555 - Dave Ramsey 8% rule - college 529 plans & 530A kids savings account

It's time for The Bill Ferguson Show.

[upbeat music]

This is Bill Ferguson, and you are listening to The Bill Ferguson Show.

This is episode 555.

I can hardly wait until I record an additional 111 episodes.

Just do the math.

It's, it's kind of fun.

This episode, two fun and interesting educational topics.

One is about Dave Ramsey, and apparently, I guess not apparently, he has said, I found the evidence, that he has talked about what he calls the 8% rule, and he thinks that everybody can take out 8% of their retirement portfolio every year, regardless of their age, and be just hunky-dory.

Short answer, he's full of shit, he's an incompetent idiot, and I'm gonna go over all the details of why that doesn't fucking work.

So that's one thing.

Uh, the other segment is on saving money for your kids, or giving money to your kids, or helping your kids out with different types of accounts.

Just a few example.

There's others that are not covered in this segment, 'cause it's a big fucking complicated world out there, but I primarily cover 529s and a new thing called the 530a.

And so I go over some of the pros and cons of that.

There's a lot to think about, a lot of ideas, a lot of ways to look at it, a lot of ways to spin it, a lot of rules, a lot of possible downsides, a lot of possible upsides, penalties, taxes, yada, yada, yada.

And I go over a whole bunch of that so that it can help you decide whether you wanna put money in 529, a 530a, which is a new type of account, ag- again, discussed in the segment, or in your own personal accounts for your own retirement.

So hang tight, we'll take a little break, and we'll get into the show.

It's time for The Bill Ferguson Show.

[upbeat music]

This is Bill Ferguson, and you are listening to The Bill Ferguson Show.

This is episode 555.

I can hardly wait until I record an additional 111 episodes.

Just do the math.

It's, it's kind of fun.

This episode, two fun and interesting educational topics.

One is about Dave Ramsey, and apparently, I guess not apparently, he has said, I found the evidence, that he has talked about what he calls the 8% rule, and he thinks that everybody can take out 8% of their retirement portfolio every year, regardless of their age, and be just hunky-dory.

Short answer, he's full of shit, he's an incompetent idiot, and I'm gonna go over all the details of why that doesn't fucking work.

So that's one thing.

Uh, the other segment is on saving money for your kids, or giving money to your kids, or helping your kids out with different types of accounts.

Just a few example.

There's others that are not covered in this segment, 'cause it's a big fucking complicated world out there, but I primarily cover 529s and a new thing called the 530a.

And so I go over some of the pros and cons of that.

There's a lot to think about, a lot of ideas, a lot of ways to look at it, a lot of ways to spin it, a lot of rules, a lot of possible downsides, a lot of possible upsides, penalties, taxes, yada, yada, yada.

And I go over a whole bunch of that so that it can help you decide whether you wanna put money in 529, a 530a, which is a new type of account, ag- again, discussed in the segment, or in your own personal accounts for your own retirement.

So hang tight, we'll take a little break, and we'll get into the show.