Should We Use the 529 for Private School or Wait for College?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 21 April 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by Smart Vester.
0:07.0	You're listening to Ramsey everyday millionaires,
0:12.0	where we talk investing, retirement, building wealth,
0:15.0	and outrageous generosity.
0:17.0	Peter is with us in Columbus, Ohio,
0:20.0	Hi, Peter, welcome to the Ramsey show.
0:22.0	Hey, good afternoon, gentlemen.
0:24.0	Thanks for the time today.
0:25.0	Sure. How can we help?
0:27.0	I have a question for you.
0:29.0	So my wife and I are on baby set 4, 5, and 6.
0:32.0	We recently bought our first house as a family.
0:35.0	We put down about 300.
0:37.0	So we only have about 100 left on it.
0:40.0	We have 30,000 in a 529 and we make household income
0:46.0	about 110 a year.
0:48.0	We currently pay about 12,000 a year in daycare.
0:52.0	And we're looking at sending our son to private school.
0:58.0	And we figured tuition is probably going to be roughly
1:01.0	what we pay in daycare today.
1:03.0	Kicker is we're older parents.
1:06.0	I'm 50.
	...

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