. >> collette is with us. i want to welcome you. how are you doing? >> caller: fine. thank you, clark. thanks so much for taking my call. >> yes, ma'am. how can i be of service? >> caller: yes, please. i was calling to get advice from you. my 9-year-old daughter had an accident in 2006. >> oh, is she okay? >> caller: yes, she is. thank you. we just had a court settlement and just wanted to ask the best way to save this money for her. >> did the court specify a purpose for the money for your daughter? >> caller: no. it's just that it has to be for her. >> and how old is she now? >> caller: she's 9. >> 9. what would you like the purpose of this money to be? >> caller: to save it for her in an account to use it for school or maybe later in life for her wedding or something like that for her. >> so pretty far down the road. >> caller: yes. >> and the total amount after taxes? >> caller: it's 17,250. >> most often what happens when someone gets a settlement like this, the lawyer who negotiated it for you will try to hook you up with an insurance person, who would then sell

. >> collette is with us. i want to welcome you. how are you doing? >> caller: fine.for taking my call. >> you're welcome. how can i be of service? >> caller: i was calling to get your advice. my nine-year-old daughter had an accident in 2006. >> is she okay? >> caller: yes, she is. thank you. we just had a court settlement and just wanted to ask the best way to save this money for her. >> did the court specify a purpose for the money for your daughter? >> caller: no. it's just that it has to be for her. >> and how old is she now? >> caller: she's nine. >> nine. what would you like the purpose of this money to be? >> caller: to save it for her in an account toe use it for school or maybe an account for a wedding, something for her. >> so pretty far down the road. >> caller: yes. >> and the total before taxes? >> 200, $200, 7$200,719. >> what i prefer instead is because your daughter is only nine and the goal is longer term in nature that you look into putting the money into a mutual fund for your daughter. in her case there is one in particular that i would like you t