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!
Harry Hurst Middle School student winners made a strong showing in the Louisiana...
Week 5 at St. Thomas More always promised to be one of the most challenging games...
Expected to draw more than 8,000 people, the 14th annual Battle for the Paddle...
Bailey Flores is working on her own uptown funky sound in New Orleans....
St. Charles Parish Sheriff Greg Champagne cut the ribbon Tuesday on a $6.6 million,...
Towering 150 feet over the Mississippi River, the 32-year-old Hale Boggs Memorial...
Today's Car Care is the name people trust when it comes to outstanding tires and automotive service in the River Region and beyond.
Game of the Year: For locals, DHS v. HHS just means more - 1028 views
For one Friday night each year, St. Charles Parish is the center of Louisiana’s prep football universe.