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Savings Account vs 529 vs the New Trump Account for a New Grandbaby
Season 9
Episode 256
Published 1 month, 2 weeks ago
Description
Join Ralph Estep Jr (licensed public accountant) & Juliet (not an accountant) as they dive into:
- What options are there saving for a grandchild (savings account, Trump Account, 529)
- Annual Notice of Change are being mailed out before September 30, and why it matters even if you're not the one on Medicare
- Why naming beneficiaries for your 401K and IRA + a story where a missing beneficiary name turned a 12% tax hit into 35%
- Dive into the Dollar Job Framework, starting with naming a real money dream, then breaking it down to actionable and digestible bites
- This week's money move: opening a high-yield savings account and setting up one automatic transfer
Tomorrow we're breaking down credit reports line by line, so pull yours free at annualcreditreport.com before the show.
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Links mentioned in this episode:
becomingfinanciallyconfident.com/lawdepot
becomingfinanciallyconfident.com/quicken
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