SHORT – You can’t do Dave Ramsey-ish with the Baby Steps

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Listener writes in stating he is currently doing Dave Ramsey. Has a loan out against his 401K which prohibits him from contributing to his retirement. He also states he will be contributing 10% to his 401K while he works on this debt which includes $300,000 mortgage, two vehicles totaling $40,000 in loans. Income is $110,000 and wants to begin taking Social Security at age 70. He is currently 51 years old. 

He goes on to break down his current 401K mix which has a balance of $194,000: 14% Vanguard, 86% Stable Value Fund. Profit Sharing balance of $55,000 and all of that is 100% in the Stable Value Fund.

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