A Comprehensive Guide to the Ultimate Education Account a.k.a the Coverdell Educational Savings Account RPF0106
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 20 November 2014
⏱️ 151 minutes
🧾️ Download transcript
Summary
Today, we take a look at one of the most misunderstood and underutilized accounts in your tax-planning aresenal.
The Coverdell Education Savings Account can be incredibly useful as a tool for you to pay for:
- elementary school expenses
- secondary school expenses
- homeschool expenses (in some states)
- college expenses
- vocational school expenses
- and more!
Perhaps more importantly, there are very few things you can't use as an investment in the account. You can choose to invest in:
- real estate
- notes
- tax liens
- companies
- precious metals
- etc.
But what about the income limitations? Meaningless. You can circumvent them so easily they're utterly meaningless.
This account is constantly criticized as being useless. Check out my discussion of the details and see if it deserves the criticism.
Enjoy!
Joshua
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Transcript
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| 0:00.0 | Hey Radicals, this is Joshua Sheets. |
| 0:01.6 | Real quick, before we begin, I just finished recording today's show. |
| 0:04.3 | It's an epic. |
| 0:04.9 | It's two and a half hours long, |
| 0:06.2 | as you'll hear in just a moment. |
| 0:07.3 | And it's about the topic of the Coverdell Educational Savings |
| 0:10.8 | Account. |
| 0:11.3 | But I felt I needed to come back here and just give you a bit of a reason to listen. |
| 0:14.9 | Would you like to pay for your kids homeschool expenses with tax-free money, tax-free growth? |
| 0:23.0 | Would you like to pay for your 16 year old's iPad |
| 0:27.5 | with tax free money? |
| 0:29.5 | Would you like to provide for your disabled child without dealing with some of the restrictions of setting |
| 0:36.7 | up a trust? |
| 0:38.0 | Would you like to be in a situation where you can invest in real estate for the purpose of your child's education |
| 0:45.8 | and pay for that and get all tax-free money coming off of that real estate |
| 0:49.7 | when paying for your child's education. Would you like to pay and invest for your child's education |
| 0:56.5 | with buying it by buying and selling options |
| 0:59.3 | or trading in precious metals, maybe gold coins, or that type of thing. |
| 1:05.4 | That's what today's show is about. |
| 1:07.3 | And I want you to really give this a shot, because many of you are going to find some ways |
| 1:11.2 | to save a lot of money in today's show. |
| 1:14.8 | Would you like to have, I mean, there's some really great planning deals in this situation. |
... |
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