Connor
Appearances
The Ramsey Show
Your Future Self Deserves Better Choices Today
Good, good. Hey, I just wanted to kind of get your opinion on what I should do to kind of build wealth for my future. Awesome. Let's hear your situation. Okay, so I'm 18 years old. I own a landscaping company. I bring in about 70 grand during the summer and then 30 to 35 during the winter. Um, my truck is completely paid off and that's about $23,000.
The Ramsey Show
Your Future Self Deserves Better Choices Today
I have a $20,000 camping trailer that I rent out. Um, and that is also paid off. I have a motorcycle that's paid off and then a bunch. Like I have more trailers and stuff like that, and everything's paid off. Goodness gracious.
The Ramsey Show
Your Future Self Deserves Better Choices Today
It's solo, but I do have a team for lawn care and stuff. And then I design the landscape projects.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah, just about that, give or take, depending on the year. It's gone up every year though. Amazing.
The Ramsey Show
Your Future Self Deserves Better Choices Today
I do, but I only have like, I only have a thousand bucks in it. So.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Gotcha. Okay. That's good to know. Yeah, that would be, that would be nice. And then another question, how do I start What's the best way that I can build credit? Because I still don't have a credit card yet.
The Ramsey Show
Your Future Self Deserves Better Choices Today
I was thinking like someday when I do want to buy a house.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Gotcha. Okay, that makes sense. That's good to know then.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Good. Good. So I have a question. Heading into the new year, I want to continue contributing to my retirement about 15%. My company offers 401k where I can contribute either pre-tax or Roth dollars into. And they contribute 12.5% annually. And they don't even offer a match. So they just flat out give 12.5%. I'll take that over a match, man.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yes. That's awesome. Very generous. And, um, you know, it's a great company, so I really enjoy working with them. So, um, my question is, should I go hard into that? Cause I can contribute, uh, Roth, uh, dollars into the 401k. Uh, I think what they contribute is pre-tax, but, uh,
The Ramsey Show
Your Future Self Deserves Better Choices Today
Should I go hard into that 401k with Roth or should I continue doing a Roth IRA where I'm trying to max that out each year?
The Ramsey Show
Your Future Self Deserves Better Choices Today
Okay. Gotcha. Yeah, because right now, I kind of dabbled in both. I have a Roth IRA with about $4,000 in it, which I can kind of use as an emergency fund, I guess.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah. I mean, that was the plan, too. Do you have any debt? No, I have no debt.
The Ramsey Show
Your Future Self Deserves Better Choices Today
I have a high-yield savings account with some money in there.
The Ramsey Show
Your Future Self Deserves Better Choices Today
All right. Well, thank you so much. Yeah. Thanks for the question. I was kind of debating between the two accounts. So thank you.