Not bad.
Four possible suggestions, ranked worst to best:
- You should diversify more...everything you aspire to hold is either stocks, or crypto. You're missing Gold/silver, cash-producing businesses, and royalty-producing IP for some examples.
- Or.....diversify less. Learn one thing, master it well. Then go all in on it. I know Tech. I knew when to go long Tesla, and when to go short Tesla. Also, when to buy back my short. Don't start off with balls of steel moves though. Learn one space - and know it better than the professional analysts. Maybe get a job as a professional analyst for 2-5 years, to really learn the ropes. Investing is a long term sport, so what is 2-5 years to really know your market?
- Hire a financial analyst who has put in that 2-5 years, or preferably 10-20 years. They're expensive; and worth every penny. Mine was on CNBC (or an equivalent) for a long time and now advises people privately.
- Take your anti-diversity strategy, and start a business in your chosen niche. Understand what needs are not being met, then start a business meeting those needs. I am considering starting a business in blockchain. Haven't yet decided how lazy I want to be for the next 1-2 years. But I know the problems it has, and how to solve at least some of them.
But, just looking at what you have, here is what I see:
- you should factor in any home equity in your % allocations. If you have 20k of appreciation in houses, and $180k in markets assets, then your home equity is 10% of your portfolio.
- you're all crypto and stocks. The two move in highly correlated fashion. I'd be careful here, because during a real bear market you are going to feel real pain.
- If you MUST do stocks, consider index funds.
- I personally don't like stablecoins. The APY is below the rate of inflation, and you have to pay taxes when you cash out. You're losing two ways. Stablecoins are good only as a bridge between cryptocurrencies. I always sell from one crypto to USDC, before buying another. Except on the Ethereum mainnet. Because swapping crypto tokens is an accounting nightmare. This is just my opinion, and not financial advice.
- I haven't heard of all of your names. Palantir is in big trouble now. you have a lot of yield (dividends, stablecoins) for someone just starting out. Your non-yields are very speculative. If your research is solid and your psychology can handle wild swings, and I mean wild, then great.
Again, NFA.
