It was one of those things that I never counted on until it really happened.
I added $570,000 to my portfolio today (guesstimating after tax).
- $160k full time job (does not offer 401k)/ Wife stay-at-home mom
- I have a side-business that nets $100k this year. (Previous years was around $30k)
- $133k cash (I need to keep $60k in cash for tax + side-business short-term expenses. Do I have too much cash otherwise?)
- $306k in Vanguard (VTIAX, VTSAX, VWITX)
- $102k…err $87k….err $115k. Let’s just say $100k in BTC/ETH (I know, I know, I’m the devil.)
- 35/married/1 kid
- I started an individual 401k for my side-business that I’m trying to max this year. Not sure how it works but I read it’s a good idea
- I max wife/my IRA every year
- I started a 529 for kid
The big question. What in the world do I do with $570k?
I wasn’t planning on making any changes life-wise, so I will continue to work as normal and maybe take a “celebration” year off a few years from now. I like my job anyhow.
- For the IPO money itself, is it wise stuffing it all into Vanguard and just let it do its thing?
- Is putting all my assets in Vanguard too risky and should I allocate to other areas like real estate?
- Am I being too naive to think I know what I’m doing and I should just speak with a financial advisor?