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By Terry Savage on September 10, 2020 | College Savings / Student Loans

We are saving for the last 2 years of college for our son. I would like the money we are saving to work harder than what it isn’t making in our savings account but I want to protect the principle as much as possible. I would be willing to invest $10,000 somewhere. 2 questions – where should I put it and should I wait until after the elections to see what happens to the market? Thank you,

Terry Says

So the first question I’m going to ask is: “How much are you willing to lose?”
If the answer is NOTHING, then you have to just accumulate the money in a money market account where you will earn almost nothing — but you can’t lose a penny.
Since your time horizon is so short, don’t start risking money in the stock market. Over the short term, the odds are against you!
And even more so, because the markets re going to be more volatile as the election approaches.

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