Trust fund kid just asking for advice
Hello Reddit,
I’m in my early 20s and I’m seeking out some general financial advice and opinions on what should be done.
I have a trust which currently holds 377k at a 1.8% interest rate.
I also have stocks that add up to around 40k.
In total I have around 417k in assets. No debt or anything, I already used 100k to graduate early and move states a couple years back.
Generally speaking I always grew up knowing that money necessarily wasn’t a “issue” for my family, but it’s only as of late that it’s dawning on me the amount I have and how easily it can go. I’m currently a new grad nurse (unemployed) and want to go to medical school in the future, however apart of me is almost afraid?
I know the amount I have gives me a head start in life especially at my age, but Im terrified of using it incorrectly and wasting it.
My question is for those more experienced what would you do with the 377k? I know the interest in it sucks and I only just found out how bad it is, but at the same time I don’t know anything about moving or managing it into stocks or portfolios.
Any advice would help!