$50k in shares. Inheritance. Little experience. What to do?

chantelcornelius

Hi,

I'm 20 years old and have inherited a $50K value in shares from my Grandpa.

I have no experience with the share market other than the names of the share companies, the values and dividend payments.

I'm a student studying Public Relations and Marketing which I have a real passion for. I have a sister who has an equal amount in shares who is a very talented Fashion Designer.

I would like some advice on what I could do with the money and also, what my sister could do. Or, whether it would be smart to work together towards something?

Sorry if it's frustrating to see someone with so little experience posting on here.

Thanks,

Chantel

withabix

$ or £?

What country are you in?

atush

As a student, do you earn/pay tax? Is this your only money, or do you have an emergency cash float? What is your student loan rate? Are the shares all in the same company or different companies?

Some options would be to save the dividends into an emergency cash pot, or if you have one of those, reinvest the dividends? Another would be to bed and ISA the shares (to keep them out of the taxmans hands should you decide to hold them a long time) or sell some to reinvest in other shares/funds to spread your risk. Sell them to pay off loans etc.

There are a million things you could do, but until we know more about you and your situation we can't say what might suit you best.

IronWolf

Was your grandpa a savvy investor or dont you know?

If you arent comfortable holding them then you can sell the shares and put the money into something else like a house or funds.