FINANCIAL ADVICE FOR THE COLLEGE HOG FAN

[amiley]

I'm 21 and in the middle of my college career. I have a small sum of money that is in a high intrest savings account and the current interest rate, a little over 5%, is about to expire. With the economy being what it is, i haven't seen any other interest rates near what I have. Any advice or suggestions on how to move forward would be greatly appreciated.

[hogdave]

If your not afraid of stocks try PBT or BPT.  They are oil field royalty trusts and both pay a yeild over 10% much better than any savings account or CD would ever get you. 

Is there not an investment/finance club on campus?  You could get good ideas from them.

[cdhogfan]

I'm 21 and in the middle of my college career. I have a small sum of money that is in a high intrest savings account and the current interest rate, a little over 5%, is about to expire. With the economy being what it is, i haven't seen any other interest rates near what I have. Any advice or suggestions on how to move forward would be greatly appreciated.

Do you have any debt?

[amiley]

no

[cdhogfan]

I would keep some in a money market for an emergency fund and put the rest into a mutual fund, perhaps even start a Roth.  Go to your local Arvest Asset management office and they can set you up.

[amiley]

I would keep some in a money market for an emergency fund and put the rest into a mutual fund, perhaps even start a Roth.  Go to your local Arvest Asset management office and they can set you up.

do you work for arvest?

[cdhogfan]

do you work for arvest?

No, but I do use them and have always been happy with their service. 

[cdhogfan]

or you could save that money for a down payment on a house or something if you think are close to settling down.  could get a good deal on a house now.

He could always get the money out of the Roth (the portion he contributed) if he wanted to purchase a house.

[amiley]

what about a bond from the government? like and i bonds, or treasuries.

[HogNuttz]

If your looking for percentage returns and possibly a little extra as a bonus, google "dogs of the dow".

This method works great if you plan on leaving your money in stocks for a while, provides decent return, but also allows you to pull your money out in an emergency situation.

[cdhogfan]

just don't blow it all on booze and whores.

Well, at least not all of it.

[amiley]

just don't blow it all on booze and whores.

Well, at least not all of it.

i have another account for "special" expenses.

[cdhogfan]

what about a bond from the government? like and i bonds, or treasuries.

I would think as young as you are that you could stand something with a bit more risk.

[amiley]

thanks guys, i'll start looking into some of your suggestions.