Dear Dave,
I’m a sophomore in college studying agriculture business. I grew up on a farm, and recently I decided it’s time to sell a small cattle herd my dad helped me start growing when I was a kid. I don’t have any student loan debt, and I’m paying for school with lots of scholarships and some help from my parents. I can sell the herd for about $20,000, and I was wondering how you think I should invest that money for the future.
Colby
Dear Colby,
You know what? I think the best investment Colby can make right now is in Colby. By that, I mean I want you to finish your degree debt-free more than I want you to become a professional investor.
If I were in your shoes, I’d park the proceeds from your cattle sale in a high-yield savings account. Think of it as an insurance policy that will enable you to finish up school without taking out a bunch of student loans. I know that…
