This is the Kim and Jim show. In this blog post, we will be having my favorite granddaughter here with us today. Her name is Hannah McKennon, her father is Mike McKennon. She goes to Monticello and she popped in today to help us with today’s topic’s discussion. She’s a straight-A student and she’s going to be a cardiothoracic surgeon. She also does volleyball, soccer, and color guard. A color guard spins flags. Whenever I need something installed she does it.
Whenever I buy something and I don’t know how to do it she helps me do it. Her father dropped her off as he had to go somewhere, her mother is an Algebra teacher in Monticello and she has a little brother that she dearly loves and his name is Sam McKennon. She just dearly loves him and if she’s a little bit kind of laid back today is because she is missing Sam.
She got a new dog too; her new dog’s name is Finn. Finn is a Goldendoodle and she has two other Labradoodles so now she has three of them. I didn’t have a chance to do this before when she was coming along I didn’t know about it. We told you about the CAB plan, Child Asset Builder and that is a phenomenal plan.
I wish I have done one for her but I didn’t know about it but now I know about it and so we’ve got one for our grandson’s son, little bubba. My grandson is 9 months old and we did a CAB plan and basically, it works, we’re going to do a lot more, I just want to give you a little taste of that. We’ve talked about it before you know, Do you know how the CAB plan works? No?
Basically, the way it works is I’m going to put aside the numbers is about $5,500 over a 5 year period, you can’t do it all at once and if non-guaranteed numbers come to play well we’re illustrating interest rates of what they’ve been doing we couldn’t do it as much as they’ve been doing it we had to do it about half of what they’ve done, Little bubba when he’s 70 years old will be able to start taking an income of I think it will be roughly around 200,000 dollars tax-free.
Sounds nice right? Do you like to pay taxes? Her dad is one of the top State Farm agents in Monticello so if you need some insurance go see Mike McKennon. She has a beautiful Mama her name is Lydia. You can’t call her a math teacher you must call her an algebra teacher, she teaches algebra. They’re great people, and her little brother is a piece of pistol, he is 11 years old this year. And my granddaughter is 15 years old.
So the CAB plan, I want you to think about it. Tomorrow we’re going to do some more on it but I just want you to think about that. Alright if I put in roughly 6,000 and he’s going to take out roughly 3 million dollars tax-free, is that a good deal? Oh yeah. This is my fifteen-year-old granddaughter that even she knows. Do you think Sam would know that’s a good deal? Sam likes money. She likes money too.
So that’s the deal folks, it is phenomenal we’re going to talk and Kim says that’s our favorite subject that we’ve talked about. We’re getting it on our website where you can go and get about a 15-16 page little booklet. They’re all big pages and colorful, you don’t have to worry about the 16 pages as it won’t take a long time to read. You can just print it off if you want to but it’s not up yet.
We’re working on that as takes a little while for the publishers to get okay and you got to have compliance that makes sure I don’t tell you anything wrong and all this kind of stuff. We got a lot of pictures on there. I think you’ll enjoy it, anyway thanks for joining us today. Not only is this Jim and Kim but this is Jim, Kim, and Hannah telling you goodbye. Hey! Have a great day.
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