Ask Terry Questions Asking if I should sell all shares of stock

Asking if I should sell all shares of stock

By Terry Savage on August 11, 2019 | Investments

I have stayed in the stock market to long…I am 84 years old and I am with schwab
I hav j p Morgan chase stock…also walgreens, wal mart, Pfizer and Baxter. I use dividends for monthly expenses. What should I do. Thank you so much

Terry Says

So much depends on what percent of your assets are in the stock market — and your future plans. Do you expect to spend all of this money in your lifetime?  If so then sell at least half now. It is NOT too late. But if you are planning for your children to inherit this stock, there are some tax considerations.   Selling stock held for a long time would create capital gains taxes. Added to other income it could impact your Medicare premiums. If you die owning stocks with gains, your heirs will pay no taxes.

I need to know more to answer your question so I will send you a personal email.

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