DELIVERY DILEMMA: No gifts here yet? Here's what you do ...

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Episode Transcript

Speaker 1 (00:03):
This is the Kelly Golden Show podcast powered by Disaster
Plus on a Big Fail Friday.

Speaker 2 (00:11):
Future scholar dot Com always a joy and pleasure to
talk to State treasure Curtis Loftus here on the program.
How are you doing well?

Speaker 3 (00:19):
I'm doing very well, especially as an old grumpy man.
I love this cool.

Speaker 2 (00:22):
Weather me too. I love seasons and I'm happy that
we have them here in South Carolina. And I mentioned
the Future Scholar website, something also we have in South
Carolina that I think not enough people know about. What
a gim this is.

Speaker 3 (00:38):
Well, thank you. Future Scholar is the college savings plan
that the federal government started, turned it over to the states,
and the State General Simley looks at the Treasurer said,
you run this program. You make sure it's cost effect
that you make sure it's easy for everybody to get
into it. We don't want troubles, Curtis. So that's what
we do. And I'm very proud of what I came into.

(00:58):
Officship is a billion dollar program. Now it's a six
and a half billion dollar program, and it's the tax
to Danny's way to save not just for that four
year education that we all think about, but for graduate school,
for two year school, for four year college, for trade schools,
tex schools, for culinary schools, all of these schools that
are accredited, can you can use this money? And not

(01:21):
just in South Carolina but in any state in the Union.
And they're about six hundred and fifty seven hundred colleges
around the world. So it's flexible. And it's even so
flexible that recently they've allowed it to be used for
K through twelve private school tuition, so you can pay
that private school tuition and it comes out of your

(01:41):
tax advantaged account. And so again it's that flexibility. It's
all about certain the people who want to make sure
that their loved ones have a proper education.

Speaker 2 (01:50):
I think game changer is a great way to describe
the K through twelve private school savings being added to
future scholar dot com. I think not enough people have
heard of about that, and I'm glad that we're discussing
it here today.

Speaker 3 (02:03):
Well, it is important, especially post COVID, A lot of
people just say, Hey, I want my kid closer home,
I want to be at a smaller school. This is what
I want. You know, every parent has that enugy to
make that choice. So this is a great way for
them to say that Ksey twelve was more important than
one of these twenty years old, so work it that way.
But they've also done so many other things. The federal

(02:26):
government now allows that if you have excess money in
the account, that you can use up to ten thousand
dollars to pay student loans. Because you know a lot
of people they balance some student loans if youture schollar,
and then they work part time job or something. So
now you can pay up to ten thousand dollars from
that student loan account. So you know, that's tax advantage,
just grown tax free. You pulled that out tax free,

(02:49):
so it appreciates the dollar of the amount that you
have to put to pay. So that's a fantastic And
also you can if you have money left over in
your account school, you can roll it over into a
roth ira. You know, as a politician, you got a
little bit careful what I say. We have experts they
can walk here right through everything. But you know I

(03:09):
got the headline right true, and uh, you know, we
hear people talking now about this college student dead. And
you see where the administration keeps promising to white people's
debt off the off the books, and a lot of
the people he's talking to are lawyers and doctors and
people like that that have debt. Well, you know, South

(03:32):
Carolina is a working class state. We need to be
able to get our kids through whatever school it is,
whether you want to be a welder or whether you
want to be, you know, a mathematician. We've got to
get you through and future scholar is the way to
do it well.

Speaker 2 (03:46):
And I love the flexibility here we are. I think
it's really important. You mentioned, you know, COVID post COVID
people are really pivoting. And the key there is accredited universities.
You mentioned some overseas, many here obviously in the States,
but also those trade schools learning a craft something that
you can become a millionaire off of one day.

Speaker 3 (04:08):
Well, my family had a business in the trades, and
I grew that business and sold it off to private equity.
I mentioned before the call we started that I have
a seventy two year old man outside cutting a ninety
five foot tree. Nobody else would do it or could
get it done. So he said that there's so many

(04:29):
opportunities for that guy or girl who wants to be
a welder, who wants to be a first class carpenter
or whatever it is that you can go to trade
and tech schools today. There's real money in that stuff.
I'll tell you there's real money, and so we encourage
people to look at all of that. So it says
you can live the life you want to live and
instead of having that bone brushing debt from college, you

(04:52):
got leave your dreams, do what you want to do.
You know future scholar dot com. That website, it's easy
to use, takes about thirty minutes. There are no fees,
you don't have to put any money in that time.
You can set it up and say you're a twenty
five year old guy who just got married or a
girl who just got married, and you say, I'm gonna
set this think up and I'm gonna let my mom

(05:12):
and dad know, my aunt and my uncle, my friends,
and let them instead of buying you a Christmas present
that you don't need, let them start putting money in there.
I've got eight accounts for my nieces and nephews that
I managing fund for them because they just famis need help.
I would give four more money to a gift of
education that I would ever for a PlayStation or you know,

(05:37):
a boostwater or whatever it is. The kids don't need
to get bought. That's the secret. So we have on
that website evites where you can invite your friends and
relatives to help you out. They get the tax deduction
when they make the payment. So that's a good thing.
You know. Instead of getting in your car, paying for
gas to drive the Walmart, paying sales tax to buy
that blue sweater that kid that mont, you can sit

(05:58):
there at home and make that electronic transfer or email
check to the account and you get a better gift
and it didn't call you anything.

Speaker 2 (06:07):
Future scholar dot com State Treasure Occurtis Loftis. It is
one of our most expensive. As you mentioned, cash strapping
young people just at the beginning of their lives, you know,
ahead of them. There are many options if you've laid out,
and so too is this website that you need to
go to future scholar dot com to check it out.
What a wonderful way to pivot out of debt when

(06:29):
you're first starting out in life. I think people don't
understand how truly important that is to set somebody up
for success, how it will change generations.

Speaker 1 (06:38):
Exactly exactly This Big Fail Friday edition of That Kelly
Golden Show podcast is powered by Disaster Plus Buzz.

Speaker 3 (06:45):
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