I have $50.000 and need $1.000 every month without losing anything.?

Question

I'm going to university in France where I can't work in for 4 years and I have saving of $50.000. Can I get $1.000 as a living cost every month by investing without losing anything from the saving of $50.000? I have never done anything on investing but I need new idea because I can't work for 4 years in France. Thanks for your advice.

Answer 1

The safest investment with the highest return would be a money-market mutual fund. With this, you have the option of making the funds liquid at any time, without penalty. Unlike a certificate of deposit or the like, where your money is inaccessible for a certain period of time. You can also have that money-market mutual fund set up to have the $1000 you will need each month, directly deposited into your checking account, or have a check mailed to you each month. One thing you must do is read the prospectus that comes with the application, and of you have any questions, ask them before you sing anything, they are more than happy to answer your questions if you are unsure about anything.

Answer 2

Hey,
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Bye

Answer 3

Current rates on a $50,000 deposit are around 5% so this would generate only $2,500 a year. This may also be liable for tax depending on whether you have any other income. If we assume that it is tax free and you draw down $12,000 a year then at the year 4 you would have about $9k left from the initial $50k.

Principal Interest Balance (after $12000 drawdown)
50,000 2,500 40,500
40,500 2,025 30,525
30,525 1,526 20,051
20,051 1,003 9,054

This is really tight - are you sure that you can survive on $12,000 a year. You need to make sure that you have your finances sorted out before you take up the place - the worst thing that could happen is that you run out part way through and don't finish.

Check what other sources of support may be available. The university should be able to help you with estimating living costs - but there may be other costs such as travel that you need to factor in - and they may have details of scholarships, bursaries to apply for. It is also worth looking whether there are any of these in your own country.

There are also often cheap student loans which are worth looking at. Remember that this is an investment in your future so you also need to make sure that the degree is one which will lead to a career that jutsifies this investment. For most people that is the case but need to go in with your eyes open.

Can you find a position as a live in "au pair" where in return for helping with looking after children etc. you get free accommodation and some spending money?

Answer 4

All investments have a potential for loss. Generally lower the means a lower rate of return. If you keep your money in a mattress you would run out of money at the beginning of your fourth year.

I would suggest that you place your money in a CD that is guaranteed by the US government. If you go to bankrate,com you will find 12 month CDs yielding as high as 5.65 %. That is high enough while providing you with safety. You shoud only invest $38,000 in the CD since you will need $12,000 for expenses during the first year. At bankrate you will be able to find out about savings accouts that you can use for the $12,000. You will be able to withdraw the savings account money subject to a few restrictions. Read them carefuly.

No one knows how the savings account rate will fluctuate and
what rate you will be able to get when the one year CD expires. You can also check out longer term CDs but I believe that you will be getting a lower rate of return but on the other hand it provides more certainty for you.

The investment listed above are very safe but the rates do vary as explained.

Perhaps you may want too invest a little extra in the savings account and a little less in the CD since you are not certain about your expenses particuarly during the first year,

Good luck. In spite of the dislike that many Americans have in France it is a very nice county.

Answer 5

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Answer 6

Talk to a variety of insurance agents. They can set you up with an annuity. I don't know exactly how much you'll have left after four years, but *they* can. Maybe you can end up with $10K or $20K left. I don't think you're likely to still have $50,000, though.

Answer 7

I could introduce you to Europe based traders whom could use your funds for buy and sell of banking papers at a minimal rate, or buy stocks and sell it, they handle the risk, also in Hongkong where we can use your fund to go into commodity business and give you returns at the End of the month, all transactions are done by bank to bank.

Answer 8

Easy. Gimme the 50,000 and I would give you 1,000 for the whole year in college. Anytime