A Reader Writes:
My Mother filed for child support 5 years ago.  I am now 18 years old.  She only collected $5,000 which she put into an account and gave to me on my birthday.  It is the only money that my father has ever provided and I have no relationship with him.  What should I do with it?
Deadbeat Hunter says:
Let your fathers legacy to you be a great start in retirement investing, so don’t blow it. That $5000 today is going to be worth tens of thousands by the time you retire, but only if you leave it alone.
Lets assume you invest the money conservatively and retire at age 65; if it earns the 200-year average rate of return (~10% a year), then even if you never saved another penny, you will have $3.6M when you reach retirement age.  Bravo! This speaks to the point I have always made that even those parents who don’t need the financial support from the other parent to raise their children should pursue it for the sake of the kids.  Even a small amount can go a long way and your kids will thank you for it.