Friend and freelance writer Les O’Dell shares this diary entry from the 1oth session of Financial Peace University, a 13-week course from national talk-show host Dave Ramsey.
A Sore Subject
Tonight’s Financial Peace lesson, “From Fruition to Tuition,” was somewhat painful for me. Designed to go with some of the later Baby Steps (after debt is eliminated), this lesson deals with funding your own retirement and college for your children. Baby Step 4 is investing 15 percent of your household income into Roth IRAs and other pre-tax retirement plans. If needed, Baby Step 5 is to be done at the same time. It is save for your children’s college using tax-favored plans.
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