Hi everyone, Over the past few years I've made quite a few risky (and likely stupid) investments. Seeking guidance and tips on what to do to build a healthy financial system from this point on given this recession. My goal is to buy a $600-800k investment property by the end of the year with 5% down payment. Here's my current portfolio breakdown: $53k in cash that I'm holding onto for a down payment $150k in Robinhood (down $11k) $23k in a self managed tech fund I created in M1 (down $6k) $22k in Amazon stock (from my previous employment, down $12k) $84k in my 401k (down $21k) $16k in crypto (down $20k) $33k in Snapchat stock (from my current employment, down $78k) Total investment holdings: $328k Total investment losses: $148k Total cash: $53k What's bothering me right now is that most of my investment gains on Robinhood come from Tesla and Microsoft. I have holdings in a variety of index funds that are all down, including individual investments in companies like Apple, Palantir, Robinhood, and Nio that are all down in the low thousands each. Should I sell the risky ones and DCA into some more index funds? Thanks in advance for your help. TC: $365k YOE: 4 #personalfinance #investments #stockmarket #stock
Whatever else u do, don’t buy house in the next 6 months or so
Is that because both interest rates and house prices are really high right now? I'm thinking that the more I wait the more I'll miss out on the long run.
There was a sweet spot in August. Rates were 2 percent below current and prices had dropped 30 percent from apr 2022
Buying an investment property with 5% would be another horrible way to invest your money.
What is the minimum you would recommend paying as a first time home owner? I thought it would be better to take advantage of those opportunities and pay as little up front cash as possible as long as it doesn't impact your monthly payment too significantly (as to how much, I don't know yet)
First time home owner!= investment property. Look at the total cost. Monthly payment management is as fast way to throw bad money after bad .
If you study this website it can provide a different perspective http://www.kondratieffwavecycle.com/stock-market-big-picture/
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I don't really understand your question. Do you need the money right now? If so then you have no choice but to sell. Otherwise, why would you sell in this market? Pretty straightforward
I don't need the money right now, but I'm wondering if it's wiser to sell my more risky individual company investments and DCA that lump into more index funds. Maybe to take advantage of the longer term benefit as well as the $3k tax deductions over the years?
If I were you I'd probably delete my investment apps and check on them next year