Inheritance windfall/High assets - LOW income

thumper1
Mon, 19 May 2008 11:27:36 +0000

If you put $700,000 into a savings account at 5% interest, you would get $35,000 in interest each year. $500,000 would get you $25,000 a year interest at 5%. I’m not sure why you wouldn’t want to somehow put at least part of this money into an interest bearing account and help pay for your kids to go to college with that money. Why???