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Baby steps five, six, and seven are similar and all require some planning to do them as effectively as possible. People are often working on these steps at the same time. So developing a plan of how much money you’re putting into each area and how are you investing it is an important part of these steps.
The fourth baby step from Dave Ramsey is to invest 15% of your household income into Roth IRAs and pre-tax retirement funds. This is the most important step (and the most exciting) but it also adds a great deal of complexity to the process. Gone are the days of simply creating a debt snowball in order to make progress on your financial plan.
Even baby steps begin with a first step, and the first baby step is to get $1000 stashed away as quickly as possible.