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Should I Contribute to My 401k or Pay Off Debt?

Should I Contribute to My 401k or Pay Off Debt?

FromBe Wealthy & Smart


Should I Contribute to My 401k or Pay Off Debt?

FromBe Wealthy & Smart

ratings:
Length:
8 minutes
Released:
Jun 26, 2019
Format:
Podcast episode

Description

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 style is to take cutting-edge information and make it easy to understand and implement the concepts. She gives you all the details about where bubbles are forming, how to invest, and specifically what to buy (with ticker symbols). To find out where wealth building opportunities are and apply for a strategy session with Linda, click here. PLEASE REVIEW THE SHOW ON ITUNES If you enjoyed this episode, please subscribe and leave a review. I love hearing from you! When you get to the next page, click the blue button “Listen in iTunes”, listen to an episode, and click on “Ratings and Reviews” across from my photo. I so appreciate it! REVIEW THE SHOW ON ANDROID Click here if you use Android and want to leave a review. I greatly appreciate it! SUBSCRIBE TO BE WEALTHY & SMART Click Here to Subscribe Via iTunes Click Here to Subscribe Via Stitcher on an Android Device Click Here to Subscribe Via RSS Feed WEALTH HEIRESS TV Please subscribe to Wealth Heiress TV YouTube channel (it’s not just for women, it’s for men too!), here. THE CONTEST IS BACK ON! You have a great chance to win 12 prizes in June! It’s easy to enter. Just leave a podcast or book review. A podcast review = your name entered into the drawing 1 time. A Wealth Heiress book review on Amazon = your name entered 1 time. A podcast + book review = your name entered in the drawing 3 times. Prizes are: 5 Sets of Wealthy Mindset Blueprint audios (value $197 ea.) 5 Wealth Heiress books, personalized by Linda. 2 winners will have a wealth mentoring session with Linda (value $500). Drawing will occur June 30, 2019 and will be announced on the following podcast. PLEASE LEAVE A BOOK REVIEW Leave a book review on Amazon here. Get my book, “You’re Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!” Men love it too! After all, you are Wealth Heirs. :) Available for purchase on Amazon. International buyers (if you live outside of the US) get my book here. WANT MORE FROM LINDA? Check out her programs. Join her on Instagram. LIBRARY OF PODCASTS Listen to the full library of podcasts from the beginning. Use the search bar in the upper right corner of the page to search topics. TODAY'S SPONSOR I want to take a few seconds to tell you about how I “read” more books and stay ahead of the curve. It’s by not reading books, but instead listening to them – like you are right now! With Audible, there are over 150,000 titles to choose from for your iPhone, Android, Kindle or mp3 player and…your first audiobook is FREE! I suggest you get the audio book of Think and Grow Rich, or you can check out my website Resources page where I list all of my favorite financial books and you see exactly what books I have read and recommend you read. Then get started with Audible by visiting https://lindapjones.com/FreeBook and order your first audio book free! Get Think and Grow Rich or another book from my recommend list, and be sure to get started checking
Released:
Jun 26, 2019
Format:
Podcast episode

Titles in the series (100)

Money, personal finance and financial freedom - get your money to work harder for you so you don't have to work so hard. Linda made $2 million at age 39 and shares actionable knowledge to create wealth in the stock market, real estate, and business. Discover a wealth mentor who shows you a direct path to security, stability and financial freedom. This podcast has a balanced view of how to enjoy life, it is not about frugality. It won't show you how to save a few dollars, it will show you how to save tens of thousands of dollars. Short episodes get to the point without fluff and give you valuable advice you can put to work immediately. Learn the 6 Steps to Wealth by starting with creating a wealthy mindset. Listen to one podcast and you may find yourself binge-listening to the entire library of knowledge. Be sure to subscribe so you don't miss an episode.