New investor - should I sell former employer’s stock (ESPP + RSUs) and move it into an S&P 500 index fund?

New investor - should I sell former employer’s stock (ESPP + RSUs) and move it into an S&P 500 index fund? Hi everyone, I’m relatively new to investing and could use some advice on what to do with company stock from a former employer that I currently hold in an E\*TRADE account. My total account value is around $59,000, roughly split as follows: * 40% Employee Stock Purchase Plan (ESPP) * 60% Restricted Stock (RSUs) Since these are all shares of my former employer, I’m wondering whether it makes sense to sell some or all of the stock and reinvest the proceeds into an S&P 500 index fund, rather than continuing to hold such a large position in one company. A few questions I’m hoping to get some perspective on: * **Pros & Cons:** What are the pros and cons of selling the employer stock and investing in an S&P 500 index fund instead? * **Timing:** Should I make this move all at once, wait, or phase it out slowly? * **Allocation:** If I do sell, should I liquidate the entire balance (100%), or is it better to hold onto a small percentage? Is there a rule of thumb for how much of my net worth should be in a single stock? * **Tax Considerations:** Are there any tax considerations I should be aware of, particularly because some of the shares came through an ESPP and others are RSUs? * Is there anything else I should be considering before making a decision? Some extra context that might matter: * I don't currently need this money for anything specific, it'd just go toward long-term retirement/investing goals * I haven't looked closely at tax implications of selling yet (short-term vs long-term gains) I've read through several similar posts here but everyone's situation seems a little different, so I wanted to lay mine out specifically. Would appreciate any advice, things I should be thinking about, or mistakes people commonly make in this situation. Thanks in advance!