hello blind folks... i have around 90k uber stocks as i am an old dog.. hired in 2014 Jan.. at current price i am looking at somehwre around 2.8M.. My family and friends know i have a tonn of uber stock but they guess i would have around 1M.. keeping the stock price aside, assuming i sell all my stocks and get the big chunk rightaway.. is it safe to store in a bank? knowing most banks are secured upto 250k? my bank is wellsfargo.. what are my alternatives to store this cash and get good returns? current tc - 378k
Dafuq. Go get a money manager
Recommendations?
Citi or UBS Wealth Management. Both are famous for high net worth individuals.
How about buying physical gold? One Kg of gold would be around $45K.
That story rocks so hard. Congrats, I’d try the bogleheads forum if you want real advice, you’re obviously a novice in this area.. Be careful with anything drastic, just learn up first, maybe get a good banker and don’t be vocal about it at all.
Thanks.. I am just seeing what other people have to say.. not going to blindly follow anything as such..
Grow it. Put about $250k in wealthfront (2% apr), $250k in betterment. Use crowdfunding real estate sites like crowd street to fund upto $1M of properties. Spend anoother $1M on a multi family rental property worth upto $4M. And enjoy $300k - pay off your loans if need be. However I'd recommend letting a small chunk of Uber stock ride. Say 15-20k of it. It could end up at $50 in a year, never know.
Thanks for such good advise. I will screenshot it.
That’s is detailed, but not good advise. If anything to take away from it, I’d recommend to follow the implicit advice to diversify from your currently highly concentrated and hence risky investment. Learn how to diversify properly, which is not wealth front + betterment + real estate.
You need a financial advisor. Unless you are super rich, holding $2.8M of a single stock is nuts.
if you want hands off, you probably qualify for private banking at almost all institutions that offer it
Diversify. Us stock ETFs, us bond ETFs, hysa , reit, annuity, crypto, emerging markets ETFs, global ETFs. Also it's 250k insured per account.. not per individual. Open as many as you like with different banks.
I like that advice in general, but the issue here is that you 1) have far too many asset classes and 2) mix entirely speculative stuff (crypto) into the mix. For someone who’s a beginner, a typical 3 fund portfolio at Vanguard that’s rather conservative (60% stocks) is better. Btw, it also depends on your current earning power and your future earning power how risky you want to be.
Founder sold 1.5 billion worth You should do the same Keep 400 k ish to let it ride
Don’t sell. Uber stock has a lot of upside over time. Hold it and make 2-3x in 5 years or less.
Storing cash = 0 returns. Buy index funds in global market(s).
I meant cd or monkey market deposits diversified and get 1-2% annual return? Ok let me see the index fund thing..
Look up Bogleheads 3 fund portfolio Also look up "How to deal with a windfall" on the same site.