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Jul 12, 2024
1:25
:11
pm
All-American
All-American
Vanguard's money market is over 5%.
Assuming you want to put it somewhere that he will be able to access and use it soon afterwards, that's what I'd do.
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All-American
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all_american01
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All-American
Joined
Sep 5, 2001
Last login
Sep 16, 2024
Total posts
15,301 (49 FO)
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Messages
Author
Time
My son is leaving on his mission next month and has the funds to pay his own way
cougarbob137
Jul 12, 1:23pm
Probably HYSA or CD. If you’re an Apple user they have a very user friendly
Warner
Jul 12, 1:24pm
Go to Vegas and turn it into some real money
BYUtiful
Jul 12, 1:25pm
That’s a win, win. Either he thinks he paid for his mission or you double his money when he gets back.
touchdownbyu
Jul 12, 2:03pm
RE: That’s a win, win. Either he thinks he paid for his mission or you
fattycoug
Jul 13, 12:13pm
Vanguard's money market is over 5%.
All-American
Jul 12, 1:25pm
RE: My son is leaving on his mission next month and has the funds to pay his own
PortlandCoug
Jul 12, 1:26pm
For just two years, almost certainly want to stay away from the stock market,
basman
Jul 12, 1:27pm
Whichever of your options has the highest interest as long as it’s no risk.
Powerbait DPM
Jul 12, 1:31pm
Depends on what the goal is. If it’s to provide long term growth and not be used for a long time (several years)
yapacoug
Jul 12, 1:33pm
I agree with this response. I often think how nice it would have been to have
AFewThoughts
Jul 12, 1:45pm
Additionally it would be nice to get those into a Roth IRA.
AFewThoughts
Jul 12, 1:46pm
Maybe your best move might be
rockhound
Jul 12, 1:34pm
It is semantics but I agree with this. Let him pay for his mission so he can
O Gaucho
Jul 12, 2:05pm
But for tax reasons the dad may want to actually pay it.
Coach's Dad
Jul 12, 2:11pm
My Dad agreed to pay for college if I paid for my mission. When I got my call to
O Gaucho
Jul 12, 1:34pm
Wealthfront has a HYSA that’s at 5%. Easy online access and transactions.
kotacoug
Jul 12, 1:39pm
I’d invest it. There’s market risk with volatility but this is a surprise, so he
palangi
Jul 12, 1:45pm
Yeah, I'd still throw $5500 into a roth.
AFewThoughts
Jul 12, 1:46pm
Thanks for the gift I can use in 45 years dad
YIsForBrigham
Jul 12, 1:53pm
Lol, 40 but yeah. His kid sounds like a hard working responsible kid so he might
palangi
Jul 12, 1:58pm
He can use it before then for certain purposes.
All-American
Jul 12, 3:12pm
Probably NVIDIA
YIsForBrigham
Jul 12, 1:52pm
We did this for my daughter and put it in HYSA.
BoiseCougar
Jul 12, 1:52pm
I would do something more aggressive because he's young. Buy some BTC, NVDA, LLY
dYrtbYkerYder
Jul 12, 2:23pm
You're already giving him 12K of good news on his return — that's the biggie.
d-coug
Jul 12, 2:37pm
HYSA. Index funds can have bad years, and 2 years is not a long time.
NumbersGuy
Jul 12, 2:41pm
25% in ETHE, 25% TSLA, 50% index fund
Thrill
Jul 12, 3:19pm
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