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Should I Invest in an IRA or a 403(b) If I Already Have a Pension? · Becoming Financially Confident

• 0:37
  Have
• 0:37
  you
• 0:37
  ever
• 0:38
  felt
• 0:38
  unsure
• 0:39
  even
• 0:39
  when
• 0:39
  you're
• 0:40
  already
• 0:40
  doing
• 0:40
  something
• 0:41
  right?
• 0:42
  You've
• 0:42
  got
• 0:42
  a
• 0:42
  pension,
• 0:43
  you've
• 0:43
  been
• 0:43
  consistent
• 0:44
  and
• 0:45
  yet
• 0:45
  you're
• 0:45
  wondering,
• 0:46
  is
• 0:46
  there
• 0:46
  something
• 0:46
  more
• 0:47
  I
• 0:47
  should
• 0:47
  be
• 0:47
  doing?
• 0:48
  If
• 0:49
  you've
• 0:49
  been
• 0:49
  trying
• 0:49
  to
• 0:49
  make
• 0:49
  the
• 0:50
  next
• 0:50
  wise
• 0:50
  step
• 0:50
  without
• 0:51
  overcomplicating
• 0:52
  things,
• 0:53
  today
• 0:53
  we're
• 0:53
  going
• 0:53
  to
• 0:53
  help
• 0:54
  you
• 0:54
  simplify
• 0:54
  that
• 0:55
  decision.
• 1:16
  Hello,
• 1:16
  friend,
• 1:16
  Ralph
• 1:17
  Estep
• 1:17
  Jr.
• 1:18
  Here.
• 1:18
  Welcome
• 1:18
  to
• 1:19
  Financially
• 1:19
  Confident
• 1:20
  Christian,
• 1:20
  where
• 1:21
  every
• 1:21
  day
• 1:21
  my
• 1:22
  goal
• 1:22
  is
• 1:22
  to
• 1:22
  help
• 1:22
  you
• 1:22
  break
• 1:23
  that
• 1:23
  cycle
• 1:23
  of
• 1:23
  financial
• 1:24
  shame
• 1:24
  and
• 1:25
  live
• 1:25
  in
• 1:26
  confidence.
• 1:27
  And
• 1:27
  I
• 1:27
  got
• 1:27
  a
• 1:27
  listener
• 1:28
  question
• 1:28
  today.
• 1:29
  It's
• 1:29
  a
• 1:29
  very
• 1:29
  specific
• 1:30
  question,
• 1:31
  but
• 1:31
  it
• 1:31
  is
• 1:31
  a
• 1:31
  great
• 1:32
  one.
• 1:33
  Should
• 1:33
  I
• 1:33
  invest
• 1:33
  in
• 1:34
  an
• 1:34
  IRA
• 1:34
  or
• 1:35
  a
• 1:35
  403B
• 1:36
  if
• 1:36
  I
• 1:36
  already
• 1:37
  have
• 1:37
  a
• 1:37
  pension?
• 1:38
  Well,
• 1:38
  let's
• 1:38
  get
• 1:39
  right
• 1:39
  into
• 1:39
  that
• 1:39
  question.
• 1:40
  Question
• 1:41
  is
• 1:41
  this.
• 1:41
  Hello
• 1:41
  Ralph.
• 1:42
  I'm
• 1:42
  in
• 1:42
  my
• 1:43
  mid-30s
• 1:44
  and
• 1:44
  I
• 1:44
  work
• 1:44
  for
• 1:45
  a
• 1:45
  state
• 1:45
  agency
• 1:45
  that
• 1:46
  offers
• 1:46
  a
• 1:46
  pension.
• 1:47
  I'm
• 1:48
  vested
• 1:48
  and
• 1:49
  they
• 1:49
  take
• 1:49
  about
• 1:49
  10%
• 1:50
  of
• 1:50
  my
• 1:50
  pay.
• 1:51
  I
• 1:51
  don't
• 1:51
  contribute
• 1:52
  to
• 1:52
  Social
• 1:52
  Security.
• 1:53
  If
• 1:54
  I
• 1:54
  stay,
• 1:54
  I
• 1:55
  can
• 1:55
  retire
• 1:55
  before
• 1:56
  age
• 1:56
  60
• 1:57
  and
• 1:57
  receive
• 1:57
  about
• 1:58
  75
• 1:58
  to
• 1:59
  80%
• 1:59
  of
• 1:59
  my
• 2:00
  final
• 2:00
  salary.
• 2:01
  That
• 2:02
  said,
• 2:02
  I
• 2:02
  want
• 2:02
  to
• 2:03
  be
• 2:03
  more
• 2:03
  comfortable
• 2:03
  in
• 2:03
  retirement.
• 2:05
  My
• 2:05
  work
• 2:05
  offers
• 2:05
  a
• 2:06
  403B
• 2:07
  with
• 2:07
  no
• 2:07
  match.
• 2:07
  But
• 2:08
  I'm
• 2:08
  wondering
• 2:09
  if
• 2:09
  I
• 2:09
  should
• 2:09
  use
• 2:10
  that
• 2:10
  or
• 2:10
  open
• 2:11
  my
• 2:11
  own
• 2:11
  ira.
• 2:13
  What
• 2:13
  are
• 2:13
  the
• 2:13
  pros
• 2:14
  and
• 2:14
  cons
• 2:14
  of
• 2:15
  each?
• 2:17
  Great
• 2:17
  question,
• 2:18
  but
• 2:18
  first
• 2:19
  I
• 2:19
  want
• 2:19
  to
• 2:19
  recognize
• 2:19
  something
• 2:20
  important.
• 2:21
  You
• 2:21
  have
• 2:21
  already
• 2:22
  built
• 2:22
  a
• 2:22
  strong
• 2:22
  foundation.
• 2:24
  A
• 2:24
  lot
• 2:24
  of
• 2:24
  people
• 2:25
  don't
• 2:25
  even
• 2:25
  have
• 2:25
  the
• 2:26
  benefit
• 2:26
  that
• 2:26
  you
• 2:27
  have.
• 2:27
  Those
• 2:27
  ideas
• 2:28
  of
• 2:28
  pensions
• 2:29
  are
• 2:29
  sort
• 2:29
  of
• 2:29
  going
• 2:29
  by
• 2:30
  the
• 2:30
  wayside.
• 2:30
  But
• 2:31
  you're
• 2:31
  working
• 2:31
  for
• 2:31
  a
• 2:31
  state
• 2:32
  agency
• 2:32
  that
• 2:32
  has
• 2:33
  it.
• 2:33
  So
• 2:33
  you've
• 2:33
  already
• 2:34
  built
• 2:34
  a
• 2:34
  strong
• 2:34
  foundation.
• 2:36
  Think
• 2:36
  about
• 2:36
  it
• 2:36
  like
• 2:36
  this.
• 2:37
  You
• 2:37
  already
• 2:37
  know
• 2:38
  you've
• 2:38
  got
• 2:39
  something
• 2:39
  that
• 2:39
  if
• 2:39
  you
• 2:39
  stay
• 2:40
  there,
• 2:40
  the
• 2:40
  rest
• 2:40
  of
• 2:40
  your
• 2:41
  working
• 2:41
  days
• 2:41
  will
• 2:41
  give
• 2:42
  you
• 2:42
  75
• 2:43
  per
• 2:43
  80%
• 2:43
  of
• 2:44
  your
• 2:44
  income.
• 2:44
  That's
• 2:45
  huge.
• 2:45
  That's
• 2:45
  significant.
• 2:47
  So
• 2:47
  in
• 2:47
  so
• 2:48
  many
• 2:48
  ways
• 2:48
  this
• 2:48
  isn't
• 2:49
  about
• 2:49
  catching
• 2:49
  up.
• 2:49
  And
• 2:49
  I
• 2:50
  looked
• 2:50
  at
• 2:50
  your
• 2:50
  age,
• 2:50
  I'm
• 2:50
  like
• 2:50
  30.
• 2:51
  This
• 2:51
  is
• 2:51
  fantastic.
• 2:52
  But
• 2:52
  what
• 2:53
  you're
• 2:53
  really
• 2:53
  trying
• 2:53
  to
• 2:53
  do
• 2:54
  is
• 2:54
  build
• 2:54
  on
• 2:55
  what's
• 2:55
  already
• 2:55
  working.
• 2:57
  So
• 2:57
  here's
• 2:57
  my
• 2:57
  big
• 2:57
  idea
• 2:58
  for
• 2:58
  today.
• 2:58
  When
• 2:59
  you've
• 2:59
  already
• 2:59
  got
• 2:59
  a
• 3:00
  pension,
• 3:01
  additional
• 3:01
  investing
• 3:02
  is
• 3:02
  about
• 3:02
  flexibility,
• 3:03
  not
• 3:04
  just
• 3:04
  accumulation.
• 3:04
  That's
• 3:05
  what
• 3:05
  we're
• 3:05
  really
• 3:05
  talking
• 3:05
  about
• 3:06
  here
• 3:06
  is
• 3:06
  how
• 3:06
  can
• 3:07
  I
• 3:07
  build
• 3:07
  some
• 3:07
  margin?
• 3:08
  How
• 3:08
  can
• 3:08
  I
• 3:08
  build
• 3:09
  some
• 3:09
  flexibility?
• 3:10
  But
• 3:10
  how
• 3:11
  do
• 3:11
  we
• 3:11
  make
• 3:11
  this
• 3:11
  decision?
• 3:12
  First
• 3:12
  thing
• 3:12
  you've
• 3:12
  got
• 3:12
  to
• 3:13
  do
• 3:13
  is
• 3:13
  you've
• 3:13
  got
• 3:13
  to
• 3:13
  understand
• 3:14
  what
• 3:14
  your
• 3:15
  pension
• 3:15
  already
• 3:16
  provides.
• 3:17
  Your
• 3:17
  pension
• 3:18
  is
• 3:18
  doing
• 3:18
  something
• 3:19
  powerful.
• 3:20
  It's
• 3:20
  amazing,
• 3:21
  actually.
• 3:22
  It's
• 3:23
  going
• 3:23
  to
• 3:23
  give
• 3:23
  you
• 3:23
  predictable
• 3:24
  income,
• 3:25
  long
• 3:25
  term
• 3:26
  stability
• 3:26
  and
• 3:27
  reduced
• 3:27
  Reliance
• 3:28
  on
• 3:28
  market
• 3:28
  performance.
• 3:29
  That's
• 3:29
  the
• 3:29
  beauty
• 3:30
  of
• 3:30
  your
• 3:30
  pension.
• 3:31
  No
• 3:31
  matter
• 3:31
  what
• 3:31
  the
• 3:31
  market
• 3:32
  does,
• 3:32
  you've
• 3:32
  got
• 3:33
  75
• 3:33
  to
• 3:34
  80%
• 3:34
  of
• 3:35
  your
• 3:35
  income
• 3:35
  set
• 3:36
  aside.
• 3:36
  You
• 3:36
  don't
• 3:37
  worry
• 3:37
  about
• 3:37
  the
• 3:37
  market.
• 3:38
  What
• 3:38
  that
• 3:39
  means
• 3:39
  for
• 3:39
  you
• 3:39
  in
• 3:39
  a
• 3:39
  practical
• 3:40
  way
• 3:40
  is
• 3:41
  your
• 3:41
  basics
• 3:42
  in
• 3:42
  retirement
• 3:43
  are
• 3:43
  already
• 3:44
  covered
• 3:45
  and
• 3:45
  that
• 3:45
  changes
• 3:46
  how
• 3:46
  you
• 3:46
  invest
• 3:46
  things.
• 3:47
  So
• 3:47
  start
• 3:47
  off
• 3:47
  by
• 3:47
  understanding
• 3:48
  what
• 3:48
  you
• 3:48
  have.
• 3:48
  This
• 3:49
  is
• 3:49
  a,
• 3:49
  trust
• 3:49
  me,
• 3:50
  this
• 3:50
  is
• 3:50
  a
• 3:50
  great
• 3:51
  place
• 3:51
  to
• 3:51
  start.
• 3:53
  But
• 3:53
  the
• 3:53
  second
• 3:53
  thing
• 3:53
  you've
• 3:53
  got
• 3:54
  to
• 3:54
  start
• 3:54
  thinking
• 3:54
  about
• 3:55
  is
• 3:55
  you've
• 3:55
  got
• 3:55
  to
• 3:55
  clarify
• 3:56
  what
• 3:56
  your
• 3:56
  additional
• 3:57
  investing
• 3:58
  is
• 3:58
  for.
• 3:59
  You
• 3:59
  mentioned
• 3:59
  to
• 3:59
  me,
• 4:00
  Ralph,
• 4:00
  I
• 4:00
  want
• 4:00
  to
• 4:00
  do
• 4:00
  something
• 4:01
  else.
• 4:02
  First
• 4:02
  of
• 4:02
  all,
• 4:02
  you're
• 4:03
  not
• 4:03
  investing
• 4:03
  to
• 4:04
  survive
• 4:04
  retirement.
• 4:05
  You've
• 4:06
  already
• 4:06
  got
• 4:06
  that
• 4:06
  survival
• 4:07
  number.
• 4:07
  Yeah,
• 4:08
  you
• 4:08
  meant
• 4:08
  to
• 4:08
  trim
• 4:08
  your
• 4:09
  income,
• 4:09
  trim
• 4:09
  your
• 4:09
  expenses
• 4:10
  a
• 4:10
  little
• 4:10
  bit,
• 4:11
  live
• 4:11
  a
• 4:11
  little
• 4:11
  bit
• 4:11
  more
• 4:11
  frugally.
• 4:12
  But
• 4:12
  this
• 4:12
  isn't
• 4:13
  about
• 4:13
  survival.
• 4:14
  What
• 4:14
  you're
• 4:14
  really
• 4:15
  trying
• 4:15
  to
• 4:15
  do
• 4:15
  is
• 4:16
  increase
• 4:16
  your
• 4:16
  flexibility.
• 4:17
  And
• 4:17
  listen,
• 4:17
  none
• 4:18
  of
• 4:18
  the
• 4:18
  things
• 4:18
  I'm
• 4:18
  talking
• 4:18
  about
• 4:19
  are
• 4:19
  bad
• 4:19
  things.
• 4:19
  These
• 4:19
  are
• 4:19
  all
• 4:20
  positive
• 4:20
  things.
• 4:21
  You
• 4:21
  want
• 4:21
  to
• 4:22
  have
• 4:22
  more
• 4:22
  flexibility.
• 4:23
  You
• 4:23
  want
• 4:23
  to
• 4:23
  be
• 4:23
  able
• 4:24
  to
• 4:24
  handle
• 4:24
  those
• 4:24
  unexpected
• 4:25
  costs.
• 4:26
  You
• 4:26
  haven't
• 4:27
  said
• 4:27
  this,
• 4:27
  but
• 4:27
  my
• 4:27
  suspicion
• 4:28
  is
• 4:28
  you
• 4:28
  want
• 4:28
  to
• 4:29
  enjoy
• 4:29
  life
• 4:29
  more
• 4:29
  fully
• 4:31
  and
• 4:31
  you
• 4:31
  want
• 4:31
  to
• 4:31
  reduce
• 4:31
  financial
• 4:32
  stress
• 4:32
  later
• 4:33
  in
• 4:33
  your
• 4:33
  30s.
• 4:34
  This
• 4:34
  is
• 4:34
  beautiful.
• 4:35
  You're
• 4:36
  already
• 4:36
  looking
• 4:36
  ahead
• 4:36
  and
• 4:36
  you're
• 4:37
  going,
• 4:37
  you
• 4:37
  know
• 4:37
  what,
• 4:37
  Ralph,
• 4:37
  when
• 4:38
  I
• 4:38
  retire,
• 4:38
  I
• 4:39
  don't
• 4:39
  want
• 4:39
  to
• 4:39
  feel
• 4:39
  like
• 4:40
  I've
• 4:40
  got
• 4:40
  to.
• 4:40
  And
• 4:41
  maybe
• 4:41
  you
• 4:41
  come
• 4:41
  from
• 4:42
  a
• 4:42
  place
• 4:42
  where
• 4:42
  maybe
• 4:43
  your
• 4:43
  grandparents
• 4:43
  or
• 4:44
  maybe
• 4:44
  even
• 4:44
  your
• 4:44
  parents
• 4:45
  are
• 4:45
  struggling
• 4:45
  and
• 4:46
  you
• 4:46
  see
• 4:46
  how
• 4:46
  people,
• 4:47
  as
• 4:47
  they
• 4:47
  get
• 4:47
  older
• 4:48
  on
• 4:48
  that
• 4:48
  we
• 4:48
  call
• 4:48
  that
• 4:49
  fixed
• 4:49
  income,
• 4:50
  are
• 4:50
  struggling.
• 4:51
  So
• 4:51
  first
• 4:51
  of
• 4:52
  all,
• 4:52
  this
• 4:52
  isn't
• 4:52
  about
• 4:52
  margin
• 4:53
  for
• 4:53
  you.
• 4:53
  This
• 4:53
  is
• 4:53
  not
• 4:53
  just
• 4:54
  more
• 4:54
  money.
• 4:54
  This
• 4:55
  is
• 4:55
  flexibility.
• 4:56
  But
• 4:56
  let's
• 4:57
  get
• 4:57
  into
• 4:57
  the
• 4:57
  nuances
• 4:58
  of
• 4:58
  what
• 4:58
  you're
• 4:58
  talking
• 4:58
  about.
• 4:59
  We
• 4:59
  need
• 4:59
  to
• 5:00
  take
• 5:00
  a
• 5:00
  minute
• 5:00
  and
• 5:00
  understand
• 5:01
  the
• 5:01
  difference
• 5:02
  between
• 5:02
  a
• 5:02
  403
• 5:03
  and
• 5:03
  an
• 5:03
  IRA.
• 5:05
  So
• 5:05
  you've
• 5:05
  already
• 5:05
  said
• 5:05
  you're
• 5:06
  covered
• 5:06
  by
• 5:06
  a
• 5:06
  pension
• 5:07
  that
• 5:07
  is
• 5:07
  100%
• 5:08
  funded
• 5:08
  by
• 5:08
  the
• 5:09
  company.
• 5:09
  They're
• 5:09
  taking
• 5:09
  the
• 5:10
  money
• 5:10
  from
• 5:10
  you.
• 5:10
  Let
• 5:10
  me
• 5:11
  simplify
• 5:11
  it.
• 5:12
  A
• 5:12
  403
• 5:13
  is
• 5:13
  a
• 5:13
  lot
• 5:13
  like
• 5:14
  a
• 5:14
  401.
• 5:15
  It's
• 5:15
  a
• 5:15
  payroll
• 5:16
  deduction.
• 5:16
  It
• 5:17
  gives
• 5:17
  you
• 5:17
  higher
• 5:17
  income,
• 5:18
  higher
• 5:18
  contribution
• 5:19
  limits.
• 5:20
  It's
• 5:20
  convenient
• 5:21
  and
• 5:21
  automatic.
• 5:22
  You
• 5:22
  basically
• 5:22
  say
• 5:22
  to
• 5:23
  your
• 5:23
  HR
• 5:23
  person,
• 5:24
  I,
• 5:24
  I
• 5:24
  want
• 5:24
  to
• 5:24
  put
• 5:25
  X
• 5:25
  dollars
• 5:25
  into
• 5:25
  403.
• 5:26
  It's
• 5:27
  a
• 5:27
  fantastic
• 5:28
  thing.
• 5:29
  But
• 5:29
  remember,
• 5:29
  there
• 5:30
  might
• 5:30
  be
• 5:30
  limited
• 5:30
  investment
• 5:31
  choices
• 5:31
  because
• 5:31
  this
• 5:32
  is
• 5:32
  again,
• 5:32
  being
• 5:33
  operated
• 5:33
  by
• 5:34
  the
• 5:34
  company
• 5:34
  or
• 5:34
  the
• 5:35
  state
• 5:35
  where
• 5:35
  you
• 5:35
  work.
• 5:36
  But
• 5:36
  it's
• 5:36
  super
• 5:36
  simple.
• 5:37
  You
• 5:37
  just
• 5:37
  say
• 5:37
  to
• 5:37
  hr,
• 5:38
  take
• 5:38
  this
• 5:38
  much
• 5:38
  out
• 5:38
  and
• 5:39
  you
• 5:39
  just
• 5:39
  watch
• 5:39
  it
• 5:39
  grow.
• 5:40
  Now,
• 5:40
  an
• 5:40
  IRA,
• 5:41
  on
• 5:41
  the
• 5:41
  other
• 5:41
  Hand,
• 5:42
  it
• 5:42
  gives
• 5:42
  you
• 5:42
  more
• 5:43
  control
• 5:43
  over
• 5:43
  your
• 5:43
  investments.
• 5:44
  You
• 5:44
  can
• 5:44
  decide,
• 5:44
  hey,
• 5:45
  this
• 5:45
  is
• 5:45
  what
• 5:45
  I
• 5:45
  want
• 5:45
  to
• 5:45
  invest
• 5:46
  in.
• 5:46
  A
• 5:46
  lot
• 5:46
  of
• 5:47
  times
• 5:47
  there's
• 5:47
  lower
• 5:47
  fees
• 5:48
  and
• 5:48
  there's
• 5:48
  flexible
• 5:49
  provider
• 5:50
  options
• 5:50
  for
• 5:50
  that.
• 5:52
  Either
• 5:52
  one
• 5:53
  of
• 5:53
  these
• 5:53
  is
• 5:53
  not
• 5:53
  going
• 5:53
  to
• 5:54
  be
• 5:54
  an
• 5:54
  employer
• 5:54
  match
• 5:54
  thing.
• 5:55
  So
• 5:56
  it's
• 5:56
  not
• 5:56
  about,
• 5:56
  well,
• 5:57
  am
• 5:57
  I
• 5:57
  leaving
• 5:57
  money
• 5:57
  on
• 5:57
  the
• 5:58
  table,
• 5:58
  Ralph,
• 5:58
  if
• 5:58
  I
• 5:58
  don't
• 5:58
  do
• 5:59
  this?
• 5:59
  That's
• 5:59
  not
• 5:59
  this
• 5:59
  situation.
• 6:00
  The
• 6:01
  decision
• 6:01
  here
• 6:01
  becomes
• 6:02
  about
• 6:02
  convenience
• 6:03
  or
• 6:03
  control.
• 6:05
  So
• 6:05
  think
• 6:05
  about
• 6:05
  access
• 6:06
  and
• 6:06
  flexibility.
• 6:07
  And
• 6:07
  this
• 6:07
  matters
• 6:08
  more
• 6:08
  than
• 6:08
  people
• 6:08
  realize.
• 6:10
  An
• 6:10
  IRA
• 6:11
  often
• 6:11
  gives
• 6:11
  you
• 6:12
  broader
• 6:12
  investment
• 6:13
  choices.
• 6:13
  Like
• 6:13
  I
• 6:13
  said,
• 6:13
  I've
• 6:14
  got
• 6:14
  clients
• 6:14
  that
• 6:14
  have
• 6:15
  self
• 6:15
  directed
• 6:16
  IRAs.
• 6:16
  They
• 6:16
  invest
• 6:16
  in
• 6:17
  gold
• 6:17
  and
• 6:17
  silver
• 6:18
  apartment
• 6:18
  buildings,
• 6:19
  Smith
• 6:19
  businesses.
• 6:20
  You
• 6:20
  can't
• 6:21
  do
• 6:21
  that
• 6:21
  with
• 6:21
  a
• 6:21
  403B.
• 6:22
  The
• 6:22
  other
• 6:23
  benefit
• 6:23
  to
• 6:23
  the
• 6:23
  IRA,
• 6:24
  it's
• 6:24
  easier
• 6:24
  to
• 6:25
  access,
• 6:25
  it's
• 6:25
  easier
• 6:26
  to
• 6:26
  manage.
• 6:27
  And
• 6:27
  honestly,
• 6:27
  it
• 6:27
  gives
• 6:28
  you
• 6:28
  more
• 6:28
  flexibility
• 6:29
  over
• 6:29
  time,
• 6:30
  but
• 6:30
  you
• 6:30
  might
• 6:30
  not
• 6:31
  be
• 6:31
  able
• 6:31
  to
• 6:31
  put
• 6:31
  as
• 6:31
  much
• 6:31
  into
• 6:31
  it.
• 6:32
  Whereas
• 6:32
  the
• 6:33
  403B,
• 6:34
  it's
• 6:34
  super
• 6:34
  simple.
• 6:35
  You
• 6:36
  don't
• 6:36
  even
• 6:36
  notice
• 6:36
  it.
• 6:36
  It
• 6:37
  just
• 6:37
  handled
• 6:37
  by
• 6:38
  HR
• 6:38
  and
• 6:39
  it
• 6:39
  builds
• 6:39
  that
• 6:39
  consistently,
• 6:40
  automatically.
• 6:41
  That
• 6:41
  consistency
• 6:42
  is
• 6:42
  built
• 6:42
  automatically.
• 6:43
  That's
• 6:43
  why
• 6:43
  I
• 6:43
  love
• 6:43
  403bs
• 6:44
  or
• 6:44
  401ks,
• 6:45
  because
• 6:45
  you
• 6:45
  kind
• 6:46
  of
• 6:46
  set
• 6:46
  it
• 6:46
  and
• 6:46
  forget
• 6:46
  it.
• 6:47
  But
• 6:48
  neither
• 6:48
  of
• 6:48
  these
• 6:48
  options
• 6:48
  is
• 6:49
  wrong.
• 6:50
  It
• 6:50
  really
• 6:50
  depends
• 6:51
  on
• 6:51
  how
• 6:51
  you
• 6:51
  manage
• 6:52
  money
• 6:52
  best.
• 6:53
  But
• 6:54
  you
• 6:54
  got
• 6:54
  to
• 6:54
  keep
• 6:54
  things
• 6:55
  simple
• 6:55
  and
• 6:55
  sustainable.
• 6:56
  Here's
• 6:57
  what
• 6:57
  I
• 6:57
  want
• 6:57
  you
• 6:57
  to
• 6:57
  do
• 6:58
  because
• 6:58
  I
• 6:58
  think
• 6:58
  you
• 6:59
  can
• 6:59
  overthink
• 6:59
  this.
• 7:00
  And
• 7:01
  so
• 7:01
  many
• 7:01
  people
• 7:01
  overthink
• 7:02
  financial
• 7:03
  decisions
• 7:04
  to
• 7:04
  the
• 7:04
  point
• 7:04
  of
• 7:04
  inaction.
• 7:05
  I
• 7:05
  call
• 7:05
  it
• 7:05
  analysis
• 7:06
  or
• 7:06
  paralysis
• 7:07
  through
• 7:07
  analysis.
• 7:08
  I've
• 7:09
  got
• 7:09
  so
• 7:09
  many
• 7:09
  clients,
• 7:10
  they've
• 7:11
  got
• 7:11
  this
• 7:11
  spreadsheet
• 7:11
  and
• 7:12
  this
• 7:12
  spreadsheet
• 7:12
  and
• 7:12
  what
• 7:13
  do
• 7:13
  I
• 7:13
  do
• 7:13
  and
• 7:13
  what.
• 7:14
  Both
• 7:14
  options
• 7:15
  here,
• 7:15
  if
• 7:16
  done
• 7:16
  consistently,
• 7:17
  will
• 7:17
  move
• 7:18
  you
• 7:18
  forward.
• 7:18
  They
• 7:18
  just
• 7:19
  will.
• 7:20
  You
• 7:20
  could
• 7:20
  start
• 7:20
  with
• 7:20
  an
• 7:21
  IRA
• 7:21
  for
• 7:21
  flexibility
• 7:22
  and
• 7:22
  use
• 7:22
  the
• 7:23
  403.
• 7:23
  Now
• 7:23
  you
• 7:24
  can't
• 7:24
  do
• 7:24
  both.
• 7:24
  That's
• 7:25
  the
• 7:25
  thing
• 7:25
  you've
• 7:25
  got
• 7:25
  to
• 7:25
  understand.
• 7:26
  You
• 7:26
  got
• 7:26
  to
• 7:26
  make
• 7:26
  a
• 7:26
  decision
• 7:27
  here.
• 7:27
  If
• 7:28
  you're
• 7:28
  covered
• 7:28
  by
• 7:28
  the
• 7:28
  403
• 7:29
  plan,
• 7:30
  a
• 7:30
  real
• 7:30
  practical
• 7:31
  thing,
• 7:31
  your
• 7:31
  employer's
• 7:32
  going
• 7:32
  to
• 7:32
  mark
• 7:32
  a
• 7:32
  box
• 7:32
  on
• 7:33
  the
• 7:33
  W2,
• 7:33
  which
• 7:33
  means
• 7:33
  you're
• 7:34
  not
• 7:34
  eligible
• 7:35
  to
• 7:35
  take
• 7:35
  a
• 7:35
  tax
• 7:35
  deductible
• 7:36
  ira.
• 7:36
  So
• 7:37
  you
• 7:37
  got
• 7:37
  to
• 7:37
  make
• 7:37
  a
• 7:37
  decision.
• 7:38
  But
• 7:38
  the
• 7:39
  key
• 7:39
  isn't
• 7:39
  choosing
• 7:40
  perfection
• 7:40
  here,
• 7:41
  it's
• 7:41
  choosing
• 7:42
  what
• 7:42
  works
• 7:42
  for
• 7:43
  you
• 7:43
  and
• 7:43
  it's
• 7:44
  choosing
• 7:44
  what
• 7:44
  you're
• 7:45
  going
• 7:45
  to
• 7:45
  stay
• 7:45
  consistent
• 7:45
  with
• 7:46
  what
• 7:46
  works
• 7:46
  for
• 7:46
  you.
• 7:46
  Might
• 7:47
  not
• 7:47
  work
• 7:47
  for
• 7:47
  somebody
• 7:47
  else.
• 7:48
  But
• 7:48
  I
• 7:48
  want
• 7:48
  to
• 7:48
  take
• 7:48
  this
• 7:48
  a
• 7:49
  little
• 7:49
  deeper
• 7:50
  because
• 7:50
  even
• 7:51
  these
• 7:51
  good
• 7:51
  decisions,
• 7:52
  and
• 7:52
  listen,
• 7:52
  you've
• 7:53
  got
• 7:53
  two
• 7:53
  decisions
• 7:53
  which
• 7:54
  are
• 7:54
  both
• 7:54
  great
• 7:54
  decisions,
• 7:56
  even
• 7:56
  making
• 7:56
  good
• 7:57
  decisions
• 7:57
  can
• 7:58
  feel
• 7:58
  heavy.
• 7:59
  I
• 7:59
  sense
• 8:00
  that
• 8:00
  from
• 8:00
  your
• 8:01
  tone
• 8:01
  of
• 8:02
  your
• 8:02
  message.
• 8:03
  You
• 8:03
  want
• 8:03
  to
• 8:04
  do
• 8:04
  this
• 8:04
  right.
• 8:05
  You
• 8:05
  want
• 8:05
  to
• 8:05
  make
• 8:06
  the
• 8:06
  best
• 8:06
  financial
• 8:06
  choice.
• 8:07
  You
• 8:07
  want
• 8:07
  to
• 8:07
  make
• 8:07
  wise
• 8:08
  choices.
• 8:09
  But
• 8:09
  here's
• 8:09
  the
• 8:09
  thing
• 8:09
  I
• 8:10
  want
• 8:10
  you
• 8:10
  to
• 8:10
  hear.
• 8:11
  God's
• 8:11
  not
• 8:11
  measuring
• 8:12
  you
• 8:12
  by
• 8:12
  perfection
• 8:13
  optimization.
• 8:14
  I
• 8:15
  think
• 8:15
  a
• 8:15
  lot
• 8:15
  of
• 8:15
  people
• 8:15
  get
• 8:15
  stuck
• 8:16
  on
• 8:16
  this.
• 8:16
  Well,
• 8:16
  I
• 8:16
  better
• 8:16
  do
• 8:16
  it
• 8:16
  right
• 8:17
  because
• 8:17
  God
• 8:17
  said
• 8:18
  he's
• 8:18
  going
• 8:18
  to
• 8:18
  provide
• 8:18
  for
• 8:18
  me,
• 8:18
  but
• 8:19
  I
• 8:19
  got
• 8:19
  to
• 8:19
  make
• 8:19
  sure
• 8:19
  it's
• 8:20
  right.
• 8:21
  God
• 8:21
  honors
• 8:22
  faithfulness.
• 8:24
  So
• 8:24
  just
• 8:24
  remember
• 8:24
  that
• 8:25
  even
• 8:25
  in
• 8:25
  decisions
• 8:26
  like
• 8:26
  this,
• 8:27
  be
• 8:28
  faithful.
• 8:29
  So
• 8:29
  just
• 8:30
  look
• 8:30
  to
• 8:30
  God
• 8:30
  right
• 8:30
  now
• 8:30
  and
• 8:30
  say,
• 8:30
  lord,
• 8:31
  maybe
• 8:31
  guide
• 8:31
  my
• 8:32
  steps
• 8:32
  in
• 8:32
  this.
• 8:33
  Help
• 8:33
  me
• 8:34
  move
• 8:34
  forward
• 8:34
  with
• 8:34
  wisdom
• 8:35
  and
• 8:35
  peace.
• 8:35
  Because
• 8:35
  that's
• 8:36
  the
• 8:36
  two
• 8:36
  things
• 8:36
  you're
• 8:36
  really
• 8:36
  looking
• 8:37
  for.
• 8:37
  You
• 8:37
  want
• 8:37
  wisdom
• 8:38
  and.
• 8:38
  And
• 8:38
  you
• 8:39
  want
• 8:39
  peace
• 8:40
  because
• 8:41
  you're
• 8:41
  not
• 8:41
  behind
• 8:42
  in
• 8:42
  what
• 8:42
  you're
• 8:42
  doing.
• 8:42
  You
• 8:43
  are
• 8:43
  so
• 8:43
  far
• 8:44
  ahead
• 8:44
  of
• 8:44
  so
• 8:44
  many
• 8:45
  people,
• 8:46
  but
• 8:46
  you're
• 8:47
  building
• 8:47
  wisely
• 8:47
  on
• 8:48
  what
• 8:48
  you
• 8:48
  already
• 8:48
  have.
• 8:48
  And
• 8:49
  listen,
• 8:49
  I
• 8:49
  encourage
• 8:50
  you.
• 8:50
  This
• 8:50
  is
• 8:50
  a
• 8:50
  great
• 8:50
  thing
• 8:51
  to
• 8:51
  do.
• 8:51
  So
• 8:52
  here's
• 8:52
  your
• 8:52
  win
• 8:52
  for
• 8:52
  today.
• 8:53
  I
• 8:54
  want
• 8:54
  you
• 8:54
  to
• 8:54
  choose
• 8:54
  your
• 8:55
  starting
• 8:55
  point
• 8:55
  in
• 8:55
  your
• 8:56
  life.
• 8:57
  Make
• 8:57
  that
• 8:57
  decision.
• 8:58
  I'm
• 8:58
  opening
• 8:58
  and
• 8:59
  I'm
• 8:59
  funding
• 8:59
  a
• 8:59
  blank
• 9:00
  to
• 9:00
  begin
• 9:00
  additional
• 9:01
  flexibility.
• 9:02
  You
• 9:02
  can
• 9:02
  do
• 9:02
  the
• 9:02
  4.3B,
• 9:03
  you
• 9:03
  can
• 9:03
  do
• 9:04
  the
• 9:04
  Iraq,
• 9:05
  you
• 9:05
  can
• 9:05
  do
• 9:05
  neither.
• 9:06
  And
• 9:06
  do
• 9:06
  some
• 9:07
  after
• 9:07
  tax
• 9:07
  investment.
• 9:08
  There's
• 9:08
  some
• 9:08
  tax
• 9:08
  nuances
• 9:09
  to
• 9:09
  this.
• 9:09
  I
• 9:09
  love
• 9:10
  the
• 9:10
  403B
• 9:11
  because
• 9:11
  it's
• 9:11
  going
• 9:11
  to
• 9:11
  reduce
• 9:11
  your
• 9:12
  taxable
• 9:12
  income,
• 9:12
  which
• 9:12
  is
• 9:12
  going
• 9:13
  to
• 9:13
  save
• 9:13
  you
• 9:13
  money
• 9:13
  and
• 9:14
  it
• 9:14
  grows
• 9:14
  tax
• 9:15
  free.
• 9:16
  But
• 9:16
  just
• 9:16
  decide
• 9:16
  what
• 9:17
  you're
• 9:17
  going
• 9:17
  to
• 9:17
  do.
• 9:18
  Take
• 9:18
  that
• 9:18
  action.
• 9:19
  There
• 9:19
  is
• 9:19
  no
• 9:19
  wrong
• 9:20
  decision
• 9:20
  here.
• 9:21
  Create
• 9:22
  that
• 9:22
  movement
• 9:22
  because
• 9:23
  when
• 9:23
  you
• 9:23
  start
• 9:23
  to
• 9:24
  move
• 9:24
  forward,
• 9:24
  you
• 9:25
  create
• 9:25
  momentum
• 9:26
  in
• 9:26
  your
• 9:26
  life.
• 9:27
  Let's
• 9:28
  get
• 9:28
  to
• 9:28
  the
• 9:28
  Bible
• 9:28
  today.
• 9:29
  Let's
• 9:29
  go
• 9:29
  to
• 9:29
  the
• 9:30
  book
• 9:30
  of
• 9:30
  Proverbs,
• 9:30
  chapter
• 9:31
  21,
• 9:31
  verse
• 9:32
  5.
• 9:33
  I've
• 9:33
  used
• 9:33
  this
• 9:33
  on
• 9:34
  this
• 9:34
  show
• 9:34
  so
• 9:34
  many
• 9:34
  times
• 9:35
  I
• 9:35
  can't
• 9:35
  even
• 9:35
  count
• 9:35
  it
• 9:35
  on
• 9:36
  my
• 9:36
  fingers
• 9:36
  and
• 9:36
  toes.
• 9:37
  But
• 9:38
  it's
• 9:38
  super
• 9:38
  important.
• 9:39
  Again,
• 9:39
  Proverbs
• 9:40
  21:5.
• 9:41
  The
• 9:42
  plans
• 9:42
  of
• 9:42
  the
• 9:42
  diligent
• 9:43
  lead
• 9:43
  to
• 9:43
  profit
• 9:44
  as
• 9:44
  surely
• 9:44
  as
• 9:45
  haste
• 9:45
  leads
• 9:46
  to
• 9:46
  poverty.
• 9:47
  Why
• 9:47
  does
• 9:47
  this
• 9:48
  fit
• 9:48
  today?
• 9:49
  It
• 9:49
  fits
• 9:49
  because
• 9:50
  that
• 9:50
  steady,
• 9:51
  thoughtful
• 9:52
  investing
• 9:53
  done
• 9:53
  consistently
• 9:54
  leads
• 9:55
  to
• 9:55
  long
• 9:55
  term
• 9:55
  growth.
• 9:56
  And
• 9:56
  that's
• 9:56
  really
• 9:56
  what
• 9:56
  we're
• 9:56
  talking
• 9:57
  about
• 9:57
  here
• 9:57
  today.
• 9:57
  All
• 9:57
  the
• 9:58
  things
• 9:58
  you're
• 9:58
  talking
• 9:58
  about
• 9:58
  doing
• 9:59
  are
• 9:59
  leading
• 10:00
  to
• 10:00
  long
• 10:00
  term
• 10:01
  growth.
• 10:01
  You're
• 10:01
  making
• 10:02
  wise
• 10:02
  decisions
• 10:03
  and
• 10:03
  I
• 10:03
  applaud
• 10:04
  you
• 10:04
  for
• 10:04
  that.
• 10:05
  How
• 10:05
  about
• 10:05
  we
• 10:05
  pray
• 10:06
  together?
• 10:07
  Heavenly
• 10:07
  Father,
• 10:08
  I
• 10:08
  lift
• 10:09
  up
• 10:09
  my
• 10:09
  friend
• 10:09
  right
• 10:09
  now
• 10:10
  who's
• 10:10
  trying
• 10:10
  to
• 10:10
  make
• 10:10
  wise
• 10:11
  financial
• 10:11
  decisions.
• 10:13
  And
• 10:13
  Lord,
• 10:13
  you
• 10:13
  see
• 10:14
  their
• 10:14
  diligence,
• 10:15
  you
• 10:15
  see
• 10:15
  their
• 10:15
  desire
• 10:16
  to
• 10:16
  prepare
• 10:16
  well,
• 10:17
  even
• 10:17
  in
• 10:17
  their
• 10:17
  30s,
• 10:18
  which
• 10:18
  is
• 10:18
  beautiful.
• 10:19
  Lord,
• 10:20
  I
• 10:20
  just
• 10:20
  ask
• 10:20
  that
• 10:20
  you
• 10:20
  would
• 10:21
  give
• 10:21
  them
• 10:21
  clarity
• 10:22
  in
• 10:22
  how
• 10:23
  to
• 10:23
  move
• 10:23
  forward
• 10:23
  the
• 10:23
  right
• 10:24
  way
• 10:25
  right
• 10:25
  now.
• 10:25
  Remove
• 10:26
  that
• 10:26
  confusion
• 10:27
  and
• 10:27
  that
• 10:27
  overthinking
• 10:28
  that's
• 10:28
  burdening
• 10:28
  them
• 10:29
  and
• 10:29
  replace
• 10:30
  it
• 10:30
  with
• 10:30
  steady
• 10:30
  confidence
• 10:31
  in
• 10:31
  you,
• 10:31
  Lord.
• 10:32
  Help
• 10:32
  them
• 10:33
  to
• 10:33
  take
• 10:33
  action,
• 10:33
  to
• 10:34
  stay
• 10:34
  consistent
• 10:35
  and
• 10:35
  to
• 10:36
  trust
• 10:36
  you
• 10:36
  with
• 10:36
  the
• 10:36
  outcome.
• 10:38
  Remind
• 10:39
  them,
• 10:39
  Lord,
• 10:39
  they're
• 10:39
  already
• 10:39
  on
• 10:40
  a
• 10:40
  strong
• 10:40
  path
• 10:42
  and
• 10:42
  Lord,
• 10:42
  you're
• 10:42
  guiding
• 10:43
  them
• 10:43
  forward
• 10:43
  in
• 10:44
  each
• 10:44
  of
• 10:44
  those
• 10:44
  decisions.
• 10:45
  And
• 10:45
  I
• 10:45
  ask
• 10:45
  this
• 10:45
  in
• 10:46
  Jesus
• 10:46
  name.
• 10:48
  Amen,
• 10:50
  friend.
• 10:50
  You
• 10:50
  don't
• 10:50
  have
• 10:51
  to
• 10:51
  optimize
• 10:51
  everything.
• 10:53
  You
• 10:53
  just
• 10:53
  need
• 10:53
  to
• 10:53
  start
• 10:54
  doing
• 10:54
  something
• 10:55
  now.
• 10:56
  Maybe
• 10:56
  right
• 10:56
  now
• 10:57
  you're
• 10:57
  watching
• 10:57
  this
• 10:57
  or
• 10:58
  you're
• 10:58
  listening
• 10:58
  to
• 10:58
  this
• 10:59
  and
• 10:59
  you're
• 10:59
  trying
• 10:59
  to
• 11:00
  figure
• 11:00
  out
• 11:00
  your
• 11:00
  next
• 11:00
  step
• 11:01
  with
• 11:01
  whatever
• 11:01
  you're
• 11:01
  dealing
• 11:02
  with
• 11:02
  and
• 11:03
  you're
• 11:03
  trying
• 11:03
  not
• 11:03
  to
• 11:04
  over
• 11:04
  complicate
• 11:05
  things.
• 11:05
  I
• 11:06
  would
• 11:06
  love
• 11:06
  to
• 11:06
  help
• 11:06
  you
• 11:06
  on
• 11:06
  that
• 11:07
  journey.
• 11:07
  You
• 11:07
  can
• 11:07
  submit
• 11:08
  your
• 11:08
  question
• 11:08
  to
• 11:08
  me
• 11:11
  at
• 11:12
  financiallyconfidentchristian.com/question
• 11:13
  Maybe
• 11:14
  it's
• 11:14
  not
• 11:14
  a
• 11:14
  question.
• 11:14
  Maybe
• 11:15
  it's
• 11:15
  a
• 11:15
  triumph.
• 11:15
  Maybe
• 11:16
  you've
• 11:16
  listened
• 11:16
  to
• 11:16
  the
• 11:16
  show
• 11:16
  and
• 11:17
  you're
• 11:17
  like,
• 11:17
  ralph,
• 11:17
  man,
• 11:18
  I.
• 11:18
  I
• 11:18
  love
• 11:18
  what
• 11:18
  you
• 11:19
  said
• 11:19
  and
• 11:19
  here's
• 11:19
  what
• 11:19
  I
• 11:20
  did.
• 11:20
  I
• 11:20
  put
• 11:20
  this
• 11:20
  into
• 11:21
  practice.
• 11:22
  Tell
• 11:22
  me
• 11:22
  about
• 11:22
  where
• 11:22
  you're
• 11:23
  winning.
• 11:23
  Tell
• 11:23
  me
• 11:23
  about
• 11:23
  your
• 11:24
  struggles.
• 11:24
  It
• 11:24
  doesn't
• 11:25
  just
• 11:25
  have
• 11:25
  to
• 11:25
  be
• 11:25
  a
• 11:25
  question.
• 11:26
  I
• 11:26
  just
• 11:26
  love
• 11:26
  to
• 11:27
  hear
• 11:27
  from
• 11:27
  you.
• 11:27
  Feedback
• 11:28
  just
• 11:28
  feeds
• 11:28
  me
• 11:29
  and
• 11:29
  makes
• 11:29
  me
• 11:30
  want
• 11:30
  to
• 11:30
  come
• 11:30
  here
• 11:30
  and
• 11:30
  give
• 11:31
  you
• 11:31
  more
• 11:31
  great
• 11:31
  content.
• 11:32
  So
• 11:32
  again,
• 11:33
  share
• 11:33
  with
• 11:33
  me
• 11:33
  what
• 11:33
  you've
• 11:34
  got
• 11:34
  going
• 11:34
  on.
• 11:34
  Go
• 11:35
  to
• 11:35
  financiallyconfidentchristian.com/question
• 11:39
  I
• 11:39
  want
• 11:40
  to
• 11:40
  thank
• 11:40
  you
• 11:40
  for
• 11:40
  joining
• 11:40
  me
• 11:41
  today.
• 11:41
  I
• 11:41
  want
• 11:41
  to
• 11:41
  encourage
• 11:42
  you,
• 11:42
  be
• 11:43
  encouraged,
• 11:44
  stay
• 11:44
  financially
• 11:45
  savvy.
• 11:45
  May
• 11:46
  God
• 11:46
  bless
• 11:46
  you
• 11:46
  and
• 11:47
  you
• 11:47
  have
• 11:47
  a
• 11:47
  great
• 11:48
  day
• 11:48
  today.