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#21 Oct 17, 2007
More than a college degree, I'd recommend a good financial advisor. Live off the interest, kid! Don't dip into principal!
#22 Oct 20, 2007
WHY? Again I ask, is it to secure a future? You don't think 12 million dollars does that nicely?
Let's do some math-teacher,
12 million divide by half for taxes
leaves 6 million,
take out a million in spending on a house, car, some other nice toys and that leaves 5 million.
5 million in about any account with a money manager will generate 10%, that means he has $500,000/year- forever!
Let's say he doesn't want to put it with a money management group- just T-bills (the only way those fail is if the United States collapses and if that happens his money will be the least of our problems), 5 million, currently at 4,185% on T-bill rates generates $209,250 per year. Still not too shabby!!
Beats the heck out of that salary you're knocking down, teach!
So again I ask, why does he need to go to college - unless he just wants to?
Bill Gates has done ok without it, hasn't he?
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