The fire department pension suffers from one billion dollars. Dave Ramsey is immediately believed to be in Illinois, she was already left in Texas

When a personal finance expert Dave Ramsey I heard about an extinguishing management with a pension of more than a billion dollars in a lack of financing, and his first guess was Illinois. “It looks like Illinois or Chicago,” he said in a recent episode of “”Ramsey show“But when the joint host Ken Coleman He told him that the firefighters were already writing from Texas, and Ramsey was ground: “Where is the foolishness in Texas something that runs this badly?”

A firefighter named Brett had written to exchange his concerns. He said he loved his job, but he started wondering whether staying was worth it, given the financial state of his administration. “The city takes 13 % of my salary for a pension, and is suitable for this money,” Brett explained. “I have no opinion on how to manage or use money.”

Do not miss:

To finish the message, Brett asked: “I always dreamed of making my career here, but with a pension and some smaller problems, I left wondering if I was currently riding on a sunken ship.” He asked the show, “Is a bad pension his administration a good enough reason to look at the departure?”

Coleman said he was already tending to leave if the administration felt like a sunken ship. Ramsey agreed, adding that the situation is not only anxiety, as it is so Financially responsible To stay.

Ramsey said: “It is not the retirement that bothers me. It is 13 % of your income that makes you put it in something that decreases. This matters to me.” “In order to keep this function, you have to take 13 % of your income in the middle of the floor and burn it every week.”

Trending: 300 million dollars in assets and the Microsoft Climate Fund, Agricultural land LP It opens the third vital agricultural lands for accredited investors

He stressed that if Brett can invest the same 13 % in 401 (K), he can finally Become a millionaire. Instead, it is forced to contribute to something that does not even appear to be applied.

Ramsey said, “A billion is not interested?” “This seems to be a news story. This is a lot,” Coleman added.

Ramsay and Coleman concluded that Brett is likely to start searching for a different section. While it is painful to stay away from the function of dreams, staying may lead to long -term financial damage. Ramsey said: “Maybe you only move to a different extinguishing management, my feet. This is the thing,” Ramsey said.