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!
Resurfacing the Hale Boggs Memorial Bridge deck isn’t just a $24.5 million upgrade,...
The Des Allemands man accused of stealing more than $12,000 from the 2014 Louisiana...
Though a lopsided loss to Destrehan halted Hahnville’s winning streak at three, the...
Those who volunteer with the St. Charles United Methodist Church Food Pantry in...
An attempted traffic stop by Louisiana State Police on I-310 turned into a police...
A New Orleans man accused of kidnapping and raping a Norco woman before allegedly...
Over 25 Years of Quality Sales, Service and Repairs on YAMAHA, MERCURY, EVINRUDE and JOHNSON Motors.
Serving up success at Rye Canteen - 1636 views
After years of running businesses for others, Barrett Roberts decided to give up sitting behind a desk and do something he’s always wanted to do – open his own restaurant.