October 29, 2013 • Page 2 shop online at www.missourivalleyshopper.com Dave Says Life Insurance Vs. 529 BY DAVE RAMSEY Dear Dave, An insurance salesman told me it’s better to use a life insurance policy for college savings rather than a 529 plan because the child can use it for anything instead of just col- Dave lege. Is that true? — Rusty Dear Rusty, Of course that’s what he told you. He’s an insurance salesman! He was right on one point. If the kid doesn’t go to college, the savings inside an insurance policy can be used for anything. But here’s the catch: There won’t be much waiting for you, because you saved it inside a life insurance policy. The returns stink! Savings inside a life insurance policy won’t get you anywhere near the cash you’d have by investing in a 529 plan. If you’re going to save for your kids’ college fund, there needs to be lots of talk around the house about actually going to college. It’s not really brainwashing them so much as it’s letting them know the importance of a good education. And they need to know, on no uncertain terms, that the money you’re saving for them is for one thing: college. What you experienced, Rusty, was an insurance salesman trying to sell insurance. Stay away from it when it comes to saving up for college! — Dave RAMSEY BETTER CAR, BETTER GAS MILEAGE? Dear Dave, Is it a good idea to sell your car in order to get one that gets better gas mileage? — Trey Dear Trey, Only if the other car is really cheap, or cheaper than the one you’re selling. I think it’s funny when people run out and upgrade on their $7,000 car to buy a $30,000 Prius to save gas. Think about it. That’s an extra expenditure of $23,000 to save gas. Where are you planning on driving, to the moon? Actually saving money is a much better plan than some of the ideas people dream up in the name of saving money. When it comes to things like this, you need to sit down and do the math. Crunch some hard, cold figures and see what happens. “Well, if we got this kind of gas mileage, instead of what we’re getting now, how much money would we save?” But if you spend $5,000 more to save $50 it will take forever to get back the money you’ve already spent. Getting better gas mileage is good thing, but I wouldn’t recommend spending any more than the value of the car you’re currently driving to make it happen. Moving down in car but up in mileage is a great plan. If you do that, you’ll really start making headway with your money. This kind of scenario is a simple math thing, Trey. The problem is lots of times people’s emotions get caught up in stuff, and next thing you know they think they have a real reason to buy an expensive, new piece of automotive technology. I call that car fever, and it’ll wreck your finances in a hurry! — Dave Missouri Valley Shopper Classifieds IN PRINT & ONLINE To place your ad, call: 605-665-5884 The staff & residents Of Autumn Winds would like to invite all little ghosts & goblins to some trick or treating from www.missourivalleyshopper.com It was a bright morning, and we had finished off the coffee and conversation at the Mule Barn truck stop, and we couldn’t think of anything much to do because we were still full from breakfast and it was too early for lunch, and the political problems and Hollywood gossip tanks had been thoroughly topped off. So we went over to Doc’s house to look at his mare in the back yard. She had, he said, a quarter crack in a front hoof. So there we were, in a half circle around the little mare, staring at that slight crack as though focusing would bring a welded solution to the problem, but we all knew we just needed to drink Doc’s coffee and change the scene. “I see you have a block of salt,” Bert said. Doc nodded. Bert said, “Speaking of salt …” We really hadn’t been, but smooth transitions aren’t always easy. “…. puts me in mind of the time I stopped in that little store,” Bert said. “Few years back now, I guess. Well, it was about the last time Milly had pups, because I think I’d left her home to have them. Of course, she waited until I got home ….” Doc and Steve stared at him encouragingly. “And?” “Oh … well, there’s this little store up north … out in the middle of about flat nothing … and it was hot and I was thinking of a nice cold cocola right about then, so I stopped.” Bert looked around. “Dang store was about full of salt.” “Salt?” “Everywhere. This guy had ice cream salt. Bags of it. Salt blocks for horses, sheep, cows, rabbits and even danged guinea pigs. He had regular salt. He had huge bags of bulk salt for putting on the ice. “So I went to pay for my drink and I says to the guy, ‘You must sell a lot of salt.’ And he says to me, ‘No, but that salesman who calls on me sure does." -------Is the TV too loud for others? Maybe it’s time for a free hearing test. Don’t miss out on the sounds of life, call BELTONE at 1-866-867-8700. -30This is us: Slim Randles Home Country 7308 Painted Pony Trail NW Albuquerque, NM 87120 (505) 306-6009 homecountry8@gmail.com www.slimrandles.com Coin and Currency Auction Thursday Evening, November 7th at 5:00 pm City Auditorium, Osmond, NE 6:00-8:00pm on Thurs., Oct. 31 (East & West Buildings) LLC Assisted Living 2903/2905 Douglas, Yankton • 665-7255 (Doors open at 2:30 p.m.) This will be an excellent opportunity to invest in rare Gold and Silver coins, Key Date coins, and an exceptional offering of Morgan and Peace Silver Dollars. Many rare coins will be offered including a 2009 Gold Ultra High Relief Double Eagle. Download a catalog of every lot being sold from our website, www.northeastauctioneers.com Northeast Auctioneers, Quality Antique Auctioneers, Osmond, Nebraska • Phone 402-748-3985