How do I manage $1,000,000 that is currently being managed by a financial advisor?
I’m 30 M, living in a relatively high cost of living area. I’m married with a wife and child. I inherited several hundred thousand dollars a few years ago from a deceased relative, and I parked most of my money with a financial advisor recommended by my parents. We are currently looking to move away from the financial advisor in order to have more freedom in managing our assets.
I’m currently not working - I made the decision to go back to school to double my income (expected base salary when I graduate in two years is ~$250,000) (healthcare).
In the meantime, I am withdrawing around $8,000 a month from my investment accounts to cover for my mortgage, school tuition, and other living expenses. Is there a way to automatically sell stocks or a portion of my portfolio to cover my expenses? If the money is primarily invested in an index fund, do I have to pick which stocks to sell? How do I go about selecting which stocks to sell?
Submitted August 08, 2021 at 11:42PM by Such-Reflection8838 https://ift.tt/3fFMpvx
