I am 25 years old and just recently inherited quite a bit of money after my mother passed away recently.
Talking to the estate lawyer I found out my mom has quite a bit in stocks. She had most of the money in 4 major companies.
Amazon: 1,146 shares = $3,672,242.40
Apple: 25,784 shares = $2,966,191.36
Comcast: 68,745 shares = $3,097,649.70
Disney: 15,487 shares = $1,987,756.45
and about 10 other companies totaling a combined $1,594,392.34
I now find myself worth over $13.3 million. Before this I had $21,000 in my savings account. (I worked as a business analyst and still lived at home as I was saving up for a down payment on a house) I do not know much about stocks but I am using the same financial advisor my parents used.
I feel as if I won the lottery and am not sure what to do with this money. I know there is an election coming up and I do not want to lose it. $13.3 million is enough for me to live forever and pass it down generations.
My advisor is telling me NOT to sell anything unless I needed money for something (such as a down payment for a house) as the market always corrects itself over time. Is he telling me this so he can continue getting his 1.5% fee? What is everyone opinion on this. These seem like good companies but I can't lose what my parents worked so hard for.
Submitted October 24, 2020 at 10:46PM by Blanketflower20 https://ift.tt/3oryNXl
