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Ramsey column: People need to hear success stories

Dave Ramsey
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Telegram & Gazette

Dear Dave,

So many companies and entrepreneurs are hurting right now. With everything that’s going on in the world, I find myself ashamed to celebrate business successes. In the past, I’ve always shared highlights with our customers to show them how amazing they are and how much their support means. How can I navigate this time without making others feel bad?  

Alyssa

Dear Alyssa,

You know, in most cases people who ask this kind of question are already self-aware enough to celebrate their business success with grace and social awareness. You didn’t ask how to brag, you asked how you can still celebrate what’s going on in your business with your customers

You’re not firing shots at other people when you do something like this with the right heart and an attitude of gratitude and humility. You’re not talking about jumping around and yelling about how great you are while saying everyone else is a doofus. All you’re doing is letting people know what’s working and that you’re thankful for it - and them.

People need to hear success stories. They need to hear stories about winning, whether times are good or bad. It might actually inspire and encourage them. It’s good news!

Dave

Worried about college

Dear Dave,

My husband and I are about to start Baby Step 5. We want to save money for college to help our children, but we’re a little worried about starting a 529 plan and being penalized if we pull the money out for trade school or they don’t finish their studies. What do you think we should do?

Dani

Dear Dani,

You’d only be taxed on the growth, not what you put into the plan. And you’d be taxed on the growth anyway if you put it into something else, so there’s no reason not to go with a 529 plan

The truth is a 529 will work for a lot of trade schools. It may not be accepted if they do a straight-up apprenticeship, but it’s fine for a course of study at a vocational-technical school school.

Now, if you don’t use all of what’s in your 529 for education, the portion that goes unused will be taxed. You’ll want a chunk of cash sitting in your 529, enough to make a difference in their educational goals, but you don’t want to overfund it.

Dave

Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including "The Total Money Makeover." "The Dave Ramsey Show" is heard by more than 14 million listeners each week on 600 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.