No. of Recommendations: 1
...I still have no clue about which stocks to buy.....

The chances of you being able to be one of the few people who are able to pick stocks that will beat a comparable index fund over the long term are very slim. Very few of the mutual fund managers who have advanced degrees from the top universities, great research staffs, 40(or more) hours per week to focus on stocks, computer tools you can only dream of, and lower trading costs can beat the index funds over the long term. The individual investor has a few advantages because they don’t have to follow al the rules but beating a similar index is extremely difficult.

Don’t be fooled by anyone that claims to be able to pick stocks that will beat the comparable indexes. If they could really do that they sure as heck wouldn’t sell it to you for a few dollars per year!

In addition to the difficulty in being able to successfully trade stocks, you have an additional concern because of you health situation, that is that I would assume that you might periodically have problems flare up that that would prevent you from trading stocks for a week or two which could prevent you from trading risky positions while you are incapacitated.

You should really stick with index funds; there are dozens of them other then the S&P 500 index fund. Many of them would be considered more aggressive then the S&P 500 index funds if that is really appropriate for you.

Even with a poor prognosis the chances of living to retirement it could really be more of a percentage chance instead of an absolute deadline. Even it is only a 1% chance then don’t be too quick to gamble away your funds by investing too aggressively.

If your beneficiary is a charity then there is a thing called a “Charitable Remainder Trust” that would allow you to still have the use of the money and some tax advantages that you should look into.

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