Rachel Cruze

Welcome.

Well, hello, Mr. J. How can we help today?

Okay, yeah.

So normally, yes.

Okay, so what we would normally say is if you leave a job, you want to roll over your 401k just to a traditional IRA.

So you're keeping the investments.

You're just moving it out of the company's 401k versus basically what you did is you just sold it.

Yeah, and if the market was kind of low at the time, you may not have –

gotten you know fully what it was and probably paid some taxes and all of it so yeah because it was retirement funds yes yeah so um yeah you did get hit hard with some penalties so our rule of thumb with investing is did your 401k at your previous employer did it have a match built in uh yes it had about a four percent match four percent match okay perfect do you have a new job now with a 401k currently

Look at that.

Do you have any money saved, Jay?

OK.

Yeah.

So what I would probably do, Jay, is just pause all retirement and work to throw as much money at this nine thousand seven hundred dollars that you have left in debt and then start working to bump up that emergency funds.

You know, you have twenty five hundred and I know it's earmarked for a car, but I would just I would get three.

And you don't have a ton of expenses month to month, which is great.

So you could be on the three month side.

That could be your baby step three.

And then we can start looking at retirement, which will be 15 percent of your income into retirement.

So so like Jade said at the beginning of the call, the Roth, this is a picture I have.