Ep #06: 401(k) and College Goals
Why should you watch out for those water cooler conversations you’re having at work? I’ll share the answer in this episode, as well as how to start thinking about funding the rising costs of education for our children. It’s so easy to get stuck in bad information when it comes to your 401(k) and in the education funding process, so don’t miss this episode!
You will hear about the uses of a 401(k) plan and the issues that pop up when they are not used correctly—or not used at all. I’ll also be discussing why you should use your 401(k) and how you can use it as strategically as possible. Listen in for important insight on college planning and what you need to understand now in order to be ready to send your kids to college.
Listen to the Full Episode:
What You’ll Learn in Today’s Episode:
What a 401(k) plan is and what it allows you to do.
Extra benefits that come with a 401(k).
The water cooler mistakes that people tend to make.
Other retirement savings options and how to switch up your 401(k).
How to start thinking about college or trade school as a parent.
How to know what path you want to be on when it comes to an education.
The key thing to understand about education savings vs. retirement savings.
Ideas Worth Sharing:
“You put money in and you never get to see it—which is a really good way to save.” - Stanley T. Funches
“Not putting in enough is the first mistake, and the second mistake is the short-term investment mentality.” - Stanley T. Funches
“If you don’t have excess cash flow today, then you’re going to have to create some.” - Stanley T. Funches
Resources Mentioned:
Stanley T. Funches: LinkedIn
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