How to manage my finances to pay for grad school
I will go to grad school next year, and I have been wondering how to manage my finances so that I can pay for grad school ($50,000); and I am on my early forties. At this point I have saved $25,000, and can manage to save around $1,000 monthly. I don’t have to worry about paying taxes since I worked at an international organization, but would very much find some creative/moderately safe ways to invest the money and pay for my school.
Answer:
I think the MBA is good and you will have the capability of paying back your loans. It would be conservative if you think you will need the money. If you have a house then do an equity loan or the college loans have low interest and invest some of the difference. You do have to be careful to protect your principal unless you have some other options for using other peoples money and allowing yours to outgrow the loaned amounts, if not stay conservative and just pay it back once you graduate. Don’t take risks without a plan.