So I am very fortunate to have a mother that put away money with a broker for me before I was even born. The investment has grown to 60k and I’ve been thinking of managing the 60k myself, but I’m not comfortable committing to something like that without some objective feedback.
To give some background, I work remotely and still live at home (so I don’t pay rent). Additionally, I’m not a big spender, so I save the majority of my income. It wasn’t until August 2022 that I started taking my finances seriously and began investing the money I saved into a Roth IRA and a standard individual account I manage myself.
I’ve been maxing out my Roth IRA, so I’ve been splitting the remaining money between my individual account and the account managed by my broker. Although I am new to investing and half a year isn’t enough to gauge portfolio performance, my portfolio has done relatively well (currently up 3% after 5 months). But more importantly, I figured out an investment strategy that I feel works for me considering my age and low expenses. It’s pretty simple, just DCA and don’t stop, no matter what just keep buying.
So that brings me back to my question. Would I be better off taking out the 60k and just applying my buy and hold strategy to this account? The brokerage account is only made of 7 ETFs, while the account I personally manage has 20 different stocks. Additionally, my broker makes very little activity there and I don’t really want to pay to have my money sit there. On the other hand, I’m still a novice investor and I’m not sure if immediately taking on that much money is responsible.
Thank you in advance for any advice/help y’all can offer and sorry if this came off a bit rambly, I just wanted to make sure the full context was there since it’s a bit of a weird scenario.