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December 5, 2023 5 mins
Who better to discuss the best place to spend your money ahead of a tight holiday gitt giving season than State Treasurer Curtis Loftis. Take a listen and learn more here.

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(00:01):
This tell Me Something Good. Tuesdayedition of the Kelly Golden Show Podcast is
brought to you by Holy City HearingHere better now at Holycityhearing dot com.
Who better to talk about this?In the State Treasure Curtis loftis this Christmas?
If you can't eat it or itdoes it provide for you in some
way? You ain't getting it?And guess what, there's a way Future

(00:24):
scholar dot com. That's South Carolina'shome for the five twenty nine college Savings
Plan. But honestly, it's toughtough times, that's right. You know.
I don't because I'm the grumpy olduncle, and I don't buy presents
for kidsy more because I don't knowwhat kids want. And two they've guide
everything. You know, we justlive in the land of abundance, right,
So what we try to do iswe use this Future Scholar Savings program

(00:48):
for college. And it's not justcollege. You can pay private school tuition
for KP twelve, So it's handynow. And it's the tax is Vanda's
way to be able to save moneyfor yours. When you make that contribution,
it's tax deductible in your state taxforms. And then the money grows
state and federal tax free, andthen when you spend the money, it's

(01:11):
tax free, so it's a winwin, and it's a smart thing to
do, and it's a great wayto help your children, especially when you
look at the alternatives to going tocollege, such as spend the money or
private school, spend the money attech school, trade schools, community colleges,
things like that. It is ahuge step for the private school K
through twelve, tech and trade andall that stuff. Can this money be

(01:34):
used for home schooling? Treasurer Loftice, No, not yet, but I
sure would like to, and wejust can't do it because of the federal
guidelines, but we're working them.Because I'm very ancient homeschooling. I think
that's I wish that homeschooling was thestatus symbol, like owning a beach house
or a mountain house. It's areal sacrifice, but it's so important continuing

(01:55):
education is. And I think alot of people think young, right,
Well, it's not just young people. We have a lot of people who
close their small businesses. I meanthey're having to reinvent themselves in this economy,
that's right, And there's a lotof folks who have had a white
collar job, they realize they canmake a far more money and have more
discretion in their time. You knowthat they can free up time, they
can work two days a week,four days a week, whatever. By

(02:17):
taking blue collar jobs. You cango to tech schools and trade schools,
learn how to be a welder ordiesel mechanic or whatever. You're hired the
day you get out of school.And they're good health, these salaries,
and you've worked for a lot ofthese these businesses, these trades, you
can work for yourself in a yearor two and you're really going to make
a lot of money. And sopeople look at education differently, and the

(02:39):
five to nine plan is built withthat flexibility, so that you can go
to Harvard and get you a PhD. Or you can go to the local
tech school and learn how to bea welder or a computer programmer, how
to get started. So is futurescholar. Dot com is where you can
go to get more information and there'snever a too late So why not on
during this holiday season actually gives somethingthat they're not going to grow out of,

(03:01):
that it will actually grow. Howdoes that work exactly? If you
think about an Ira. It worksthe same kind of way the State Treasure's
Office invest that money. We haveover six billion dollars, so this is
not a rag tag operation. Sixbillion dollars. It's invested right now.
We are proved it with our investments. They have good, strong returns at

(03:22):
an acceptable amount of risk. It'sset up so that your money's going to
be there when you need it,and we take into effect how old your
child is and how old you are, and what their plans are likely to
be. It's like we'll say youroldest college gets to full ride to school
or goes in the military. Youcan transfer all that money to the second
kid, or third kid, orany combination of kids. So it's that

(03:45):
flexibility which is so important. Andagain, as I mentioned, for two
or three years now you've been ableto use it at private school tuition K
through twelve, and that's really agame changer for a lot of families.
Yeah, it is all right,future scholar dot com. You can get
more information in any parting story ofsuccess when it comes to people who have
actually put their money here and seenit flourish and grow all the way to

(04:09):
the end. We have so manypeople if I walk through a mall or
go to a parade or something.I'll hear people holler, hey, that's
a treasure. We put three kidsthrough college on the Feature Scholar program,
and so we would hear that constantly, and we're just blessed because it's the
kind of program where people love.It is authorized and sponsored by the government,

(04:30):
but it is in effect a privateindustry program, so it has to
work to make the customers happy.We could beat out there every day with
big investment firms, and we beatthem every day, and so that's the
important part. And if you thinkabout it, now, why go down
to wal Mart or someplace. Whygo to some woke store and buy something
and you can sit at home writea check or make an electronic transfer into

(04:51):
a five to nine account. It'sgoing to really matter to your child.
Fifty books put in an account whensomebody's two years old as a whole lot
more than a few bucks when they'retwenty years old because of an investment.
So it's just a great play.This tell Me Something Good Tuesday edition of
that Kelly Golden Show podcast is broughtto you by Holy City Here Here Better

(05:13):
Now at holycityheree dot com.

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