I'm a recent graduate with a full time job and my parents are pretty well off financially. But its nothing ridiculous. They have been supportive of me financially as well growing up and I've had a bank account with a small allowance that I never really indulged with because it was my understanding it was theirs not mine.
Well they told me I could do whatever with the money now that I have a job and I'm debating putting close to 60% in the S&P 500, dollar cost averaged over the next 12-18 months. My own job doesn't pay a lot, but I figured that this would be the head start I need, which would be about $70,000 combining my own money with theirs considering I already don't touch it. I read the intelligent investor and I think it's a good idea. I know because I'm young I should be riskier but I know barely anyone beats the S&P 500 over a long period of time. It would only leave about a 6 month emergency fund left in savings.
Any thoughts? I'm 23.