The 3 habits that hurt retirement planning


CUSTOMS AND BORDER PROTECTION.>>>. DAGEN: NEARLY THREE IN 10 AMERICAN ADULTS DO NOT HAVE ANY EMERGENCY SAVINGS, AND FEW HAVE MORE THAN A COUPLE OF MONTHS OF FUNDS SAVED UP JOINING ME NOW RAMSEY SOLUTIONS FINANCIAL EXPERT AUTHOR OF EVERYDAY MILLIONAIRES CHRIS HOGAN FIX IT FOR ME.>>DAGEN FIRST THING ACKNOWLEDGE SAVINGS DOESN’T HAPPEN BY ITSELF WE HAVE TO GET INTENTIONAL 78% AMERICANS LIVING PAYCHECK TO PAYCHECK IF A CHECK DOESN’T SHOW UP THEY HAVE A SITUATION 64% COULDN’T AFFORD TO 500 DOLLAR EMERGENCY WE’VE GOT A SAVINGS CRISIS BUT PEOPLE NEED TO GET INTENTIONAL IT CAN BE FIXED.>>THIS IS IMPORTANT, TOO, BECAUSE, YOUR SURVEY SAYS MILLENNIALS AND I THINK IT GEN XKSERS BELIEVE A RECESSION IS COMING OR ALREADY IN ONE IF YOU BELIEVE THAT YOU NEED SAVINGS HOW DO YOU GET YOUR SAVINGS BUILT UP IN A FAST MANNER.>>LINDSEY LISTEN I READ THIS STUFF ALL THE TIME I DON’T HAVE A CRYSTAL BALL I AM NOT GOING TO SUBSCRIBE TO PANIC WHAT I AM GOING TO DO IS BE INTENTIONAL BEST WAY START TO BUDGET BUDGETING MEANS TELL MONEY WHERE TO GO INSTEAD OF WONDERING WHERE IT WENT YOU START TO BE IN CONTROL OF YOUR MONEY NEXT ATTACK DEBT WHEN YOU GET DEBT OUT OF YOUR LIFE YOU ACTUALLY GIVE YOURSELF A RAISE AND THEN YOU CAN START TO BUILD UP THAT CUSHION OF SAVINGS.>>SEVERAL HABITATS EMBANK RETIREMENT SAVINGS CHRIS TELL US ABOUT THOSE, WALK US THROUGH THEM.>>WELL WE HAVE TO REMEMBER DAGEN FIRST AND FOREMOST RETIREMENT IS NOT AGE IT IS A FINANCIAL NUMBER PEOPLE HAVE TO BE INTENTIONAL BUT NEED POOEB INDICATIVE SUMMERTIME PEOPLE ARE HAPPY EXCITED CAN’T BUY SIMPLY BECAUSE THEY ARE ON SALE NEEDED TO BE CAREFUL IF ON SALE YOU ALLOW TOURS GET OFF TRACK IF YOU DON’T STICK TO A PLAN THE NEXT THING YOU HAVE TO BY A ATTENTION TO THE LITTLE THINGS, I AM TALKING ABOUT THE SUBSCRIPTIONS WE DON’T USE ANYWHERE SMALL DOLLAR AMOUNTS FOR FANCY COFFEE EACH MONTH BE INTENTIONAL THERE, AND DON’T SPEND MONEY JUST BECAUSE YOU HAVE IT. I WANT YOU TO BE INTENTIONAL ABOUT YOUR FUTURE, REMEMBER, YOUR RETIREMENT THINGS DON’T HAPPEN BECAUSE YOU WANT THEM THEY HAPPEN BECAUSE YOU WORK TOWARDS THEM.>>THIS IS JACK BREWER, AT WHAT TIMES ARE DEBT A GOOD OPTION YOU KNOW BEING REALISTIC SOME PEOPLE GET IN A CRUNCH NEED TO BORROW CASH A GOOD FINANCIAL DECISION WHEN WOULD YOU SUGGEST YOU USE THAT.>>JACK I ONLY SEE DEBT AS OPTION IF YOU ARE BUYING A MORTGAGE THAT IS A 15-YEAR FIXED-RATE MORNING BUT ONLY AFTER OUT OF DEBT YOU’VE GOT AN EMERGENCY SAVINGS, LISTEN, I LEARNED HOW TO TELL LONG TIME AGO WHEN I USED SOMEONE ELSE’S MONEY THEY CHARGED A PENALTY IN UNIFORM OF INTEREST I DON’T WANT TO BE CHARGING A PENALTY I, A TO BE REWARDED REMAIN ALLERGIC TO DEBT BILLED UP SAIFRGS VEST FOR THE FUTURE.>>YOU KNOW WHO YOU CAN BORROW FROM YOURSELF THROUGH 401(k) PLAN.>>DAGEN, NO, NO. I KNEW YOU WERE GOING TO DO THAT.>>DO NOT TOUCH 401(K) WHEN YOU DO THAT YOU STOP MONEY FROM THE GROWING TAP UNCLE SAM ON SHOULDER.>>NO THE PENALTY IF YOU GO TO EMPLOYER SAY I NEED A DOWN PAYMENT FOR A HOUSE, I DON’T HAVE ANY DEBT, BUT I HAVE ALL THIS MONEY SITTING IN A 401(K) I CAN BORROW I CAN BORROW FROM IT AND YOU HAVE TO REPAY IT BACK YOU HAVE TO PAY IT BACK, AND JUST DEDUCT THAT OUT OF YOUR PAYCHECK –>>THE PROBLEM WITH THAT DAGEN IF SOMEONE LOSSES OR LEAVES THAT JOB THAT LOAN IS DUE AND PAYABLE WITHIN 90 DAYS YOU HE HAD A MORE STRESS GO TO WORKSAFE UP FOR A DOWN PAYMENT

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