529 Plan and College Savings

Question: Question about survey of personal financial planning. Help please. Thanks a million!?

U’ve an attorney friend calls you and tells u that he has won a net judgment of $200,000 for a 2yr old boy whose parents were killed in an auto accident in the L.A. area. The judge has requested the attorney to provide the court w/ a recommendation as to how the money can be invested. So the attorney will make a recommendation b/w the Washington Mutual Investor’s Fund of the American Funds Group (A shares) n the Vanguard Index 500 Fund of the Vanguard Family. The grandparents have indicated that they would like the investment to be used to enable the boy to attend Harvard University.
The attorney would like you to prepare an analysis of both funds in such a fashion that he can use it to submit his recommendation to the Court. Be sure and cover any other issues you deem relevant. Assume for this assignment that a Section 529 Plan is NOT available.
He needs your recommendation. If you were me, how do you do that? Longer is better. Thanks a million!!!

Answer: I would do it by getting information on each fund, studying it, and then writing a good report with my analysis. You may want to do it differently, but in any case you are the one who has to do it. It is your assignment, and trying to get someone else to do hours of work for you is not ethical.

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