Hot Dog, here I am on ABC News!!!

[on-ramp]

Very cool ! where was your Pelican Parts hat and t-shirt?

I should probably go and educate myself a bit more on 529s. My wife and I may be having kids in 1-2 years and that's a good plan to consider. And from the looks of it, it's never too early.

my only concern is that if you're over invested in mutual funds, what happens if the real estate market crashes? Similar to 2000 - Nasdaq went from 5,000 to 1,200... could happen again.

Let's say you're in the account for 15 years with 300K saved and then market tanks. You could lose more than 1/2 of it in 1 year!

Can you opt NOT to invest in mutual funds in a 529?

[stevej37]

Good job Wayne! Very nice family!

[rcecale]

Originally posted by on-ramp
Very cool ! where was your Pelican Parts hat and t-shirt?

Duuhhhh!!!

Since when does IZOD use a Pelican in their logo?



Randy

[tabs]

On Ramp the 2000 crash was the 50 year storm. In other words it was the Greatest Bear Market since the crash of 29 and ensuing Depression.

[on-ramp]

Originally posted by tabs
On Ramp the 2000 crash was the 50 year storm. In other words it was the Greatest Bear Market since the crash of 29 and ensuing Depression.

time are different now and changing fast.

that "storm" could come every 5 or 10 years from now on.

[speeder]

So the idea is to get those kids into a good university so that they can earn a lot and start saving for their kids' education, which will be ~200k per yr/student by that time, at current rates. And live in a tent, because it's all about the kids' education, right?

I don't get it.

[on-ramp]

Originally posted by speeder
So the idea is to get those kids into a good university so that they can earn a lot and start saving for their kids' education, which will be ~200k per yr/student by that time, at current rates. And live in a tent, because it's all about the kids' education, right?

I don't get it.

funny, aint it?

what if the kids dont want to go to college. Can they take that 300K and start a business?

[Craig 930 RS]

Yup, we've put in $10,000 for our daughter about 4 years ago -

[cstreit]

My wife started up a 529 the week after my son was born, it's a real nice deal.... I suppose if he decides to become a plumber, we can go on one hell of a vacation.

So how many times a day do YOU get to watch the "Thomas" movie's Wayne?

[Seahawk]

Wayne,

You did well. I have been interviewed a bunch and I hate it...you came across, ummm, relaxed

The fact that you have the wherewithal to plan your financial future will mean as much to your children as their college education.

[tabs]

Originally posted by on-ramp
time are different now and changing fast.

that "storm" could come every 5 or 10 years from now on.

Bear Markets come and go every few years..

[nostatic]

part of the settlement agreement is that I'm paying into college savings acct (think it's a 529) but if he doesn't use it for college, I get the money.

[Craig 930 RS]

Yep, up/down/up/up down every 5 or 6 - just hang on and watch it grow long term.....

[Sonic dB]

Very cool, congratulations on the great piece.
Making the ABC front page is sweet & a keeper
that your kids can appreciate years later.

Hope you dont mind a suggestion...
Have a professional compose a 1 page Press Release
about the Pelican Parts CEO being featured on
ABC News, discussing such an important topic as
funding his children's education through the innovative
use of a 529 program. Place a mention of PP at the bottom
along with your website addy for further information.
Send it out to all of the web sources for
PR (there are a ton of them just looking for content to use)
and get some additional publicity out of it...
with only about 1 hour extra work. Pro copywriter would
charge about $100 per page and submission would be very
easy to do.

[makaio]

So if the money is not used for college expenses, you have to pay a 10% fee and the interest?

[HardDrive]

We put in $7000 for our 3 year old this year. University of Alaska (T.Rowe Price) plan.

[Craig 930 RS]

10% + taxes on the earnings.

[Drew001]

Originally posted by Wayne at Pelican Parts
Anyone know how to capture video from a flash file?

-Wayne

Here's a QT version of it.
The YouTube version will be up in a while (it takes a bit more time getting it up there).
Here's the YouTube version. The QT version above is better quality and sync.

[Porsche-O-Phile]

Interesting stuff - thanks for sharing!

[on-ramp]

another thought on this topic...

if I had 300K at age 18, why would I spend it on college, suffering 5 years to get a 50K job and then working the next 30 years of my life saving that 300K again?

with 300K so young, you're rich already. (assuming you have a reasonable lifestyle). why blow it on school?