April 5, 2016 • Page 2 shop online at www.missourivalleyshopper.com Dave Says Planning For College By Dave Ramsey Dear Dave, We have two daughters, and we’ve started thinking about financial planning for college. What are the differences between an Education Savings Account and a 529 plan? —John Dear John, I’m glad you’re thinking ahead and planning for the future. Here’s a quick overview of the two. The Education Savings Account (ESA) is limited to $2,000 per year, per child. It has complete flexibility, meaning you can invest it in whatever you like and you can move it—roll it over—to another one if you don’t like that mutual fund, as an example. I use that example because I recommend using good growth stock mutual funds and that you do this for the first $2,000 invested per year. There are several types of 529 plans, and there’s only one that I would recommend. It’s the kind that has complete flexibility, where you control the investments. Some states have 529 plans that are prepaid tuition, and I never recommend those. You don’t want the state managing anything for you, because you won’t get anywhere near the returns you’d get if you managed it yourself. Other types of 529s lock you into a certain kind of investment the whole time, or they move the investment based on the age of your kid. I don’t want anybody doing that crap. I want you controlling your money. Most of the 529s vary somewhat from state Dave to state, but the majority have flexibility that allows you to control the investment while contributing up to $10,000 a year. Both those and the ESAs grow completely tax-free on the growth as long as they’re used for higher education. They can also be transferred to a sibling if the kid doesn’t go to school, so a little brother or sister can use the money. If they get scholarships, make sure you keep up with the value of these. You’ll be allowed to withdraw that amount and refund yourself for the scholarship amount without penalty or taxes on the amount withdrawn. In short, both the ESA and 529 are fine ways to save for college. Just make sure if you’re doing a 529 that you choose the kind you control from top to bottom! —Dave Ramsey My first wife came from a ranching family way back up in the hills and had a cousin, Ted, who was a hounddog man. I talked my way into hunting with him, of course. All went well until we were on the way home, when a badger ran across the road and dove into a large culvert pipe. “Oh wow!” Ted yelled. “Let’s get him!” Dear Kristin, He released most of the hounds and they plugged Overspending is, 100 percent of the both ends of the culvert pipe with bawling insults. In the dead time, a choice. It’s a decision. Most center of the pipe was a snarling badger. of the time it’s linked to immaturity, “Gotta smoke him outta there,” Ted said, lighting a although there can be other issues at cigar and handing it to me. play. “Now crawl in there and smoke that sucker out.” People who habitually overspend “You sure?” are saying that they’re unwilling to act “How many badgers you hunted?” like a mature adult, and delay pleasure So I crawled into the pipe with the cigar in my in order to win with money. This kind of mouth, puffing away, and the badger actually backed up a few thing is made even worse, because we live in a culture fueled by extreme debt steps. marketing. And when things like credit Then Ted released Ol’ Chomper from the car. He card offers are constantly in the face of screamed into the other end of the pipe and grabbed that immature people, those two things can badger in the butt. combine to make a real mess. The record for backing out of a culvert pipe with Good question, Kristin! a glowing cigar in one’s mouth was shattered. I was told I —Dave resembled a Phantom jet with its afterburners on. My wife told me that, as a member of the family, I could Dave Ramsey is America’s trusted hunt with Ted all the time. voice on money and business, and CEO After the divorce.... of Ramsey Solutions. He has authored five New York Times best-selling books. The Dave Ramsey Show is heard by more than 11 million listeners each week on more than 550 radio stations and digital outlets. Dave’s latest project, EveryDollar, provides a free online budget tool. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com What causes overspending? Dear Dave, In your opinion, what causes overspending? —Kristin April SDSU Extension Contours Episodes BROOKINGS, S.D. Livestock health will be the focus of upcoming episodes of SDSU Extension Contours which will air at noon (CST) on South Dakota Public Broadcasting Sunday April 3 and Sunday April 17, 2016. “Animal health is an important factor in producing healthy food,” explained Barry Dunn, South Dakota MOODY MOTOR NIOBRARA, NE Patrick Hawk 251 Spruce Ave • Box 260 Niobrara, NE 68760 www.moodymotor.com pjhawk@hotmail.com (402) 857-3711 (800) 745-5650 Fax (402) 857-3713 Corn Utilization Council Endowed Dean of the SDSU College of Agriculture & Biological Sciences, SDSU Extension Director. “Just like people, animals may get sick and may require medicine to treat their conditions. More importantly, animal medicines are a critical link in the food safety chain.” Dunn serves as moderator for the series produced to address issues impacting South Dakota’s agriculture industry and presented in a discussion format. In addition to Dunn, the two-part Contours series will feature four panelists including; Dr. Dustin (Dusty) Oedekoven, Interim Secretary of Agriculture, South Dakota State Veterinarian; Dr. Russ Daly, Professor, SDSU Extension Veterinarian, State Public Health; Veterinarian; Dr. Lon Kightlinger, South Dakota State Epidemiologist and Hannah Walkes, President of Pipestone Veterinary Service. “Modern livestock pro- duction involves a team of people committed to the animal’s health with the goal of creating a wholesome, high quality food for consumers,” Dunn said. Energetic, dynamic and thought provoking, Contours brings together leaders and experts to discuss important industry and statewide topics. If you are unable to tune-in to the SDPB broadcasts, April 3 and April 17, 2016, Contours videos will be posted on iGrow. 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RiveRcity treasures & Pawn 301 E. 3rd Street, Yankton, SD 665-3588 The Missouri Valley Shopper and missourivalleyshopper.com is your complete source for buying and selling. Everything you need is just a click or call away! To place your ad call... 605.665.5884 MV Shopper M I S S O U R I VA L L E Y Spring Soil Temperatures BROOKINGS, S.D. - SDSU Extension provides real-time soil temperature data online at the SDSU’s Climate and Weather webpage. “Soil temperatures are an important factor when considering planting dates for many crops,” said Ruth Beck, Agronomy Field Specialist. “This webpage is a great resource for South Dakota’s agriculture producers.” Temperatures are measured at the 4-inch depth and daily averages are calculated in bare soils as well as vegetation covered soils. Beck explains that this is because there is a temperature difference. For example, on March 20, 2016 a map developed by the automatic weather stations across South Dakota show soil temperatures at the 4-inch depth in bare soils ranged from 34 to 45 degrees Fahrenheit; whereas, soil temperatures in the same locations and depth, but in vegetation covered soils ranged from 33 to 40 degrees Fahrenheit. “Temperatures at shallower depths will be higher than those at 4 inches,” Beck explained. “The greater range of soil temperatures in bare soils is expected and makes sense. Vegetation insulates the soil surface from wind effects and evaporative water loss from the sun. Therefore vegetation covered soils can hold more moisture.” She added that moist soils have a higher specific heat than dry soils, and are therefore not as sensitive to air temperature fluctuations. “This also means covered soils do not vary as much in temperature between daytime and nighttime as bare soils,” she said. Planting recommendations Recommendations for spring wheat include planting when soil temperatures are 34-36 degrees Fahrenheit at seed depth (between 1 and 2 inches). Oats and peas are able to germinate when soil temperatures are just slightly warmer around 38-40 degrees Fahrenheit. Sunflowers germinate when soil temperatures are at or above 45 degrees Fahrenheit. Corn and soybeans germinate better when soil temperatures are consistently at or above 50 degrees Fahrenheit. Fungicide seed treatments recommended Although soil temperature plays an important role in seed germination, Beck said it is also very important for seeds to be in moist soils. Soil moisture levels fluctuate across South Dakota this spring. The southeast part of the state received ample moisture during the winter, but the northwest portion of the state received little in the way of winter snows or moisture. 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