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Stick The Money In An Index Fund And Give The Kid The Results. Life Solved
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Two weeks after the college admissions scandal broke, there's one participant who remains a mystery: Someone spent $6.5 million to get his or her kids into top colleges. $6.5 million?!? Here's the thing I wonder about: Instead of spending that kind of money just to get the kids into an Ivy or USC or someplace, you could hand your kid a million dollars and say, okay, kid, here's your seed money, go turn it into something. That would be cheaper, and honest, and if you have that kind of money to burn, your kid doesn't need to go to an "elite" school. Or, conversely, you COULD just give the school the money to name something after you; that usually works just fine. (Los Angeles Times)
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