Why Is a 529 Better Than a Brokerage Account?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 18 June 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, Anthony ONeal and John Delony.

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	Benders in Washington, DC, Andrew, how are you?
0:18.0	Good day, how are you?
0:20.2	Better than I deserve, what's up?
0:23.2	So we've been working to plan for three years.
0:27.2	We paid off just under $100,000 in debt, and the next two years spent saving up and
0:33.3	obviously doing the emergency fund, and we did the 3B.
0:36.8	We saved almost 200,000.
0:37.8	We put down one in a house, then we have our emergency fund in place.
0:42.2	Great.
0:43.2	So we're looking to kind of do the 4, 5, and 6.
0:45.6	Perfect.
0:46.6	Now, 15% got that, that's great.
0:50.3	We'll start in less than an in retirement.
0:52.6	Now, the question I have is, the 529 should I do that, or a separate broker's account that's
1:01.2	not a traditional 529 specifically with our income, and then we don't know if our kids
1:06.4	are or are not going to go to college.
1:09.8	Okay.
1:10.8	Well, what is your household income?
1:17.2	So right now it's a little over 200, but kind of projected to go up.
1:22.9	Well, to start with, no one knows that their kids are going to go to college, but we're
	...

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