby Step 4 – Save 15% of Your Income For RetirementBaby Step 5 – Save For Your Children’s College EducationBaby Step 6– Pay Off Your … Read more