Recommendations for $40k for long term - **thank you for the advice! He doesn’t need to “live off” the bonus as he gets paid every two weeks and for the time being has no expenses other than paying for his internet and his car insurance. His car is paid for, an old, well maintained Volvo. We will look into IRAs and investment accounts, as well as explore specific military programs. Appreciate all your input!
My 18-year old will be getting a $40k signing bonus with the US Coast Guard. He is debt free and will most likely remain so, what with the majority of his living expenses and college paid for. He will not likely need to touch this money for a long time, so we are wondering what is the best investment / savings vehicle for him?Personal Finance
Recommendations for $40k for long term - **thank you for the advice! He doesn’t need to “live off” the bonus as he gets paid every two weeks and for the time being has no expenses other than paying for his internet and his car insurance. His car is paid for, an old, well maintained Volvo. We will look into IRAs and investment accounts, as well as explore specific military programs. Appreciate all your input!
My 18-year old will be getting a $40k signing bonus with the US Coast Guard. He is debt free and will most likely remain so, what with the majority of his living expenses and college paid for. He will not likely need to touch this money for a long time, so we are wondering what is the best investment / savings vehicle for him?
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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