Sold some stock
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Sold some stock
| Wed, 01-16-2013 - 6:50pm |
Dh and I discussed it, and we have a cash flow problem, so rather than using the cc to bridge the gap, we sold some stock and will invest the same amount again when we get our tax refund. Will take the pressure off for a couple of months...
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When times are good we need to save, when there is a rain cloud pouring on us, we need to use that umbrella. I hope that you will save a portion of the proceeds to cover any tax consequences any profit on the stock would generate in terms of capitol gains (under $250k gross income, rate is still 15% for long term gains, or stock held over one year.)
Generally stocks have had a good run the past 4 years, so taking some profit can actually be a good move! Better than selling low and buying high as most people do.
Yep, I thought about the tax consequences, but it isn't going to be much. In late 2008, I opened a Sharebuilder account and picked some random stocks. I invested $2500. Today, it is worth almost double, but I only sold off 11 shares for a total of $1068, $400 of which is profit. It's all good, was more of a sentimental thing I was holding on to. The thing that makes this a big deal is that my husband and I actually sat down and talked about it. (Ususally, I handle the finances, which does get a little old after awhile.) The hardest part was figuring out which stock to sell. We have already decided we will put $800 back when we get our tax refund because we like the security of having something set aside..
Good for you! And I understand that the big accomplishment here is being on the same page as your spouse.
I know this must have been a tough decision but I'm glad you are happy with it and have plan in place. Its nice to have "go to" money.This will reduce your stress.