The idea of using your Roth IRA for college savings has gained some recent attention. It is a benefit the Roth IRA offers that few knew about. But is the Roth IRA a better option than a 529 Plan?
I have my answer, but let’s look a few things first.
Why are people using their Roth IRA for college?
College is supposed to be completed in four years, right?
Well, not always. Parents often see their children blow right past the four-year mark and into their fifth, sometimes sixth year of college.
For parents who are trying to support their child through college, these “lap” years are expensive and frustrating. They can cost additional tens of thousands of dollars.
Parsonages are homes provided for pastors by their churches. You often see them sitting right alongside the church building. They are a benefit some churches provide that help compensate for a lower salary.
On a flight to St. Louis, I sat next to a pastor from North Carolina. We had a great time getting to know one another.
Toward the end of the flight, he told me what I should write about. “You need to write a post on how to transition from a parsonage to owning a home.”
What should leaders avoid saying? How do you earn trust? And how do you encourage young people to give in the church?
These questions and more are answered in this week’s My 5 for Friday.
Facebook can be dangerous for your wallet.
I enjoy checking in on my friends lives and providing a few updates of my own life. But I’ve noticed that something starts to happen if I spend too much time on Facebook.
I start comparing.
The same is probably true for you.
Leadership can be complex and hectic.
There is always something to think about. There is always something to do. Your time and attention are pushed and pulled in a variety of directions.
And while you are trying to do everything, you find yourself feeling like you are going nowhere, and that you are actually limiting your organization.