MONEYTALK with Al Suffrin
I just inhereted $98Gs - how should I spend it?
My parents I already have a college fund set up for me, so I don't need the money for my education.
I plan on buying a 2007 Mitsubishi Eclipse fully loaded and my parents say that I need to be responsible with the rest of the cash.What should a kid my age do with all that money? - Loaded in Boutte
Dear Loaded: First, you should make sure there is enough money in the college fund for the tuition costs, room and board, number of years in college, and you need to decide whether or not you will pursue a master’s degree.
Once you have enough money for college, you should invest the rest in a diversified portfolio consisting of mutual funds for retirement.
Assuming the vehicle costs $30,000, college costs are covered, and you invest the remaining $68,000 and leave it alone and it earns approximately 9 percent per year. Then at age 65 it will be worth $4,638,818.
Subscribe Today and Save!!!
St. Charles Herald-Guide is an award-winning newspaper that covers all aspects of St. Charles Parish - from schools and parish government news to social events, features on our local residents and sports.
Order your subscription today!
A 2002 BMW, 1999 Mercedes ML3 and a 2007 Ford F150 are among the 29 vehicles that...
A suspect in the December 2012 murder of Norco resident Jay Bertucci was...
St. Charles Parish Public Schools has been named one of the top school districts in...
Employees of Home Depot, along with members of the Veterans of Foreign Wars Post...
Nearly seven years after the 2007 murder of Hilda Mae Warren, family members are...
The Rotary Club of St. Charles Parish recently held their “People of the Year”...
Yes, you've seen us. Maison Decor is the premier home decor retail store located on highway 90 where Boutte meets Luling. So stop, come on in and you'll be surprised!
Man sought for attempted kidnapping in Boutte - 5432 views
A Reserve man is being sought in the attempted kidnapping of a 17-year-old girl at gunpoint in Boutte on Saturday.