S4E5 Turning Your Business Into Your Own Family Bank
Steal the Show with Michael Port
00:00
Five 20 Nines, Can You Define a Five 29 Account?
A five 29 account is a special account that you can put money into to go towards a child's college, or anyone's college. You get special tax treatment on the gains, only the gains. Any growth you get in that account can be used tax free for qualified college expenses. So when jake was little, i set up at five 29 and just was putting money in there and built up a good sized account for him. All that principle that had been working all these years is now gone.
Transcript
Play full episode
