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Well, if it was my kid going off to get drunk in college like most kids do their first year I would not risk that money in the market at all. Now is not the time to get brave and try to be a hero with your kids beer money.

Money markets at most brokerages are yielding 6+ percent without the committment of a CD, plus you get check writing.

conventional wisdom is if you need the money in the next 3 years stay away from the stock market.

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