Ok so in August of last year I asked a similar question on the forums about what I should do in my situation. The two suggestions I got were to sell my holdings in Apple and invest in a Vanguard index fund. I took a chance and didn't do as I was advised. So far I am better for it but now. I'm coming up on the 1 year mark for my Apple stock and I think it may be a time to evaluate options. I will definitely hold onto the Apple stock until at least the 1 year mark which is next week I believe so I get that tax break at least but beyond that I'm not entirely sure. I'm going to repost what I did before but with edits for my current situation:
Alright, so about a year ago I thought of possibly purchasing a condo, I've since decided that I will hold off for a better time. I am 27 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 $38,934 + about $10K in commissions yearly. I have some side jobs that come out to about $5000/year. I do have 401K benefits of 100% match up to 7% of total pay. My financial situation is as follows:
Cash: $38,513
Stocks (current market value): $78,448 (Apple, +56.11% since acquisition), $3,267 (GLD, gold, -32.90%), $6,659 (C, Citibank, +14.23%), $558 (BAC, Bank of America, -86.66%). Total market value about: $88,932
401K: $49,515 in S&P 500 index fund about 1.71% growth so far this year. My contribution rate is 10% into a Roth 401K. I am not contributing to a IRA.
I am currently renting: $494/month which covers all utilities
All other expenses average about: $700/month
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? I have a growing stockpile of cash which I feel I should be putting to better use but not sure how. I'm considering putting about $30,000 into a Vanguard index fund but then that would mean over half my money linked to the S&P 500. Not sure if that is the best idea. I would like some suggestions with sound reasoning to think on. Thanks so much.