Be Wealthy & Smart | Money | Millionaire | Personal Finance | Invest | Stock Market | Mindset | Entrepreneur | Investing
Should I Contribute to My 401k or Pay Off Debt?
- Autor: Vários
- Narrador: Vários
- Editor: Podcast
- Duración: 0:08:23
- Mas informaciones
Informações:
Sinopsis
Learn the math behind this decision that makes the right answer obvious. Recently a question was asked on a financial page, "Should I still contribute up to the match to my 401k at work...if I'm in the process of trying to get out of debt?" I disagreed with an expert, find out why. The link to the article is here. Here's what I calculated: Contributes $5,000 per year for 3 years (age 27 - 30). Gets a 6% match annually, which is $300. $5,300 x 3 years @ 10% interest = $18,656. Compound that for 35 years @10% and it equals $521,721. INTERESTED IN THE BE WEALTHY & SMART VIP EXPERIENCE? In this monthly LIVE webinar with Linda, you’ll learn: Where you to invest right now to prepare to build wealth in the next bubble (that is quietly forming) Why billionaires are chomping at the bit to make their next fortunes, and you can too without having their money Why it doesn’t take a lot of money or investment experience to attain financial freedom Where fortunes may be made and how to make yours Linda’s teaching styl