I'll try to make this short and to the point.
I'm a 22 year old student and currently living with my friends family until I'm finished with school. My grandmother passed years ago. She left me some money to get through school and to help me start life off in the right direction. I have currently $35,000 that is managed by an adviser. $10,000 is in a cash account while the rest is in a mutual fund. The $10,000 is to help with tuition for my final year of school. From what I understand, to avoid penalty on the $25,000, I must stay in the fund for a year (from March). By next August I will be done with school and by that time, I'm planning to have about $6,000 in my personal savings.
I'm wondering if I should liquidate the account (after the penalty deadline) to help put a down payment on a house. I would invest what is left over on my own. Some alternatives would be to keep it all invested and under the supervision of the adviser. Or take out what I need for a down payment and keep the rest under his supervision. Thoughts ?
Submitted June 10, 2017 at 10:39AM by DualBandWiz http://ift.tt/2t6fFAM
