What's the Difference Between a 529 and an ESA?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 29 September 2021

⏱️ 5 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, Christy Wright, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.2	Christie is with us in Asheville, North Carolina.
0:16.6	Hi, Christie, how are you?
0:18.2	Hey, very well, I'm good.
0:20.4	Thank you so much for taking my call.
0:22.4	Sure, what's up?
0:23.4	First, I wanted to say thank you because just go into your program, we are good for
0:29.9	you, including our home.
0:30.9	Yay!
0:31.9	Then thank you, yes.
0:33.2	So, we are doing step four and we're about to start step five.
0:38.9	Our daughter is seven years old and we're trying to decide between the five 29 or the
0:44.3	ESA and cataloging towards the ESA because by the time she's 18, that'll probably be enough
0:50.3	because we don't want to put too much in the paper to pay the...
0:54.9	So, just kind of want to do a opinion on the differences.
1:01.9	Okay.
1:02.9	All right.
1:03.9	Well, to clarify, if your home is paid for, you're a baby step seven.
1:08.2	And so now you're safe.
1:09.2	You're continuing to save for retirement, continuing to save for college, but this is all
1:14.4	just wealth building.
	...

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