Page 4 shop online at www.broadcasteronline.com February 8, 2011 DAVE SAYS: 1101 Why save for retirement first? WANT TO ADVERTISE TO THE MIDWEST? Place your classified ads in the Midwest Classified Network anytime online at www.midwestfreeclassifieds.com(MCN) Dear Dave, I noticed that your Baby Steps list puts saving for retirement before saving for your kid’s college fund. Sending your kids to college would come first on the timeline, so why do you suggest this? Jen Dear Jen, I advise this approach because everyone is going to retire someday, unless, of course, they happen to die before reaching retirement age. Retiring and eating are necessities. College is a luxury. Lots of people succeed in life without going to college, and thousands have worked their way through college. I worked 40 to 60 hours a week in college, and I still graduated in four years. Having a college fund set aside by your parents is really nice, if they can afford that kind of thing. But you can go to school by getting good grades, applying for scholarships, working your tail off, and choosing a school you can afford. I believe in education, but there are lots of ways to get a college degree other than having your parents foot the bill. The last time I checked, there aren’t any good ways to retire except for getting yourself ready for retirement. I mean, you can always live off Social Insecurity and buy that great cookbook, “72 Ways to Prepare Alpo and Love It,” but I don’t consider that a plan. In short, college funding is not a necessity. That’s why it follows saving for retirement in the Baby Airduct Cleaning Residential, Office, & Light Commercial James Heating & Cooling Vermillion, SD 57069 605-624-9140 Quality Repairs, Service and Installation at Reasonable Prices Licensed and Insured • Free Estimates Steps. Should you try to save up for your kid’s college education? Sure, if you can. But there are lots of parents out there who won’t be able to pay a dime toward someone’s college education. And that doesn’t make them bad parents! —Dave Why insurance and not warranties? Dear Dave, Can you explain how you view the difference between warranties and other types of insurance? Anonymous Dear Anonymous, The purpose of insurance is to transfer risk that you cannot afford to accept. Let’s look at life insurance as an example. I recommend having about 10 times your annual income wrapped up in a good, level term life insurance policy. If you make $50,000 a year, have a family, and you don’t have $500,000 saved up, then your family cannot afford the risk of you dying and losing that income. In cases like this, you buy insurance to transfer the risk. Now, once you have that kind of money saved up, and especially if you have no debt, you won’t need the insurance policy, because you’re self-insured. When it comes to items like warranties on things, I look at it this way: If you can’t afford for the item to break and pay out of your own pocket to have it fixed without it crushing you financially, then you can’t afford that item. Don’t go out and buy some big, fancy computer if you can’t afford the repair shop bill if it crashes. You shouldn’t be buying stuff if you’re that broke. Period! —Dave * To see if Dave is bringing the Total Money Makeover Live! event to your city this spring, please visit daveramsey.com/category/e vents/. * For more financial help, please visit daveramsey.com. Tell them you saw it in the Broadcaster! Announcements Events 1200 Cars 1926 Model T Roadster, 1977 Oldsmobile Delta 88, 140K, good body. Call (402)371-5956 after 3 PM. 1995 Pontiac Van Transport 3.1 engine, See at ROADSHOW ANTIQUES $1,650/OBO. GARAGE SALE: Furniture, miscellaneous. By appointment only. (605)665-0978 or (402)640-1422. DONATE YOUR CAR! Breast Cancer Research foundation! Most highly rated breast cancer charity in America! Tax Deductible/Fast Free Pick Up. 800-771-9551 www.cardonationsforbreastcancer.org nani DONATE YOUR CAR...To The Cancer Fund of America. Help Those Suffering With Cancer Today. Free Towing and Tax deductible. 1-800-835-9372 www.cfoa.org nani 1210 Trucks 2008 Silverado 1/2 ton LTZ. Excellent condition, 29,000 miles, $30,000. (402)640-2888. 1250 Motorcycles 1 mile west of Vermillion • Business Exit 50 & Timber Rd 605-624-3532 We repair ALL snow removal equipment and have new cutting edges in stock. Steal fabrication and aluminum welding 605-624-3532 Vermillion, SD 624-4429 HOLMES WELDING Buying ATVs, jetskis, motorcycles, and snowmobiles. Prefer projects. Will pick up. Call 402-371-7002. Please Recyle When Done Reading! WANTED Buying all types of SCRAP IRON Farm Machinery • Cars & Trucks References Available • Top Market Prices Paid Home: 402-945-1512 • Cell: 402-533-3640 : 2 : DAKOTA STEEL INC. OAKWOOD APARTMENTS • AFFORDABLE RENT ADJUSTMENT FOR YOUR INCOME • LARGE 2 AND 3 BEDROOM RENTAL UNITS • STOVE, REFRIGERATOR & AIR CONDITIONING • OFF-STREET PARKING AND PLUG-INS • UTILITIES INCLUDED • ON-SITE COIN LAUNDRY • PLAYGROUND EQUIPMENT & SAND BOX • 3 BLOCKS FROM CAMPUS CALL NIKKI OR DAVE (605) 624-9557 Canton, SD ! ! ! STEEL FACTORY ! ! ! • 29 Guage Steel • High Quality 100,000 P.S.I. Tensile Strength • Cut to length from 1”- 60 ft. • .0155 mill thickness before paint • .017 mill nominal thickness after paint • 40-year paint warranty OFFICE HOURS Monday through Friday 8:00am to 12:30pm and 1:30pm to 5:00pm FACTO R DIRECT Y Call for Prices. “We Roll Our Own Steel For You We’ll Roll You a Deal” Bottom Dollar • Factory Direct • Wholesale Prices Post Frame Building Packages or Steel Sheeting 605-987-9080 • 605-987-4306 fax 201 W. Cherry St., Vermillion, SD 57069 • 605-624-2695 www.broadcasteronline.com • www.plaintalk.net INSIDE THE BROADCASTER’S CLASSIFIEDS 624-4429