Eleanor
Appearances
The Ramsey Show
Discipline Is the Key to Building Wealth
funny guys really well done Eleanor is in Charlotte North Carolina hey Eleanor what's up hi Dave hi Ken big fan of the show and of both of you uh thanks for having me on thank you how can we help uh so my question is if it would be morally wrong to offer to open 529s for my friend's children uh but with the stipulation that I get to maintain ownership of the account um and I can give a little bit of background on why I'm asking that question but um
The Ramsey Show
Discipline Is the Key to Building Wealth
So I was listening to the show last month, and George and Rachel had somebody on who had a baby, and his brother opened a 529 for the baby and wanted to maintain ownership of the account. And they felt like that was a strings-attached situation. And so this is really relevant for me because I've been wanting to do this for a friend of mine with that same stipulation.
The Ramsey Show
Discipline Is the Key to Building Wealth
But now I'm wondering, is it morally wrong to make such an offer?
The Ramsey Show
Discipline Is the Key to Building Wealth
You are the custodian. The ability to withdraw from it.
The Ramsey Show
Discipline Is the Key to Building Wealth
Can't the owner draw on it with penalties or something like that, though? That's my concern.