investment for 38 year old
Hi Terry,
I am 38 years old , with about 35k in investments. About 20k of that is in individual stocks. 15k is in a vanguard account through an app called Acorns.
My issue is the individual stocks I have are not good and its dead money. Do i sell them, take the losses and move on?
I also owe about 68k on my home. Paying that mortgage is zero issue. I also have about 65K in CDs. Not flashy but safe.
I have zero car payments and no other debts.
Any suggestions or am I panicking.
Terry Says
Stocks are never “dead” until the company goes bankrupt, but you are absolutely correct that some stocks perform better than others. The tough part is figuring that out in advance!
I actually think you are at the perfect stage of life to get some advice from a fee-only FIDUCIARY financial advisor — someone who is not trying to sell you something. Please watch this video.
Then follow through with Pam, who will match you with the appropriate advisor. The is the only way I can be sure you will be involved with someone you can trust!
You already have demonstrated good instincts. Acorns is a GREAT way to build a portfolio. But now you need more advice — not only about which stocks to buy, but whether some of those investment dollars could be put inside a Roth IRA, where they would grow tax-free.
So this is a turning point for your entire financial future. I hope you will make the correct turn!
