Hi ! I have read through all the material on this subreddit and I still have a few questions.
My situation: I am one lucky person. My grandfather gifted me a stock portfolio to help pay for college when I was young. However, I ended up with a full scholarship to college and I did not have to dip into the portfolio at all. When gifted to me, the portfolio was mostly Microsoft stock and every year or so I have reinvested the dividends in stocks that I liked (Think Google, Amazon, Twitter, etc.) The portfolio has continued to grow and is now worth ~ 260 thousand dollars.
Recently I have realized, I have gotten extremely lucky with my investment strategy. I consider myself good with money, but I know little to nothing about finance and analyzing a company. I also know little to nothing about diversification and low-cost index funds.
As of today, the portfolio is 85% tech stocks including 50% MSFT. There are a total of 15 different stocks in my portfolio, including some that I inherited that I know nothing about.
I know that in the grand scheme of things, 260k is not a whole lot of money and I want to try and act as if I don't have it. I want to do minimal work so it can optimally grow the portfolio for the next 6-8 years as I explore my twenties. I see the portfolio as something that I will think more about when I have a plan (getting married/buying a home/going back to school), I will use some of the money towards my plan, and I will donate a large portion of what is left.
I am currently living at my uncle's house as I prepare to figure out my next plan. I graduated with an employable degree and I have been cleaning up my resume and am starting to think about jobs. I would like to move from my uncle’s house in the next couple months but he is happy to have me home.
So far I have dipped in to the funds a little bit for self-investments. I have never traveled outside the country, so I used 6000$ to travel the world for four months. I have also started therapy to deal with anxiety/depression. I think both of these investments will have big ROI. I already feel like I am much happier than I was the last few years. :)
I had a few other ideas of ways I could self invest. I want to get better at cooking so that I can save money making food that I like to eat. Also, I want to get more financially literate by reading books and learning about investment strategies. Finally, I have a few research project/business ideas, but I am not sure if it is worth time exploring these ideas full-time, or finding a job first so I am gaining work experience simultaneously.
So, I am looking for advice on how I should handle this portfolio? How should I maximize my portfolio for the next 6-8 years? Should I rebalance the portfolio? Should I sell any of the stocks? Should I consult an advisor? Should I do nothing and forget about it as I learn more about finance and have a better idea of how to manage it in the future? Do you have any books you recommend for my situation?
Given that I am young and have unclear mid/long term goals, do you have any other advice for my early twenties? I am overwhelmed and grateful for the possibilities.
Thank you!
Submitted September 14, 2019 at 07:10PM by LuckyJeanClub https://ift.tt/30jOFxM
