Nana gave each of my three children $2,500 for their "senior" trip. This coming school year, they will be a senior, sophomore, and 5th grader. The goal is to save/invest their funds so that the kid can spend it on a spring trip their senior year.
For the senior, she's pretty much locked into a savings account at a whopping 1%. However, for the sophomore, we have a 2.5 year horizon and a 7.5 year horizon for the 5th grader. Suggestions? Best to just throw the sophomore's and 5th grader's funds into a mutual fund and letting it ride?
For the senior, she's pretty much locked into a savings account at a whopping 1%. However, for the sophomore, we have a 2.5 year horizon and a 7.5 year horizon for the 5th grader. Suggestions? Best to just throw the sophomore's and 5th grader's funds into a mutual fund and letting it ride?