2 minute read
DAVE Says Financial advice from Dave Ramsey
Hands off the 529
make about $100,000 combined from when we each got our masters’ degrees Our son is 6 years old, and we have $18,000
Advertisement
A: I wouldn’t do that if I were you You’ll get destroyed with penalties, because if you take money out of a 529 for anything other than college, you’ll be taxed at your current tax rate and hit with a 20% penalty The other thing is you’ll have this weird feeling that you took money away from your kid Technically, it’s your money You put it there But when you did, it was in your child’s name Plus, that doesn’t really solve your problem You’ve got a ridiculous amount of debt, and that little bit won’t move the needle very much Having more money in your hands isn’t the big answer here What you both need is a behavior change when it comes to money
My advice is to leave the 529 alone Stop adding to it for the time being Put any retirement saving you’re currently doing on hold, too You guys need to start living on a budget, working a debt snowball plan and looking for extra income Even tutoring would bring in some additional cash I’ve got a feeling, too, that those masters’ degrees can provide you with more money than you’re currently making It can be done, but it’s going to take a lot of hard work and discipline It may even take four or five years to get this mess cleaned up, but you can’t keep living without a plan!
Dave Ramsey is a prolific author and radio host For more financial advice from Dave, go to IBSA org
Training Oppor tunities Training Oppor tunities
Aug 23: TRANSFORM
Training for class and group leaders
Where: Parkway Baptist, Creve Coeur, Mo , 8 a m -2:30 p m
Cost: $25 per person
Web: www lifeway com/transform
Sept. 4, 18, 25: Prime Conferences on biblical manhood
Where: Sept. 4 Bread of Life, Chicago; Sept 18 Chatham Baptist; Sept 25 FBC Herrin; conferences begin at 6 p m
Web: www IBSA org/Evangelism
Sept. 6: Tri-State Music Conference
Where: NorthWoods Church, Evansville, IN
Cost: $10 per person Web: www scbi org
Sept. 13: Living Proof Live simulcast Beth Moore Bible study event for women
Where: IBSA Building, Springfield; 8:30 a m -3:15 p m
Cost: $10, includes lunch Web: www IBSA org/WomensMissions
Sept. 14-21: Mission Illinois Offering Web: www IBSA org/MIO
Sept 20: BCHFS Fall Festival
Where: Baptist Children’s Home and Family Services, Carmi
Contact: rhiannon storm@bchfs com
Sept 26: Youth Ministry Worker
Connection
For staff and volunteer leaders
Where: Marion-area restaurant
Contact: (217) 391-3127, JennaNickelson@IBSA org
Sept 27 & 29, Oct 11: Churches of Strength
Where: Sept. 27 Second, Marion, 8 a m to noon; Sept 29 Chatham Baptist, 6-9 p m ; Oct 11 Armitage, Chicago; 8 a m to noon Web: www IBSA org/cst
September 27: IBSA Church Library
Conference
Where: FBC Salem; 8 a m -2 p m
Cost: $20, includes lunch
Contact: DebbieMuller@IBSA org
Oct 3-4: Girls’ Missions Celebration
For girls in grades 1-6
Where: IBSA Building, Springfield
Cost: $15 per person
Contact: (217) 391-3138, BarbTroeger@IBSA org
Oct. 4: BCHFS Golf Scramble
Where: Green Hills Golf Club, Mt Vernon Contact: rhiannon storm@bchfs com
Oct 10-11: Disaster Relief Training
Where: Lake Sallateeska, Pinckneyville
Cost: Lodging, plus $30 for new trainees and $10 for renewals
Web: www IBSA org/dr; register by 9/26
Oct 16: Elevate Marriage Event
Prepare for the shifting culture
Where: IBSA Building, Springfield; 10 a m -2 p m
Contact: (217) 391-3124, CathyWaters@IBSA org
Oct 17-19: Illinois Changers
Missions-focused weekend for teens
Where: Lake Sallateeska, Pinckneyville
Cost: $25 per person
Contact: (217) 391-3138, BarbTroeger@IBSA org
Oct. 24-25: Marriage Retreat
Where: Lake Sallateeska, Pinckneyville
Contact: (217) 391-3127, JennaNickelson@IBSA org
Oct 24-25: Kids’ Ministry Toolkit
Featuring new resources and the 2015 VBS Preview
Where: IBSA Building, Springfield Contact: (217) 391-3124, CathyWaters@IBSA org
