Once you have reached this part of the Dave Ramsey plan you are now instructed to invest 15% of your household income into ROTH IRAs and pre-tax retirement. We will not get into the pros and cons of various types of investing in this post, but instead of focusing on the amount. So, this will be a short one.
Investing money is a very important step in winning with money. It is a necessity to save money for your future if you ever plan on retiring. On the flip side, none of us have any idea what life will throw at us and we may not be one of the lucky ones who actually get to choose when to stop working.
We personally believe that you should save and invest as much money as you possibly can when you are able. Fifteen percent is an awesome goal, but there are many families out there that no matter how hard they try, there is just not enough money to put towards investing. But, in no way should they be discouraged! Something, anything is better than nothing.
On the other side, I had read numerous blogs that tell of people investing and saving up to 70% or more of their monthly income. I have to admit I am happy for them, amazed and to be honest, a bit jealous. Had we done this when we were first married, our lives would look VERY different then it does now. Again, we had no idea what life would hand us and we also had no idea how to handle money. It took years and years for us to learn about Dave Ramsey and his baby steps. But coming to the game late and having extenuating circumstances, it makes our choices more limited.
So our advice is to the very best you can with what you have available to you.