Alright, so I did post about 4 months ago about possibly purchasing a condo, I've since decided that I will hold off for a better time. I am 26 and a resident of the suburbs of the Los Angeles area, no children, single, no debt, college degree. I work at a job that pays a base of $37,800 + about $12-16K in commissions yearly. I have some side jobs that come out to about $600/month. I do have 401K benefits of 100% match up to 6% of total pay. My financial situation is as follows:
Cash: $23,424
Stocks (current market value): $62,222 (Apple, +23.82% since acquisition), $3,485 (GLD, gold, -28.42%), $6,411 (C, Citibank, +9.87%), $555 (BAC, Bank of America, -86.73%). Total market value about: $72,673
401K: $38,000 in S&P 500 index fund about 10% growth so far this year.
I am currently renting: $494/month which covers all utilities
All other expenses average about: $700/month
It was really on a whim that I made that move into Apple as I had about $30,000 for close to 2 years and it went nowhere and I ended up selling it to just break even. I decided to acquire more and I'm at where I am now. Its recent rise makes me very nervous about what could happen after the next product cycle comes out and if the stock sees another major correction. At the same time I like the dividends it is paying and I bought it in April of this year so I need to wait till April 2015 for long term capital gains taxes which will save me about $1000 assuming the price stays the same but more if it grows and I can also delay paying the taxes on it until 2016. If I do hold off until April 2015 I will likely sell everything at that time to offset the capital gains with losses.
The problem is if I sell now the only thing I can think of putting it in is a Vanguard S&P 500 fund which is optimized for more long term returns.
In the near to long term future expenses:
I still have ambitions for my own home but I'm being much more cautious about it however I'm not against taking a good opportunity.
I am eventually going to go back to school to get my MBA which may happen in the next year but I plan to continue working full time at which time I may move back home to cut expenses.
What do you guys think is the best thing I should do with what I have?
