If you had around 10,000 would you use it to support yourself & attend college for 2 yrs or invest in property

I am getting out of the military with an AA. My next goal is to earn a BA. I have the GI bill and an enlistment bonus that will pay for most of my college expenses. I will only have about 10,000 for personal use when I get out and I can either invest it in life insurance,the market, and live off that for some time while focusing on my studies and not work or I can try to put down a down payment on a house go to school and keep a part time job. Which would be the better investment? Im 23 and I have about 12,000 in an IRA right now.

Don't use it "for property." Now is not the greatest time to be getting into real estate in most parts of the country. Besides that though, you're 23. Be young and flexible for awhile. Save money and rent or save even more and live with friends/family. What if you graduate and get offered an amazing job in another city/state?? You don't want to have to sell your house or rent it out and risk losing tons of money--or foreclosing and ruining your credit. Besides, no part time college job is going to support a mortgage, property taxes, insurance, and maintenance on a home. You'll have to work all the time--causing your grades and social life to suffer.

I wouldn't live off the money either. You're lucky enough to have college paid for, so I would work part time to sustain my eating/drinking and otherwise low-cost lifestyle. It's hard to save up $10,000 and it could take you years after school to build that up again if you blow it in college.

Don't buy life insurance! I don't know what product you are referring to, but unless you have a wife, children, and/or a family whom you support financially, there's no reason to ever buy life insurance. Young single people don't need it. Even when you DO buy it, you pay a monthly premium for term insurance--you don't put down $10,000.

Here is what I WOULD do: I'd make sure I maxed out my Roth IRA contribution for 2007. Then I'd put the rest in a high yield savings/money market account. There are tons of things you could and will potentially need cash for in the next few years (meaning too short a time to bet it on the market). You may need it for moving/relocating costs after college, to support you while you seek a full time job, for the downpayment on a home, for an engagement ring, for a spring break trip, for a medical or personal emergency, to buy a car, etc. You don't want to have to go into debt when those things come up.

Use it for personal use, but don't spend it all in one place now.

Lizzgeorge had a great answer. I agree with just about everything and wanted to add that I'm in a very similar situation. I am returning to school for a Master's and have about $15000 saved up. I'm not going to spend all of that money for my personal expenses in school - I think that would be really unwise. Like Lizz said, I've got it in a money market account and some in a high-yield savings (I use ING if you're interested.) I'm lucky enough to have school paid for (I'm doing a graduate assistantship) and I'm taking out subsidized loans (low interest) to cover many of my expenses. After much debate, I've concluded that this is probably the best way for me to go about things. Good luck to you and please e-mail me if you have any questions.