I’m a foreigner investing in U.S. stocks. Three years ago, I asked my dad if he could give me $50,000 as an early inheritance to help with my wedding and a house purchase. After some thought, he agreed but had conditions. Instead of giving me the whole amount at once, he decided to send it in installments of $5,000 a month over 10 months, splitting each into $2,500 on the 1st and 15th.
At the time, I wanted to put it all into EV stocks like Lucid, Tesla, and Rivian because I had some success with Lucid before. This was back in late 2021 when the market was at its peak. My dad’s cautious approach annoyed me, but I had no choice. Then 2022 hit, and the market dropped due to various factors like the Ukraine war. I ended up dollar-cost averaging (DCA) into big tech stocks like Nvidia, Apple, Microsoft, and Amazon.
Fast forward two years, those investments grew to $150,000, with Nvidia alone giving a 700% return. On the other hand, the EV stocks I bought earlier with my own money tanked, leaving me with a $20,000 loss. If I’d gone all-in on EVs, I’d still be in a big hole.
I feel lucky more than skilled. This taught me the value of DCA and diversification. Thanks to my dad’s wisdom, I avoided a huge mistake. Just wanted to share this story!
@Weston
I actually love bad years for tech stocks. It’s usually macro fears or rate hikes, not the companies themselves. I bought heavy in 2022, and it paid off. Another crash would be a dream for me.
Paris said:
“I decided to inherit some money from my father.”
Man, poor people hate hearing stuff like this.
Yeah, the way OP worded that made it sound like he was owed the money. His dad just gave him $50K, no strings attached, but he acts like it was part of some grand plan.
Delaney said: @Bailey
I’ve seen this with some families. The parents act like it’s an early inheritance to justify giving their kids large amounts of money.