73K lending Investments??

Ok a little more information than my last question.

I have 73K from an Inheritance. I'm 18- going to college and basically the deal is that I'm short 3K each year, my family is going to get a student loan (All 3 of us got 73K) and after I graduate we are going to pay it off by spliting the 12 thousand dollar loan equally (to also build my credit history!). So I'm not looking into spending the money except to pay my portion of my tuition thats not covered by grants and stuff.
The money means a lot to me so I dont want to risk losing it. I have no idea what any of this investment stuff means or how to make a good share of money off of it.
Help? Suggestions? Advice?

I dont think you need to pay the services of a financial advisor. That is like throwing money out the window. You have already mentioned that you don't want to take any risks with your money.

That narrows your choices down considerably.

You can invest in Savings, CD's, Bonds........I think that is it. I don't believe you need to pay a financial planner to tell you that.

I would agree about getting advice from your parents or relatives who may know more, but personally, I think you would just be donating money to a financial advisor for information you can easily get for free.

Good Luck

This is money you want to keep very safe.

The only 2 recommendations I can really think of is:

1. US Govt. Tax Free Municipal Bond - currently they are paying more than the taxable Bonds, but this doesnt happen very often.

2 . CD You can look at some International CD Rates. I am personally going to invest in a FDIC Insured Icelandic Krona CD that pays 12.14% APY, however, it is vulnerable to currency fluctuations.

Maybe look at both of these, but I would probably recommend you take a good look at the Tax Free Municipal Bonds.

If you dont want much risk

For a relatively small investment of that $73K, you should retain the services of a good independent financial planner or C.P.A. - someone with YOUR interest at heart.

Make an appointment and ask him/her for sound investment advice.

A pretty good place to start is with the individual or firm who advised the person you received the inheritance from.

Another source - not necessarily the best - is to ask your family and friends.

The very last source you should consult is your own bank. They have nothing to gain, but managing your money and charging extravagant fees. They will tell you what to invest in which could benefit them more than you.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

Your best bet at this point would probably be to invest in a mutual fund. Do some research and look for the fund's and fund manager's past performance. Morningstar has some useful info on that subject. Good luck.

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