Investing Inheritance for Private School

From: Paul Apollo <apollopr@yahoo.com>
Subject: Investing Inheritance for Private School
Date: Mon, 13 Jul 1998 16:03:29 -0700 (PDT)

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Hi Listers,

My wife is about to inherit $50K+.  We live in a house free and clear
of mortgage.  We have no outstanding debt.  Our big expense is private
school for our children, at $20K per year.  Our total yearly income is
$55K.  We plan to save $1000 per month to pay this bill yearly, which
means we're $8K short per year. We may be able to save more, but can't
count on it at this point.  Also, mortgaging the house is out of the
question, as it is part of a family trust and the other family members
will not allow it.

Question: What's the best way to invest the inheritance in order to
help pay for private school?  This year's tuition is paid in full. 
The bill comes due every August 15, starting next year.  My kids have
7 and 8 years respectively until college.  College is taken care of by
family, so I don't need to worry about that expense.  But, I cannot
use any of the college money for private school, no way, no how.

And, where do I invest the $1000 each month, given that I will use it
each August?

Thanks for your wisdom and ideas in advance.  If you answer me
directly I will post the answer to the list.

Paul Apollo
apollopr@yahoo.com




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