Short-Term Savings for College

What can I do to prepare for my son's college education when I just have a year to prepare? Are there any type of investments I can make now that would give me a substantial amount for his education?

--A Parent Soup member
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Bruce Hammond

Bruce Hammond is an expert on college prep, applications and cost, and author of Discounts and Deals at the Nation's 360 Best Colleges and... Read more

There is nothing that can get you a lot of money fast that does not come with high risk. (If there were, everybody would be investing in it.) High risk/high reward is not an intelligent approach to short-term investing, especially in a market as uncertain as the present one. Your best bet is to stick with investments like C.D.s, money-market funds, Treasury bills or perhaps bonds.

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