I posted yesterday and got a lot of good feedback, this was the post:
I am 35, my dad and uncle started a MF for me as a baby. It has grown significantly, it lost a lot during Covid, but in just a year has made over 100k. The highest it was in December at 415k. Because of all this market panic and tariffs it’s lost like 68k since then. My uncle told me I should withdraw 1/3 to 1/2. I know I’ll have to pay the taxes which suck, and my daughter and I will most definitely lose our insurance because it will be counted as income. was looking to buy a house possibly soon but now am unsure. Should I withdraw a large chunk and try to diversify? Unfortunately not very educated in this stuff… or should I try to ride it out? I should also point out I do withdraw monthly from the account the bare minimum of what I need to supplement my income. Max 15k a year. I only work 3 days a week as I’m a single mom and childcare is a nightmare.
Anyways. The mutual fund is TWCGX, it’s made up of a lot of tech that’s tanking. I have only this money as of now, and what I make waitressing 3 days a week. Yes it was up to $415,000 in December. I should have planned better. It lost 20k yesterday. It’s now down to 330k? I’m not one to go with panic selling but I’m really considering cutting my losses and getting educated and investing in something less volatile and not in this market. I don’t really have time to play the guessing games of the next four years as I WILL need to draw on this money to supplement my income, and watching it completely disappear while needing to take out a couple thousand every few months does not seem wise. This was NOT any money that I even invested in. So it’s still a massive gain. I’d probably have 1/4 million after taxes, and whatever I owe American Century. I don’t have a 401k that’s active right now, or a Roth IRA I’m contributing too (I do think I have one) people keep telling me to ride it through but I’m not sure now. Can I please get some more advice? I feel like by next week it’s going to lose half its value