This might seem like a shameless plug for the Army, however, I thought I would share on how you can boost your child into the world of the independently wealthy:
Have them apply for and accept a National Guard 100% tuition assistance scholarship. This covers tuition, books, and provides a monthly stipend for miscellaneous expenses.
Next, have them apply for student loans each semester. They should accrue at least $10,000/year. Put that money into a high yield mutual fund that yields somewhere between 14-16%.
In 20 years, your child will have at least $900,000 sitting in that investment.
Have them apply for and accept a National Guard 100% tuition assistance scholarship. This covers tuition, books, and provides a monthly stipend for miscellaneous expenses.
Next, have them apply for student loans each semester. They should accrue at least $10,000/year. Put that money into a high yield mutual fund that yields somewhere between 14-16%.
In 20 years, your child will have at least $900,000 sitting in that investment.
