How Much Should We Put In at 529?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 16 October 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Let's go to Beth in Seattle, Washington.
0:25.0	Beth, how can we help today?
0:26.0	Hi, I'm so excited to be talking with you.
0:29.0	Thanks for taking my call.
0:30.0	You bet.
0:31.0	We're excited to talk to you.
0:32.0	What is happening? I'm wondering if you
0:34.4	guys could help me think through a framework for deciding how much money I should
0:39.2	put into my kids 529 plans. I've been making some Ramsey tools but I'm getting stuck and I'm so
0:47.0	excited to talk to both of you because Jade I know you have young kids which is where I'm at and
0:51.7	can I know you have a really good pulse on this college
0:55.3	collegiate environment. Well tell us about the kiddies. Yeah so start with
0:59.6	tell us how old the kids are and what you've got saved or what you were thinking about saving.
1:05.1	Yeah, absolutely. Okay, so I have a four month old, a one and a half year old and a three and a half year old.
1:11.6	And right now we are just putting in a couple hundred dollars a month for each kid into their 529.
1:20.0	But my husband has like quarterly stocks at best so in the future we want to put
1:29.4	something bigger and I've heard Dave tell folks like, hey, if you have some money sitting around, you know, an initial investment of 50K can sometimes do the trick, but when I've used the Ramsey calculator online,
1:43.2	it's telling me to put in more than that.
1:45.6	And Ken, I've also heard you say
1:47.4	that the landscape for college
	...

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