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Ask Dave

It Might Be Too Late!

Tammy's husband might lose out on the chance to do some investing and get a match if he waits. Does Dave think it's worth it?

QUESTION: Tammy is on Baby Step 2 and her husband is just getting a job after retiring from the Navy. His new company will match up to 6% in retirement savings if he starts contributing now, but that will drop if he waits. Should they skip straight to investing? Dave doesn’t think so, for one reason.

ANSWER: The probability is that during the time between now and retirement, they will change that rule. They will either match different, or not, or he may change jobs. The probability is that this isn’t a 15-year discussion. Stick with getting your debts cleaned up, and maybe sit down with a supervisor at work to see if you can get a waiver on this, so you can start it later.