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Message
Best thing to do with $2000 for 10 years
Posted on 9/22/16 at 7:50 am
Posted on 9/22/16 at 7:50 am
We just had our first child and my grandfather wants to give us $2000 for the baby but he doesn't want it touched for 5-10 years. He initially wanted us to open up a savings account for the the baby because he thought it would be drawing 5% interest (He's 92 and hasn't caught up with the times 
). I realize that $2000 isn't a lot, but what is my best option if I want it to sit 10 years and draw interest?
). I realize that $2000 isn't a lot, but what is my best option if I want it to sit 10 years and draw interest? 
12
Posted on 9/22/16 at 8:02 am to ForeverLSU02
I'd put it in VTSAX (total stock market fund at Vanguard)
Posted on 9/22/16 at 9:20 am to ForeverLSU02
Your child doesn't know anything about the money and grandpa is old.
Beer and coke
Beer and coke
Posted on 9/22/16 at 9:54 am to ForeverLSU02
SSW (Seaspan Corporation) maybe. It's a deep sea freight company, and deep sea freight has been hurting with a slow global economy. If the global economy picks up, they should do well.
They've got a lot of debt, but tangible book value is $17 and dividend yield is > 10%. Shares are currently just under $14. I expect the dividend to get cut some, but the yield would still be really good. Do some research to see if there are risks I'm not seeing and to decide if you're comfortable with it.
They've got a lot of debt, but tangible book value is $17 and dividend yield is > 10%. Shares are currently just under $14. I expect the dividend to get cut some, but the yield would still be really good. Do some research to see if there are risks I'm not seeing and to decide if you're comfortable with it.
Posted on 9/22/16 at 7:56 pm to ForeverLSU02
Why ten years? What's a 10 year old going to do with 3 grand.
Put it in a 529.
Put it in a 529.
Posted on 9/23/16 at 11:46 am to ForeverLSU02
Probably put it in some Apple Stock
I bet you at least make a double
I bet you at least make a double
Posted on 9/23/16 at 1:06 pm to ForeverLSU02
Open her an account at a credit union. My 2 year old has her an account at the teachers credit union which always has great interest rates. She will be a member for life.
Posted on 9/23/16 at 2:58 pm to ForeverLSU02
My grandparents invested money for me in MIGFX (Massachusetts Investors Growth Stock Fund) for a few years as a "College Fund". It has made a good bit of money over the years. I still haven't cashed the whole thing in yet. Waiting until I either buy a house or go back to grad school.
Posted on 9/23/16 at 3:04 pm to ForeverLSU02
GOOG or AAPL stock after the next stock crash after elections.
Posted on 9/23/16 at 3:05 pm to ForeverLSU02
Bonds.
This post was edited on 9/23/16 at 3:06 pm
Posted on 9/24/16 at 11:55 pm to ForeverLSU02
Buy Bitcoin.
Posted on 9/25/16 at 1:50 am to ForeverLSU02
Somewhere shielded from the near future $$ crisis
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