It is semantics but I agree with this. Let him pay for his mission so he can

Sign up, and you'll be able to ignore users whose posts you don't want to see. Sign up

Report problem with this ad

Jul 12, 2024
2:05:54pm

O Gaucho All-American

It is semantics but I agree with this. Let him pay for his mission so he can

feel that sense of accomplishment at giving to the Lord and the people he is serving. Meanwhile invest what you would have had to pay for his mission into an account like you are describing. He can forever say that he paid for his own mission with his hard earned money and that his parents rewarded him for it afterward.

This message has been modified

Originally posted on Jul 12, 2024 at 2:05:54pm

Message modified by O Gaucho on Jul 12, 2024 at 2:38:14pm

Report problem with this ad

O Gaucho

Previous username: 93 cougar
Bio page: O Gaucho
Joined: Dec 11, 2002
Last login: Aug 5, 2024
Total posts: 18,099 (340 FO)

Report problem with this ad

Messages

Author

Time

My son is leaving on his mission next month and has the funds to pay his own way

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.

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%.

Jul 12, 1:25pm

RE: My son is leaving on his mission next month and has the funds to pay his own

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

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.

Jul 12, 3:12pm

Probably NVIDIA

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

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

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad