You're Hired! What you need to do to win every job interview and the benefits of a 529 College Savings plan

Friday, March 2nd

Should You Use a 529 Plan to Save for College? 70% of American adults have no idea what a 529 plan is so here's what you need to know about it.

Then, when it's time for that job interview there's one very important thing you need to do to impress any interviewer

This week we cash in with expert Paul Celuch

Thanks to our friends at Family First Credit Union for supporting the $even Figure$ podcast!  
When it comes to financial education, earning and learning go hand-and-hand, and Family First is here to help you and the Greater Rochester community with both!



Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

It's in Friday that means it's time to dominate your finances and seven figures I'm sandy matters so much for taking the time to check of the podcast since thanks to our friends and family first credit union for sponsoring the pod cast. When it comes to financial education learning and learning go hand in hand and family buries its here to help you. And a greater Rochester community without. Okay so today we're gonna focus on Tuesday this saving for college with these 529 college. Savings plan and when it's time for iron. That job in her video. What you need to do it in stay in the Allen yeah it tap into the wisdom now actually they're experts also Seles founder and CEO. A college assistant plus thanks for help and that's outstanding great to be here which it is a little background on colleges assists plus and I initially started my vision was. How we help families find the right collagen and and help them finance it so some of the things we get involved and as we really challenged the student. What are your interest what are your passions what are your guests. Where those C three things come together as well you should do what your life after college. Reason we do that is because he every student changes majors four times in collagen has very little help. Are given by the college to help them find jobs afterwards so we get very involved in that aspect we teach students how to network we teacher student. Hey this is not about going to college this is about launching a career. And you you've got to focus on that end and as in any other decision you make for your future. You have to take into account what it's gonna cost you go to a school also don't make you know that decision for a school. Based on emotion. We started rural lending company a year and a half ago or not I think the reason we did that is because they're at the amount of the student loans and that is exceeded a trillion dollars and so almost everywhere are Koreans. A majority can count on two hands the amount of clients in fourteen years better have the money they just simply pay for college in so it's all financing so. We had a very involve Lou every part of process I have a team of about twelve people. There are very involved with every one of our clients send and we're very proud of what we've been able to how we've been able healthy and he's not only in this community but in Syracuse and buffalo and throughout the country. College told the same value as it won instead there's a lot of people who would argue and question. A college degree doesn't always guarantee a job is it worth. The debt. I there are some people they should not go to guy artery and I think trade schools are great option there's value gonna college but there's not the the intrinsic value and name college. Right I mean you can go to college in this town. Fer 20000 or 40000 all your 506070. Like you and I were chatting before you went on here. When was less on some issue where you graduated from right it's all about you when your performance. Think of it financial exact financial they are best for you so speaking of that the 529 college savings plan 70% of people don't even know would it is so let's give everybody a crash course. On its benefits because there are a lot of benefits to having one she. Orwell it's it's a tax deferred Bernard savings for an and that's always good right it's like are forewarned kangaroo whatever you know right. And just to give you some numbers for the New York State 529 so for us. Up to 101000 dollars. You can deduct annually for married couples filing jointly but single taxpayers you can deduct up to 5000 dollars annually so if you're already planning to save for college. It helps but you have to use it for higher education right look qualifies. Wish your room board fees books a computer now and based on the last tax rendering you can use different K through twelve so if you're all of our chairman gray you can use it. Well I didn't and I are just change it just changed so that's a good thing we say to a family if you have five point nine Monique. You should use it as soon as possible immediately it really impacts how much. You can get in financial aid which really his student loans that's the sort colleges call financial aid and student loans. What do you figure your child gets a scholarship and there's more money in the fine this is that this could be a good problem to have there's more money the 529 plan in the neat. Welcome what happens to well under. The great thing about my join our money you can kiss gave them up. We're nominal down so if you have so a year year old is child elects not to go to college. You can cascade the money in in his or her name down to your house senate and the younger sibling. You can also cascaded up. So if if she decides your later on or go to college you know when you have extra money into the rserver you can you can so it's got the certain amount of flexibility that's good okay. Theory Geary simple process is really to get that started my very easy and it's just online and of course with the way the markets were growing you know there's no guy is gonna continue growing Brit. And his gracious I mean I've been around long time I've never seen mark you know grow quite there's yet take advantage of any candidate exactly. OK that's your financial knighted about these 529 college savings plan if you went a look more into that if it's right for GO. Let's go to the pulse eligible for college assistance plot speech has you where had to do many corporations you did a lot of the high hearing. Finding the right people. What could we tell our kids to get them ready even. Some adults who are still looking for an end you career that new job what is it that you look for in a potential employee well. I think this thing makes people successful has nothing to do would brains. It's interpersonal skills in people have to like you not love you I mean it's not yet but they have that perspective like you. Nearly thing is communication. If you communicate well when I look back in my career or in any. I thought about this the other day because my grandson I had a right out of on paper on somebody's life and he said pops you've got a lot of job armed I choke on break down a little bit Al well your history as well. I started out the idea I'm OK I was a typewriter salesman with a IBM. And that was a great company for their work or sixteen years I have a lot of great job cites progress to. An executive position when IBM and that's what brought me to Rochester and actually come on down from I come from not Cinderella diminution. Then I came here and there was a company you're too young to remember shows are high flyer here call cites data tonics and came in I was vice president sales for them my left IBM. Went to work for burrows under which you don't remember our university evident. I started my own company which was our. The computer company and we worked out as this year's deals here's Bill Monroe avenue Munro square did that for about five years. Then I went to work as a Rick executive recruiter for a couple of years that was a great job and one of my clients was MCI. And when I was recruiting for MCI the president of a good northeast division said to me you always spend a lot of money. Our new recruiting people one to come the worker make it a vice president of the northeast. So I went MCI which was my introduction Telecom and I was recruited away by Rochester Tel and I had a great job there that was fun for five years. I was recruited away by a company out of Florida. Called an immediate communications. Then after in the media IE consultant for company on the Charlotte. Welfare porn communications. Then I was recruited away by accompanying bushels bacon cold and power communications as president and. Our. Well you just love change don't you know I do why I've had I've worked for fifteen different companies wow. Somewhere in the experience that you have now under your belt what is it that when you were in all these high level positions and all of these companies what was it that you were looking for just interpersonal. Skills are. Oh I love the challenge I look well more and more I hire people. I look for people can communicate a cancer ya have to be I don't know what I mean by that is just not speaking got to listen intently. And that's what people look for I mean you know you can you can kind of be an accountant work any cubicle. And maybe you never interact with anybody but I still think it's very very important is certainly important when you're trying to get your first job now what we do. When we chip when we training young person one of our clients who's going to either go to college. Or four of our career interview what we say is. So I would pose this question you Sandi if you warmer currencies Andy. I'm gonna prepare you for his energy I can act and I we have twenty or thirty questions that we ask for the college interview and in 15120 for a job interview. But here's a way you control the interview and we we say we want you going into the interview with a game plan. In the game plan is we want when when when you finished that interview. In your mind as the applicant you know with no uncertainty that you do you've left this person with the impression of Husseini waters as. The way we did that is we say sandy. Tell me three personal characteristics about you use anchor your strengths so you may say. A very extroverted. Very articulate. Animal hard worker work ethic and then would we say two to instill that into your interviewer. We want you to come up with a story or metaphor it shows me you have great communication skills so you might say well. I didn't start out to be here radio announcer but let me tell you how my careers progressed and that you know you have some. Stories go farther than just story Ammann organized person or I'm a hard worker people remembered details now can we say in our company is. Fax tell. But stories sell so the fact is you work for the bugs. But the story is. Let me tell you what I do there anyhow let you know how hired help about the impact to be okay and so we we say when somebody and you question about sandy. Why you wanna come the work here you say well. You know I think it's it's it's an energized business you know we're we're really exciting. This is an exciting industry to be and but let me tell you what I'm gonna bring. The opportunity OK and that and it's amazing people and the feedback we get from colleges and employers. And your people come in they predicament they take the interview over and you don't which is top floor where a young Australia. But it's tough for adults and really I hear people go into an interview would very passive. Right I mean I mean think about how many times I've interviewed. I remember flying to certain foreign service I've. I was with Rochester tell the time and I had aren't we require a lot of companies are doing a lot of travel I get a call from her career earnings said. Sprint is looking for president this was when sprint was in Kansas City. So I'd arrange an interview Fuhrman I'm really wasn't looking well if you could tell by Maya. You know my history I was always kind of looking itself he said we're gonna fly you into Dallas these people are gonna meet your idea admirals club in Dallas. And for people are gonna interview he now does not comment you know we usually is not a group interview. Intimidating. Well who was but I didn't care you know I was like I was gonna be on my way to San Francisco anyways wreckage is diverted to Dallas so I go in the Dallas. And I sit down these people. And it rolled nice people but there are very very young and I was in my fifties at the time early fifties and and I had a ton of experience I mean these these people and only balanced Brent Wright and you're right guard vice presidents often marketing and so at the end of the interview so I was a little bit cavalier may be even cocky about the interview. And and the recruiter called me up publicly and said when he really they'd love do they wanna hire you and I said well why did they like me he said because you're so confident. Well Clinton and his company has because I had done the job I mean I had yeah that was in and eight they said you know we could really work with this person. Sony made me a big offer I decided not to dig it because they wanna move to Kansas City but. But we're confident. Raid been counting your right how many times do you hear that walking in with confidence. The weird is that fine line of confidence and cocky well no employer wants our you don't know what Al employed in all. Do you know I think I think the way you portray that is. With a great sensitivity to what the challenges. So so somewhere any interview I would say to the person you know who he really looking for I mean who's gonna. If you could categorize and describe this person and all his or qualities what would you be looking for. And if you're out that if you interviewing them well if you said something you know first of all. This may surprise you or not but some Playboy interview where I remember this I won't say the name of the company but I remember interviewing with a person. I was gonna report to. If I took the job and I eventually had and he said to me. You know I've never interviewed anybody in my life now this guy I was a high level guy at this company. He said I've never had when I read a book last night do you mind if I take a book out and redo the question from a buck a lot of people don't interview you know if you if you will into an interview was showing hey this person really knows how to interview people. That's what we teach a person to control the interview in because many times they don't. But being sincere and genuine already there okay it's QIRA huge bite him the stories member of facts tell them. No apparent stories hearing now owns. Must think he's a lot of sauce and his earlier in college and Justin's buddies start coming you wanna talk to Paul and his team over their college assistance but thank you I'll move. Some scattered out some fans love our conversations with causalities OK so now and the podcast with another wise man might act. Father Knows Best my dads and fifty cents. Thank you again for subscribing and giving us a review on iTunes and thanks for telling a friend about the seven figures typecast have a great weekend dominate your finances. Making them minimum payment. 3000 dollar high interest credit card debts can take over fifteen years the payoff. That's how some people give themselves into a financial rot that's difficult to get out of so make sure you do everything possible to pay off high interest loans person.