Should I Invest 15% Like Dave Ramsey Recommends? (I Have a Pension)

Should I Invest 15% Like Dave Ramsey Recommends? (I Have a Pension) Take Your Finances to the Next Level ➡️ Subscribe now: Download FREE Financial Resources from the show ➡️ Sign up for the Financial Order of Operations course ➡️ Download The Money Guy Net Worth Tool ➡️ Our professional focus is on financial planning and investment management, and we leverage our knowledge for your benefit. We help you focus on the things you can control and manage the things you can’t. Visit our site for more info ➡️ Facebook: Instagram: Twitter: TikTok: Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! We can’t wait to see you accomplish your goals and reach financial freedom! New shows every week on YouTube and your favorite podcast app. Thanks for coming along on the journey with us....(read more)

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As someone who has a pension, you may wonder if you should follow Dave Ramsey's recommendation to invest 15% of your income in retirement accounts. While this is a good rule of thumb for many people, it may not work for everyone. Here are some factors to consider when deciding how much to invest in retirement. First, consider the details of your pension plan. What is the payout structure? Will you receive a fixed amount each month, or will your payments be based on your salary and years of service? Will your spouse or dependents be eligible for benefits after you die? Understanding these details will help you estimate how much income you will have in retirement and how much more you may need to save. Next, evaluate your other sources of income and assets. Do you own a home or other property that could provide income or equity? Will you receive Social Security benefits or other government pensions? Do you have investments, stocks, or other assets that could appreciate in value? These factors will affect how much you need to save to maintain your standard of living in retirement. Once you have a good understanding of your income sources and needs, you can set a savings goal that makes sense for your situation. If your pension will cover most of your expenses, you may not need to save as much as someone who has no guaranteed income in retirement. On the other hand, if you have significant gaps in your coverage, you may need to save more than 15% of your income to build a comfortable nest egg. It's also important to consider your debt and other financial goals when deciding how much to save for retirement. If you are carrying high-interest debt, such as credit card balances or personal loans, you may want to prioritize paying those down before increasing your retirement contributions. Similarly, if you have other financial goals, such as saving for your children's education or a down payment on a home, you may need to balance those priorities with your retirement savings. Ultimately, the decision of how much to save for retirement is a personal one that depends on your unique circumstances. While Dave Ramsey's 15% recommendation is a good starting point, it may not be the right choice for everyone. Take the time to evaluate your pension, other income sources, and financial goals, and work with a financial advisor to create a plan that will help you achieve your retirement dreams. https://inflationprotection.org/should-i-invest-15-like-dave-ramsey-recommends-i-have-a-pension/?feed_id=76665&_unique_id=6407af5e426a2 #Inflation #Retirement #GoldIRA #Wealth #Investing #budget #buystock #buyinghouse #cash #compoundinterest #creditcard #debt #howtomakemoney #insurance #moneyguyshow #personalfinance #realestate #save #ShouldIInvest15LikeDaveRamseyRecommends #success #RetirementAnnuity #budget #buystock #buyinghouse #cash #compoundinterest #creditcard #debt #howtomakemoney #insurance #moneyguyshow #personalfinance #realestate #save #ShouldIInvest15LikeDaveRamseyRecommends #success