Should I sell my stocks?
I'm 59 and have every penny I own in stocks $45k. They are in aggressive stocks that keep going up
a lot each day so it's so hard to sell but it is scary having all your eggs in one basket. Any opinions?
- SteveLv 62 months agoFavorite Answer
It is human nature to always want more money. However, in the case of stocks, sometimes its best to sell and take your profits. Thats your decision. Listing some stocks that you own would help us make a clearer guess. Things have been going very well in the stock market lately and often when a stock has climbed mightily, there is a pull back. Will that continue or will there be a correction? Thats your call. The good news about stocks is that if its worth owning, it will likely always do well even if there is a slight fall. Look at the fundamentals of the stock. Is it expected to gain in profit or lose profit? That alone can be a good decider. Whatever you choose, good luck to you.
- wernerslaveLv 52 months ago
If your invested in China, or a cooperation held by China, sell it all. Invest in things that help people like waste management, forestry products, clean water, infrastructure, and coffin makers.
- 2 months ago
Sell Stock When the Price Rises Dramatically. It's to your greatest advantage to sell the stock. A modest stock can turn into a costly stock exceptionally quick for a large group of reasons, including hypothesis by others. Take your benefits and proceed onward. Far and away superior, if that stock drops fundamentally, consider getting it once more.
- garryLv 62 months ago
why ask us , your stocks so you decide , your smart enough to have stocks but dumb enough to get on the net ... no brains troll .
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- Christin KLv 72 months ago
Selling your stocks will diminish your risk. There is always risk in having all your assets in the stock market. Selling at your age will allow you to put that money into a non-taxable IRA, or other retirement fund. You can't count on those stocks continuing to rise; inevitably they will either stop rising or fall. Selling while the price is good makes some sense.
On the other hand, selling will trigger capital gains taxes. Your age is also an advantage here too--you can exclude some or all of the taxable profit if your income threshold is low enough--at this time it must be under $80K.
Yes, I would sell. Put your money where it can actually help you upon retirement.
- kswck2Lv 72 months ago
Well, 45k won't let you retire in your own lifetime. Just put some stop orders on those stocks and relook at them when/if they sell.
- AnonymousLv 72 months ago
It depends on if you can afford to wait out any short term stock losses. Normally people nearing retirement age would be advised to hold most of their money in fixed income investments to minimize the volatility in their portfolio. Another option would be to hold high quality dividend stocks for the dividend income if you don't have any plans to sell in the short term.
- Coffee DrinkerLv 72 months ago
You're 59 years old and have $45k to your name? LOL
- garbo7441Lv 72 months ago
As one investor 'guru' once said, referring to investors... "Bulls make money, Bears make money, and Pigs get slaughtered." I can attest to that philosophy from first hand experience. Years ago, I had a $28K investment in the stock of two companies. The stocks were both going up dramatically, eventually driving the value of the two stocks in excess of $45K. This all happened in one year. I thought the gravy train would not end. It did. I still have the stocks, but the value has decreased to $11K. Thankfully, this is not a serious problem for me in the big picture. Others might not be so fortunate.
Your age indicates that you should manage your risk from a more conservative perspective. I would suggest you diversify your portfolio to prevent a catastrophic event that could seriously impact your retirement.
- JJLv 72 months ago
A compromise is to sell a portion and keep some. But then what are you going to do with the money? It won't earn anything sitting in a bank, Also you might be tempted to spend it.
- Anonymous2 months ago
I would. Biden is about to crash the economy