Discretionary Match for Retirement
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
17 min
4 speakers
3 chapters
transcribed 1 month ago
Transcript
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Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show. Welcome back. Ladies and gentlemen, you're listening to another edition of DIY Money. DIY Money. What's shaking, Logan? Shaking with you. Well, I am prepping to hop on a plane and go to warmer weather. Oh, really? This was preplanned. We're cutting this on a day where it's seven outside. I skated into your house to cut this video.
You skated.
Definitely skated. It is... thick inches of ice everywhere. It was pre-planned. I was going down to see a wonderful client who lives in Tampa, and then I will spend the weekend with a very good friend of mine down in Sarasota area. So I will be running along the Tampa Bay on Friday morning. And it will be hopefully 70 degrees here. Yeah, it'll be six. Yeah. Yeah. But I need it. I need the break. I need that. This is miserable weather here. I mean, absolutely miserable.
And I wouldn't want to be miserable.
And I, you know, I have I have a lot of Strava friends, a lot of DIY money friends that are on Strava. Uh, and it is amazing to me. I see them running in places like Michigan and I'm like, uh, and sometimes they're outside. I'm like, you are beast mode. I mean, I'll, I'll, I'll run in the temps, but when it's like packed snow and ice, I just no place to run. I mean, I don't, there's no trails that are open roads that are open. I mean, it's just terrible. Absolutely terrible.
So your neighborhood is like six inches of ice. They're not exactly clear in sidewalks.
No. And, and, you know, that's what keeps the kids out of school. Cause there's no bus that can get here. I mean, really what they need to propose and adopt AI to help with this is in my opinion is you, you, you know, segment the, the district into saying, okay, these are, you know, these are places that we know we can get to. And so that those buses are running and that's, those kids are coming to school here. Our designated bus stops. If you can get to there, uh, Uh, and then if you can't do any of that, you can do a non-traditional instruction on your computer. Instead, they just go up. It's an NTI day. And here we go. And I just think they need a, because this seems to be coming more and more and more.
We're on day nine of non-traditional instruction, not in this block. This block has been day four, but overall, since this winter began day nine of non-traditional, it's only January, but our school system, it was so good during COVID, uh, with the non-traditional online schooling that they don't have to add days. It's not a quote-unquote snow day. It's not like when I was growing up, it's like, oh, snow day, you don't do anything, which we got once in a blue moon. We've already talked about that.
I'm a grumpy old man. I don't like everything the way it is now compared to the way it used to be.
Other than that, man, life is good. Welcome to all the DIY Money listeners. I mean, we have just exploded this year. Had to have been the Texas Roadhouse photo on Instagram, I think.
Yeah, that was a really high quality photo.
The one that Allie did not like, but nonetheless was on there. If you're not following us on Instagram, hit us up at DIY Money Podcast. We're having a blast putting things like that up. We've got a blog going on the website. We need to be more intentional about that. There's so much to do. So much to do. So much to do. Not enough time. Anyways. All right. We've got a question today, which is a good one, actually. From Lucas. Lucas, what do you got? DIY!
Hi, DIY Money Crew. This is Lucas from Washington, D.C. I've got a question about 401k structures. I just started a new job and reviewing the benefits information. Instead of a straightforward match, they provide a discretionary match of less than 6%. How do discretionary matches work? How are they different from a typical match? And how should I approach this option relative to other options like a Roth IRA? Thanks for all the help and all the information that you provide.
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