How to live on 200k over 3 years

[miracle2018]

I will be living on approximately 200k over 3 years while I go back to school full time. What type of investment should I put my money in to make the most of it, while of course keeping it fairly low risk since I need it to survive. This is starting next fall (2024). Thanks!!

ETA I will have the 200k just before starting school.

 

[xerena]

@miracle2018 How have you managed to save up 200k for school and don't know how to live off it for 3 years?

 

[miracle2018]

@xerena I am selling my house and I am not worried about how to budget the money, I just want to make money on my money while I'm at it

 

[xerena]

@miracle2018 Fair enough.

 

[grams]

@miracle2018 Depends how much you need to live off of each month? Easiest would be CASH.TO as it'll basically pay you a dividends each month while keeping the cash pile pretty safe and not needing to lock in your money

 

[miracle2018]

@grams I will look into this, thank you!

 

[fredomb38]

@miracle2018 Put half in GICs and you get an extra 10k or so. That might not get you the 'most' but it is guaranteed money. You could lose 20% or more in stocks/equities.

 

[miracle2018]

@fredomb38 Thank you!

 

[sorbera]

@miracle2018 You don't really need to invest the 200k to live on it for 3 years. You could ideally live on that over 5 years if you budget accordingly and can rent a room or studio. But, if you do want to invest, consider putting it into a GIC or HISA. Tangerine has a starting rate of 6% right now for 5 months.

 

[miracle2018]

@sorbera Thank you!